{
"documentInfo": {
"documentType": "https://xbrl.org/2021/xbrl-json",
"features": {
"xbrl:canonicalValues": true
},
"namespaces": {
"DEL": "http://delonghigroup.com/2024-12-31",
"ifrs-full": "https://xbrl.ifrs.org/taxonomy/2022-03-24/ifrs-full",
"iso4217": "http://www.xbrl.org/2003/iso4217",
"scheme": "http://standards.iso.org/iso/17442",
"xbrl": "https://xbrl.org/2021",
"xbrli": "http://www.xbrl.org/2003/instance"
},
"taxonomy": [
"http://delonghigroup.com/2024-12-31/8156000E09A52C4F8A38-2024-12-31.xsd"
]
},
"facts": {
"f1__s1__3__5": {
"value": "3445635000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RevenueFromContractsWithCustomers",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s1__5__5": {
"value": "3043086000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RevenueFromContractsWithCustomers",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s1__3__6": {
"value": "51920000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s1__5__6": {
"value": "32818000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s1__3__7": {
"value": "3497555000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RevenueAndOperatingIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s1__5__7": {
"value": "3075904000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RevenueAndOperatingIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s1__3__8": {
"value": "1515164000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RawMaterialsAndConsumablesUsed",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s1__5__8": {
"value": "1301454000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RawMaterialsAndConsumablesUsed",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s1__3__9": {
"value": "-83484000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ChangesInInventoriesOfFinishedGoodsAndWorkInProgress",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s1__5__9": {
"value": "23588000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ChangesInInventoriesOfFinishedGoodsAndWorkInProgress",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s1__6__9": {
"value": "-753000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ChangesInInventoriesOfFinishedGoodsAndWorkInProgress",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"DEL:RecurringAndNonRecurringOperationsAxis": "DEL:NonRecurringOperationsMember",
"unit": "iso4217:EUR"
}
},
"f1__s1__3__10": {
"value": "11342000.0",
"decimals": -3,
"dimensions": {
"concept": "DEL:ChangesInInventoriesOfRawMaterialsConsumablesAndGoods",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s1__5__10": {
"value": "10800000.0",
"decimals": -3,
"dimensions": {
"concept": "DEL:ChangesInInventoriesOfRawMaterialsConsumablesAndGoods",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s1__3__11": {
"value": "1443022000.0",
"decimals": -3,
"dimensions": {
"concept": "DEL:MaterialsConsumed",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s1__5__11": {
"value": "1335842000.0",
"decimals": -3,
"dimensions": {
"concept": "DEL:MaterialsConsumed",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s1__6__11": {
"value": "-753000.0",
"decimals": -3,
"dimensions": {
"concept": "DEL:MaterialsConsumed",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"DEL:RecurringAndNonRecurringOperationsAxis": "DEL:NonRecurringOperationsMember",
"unit": "iso4217:EUR"
}
},
"f1__s1__3__12": {
"value": "484707000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:EmployeeBenefitsExpense",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s1__4__12": {
"value": "1630000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:EmployeeBenefitsExpense",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"DEL:RecurringAndNonRecurringOperationsAxis": "DEL:NonRecurringOperationsMember",
"unit": "iso4217:EUR"
}
},
"f1__s1__5__12": {
"value": "393246000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:EmployeeBenefitsExpense",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s1__6__12": {
"value": "1036000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:EmployeeBenefitsExpense",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"DEL:RecurringAndNonRecurringOperationsAxis": "DEL:NonRecurringOperationsMember",
"unit": "iso4217:EUR"
}
},
"f1__s1__3__13": {
"value": "996252000.0",
"decimals": -3,
"dimensions": {
"concept": "DEL:ServicesExpenseAndMiscellaneousOtherOperatingExpense",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s1__4__13": {
"value": "1721000.0",
"decimals": -3,
"dimensions": {
"concept": "DEL:ServicesExpenseAndMiscellaneousOtherOperatingExpense",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"DEL:RecurringAndNonRecurringOperationsAxis": "DEL:NonRecurringOperationsMember",
"unit": "iso4217:EUR"
}
},
"f1__s1__5__13": {
"value": "885207000.0",
"decimals": -3,
"dimensions": {
"concept": "DEL:ServicesExpenseAndMiscellaneousOtherOperatingExpense",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s1__6__13": {
"value": "4727000.0",
"decimals": -3,
"dimensions": {
"concept": "DEL:ServicesExpenseAndMiscellaneousOtherOperatingExpense",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"DEL:RecurringAndNonRecurringOperationsAxis": "DEL:NonRecurringOperationsMember",
"unit": "iso4217:EUR"
}
},
"f1__s1__3__14": {
"value": "25151000.0",
"decimals": -3,
"dimensions": {
"concept": "DEL:ProvisionExpense",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s1__4__14": {
"value": "-2961000.0",
"decimals": -3,
"dimensions": {
"concept": "DEL:ProvisionExpense",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"DEL:RecurringAndNonRecurringOperationsAxis": "DEL:NonRecurringOperationsMember",
"unit": "iso4217:EUR"
}
},
"f1__s1__5__14": {
"value": "23790000.0",
"decimals": -3,
"dimensions": {
"concept": "DEL:ProvisionExpense",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s1__6__14": {
"value": "492000.0",
"decimals": -3,
"dimensions": {
"concept": "DEL:ProvisionExpense",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"DEL:RecurringAndNonRecurringOperationsAxis": "DEL:NonRecurringOperationsMember",
"unit": "iso4217:EUR"
}
},
"f1__s1__3__15": {
"value": "117622000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DepreciationAndAmortisationExpense",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s1__5__15": {
"value": "108191000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DepreciationAndAmortisationExpense",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s1__3__16": {
"value": "430801000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossFromOperatingActivities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s1__4__16": {
"value": "-390000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossFromOperatingActivities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"DEL:RecurringAndNonRecurringOperationsAxis": "DEL:NonRecurringOperationsMember",
"unit": "iso4217:EUR"
}
},
"f1__s1__5__16": {
"value": "329628000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossFromOperatingActivities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s1__6__16": {
"value": "-5502000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossFromOperatingActivities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"DEL:RecurringAndNonRecurringOperationsAxis": "DEL:NonRecurringOperationsMember",
"unit": "iso4217:EUR"
}
},
"f1__s1__3__17": {
"value": "-1427000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:FinanceIncomeCost",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s1__5__17": {
"value": "-2330000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:FinanceIncomeCost",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s1__3__18": {
"value": "429374000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossBeforeTax",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s1__5__18": {
"value": "327298000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossBeforeTax",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s1__3__19": {
"value": "104424000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncomeTaxExpenseContinuingOperations",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s1__5__19": {
"value": "76886000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncomeTaxExpenseContinuingOperations",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s1__3__20": {
"value": "324950000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s1__5__20": {
"value": "250412000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s1__3__21": {
"value": "14213000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossAttributableToNoncontrollingInterests",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s1__5__21": {
"value": "35000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossAttributableToNoncontrollingInterests",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s1__3__22": {
"value": "310737000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossAttributableToOwnersOfParent",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s1__5__22": {
"value": "250377000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLossAttributableToOwnersOfParent",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s1__3__23": {
"value": "2.06",
"decimals": 2,
"dimensions": {
"concept": "ifrs-full:BasicEarningsLossPerShare",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR/xbrli:shares"
}
},
"f1__s1__5__23": {
"value": "1.67",
"decimals": 2,
"dimensions": {
"concept": "ifrs-full:BasicEarningsLossPerShare",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR/xbrli:shares"
}
},
"f1__s1__3__24": {
"value": "2.05",
"decimals": 2,
"dimensions": {
"concept": "ifrs-full:DilutedEarningsLossPerShare",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR/xbrli:shares"
}
},
"f1__s1__5__24": {
"value": "1.65",
"decimals": 2,
"dimensions": {
"concept": "ifrs-full:DilutedEarningsLossPerShare",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR/xbrli:shares"
}
},
"f1__s2__3__5": {
"value": "324950000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s2__4__5": {
"value": "250412000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s2__3__6": {
"value": "5408000.0",
"decimals": -3,
"dimensions": {
"concept": "DEL:OtherComprehensiveIncomeBeforeTaxCashFlowHedgesAndOtherComprehensiveIncomeBeforeTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s2__4__6": {
"value": "-614000.0",
"decimals": -3,
"dimensions": {
"concept": "DEL:OtherComprehensiveIncomeBeforeTaxCashFlowHedgesAndOtherComprehensiveIncomeBeforeTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s2__3__7": {
"value": "1018000.0",
"decimals": -3,
"dimensions": {
"concept": "DEL:IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncomeAndIncomeTaxRelatingToFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s2__4__7": {
"value": "-376000.0",
"decimals": -3,
"dimensions": {
"concept": "DEL:IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncomeAndIncomeTaxRelatingToFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s2__3__8": {
"value": "59006000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s2__4__8": {
"value": "-33384000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s2__3__9": {
"value": "63396000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s2__4__9": {
"value": "-33622000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s2__3__10": {
"value": "-661000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s2__4__10": {
"value": "-3801000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s2__3__11": {
"value": "-33000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s2__4__11": {
"value": "-830000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s2__3__12": {
"value": "-628000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s2__4__12": {
"value": "-2971000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s2__3__13": {
"value": "62768000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s2__4__13": {
"value": "-36593000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s2__3__14": {
"value": "387718000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s2__4__14": {
"value": "213819000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s2__3__15": {
"value": "371148000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s2__4__15": {
"value": "213755000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s2__3__16": {
"value": "16570000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s2__4__16": {
"value": "64000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__5": {
"value": "1323326000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IntangibleAssetsAndGoodwill",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__5": {
"value": "878330000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IntangibleAssetsAndGoodwill",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__6": {
"value": "694208000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Goodwill",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__6": {
"value": "371686000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Goodwill",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__7": {
"value": "629118000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IntangibleAssetsOtherThanGoodwill",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__7": {
"value": "506644000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IntangibleAssetsOtherThanGoodwill",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__8": {
"value": "560606000.0",
"decimals": -3,
"dimensions": {
"concept": "DEL:PropertyPlantAndEquipmentIncludingRightOfUseAssets",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__8": {
"value": "477981000.0",
"decimals": -3,
"dimensions": {
"concept": "DEL:PropertyPlantAndEquipmentIncludingRightOfUseAssets",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__9": {
"value": "300339000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PropertyPlantAndEquipment",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__9": {
"value": "226757000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PropertyPlantAndEquipment",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__10": {
"value": "152312000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherPropertyPlantAndEquipment",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__10": {
"value": "154799000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherPropertyPlantAndEquipment",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__11": {
"value": "107955000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RightofuseAssets",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__11": {
"value": "96425000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RightofuseAssets",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__12": {
"value": "142198000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentFinancialAssets",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__12": {
"value": "131725000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentFinancialAssets",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__13": {
"value": "5223000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:InvestmentAccountedForUsingEquityMethod",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__13": {
"value": "4294000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:InvestmentAccountedForUsingEquityMethod",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__14": {
"value": "5721000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentReceivables",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__14": {
"value": "5400000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentReceivables",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__15": {
"value": "131254000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherNoncurrentFinancialAssets",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__15": {
"value": "122031000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherNoncurrentFinancialAssets",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__16": {
"value": "74177000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DeferredTaxAssets",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__16": {
"value": "60413000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DeferredTaxAssets",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__17": {
"value": "2100307000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentAssets",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__17": {
"value": "1548449000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentAssets",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__20": {
"value": "621850000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Inventories",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__20": {
"value": "504678000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Inventories",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__21": {
"value": "336145000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentTradeReceivables",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__21": {
"value": "272692000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentTradeReceivables",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__22": {
"value": "11341000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentTaxAssetsCurrent",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__22": {
"value": "20244000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentTaxAssetsCurrent",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__23": {
"value": "52659000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherCurrentReceivables",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__23": {
"value": "43695000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherCurrentReceivables",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__24": {
"value": "194113000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentFinancialAssets",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__24": {
"value": "172472000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentFinancialAssets",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__25": {
"value": "1019711000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__25": {
"value": "1250198000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__26": {
"value": "2235819000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentAssets",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__26": {
"value": "2263979000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentAssets",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__30": {
"value": "4336126000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Assets",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__30": {
"value": "3812428000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Assets",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__33": {
"value": "2076741000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:EquityAttributableToOwnersOfParent",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__33": {
"value": "1811139000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:EquityAttributableToOwnersOfParent",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__34": {
"value": "226820000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IssuedCapital",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__34": {
"value": "226590000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IssuedCapital",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__35": {
"value": "1539184000.0",
"decimals": -3,
"dimensions": {
"concept": "DEL:OtherReservesAndRetainedEarningsExcludingProfitLossForReportingPeriod",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__35": {
"value": "1334172000.0",
"decimals": -3,
"dimensions": {
"concept": "DEL:OtherReservesAndRetainedEarningsExcludingProfitLossForReportingPeriod",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__36": {
"value": "310737000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RetainedEarningsProfitLossForReportingPeriod",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__36": {
"value": "250377000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RetainedEarningsProfitLossForReportingPeriod",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__37": {
"value": "187652000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncontrollingInterests",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__37": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:NoncontrollingInterests",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__38": {
"value": "2264393000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__38": {
"value": "1811139000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__41": {
"value": "505771000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentFinancialLiabilities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__41": {
"value": "593079000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentFinancialLiabilities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__42": {
"value": "227988000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:LongtermBorrowings",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__42": {
"value": "300844000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:LongtermBorrowings",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__43": {
"value": "193581000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherNoncurrentFinancialLiabilities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__43": {
"value": "214617000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherNoncurrentFinancialLiabilities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__44": {
"value": "84202000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentLeaseLiabilities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__44": {
"value": "77618000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentLeaseLiabilities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__45": {
"value": "112758000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DeferredTaxLiabilities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__45": {
"value": "72164000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DeferredTaxLiabilities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__46": {
"value": "138196000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentProvisions",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__46": {
"value": "122918000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentProvisions",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__47": {
"value": "63197000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentProvisionsForEmployeeBenefits",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__47": {
"value": "51041000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentProvisionsForEmployeeBenefits",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__48": {
"value": "74999000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherLongtermProvisions",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__48": {
"value": "71877000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherLongtermProvisions",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__49": {
"value": "756725000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentLiabilities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__49": {
"value": "788161000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:NoncurrentLiabilities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__52": {
"value": "873139000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__52": {
"value": "716238000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__53": {
"value": "196072000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentFinancialLiabilities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__53": {
"value": "289022000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentFinancialLiabilities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__54": {
"value": "94246000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__54": {
"value": "196005000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__55": {
"value": "75617000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherCurrentFinancialLiabilities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__55": {
"value": "72012000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherCurrentFinancialLiabilities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__56": {
"value": "26209000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentLeaseLiabilities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__56": {
"value": "21005000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentLeaseLiabilities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__57": {
"value": "75821000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentTaxLiabilitiesCurrent",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__57": {
"value": "70571000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentTaxLiabilitiesCurrent",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__58": {
"value": "169976000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherCurrentPayables",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__58": {
"value": "137297000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherCurrentPayables",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__59": {
"value": "1315008000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentLiabilities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__59": {
"value": "1213128000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CurrentLiabilities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__3__62": {
"value": "4336126000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:EquityAndLiabilities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s3__4__62": {
"value": "3812428000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:EquityAndLiabilities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__3__5": {
"value": "324950000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__4__5": {
"value": "250412000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__3__6": {
"value": "104424000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForIncomeTaxExpense",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__4__6": {
"value": "76886000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForIncomeTaxExpense",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__3__7": {
"value": "117622000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForDepreciationAndAmortisationExpense",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__4__7": {
"value": "108191000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForDepreciationAndAmortisationExpense",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__3__8": {
"value": "-4389000.0",
"decimals": -3,
"dimensions": {
"concept": "DEL:AdjustmentsForProvisionsAndOtherAdjustmentsForNonCashItems",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__4__8": {
"value": "10851000.0",
"decimals": -3,
"dimensions": {
"concept": "DEL:AdjustmentsForProvisionsAndOtherAdjustmentsForNonCashItems",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__3__9": {
"value": "542607000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__4__9": {
"value": "446340000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__3__10": {
"value": "-39908000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInTradeAccountReceivable",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__4__10": {
"value": "2369000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInTradeAccountReceivable",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__3__11": {
"value": "-59442000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInInventories",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__4__11": {
"value": "34553000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInInventories",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__3__12": {
"value": "115363000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInTradeAccountPayable",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__4__12": {
"value": "186920000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInTradeAccountPayable",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__3__13": {
"value": "-26965000.0",
"decimals": -3,
"dimensions": {
"concept": "DEL:IncreaseDecreaseInOtherWorkingCapital",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__4__13": {
"value": "-11740000.0",
"decimals": -3,
"dimensions": {
"concept": "DEL:IncreaseDecreaseInOtherWorkingCapital",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__3__14": {
"value": "99203000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__4__14": {
"value": "97555000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__3__15": {
"value": "56225000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInWorkingCapital",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__4__15": {
"value": "-138027000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInWorkingCapital",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__3__16": {
"value": "486382000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__4__16": {
"value": "584367000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__3__19": {
"value": "17841000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__4__19": {
"value": "18670000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__3__20": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:ProceedsFromSalesOfIntangibleAssetsClassifiedAsInvestingActivities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__4__20": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:ProceedsFromSalesOfIntangibleAssetsClassifiedAsInvestingActivities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__3__21": {
"value": "85637000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__4__21": {
"value": "76632000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__3__22": {
"value": "1570000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__4__22": {
"value": "1933000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__3__23": {
"value": "19125000.0",
"decimals": -3,
"dimensions": {
"concept": "DEL:PurchaseOfFinancialAssetsClassifiedAsInvestingActivities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__4__23": {
"value": "218570000.0",
"decimals": -3,
"dimensions": {
"concept": "DEL:PurchaseOfFinancialAssetsClassifiedAsInvestingActivities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__3__24": {
"value": "-121033000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__4__24": {
"value": "-311939000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__3__27": {
"value": "365349000.0",
"decimals": -3,
"dimensions": {
"concept": "DEL:CashFlowsFromUsedInOperatingAndInvestingActivities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__4__27": {
"value": "272428000.0",
"decimals": -3,
"dimensions": {
"concept": "DEL:CashFlowsFromUsedInOperatingAndInvestingActivities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__3__28": {
"value": "302250000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__3__31": {
"value": "12712000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProceedsFromExerciseOfOptions",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__4__31": {
"value": "5101000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProceedsFromExerciseOfOptions",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__3__32": {
"value": "101017000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__4__32": {
"value": "72429000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__3__33": {
"value": "5774000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__4__33": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:DividendsPaidToNoncontrollingInterestsClassifiedAsFinancingActivities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__3__34": {
"value": "569000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__4__34": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__3__35": {
"value": "24519000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:InterestPaidClassifiedAsFinancingActivities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__4__35": {
"value": "22327000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:InterestPaidClassifiedAsFinancingActivities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__3__36": {
"value": "181210000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__4__36": {
"value": "-312651000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__3__37": {
"value": "-299239000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__4__37": {
"value": "222996000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__3__40": {
"value": "-236140000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__4__40": {
"value": "495424000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__3__41": {
"value": "1250198000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__4__41": {
"value": "770247000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__3__42": {
"value": "-236140000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__4__42": {
"value": "495424000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__3__43": {
"value": "5653000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__4__43": {
"value": "-15473000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__3__44": {
"value": "1019711000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s4__4__44": {
"value": "1250198000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s7__6__6": {
"value": "The flows relating to 2023 were revised, for the sake of providing a more accurate representation of investment activities.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfReclassificationsOrChangesInPresentationExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__5": {
"value": "The flows relating to 2023 were revised, for the sake of providing a more accurate representation of investment activities.Group businessThis document represents the consolidated financial state-ments of the De\u2019 Longhi Group.The parent company De\u2019 Longhi S.p.A. is a jointstock compa-ny, incorporated in Italy, whose shares are listed on the Italian stock exchange (Euronext Milan) run by Borsa Italiana.The registered office is located in Treviso (Italy) in via Lodovico Seitz, 47.The Group operates in Europe, America, Asia Pacific and MEIA.The Group is active in the production and distribution of do-mestic and professional coffee machines, small appliances for food preparation and cooking, domestic cleaning and ironing, air conditioning and portable heaters.The companies included in the scope of consolidation are listed in Appendix 1 to the Explanatory notes.Accounting standardsThe De\u2019Longhi Group\u2019s consolidated financial statements at 31 December 2024 have been prepared on the basis of the interna-tional accounting and financial reporting standards issued by the International Accounting Standards Board (IASB), including the SIC and IFRIC interpretations, as endorsed by the European Commission (at the date of 31 December 2024), pursuant to EC Regulation 1606 of 19 July 2002.The following documents have been used for interpretation and application purposes even though not endorsed by the Eu-ropean Commission:\u2022 Framework for the Preparation and Presentation of Finan-cial Statements of the International Accounting Standards Board (issued by the IASB in 2001);\u2022 Implementation Guidance, Basis for Conclusions, IFRIC and other documents issued by the IASB or IFRIC to comple-ment the accounting standards;\u2022 Interpretations published by the Italian Accounting Board relating to how to apply IAS/IFRS in Italy.The accounting policies and measurement bases used for pre-paring the financial statements at 31 December 2024 are the same as those used for preparing the consolidated financial statements at 31 December 2023, except for certain new amendments and accounting standards described below, whose adoption did not have significant impacts on the pres-ent financial statement.The consolidated financial statements at 31 December 2024 comprise the income statement, the statement of comprehen-sive income, the statement of financial position, the statement of cash flows, the statement of changes in net equity and the explanatory notes.The statement of financial position has been prepared on a basis that distinguishes between current and non-current items. The income statement has been presented on the basis of the nature of expense, being a suitable structure for faithfully rep-resenting the Group\u2019s performance.The statement of cash flows has been prepared using the \u201cin-direct method\u201d allowed by IAS 7.The present financial statements and notes are presented in Euro, with all amounts rounded to thousands of Euro, unless otherwise indicated.The financial statements used for consolidation purposes are the separate ones for the year ended 31 December 2024 pre-pared by the Boards of Directors, or other Corporate bodies, of the individual companies, adjusted if necessary for the Group\u2019s accounting policies and measurement bases.The financial statements have been prepared on the historical cost basis, adjusted as required for the valuation of certain fi-nancial instruments.They have also been prepared on a going concern basis. De-spite the unpredictability of potential macroeconomic develop-ments and the inflationary tensions, the Group, in light of its fi-nancial strength and the actions taken to limit risks and its business model, believes that there are no elements which could compromise the business as a going concern as per paragraph 25 of IAS 1.The risks and uncertainties relating to the business are de-scribed in a specific section of the Report on operations. The methods used by the Group to manage financial risks are described in note 42. Risk management of the present Explan-atory notes.As part of a double materiality analysis, the Group identified the impact on climate change of the GHG emissions generat-ed by their direct and indirect activities as significant, as well as the related risks and financial opportunities, found as a result of a qualitative analysis. In a subsequent phase other analyses were then conducted in order to integrate the current qualitative approach with methods based on publicly available climatic scenarios. With reference to the climate change, the Group has assessed any potential impacts on reported values. For further information, refer to the Sustainability Report found in the Report on Operations found in this document. The present annual financial report have been issued in the ESEF format (European Single Electronic Format); it was ap-proved and authorized for publication by the Board of Directors on 14 March 2025.International accounting standards adopted by the Group for the first timeWith Regulation 2579/2023 of 20 November 2023 the Europe-an Commission introduced amendments toIFRS 16 - Leases which clarify how to account for sale and leaseback transactions.Regulation 2822/2023 of 19 December 2023 introduced amend-ments to IAS 1 - Presentation of financial statement which aim to improve disclosure when the right to defer settlement of a liability for at least twelve months is subject to a covenant.With Regulation 1317/2024 of 15 May 2024 the European Commission adopted a few amendments toIAS 7 and IFRS 7 that establish disclosure requirements for supplier finance arrangements.On 22 December 2022 \u201cCouncil Directive (EU) 2022/2523 on ensuring a global minimum level of taxation for multinational enterprise groups and large-scale domestic groups in the Union\u201d was published in the Gazzetta Ufficiale. The Directive was endorsed by member states by year-end 2023, as part of a coordinated effort, in accordance with the different domestic tax regimes.At the same time, the IASB launched a project to revise IAS 12 which resulted in the publication of an amendment, namely \u201cInternational Tax Reform - Pillar 2 Model Rules\u201d.The two documents are part of an ongoing debate about the reform of the international tax system undertaken by the Or-ganization for Economic Cooperation and Development (OECD). The reform calls for a solution based on the two pillars (the two-pillar solution). Pillar 1 focuses on a tax model which aims to reexamine the traditional concepts of \u201cresidence\u201d and \u201cjurisdiction\u201d. Pillar 2 aims to limit tax arbitrage in the alloca-tion of income by imposing a minimum tax rate of 15% % (Global anti-Base Erosion Rules, GloBE) on multinational companies.The law took effect as of the year beginning on 1 January 2024 and the Group, falling within the scope of Pillar Two applica-tion, assessed the impact of the new law while taking account of the amendments introducted in IAS 12 \u201cIncome Taxes\u201d.The assessment was based on the latest available financial in-formation used to prepare the Group\u2019s consolidated 2024 annual report and the tax regulations currently in effect in the different countries where the Group is present. As required by paragraph 4.A of IAS 12, in exception to the provisions of this standard, the Group did not recognize nor disclose information on deferred assets and liabilities relating to Pillar 2 income taxes.The application of the new international accounting standards did not have a significant impact on the Group\u2019s economic re-sults and/or financial position, with the exception of what is described in these Explanatory notes. International accounting standards and/or intepretations not yet applicable In August 2023 IASB published Amendments to IAS 21 - Lack of exchangeability, which have been adopted by the European Union with Regulation 2862/2024 of 12 September 2024, that contain guidance to specify when a currency is exchangeable and how to determine the exchange rate when it is not. These amendments will be effective for reporting periods beginning on or after 1 January 2025.In May 2024 IASB published Amendments to IFRS 9 and IFRS 7 - Amendments to the Classification and Measurement of Fi-nancial Instruments, effective for reporting periods beginning on or after 1 January 2026, subject to adoption by the Europe-an Union. The purpose of these amendments is to clarify the recognition/derecognition of financial assets and liabilities and provides specific guidelines for the settling of financial lia-bilities using an electronic payments system. Classification criteria for financial assets linked to ESG targets, non-recourse loans and related financial instruments were defined, as well. The mandatory disclosure requirements relating to invest-ments in equity instruments designated at fair value through other comprehensive income and for financial instruments with contingent features were also expanded.In April 2024 IASB published the new IFRS 18 - Presentation and Disclosure in Financial Statements, which defines the requirements for the presentation of the income statement, statement of financial position and the statement of changes in net equity, as well as the mandatory disclosures for the ex-planatory notes. The standard aims to improve the compara-bility of the income statement by requiring a more structured income statement through the use of categories and sub-to-tals, increasing the transparency of the performance indica-tors, define criteria for the aggregation/disaggregation of the information. After adoption by the European Union, the stand-ard will be effective for reporting periods beginning on or after 1 January 2027.The Group does not intend to opt for early application of the new standards, in the event it is allowed.Consolidation proceduresThe scope of consolidation includes the parent company, De\u2019 Longhi S.p.A., and its subsidiaries at 31 December 2024, meaning those companies in which the parent directly or indi-rectly owns the majority of share capital or shares with voting rights, or over which the parent has the power, including through contractual agreements, to govern their financial and operating policies.Subsidiaries companiesThese are companies over which the Group exercises control. Such control exists when the Group has the power, directly or indirectly, to govern the financial and operating policies of an enterprise so as to obtain benefits from its activities. The fi-nancial statements of subsidiaries are consolidated starting from the date that control is assumed with the line-by-line method.The portion of equity and results attributable to minority shareholders is shown separately in the consolidated state-ment of financial position and income statement respectively.The Group determines whether a transaction is a business combination by applying the definition which requires that the assets acquired and liabilities assumed constitute a business. A business is an integrated set of activities and assets that can provide a return to investors in the form of dividends, interests or other economic benefits. A business activity includes fac-tors and processes, which together contribute to the genera-tion of an output. In accordance with IFRS 3, business combi-nations are accounted for using the acquisition method.Under this method, the consideration transferred for the acqui-sition is measured at fair value except for the following items which are measured in accordance with the applicable stand-ard: i) deferred tax assets and liabilities, ii) assets and liabilities for employee benefits and iii) assets held for sale. In the case in which it is only possible to estimate provisionally the fair value of assets, liabilities and potential liabilities, the business combination is accounted for on the basis of provisional esti-mated values. Any subsequent corrections required following completion of the valuation process are accounted for within 12 months of the acquisition date.The fair value measurement includes any elements linked to the outcome of future events. In the event of business combi-nations achieved in stages, the value of the minority interest is redetermined based on the fair value of the assets acquired at the time of the transaction and any gains or losses are recog-nized in the profit (loss) for the year. The acquisition of further shares in subsidiaries and any sale of shares which do not lead to loss of control are accounted for as transactions between shareholders; as such, the ac-counting effects of such operations are reflected directly in the Group equity.Associated companiesThese are companies in which the Group has a significant in-fluence over their financial and operating policies and which are neither subsidiaries nor joint ventures. The consolidated fi-nancial statements show the Group\u2019s portion of results of the associated companies, accounted for using the equity method, starting from the date when the significant influence began. Joint venturesThese are companies over whose activities the Group has joint control, as established by contract. The consolidated financial statements include the Group\u2019s share of the results of joint ventures, reported using the equity method as per IAS 28 - In-vestment in associates and joint ventures amended.Transactions eliminated upon consolidationAll transactions and balances between Group companies and all unrealized gains and losses arising on intercompany trans-actions are eliminated on consolidation.Consolidation of foreign companiesAll the assets and liabilities of foreign companies that report in a currency other than the Euro and which fall within the scope of consolidation are translated into Euro using the exchange rate ruling at the end of the reporting period (current exchange rate method). Income and costs are translated using average rates for the reporting period. The exchange differences aris-ing from this method are booked directly to the \u201ccurrency translation reserve\u201d under consolidated net equity.Transactions in foreign currencyTransactions in foreign currency are recorded at the exchange rate in force on the transaction date. Monetary assets and lia-bilities in foreign currency are translated using the exchange rate ruling on the reporting date. Exchange differences arising on the extinguishment of monetary items or their translation at different rates to those used for their translation upon initial recognition or in previous financial statements are recorded in the income statement.Exchange differences arising on monetary items that are ef-fectively part of the Group\u2019s net investment in foreign opera-tions are classified in net equity until the investment\u2019s dispos-al, at which time such differences are recognized in the income statement as income or expenses.Translation of balances in foreign currenciesThe following exchange rates have been used:31.12.2024 31.12.2023 Variazione %Period-end Average Period-end Average Period-end Average exchange rate (*)exchange rate (*)exchange rate (*)exchange rate (*)exchange rate (*)exchange rate (*)US dollar USD 1.0389 1.0824 1.1050 1.0813 (5.98%) 0.10%British pound GBP 0.8292 0.8466 0.8691 0.8698 (4.59%) (2.66%)Hong Kong dollar HKD 8.0686 8.4454 8.6314 8.4650 (6.52%) (0.23%)Chinese renminbi (Yuan) CNY 7.5 833 7.7875 7.8509 7.6600 (3.41%) 1.66%Australian dollar AUD 1.6772 1.6397 1.6263 1.6288 3.13% 0.67%Canadian dollar CAD 1.4948 1.4821 1.4642 1.4595 2.09% 1.55%Japanese yen JPY 163.0600 163.8519 156.3300 151.9903 4.30% 7.80%Malaysian ringgit MYR 4.6454 4.9503 5.0775 4.9320 (8.51%) 0.37%New Zealand dollar NZD 1.8532 1.7880 1.7504 1.7622 5.87% 1.46%Polish zloty PLN 4.2750 4.3058 4.3395 4.5420 (1.49%) (5.20%)South African rand ZAR 19.6188 19.8297 20.3477 19.9551 (3.58%) (0.63%)Singapore dollar SGD 1.4164 1.4458 1.4591 1.4523 (2.93%) (0.45%)Russian rouble RUB 106.1028 100.2028 99.1919 92.2731 6.97% 8.59%Turkish lira TRY 36.7372 35.5734 32.6531 25.7597 12.51% 38.10%Czech koruna CZK 25.1850 25.1198 24.7240 24.0043 1.86% 4.65%Swiss franc CHF 0.9412 0.9526 0.9260 0.9718 1.64% (1.98%)Brazilian real BRL 6.4253 5.8283 5.3618 5.4010 19.83% 7.91%Ukrainian hryvnia UAH 43.6855 43.4901 41.9960 39.5400 4.02% 9.99%Romanian leu RON 4.9743 4.9746 4.9756 4.9467 (0.03%) 0.56%South Korean won KRW 1,532.1500 1,475.4000 1,433.6600 1,412.8800 6.87% 4.43%Chilean peso CLP 1,033.7600 1,020.6600 977.0700 908.2000 5.80% 12.38%Hungarian forint HUF 411.3500 395.3039 382.8000 381.8527 7.46% 3.52%Swedish krona SEK 11.4590 11.4325 11.0960 11.4788 3.27% (0.40%)Mexican peso MXN 21.5504 19.8314 18.7231 19.1830 15.10% 3.38%Tenge Kazakistan KZT 544.9800 507.9100 502.4800 493.5700 8.46% 2.91%(*) Source: Bank of Italy. Source for RUB period-end and average exchange rate of year 2024 and 2023: Central Bank of Russia.Main accounting policiesIntangible assetsGoodwillBusiness combinations, whereby control of a company/entity is acquired, are accounted for in accordance with the purchase method, meaning that the assets and liabilities acquired are ini-tially measured at their market value on the acquisition date.The difference between the cost of acquisition and the Group\u2019s share of net assets acquired is attributed to specific assets and liabilities to the extent of their acquisition date fair value; any remaining difference is allocated to goodwill, if positive, and to the income statement if negative. The cost of acquisi-tion is determined on the basis of the acquisition date fair value of the assets transferred, the liabilities assumed, the equity instruments issued and any other related amount.Goodwill is not amortized but tested for impairment once a year or more often if specific events or changed circumstanc-es indicate that its value may have been impaired. This proce-dure is in accordance with IAS 36 - Impairment of assets. After initial recognition, goodwill is carried at cost less any accumu-lated impairment losses.Research and development costsDevelopments costs for the production of new products or parts are recognized as assets only if the costs can be reliably determined, the Group has the intention and resources to com-plete them, the technical feasibility of completing them is such that they will be available for use, and the expected volumes and prices indicate that the costs incurred for development will generate future economic benefits.Capitalized development costs include only those expenses that can be directly attributed to the development process.Capitalized development costs are amortized on a systematic basis, starting from the commencement of production and lasting the length of the product or process\u2019s estimated life, generally ranging between three and five years. All other devel-opment costs are expensed to the income statement as incurred.Research costs are also expensed to the income statement as incurred.TrademarksThese are costs of long-term benefit incurred for the protec-tion and dissemination of the Group\u2019s trademarks. Such costs are recognized as an asset when, in accordance with IAS 38 - Intangible assets, it is probable that the future economic bene-fits attributable to the asset\u2019s use will flow to the Group and when its cost can be reliably measured.These assets are valued at purchase or production cost and amortized, if they have a finite life, on a straight-line basis over their estimated useful life, generally between 10 and 20 years.Trademarks with an indefinite useful life are not amortized but tested for impairment once a year or more often, any time there are signs that their value might be impaired.Other intangible assetsOther intangible assets purchased or internally generated are recognized as assets in accordance with IAS 38 - Intangible assets, when it is probable that the future economic benefits attributable to their use will flow to the Group and when the cost of the asset can be reliably measured.These assets are valued at purchase or production cost and amortized, if they have a finite life, on a straight-line basis over their estimated useful life, generally between 3 and 20 years.Property, plant and equipmentLand, property, plant and machineryBuildings, plant and equipment owned by the Group are re-corded at purchase or production cost and systematically de-preciated over their residual useful lives. The land pertaining to buildings is not depreciated. The cost of assets qualifying for capitalization also includes the borrowing costs directly attrib-utable to the acquisition, construction or production of the asset itself. Subsequent expenditure is capitalized only if it in-creases the future economic benefits flowing to the enterprise. Ordinary and/or routine maintenance and repair costs are di-rectly expensed to the income statement when incurred. Costs relating to the expansion, modernization or improvement of owned or leased assets are capitalized to the extent that they qualify for separate classification as an asset or part of an asset under the component approach, whereby every compo-nent whose useful life and related value can be autonomously assessed must be treated individually.All other costs are expensed to profit and loss as incurred.The useful lives, estimated by the Group for its various catego-ries of property, plant and equipment, are as follows:Industrial buildings 10 - 33 yearsPlant and machinery 5 - 18 yearsIndustrial and commercial equipment 3-10 yearsOther 3-10 yearsRight-of-use assetsIn accordance with IFRS 16 the right-of-use asset is valued as the present value of future payments (discounted at the inter-est rate implicit in the lease, if easily determined, or alternative-ly, at the incremental borrowing rate, namely the interest rate that the lessee must pay over the term of the loan and similar guarantees), the initial costs incurred directly by the lessee, any advance lease payments made and the estimate of the costs for elimination, removal and restoration. The asset value is systematically depreciated. Impairment of non-financial assetsThe Group tests, at least once a year, whether the book value of intangible assets and property, plant and equipment report-ed in the financial statements has suffered any impairment loss. If there is evidence of impairment, book value is written down to the related recoverable amount.If it is not possible to estimate the recoverable amount of an individual asset, the Group assesses whether the cash-gener-ating unit to which it belongs is impaired.In the case of goodwill and other intangible assets with indefi-nite useful lives, the impairment test must be carried out at least once a year, and whenever there is an indication that an intangible asset may be impaired.InventoriesInventories of raw materials, semi-finished and finished prod-ucts are valued at the lower of cost and market value. Cost is determined using the weighted average cost method. The val-uation of inventories includes the direct cost of materials and labour as well as indirect (variable and fixed) costs. Allowances for obsolete and slow-moving goods are calculat-ed for materials and finished products, taking account of their future expected use and net realizable value which corre-sponds to the estimated selling price in the ordinary course of business net the estimated costs of completion and the esti-mated costs necessary to make the sale.Financial instrumentsFinancial assetsUpon initial recognition, financial assets are classified based on the measurement methods used in one of the three catego-ries found in IFRS 9. The classification depends on the nature of the contractual cash flows and the business model the company uses to manage them.The business model refers to the way in which the cash flows are generated which can be from the collection of contractual cash flows, the sale of assets or both. A financial asset is classified among the assets valued at amortized cost if held as part of a business model where the objective is collecting contractual cash flows represented solely by payments to be made on certain dates, principal and interest. The valuation is made based on the effective interest rate.A financial asset is classified among the assets valued at fair value with changes passing through the comprehensive income statement if held as part of a business model where the objective is collecting contractual cash flows and selling the assets and the cash flows contemplated under the con-tract refer solely to payments of principal and interest made on predetermined dates. For the assets included in this category, the interest receivable, the foreign exchange differences and losses in value are recognized in the income statement for the reporting period; other changes in fair value are recognized in the comprehensive income statement. Upon elimination, the cumulative change in fair value recognized as other compre-hensive income is released to the income statement.During the initial recognition phase, equity instruments may be included in the category of assets measured at fair value with changes recognized in the comprehensive income statement.The category of assets valued at fair value with changes rec-ognized in the income statement include assets held for trad-ing, namely acquired to be sold in the short-term, and the assets designated as such. Upon initial recognition, equity in-struments not held for trading may be included in the category of financial instruments measured at fair value with changes recognized in the comprehensive income statement. This choice may be made for each asset and is irrevocable.The trade receivables without a significant financing compo-nent are valued at the transaction price determined in accord-ance with IFRS 15.Financial liabilitiesFinancial liabilities refer mainly to loans valued at amortized cost based on the effective interest rate.Financial liabilities are derecognized when the underlying obli-gation is extinguished, cancelled or fulfilled.Trade payables are recognized initially at present value and redetermined using the amortized cost method. Trade and other payables are reported as current liabilities unless pay-ment is expected to be made more than twelve months after the reporting date.Lease liabilitiesLease liabilities equal the present value of the payments paya-ble and not yet paid at the date of the financial statements dis-counted at the interest rate implicit in the lease, if easily deter-mined, or alternatively, at the incremental borrowing rate which is the rate that the lessee would pay on a loan with a similar duration and conditions. In the event the lease term, purchase options, the residual value guaranteed, or variable payments based on indices or rates, are redetermined, the lease liability is remeasured.DerivativesDerivatives are used solely for hedging purposes, in order to reduce exposures to currency and interest rate risk. As allowed by IFRS9, derivatives may qualify for special hedge accounting only when, at the inception of the hedge, the following condi-tions are satisfied:\u2022 there is a formal designation that the instrument is a hedg-ing one;\u2022 there is formal documentation of the hedging relationship, which is expected to be highly effective;\u2022 the effectiveness of the hedge can be reliably measured;\u2022 the hedge is highly effective throughout the different finan-cial reporting periods for which it was designated.In accordance with IFRS 9, all derivatives are measured at fair value determined based on the present value of the difference between the contractual forward exchange rate and the market forward exchange rate at the date of the financial report.If financial instruments qualify for hedge accounting, the fol-lowing treatment applies:Fair value hedge - If a derivative instrument is designated as a hedge of the exposure to changes in the fair value of a recog-nized asset or liability that is attributable to a particular risk that will affect profit or loss, the gain or loss from remeasuring the hedging instrument at fair value should be recognized in the income statement. The gain or loss on the hedged item at-tributable to the hedged risk adjusts the carrying amount of the hedged item and is recognized in the income statement.Cash flow hedge - If a derivative instrument is designated as a hedge of the exposure to variability in cash flows attributable to a highly probable forecasted transaction which could affect profit or loss, the effective portion of the gains or losses on the hedging instrument is recognized directly in the statement of comprehensive income. The effective portion of the cumula-tive gains or losses is reversed from net equity and reclassi-fied to profit or loss in the same period in which the hedged transaction is reported in the income statement. Gains or losses associated with a hedge or part thereof that has become ineffective are reclassified to the income statement. If a hedging instrument or hedging relationship is terminated, but the transaction being hedged has not yet occurred, the cu-mulative gains and losses, recorded up until then in the state-ment of comprehensive income, are reported in the income statement at the same time that the hedged transaction occurs. If the hedged transaction is no longer expected to occur, the unrealized gains or losses reported directly in net equity are immediately reclassified to the income statement. If hedge accounting cannot be applied, the gains or losses aris-ing from the fair value measurement of the derivatives are transferred immediately to the income statement.Net investment hedge - Hedges of a net investment in a for-eign 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 statement of comprehensive income, while any gains or losses relating to the ineffective portion are recognized in the statement of profit or loss. On disposal of the foreign operation, the cumulative value of any such gains or losses recorded in equity is transferred to the statement of profit or loss.Factoring of trade receivablesThe Group factors some of its trade receivables. Trade receiv-ables factored without recourse, resulting in the substantial transfer of the related risks and rewards, are derecognized from the financial statements at the time of their transfer. Re-ceivables whose factoring does not result in the substantial transfer of the related risks and rewards, are retained in the statement of financial position.The Group has entered an agreement for the factoring of trade receivables, involving the revolving monthly transfer of a port-folio of trade receivables without recourse.The receivables are assigned without recourse to a bank, which then transfers them to a special purpose entity which fi-nances the purchase of the receivables by issuing as-set-backed securities; the repayment of these securities, placed on the market and all subscribed by institutional inves-tors, as well as the related interest, depends on the cash flow generated by the portfolio of securitized receivables.The Group subscribes a limited quantity of securities without, however, prejudice to the requirements for the derecognition of the receivables. Receivables are sold at their face value, less a discount that reflects credit risk and the transaction\u2019s finan-cial costs. The Group acts as servicer for the special purpose entity. The contractual terms of this operation involve the sub-stantial transfer of the risks and rewards relating to the secu-ritized receivables and their consequent derecognition from the financial statements.Employee benefitsPension and other incentive plansNet obligations relating to employee benefit plans, chiefly the provision for severance indemnities (for the portion retained in Group companies) and pension funds, are recorded at the ex-pected future value of the benefits that will be received and which have accrued at the reporting date. The Group\u2019s obliga-tion to finance defined benefit pension funds and the annual cost reported in the income statement are determined by inde-pendent actuaries using the projected unit credit method. Equity based compensationThe Group grants additional benefits to a limited number of executives and key resources under the form of stock options. Based on IFRS 2 Share-based payment, the current value of the stock option determined on the grant date is recognized on a straight-line basis in the income statement as a payroll cost in the period between the grant date and the date on which the rights granted to employees, executives and others who rou-tinely provide services to one or more Group companies par-ties fully vest, with a corresponding increase in equity.At each reporting date the Group will revise estimates based on the number of options that are expected to vest, independ-ent of the fair value of the shares. Any differences with respect to the original estimates will be recognized in the consolidated income statement with a corresponding increase in equity.Once the stock option is exercised, the amounts received by the employee, net of transactions costs, will be credited to the Treas-ury stock reserve at the average price of the stocks on hand or, if the treasury stocks are not available, added to the share capital in the amount of the nominal value of the shares issued. The re-mainder will be recognized in the share premium reserve.The fair value of the stock options is determined using the Black-Scholes model which takes into account the conditions for the exercise of the right, the current share price, expected volatility, a risk free interest rate, as well as the non-vesting conditions.The fair value of the stock options is included within the Stock option Reserve.The dilutive effect of unexercised options will be reflected in the calculation of the diluted earnings per share.Provisions for contingencies and other chargesThe Group recognizes provisions for contingencies and charg-es when (i) it has a present obligation (legal or constructive) to third parties (ii) it is probable that the Group will need to employ resources to settle the obligation and (iii) a reliable es-timate can be made of the amount of the obligation. Changes in these estimates are reflected in the income statement in the period in which they occur (also see the comments in the para-graph on \u201cEstimates and assumptions\u201d).Where the effect of the time value of money is material and the date of extinguishing the liability can be reasonably estimated, provisions are stated at the present value of the expected ex-penditure, using a discount rate that reflects current market assessments of the time value of money and the risks specific to the liability. An increase in the amount of the provision for the time value of money is accounted for in interest expense. Contingencies for which the probability of a liability is not prob-able but neither remote are disclosed in the notes but no provi-sion is recognized.Recognition of revenuesThe item \u201cRevenues\u201d includes the consideration received for goods sold to customers and services rendered.Revenues represent the consideration owed in exchange for the transfer of goods and/or services to the customer, exclud-ing amounts received on behalf of third parties. The Group recognizes the revenue when contractual obligations are ful-filled, namely when control of the good or service is trans-ferred to the customer.Based on the five-step model introduced in IFRS 15, the Group recognizes revenue after the following requirements have been met:a) the parties have approved the contract (in writing, orally or in accordance with other common commercial practices) and are committed to fulfilling the respective performance obligations; an agreement between the parties which cre-ates rights and obligations regardless of the form of the agreement has, therefore, been created;b) the rights of each of the parties in relation to the goods and services to be transferred can be identified;c) the payment terms for the goods or services to be trans-ferred can be identified;d) the contract has commercial substance;e) it is probable that the Group will receive the consideration to which it is entitled in exchange for the goods or services transferred to the customer.If the consideration referred to in the contract has a variable component, the Group will estimate the amount of the consid-eration it will be entitled to in exchange for the goods or servic-es transferred to the customer.Based on the contractual terms and conditions, the clients may be entitled to return goods; in this instance, at the time of sale a liability is recognized, as well as an adjustment to reve-nues for the merchandise that could be returned. The Group recognizes the estimated product returns by reducing reve-nues and deducting their cost from the cost of goods sold. In accordance with IFRS 15, the amount corresponding to the cost of returns is recognized in \"Inventories\".The Group typically provides warranties for the repair of de-fects existing at the time of the sale, in accordance with the law. These warranties, which are standard warranties on quali-ty, are accounted for in accordance with IAS 37 - Provisions, Contingent Liabilities and Contingent Assets.\u201cOther revenues\u201d includes the amounts received by the Group in the form of public contributions. These contributions, recog-nized when it is reasonably certain that the qualifying condi-tions will be met and the contributions will be received, are in-cluded systematically in the net result relative to the years in which the costs that the contributions are intended to com-pensate are expensed. The public contributions recognized in capital accounts are recognized in the statement of financial position as deferred income.Costs and expensesCosts and expenses are accounted for on an accrual basis.DividendsDividend distributions represent a movement in net equity in the period in which they are declared by the shareholders in general meeting.Dividends received are reported when the Group is entitled to receive the payment.Income taxesIncome taxes include all the taxes calculated on the Group\u2019s taxable income. Income taxes are recorded in the income statement, except for those relating to items directly debited or credited to net equity, in which case the associated tax is rec-ognized directly in net equity.Deferred taxes are provided on the basis of global provision for the liability. They are calculated on all the temporary differenc-es emerging between the tax base of an asset or liability and their book value in the consolidated financial statements, except for goodwill whose amortization cannot be deducted for tax purposes and those differences arising from invest-ments in subsidiaries which are not expected to reverse in the foreseeable future. Deferred tax assets on the carryforward of unused tax losses and tax credits are recognized to the extent that it is probable that future taxable profit will be available against which these can be recovered. Current and deferred tax assets and liabilities may be offset when the income taxes are charged by the same tax authority and when there is a legal right of setoff. Deferred tax assets and liabilities are cal-culated at the tax rates that are expected to apply to the period when the asset is realized or the liability settled, based on tax rates and laws applying in the countries where the Group operates.Deferred taxes on reserves of distributable earnings in subsidi-aries are recognized only if it is probable that such reserves will be distributed.Any uncertainty regarding tax treatments is considered in the tax calculation in accordance with the recommendations of IFRIC 23 Uncertainty over Income Tax Treatments.Earnings per shareBasic earnings per share are calculated by dividing the earn-ings for the year payable to the parent company\u2019s ordinary shareholders by the weighted average number of ordinary shares outstanding during the period.The diluted earnings per share are calculated by dividing the earnings for the year payable to the parent company\u2019s ordinary shareholders by the weighted average number of ordinary shares outstanding during the period and the shares potential-ly issued following the exercise of assigned stock options.Estimates and assumptionsThis financial statement, prepared in accordance with IFRS, contain estimates and assumptions made by the Group relat-ing to assets and liabilities, costs, revenues and contingent lia-bilities at the reporting date. These estimates are based on past experience and assumptions considered to be reasona-ble and realistic, based on the information available at the time of making the estimate.The assumptions relating to these estimates are periodically reviewed and the related effects reflected in the income state-ment in the same period: actual results could therefore differ from these estimates. The following paragraphs discuss the principal assumptions used for estimation purposes and the principal sources of un-certainty, that have a risk of causing material adjustment to the book value of assets and liabilities in the future; details of book value can be found in the individual explanatory notes.Allowance for doubtful accountsThe allowance for doubtful accounts reflects estimated losses on trade receivables recognized in the financial statements and not covered by insurance. The losses equal the difference between the amounts the Group is entitled to receive based on contracts with customers and the estimated inflows.Changes in the economic environment could cause the perfor-mance of some of the Group\u2019s customers to deteriorate, with an impact on the recoverability of the uninsured portion of trade receivables.Recoverable amount of non-current assetsThe Group reviews all its non-financial assets at every report-ing date for any evidence of impairment. Goodwill and other intangible assets with an indefinite useful life are tested annu-ally for impairment. The recoverable amount of non-current assets is usually determined with reference to value in use, being the present value of the future cash flows expected from an asset\u2019s continuing use. The forecast cash flows are deter-mined based on the information available when estimated based on the opinion of the directors regarding the future per-formance of certain variables - such as prices and the subse-quent revenues, costs, increase in demand, production flows - which are discounted at a risk-adjusted rate. The test also involves selecting a suitable discount rate for calculating the present value of the expected cash flows.Employee benefitsThe cost of defined benefit pension plans is determined using actuarial valuations, based on statistical assumptions regard-ing discount rates, expected returns on investments, future salary growth and mortality rates.The Group believes the rates estimated by its actuaries to be reasonable for the year-end valuations, but cannot rule out that large future changes in rates could have a material impact on the liabilities recognized in the financial statements.Deferred tax assets recoverabilityDeferred tax assets include those relating to carryforward tax losses to the extent that there is likely to be sufficient future taxable profit against which such losses can be recovered.Management must use their discretion when determining the amount of deferred tax assets for recognition in the financial statements. They must estimate the likely timing of reversal and the amount of future taxable profit, as well as the future tax planning strategy.Provisions for contingenciesThe Group makes several provisions against disputes or risks of various kinds relating to different matters falling under the jurisdiction of different countries. The determination, probabili-ty and quantification of these liabilities involve estimation pro-cesses that are often very complex, for which management uses all the available information at the date of preparing the financial statements, including with the support of legal and tax advisors.Product warranty provisionsThe Group makes provisions for the estimated cost of product warranties. Management establishes the amount of these pro-visions on the basis of past trends relating to the frequency and average cost of under-warranty repairs and replacement.Change in the scope of consolidationOn 27 February 2024 the Group finalized the agreements for a business combination between Eversys, leader in the produc-tion and distribution of automatic coffee machines, and La Marzocco, leader in the production and distribution of semi-automatic coffee machines and coffee grinders.With this transaction, La Marzocco and Eversys will be able to further strengthen their position along the entire value chain, from research and engineering to production and market de-velopment, while creating a global player able to effectively compete in a leadership position in different market segments, such as automatic machines, traditional machines and luxury household, offering a variety of complementary products, technologies and brandsThe deal is in line with the Group\u2019s strategic guidelines, which see the further consolidation of its leadership in the world of coffee and the expansion of its presence in the professional channel as key to medium-term developmentThe transaction can be classified as a \u201ctransaction between related parties of greater importance\u201d, due to the fact that De\u2019 Longhi S.p.A. and La Marzocco International LLC are subject to the common control of De\u2019 Longhi Industrial S.A.As such, the transaction was subject to the prior approval of the Committee of Independent Directors, responsible for ma-terial related party transactions and approved unanimously by De\u2019 Longhi S.p.A.\u2019s Board of Directors, with the abstention of the Chairman Giuseppe de\u2019 Longhi and the Directors Fabio de\u2019 Longhi and Silvia de\u2019 Longhi, in accordance with laws and reg-ulations governing related party transactions. For further infor-mation, the reader should refer to \u201cInformation Document for Major Transactions with Related Parties\u201d issued on 28 Decem-ber 2023.As a result of the transaction a new corporate structure, con-trolled by De\u2019 Longhi S.p.A., was created through the contribu-tion of Eversys and the Group\u2019s purchase of the shares (held directly and/or indirectly) of La Marzocco International LLC (around 41.2% of the share capital) from De\u2019 Longhi Industrial S.A. and the minority shareholders. The remaining shares of La Marzocco were also transferred to the new corporate entity by the shareholders.Following the transaction, finalized on 27 February 2024, the Group controls approximately 61.6% of the new entity, while De\u2019 Longhi Industrial S.A. and La Marzocco, the previous shareholders, have minority stakes of approximately 26.5% and 12%, respectively.The De\u2019 Longhi Group\u2019s total net cash-out came to around US$ 373 million, of which US$ 200 million paid to De\u2019 Longhi Indus-trial S.A. (for 22.1% of La Marzocco) and US$ 173 million paid to the minority shareholders of La Marzocco (for 19.1% of La Marzocco).The consolidation of financials started on 1 March 2024 since the impacts of the transactions occurred in the period be-tween this date and the date of the combination itself were not significant.During the 2024, the consideration paid was allocated to the assets and liabilities acquired.As the transaction is the result of a business combination of companies subject to common control, based on which the parent company reallocated the production assets already controlled and managed within the scope of its consolidation, the figures recognized for the business acquired are those found in the last consolidated annual report approved by the parent company De\u2019 Longhi Industrial S.A.The assets and liabilities acquired are summarized below:Values in $/000 Values in \u20ac/000NON-CURRENT ASSETSINTANGIBLE ASSETS 450,448 417,082- Goodwill 324,824 300,763- Other intangible assets 125,624 116,319PROPERTY, PLANT AND EQUIPMENT 65,263 60,429EQUITY INVESTMENTS AND OTHER FINANCIAL ASSETS 995 921DEFERRED TAX ASSETS 9,955 9,218TOTAL NON-CURRENT ASSETS 526,661 487,650CURRENT ASSETSINVENTORIES 55,587 51,469TRADE RECEIVABLES 22,283 20,632CURRENT TAX ASSETS 8,124 7,523OTHER RECEIVABLES 9,826 9,098CURRENT FINANCIAL RECEIVABLES AND ASSETS 4,247 3,933CASH AND CASH EQUIVALENTS 46,776 43,311TOTAL CURRENT ASSETS 146,843 135,966TOTAL ASSETS 673,504 623,616NET EQUITYTOTAL NET EQUITY 541,152 501,067NON-CURRENT LIABILITIESFINANCIAL PAYABLES 19,117 17,701DEFERRED TAX LIABILITIES 35,647 33,007NON-CURRENT PROVISIONS FOR CONTINGENCIES AND OTHER CHARGES 21,210 19,639TOTAL NON-CURRENT LIABILITIES 75,974 70,347CURRENT LIABILITIESTRADE PAYABLES 23,365 21,634FINANCIAL PAYABLES 12,512 11,585CURRENT TAX LIABILITIES 1,235 1,144OTHER PAYABLES 19,266 17,839TOTAL CURRENT LIABILITIES 56,378 52,202TOTAL NET EQUITY AND LIABILITIES 673,504 623,616The difference between the purchase price paid in cash, the net value of the assets acquired and the value of the assets contributed to the business combination was recognized as a movement in net equity as the transaction was with share-holders of the parent company:Values in \u20ac/000Purchase price paid 345,560Fair value of assets and liabilities 501,067acquiredMinority interest 178,732Transaction with shareholders (23,225)Disclosure by operating segmentsPlease refer to Note 45. Operating segments.The report on operations contains comments on the econom-ic results by geographical area.1. RevenuesIn 2024 revenues, including revenues from sales and services and other revenues, amount to \u20ac3,497,555 thousand (\u20ac3,075,904 thousand in 2023).Revenues are broken down by geographical area as follows:% % 20242023Change Change %revenuesrevenuesEurope 2,153,751 61.6% 1,907,052 62.0% 246,699 12.9%America 652,278 18.6% 547,0 46 17.8% 105,232 19.2%Asia Pacific 488,394 14.0% 447,374 14.5% 41,020 9.2%MEIA (Middle 203,132 5.8% 174,432 5.7% 28,700 16.5%East/India/Africa)Total 3,497,555 100.0% 3,075,904 100.0% 421,651 13.7%Comments on the most significant changes can be found in the \u201cMarkets\u201d section of the report on operations.\u201cOther revenues\u201d is broken down as follows:2024 2023 ChangeFreight reimbursement 6,952 5,101 1,851Governement grants and 5,774 1,086 4,688contributionsCommercial rights 2,506 2,128 378Damages reimbursed 1,920 1,313 607Other income 34,768 23,190 11,578Total 51,920 32,818 19,102With regard to Law n. 124 of 4 August 2017, which regulates transparency in public funding, the item \u201cGrants and contributions\u201d includes income of \u20ac383 thousand stemming from the incentives granted by Gestore dei Servizi Energetici GSE S.p.A. for the production of energy at Italian plants through photovoltaic systems connected to the grid. The item includes also government grants received for the expansion of the production plant in Romania.2. Raw and ancillary materials, consumables and goodsThe breakdown is as follows:2024 2023 ChangeParts 689,239 6 47,925 41,314Finished products 598,426 529,618 68,808Raw materials 202,392 102,411 99,981Other purchases 25,107 21,500 3,607Total 1,515,164 1,301,454 213,7103. Change in inventoriesThe difference between the overall change in inventories reported in the income statement andthe change in balances reported in the statement of financial position is mainly due to variation inthe consolidation perimeter and differences arising on the translation of foreign subsidiaries fi-nancial statements.4. Payroll costsThese costs include \u20ac162,170 thousand in production-related payroll (\u20ac133,139 thousand in2023). 2024 2023 ChangeEmployee wages and salaries 444.977 368.842 76.135Temporary workers 39.730 24.404 15.326Total 484.707 393.246 91.461In 2024, the item includes non-recurring expense of \u20ac1,630 thousand (\u20ac1,036 thousand in 2023),referring to corporate reorganization.The figures relating to the cost of employee benefits provided by certain Group companies in Italyand abroad are reported in note 34. Employee benefits.The item includes \u20ac9,950 thousand relating to the notional cost (fair value) of the stock option plan 2020-2027 (\u20ac907 thousand in 2023); please refer to notes 27. Sahre-based incentive plans and 34. Employee benefits for more information.The average size of the Group\u2019s workforce during the year is analyzed as follows:2024 2023Blue collars 6,798 6,437White collars 3,557 3,185Managers 376 304Total 10,731 9,9265. Services and other operating expensesThese are detailed as follows:2024 2023 ChangePromotional expenses 280,727 253,340 27,387Transport (for purchases and 158,074 133,748 24,326sales)Advertising 155,114 140,456 14,658Consulting services 48,471 41,951 6,520Subcontracted work 45,633 45,491 142Storage and warehousing 29,583 25,390 4,193Technical support 29,461 28,461 1,000Rentals and leasing 20,798 23,618 (2,820)Commissions 19,186 16,031 3,155Travel 16,526 12,816 3,710Power 14,721 14,582 139Insurance 12,163 10,747 1,416Maintenance 7,956 5,146 2,810Product certification and 7,117 6,498 619product inspection feesOther utilities and cleaning 6,394 5,788 606fees, security, waste collectionDirectors' emoluments 5,839 3,201 2,638Postage, telegraph and 5,575 4,747 828telephonesStatutory auditors' 456 295 161emolumentsOther sundry services 67,023 55,482 11,541Total services 930,817 827,788 103,029Sundry taxes 53,432 47,950 5,482Bad debts 99 364 (265)Out-of-period losses 38 212 (174)Other 11,866 8,893 2,973Total other operating 65,435 57,419 8,016expensesTotal 996,252 885,207 111,045In 2024, the item includes net non-recurring expenses for \u20ac1,721 thousand (\u20ac4,727 thousand in 2023) mainly related to advisory and consultancy services connected to the La Marzocco/Ever-sys business combination.In 2024 the item \u201cRentals and leasing\u201d includes \u20ac1,803 thousand in commercial rights (\u20ac427 thou-sand in 2023).In addition, it includes operating costs relating to contracts that are not or do not contain a lease (\u20ac16,211 thousand, \u20ac20,897 thousand in 2023), as well as costs relating to leases of less than twelve months\u2019 duration (\u20ac1,610 thousand, \u20ac1,846 thousand in 2023) or relating to low-value assets (\u20ac1,174 thousand, \u20ac448 thousand in 2023); for further information, please refer to note 15. Leases.6. Provisions These include \u20ac25,048 thousand in provisions for contingencies and other charges and a net in-crease of \u20ac103 thousand in provision for doubtful accounts. In 2024 the item includes net non-re-curring expenses for \u20ac2,961 thousand related to corporate reorganisation. The main changes in this item are discussed in note 35. Other provisions for non-current contingencies and charges.7. Amortization The breakdown is as follows:2024 2023 ChangeAmortization of intangible 27,821 27,550 271assetsDepreciation of property, 63,259 57,343 5,916plant and equipmentDepreciation of Right of Use 26,542 23,298 3,244assetsTotal 117,622 108,191 9,431More details about amortization and depreciation can be found in the tables reporting move-ments in intangible assets and property, plant and equipment.8. Non-recurring income/(expenses)In these financial statements, some items of a non-recurring nature resulting in net expenses of \u20ac390 thousand were shown separately. This item includes the costs for services connected to the La Marzocco/Eversys business combination and the costs arising from the ongoing reorgan-ization of the company. The economic impact of the purchase price allocation stemming from the acquisitions of Capital Brands are also included.The non-recurring amounts are shown in the income statement, in the corresponding item of the statement.9. Net financial income (expenses)Net financial income and expenses are broken down by nature as follows:2024 2023 ChangeExchange differences and gains (losses) on currency (1,870) 1,970 (3,840)hedges (*)Share of profit of equity investments consolidated by 753 (589) 1,342the equity methodInterest for leasing (2,935) (1,896) (1,039)Net interests 9,295 1,200 8,095Other financial income (6,670) (3,015) (3,655)(expenses)Other net financial income (310) (3,711) 3,401(expenses)Net financial income (1,427) (2,330) 903(expenses) (*) The item includes \u20ac20 thousand relating to exchange rate losses on leases accounted for in accordance with IFRS 16 Leases.\u201cExchange differences and gains (losses) on currency hedges\u201d includes the rate differentials on currency risk hedges, as well as the exchange differences linked to consolidation.\u201cShare of profit of equity investments consolidated by the equity method\u201d includes income from the joint venture TCL/DL, dedicated to the manufacture of portable air conditioners. Interest on leases is equal to the portion of financial expenses payable matured in the reporting period on a liability, recognized in accordance with IFRS 16 Leases. For more information see note 15. Leases.\u201cNet interests\u201d includes interest received on the Group\u2019s investments for an amount of \u20ac34,751 thousand (\u20ac32,276 thousand in 2023), net of the bank interest on the Group\u2019s financial debt (re-calculated using the amortized cost method), and the cost of other financial instruments for an amount of \u20ac25,456 thousand (\u20ac31,076 thousand in 2023).\u201cOther financial income (expenses)\u201d include bank charges, financial expenses arising from the actuarial calculation of the long-term employee benefits and other financial charges for a total amount of \u20ac9,264 thousand (\u20ac5,896 thousand in 2023), net of gain arising from investments eval-uated at fair value through profit and loss for an amount of \u20ac2,594 thousand (\u20ac2,881 thousand in 2023).10. Income taxesThese are analyzed as follows:2024 2023 ChangeCurrent income taxes:- Income taxes 98,657 78,135 20,522- IRAP (Italian regional 7,161 5,923 1,238business tax)Deferred (advanced) taxes (1,394) (7,172) 5,778Total 104,424 76,886 27,538\u201cDeferred (advanced) taxes\u201d include the taxes calculated on the temporary differences arising between the accounting values of assets and liabilities and on the corresponding tax base (par-ticularly for taxed provisions recognized by the parent company and its subsidiaries) and on the distributable income of the subsidiaries.They also include the benefit arising from the carryforward of unused tax losses which are likely to be used in the future.Current income taxes reflect Pillar 2 application. Based on the information available and reasonable estimates, the De' Longhi Group\u2019s exposure to Pillar 2 income taxes at 31 December 2024 refers mainly to the United Arab Emirates, in the amount of \u20ac2.4 million. The remainder of \u20ac0.2 million is broken down into immaterial amounts, relating to different jurisdictions. The total allocation of \u20ac2.6 million was recognized in the income statement as an increase to \u201cIncome taxes\u201d and to liabilities under \u201cTax payables\u201d. The Group will continue to assess the impact that Pillar 2 income taxes will have on its future fi-nancial results.The actual and theoretical tax charge are reconciled here below:2024 % 2023 %Profit before taxes 429,374 100.0% 327,298 100.0%Theoretical taxes 103,050 24.0% 78,552 24.0%Other (*) (5,787) (1.3%) (7,589) (2.3%)Total income taxes 97,263 22.7% 70,963 21.7%IRAP (Italian regional 7,161 1.7% 5,923 1.8%business tax)Actual taxes 104,424 24.3% 76,886 23.5%(*) Mostly refers to the net tax effect of permanent differences, of different tax rates applied abroad relative to the theoretical ones applied in Italy, of adjustments on prior years taxes. 11. Goodwill31.12.2024 31.12.2023Gross Net Gross NetGoodwill 700,955 694,208 378,433 371,686The change in \u201cGoodwill\u201d refers to the recent La Marzocco business combination for \u20ac300,763 thousand (for more information refer to the section \u201cChange in the scope of consolidation\u201d) and, for the remainder, to the impact that currency exchange had on the goodwill recognized for inter-national acquisitions at 31 December 2024.Goodwill is not amortized because it is considered to have an indefinite useful life. Instead, it is tested for impairment at least once a year to identify any evidence of loss in value. For the purposes of impairment testing, goodwill is allocated to the CGUs (cash generating units), namely the historic divisions De\u2019Longhi, Kenwood and Braun, as well as the more recently ac-quired Capital Brands and Eversys, and finally La Marzocco during 2024, as follows:Cash-generating unit 31.12.2024De'Longhi 25,162Kenwood 17,120Braun 48,836Capital Brands 194,794Eversys 95,853La Marzocco 312,443Total 694,208The objective of the impairment test is to determine the value in use of the CGU to which the goodwill refers, meaning the present value of the future cash flows expected to be derived from continuous use of the assets; any cash flows arising from extraordinary events are therefore ignored. More specifically, value in use is determined by applying the discounted cash flow method to forecast cash flows contained in plans prepared assuming growth scenarios based on the information available at the reporting date, including the 2025 budget and the 2024-2026 Plan approved by the Board of Directors and integrated, solely in specific situations, with updated con-siderations which take into account commercial actions determined subsequent to the approval of the plan. Plan data was projected beyond the explicit planning period, of not more than five years, determined based on common valuation practices, namely using a perpetuity growth rate that was no higher than those expected for the markets in which the individual CGUs operate. The growth rate in termi-nal values used for projecting beyond the planning period was therefore in a range of 2.1% to 2.4% for the different CGUs, deemed representative of a precautionary growth rate in terminal values.The cash flows and discount rate were determined net of tax.Discount rates were calculated using the Weighted Average Cost of Capital (WACC) obtained from data from a sample of comparable companies.The discount rates utilized, which vary between 5.8% and 8.1% for the different cash-generating units, therefore, reflect the estimated market valuations and the time value of money at the re-porting date, as well as sector risks.The impairment tests carried out at the end of 2024 have not revealed any other significant evi-dence of goodwill impairment.The recoverable amounts shown in the impairment tests and the sensitivity analysis are much higher than book value for all the CGUs.The results obtained using the discounted cash flow method have been tested for their sensitivity to changes in certain key variables, within reasonable ranges and on the basis of mutually con-sistent assumptions. The variables altered were the discount rate (between 5.6% and 8.3%) and the growth rate in terminal value (in the range 1.9%-2.6%).The estimated recoverable amounts for all the CGUs, however, were higher than book value and the sensitivity analyses point to relatively stable results; in fact, the minimum and maximum amounts diverged by around 10% from the central point when both variables were altered.Group Board of Directors approved the assumptions and the criteria used to perform the impair-ment tests.However, estimating CGU recoverable amount requires management to make discretionary judgements and estimates. In fact, several factors also associated with developments in the diffi-cult market context could make it necessary to reassess the value of goodwill. The Group will be constantly monitoring those events and circumstances that might make it necessary to perform new impairment tests.12. Other intangible assetsThese are analyzed as follows:31.12.2024 31.12.2023Gross Net Gross NetNew product development 167,368 25,812 152,825 22,681costsPatents 118,780 62,781 85,162 35,705Trademarks and similar rights 530,894 423,650 441,475 334,484Work in progress and 27,016 25,796 22,772 21,552advancesOther 144,335 91,079 135,881 92,222Total 988,393 629,118 838,115 506,644The following table reports movements in the main asset categories during 2024:New Trade-Work in product marks progress develop-Patentsand Other Totaland ment similar advancescostsrightsNet opening balance 22,681 35,705 334,484 21,552 92,222 506,644Additions 1,311 856 202 14,251 1,221 17,8 41Amortization (11,430) (6,542) (252) - (9,597) (27,821)Changes in consolida-- 32,040 79,103 3,442 1,734 116,319tion areaTranslation differences and other movements 13,250 722 10,113 (13,449) 5,499 16,135(*)Net closing balance 25,812 62,781 423,650 25,796 91,079 629,118(*) \u201cOther movements\u201d refers primarily to the reclassification of intangible assets.The principal additions refer to the capitalization of new product development projects, based on detailed reporting and analysis of the costs incurred and the estimated future usefulness of such projects.The Group has capitalized a total of \u20ac14,253 thousand in development costs as intangible assets in 2024, of which \u20ac1,311 thousand in \u201cNew product development costs\u201d for projects already com-pleted at the reporting date and \u20ac12,942 thousand in \u201cWork in progress and advances\u201d for pro-jects still in progress.\u201cPatents\u201d mostly refers to the value of industrial patent rights and to costs for developing and inte-grating data processing systems. The increase refers primarily to the purchase of patents used in professional coffee machine segment.\u201cTrademarks and similar rights\u201d includes a few trademarks calculated based on an indefinite useful life in accordance with IAS 38, taking into account, above all, brand awareness, economic benefits, reference market characteristics, brand specific strategies and the amount of invest-ments made to sustain the brands: \u20ac79.8 million for the \u201cDe\u2019 Longhi\u201d trademark, \u20ac95.0 million for the perpetual license over the \u201cBraun\u201d brand, \u20ac127.6 million for the Nutribullet/MagicBullet trade-mark, \u20ac38.6 million for the Eversys trademark, and \u20ac81.8 million for the La Marzocco trademark.The impairment test carried out at the end of 2024 for brands with an indefinite useful life, in order to confirm the result of the impairment test already conducted to verify the invested capital allocated to each CGU (described in note 11. Goodwill), did not reveal any evidence that these assets might have suffered an impairment loss.The method used to test impairment involves discounting to present value the royalties that the Group would be able to earn from permanently granting third parties the right to use the trade-marks in question.This method, which is based on royalty cash flows and reasonably estimated sales volumes, is the most commonly used for company valuation purposes since it is able to provide a suitable expression of the relationship between the strength of the trademark and business profitability.The discount rates used, which vary between 6.6% and 8.9% net of tax, reflect market valuations and the time value of money at the reporting date. The growth rate in terminal values used for projecting beyond the planning period was in a range from 2.1% to 2.4% for the different CGUs, deemed representative of a precautionary growth rate in terminal values.The cash flows discounted to present value are stated net of tax (in keeping with the discount rate).The results of the impairment test have been tested for their sensitivity to changes in certain key variables, within reasonable ranges and on the basis of mutually consistent assumptions. The variables altered were the discount rate (between 6.4% and 9.1%) and the growth rate in terminal value (in the range 1.9%-2.6%).The sensitivity analysis using actuarial (changes in the discount and growth rates) revealed rela-tively stable results; in fact, the minimum and maximum amounts had a deviation of around 10% when both variables were changed.\u201cOther intangible assets\u201d is explained primarily by the value of the portfolio recognized following allocation of the purchase price to Capital Brands, subject to amortization based on the estimat-ed useful life.13. Land, property, plant and machineryThese are analyzed as follows: 31.12.2024 31.12.2023Gross Net Gross NetLand and buildings 291,329 213,895 219,496 156,781Plant and machinery 217,421 86,444 186,474 69,976Total 508,750 300,339 405,970 226,757The following table reports movements during 2024:Plant and Land and buildingsTotalmachineryNet opening balance 156,781 69,976 226,757Additions 4,913 15,893 20,806Disposals (9) (145) (154)Amortization (9,968) (12,538) (22,506)Changes in consolidation 25,412 7,415 32,827areaTranslation differences and 36,766 5,843 42,609other movementsNet closing balance 213,895 86,444 300,339The increases and other movement in \u201cLand and buildings\u201d refer mainly to the investments made to complete structural work at the Treviso headquarters, and improvements made in manufactur-ing, namely enhancement of the production plants in Romania, the expansion of Eversys\u2019s Swiss plant and improvements at La Marzocco\u2019s production facilities.The increases and other movements in \u201cLand and Building\u201d relate primarily to investments related to the premises in Treviso for the headquarter and to the industrial plants, namely the improve-ments to the production plants in Romania, to the Eversys\u2019 factory in Switzerland and to La Mar-zocco industrial sites.The investments in \u201cPlants and machinery\u201d refer mainly to increases of the production lines for coffee machine in Italy and to the purchases of machinery for the plants in Romania and China. The other movements refer mainly to the reclassification of the amount relating to the invest-ments made in the previous years in the production plants previously classified under tangible assets in progress.14. Other tangible assetsOther tangible assets are analyzed as follows:31.12.2024 31.12.2023Gross Net Gross NetIndustrial and commercial 433,783 71,362 394,534 70,580equipmentOther 105,863 26,707 95,252 21,789Work in progress and 54,243 54,243 62,430 62,430advancesTotal 593,889 152,312 552,216 154,799The following table reports movements during 2024:Industrial and Work in commercial Otherprogress and TotalequipmentadvancesNet opening balance 70,580 21,789 62,430 154,799Additions 19,759 12,682 32,390 64,831Disposals (508) (218) (277) (1,003)Amortization (30,460) (10,293) - (40,753)Changes in consolidation 6,864 1,538 7,451 15,853areaTranslation differences and 5,127 1,209 (47,751) (41,415)other movementsNet closing balance 71,362 26,707 54,243 152,312The additions to \"Industrial and commercial equipment\" refer primarily to the purchase of mouldsfor the manufacturing of new products.The increase in \u201cWork in progress\u201d refers mainly to the development plan for the headquartersand investments in improvements at the plants in Switzerland, Romania and China.15. LeasingExisting leases are functional to the Group\u2019s operations and refer mainly to the leasing of proper-ties, automobiles and other capital goods.Movements in the leased right of use assets in 2024 are shown below:Industrial Land and and Plant and Other Totalbuildingscommercial machineryequipmentNet opening balance 85,803 2,143 2,137 6,342 96,425Additions 20,611 1,176 10 4,250 26,047Disposals (343) (101) - (153) (597)Amortization (22,377) (620) (229) (3,316) (26,542)Changes in consolidation 11,410 - 205 134 11,749areaTranslation differences and 675 56 1 141 873other movements Net closing balance 95,779 2,654 2,124 7,398 107,955In 2024, the result for the period includes depreciation and amortization for \u20ac26,542 thousand, interest payable for \u20ac2,935 thousand and exchange gains for \u20ac20 thousand, while \u20ac27,586 thou-sand in lease payments were reversed.At 31 December 2024 financial liabilities for leases of \u20ac110,411 thousand (of which \u20ac84,202 thou-sand expiring beyond 12 months) and financial assets for advanced payments of \u20ac428 thousand, included in \u201cCurrent financial receivables and assets\u201d, were recognized in the financial statements (please refer to note 24)The maturities of the undiscounted lease liabilities (based on contractual payments) are shown below:Undiscounted Payable Payable in Payable in 1-5 flows at within one more than years31.12.2024yearfive years Lease liabilities 120,130 28,768 69,632 21,730The adoption of IFRS 16 - Lease negatively affected Group net equity at 31 December 2024 for \u20ac2,813 thousand.16. Equity investmentsDetails of equity investments are as follows: 31.12.2024 31.12.2023Equity investments consolidated using the 5,170 4,243equity methodInvestment measured at fair value 53 51Total 5,223 4,294\u201cEquity investments consolidated using the equity method\u201d refers to the equity investments sub-ject to joint control as per contractual agreements and associated companies, accounted for using the equity method in accordance with IAS 28 - Investments in associates and joint venture.The changes in 2024 are shown below:31.12.2024Net opening balance 4,243Interest in net profit 753Exchange rate differences 174Net closing balance 5,17017. Non-current receivablesThe balance at 31 December 2024 of \u20ac5,721 thousand mainly refers to security deposits (\u20ac5,400 thousand at 31 December 2023).18. Other non-current financial assetsThis item includes investments made as part of the Group\u2019s liquidity management with primary counterparts, namely financial assets that will be held until maturity consistent with the business model objective to receive contractual cash flows (principal and interest) at specific maturities which were, therefore, accounted for using the amortized cost method.The item mainly includes \u20ac30,191 thousand relating to three bonds with a total nominal value of \u20ac30,000 thousand, maturing in 2026 and 2027, and \u20ac100,327 thousand relating to four floating rate notes, maturing in 2026 and 2027 with semi-annual and quarterly coupons (par value of \u20ac100,200 thousand).No signs of impairment emerged about the balances recognized in the financial statements.19. Deferred tax assets and deferred tax liabilitiesDeferred tax assets and deferred tax liabilities are analyzed as follows:31.12.2024 31.12.2023Deferred tax assets 74,177 60,413Deferred tax liabilities (112,758) (72,164)Net closing balance (38,581) (11,751)\"Deferred tax assets\" and \"Deferred tax liabilities\" include the taxes calculated on temporary dif-ferences between the carrying amount of assets and liabilities and their corresponding tax base (particularly taxed provisions recognized by the parent company and its subsidiaries), the tax ef-fects associated with the allocation of higher values to fixed assets as a result of allocating con-solidation differences based on the applicable tax rate and the deferred taxes on the distributable income of subsidiaries. Deferred tax assets are calculated mainly on provisions and consolida-tion adjustments. They also include the benefit arising from the carryforward of unused tax losses which are likely to be used in the future.Leasing and other transactions which upon initial recognition result in taxable and deductible dif-ferences of the same amount include deferred tax assets of \u20ac13,266 thousand reported net of the deferred tax liabilities of \u20ac12,592 thousandThe net balance is analyzed as follows:31.12.2024 31.12.2023Temporary differences (40,704) (16,536)Tax losses 2,123 4,785Net closing balance (38,581) (11,751)The change in the net asset balance reflects a decrease of \u20ac1,018 thousand through equity rec-ognized in the \u201cFair value and cash flow hedge reserve\u201d following the fair value measurement of securities and cash flow hedges, and an increase of \u20ac33 thousand recognized in \u201cProfit (loss) carried forward\u201d relating to the actuarial gains and (losses) recognized in the comprehensive income statement in accordance with IAS 19 - Employee benefits.20. Inventories\"Inventories\", shown net of an allowance for obsolete and slow-moving goods, can be analyzed as follows:31.12.2024 31.12.2023Finished products and goods 492,658 378,890Raw, ancillary and consumable materials 147,521 142,747Work in progress and semi-finished products 42,018 35,431Inventory writedown allowance (60,347) (52,390)Total 621,850 504,678The value of inventories is stated after deducting an allowance for obsolete or slow-moving goods totaling \u20ac60,347 thousand (\u20ac52,390 thousand at 31 December 2023) relation to products and raw materials that are obsolete and slow-moving or are no longer of strategic interest to the Group.21. Trade receivablesThese are analyzed as follows:31.12.2024 31.12.2023Trade receivables- due within 12 months 344,486 283,483- due beyond 12 months 8 -Allowance for doubtful accounts (8,349) (10,791)Total 336,145 272,692Trade receivables are stated net of an allowance for doubtful accounts of \u20ac8,349 thousand, repre-senting a reasonable estimate of the expected losses during the entire life of the receivables. The allowance takes account of the fact that a significant portion of the receivables are covered by insurance policies with major insurers.Movements in the allowance for doubtful accounts are shown in the following table:Translation Changes in Provisions/differences 31.12.2023consolidation 31.12.2024Releasesand other areamovementsAllowance for doubtful 10,791 103 (3,509) 964 8,349accounts In addition to the change in the scope of consolidation, the change in the allowance for doubtful accounts refers to provisions for expected losses net utilization during the year to cover bad debt for which provisions had already been made. The Group has received guarantees from customers as collateral against trade balances; in addi-tion, a significant portion of the receivables are covered by insurance policies with major insurers. More details can be found in note 42. Risk management.In accordance with the disclosure required by Consob Circular 3369 of 9 April 1997, we report that the total amount of receivables factored without recourse and outstanding at 31 December 2023 is \u20ac224,851 thousand (\u20ac199,680 thousand at 31 December 2023). The total amount of re-ceivables factored by the Group (turnover) during 2024 (under Law 52/1991 known as the Factor-ing Law) was \u20ac862,244 thousand (\u20ac809,397 thousand during 2023).22. Current tax assetsThese are analyzed as follows:31.12.2024 31.12.2023Direct tax receivables 4,559 14,125Tax payments on account 5,881 5,552Tax refunds requested 901 567Total 11,341 20,244There are no current tax assets due beyond 12 months.23. Other receivables\"Other receivables\" are analyzed as follows:31.12.2024 31.12.2023VAT 21,841 16,708Other tax receivables 4,733 3,933Prepaid insurance costs 3,882 4,504Advances to suppliers 3,338 6,444Employees 423 207Other 18,442 11,899Total 52,659 43,695This item includes other receivables due beyond 12 months of \u20ac1 thousand (\u20ac1 thousand at 31 December 2023).24. Current financial receivables and assets\"Current financial receivables and assets\" are analyzed as follows: 31.12.2024 31.12.2023Fair value of derivatives 15,400 12,507Advances for leasing contracts 428 220Fair value of other current financial assets 70,515 68,163Other current financial assets 107,770 91,582Total 194,113 172,472More details on the fair value of derivatives can be found in note 42. Risk management.\u201cOther current financial assets\u201d includes the amount of investments made as part of liquiditymanagement measured at fair value.25. Cash and cash equivalentsThis balance consists of surplus liquidity on bank current accounts and other cash equivalents,as well as investments in liquidity and similar.The cash balances at 31 December 2024 include \u20ac4 thousand in current accounts of certain sub-sidiaries, that are restricted, having been given as collateral.Net equityThe primary objective of the Group's capital management is to maintain a solid credit rating and adequate capital ratios in order to support its business and maximize value for shareholders.On 19 April 2024 the Shareholders\u2019 Meeting of De\u2019 Longhi S.p.A. resolved to distribute a total of \u20ac101,017 thousand as dividends, fully paid during 2024.Movements in the equity accounts are reported in one of the earlier schedules forming part of the financial statements; comments on the main components and their changes are provided below.26. Treasury sharesDuring the Shareholders\u2019 Meeting held on 19 April 2024, shareholders approved the renewal - after revoking the previous authorization granted by shareholders - of the authorization to pur-chase and sell treasury shares for up to a maximum of 14.5 million ordinary shares or an amount which does not exceed one fifth of the share capital, including any shares held by the Company or any of its subsidiaries. The buyback program was approved, in accordance with the law, for a period of up to a maximum of 18 months (namely through 19 October 2025).At 31 December 2024, the Group did not hold treasury shares directly through the parent compa-ny De\u2019 Longhi S.p.A. or through subsidiaries, trusts or intermediaries.The Group announced a share buyback program starting from 16 January 2025, within the terms authorized by the aforementioned shareholders' Annual General Meeting.The program, aimed at providing funding in relation to present and future compensation plans based on financial instruments as well as other purposes authorized by the aforementioned AGM, will have a duration of up to maximum 6 months, for an amount of approx. \u20ac60 million (equal to approximately 1.4% of the share capital at current prices), not beyond the maximum limit of the number of shares within the terms authorized by the AGM, subject to the cases of early termination.The purchase price cannot exceed \u20ac45 per share and may not be more than 15% lower or higher than the reference price recorded by the stock in the market session on the previous three days.The purchases will be carried out exclusively on regulated markets where the Company's ordi-nary shares are exchanged, in accordance with the operating modes established in the regula-tions for the organization and the management of the markets themselves, to ensure equal treat-ment between shareholders and compliance with all public disclosure obligations.To this end, De' Longhi S.p.A. has signed a contract with a third-party intermediary, which is pro-ceeding with the purchase of treasury shares in full independence, in compliance with the con-tractually agreed parameters and criteria, as well as the applicable legislation and the aforemen-tioned shareholders\u2019 meeting resolution.27. Share-based incentive plansThere were two share-based incentive plans in place at 31 December 2024 referred to as the \"2020-2027 Stock Option Plan\" and the \"2024-2026 Performance Shares Plan\", respectively.The \u201c2020-2027 Stock Option Plan\" was approved by shareholders of De\u2019 Longhi S.p.A. during the Annual General Meeting held on 22 April 2020.In order to service this plan, the Shareholders\u2019 Meeting approved an additional increase in share capital for up to a maximum nominal amount of \u20ac4,500,000 to be carried out through the issue of a maximum of 3,000,000 ordinary shares with a par value of \u20ac1.5 each with the same character-istics as the ordinary shares outstanding at the issue date, with voting rights, if the treasury shares were not sufficient. The aim of the plan is to encourage the loyalty of the beneficiaries, encouraging their stay in the Group, linking their remuneration to the implementation of the com-pany strategy in the medium to long term. The overall duration of the plan is about 8 years and in any case the deadline is set for 31 December 2027.The beneficiaries were identified by the Board of Directors based on the proposal of the Remu-neration and Appointments Committee or the Chief Executive Officer, after having consulted with the Board of Statutory Auditors. The options are granted free of charge: the beneficiaries, there-fore, will not be expected to pay any sort of consideration upon assignment. Conversely, exercise of the option and the resulting subscription of the shares will be subject to payment of the exer-cise price. Each option grants the right to subscribe one share at the conditions set out in the rel-ative regulations. The exercise price shall be equal to the arithmetic average of the official market price of the Company\u2019s shares recorded on the \u201cEuronext Milan\u201d managed by Borsa Italiana S.p.A. 180 calendar days prior to the date on which the 2020-2027 Plan and the relative regula-tions were approved by shareholders during the Annual General Meeting. This period of time is sufficient to limit the impact that any volatility caused by the coronavirus crisis could have on the stock price.The options may be exercised by the beneficiaries - on one or more occasions - solely and exclu-sively during the exercise period, namely during the following timeframes:\u2022 between 15 May 2023 and 31 December 2027 for up to a total maximum amount equal to 50% of the total options assigned each beneficiary, without prejudice to the black-out periods re-ferred to in Art. 12 of the Regulations;\u2022 between 15 May 2024 and 31 December 2027 for the remaining 50% of the total options as-signed each beneficiary, without prejudice to the black-out periods referred to in Art. 12 of the Regulations.Any option not exercised by the end of the exercise period will be automatically expire and the beneficiary will have no right to any compensation or indemnity.All shares will have regular dividend rights and, therefore, will be the same as all other shares outstanding at their issue date, and will be freely transferrable by the beneficiary.With some exceptions, however, the Plan provides for a holding period (which begins at the time the option is exercised) of 24 months for the options relative to the first exercise period and 12 months for the second exercise period, during which a portion of the shares acquired and/or subscribed by the beneficiary by exercising the option, is subject to restrictions on sales and/or transfers.Please refer to the Annual Report on the Remuneration Policy and Compensation Paid for more information on the Plan.For the purposes of valuation under IFRS 2 - Share-based payments, two different tranches were defined for each award that contain the same number of options broken down equally into the plan\u2019s two exercise periods. The fair value of each tranche is different. The fair value of the stock options at the assignment date is determined using the Black-Scholes model that takes into ac-count the conditions for the exercise of the right, the current share price, expected volatility, a risk-free interest rate, as well as the non-vesting conditions.Volatility is estimated based on the data of a market information provider and corresponds to the estimated volatility of the stock over the life of the plan.The fair value of the options assigned on the date of this Report and the assumptions made for its evaluation are as follows:Award (04.05.2020) Award (14.05.2020) Award (15.05.2020) Award (20.05.2020) Award (05.11.2020)First tranche fair value 4.4283 4.591 4.4598 4.4637 12.402Second tranche fair value 4.3798 4.536 4.4034 4.4049 12.0305Expected dividends (Euro) 2.8% 2.8% 2.8% 2.8% 2.8%Estimated volatility (%) 35.0% 34.0% 33.0% 32.0% 28.0%Historic volatility (%) 37.0% 37.0% 37.0% 37.0% 37.0%Market interest rate (0.2%) (0.2%) (0.2%) (0.2%) (0.2%)Expected life of the options (years) 7.7 7.7 7.7 7.7 7.7Exercise price (Euro) 16.982 16.982 16.982 16.982 16.982At 31 December 2023, 1,089,650 options had been assigned under the \u201c2020-2027 Stock Option Plan\"; during the year 2024 the amount dropped to 340,999 following the exercise of 748,651 op-tions, serviced for 595,000 by treasury shares and for the remaining 153,651 by newly issued shares.The \u201c2024-2026 Performance Share Plan\" was approved by shareholders of De\u2019 Longhi S.p.A. during the Annual General Meeting held on 19 April 2024.The Plan is reserved for the Chief Executive Officer and General Manager of the parent company De\u2019Longhi S.p.A., as well as a limited number of top managers of the Group identified by the Board of Directors, as proposed by the Remuneration and Appointments Committee, after having consulted with the Board of Statutory Auditors as deemed appropriate.The purpose of the plan is to incentivize the beneficiaries to maximize the Group\u2019s medium/long-term performance by creating a rewarding, equitable and sustainable remuneration system con-sistent with regulatory standards and the stakeholder\u2019s expectations.The Plan calls for the free assignment of up a maximum of 1,200,000 rights, each one of which entitles the beneficiary to 1 De\u2019 Longhi share for each right assigned, subject to the achievement of certain predetermined performance targets (measured at the end of the three-year vesting period 2024-2025-2026 and linked to the De\u2019 Longhi Group\u2019s medium/long-term growth in value and profitability), as well as based on conditions defined in the Plan.The Plan will be serviced using the Company\u2019s treasury shares or, if not sufficient, shares from a free capital increase, issued on one or more occasions, for a maximum nominal amount of \u20ac1,800,000.00 and for a maximum of 1,200,000 shares, as per the power granted specifically by the shareholders to the Board of Directors.The shares will be assigned after the Annual General Meeting held to approve the separate financial statements at 31 December 2026 and acknowledge the Group\u2019s 2026 Consolidated Annual Report.The Plan will be terminated in 2029, once the 24-month lock-up on 50% of the shares assigned has ended.For the purposes of valuation, in accordance with IFRS 2 - Share-based Payment, the unit fair value of the plan was calculated as the value of the right on the assignment date based on the Black-Scholes model which takes into account the option exercise conditions, the current value of the share, the estimated volatility, the risk-free interest rate and the non-vesting conditions.Volatility was estimated using information provided by a data provider and corresponds to the stock\u2019s estimated volatility over the life of the plan.The fair value of the options assigned and the underlying assumptions used in the valuation are provided below:First awardAverage fair value 27.68Expected dividends 2.45%Historic volatility (%) 34.63%Market interest rate 3.1%Expected life of the options (years) 3.15 Exercise price (Euro) -Based on the information available, an estimated 861,473 rights were outstanding at 31 Decem-ber 2024.28. Share capitalThe share capital at 31 December 2023 comprised 151,060,000 ordinary shares with a par value of \u20ac1.5 for a total of \u20ac226,590 thousand.During 2024 a total of 153,651 new shares were issued to service the options exercised under the \u201cStock Option Plan 2020-2027\u201d; at 31 December 2024, therefore, the share capital comprises 151,213,651 ordinary shares with a par value of \u20ac1.5 for a total of \u20ac226,820 thousand.29. ReservesThe details are as follows:31.12.2024 31.12.2023 ChangeShare premium reserve 46,800 40,078 6,722Legal reserve 45,318 45,318 -Other reserves:- Extraordinary reserve 136,974 201,413 (64,439)- Fair value and cash flow hedge 4,649 259 4,390reserve- Stock option reserve 7,781 5,695 2,086- Reserve for treasury shares - (9,658) 9,658- Currency translation reserve 97,078 40,867 56,211- Profit (loss) carried forward 1,200,584 1,010,200 190,384Total 1,539,184 1,334,172 205,012The \"Share premium reserve\" was set up following the public offering at the time of the parent company's listing on the Milan stock exchange on 23 July 2001 which subsequently reduced fol-lowing the demerger transaction in favour of DeLclima S.p.A.. At 31 December 2023, it amounted to \u20ac40,078 thousand after the exercise of options assigned pursuant to the 2016-2022 Stock Option Plan.During 2024 the reserve increased to \u20ac46,800 thousand as the result of the exercise of 748,651 options (of which 595,000 serviced by treasury shares) for a countervalue of \u20ac 6,722 thousand.The \u201cLegal Reserve\u201d amounted to \u20ac45,318 thousand and do not have changes from 31 December 2023.The Extraordinary Reserve decreased by \u20ac64,439 thousand explained by the allocation of profit for 2023 approved by shareholders during De\u2019 Longhi S.p.A.\u2019s AGM held on 19 April 2024.The \"Fair value and cash flow hedge reserve\" reports a balance of \u20ac4,649 thousand, net of \u20ac1,173 thousand in tax.The change in the \u201cFair value and cash flow hedge\u201d reserve in 2024, recognized in the statement of comprehensive income for the year, is attributable to the positive fair value of the cash flow hedge and available-for-sale securities of \u20ac5,408 thousand net of \u20ac1,018 thousand in tax.The \u201cStock Option Reserve\u201d refers to the share-based incentive plan \u201cStock Option Plan 2020-2027\u201d and the \u201cPerformance Share Plan 2024-2026\u201d already described in note 27. Share-based incentive plans.At 31 December 2024 the reserve amounts to \u20ac7,781 thousand, which corresponds to the fair value of the options at the assignment date, recognized on a straight-line basis from the grant date through vesting. The reserve for the \u201cStock Option Plan 2020-2027\u201damounted to \u20ac5,695 thousand at 31 December 2023 and \u20ac2,163 thousand at 31 December 2024; the difference is attributable to the allocation of the \u20ac366 thousand stemming from the fair value measurement of the existing options net exer-cises in the period.The reserve for the \u201cPerformance Share Plan 2024-2026\u201d, which amounted to \u20ac5,618 thousand at 31 December 2024, was allocated entirely during 2024 following the fair value measurement of the existing options.The \u201cTreasury Share Reserve\u201d (negative for \u20ac9,658 thousand at 31 December 2023) correspond-ed to the value of the 595,000 treasury shares purchased under the buyback program. During the year 2024 it was eliminated following exercise of options under the \u201cStock Option Plan 2020-2027\u201d.\"Profit (loss) carried forward\" includes the retained earnings of the consolidated companies and the effects of consolidation adjustments and adjustments to comply with Group accounting policies.Below is a reconciliation between the net equity and profit reported by the parent company, De\u2019 Longhi S.p.A., and the figures shown in the consolidated financial statements:Net equity Profit for Net equity Profit for 31.12.2024202431.12.20232023De' Longhi S.p.A. financial 743,692 269,655 557,569 36,578statementsShare of subsidiaries' equity and results for period attributable to the 703,451 66,337 834,186 218,905Group, after deducting carrying value of the investmentsAllocation of goodwill arising on consolidation and related amortiza-874,890 1,481 464,525 (444)tion and reversal of goodwill recognized for statutory purposesElimination of intercompany profits (57,920) (12,514) (45,425) (4,613)Other adjustments 280 (9) 284 (14)Consolidated financial statements 2,264,393 324,950 1,811,139 250,412Minority 187,652 14,213 - 35Consolidated financial statements-2,076,741 310,737 1,811,139 250,377Group portion30. Minorities\u2019 portion of net equityThis item refers to the portion of net equity in a few Group companies not attributable, directly or indirectly, to the De\u2019Longhi Group.More in detail, minority interests emerged as a result of the La Marzocco/Eversys business combination.In the wake of the transaction finalized on 27 February 2024, the Group controls approximately 61.6% of the new entity, while the minority interests are held by De Longhi Industrial S.A. (roughly 26.5%) and the previous minority shareholders of La Marzocco (for a total of 12%).31. Earning per shareEarnings per share are calculated by dividing the earnings for the year by the weighted average number of the Company\u2019s shares outstanding during the period.31.12.2024Weighted average number of shares outstanding 150,953,561Weighted average number of diluted shares outstanding 151,554,650The dilutive impact was not significant at 31 December 2024, therefore the difference between the diluted earnings per share (\u20ac2.05) and the basic earnings per share (\u20ac2.06) is not material.32. Bank loans and borrowings\"Bank loans and borrowings\" are analyzed as follows:Payable within one Payable in 1-5 Payable in more Balance Payable within one Payable in 1-5 Balance yearyearsthan 5 years31.12.2024yearyears31.12.2023Overdrafts 11,269 - 11,269 16,394 - 16,394 Current bank loans and borrowings - - - - - -Long- term loans (short term portion) 82,977 - 82,977 179,611 - 179,611 Bank loans and borrowings (short\u2010term 94,246 - - 94,246 196,005 - 196,005 portion)Long- term loans - 227,836 152 227,988 - 300,844 300,844 Total banks loans and borrowings 94,246 227,836 152 322,234 196,005 300,844 496,849 During 2024, new loans were taken out by foreign subsidiaries for the total amount of \u20ac569 thousand.With regard to the loans taken out by the Parent Company (as described in the Annual Financial Reports related to previous years), none of the financial covenants included in the loan agree-ments, based on net debt/equity and net debt/ EBITDA had been breached at 31 December 2024.Most of the bank debt is floating rate; as a result of the hedge on part of some of the medium/long-term loans, the floating rate debt was swapped for fixed rate debt. The fair value of the loans, calculated by discounting future interest flows at current market rates, does not differ significant-ly from the amount of debt recognized in the financial statements.33. Other financial payablesThis balance, inclusive of the current portion, is made up as follows:31.12.2024 31.12.2023Private placement (short\u2010term portion) 21,408 21,397 Negative fair value of derivatives 9,523 13,170 Other short term financial payables 44,686 37,44 5 Total short\u2010term payables 75,617 72,012 Private placement (one to five years) 42,832 64,259 Negative fair value of derivatives - -Other financial payables (one to five years) 389 -Total long\u2010term payables (one to five years) 43,221 64,259 Private placement (beyond five years) 150,360 150,358 Total long\u2010term payables (beyond five years) 150,360 150,358 Total other financial payables 269,198 286,629 The bond loan refers to the issue and placement of \u20ac150 million in unsecured, non-convertible notes with US institutional investors (the \u201cUS Private Placement\u201d) completed in 2017 and an addi-tional \u20ac150 million placed in 2021. In both instances the securities were issued in a single tranche. The first issue matures in 10 years, in June 2027, and has an average life of 7 years. The notes will accrue interest from the subscription date at a fixed rate of 1.65% per annum. The notes are repaid yearly in equal instalments beginning June 2021 and ending June 2027, without prejudice to the Company\u2019s ability to repay the entire amount in advance. The second issue matures in 20 years, in April 2041, and has an average life of 15 years. The notes will accrue interest from the subscription date at a fixed rate of 1.18% per annum. The notes are repaid yearly in equal instalments beginning April 2031 and ending April 2041, without preju-dice to the Company\u2019s ability to repay the entire amount in advance. Both issues are unrated and are not intended to be listed on any regulated markets. The issues are subject to half-yearly financial covenants consistent with those applied to other loans. At 31 December 2024 the covenants had not been breached. Neither issue is secured by collateral of any kind. \u201cNegative fair value of derivatives\u201d refers to hedges on interest rates and currencies, foreign cur-rency receivables and payables, as well as on future revenue streams (anticipatory hedges). \u201cOther short term financial payables\u201d refers mainly to factoring without recours related payables.Net financial positionDetails of the net financial position are as follows:31.12.2024 31.12.2023A. Cash 1,019,711 1,250,198 B. Cash equivalents - -C. Other current financial assets 178,248 159,965 of which lease prepayments 428 220 D. Cash, cash equivalents and other current financial 1,197,959 1,410,163 assets (A + B + C)E. Current financial liabilities (103,572) (96,241)of which lease liabilities (26,209) (21,005)F. Current portion of non\u2010current financial liabilities (82,977) (179,611)G. Current financial liabilities (E + F) (186,549) (275,852)H. Current net financial liabilities (D + G) 1,011,410 1,134,311 I.1. Other non-current financial assets 130,520 122,031 I. Non-current financial liabilities (312,190) (378,462)of which lease liabilities (84,202) (77,618)J. Debt instruments (193,581) (214,617)K. Trade payables and other non-current liabilities - -L. Non-current net financial liabilities (I + I.1+ J + K) (375,251) (471,048)M. Total financial liabilities (H + L) 636,159 663,263 Fair value of derivatives and other financial non-bank assets/7,076 (663)liabilities Total net financial position 643,235 662,600 Details of the net financial position are shown in accordance with ESMA Bulletin 32-382-1138, published on 4 March 2021, in implementation of EC Regulation 2017/1129.In order to provide a better representation, \"Other non-current financial assets\" are indicated separately in letter I.1; for further information, see note 18.For a better understanding of changes in the Group's net financial position, reference should be made to the full consolidated statement of cash flows, appended to these explanatory notes, and the condensed statement presented in the report on operations.For more information on the fair value measurement of derivatives refer to note 42. Risk management.The breakdown of related party financial receivables and payables is shown in Appendix n.3.34. Employee benefitsThese are made up as follows:31.12.2024 31.12.2023Provision for severance indemnities 12,170 7,988 Defined benefit plans 22,671 21,659 Other long term benefits 28,356 21,394 Total 63,197 51,041 The provision for severance indemnities includes amounts payable to employees of the Group's Italian companies and not transferred to supplementary pension schemes or the pension fund set up by INPS (Italy's national social security agency). This provision has been classified as a defined benefit plan, governed as such by IAS 19 \u2010 Employee benefits. Some of the Group's foreign companies provide defined benefit plans for their employees. Some of these plans have assets servicing them, but severance indemnities, as an unfunded ob-ligation, do not.These plans are valued on an actuarial basis to express the present value of the benefit payable at the end of service that employees have accrued at the reporting date.The amounts of the obligations and assets to which they refer are set out below:Provision for severance indemnities:Movements in the year are summarized below:Net cost charged to income 2024 2023 ChangeCurrent service cost 927 378 549Interest cost on defined benefit obligation 385 66 319Total 1,312 444 868Change in present value of obligations 31.12 .2024 31.12.2023 ChangePresent value at 1 January 7,988 8,040 (52)Current service cost 927 378 549Utilization of provision (1,296) (643) (653)Interest cost on obligation 385 66 319Changes in consolidation area 4,188 - 4,188Translation differences 2 - 2Actuarial gains & losses recognized in the (24) 147 (171)comprehensive income statementPresent value at reporting date 12,170 7,988 4,182Defined benefit plans:Movements in the year are as follows:Net cost charged to income 2024 2023 ChangeCurrent service cost 2,618 1,435 1,183Return on plan assets (253) (285) 32Interest cost on obligation 842 766 76Total 3,207 1,916 1,291Change in present value of obligations 31.12 .2024 31.12.2023 ChangePresent value at 1 January 21,659 17,768 3,891Net cost charged to income 3,207 1,916 1,291Benefits paid and other movements (3,366) (1,501) (1,865)Changes in consolidation area 496 - 496Translation differences (10) (178) 168Actuarial gains & losses recognized in the 685 3,654 (2,969)comprehensive income statementPresent value at reporting date 22,671 21,659 1,012The outstanding liability at 31 December 2024 of \u20ac22,671 thousand (\u20ac21,659 thousand at 31 De-cember 2023) refers to a few subsidiaries (mainly in Germany, Japan and Swiss).The assumptions used for determining the obligations under the plans described are as follows:Severance Severance Other plans Other plans Assumptions usedindemnity indemnity 2024202320242023Discount rate 3.2%-3.35% 3.20% 1.5%-3.5% 1.25%-3.6%Future salary increases 2.5%-3.0% 2.0%-3.0% 0.0%-3% 0.0%-3%Inflation rate 2.00% 2.00% 1.25%-2% 0.0% - 2.1%\u201cOther long-term benefits\u201d includes the incentive plans (Phantom Stock Plan) for personnel of newly acquired companies and the amount accrued in the reporting period for further incentive plans. These plans were approved by the Board of Directors for a limited number of the Group\u2019s key resources.For more information, please refer to Annual Report on Remuneration and Compensation Paid.35. Other provisions for non-current contingencies and chargesThese are analyzed as follows:31.12.2024 31.12.2023Agents\u2019 leaving indemnity provision 2,448 2,121Product warranty provision 47,491 43,512Provision for contingencies and other charges 25,060 26,244Total 74,999 71,877Movements are as follows:Translation Changes in Net difference 31.12.202431.12.2023 Utilizationconsolida-accrualand other tion areamovementsAgents\u2019 leaving indemnity 2,121 (19) 346 2,448provisionProduct warranty 43,512 (21,509) 24,420 708 360 47,491provisionProvision for contingencies 26,244 (2,959) 282 1,175 318 25,060and other charges Total 71,877 (24,487) 25,048 1,883 678 74,999The agents\u2019 leaving indemnity provision covers the payments that might be due to departing agents in accordance with art. 1751 of the Italian Civil Code, as applied by collective compensa-tion agreements in force.The product warranty provision has been established for certain consolidated companies, on the basis of estimated under\u2010warranty repair and replacement costs for sales taking place by 31 De-cember 2024. It takes account of the provisions of Decree 24/2002 and of European Community law.The \"Provision for contingencies and other charges\" includes the provision of \u20ac15,784 thousand (\u20ac15,965 thousand at 31 December 2023) for legal disputes and product complaint liabilities (lim-ited to the Group\u2019s insurance deductible), the provision of \u20ac9,276 thousand (\u20ac10,278 thousand at 31 December 2023) for the provisions made by a few subsidiaries relating to commercial risks and other charges.In the Annual Financial Report at 31 December 2023 it was declared that the French Competition Authority (the \u201cFCA\u201d) notified a few Group companies of a complaint filed by the French company (and other French sector companies, mentioned in the complaint) which refers to certain acts that occurred between 2009 and 2014 which were allegedly in violation of rules governing an-ti-competitive conduct.More specifically, the complaint alleges that the Group entered into horizontal agreements which consisted in the exchange between competitors of privileged information relating to small appli-ances in France in the period referred to above.On 19 December 2024 the Group announced that the French Competition Authority (the \u201cFCA\u201d) had completed an assessment of the alleged behaviors and concluded that De\u2019Longhi had not violated anti-competitive regulations referred to in Law 420-1 of the French commercial code and 101, paragraph 1, TFUE and, consequently, was not subject to any sanctions.36. Trade payablesThe balance represents the amount owed by the Group to third parties for the provision of goods and services. The item does not include amounts due beyond 12 months.The De\u2019Longhi Group offered select suppliers the possibility of participating in a few Supply Chain Finance (SCF) programs. These programs help suppliers optimize financial management, reduce risk and support the growth of the commercial relationship. In these programs the bank acts as the agent. De\u2019Longhi does not issue any guarantees in favor of the counterparty. The payment terms included in the commercial agreements between the Group and its suppliers are independ-ent of the ability of the latter to participate in the SCF programs and obtain payment of their in-voices before the due date, for a discounted amount agreed upon independently with the bank. The rate reflects the time value of money between the date of the discount and the due date of the invoices. The De\u2019Longhi Group must pay its trade payables on the due date established at the time of invoicing.As at 31 December 2024 the trade payables for which the vendors have already received the set-tlement represent an amount of around 25% of the total.37. Current tax liabilities\u201cCurrent tax liabilities\u201d refers to the Group\u2019s direct tax and, with respect to the Italian subsidiaries who adhered to the Domestic Tax Consolidation regime, the net amount owed the parent compa-ny De Longhi Industrial S.A..The Parent Company De\u2019 Longhi S.p.A. and a few of the Italian subsidiaries renewed, jointly with the consolidator De Longhi Industrial S.A., the option to adhere to group taxation, referred to as \u201cDomestic Tax Consolidation\u201d, as permitted under articles 117-129 of the Consolidated Income Tax Act (TUIR) as per Presidential Decree n. 917 of 22 December 1986 and Decree of the Ministry and Finance of 1 March 2018, for the three-year period 2022 - 2024.For additional information please refer to Appendix.3. 38. Other payablesThese are analyzed as follows: 31.12.2024 31.12.2023Employees 74,174 58,644Indirect taxes 34,512 40,192Social security institutions 9,989 9,179Withholdings payables 9,076 7,906Advances 14,325 7,515Other taxes 5,048 697Other 22,852 13,164Total 169,976 137,297At 31 December 2024 the item does not include significant amounts due beyond 12 months.39. CommitmentsThese are detailed as follows:31.12.2024 31.12.2023Guarantees given to third parties 681 652Other commitments 4,411 3,836Total 5,092 4,487\"Other commitments\" mainly consist of contractual obligations pertaining to the subsidiaries.40. Ifrs 7 classification of financial assets and liabilitiesFinancial assets and liabilities are classified below in accordance with IFRS 7 using the catego-ries identified in IFRS 9.Assetsat 31 December 2024 TotalAmortized cost Fair value in Profit&Loss Fair value in OCINon-current assets (*)Equity investments 53 - 53 -Receivables 5,721 5,721 - -Other non\u2010current financial assets 131,254 131,254 - -Current assets (**)Trade receivables 336,145 336,145 - -Current tax assets 11,341 11,341 - -Other receivables 52,659 52,659 - -Current financial receivables and assets 193,685 107,770 75,224 10,691Cash and cash equivalents 1,019,711 1,019,711 - -Liabilitiesat 31 December 2024 TotalAmortized cost Fair value in Profit&Loss Fair value in OCINon\u2010current liabilities (***)Bank loans and borrowings (long\u2010term portion) 227,988 227,988 - -Other financial payables (long\u2010term portion) 193,581 193,581 - -Current liabilities (****)Trade payables 873,139 873,139 - -Bank loans and borrowings (short\u2010term 94,246 94,246 - -portion)Other financial payables (short\u2010term portion) 75,617 66,094 3,373 6,150Current tax liabilities 75,821 75,821 - -Other payables 169,976 169,976 - -(*) Interests in subsidiaries. associates and joint ventures are not included (IFRS 9 - 2.1 a).(**) Advances for leasing contracts are not included (IFRS 9 - 2.1 b).(***) Lease liabilities under IFRS 16 (IFRS 9.-2.1b) are not included.(****) Lease liabilities to which IFRS 16 Leases is applied (IFRS 9 - 2.1 b) are not included.The value of financial assets/liabilities at amortized cost does not differ significantly from their fair value.Assetsat 31 December 2023 TotalAmortized cost Fair value in Profit&Loss Fair value in OCINon-current assets (*)Equity investments 51 - 51 -Receivables 5,400 5,400 - -Other non\u2010current financial assets 122,031 122,031 - -Current assets (**)Trade receivables 272,692 272,692 - -Current tax assets 20,244 20,244 - -Other receivables 43,695 43,695 - -Current financial receivables and assets 172,252 91,582 76,066 4,604Cash and cash equivalents 1,250,198 1,250,198 - -Liabilitiesat 31 December 2023 TotalAmortized cost Fair value in Profit&Loss Fair value in OCINon\u2010current liabilities (***)Bank loans and borrowings (long\u2010term portion) 300,844 300,844 - -Other financial payables (long\u2010term portion) 214,617 214,617 - -Current liabilities (****)Trade payables 716,238 716,238 - -Bank loans and borrowings (short\u2010term 196,005 196,005 - -portion)Other financial payables (short\u2010term portion) 72,012 58,842 9,544 3,626Current tax liabilities 70,571 70,571 - -Other payables 137,297 137,297 - -(*) Interests in subsidiaries. associates and joint ventures are not included (IFRS 9 - 2.1 a).(**) Advances for leasing contracts are not included (IFRS 9 - 2.1 b).(***) Lease liabilities under IFRS 16 (IFRS 9.-2.1b) are not included.(****) Lease liabilities to which IFRS 16 Leases is applied (IFRS 9 - 2.1 b) are not included.The value of financial assets/liabilities at amortized cost does not differ significantly from their fair value.41. Hierarchical levels of financial instruments measured at fair valueThe following table presents the hierarchical levels in which the fair value measurements of finan-cial instruments have been classified at 31 December 2024. As required by IFRS 13, the hierarchy comprises the following levels:\u2022 level 1: quoted prices in active markets for identical assets or liabilities;\u2022 level 2: inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly;\u2022 level 3: inputs for the asset or liability that are not based on observable market data.Financial instruments measured at fair value Level 1 Level 2 Level 3Derivatives with positive fair value - 15,400 - Derivatives with negative fair value - (9,523) - Other current financial assets and investment 53 70,515 - measured at fair valueThere were no transfers between the levels during the 2024.42. Risk managementThe Group is exposed to the following financial risks as part of its normal business activity:\u2022 credit risk, arising from commercial activities and from the investment of surplus cash;\u2022 liquidity risk, arising from the need to have adequate access to capital markets and sources of finance to fund its operations, investment activities and the settlement of financial liabilities;\u2022 exchange rate risk, associated with the significant amount of purchases and sales in curren-cies other than the Group's functional currency;\u2022 interest rate risk, relating to the cost of the Group's debt.Credit riskCredit risk consists of the Group's exposure to potential losses arising from failure by a counter-party to fulfill its obligations.Trade credit risk is associated with the normal conduct of trade and is monitored using formal procedures for selecting and assessing customers, for defining credit limits, for monitoring ex-pected receipts and for their recovery if necessary.Credit risk is mitigated by insurance policies with major insurers, with the aim of insuring against the risk of default by punctually performing a selection of a portfolio of customers together with the insurer, who then undertakes to pay an indemnity in the event of default.Although there is a certain concentration of risk associated with the size of some of the principal buying groups, this is counterbalanced by the fact that the exposure is spread across counterpar-ties operating in different geographical areas.Positions are written down when there is objective evidence that they will be partially or entirely uncollected; such writedowns are based on past data and information about the counterparty's solvency, taking account of insurance and any other guarantees as described above.The Group's maximum exposure to credit risk is equal to the book value of trade receivables before the allowance for doubtful accounts, and amounts to \u20ac344,494 thousand at 31 December 2024 and \u20ac283,483 thousand at 31 December 2023.This amount corresponds to the gross balance of trade receivables of \u20ac403,769 thousand at 31 December 2024 (\u20ac348,374 thousand at 31 December 2023), net of deductions and accounting offsets, which reduce the overall credit risk, mainly in the form of credit notes and other docu-ments not yet issued to customers.The following analysis of credit risk, carried out on the basis of receivables ageing and the reports used for credit management, refers to the trade balances before these deductions because the documents still to be issued cannot be specifically allocated to the ageing categories.Trade receivables of \u20ac403,769 thousand at 31 December 2024 comprise \u20ac396,227 thousand in current balances and \u20ac7,541 thousand in past due amounts, of which \u20ac9,527 thousand past due within 90 days and a negative balance of \u20ac1,986 thousand past due by more than 90 days related to still open commercial deductions.The amount of insured or guaranteed receivables at 31 December 2024 is \u20ac287,537 thousand.The Group has recognized \u20ac8,349 thousand in allowances for doubtful accounts against unguar-anteed receivables of \u20ac116,231 thousand.Trade receivables of \u20ac348,374 thousand at 31 December 2023 comprise \u20ac306,507 thousand in current balances and \u20ac41,867 thousand in past due amounts, of which \u20ac38,381 thousand past due within 90 days and \u20ac3,846 thousand past due by more than 90 days.The amount of insured or guaranteed receivables at 31 December 2023 is \u20ac249,284 thousand.The Group has recognized \u20ac10,791 thousand in allowances for doubtful accounts against un-guaranteed receivables of \u20ac99,090 thousand.As far as financial risk is concerned, it is the Group's policy to maintain a sufficiently large portfo-lio of counterparties of high international repute for the purposes of temporary investment of surplus resources or for the negotiation of derivatives.The maximum credit risk in the event of counterparty default relating to the Group's other finan-cial assets, whose classification is presented in note 40. IFRS 7 classification of financial assets and liabilities, is equal to the book value of these assets.Liquidity riskLiquidity risk is the risk of not having the fund needed to fulfil payment obligations arising from operating and investment activities and from the maturity of financial instruments.The Group uses specific policies and procedures for the purposes of monitoring and managing this risk, including:\u2022 centralized management of financial payables and cash, supported by reporting and informa-tion systems and, where possible, cash pooling arrangements;\u2022 raising of medium and long\u2010term finance on capital markets;\u2022 diversification of the type of financing instruments used;\u2022 obtaining of short\u2010term credit lines so as to ensure wide room for manoeuvre for the purposes of managing working capital and cash flows;\u2022 monitoring of current and forecast financing needs and distribution within the Group.The Group has both medium\u2010term bank credit lines (related to the loans disclosed in this Finan-cial Statements) and short\u2010term credit lines (typically renewed on an annual basis), for financing working capital and other operating needs (issue of guarantees, currency transactions etc.).These credit lines, along with the significant present funds and the cash flow generated by opera-tions, are considered sufficient to satisfy the Group\u2019s annual funding requirements for working capital, investments and settlement of payables on their natural due dates.Note 40. IFRS 7 classification of financial assets and liabilities presents the book value of financial assets and liabilities, in accordance with the categories identified by IFRS 9.The following table summarizes the due dates of the Group\u2019s financial liabilities at 31 December 2024 and 31 December 2023 on the basis of contractual payments which have not been discounted.Undiscounted Undiscounted Payable within one Payable in 1-5 Payable in more Payable within one Payable in 1-5 Payable in more cash flows at cash flows at yearyearsthan five years yearyearsthan five years 31.12.202431.12.2023Bank loans and borrowings (*) 336,693 102,041 234,499 152 533,142 212,458 320,684 -Other financial payables (**) 290,828 78,291 51,032 161,505 311,281 75,049 72,957 163,275Trade payables 873,139 873,139 - - 716,238 716,238 - -Current tax payables and other 245,797 245,795 1 - 207,868 207,860 9 -payables(*) The corresponding balance reported in the financial statements was \u20ac322,234 thousand at 31 December 2024 vs. \u20ac496,849 thousand at 31 December 2023 and refers to medium/long and short term bank debt.(**) The corresponding balance in the accounts is \u20ac269,198 at 31 December 2024 and \u20ac286,629 at 31 December 2023 and refers to long-term payables comprehensive of their short-term portion of the private placement.With regard to lease liabilities in accordance with IFRS 16, please refer to Note 15. Leases.Exchange rate riskIn carrying on its business, the Group is exposed to the risk of fluctuations in currencies (other than its functional one) in which ordinary trade and financial transactions are denominated. For the purposes of protecting its income statement and statement of financial position from such fluctuations, the Group adopts a suitable hedging policy that eschews speculative ends.Hedging policiesHedging is carried out centrally by a special team on the basis of information obtained from a detailed reporting system, using instruments and policies that comply with international account-ing standards. The purpose of hedging is to protect \u2010 at individual company level \u2010 the future reve-nues/costs contained in budgets and/or long\u2010term plans, trade and financial receivables/paya-bles and net investments in foreign operations. Purpose of hedging Hedging is carried out with three goals:a) to hedge cash flows of budgeted or planned amounts up until the time of invoicing, with a time horizon that doesn\u2019t go beyond 24 months;b) to hedge the monetary amounts of receivables and payables originating from invoicing and financing transactions.The principal currencies to which the Group is exposed are:\u2022 the US dollar (mainly the EUR/USD and GBP/USD), being the currency in which a significant part of the cost of raw materials, parts and finished products as well as sales flows relative to the American market and MEIA are expressed;\u2022 the Japanese yen (JPY/HKD), for sales on the Japanese market;\u2022 the Australian dollar (AUD/HKD) for sales on the Australian market;\u2022 the Czech koruna and the Polish Zloty, for sales on the East Europe market;\u2022 the British Pound (EUR/GBP), for sales on the UK market;\u2022 the Renminbi (CNY/HKD) for the cost of raw materials, parts and finished products.Instruments usedHighly liquid instruments of a non\u2010speculative nature are used, mostly forward purchase/sale agreements.The transactions are entered into with primary, well known counterparties of international stand-ing and using methods which allow for best practice execution for each transaction.Operating structure Hedging activity is centralized (except for isolated, negligible cases) under De' Longhi Capital Ser-vices S.r.l., a Group company, which intervenes on the markets on the basis of information re-ceived from the individual operating companies. The terms and conditions thus negotiated are passed down in full to Group companies so that De\u2019 Longhi Capital Services S.r.l. does not directly carry derivatives for risks that are not its own. Sensitivity analysisWhen assessing the potential impact, in terms of change in fair value, of a hypothetical, sudden +/\u20105% change in year\u2010end exchange rates, it is necessary to distinguish between the risk associat-ed with expected future revenues/costs and the risk associated with foreign currency assets and liabilities at 31 December 2024:a) with regard to the risk connected to future flows (revenues/costs forecast in the budget and/or multi-year plans), at 31 December 2024 the fair value of the relative hedges were recog-nized in net equity in accordance with IAS standards as described in the section Accounting standards - Financial instruments found in these Explanatory Notes; a change of +/- 5% in the year-end exchange rates of the exposed currency is estimated to produce a change of +/ - \u20ac1.3 million before tax (+/- \u20ac2.1 million before tax at 31 December 2023). This figure would impact the income statement solely in the year in which the hedged revenues/costs materialize;b) as for the risk associated with foreign currency assets and liabilities, the analysis considers only unhedged receivables/payables in currencies other than the functional currency of the individual companies, since the impact of any hedges is assumed to be equal and opposite to that of the hedged items. A +/\u2010 5% change in year\u2010end exchange rates of the principal ex-posed currencies (mainly the USD and the Renminbi) against the principal functional curren-cies would produce a change in fair value of around +/\u2010 \u20ac1.3 million before tax (+/\u2010 \u20ac1.2 million before tax at 31 December 2023).The hedging transactions at 31 December 2024 are described in the paragraph \u201cInterest rate and currency exchange hedges at 31 December 2024\u201d.Interest rate riskThe Group is exposed to interest rate risk on floating rate loans and borrowings. This risk is man-aged centrally by the same team that manages currency risks.The bonds are fixed rate, while the remainder of the Group\u2019s financial debt at 31 December 2024 was floating rate.The purpose of interest rate risk management is to fix in advance the maximum cost (in terms of the interbank rate, which represents the benchmark for these borrowings) for a part of the finan-cial debt.Sensitivity analysis When estimating the potential impact of a hypothetical, sudden material change in interest rates (+/- 1% in market rates) on the cost of the Group's debt, only those items forming part of net finan-cial position which earn/incur interest at floating rates have been considered and not any others (meaning total net assets of \u20ac727.0 million on a total of \u20ac643.2 million in net debt at 31 December 2024 and total net assets of \u20ac636.4 million on a total of \u20ac662.6 million in net debt in 2023). It is estimated that a +/\u2010 1% change in interest rates would have an impact of +/- \u20ac7,3 million before tax at 31 December 2024 recognized entirely in the income statement (+/- \u20ac6,4 million before tax at 31 December 2023).Interest rate and currency exchange hedges at 31 December 2024At 31 December 2024 the Group has a number of derivatives, hedging both the fair value of un-derlying instruments and exposure to changes in cash flow.For accounting purposes, derivatives that hedge expected future cash flow are treated in accord-ance with hedge accounting as called for in IFRS 9. Derivatives that hedge foreign currency payables and receivables are reported with changes in their fair value reported in the income statement. These instruments offset the risk on the hedged item (which is a recognized asset or liability).The fair value of the outstanding derivatives at 31 December 2024 is provided below: Fair Value at 31/12/2024FX forward agreements 1,335Derivatives hedging foreign currency receivables/payables 1,335FX forward agreements 4,547Interest forward agreements (5)Derivatives covering expected cash flows 4,542Total fair value of the derivatives 5,877Forward agreements to hedge against a change in trade flows:A list of the forward agreements hedging a change in 2025 trade flows at 31 December 2024:Notional amount (in thousands) Fair value (\u20ac/000)CurrencyCurrent Current Purchases Sales TotalassetsLiabilitiesEUR/CHF* - 23,300 23,300 97 (241)EUR*/RON - 72,000 72,000 276 (263)EUR/USD* (110) 20,110 20,000 7 (281)EUR/AUD* - 11,000 11,000 199 -EUR/CNY* - 65,600 65,600 - (100)EUR/THB* - 71,700 71,700 - (25)EUR/NZD* - 1,080 1,080 20 -EUR/PLN* - 65,000 65,000 - (96)EUR/GBP* - 16,000 16,000 3 (180)USD/CAD* - 28,000 28,000 1,306 -HKD/CNY* (1,030,000) - (1,030,000) - (4,959)AUD*/HKD - 69,000 69,000 3,994 -HKD/JPY* - 4,350,000 4,350,000 3,017 -HKD/KRW* - 12,000,000 12,000,000 762 -USD*/GBP (31,800) - (31,800) 1,011 -10,692 (6,145)* Risk currencyThe cash flow hedge reserve recognized for these hedges was positive for \u20ac4,645 thousand at 31 December 2024, after tax of \u20ac1,172 thousand (at 31 December 2023 this same reserve was nega-tive for \u20ac956 thousand, after tax of \u20ac229 thousand).During 2024 the Group reversed to the income statement a net amount of \u20ac956 thousand from the negative cash flow hedge reserve at 31 December 2023.This amount was reported in the following lines of the income statement:2024 2023Increase (reduction) in revenues (1,473) (1,267)(Increase) reduction in materials consumed 268 (1,229)Net financial income (expenses) 20 -Taxes 229 315Total recognized in income statement (956) (2,181)Hedges against foreign currency receivables and payables:Notional amount (in thousands) Fair value (in \u20ac/000)CurrencyCurrent Current Purchases Sales TotalassetsLiabilitiesAUD*/HKD (38,400) 63,890 25,490 1,026 (518)AUD/NZD* - 8,230 8,230 15 -EUR*/CHF (150) - (150) 1 -EUR/AUD* (350) 3,100 2,750 29 -EUR/CHF* (37,070) 19,860 (17,210) 127 (251)EUR/CZK* (250,000) 409,390 159,390 64 (8)EUR/GBP* (43,890) 15,130 (28,760) 56 (29)EUR*/GBP - 3,230 3,230 2 -EUR/HKD* (2,850) 900 (1,950) 4 (1)EUR*/HKD (6,200) - (6,200) - (73)EUR/HUF* (1,665,000) 2,335,000 670,000 28 (21)EUR/JPY* (10,000) 15,700 5,700 1 -EUR/MXN* (43,800) - (43,800) - (31)EUR/PLN* (352,970) 213,820 (139,150) 63 (69)EUR/RON* (116,800) 3,500 (113,300) 30 (2)EUR*/RON (38,080) 6,500 31,580 56 (51)EUR/RUB* - 1,588,000 1,588,000 - (685)EUR/SEK* (95,890) 81,300 (14,590) 6 (9)EUR/USD* (739,500) 118,860 (620,640) 1,372 (409)EUR*/USD (280,000) - (280,000) - (585)GBP*/CHF (1,720) - (1,720) 13 -GBP/USD* (7,970) 10,300 2,330 76 (124)HKD/CNH* (563,880) - (563,880) - (280)HKD/JPY* - 3,140,540 3,140,540 420 -HKD/KRW* (2,000,000) 7,850,000 5,850,000 155 (25)HKD/MXN* - 125,655 125,655 144 -USD/MXN* - 169,110 169,110 184 -SGD*/HKD (10,631) - (10,631) - (87)USD/CAD* (6,000) 35,430 29,430 245 (6)USD*/CHF - 6,130 6,130 - (93)CHF*/RON (725) - (725) - (3)USD*/RON (16,040) - (16,040) 119 -USD/ZAR* (18,000) 169,450 151,450 473 (14)4,709 (3,374)* Risk currencyIRS (Interest Rate Swap) hedging interest rate risk on loans:Derivatives are evaluated at fair value; at 31 December 2024 the fair value of the derivatives, which also takes into account counterparty risk in accordance with IFRS 13 - Fair Value measure-ment, came to a negative \u20ac5 thousand which is recognized under other financial payables.Details are as follows (the figures are shown before tax):31/12/2024Notional amount Fair value (in \u20ac/000)(in \u20ac/000)Interest Rate Swap (IRS) connected to the loan 3,125 (5)Total fair value of the derivatives (5)of which:negative short-term fair value (5)During 2024 the Group reversed to the income statement a net amount of \u20ac1,215 thousand from the positive cash flow hedge reserve at 31 December 2023.43. Tax positionThe following positions emerged during the periodic audits carried out by the tax authorities.De\u2019 Longhi Appliances S.r.l.In 2023 a target audit was carried out relating to intercompany transactions, for the tax years 2017 to 2021 and the tax credit matured for investments made in research and development pursuant to Law 190/2014, relative to the tax years 2015 to 2019. The target audit was carried out by the Veneto Regional Office of the Revenue Service and the report of the findings was delivered on 27 June 2023.Between 23 November 2023 and 5 December 2023, the company received requests for appear-ances, issued relative to IRES and IRAP for 2017, 2018 and 2019, which were followed by meet-ings with the Veneto Regional Office of the Revenue Service and, on 21 March 2024, notice of the findings was received. On 20 May 2024 the Company filed its appeal and request to void the findings relative to 2017, 2018 and 2019 with the first-degree tax court of Venice and, subsequently, the Revenue Service filed its opposing statement.In December 2024, the company was notified of investigations relating to 2020 IRES and IRAP and on 7 and 13 February 2025 these were appealed and requests to void any findings were submitted. When preparing the 2024 consolidated annual report, the Group, together with its tax consult-ants, assessed the risk that the investigation would move forward, taking into account the argu-ments that could be made to support its conduct and any charges coming from recourse actions.44. Transactions and balances with related partiesAppendix 3 contains the information concerning transactions and balances with related parties required by CONSOB Circulars 97001574 dated 20 February 1997, 98015375 dated 27 February 1998 and DEM/2064231 dated 30 September 2002 relating to related party transactions; all transactions fell within the Group\u2019s normal scope of operations and were settled under arm\u2019s-length terms and conditions.Transactions and balances between the parent company and subsidiaries are not reported since these have been eliminated upon consolidation.45. Operating segmentsAs a result of the Eversys/La Marzocco business combination, the Group\u2019s organizational struc-ture and governance were changed due to the identification of two new operating segments which qualify as such under IFRS 8. These are the Household and Professional divisions, each of which generate revenues and costs (including the revenues and costs relating to transactions with other Group entitites) and their operating results are examined periodically by top manage-ment. The Group\u2019s activities have been divided between the two divisions based on relevancy.Information relating to operating segments is presented below:Income Statement dataIntersegment 2024HOUSEHOLD PROFESSIONALeliminations Total(**)Total revenues (*) 3,166,128 334,730 (3,303) 3,497,555EBITDA before non-re-curring/stock option 487,603 72,155 (1) 559,757costs (***)EBIT 430,801Profit (loss) before taxes 429,374Taxes (104,424)Profit (loss) for the year 324,950Profit (loss) pertaining to 14,213minorityProfit (loss) pertaining 310,737to GroupData from statement of financial positionIntersegment 31 December 2024HOUSEHOLD PROFESSIONALTotaleliminations (**)Total assets 3,382,823 980,299 (26,996) 4,336,126Total liabilities (1,899,528) (199,201) 26,996 (2,071,733)(*) The revenues for each segment include revenues generated by both third parties and other Group operating segments.(**) Eliminations refer to intersegment transactions generated and eliminated on a consolidated basis.(***) The \u2018EBITDA before non-recurring/stock option costs\u2019 is calcultated excluding non recurring items and cost of the stock option plans, consistently with values presented in the report on operations, to which refer for further information.As stated in paragraphs 29 and 30 of IFRS 8, if it is not possible to provide comparison figures based on the newly defined segments, the segment information for the current year and 2023, based on the former configuration of the segments, which called for a breakdown of activities based on geographic location, should also be reported.In this configuration each segment has transversal competencies relative to all the Group\u2019s brands and serves different markets; the revenues and margins for each operating segment (by geographic area of activity), therefore, do not coincide with the revenues and margins of the rela-tive markets (by geographic destination) as a few Group companies make sales outside their ge-ographic areas and intercompany transactions do not have a destination market.The information by operating segment defined based on geographic location of the activities is provided below:Income Statement dataIntersegment Americas/2024EuropeMEIAeliminations TotalAPA(**)Total revenues (*) 2,678,198 1,632,197 166,550 (979,390) 3,497,555EBITDA 327,657 207,400 14,019 (653) 548,423Amortization (80,908) (36,466) (248) (117,622)EBIT 246,749 170,934 13,771 (653) 430,801Net financial income (1,427)(expenses)Profit (loss) before taxes 429,374Taxes (104,424)Profit (loss) for the year 324,950Profit (loss) pertaining to 14,213minorityProfit (loss) pertaining 310,737to GroupData from statement of financial positionIntersegment Americas/31 December 2024EuropeMEIAeliminations TotalAPA(**)Total assets 3,293,807 2,191,135 107,680 (1,256,496) 4,336,126Total liabilities (2,373,443) (900,486) (54,295) 1,256,491 (2,071,733)Income Statement dataIntersegment Americas/2023EuropeMEIAeliminations TotalAPA(**)Total revenues (*) 2,278,490 1,506,963 159,126 (868,675) 3,075,904EBITDA 280,966 142,360 14,820 (327) 437,819Amortization (76,029) (31,921) (241) - (108,191)EBIT 204,937 110,439 14,579 (327) 329,628Net financial income (2,330)(expenses)Profit (loss) before taxes 327,298Taxes (76,886)Profit (loss) for the year 250,412Profit (loss) pertaining to 35minorityProfit (loss) pertaining 250,377to GroupData from statement of financial positionIntersegment Americas/31 December 2023EuropeMEIAeliminations TotalAPA(**)Total assets 3,256,416 1,440,959 85,952 (970,899) 3,812,428Total liabilities (2,190,713) (744,695) (36,782) 970,901 (2,001,289)(*) The revenues for each segment include revenues generated by both third parties and other Group operating segments.(**) Eliminations refer to intersegment transactions generated and eliminated on a consolidated basis.46. Subsequent eventsAfter 31 December 2024 through the date on which this annual report was approved, no events occurred that would have had a significant impact on the financial and economic results record-ed, as per IAS 10 - Events after the reporting period.List of consolidated companiesInterest held at 31/12/2024Company name Registered office Currency Share capital (1)Directly IndirectlyDE\u2019LONGHI APPLIANCES S.R.L. Treviso EUR 200,000,000 100.0%DE\u2019LONGHI AMERICA INC. Upper Saddle River USD 600,000 100.0%DE\u2019LONGHI FRANCE SAS Clichy EUR 2,737,500 100.0%DE\u2019LONGHI CANADA INC. Brampton CAD 1 100.0%DE\u2019LONGHI DEUTSCHLAND GMBH Neu-Isenburg EUR 2,100,000 100.0%DE\u2019LONGHI BRAUN HOUSEHOLD GMBH Neu-Isenburg EUR 100,000 100.0%DE\u2019LONGHI ELECTRODOMESTICOS ESPANA S.L. Barcellona EUR 3,066 100.0%DE\u2019LONGHI CAPITAL SERVICES S.R.L. (2) Treviso EUR 53,000,000 11.3% 88.7%E- SERVICES S.R.L. Treviso EUR 50,000 100.0%DE\u2019LONGHI KENWOOD A.P.A. LTD Hong Kong HKD 73,010,000 100.0%TRICOM INDUSTRIAL COMPANY LIMITED Hong Kong HKD 171,500,000 100.0%PROMISED SUCCESS LIMITED Hong Kong HKD 28,000,000 100.0%ON SHIU (ZHONGSHAN) ELECTRICAL APPLIANCE CO.LTD. Zhongshan City CNY USD 21,200,000 100.0%DE\u2019LONGHI-KENWOOD APPLIANCES (DONG GUAN) CO.LTD. Qing Xi Town CNY HKD 285,000,000 100.0%DE LONGHI BENELUX S.A. Luxembourg EUR 101,342,720 100.0%DE\u2019LONGHI JAPAN CORPORATION Tokyo JPY 450,000,000 100.0%DE\u2019LONGHI AUSTRALIA PTY LTD. Prestons AUD 28,800,001 100.0%DE\u2019LONGHI NEW ZEALAND LTD. (3) Auckland NZD 16,007,143 100.0%DE\u2019LONGHI LLC Mosca RUB 3,944,820,000 100.0%KENWOOD APPLIANCES LTD. Havant GBP 30,586,001 100.0%KENWOOD LIMITED Havant GBP 26,550,000 100.0%KENWOOD INTERNATIONAL LTD. Havant GBP 20,000,000 100.0%KENWOOD APPL. (SINGAPORE) PTE LTD. Singapore SGD 500,000 100.0%KENWOOD APPL. (MALAYSIA) SDN.BHD. Subang Jaya MYR 1,000,000 100.0%DE\u2019LONGHI-KENWOOD GMBH Wr Neudorf EUR 36,336 100.0%DELONGHI SOUTH AFRICA PTY.LTD. Constantia Kloof ZAR 100,332,500 100.0%DE\u2019LONGHI KENWOOD HELLAS SINGLE MEMBER S.A. Atene EUR 452,520 100.0%Interest held at 31/12/2024Company name Registered office Currency Share capital (1)Directly IndirectlyDE\u2019LONGHI PORTUGAL UNIPESSOAL LDA Matosinhos EUR 5,000 100.0%ARIETE DEUTSCHLAND GMBH Dusseldorf EUR 25,000 100.0%CLIM.RE. S.A. Luxembourg EUR 1,239,468 4.0% 96.0%ELLE S.R.L. Treviso EUR 10,000 100.0%TASFIYE HALINDE DE\u2019LONGHI BOSPHORUS EV ALETLERI Istanbul TRY 3,500,000 100.0%TICARET ANONIM SIRKETIDE\u2019LONGHI PRAGA S.R.O. Praga CZK 200,000 100.0%DE'LONGHI SWITZERLAND AG Baar CHF 1,000,000 100.0%DL HRVATSKA D.O.O. Zagabria EUR HRK 20,000 100.0%DE\u2019LONGHI BRASIL - COM\u00c9RCIO E IMPORTA\u00c7\u00c3O Ltda S\u00e3o Paulo BRL 43,857,581 100.0%DE\u2019LONGHI POLSKA SP. Z.O.O. Varsavia PLN 50,000 0.1% 99.9%DE\u2019LONGHI APPLIANCES TECHNOLOGY SERVICES (Shenzen) Co. Ltd Shenzen CNY USD 175,000 100.0%DE\u2019LONGHI UKRAINE LLC Kiev UAH 549,843 100.0%DE\u2019LONGHI KENWOOD MEIA F.ZE Dubai USD AED 2,000,000 100.0%DE\u2019LONGHI ROMANIA S.R.L. Cluj-Napoca RON 140,000,000 10.0% 90.0%DE'LONGHI KOREA LTD Seoul KRW 900,000,000 100.0%DL CHILE S.A. Santiago del Cile CLP 3,079,065,844 100.0%DE\u2019LONGHI SCANDINAVIA AB Stockholm SEK 5,000,000 100.0%DELONGHI MEXICO SA DE CV Bosques de las Lomas MXN 53,076,000 100.0%DE\u2019LONGHI APPLIANCES (SHANGHAI) CO. LTD Shanghai CNY USD 14,245,000 100.0%DE' LONGHI MAGYARORSZ\u00c1G KFT. Budapest HUF 34,615,000 100.0%DE' LONGHI US HOLDING LLC Wilmington USD 50,100,000 100.0%DE LONGHI LLP Almaty KZT 500,000 100.0%DE LONGHI BENELUX II S.\u00e0r.l. Luxembourg CHF 76,272,000 100.0%LA MARZOCCO, EVERSYS & CO S.\u00e0r.l. Luxembourg EUR 112,979,231 69.9%I DUE LEONI S.R.L. Milano EUR 10,000 69.9%THE TWO LIONS INDUSTRIES CORP. Dover USD 10,000 69.9%Interest held at 31/12/2024Company name Registered office Currency Share capital (1)Directly IndirectlyBRUNO INTERNATIONAL HoldCo LLC Wilmington USD 1 61.5%BRUNO U.S. HoldCo LLC Wilmington USD 1 61.5%EVERSYS S.A. Sierre CHF 2,500,000 61.5%EVERSYS INC Toronto USD 77 61.5%EVERSYS INC DELAWARE Wilmington USD 200,000 61.5%EVERSYS UK LIMITED Crawley GBP 70,000 61.5%EVERSYS IRELAND LIMITED Dublin EUR 100 61.5%EVERSYS DIGITRONICS AG M\u00fcnsingen CHF 100,000 61.5%ELLITEC GMBH Stans CHF 20,000 61.5%LA MARZOCCO SRL Firenze EUR 52,000 59.1%LA MARZOCCO INTERNATIONAL LLC Seattle USD 60,626,218 61.5%LA MARZOCCO EXPERIENCE, LLC Seattle USD - 61.5%LMI BUILDING, LLC Seattle USD - 61.5%LA MARZOCCO USA LLC Seattle USD - 61.5%LA MARZOCCO AUSTRALASIA LIMITED Auckland NZD - 61.5%LA MARZOCCO AUSTRALASIA GP LTD Abbotsford AUD 1,000 61.5%LA MARZOCCO AUSTRALASIA PTY LTD. Abbotsford AUD 993,015 61.5%LA MARZOCCO UK LIMITED Londra GBP 100 61.5%LA MARZOCCO SPAIN SL Barcelona EUR 10,000 61.5%LA MARZOCCO DEUTSCHALAND GMBH Markgr\u00f6ningen EUR 25,000 61.5%LA MARZOCCO SHANGHAI CO. LTD Shanghai CNY 6,566,792 31.4%ELECTRO SYSTEM SRL Firenze EUR 60,000 30.1%BREWTECH PTY LTD Kensington AUD 100 36.9%LA MARZOCCO MIDDLE EAST DMCC Dubai AED 50,000 59.1%LA MARZOCCO SEA PTE LTD Singapore EUR - 61.5%LA MARZOCCO FRANCE SAS Parigi EUR 10,000 59.1%LA MARZOCCO EQUIPMENT TRADING L.L.C (4) Dubai AED 200,000 61.5%Interest held at 31/12/2024Company name Registered office Currency Share capital (1)Directly IndirectlyCAPITAL BRANDS HOLDINGS, INC. Wilmington USD 44 100.0%CAPITAL BAY, LIMITED (3) Hong Kong USD - 100.0%CAPBRAN HOLDINGS, LLC Los Angeles USD - 100.0%CAPITAL BRANDS, LLC Los Angeles USD - 100.0%CAPITAL BRANDS DISTRIBUTION, LLC Los Angeles USD - 100.0%BULLET BRANDS, LLC Los Angeles USD - 100.0%HOMELAND HOUSEWARES, LLC Los Angeles USD - 100.0%BABY BULLET, LLC Los Angeles USD - 100.0%NUTRIBULLET, LLC Los Angeles USD - 100.0%NUTRILIVING, LLC Los Angeles USD - 100.0%Investments valued in accordance with the equity methodInterest held at 31/12/2024Company name Registered office Currency Share capital (1)Directly IndirectlyDL-TCL HOLDINGS (HK) LTD. Hong Kong HKD USD 5,000,000 50%TCL-DE\u2019LONGHI HOME APPLIANCES (ZHONGSHAN) CO.LTD. Zhongshan City CNY USD 5,000,000 50%TCL-DELONGHI ELECTRICAL APPLIANCES HK CO. LIMITED Hong Kong HKD USD 300,000 50%NPE S.R.L. Treviso EUR 1,000,000 20%H&T-NPE EAST EUROPE S.R.L. Madaras RON 14,707,600 20%SONGWA ESTATE GMBH Emmerich EUR 45,000 20%(1) Figures at 31 December 2024, unless otherwise specified.(2) The articles of association, approved by the extraordinary shareholders' meeting held on 29 December 2004, give special rights to De'Longhi S.p.A. (holding 89% of the voting rights) for ordinary resolutions (approval of financial statements, declaration of dividends, nomination of directors and statutory auditors, purchase and sale of companies, grant of loans to third parties); voting rights are proportional as far as other resolutions are concerned, except for the preferential right to receive dividends held by the shareholder Kenwood Appliances Ltd.(3) Dormant.(4) Share capital deliberated but not yet paid.Statement of consolidated cash flows in terms of net financial position(\u20ac/000) 2024 2023Net Result 324,950 250,412Income taxes for the period 104,424 76,886Amortization 117,622 108,191Net change in provisions and other non-cash items (4,389) 10,851Cash flow generated by current operations (A) 542,607 446,340Change in assets and liabilities for the period:Trade receivables (39,908) 2,369Inventories (59,442) 34,553Trade payables 115,363 186,920Other changes in net working capital 26,965 11,741Payment of income taxes (99,203) (97,555)Cash flow generated (absorbed) by movements in working capital (B) (56,225) 138,028Cash flow generated by current operations and movements in working capital (A+B) 486,382 584,368Investment activities:Investments in intangible assets (17,841) (18,670)Other cash flows for intangible assets - -Investments in property, plant and equipment (85,637) (76,632)Other cash flows for property, plant and equipment 1,570 1,933Investments in leased assets (26,047) (41,036)Other cash flows for leased assets 552 949Net investments in financial assets and in minority interest (273) 1,147Cash flow absorbed by ordinary investment activities (C) (127,676) (132,309)Cash flow by operating activities (A+B+C) 358,706 452,059Business combination La Marzocco (D) (326,779) -Fair value and cash flow reserves 5,408 (614)Change in currency translation reserve 39,255 (20,648)Exercise of stock option 12,712 5,101Dividends paid (101,017) (72,079)Dividends paid to minority interests (7,650) -Cash flows absorbed by changes net equity (E) (51,292) (88,240)Cash flow for the period (A+B+C+D+E) (19,365) 363,819Opening net financial position 662,600 298,781Cash flow for the period (A+B+C+D+E) (19,365) 363,819Consolidated closing net financial position 643,235 662,600Transactions and balances with related partiesof which with of which with (\u20ac/000) 20242023related partiesrelated partiesRevenue from sales 3,445,635 398 3,043,086 691Other revenues 51,920 984 32,818 722Total consolidated revenues 3,497,555 3,075,904Raw and ancillary materials, consumables and goods (1,515,164) (30,231) (1,301,454) (34,455)Change in inventories of finished products and work in progress 83,484 (23,588)Change in inventories of raw and ancillary materials, consumables (11,342) (10,800)and goodsMaterials consumed (1,443,022) (1,335,842)Payroll costs (484,707) (393,246)Services and other operating expenses (996,252) (685) (885,207) (694)Provisions (25,151) (23,790)Amortization (117,622) (108,191)EBIT 430,801 329,628Net financial income (expenses) (1,427) (266) (2,330) (286)PROFIT (LOSS) BEFORE TAXES 429,374 327,298Taxes (104,424) (76,886)CONSOLIDATED PROFIT (LOSS) 324,950 250,412Profit (loss) pertaining to minority 14,213 35CONSOLIDATED PROFIT (LOSS) AFTER TAXES 310,737 250,377Transactions and balances with related partiesASSETSof which with of which with 31.12.202431.12.2023(\u20ac/000)related partiesrelated partiesNON-CURRENT ASSETSINTANGIBLE ASSETS 1,323,326 878,330- Goodwill 694,208 371,686- Other intangible assets 629,118 506,644PROPERTY, PLANT AND EQUIPMENT 560,606 477,981- Land, property, plant and machinery 300,339 226,757- Other tangible assets 152,312 154,799- Right of use assets 107,955 96,425EQUITY INVESTMENTS AND OTHER FINANCIAL ASSETS 142,198 131,725- Equity investments 5,223 4,294- Receivables 5,721 5,400- Other non-current financial assets 131,254 122,031DEFERRED TAX ASSETS 74,177 60,413TOTAL NON-CURRENT ASSETS 2,100,307 1,548,449CURRENT ASSETSINVENTORIES 621,850 504,678TRADE RECEIVABLES 336,145 971 272,692 1,032CURRENT TAX ASSETS 11,341 20,244OTHER RECEIVABLES 52,659 412 43,694CURRENT FINANCIAL RECEIVABLES AND ASSETS 194,113 172,472CASH AND CASH EQUIVALENTS 1,019,711 1,250,198TOTAL CURRENT ASSETS 2,235,819 2,263,978Non-current assets held for sale - -TOTAL ASSETS 4,336,126 3,812,427Transactions and balances with related partiesNET EQUITY AND LIABILITIESof which with of which with 31.12.202431.12.2023(\u20ac/000)related partiesrelated partiesNET EQUITYGROUP PORTION OF NET EQUITY 2,076,741 1,811,139- Share Capital 226,820 226,590- Reserves 1,539,184 1,334,172- Profit (loss) pertaining to the Group 310,737 250,377MINORITY INTEREST 187,652 -TOTAL NET EQUITY 2,264,393 1,811,139NON-CURRENT LIABILITIESFINANCIAL PAYABLES 505,771 593,079- Banks loans and borrowings (long-term portion) 227,988 300,844- Other financial payables (long-term portion) 193,581 214,617- Lease liabilities (long-term portion) 84,202 14,968 77,618 19,008DEFERRED TAX LIABILITIES 112,758 72,164NON-CURRENT PROVISIONS FOR CONTINGENCIES AND OTHER 138,196 122,918CHARGES- Employee benefits 63,197 51,041- Other provisions 74,999 71,877TOTAL NON-CURRENT LIABILITIES 756,725 788,161CURRENT LIABILITIESTRADE PAYABLES 873,139 9,986 716,238 7,473FINANCIAL PAYABLES 196,072 289,022- Banks loans and borrowings (short-term portion) 94,246 196,005- Other financial payables (short-term portion) 75,617 1,658 72,012- Lease liabilities (short-term portion) 26,209 4,154 21,005 4,076CURRENT TAX LIABILITIES 75,821 37,242 70,571 26,115OTHER PAYABLES 169,976 137,297TOTAL CURRENT LIABILITIES 1,315,008 1,213,128TOTAL NET EQUITY AND LIABILITIES 4,336,126 3,812,428Transactions and balances with related partiesSummary by companyIn compliance with the guidelines and methods for identifying significant transactions, especially those with related parties covered by the De' Longhi S.p.A. rules on corporate governance, we shall now present the following information concerning related party transactions during 2024 and related balances with mainly commercial nature at 31 December 2024:Financial Income Trade and other Trade and other Financial payables (\u20ac/million) Revenues Costs(Expense)receivablespayables- IFRS 16Related companies:HeT-NPE EAST EUROPE SRL - 2.2 - - 1.5 -TCL-De\u2019Longhi Home Appliances (Zhongshan) Co.Ltd. - 6.2 - - 0.8 -NPE S.r.l. 0.4 21.9 - 0.9 7.7 -Gamma S.r.l. 0.9 0.6 (0.3) 0.5 - 19.1De Longhi Industrial S.A. - - - - 37.2 1.7Other related parties 0.1 - - - - -TOTAL RELATED PARTIES 1.4 30.9 (0.3) 1.4 47.2 20.8Following the application of IFRS 16 Leases, payables owed to Gamma S.r.l., along with the relative right-of-use assets, stemming from the leases for two locations in Italy were recognized; interest expenses owed for the period was also recognized. The Parent Company De\u2019 Longhi S.p.A. and a few Italian subsidiaries adhered to the national tax consolidation regime (Presidential Decree. n. 917/1986 - \u201cTUIR\u201d- articles 117 through 129, and Decree of 1st March 2018), as part of a tax group formed by De Longhi Industrial S.A. for the period 2022 - 2024. The \u20ac37.2 million included in tax payables is comprised of the taxes payable by the members of the tax group through De Longhi Industrial S.A..Please, refer to the yearly \u201cAnnual Report on Remuneration and Compensation Paid\u201d for information relating to the compensation of directors and statutory auditors.Fees paid to the external auditors Disclosure pursuant to art. 149-duodecies of the Consob Issuer RegulationsType of service Party performing the service Recipient Fees earned during the yearPwC S.p.A. De\u2019 Longhi S.p.A. (parent company) 407PwC S.p.A. Italian subsidiaries 266AuditingNetwork of parent company auditor Foreign subsidiaries 1,180Other auditors Foreign subsidiaries 111PwC S.p.A. De\u2019 Longhi S.p.A. (parent company) 110Network of parent company auditor De\u2019 Longhi S.p.A. (parent company) 130Other servicesPwC S.p.A. Italian subsidiaries 59Network of parent company auditor Foreign subsidiaries 336(Euro/000)",
"dimensions": {
"concept": "ifrs-full:DisclosureOfNotesAndOtherExplanatoryInformationExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s5__3__5": {
"value": "226590000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__4__5": {
"value": "38268000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__5__5": {
"value": "45269000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__6__5": {
"value": "172733000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "DEL:ExtraordinaryReserveMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__7__5": {
"value": "-14534000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__8__5": {
"value": "497000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "DEL:ReserveOfCashFlowHedgesAndReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__9__5": {
"value": "6373000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__10__5": {
"value": "74280000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__11__5": {
"value": "932213000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsExcludingProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__12__5": {
"value": "177428000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__13__5": {
"value": "1659117000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__14__5": {
"value": "4274000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__15__5": {
"value": "1663391000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s5__11__6": {
"value": "72079000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsExcludingProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__13__6": {
"value": "72079000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__15__6": {
"value": "72079000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s5__5__7": {
"value": "49000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__6__7": {
"value": "28680000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "DEL:ExtraordinaryReserveMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__11__7": {
"value": "148699000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsExcludingProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__12__7": {
"value": "-177428000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__13__7": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__15__7": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s5__9__8": {
"value": "907000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__13__8": {
"value": "907000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__15__8": {
"value": "907000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s5__4__9": {
"value": "1810000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__7__9": {
"value": "4876000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__9__9": {
"value": "-1585000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__13__9": {
"value": "5101000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__15__9": {
"value": "5101000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s5__11__10": {
"value": "4338000.0",
"decimals": -3,
"dimensions": {
"concept": "DEL:IncreaseDecreaseThroughOtherContributionsByOwnersAndIncreaseDecreaseThroughOtherDistributionsToOwners",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsExcludingProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__13__10": {
"value": "4338000.0",
"decimals": -3,
"dimensions": {
"concept": "DEL:IncreaseDecreaseThroughOtherContributionsByOwnersAndIncreaseDecreaseThroughOtherDistributionsToOwners",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__14__10": {
"value": "-4338000.0",
"decimals": -3,
"dimensions": {
"concept": "DEL:IncreaseDecreaseThroughOtherContributionsByOwnersAndIncreaseDecreaseThroughOtherDistributionsToOwners",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__15__10": {
"value": "0.0",
"dimensions": {
"concept": "DEL:IncreaseDecreaseThroughOtherContributionsByOwnersAndIncreaseDecreaseThroughOtherDistributionsToOwners",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s5__3__11": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__4__11": {
"value": "1810000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__5__11": {
"value": "49000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__6__11": {
"value": "28680000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "DEL:ExtraordinaryReserveMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__7__11": {
"value": "4876000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__8__11": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "DEL:ReserveOfCashFlowHedgesAndReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__9__11": {
"value": "-678000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__10__11": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__11__11": {
"value": "80958000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsExcludingProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__12__11": {
"value": "-177428000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__13__11": {
"value": "-61733000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__14__11": {
"value": "-4338000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__15__11": {
"value": "-66071000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s5__12__12": {
"value": "250377000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__13__12": {
"value": "250377000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__14__12": {
"value": "35000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__15__12": {
"value": "250412000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s5__8__13": {
"value": "-238000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "DEL:ReserveOfCashFlowHedgesAndReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__10__13": {
"value": "-33413000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__11__13": {
"value": "-2971000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsExcludingProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__13__13": {
"value": "-36622000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__14__13": {
"value": "29000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__15__13": {
"value": "-36593000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s5__3__14": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__4__14": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__5__14": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__6__14": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "DEL:ExtraordinaryReserveMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__7__14": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__8__14": {
"value": "-238000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "DEL:ReserveOfCashFlowHedgesAndReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__9__14": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__10__14": {
"value": "-33413000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__11__14": {
"value": "-2971000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsExcludingProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__12__14": {
"value": "250377000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__13__14": {
"value": "213755000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__14__14": {
"value": "64000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__15__14": {
"value": "213819000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s5__3__15": {
"value": "226590000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__4__15": {
"value": "40078000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__5__15": {
"value": "45318000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__6__15": {
"value": "201413000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "DEL:ExtraordinaryReserveMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__7__15": {
"value": "-9658000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__8__15": {
"value": "259000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "DEL:ReserveOfCashFlowHedgesAndReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__9__15": {
"value": "5695000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__10__15": {
"value": "40867000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__11__15": {
"value": "1010200000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsExcludingProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__12__15": {
"value": "250377000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__13__15": {
"value": "1811139000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__14__15": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__15__15": {
"value": "1811139000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s5__3__21": {
"value": "226590000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__4__21": {
"value": "40078000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__5__21": {
"value": "45318000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__6__21": {
"value": "201413000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "DEL:ExtraordinaryReserveMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__7__21": {
"value": "-9658000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__8__21": {
"value": "259000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "DEL:ReserveOfCashFlowHedgesAndReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__9__21": {
"value": "5695000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__10__21": {
"value": "40867000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__11__21": {
"value": "1010200000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsExcludingProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__12__21": {
"value": "250377000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__13__21": {
"value": "1811139000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__14__21": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__15__21": {
"value": "1811139000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s5__6__22": {
"value": "64439000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "DEL:ExtraordinaryReserveMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__11__22": {
"value": "36578000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsExcludingProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__13__22": {
"value": "101017000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__15__22": {
"value": "101017000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s5__11__23": {
"value": "250377000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsExcludingProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__12__23": {
"value": "-250377000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__13__23": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__15__23": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughAppropriationOfRetainedEarnings",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s5__9__24": {
"value": "5984000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__13__24": {
"value": "5984000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__15__24": {
"value": "5984000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s5__3__25": {
"value": "230000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__4__25": {
"value": "6722000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__7__25": {
"value": "9658000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__9__25": {
"value": "-3898000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__13__25": {
"value": "12712000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__15__25": {
"value": "12712000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughExerciseOfOptions",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s5__13__26": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:DividendsRecognisedAsDistributionsToNoncontrollingInterests",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__14__26": {
"value": "7650000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsRecognisedAsDistributionsToNoncontrollingInterests",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__15__26": {
"value": "7650000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:DividendsRecognisedAsDistributionsToNoncontrollingInterests",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s5__11__27": {
"value": "-23225000.0",
"decimals": -3,
"dimensions": {
"concept": "DEL:IncreaseDecreaseThroughOtherContributionsByOwnersAndIncreaseDecreaseThroughOtherDistributionsToOwners",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsExcludingProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__13__27": {
"value": "-23225000.0",
"decimals": -3,
"dimensions": {
"concept": "DEL:IncreaseDecreaseThroughOtherContributionsByOwnersAndIncreaseDecreaseThroughOtherDistributionsToOwners",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__14__27": {
"value": "178732000.0",
"decimals": -3,
"dimensions": {
"concept": "DEL:IncreaseDecreaseThroughOtherContributionsByOwnersAndIncreaseDecreaseThroughOtherDistributionsToOwners",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__15__27": {
"value": "155507000.0",
"decimals": -3,
"dimensions": {
"concept": "DEL:IncreaseDecreaseThroughOtherContributionsByOwnersAndIncreaseDecreaseThroughOtherDistributionsToOwners",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s5__3__28": {
"value": "230000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__4__28": {
"value": "6722000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__5__28": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__6__28": {
"value": "-64439000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "DEL:ExtraordinaryReserveMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__7__28": {
"value": "9658000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__8__28": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "DEL:ReserveOfCashFlowHedgesAndReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__9__28": {
"value": "2086000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__10__28": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__11__28": {
"value": "190574000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsExcludingProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__12__28": {
"value": "-250377000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__13__28": {
"value": "-105546000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__14__28": {
"value": "171082000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__15__28": {
"value": "65536000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s5__12__29": {
"value": "310737000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__13__29": {
"value": "310737000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__14__29": {
"value": "14213000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__15__29": {
"value": "324950000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s5__8__30": {
"value": "4390000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "DEL:ReserveOfCashFlowHedgesAndReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__10__30": {
"value": "56211000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__11__30": {
"value": "-190000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsExcludingProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__13__30": {
"value": "60411000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__14__30": {
"value": "2357000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__15__30": {
"value": "62768000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s5__3__31": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__4__31": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__5__31": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__6__31": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "DEL:ExtraordinaryReserveMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__7__31": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__8__31": {
"value": "4390000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "DEL:ReserveOfCashFlowHedgesAndReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__9__31": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__10__31": {
"value": "56211000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__11__31": {
"value": "-190000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsExcludingProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__12__31": {
"value": "310737000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__13__31": {
"value": "371148000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__14__31": {
"value": "16570000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__15__31": {
"value": "387718000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s5__3__32": {
"value": "226820000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__4__32": {
"value": "46800000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__5__32": {
"value": "45318000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:StatutoryReserveMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__6__32": {
"value": "136974000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "DEL:ExtraordinaryReserveMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__7__32": {
"value": "0.0",
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__8__32": {
"value": "4649000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "DEL:ReserveOfCashFlowHedgesAndReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__9__32": {
"value": "7781000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__10__32": {
"value": "97078000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__11__32": {
"value": "1200584000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsExcludingProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__12__32": {
"value": "310737000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsProfitLossForReportingPeriodMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__13__32": {
"value": "2076741000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__14__32": {
"value": "187652000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
"unit": "iso4217:EUR"
}
},
"f1__s5__15__32": {
"value": "2264393000.0",
"decimals": -3,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"f1__s7__6__7": {
"value": "Group businessThis document represents the consolidated financial state-ments of the De\u2019 Longhi Group.The parent company De\u2019 Longhi S.p.A. is a jointstock compa-ny, incorporated in Italy, whose shares are listed on the Italian stock exchange (Euronext Milan) run by Borsa Italiana.The registered office is located in Treviso (Italy) in via Lodovico Seitz, 47.The Group operates in Europe, America, Asia Pacific and MEIA.The Group is active in the production and distribution of do-mestic and professional coffee machines, small appliances for food preparation and cooking, domestic cleaning and ironing, air conditioning and portable heaters.The companies included in the scope of consolidation are listed in Appendix 1 to the Explanatory notes.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__8": {
"value": "De\u2019 Longhi Group",
"dimensions": {
"concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__13": {
"value": "De\u2019 Longhi S.p.A.",
"dimensions": {
"concept": "ifrs-full:NameOfParentEntity",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__9": {
"value": "De\u2019 Longhi S.p.A.",
"dimensions": {
"concept": "ifrs-full:NameOfUltimateParentOfGroup",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__10": {
"value": "jointstock compa-ny",
"dimensions": {
"concept": "ifrs-full:LegalFormOfEntity",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__11": {
"value": "incorporated in Italy, whose shares are listed on the Italian stock exchange (Euronext Milan) run by Borsa Italiana.",
"dimensions": {
"concept": "ifrs-full:CountryOfIncorporation",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__12": {
"value": "Treviso (Italy)",
"dimensions": {
"concept": "ifrs-full:DomicileOfEntity",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__14": {
"value": "in via Lodovico Seitz, 47.",
"dimensions": {
"concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__15": {
"value": "The Group operates in Europe, America, Asia Pacific and MEIA.",
"dimensions": {
"concept": "ifrs-full:PrincipalPlaceOfBusiness",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__16": {
"value": "The Group is active in the production and distribution of do-mestic and professional coffee machines, small appliances for food preparation and cooking, domestic cleaning and ironing, air conditioning and portable heaters.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__17": {
"value": "The companies included in the scope of consolidation are listed in Appendix 1 to the Explanatory notes.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__19": {
"value": "Accounting standardsThe De\u2019Longhi Group\u2019s consolidated financial statements at 31 December 2024 have been prepared on the basis of the interna-tional accounting and financial reporting standards issued by the International Accounting Standards Board (IASB), including the SIC and IFRIC interpretations, as endorsed by the European Commission (at the date of 31 December 2024), pursuant to EC Regulation 1606 of 19 July 2002.The following documents have been used for interpretation and application purposes even though not endorsed by the Eu-ropean Commission:\u2022 Framework for the Preparation and Presentation of Finan-cial Statements of the International Accounting Standards Board (issued by the IASB in 2001);\u2022 Implementation Guidance, Basis for Conclusions, IFRIC and other documents issued by the IASB or IFRIC to comple-ment the accounting standards;\u2022 Interpretations published by the Italian Accounting Board relating to how to apply IAS/IFRS in Italy.",
"dimensions": {
"concept": "ifrs-full:StatementOfIFRSCompliance",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__18": {
"value": "Accounting standardsThe De\u2019Longhi Group\u2019s consolidated financial statements at 31 December 2024 have been prepared on the basis of the interna-tional accounting and financial reporting standards issued by the International Accounting Standards Board (IASB), including the SIC and IFRIC interpretations, as endorsed by the European Commission (at the date of 31 December 2024), pursuant to EC Regulation 1606 of 19 July 2002.The following documents have been used for interpretation and application purposes even though not endorsed by the Eu-ropean Commission:\u2022 Framework for the Preparation and Presentation of Finan-cial Statements of the International Accounting Standards Board (issued by the IASB in 2001);\u2022 Implementation Guidance, Basis for Conclusions, IFRIC and other documents issued by the IASB or IFRIC to comple-ment the accounting standards;\u2022 Interpretations published by the Italian Accounting Board relating to how to apply IAS/IFRS in Italy.The accounting policies and measurement bases used for pre-paring the financial statements at 31 December 2024 are the same as those used for preparing the consolidated financial statements at 31 December 2023, except for certain new amendments and accounting standards described below, whose adoption did not have significant impacts on the pres-ent financial statement.The consolidated financial statements at 31 December 2024 comprise the income statement, the statement of comprehen-sive income, the statement of financial position, the statement of cash flows, the statement of changes in net equity and the explanatory notes.The statement of financial position has been prepared on a basis that distinguishes between current and non-current items. The income statement has been presented on the basis of the nature of expense, being a suitable structure for faithfully rep-resenting the Group\u2019s performance.The statement of cash flows has been prepared using the \u201cin-direct method\u201d allowed by IAS 7.The present financial statements and notes are presented in Euro, with all amounts rounded to thousands of Euro, unless otherwise indicated.The financial statements used for consolidation purposes are the separate ones for the year ended 31 December 2024 pre-pared by the Boards of Directors, or other Corporate bodies, of the individual companies, adjusted if necessary for the Group\u2019s accounting policies and measurement bases.The financial statements have been prepared on the historical cost basis, adjusted as required for the valuation of certain fi-nancial instruments.They have also been prepared on a going concern basis. De-spite the unpredictability of potential macroeconomic develop-ments and the inflationary tensions, the Group, in light of its fi-nancial strength and the actions taken to limit risks and its business model, believes that there are no elements which could compromise the business as a going concern as per paragraph 25 of IAS 1.The risks and uncertainties relating to the business are de-scribed in a specific section of the Report on operations. The methods used by the Group to manage financial risks are described in note 42. Risk management of the present Explan-atory notes.As part of a double materiality analysis, the Group identified the impact on climate change of the GHG emissions generat-ed by their direct and indirect activities as significant, as well as the related risks and financial opportunities, found as a result of a qualitative analysis. In a subsequent phase other analyses were then conducted in order to integrate the current qualitative approach with methods based on publicly available climatic scenarios. With reference to the climate change, the Group has assessed any potential impacts on reported values. For further information, refer to the Sustainability Report found in the Report on Operations found in this document. The present annual financial report have been issued in the ESEF format (European Single Electronic Format); it was ap-proved and authorized for publication by the Board of Directors on 14 March 2025.International accounting standards adopted by the Group for the first timeWith Regulation 2579/2023 of 20 November 2023 the Europe-an Commission introduced amendments toIFRS 16 - Leases which clarify how to account for sale and leaseback transactions.Regulation 2822/2023 of 19 December 2023 introduced amend-ments to IAS 1 - Presentation of financial statement which aim to improve disclosure when the right to defer settlement of a liability for at least twelve months is subject to a covenant.With Regulation 1317/2024 of 15 May 2024 the European Commission adopted a few amendments toIAS 7 and IFRS 7 that establish disclosure requirements for supplier finance arrangements.On 22 December 2022 \u201cCouncil Directive (EU) 2022/2523 on ensuring a global minimum level of taxation for multinational enterprise groups and large-scale domestic groups in the Union\u201d was published in the Gazzetta Ufficiale. The Directive was endorsed by member states by year-end 2023, as part of a coordinated effort, in accordance with the different domestic tax regimes.At the same time, the IASB launched a project to revise IAS 12 which resulted in the publication of an amendment, namely \u201cInternational Tax Reform - Pillar 2 Model Rules\u201d.The two documents are part of an ongoing debate about the reform of the international tax system undertaken by the Or-ganization for Economic Cooperation and Development (OECD). The reform calls for a solution based on the two pillars (the two-pillar solution). Pillar 1 focuses on a tax model which aims to reexamine the traditional concepts of \u201cresidence\u201d and \u201cjurisdiction\u201d. Pillar 2 aims to limit tax arbitrage in the alloca-tion of income by imposing a minimum tax rate of 15% % (Global anti-Base Erosion Rules, GloBE) on multinational companies.The law took effect as of the year beginning on 1 January 2024 and the Group, falling within the scope of Pillar Two applica-tion, assessed the impact of the new law while taking account of the amendments introducted in IAS 12 \u201cIncome Taxes\u201d.The assessment was based on the latest available financial in-formation used to prepare the Group\u2019s consolidated 2024 annual report and the tax regulations currently in effect in the different countries where the Group is present. As required by paragraph 4.A of IAS 12, in exception to the provisions of this standard, the Group did not recognize nor disclose information on deferred assets and liabilities relating to Pillar 2 income taxes.The application of the new international accounting standards did not have a significant impact on the Group\u2019s economic re-sults and/or financial position, with the exception of what is described in these Explanatory notes. International accounting standards and/or intepretations not yet applicable In August 2023 IASB published Amendments to IAS 21 - Lack of exchangeability, which have been adopted by the European Union with Regulation 2862/2024 of 12 September 2024, that contain guidance to specify when a currency is exchangeable and how to determine the exchange rate when it is not. These amendments will be effective for reporting periods beginning on or after 1 January 2025.In May 2024 IASB published Amendments to IFRS 9 and IFRS 7 - Amendments to the Classification and Measurement of Fi-nancial Instruments, effective for reporting periods beginning on or after 1 January 2026, subject to adoption by the Europe-an Union. The purpose of these amendments is to clarify the recognition/derecognition of financial assets and liabilities and provides specific guidelines for the settling of financial lia-bilities using an electronic payments system. Classification criteria for financial assets linked to ESG targets, non-recourse loans and related financial instruments were defined, as well. The mandatory disclosure requirements relating to invest-ments in equity instruments designated at fair value through other comprehensive income and for financial instruments with contingent features were also expanded.In April 2024 IASB published the new IFRS 18 - Presentation and Disclosure in Financial Statements, which defines the requirements for the presentation of the income statement, statement of financial position and the statement of changes in net equity, as well as the mandatory disclosures for the ex-planatory notes. The standard aims to improve the compara-bility of the income statement by requiring a more structured income statement through the use of categories and sub-to-tals, increasing the transparency of the performance indica-tors, define criteria for the aggregation/disaggregation of the information. After adoption by the European Union, the stand-ard will be effective for reporting periods beginning on or after 1 January 2027.The Group does not intend to opt for early application of the new standards, in the event it is allowed.Consolidation proceduresThe scope of consolidation includes the parent company, De\u2019 Longhi S.p.A., and its subsidiaries at 31 December 2024, meaning those companies in which the parent directly or indi-rectly owns the majority of share capital or shares with voting rights, or over which the parent has the power, including through contractual agreements, to govern their financial and operating policies.Subsidiaries companiesThese are companies over which the Group exercises control. Such control exists when the Group has the power, directly or indirectly, to govern the financial and operating policies of an enterprise so as to obtain benefits from its activities. The fi-nancial statements of subsidiaries are consolidated starting from the date that control is assumed with the line-by-line method.The portion of equity and results attributable to minority shareholders is shown separately in the consolidated state-ment of financial position and income statement respectively.The Group determines whether a transaction is a business combination by applying the definition which requires that the assets acquired and liabilities assumed constitute a business. A business is an integrated set of activities and assets that can provide a return to investors in the form of dividends, interests or other economic benefits. A business activity includes fac-tors and processes, which together contribute to the genera-tion of an output. In accordance with IFRS 3, business combi-nations are accounted for using the acquisition method.Under this method, the consideration transferred for the acqui-sition is measured at fair value except for the following items which are measured in accordance with the applicable stand-ard: i) deferred tax assets and liabilities, ii) assets and liabilities for employee benefits and iii) assets held for sale. In the case in which it is only possible to estimate provisionally the fair value of assets, liabilities and potential liabilities, the business combination is accounted for on the basis of provisional esti-mated values. Any subsequent corrections required following completion of the valuation process are accounted for within 12 months of the acquisition date.The fair value measurement includes any elements linked to the outcome of future events. In the event of business combi-nations achieved in stages, the value of the minority interest is redetermined based on the fair value of the assets acquired at the time of the transaction and any gains or losses are recog-nized in the profit (loss) for the year. The acquisition of further shares in subsidiaries and any sale of shares which do not lead to loss of control are accounted for as transactions between shareholders; as such, the ac-counting effects of such operations are reflected directly in the Group equity.Associated companiesThese are companies in which the Group has a significant in-fluence over their financial and operating policies and which are neither subsidiaries nor joint ventures. The consolidated fi-nancial statements show the Group\u2019s portion of results of the associated companies, accounted for using the equity method, starting from the date when the significant influence began. Joint venturesThese are companies over whose activities the Group has joint control, as established by contract. The consolidated financial statements include the Group\u2019s share of the results of joint ventures, reported using the equity method as per IAS 28 - In-vestment in associates and joint ventures amended.Transactions eliminated upon consolidationAll transactions and balances between Group companies and all unrealized gains and losses arising on intercompany trans-actions are eliminated on consolidation.Consolidation of foreign companiesAll the assets and liabilities of foreign companies that report in a currency other than the Euro and which fall within the scope of consolidation are translated into Euro using the exchange rate ruling at the end of the reporting period (current exchange rate method). Income and costs are translated using average rates for the reporting period. The exchange differences aris-ing from this method are booked directly to the \u201ccurrency translation reserve\u201d under consolidated net equity.Transactions in foreign currencyTransactions in foreign currency are recorded at the exchange rate in force on the transaction date. Monetary assets and lia-bilities in foreign currency are translated using the exchange rate ruling on the reporting date. Exchange differences arising on the extinguishment of monetary items or their translation at different rates to those used for their translation upon initial recognition or in previous financial statements are recorded in the income statement.Exchange differences arising on monetary items that are ef-fectively part of the Group\u2019s net investment in foreign opera-tions are classified in net equity until the investment\u2019s dispos-al, at which time such differences are recognized in the income statement as income or expenses.Translation of balances in foreign currenciesThe following exchange rates have been used:31.12.2024 31.12.2023 Variazione %Period-end Average Period-end Average Period-end Average exchange rate (*)exchange rate (*)exchange rate (*)exchange rate (*)exchange rate (*)exchange rate (*)US dollar USD 1.0389 1.0824 1.1050 1.0813 (5.98%) 0.10%British pound GBP 0.8292 0.8466 0.8691 0.8698 (4.59%) (2.66%)Hong Kong dollar HKD 8.0686 8.4454 8.6314 8.4650 (6.52%) (0.23%)Chinese renminbi (Yuan) CNY 7.5 833 7.7875 7.8509 7.6600 (3.41%) 1.66%Australian dollar AUD 1.6772 1.6397 1.6263 1.6288 3.13% 0.67%Canadian dollar CAD 1.4948 1.4821 1.4642 1.4595 2.09% 1.55%Japanese yen JPY 163.0600 163.8519 156.3300 151.9903 4.30% 7.80%Malaysian ringgit MYR 4.6454 4.9503 5.0775 4.9320 (8.51%) 0.37%New Zealand dollar NZD 1.8532 1.7880 1.7504 1.7622 5.87% 1.46%Polish zloty PLN 4.2750 4.3058 4.3395 4.5420 (1.49%) (5.20%)South African rand ZAR 19.6188 19.8297 20.3477 19.9551 (3.58%) (0.63%)Singapore dollar SGD 1.4164 1.4458 1.4591 1.4523 (2.93%) (0.45%)Russian rouble RUB 106.1028 100.2028 99.1919 92.2731 6.97% 8.59%Turkish lira TRY 36.7372 35.5734 32.6531 25.7597 12.51% 38.10%Czech koruna CZK 25.1850 25.1198 24.7240 24.0043 1.86% 4.65%Swiss franc CHF 0.9412 0.9526 0.9260 0.9718 1.64% (1.98%)Brazilian real BRL 6.4253 5.8283 5.3618 5.4010 19.83% 7.91%Ukrainian hryvnia UAH 43.6855 43.4901 41.9960 39.5400 4.02% 9.99%Romanian leu RON 4.9743 4.9746 4.9756 4.9467 (0.03%) 0.56%South Korean won KRW 1,532.1500 1,475.4000 1,433.6600 1,412.8800 6.87% 4.43%Chilean peso CLP 1,033.7600 1,020.6600 977.0700 908.2000 5.80% 12.38%Hungarian forint HUF 411.3500 395.3039 382.8000 381.8527 7.46% 3.52%Swedish krona SEK 11.4590 11.4325 11.0960 11.4788 3.27% (0.40%)Mexican peso MXN 21.5504 19.8314 18.7231 19.1830 15.10% 3.38%Tenge Kazakistan KZT 544.9800 507.9100 502.4800 493.5700 8.46% 2.91%(*) Source: Bank of Italy. Source for RUB period-end and average exchange rate of year 2024 and 2023: Central Bank of Russia.Main accounting policiesIntangible assetsGoodwillBusiness combinations, whereby control of a company/entity is acquired, are accounted for in accordance with the purchase method, meaning that the assets and liabilities acquired are ini-tially measured at their market value on the acquisition date.The difference between the cost of acquisition and the Group\u2019s share of net assets acquired is attributed to specific assets and liabilities to the extent of their acquisition date fair value; any remaining difference is allocated to goodwill, if positive, and to the income statement if negative. The cost of acquisi-tion is determined on the basis of the acquisition date fair value of the assets transferred, the liabilities assumed, the equity instruments issued and any other related amount.Goodwill is not amortized but tested for impairment once a year or more often if specific events or changed circumstanc-es indicate that its value may have been impaired. This proce-dure is in accordance with IAS 36 - Impairment of assets. After initial recognition, goodwill is carried at cost less any accumu-lated impairment losses.Research and development costsDevelopments costs for the production of new products or parts are recognized as assets only if the costs can be reliably determined, the Group has the intention and resources to com-plete them, the technical feasibility of completing them is such that they will be available for use, and the expected volumes and prices indicate that the costs incurred for development will generate future economic benefits.Capitalized development costs include only those expenses that can be directly attributed to the development process.Capitalized development costs are amortized on a systematic basis, starting from the commencement of production and lasting the length of the product or process\u2019s estimated life, generally ranging between three and five years. All other devel-opment costs are expensed to the income statement as incurred.Research costs are also expensed to the income statement as incurred.TrademarksThese are costs of long-term benefit incurred for the protec-tion and dissemination of the Group\u2019s trademarks. Such costs are recognized as an asset when, in accordance with IAS 38 - Intangible assets, it is probable that the future economic bene-fits attributable to the asset\u2019s use will flow to the Group and when its cost can be reliably measured.These assets are valued at purchase or production cost and amortized, if they have a finite life, on a straight-line basis over their estimated useful life, generally between 10 and 20 years.Trademarks with an indefinite useful life are not amortized but tested for impairment once a year or more often, any time there are signs that their value might be impaired.Other intangible assetsOther intangible assets purchased or internally generated are recognized as assets in accordance with IAS 38 - Intangible assets, when it is probable that the future economic benefits attributable to their use will flow to the Group and when the cost of the asset can be reliably measured.These assets are valued at purchase or production cost and amortized, if they have a finite life, on a straight-line basis over their estimated useful life, generally between 3 and 20 years.Property, plant and equipmentLand, property, plant and machineryBuildings, plant and equipment owned by the Group are re-corded at purchase or production cost and systematically de-preciated over their residual useful lives. The land pertaining to buildings is not depreciated. The cost of assets qualifying for capitalization also includes the borrowing costs directly attrib-utable to the acquisition, construction or production of the asset itself. Subsequent expenditure is capitalized only if it in-creases the future economic benefits flowing to the enterprise. Ordinary and/or routine maintenance and repair costs are di-rectly expensed to the income statement when incurred. Costs relating to the expansion, modernization or improvement of owned or leased assets are capitalized to the extent that they qualify for separate classification as an asset or part of an asset under the component approach, whereby every compo-nent whose useful life and related value can be autonomously assessed must be treated individually.All other costs are expensed to profit and loss as incurred.The useful lives, estimated by the Group for its various catego-ries of property, plant and equipment, are as follows:Industrial buildings 10 - 33 yearsPlant and machinery 5 - 18 yearsIndustrial and commercial equipment 3-10 yearsOther 3-10 yearsRight-of-use assetsIn accordance with IFRS 16 the right-of-use asset is valued as the present value of future payments (discounted at the inter-est rate implicit in the lease, if easily determined, or alternative-ly, at the incremental borrowing rate, namely the interest rate that the lessee must pay over the term of the loan and similar guarantees), the initial costs incurred directly by the lessee, any advance lease payments made and the estimate of the costs for elimination, removal and restoration. The asset value is systematically depreciated. Impairment of non-financial assetsThe Group tests, at least once a year, whether the book value of intangible assets and property, plant and equipment report-ed in the financial statements has suffered any impairment loss. If there is evidence of impairment, book value is written down to the related recoverable amount.If it is not possible to estimate the recoverable amount of an individual asset, the Group assesses whether the cash-gener-ating unit to which it belongs is impaired.In the case of goodwill and other intangible assets with indefi-nite useful lives, the impairment test must be carried out at least once a year, and whenever there is an indication that an intangible asset may be impaired.InventoriesInventories of raw materials, semi-finished and finished prod-ucts are valued at the lower of cost and market value. Cost is determined using the weighted average cost method. The val-uation of inventories includes the direct cost of materials and labour as well as indirect (variable and fixed) costs. Allowances for obsolete and slow-moving goods are calculat-ed for materials and finished products, taking account of their future expected use and net realizable value which corre-sponds to the estimated selling price in the ordinary course of business net the estimated costs of completion and the esti-mated costs necessary to make the sale.Financial instrumentsFinancial assetsUpon initial recognition, financial assets are classified based on the measurement methods used in one of the three catego-ries found in IFRS 9. The classification depends on the nature of the contractual cash flows and the business model the company uses to manage them.The business model refers to the way in which the cash flows are generated which can be from the collection of contractual cash flows, the sale of assets or both. A financial asset is classified among the assets valued at amortized cost if held as part of a business model where the objective is collecting contractual cash flows represented solely by payments to be made on certain dates, principal and interest. The valuation is made based on the effective interest rate.A financial asset is classified among the assets valued at fair value with changes passing through the comprehensive income statement if held as part of a business model where the objective is collecting contractual cash flows and selling the assets and the cash flows contemplated under the con-tract refer solely to payments of principal and interest made on predetermined dates. For the assets included in this category, the interest receivable, the foreign exchange differences and losses in value are recognized in the income statement for the reporting period; other changes in fair value are recognized in the comprehensive income statement. Upon elimination, the cumulative change in fair value recognized as other compre-hensive income is released to the income statement.During the initial recognition phase, equity instruments may be included in the category of assets measured at fair value with changes recognized in the comprehensive income statement.The category of assets valued at fair value with changes rec-ognized in the income statement include assets held for trad-ing, namely acquired to be sold in the short-term, and the assets designated as such. Upon initial recognition, equity in-struments not held for trading may be included in the category of financial instruments measured at fair value with changes recognized in the comprehensive income statement. This choice may be made for each asset and is irrevocable.The trade receivables without a significant financing compo-nent are valued at the transaction price determined in accord-ance with IFRS 15.Financial liabilitiesFinancial liabilities refer mainly to loans valued at amortized cost based on the effective interest rate.Financial liabilities are derecognized when the underlying obli-gation is extinguished, cancelled or fulfilled.Trade payables are recognized initially at present value and redetermined using the amortized cost method. Trade and other payables are reported as current liabilities unless pay-ment is expected to be made more than twelve months after the reporting date.Lease liabilitiesLease liabilities equal the present value of the payments paya-ble and not yet paid at the date of the financial statements dis-counted at the interest rate implicit in the lease, if easily deter-mined, or alternatively, at the incremental borrowing rate which is the rate that the lessee would pay on a loan with a similar duration and conditions. In the event the lease term, purchase options, the residual value guaranteed, or variable payments based on indices or rates, are redetermined, the lease liability is remeasured.DerivativesDerivatives are used solely for hedging purposes, in order to reduce exposures to currency and interest rate risk. As allowed by IFRS9, derivatives may qualify for special hedge accounting only when, at the inception of the hedge, the following condi-tions are satisfied:\u2022 there is a formal designation that the instrument is a hedg-ing one;\u2022 there is formal documentation of the hedging relationship, which is expected to be highly effective;\u2022 the effectiveness of the hedge can be reliably measured;\u2022 the hedge is highly effective throughout the different finan-cial reporting periods for which it was designated.In accordance with IFRS 9, all derivatives are measured at fair value determined based on the present value of the difference between the contractual forward exchange rate and the market forward exchange rate at the date of the financial report.If financial instruments qualify for hedge accounting, the fol-lowing treatment applies:Fair value hedge - If a derivative instrument is designated as a hedge of the exposure to changes in the fair value of a recog-nized asset or liability that is attributable to a particular risk that will affect profit or loss, the gain or loss from remeasuring the hedging instrument at fair value should be recognized in the income statement. The gain or loss on the hedged item at-tributable to the hedged risk adjusts the carrying amount of the hedged item and is recognized in the income statement.Cash flow hedge - If a derivative instrument is designated as a hedge of the exposure to variability in cash flows attributable to a highly probable forecasted transaction which could affect profit or loss, the effective portion of the gains or losses on the hedging instrument is recognized directly in the statement of comprehensive income. The effective portion of the cumula-tive gains or losses is reversed from net equity and reclassi-fied to profit or loss in the same period in which the hedged transaction is reported in the income statement. Gains or losses associated with a hedge or part thereof that has become ineffective are reclassified to the income statement. If a hedging instrument or hedging relationship is terminated, but the transaction being hedged has not yet occurred, the cu-mulative gains and losses, recorded up until then in the state-ment of comprehensive income, are reported in the income statement at the same time that the hedged transaction occurs. If the hedged transaction is no longer expected to occur, the unrealized gains or losses reported directly in net equity are immediately reclassified to the income statement. If hedge accounting cannot be applied, the gains or losses aris-ing from the fair value measurement of the derivatives are transferred immediately to the income statement.Net investment hedge - Hedges of a net investment in a for-eign 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 statement of comprehensive income, while any gains or losses relating to the ineffective portion are recognized in the statement of profit or loss. On disposal of the foreign operation, the cumulative value of any such gains or losses recorded in equity is transferred to the statement of profit or loss.Factoring of trade receivablesThe Group factors some of its trade receivables. Trade receiv-ables factored without recourse, resulting in the substantial transfer of the related risks and rewards, are derecognized from the financial statements at the time of their transfer. Re-ceivables whose factoring does not result in the substantial transfer of the related risks and rewards, are retained in the statement of financial position.The Group has entered an agreement for the factoring of trade receivables, involving the revolving monthly transfer of a port-folio of trade receivables without recourse.The receivables are assigned without recourse to a bank, which then transfers them to a special purpose entity which fi-nances the purchase of the receivables by issuing as-set-backed securities; the repayment of these securities, placed on the market and all subscribed by institutional inves-tors, as well as the related interest, depends on the cash flow generated by the portfolio of securitized receivables.The Group subscribes a limited quantity of securities without, however, prejudice to the requirements for the derecognition of the receivables. Receivables are sold at their face value, less a discount that reflects credit risk and the transaction\u2019s finan-cial costs. The Group acts as servicer for the special purpose entity. The contractual terms of this operation involve the sub-stantial transfer of the risks and rewards relating to the secu-ritized receivables and their consequent derecognition from the financial statements.Employee benefitsPension and other incentive plansNet obligations relating to employee benefit plans, chiefly the provision for severance indemnities (for the portion retained in Group companies) and pension funds, are recorded at the ex-pected future value of the benefits that will be received and which have accrued at the reporting date. The Group\u2019s obliga-tion to finance defined benefit pension funds and the annual cost reported in the income statement are determined by inde-pendent actuaries using the projected unit credit method. Equity based compensationThe Group grants additional benefits to a limited number of executives and key resources under the form of stock options. Based on IFRS 2 Share-based payment, the current value of the stock option determined on the grant date is recognized on a straight-line basis in the income statement as a payroll cost in the period between the grant date and the date on which the rights granted to employees, executives and others who rou-tinely provide services to one or more Group companies par-ties fully vest, with a corresponding increase in equity.At each reporting date the Group will revise estimates based on the number of options that are expected to vest, independ-ent of the fair value of the shares. Any differences with respect to the original estimates will be recognized in the consolidated income statement with a corresponding increase in equity.Once the stock option is exercised, the amounts received by the employee, net of transactions costs, will be credited to the Treas-ury stock reserve at the average price of the stocks on hand or, if the treasury stocks are not available, added to the share capital in the amount of the nominal value of the shares issued. The re-mainder will be recognized in the share premium reserve.The fair value of the stock options is determined using the Black-Scholes model which takes into account the conditions for the exercise of the right, the current share price, expected volatility, a risk free interest rate, as well as the non-vesting conditions.The fair value of the stock options is included within the Stock option Reserve.The dilutive effect of unexercised options will be reflected in the calculation of the diluted earnings per share.Provisions for contingencies and other chargesThe Group recognizes provisions for contingencies and charg-es when (i) it has a present obligation (legal or constructive) to third parties (ii) it is probable that the Group will need to employ resources to settle the obligation and (iii) a reliable es-timate can be made of the amount of the obligation. Changes in these estimates are reflected in the income statement in the period in which they occur (also see the comments in the para-graph on \u201cEstimates and assumptions\u201d).Where the effect of the time value of money is material and the date of extinguishing the liability can be reasonably estimated, provisions are stated at the present value of the expected ex-penditure, using a discount rate that reflects current market assessments of the time value of money and the risks specific to the liability. An increase in the amount of the provision for the time value of money is accounted for in interest expense. Contingencies for which the probability of a liability is not prob-able but neither remote are disclosed in the notes but no provi-sion is recognized.Recognition of revenuesThe item \u201cRevenues\u201d includes the consideration received for goods sold to customers and services rendered.Revenues represent the consideration owed in exchange for the transfer of goods and/or services to the customer, exclud-ing amounts received on behalf of third parties. The Group recognizes the revenue when contractual obligations are ful-filled, namely when control of the good or service is trans-ferred to the customer.Based on the five-step model introduced in IFRS 15, the Group recognizes revenue after the following requirements have been met:a) the parties have approved the contract (in writing, orally or in accordance with other common commercial practices) and are committed to fulfilling the respective performance obligations; an agreement between the parties which cre-ates rights and obligations regardless of the form of the agreement has, therefore, been created;b) the rights of each of the parties in relation to the goods and services to be transferred can be identified;c) the payment terms for the goods or services to be trans-ferred can be identified;d) the contract has commercial substance;e) it is probable that the Group will receive the consideration to which it is entitled in exchange for the goods or services transferred to the customer.If the consideration referred to in the contract has a variable component, the Group will estimate the amount of the consid-eration it will be entitled to in exchange for the goods or servic-es transferred to the customer.Based on the contractual terms and conditions, the clients may be entitled to return goods; in this instance, at the time of sale a liability is recognized, as well as an adjustment to reve-nues for the merchandise that could be returned. The Group recognizes the estimated product returns by reducing reve-nues and deducting their cost from the cost of goods sold. In accordance with IFRS 15, the amount corresponding to the cost of returns is recognized in \"Inventories\".The Group typically provides warranties for the repair of de-fects existing at the time of the sale, in accordance with the law. These warranties, which are standard warranties on quali-ty, are accounted for in accordance with IAS 37 - Provisions, Contingent Liabilities and Contingent Assets.\u201cOther revenues\u201d includes the amounts received by the Group in the form of public contributions. These contributions, recog-nized when it is reasonably certain that the qualifying condi-tions will be met and the contributions will be received, are in-cluded systematically in the net result relative to the years in which the costs that the contributions are intended to com-pensate are expensed. The public contributions recognized in capital accounts are recognized in the statement of financial position as deferred income.Costs and expensesCosts and expenses are accounted for on an accrual basis.DividendsDividend distributions represent a movement in net equity in the period in which they are declared by the shareholders in general meeting.Dividends received are reported when the Group is entitled to receive the payment.Income taxesIncome taxes include all the taxes calculated on the Group\u2019s taxable income. Income taxes are recorded in the income statement, except for those relating to items directly debited or credited to net equity, in which case the associated tax is rec-ognized directly in net equity.Deferred taxes are provided on the basis of global provision for the liability. They are calculated on all the temporary differenc-es emerging between the tax base of an asset or liability and their book value in the consolidated financial statements, except for goodwill whose amortization cannot be deducted for tax purposes and those differences arising from invest-ments in subsidiaries which are not expected to reverse in the foreseeable future. Deferred tax assets on the carryforward of unused tax losses and tax credits are recognized to the extent that it is probable that future taxable profit will be available against which these can be recovered. Current and deferred tax assets and liabilities may be offset when the income taxes are charged by the same tax authority and when there is a legal right of setoff. Deferred tax assets and liabilities are cal-culated at the tax rates that are expected to apply to the period when the asset is realized or the liability settled, based on tax rates and laws applying in the countries where the Group operates.Deferred taxes on reserves of distributable earnings in subsidi-aries are recognized only if it is probable that such reserves will be distributed.Any uncertainty regarding tax treatments is considered in the tax calculation in accordance with the recommendations of IFRIC 23 Uncertainty over Income Tax Treatments.Earnings per shareBasic earnings per share are calculated by dividing the earn-ings for the year payable to the parent company\u2019s ordinary shareholders by the weighted average number of ordinary shares outstanding during the period.The diluted earnings per share are calculated by dividing the earnings for the year payable to the parent company\u2019s ordinary shareholders by the weighted average number of ordinary shares outstanding during the period and the shares potential-ly issued following the exercise of assigned stock options.Estimates and assumptionsThis financial statement, prepared in accordance with IFRS, contain estimates and assumptions made by the Group relat-ing to assets and liabilities, costs, revenues and contingent lia-bilities at the reporting date. These estimates are based on past experience and assumptions considered to be reasona-ble and realistic, based on the information available at the time of making the estimate.The assumptions relating to these estimates are periodically reviewed and the related effects reflected in the income state-ment in the same period: actual results could therefore differ from these estimates. The following paragraphs discuss the principal assumptions used for estimation purposes and the principal sources of un-certainty, that have a risk of causing material adjustment to the book value of assets and liabilities in the future; details of book value can be found in the individual explanatory notes.Allowance for doubtful accountsThe allowance for doubtful accounts reflects estimated losses on trade receivables recognized in the financial statements and not covered by insurance. The losses equal the difference between the amounts the Group is entitled to receive based on contracts with customers and the estimated inflows.Changes in the economic environment could cause the perfor-mance of some of the Group\u2019s customers to deteriorate, with an impact on the recoverability of the uninsured portion of trade receivables.Recoverable amount of non-current assetsThe Group reviews all its non-financial assets at every report-ing date for any evidence of impairment. Goodwill and other intangible assets with an indefinite useful life are tested annu-ally for impairment. The recoverable amount of non-current assets is usually determined with reference to value in use, being the present value of the future cash flows expected from an asset\u2019s continuing use. The forecast cash flows are deter-mined based on the information available when estimated based on the opinion of the directors regarding the future per-formance of certain variables - such as prices and the subse-quent revenues, costs, increase in demand, production flows - which are discounted at a risk-adjusted rate. The test also involves selecting a suitable discount rate for calculating the present value of the expected cash flows.Employee benefitsThe cost of defined benefit pension plans is determined using actuarial valuations, based on statistical assumptions regard-ing discount rates, expected returns on investments, future salary growth and mortality rates.The Group believes the rates estimated by its actuaries to be reasonable for the year-end valuations, but cannot rule out that large future changes in rates could have a material impact on the liabilities recognized in the financial statements.Deferred tax assets recoverabilityDeferred tax assets include those relating to carryforward tax losses to the extent that there is likely to be sufficient future taxable profit against which such losses can be recovered.Management must use their discretion when determining the amount of deferred tax assets for recognition in the financial statements. They must estimate the likely timing of reversal and the amount of future taxable profit, as well as the future tax planning strategy.Provisions for contingenciesThe Group makes several provisions against disputes or risks of various kinds relating to different matters falling under the jurisdiction of different countries. The determination, probabili-ty and quantification of these liabilities involve estimation pro-cesses that are often very complex, for which management uses all the available information at the date of preparing the financial statements, including with the support of legal and tax advisors.Product warranty provisionsThe Group makes provisions for the estimated cost of product warranties. Management establishes the amount of these pro-visions on the basis of past trends relating to the frequency and average cost of under-warranty repairs and replacement.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__20": {
"value": "The accounting policies and measurement bases used for pre-paring the financial statements at 31 December 2024 are the same as those used for preparing the consolidated financial statements at 31 December 2023, except for certain new amendments and accounting standards described below, whose adoption did not have significant impacts on the pres-ent financial statement.The consolidated financial statements at 31 December 2024 comprise the income statement, the statement of comprehen-sive income, the statement of financial position, the statement of cash flows, the statement of changes in net equity and the explanatory notes.The statement of financial position has been prepared on a basis that distinguishes between current and non-current items. The income statement has been presented on the basis of the nature of expense, being a suitable structure for faithfully rep-resenting the Group\u2019s performance.The statement of cash flows has been prepared using the \u201cin-direct method\u201d allowed by IAS 7.The present financial statements and notes are presented in Euro, with all amounts rounded to thousands of Euro, unless otherwise indicated.The financial statements used for consolidation purposes are the separate ones for the year ended 31 December 2024 pre-pared by the Boards of Directors, or other Corporate bodies, of the individual companies, adjusted if necessary for the Group\u2019s accounting policies and measurement bases.The financial statements have been prepared on the historical cost basis, adjusted as required for the valuation of certain fi-nancial instruments.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__21": {
"value": "They have also been prepared on a going concern basis. De-spite the unpredictability of potential macroeconomic develop-ments and the inflationary tensions, the Group, in light of its fi-nancial strength and the actions taken to limit risks and its business model, believes that there are no elements which could compromise the business as a going concern as per paragraph 25 of IAS 1.The risks and uncertainties relating to the business are de-scribed in a specific section of the Report on operations. The methods used by the Group to manage financial risks are described in note 42. Risk management of the present Explan-atory notes.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGoingConcernExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__22": {
"value": "The present annual financial report have been issued in the ESEF format (European Single Electronic Format); it was ap-proved and authorized for publication by the Board of Directors on 14 March 2025.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__24": {
"value": "Subsidiaries companiesThese are companies over which the Group exercises control. Such control exists when the Group has the power, directly or indirectly, to govern the financial and operating policies of an enterprise so as to obtain benefits from its activities. The fi-nancial statements of subsidiaries are consolidated starting from the date that control is assumed with the line-by-line method.The portion of equity and results attributable to minority shareholders is shown separately in the consolidated state-ment of financial position and income statement respectively.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__25": {
"value": "The Group determines whether a transaction is a business combination by applying the definition which requires that the assets acquired and liabilities assumed constitute a business. A business is an integrated set of activities and assets that can provide a return to investors in the form of dividends, interests or other economic benefits. A business activity includes fac-tors and processes, which together contribute to the genera-tion of an output. In accordance with IFRS 3, business combi-nations are accounted for using the acquisition method.Under this method, the consideration transferred for the acqui-sition is measured at fair value except for the following items which are measured in accordance with the applicable stand-ard: i) deferred tax assets and liabilities, ii) assets and liabilities for employee benefits and iii) assets held for sale. In the case in which it is only possible to estimate provisionally the fair value of assets, liabilities and potential liabilities, the business combination is accounted for on the basis of provisional esti-mated values. Any subsequent corrections required following completion of the valuation process are accounted for within 12 months of the acquisition date.The fair value measurement includes any elements linked to the outcome of future events. In the event of business combi-nations achieved in stages, the value of the minority interest is redetermined based on the fair value of the assets acquired at the time of the transaction and any gains or losses are recog-nized in the profit (loss) for the year. The acquisition of further shares in subsidiaries and any sale of shares which do not lead to loss of control are accounted for as transactions between shareholders; as such, the ac-counting effects of such operations are reflected directly in the Group equity.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__26": {
"value": "Associated companiesThese are companies in which the Group has a significant in-fluence over their financial and operating policies and which are neither subsidiaries nor joint ventures. The consolidated fi-nancial statements show the Group\u2019s portion of results of the associated companies, accounted for using the equity method, starting from the date when the significant influence began.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociates",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__27": {
"value": "Joint venturesThese are companies over whose activities the Group has joint control, as established by contract. The consolidated financial statements include the Group\u2019s share of the results of joint ventures, reported using the equity method as per IAS 28 - In-vestment in associates and joint ventures amended.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentsInJointVentures",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__23": {
"value": "Consolidation of foreign companiesAll the assets and liabilities of foreign companies that report in a currency other than the Euro and which fall within the scope of consolidation are translated into Euro using the exchange rate ruling at the end of the reporting period (current exchange rate method). Income and costs are translated using average rates for the reporting period. The exchange differences aris-ing from this method are booked directly to the \u201ccurrency translation reserve\u201d under consolidated net equity.Transactions in foreign currencyTransactions in foreign currency are recorded at the exchange rate in force on the transaction date. Monetary assets and lia-bilities in foreign currency are translated using the exchange rate ruling on the reporting date. Exchange differences arising on the extinguishment of monetary items or their translation at different rates to those used for their translation upon initial recognition or in previous financial statements are recorded in the income statement.Exchange differences arising on monetary items that are ef-fectively part of the Group\u2019s net investment in foreign opera-tions are classified in net equity until the investment\u2019s dispos-al, at which time such differences are recognized in the income statement as income or expenses.Translation of balances in foreign currenciesThe following exchange rates have been used:31.12.2024 31.12.2023 Variazione %Period-end Average Period-end Average Period-end Average exchange rate (*)exchange rate (*)exchange rate (*)exchange rate (*)exchange rate (*)exchange rate (*)US dollar USD 1.0389 1.0824 1.1050 1.0813 (5.98%) 0.10%British pound GBP 0.8292 0.8466 0.8691 0.8698 (4.59%) (2.66%)Hong Kong dollar HKD 8.0686 8.4454 8.6314 8.4650 (6.52%) (0.23%)Chinese renminbi (Yuan) CNY 7.5 833 7.7875 7.8509 7.6600 (3.41%) 1.66%Australian dollar AUD 1.6772 1.6397 1.6263 1.6288 3.13% 0.67%Canadian dollar CAD 1.4948 1.4821 1.4642 1.4595 2.09% 1.55%Japanese yen JPY 163.0600 163.8519 156.3300 151.9903 4.30% 7.80%Malaysian ringgit MYR 4.6454 4.9503 5.0775 4.9320 (8.51%) 0.37%New Zealand dollar NZD 1.8532 1.7880 1.7504 1.7622 5.87% 1.46%Polish zloty PLN 4.2750 4.3058 4.3395 4.5420 (1.49%) (5.20%)South African rand ZAR 19.6188 19.8297 20.3477 19.9551 (3.58%) (0.63%)Singapore dollar SGD 1.4164 1.4458 1.4591 1.4523 (2.93%) (0.45%)Russian rouble RUB 106.1028 100.2028 99.1919 92.2731 6.97% 8.59%Turkish lira TRY 36.7372 35.5734 32.6531 25.7597 12.51% 38.10%Czech koruna CZK 25.1850 25.1198 24.7240 24.0043 1.86% 4.65%Swiss franc CHF 0.9412 0.9526 0.9260 0.9718 1.64% (1.98%)Brazilian real BRL 6.4253 5.8283 5.3618 5.4010 19.83% 7.91%Ukrainian hryvnia UAH 43.6855 43.4901 41.9960 39.5400 4.02% 9.99%Romanian leu RON 4.9743 4.9746 4.9756 4.9467 (0.03%) 0.56%South Korean won KRW 1,532.1500 1,475.4000 1,433.6600 1,412.8800 6.87% 4.43%Chilean peso CLP 1,033.7600 1,020.6600 977.0700 908.2000 5.80% 12.38%Hungarian forint HUF 411.3500 395.3039 382.8000 381.8527 7.46% 3.52%Swedish krona SEK 11.4590 11.4325 11.0960 11.4788 3.27% (0.40%)Mexican peso MXN 21.5504 19.8314 18.7231 19.1830 15.10% 3.38%Tenge Kazakistan KZT 544.9800 507.9100 502.4800 493.5700 8.46% 2.91%(*) Source: Bank of Italy. Source for RUB period-end and average exchange rate of year 2024 and 2023: Central Bank of Russia.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__28": {
"value": "Intangible assetsGoodwillBusiness combinations, whereby control of a company/entity is acquired, are accounted for in accordance with the purchase method, meaning that the assets and liabilities acquired are ini-tially measured at their market value on the acquisition date.The difference between the cost of acquisition and the Group\u2019s share of net assets acquired is attributed to specific assets and liabilities to the extent of their acquisition date fair value; any remaining difference is allocated to goodwill, if positive, and to the income statement if negative. The cost of acquisi-tion is determined on the basis of the acquisition date fair value of the assets transferred, the liabilities assumed, the equity instruments issued and any other related amount.Goodwill is not amortized but tested for impairment once a year or more often if specific events or changed circumstanc-es indicate that its value may have been impaired. This proce-dure is in accordance with IAS 36 - Impairment of assets. After initial recognition, goodwill is carried at cost less any accumu-lated impairment losses.Research and development costsDevelopments costs for the production of new products or parts are recognized as assets only if the costs can be reliably determined, the Group has the intention and resources to com-plete them, the technical feasibility of completing them is such that they will be available for use, and the expected volumes and prices indicate that the costs incurred for development will generate future economic benefits.Capitalized development costs include only those expenses that can be directly attributed to the development process.Capitalized development costs are amortized on a systematic basis, starting from the commencement of production and lasting the length of the product or process\u2019s estimated life, generally ranging between three and five years. All other devel-opment costs are expensed to the income statement as incurred.Research costs are also expensed to the income statement as incurred.TrademarksThese are costs of long-term benefit incurred for the protec-tion and dissemination of the Group\u2019s trademarks. Such costs are recognized as an asset when, in accordance with IAS 38 - Intangible assets, it is probable that the future economic bene-fits attributable to the asset\u2019s use will flow to the Group and when its cost can be reliably measured.These assets are valued at purchase or production cost and amortized, if they have a finite life, on a straight-line basis over their estimated useful life, generally between 10 and 20 years.Trademarks with an indefinite useful life are not amortized but tested for impairment once a year or more often, any time there are signs that their value might be impaired.Other intangible assetsOther intangible assets purchased or internally generated are recognized as assets in accordance with IAS 38 - Intangible assets, when it is probable that the future economic benefits attributable to their use will flow to the Group and when the cost of the asset can be reliably measured.These assets are valued at purchase or production cost and amortized, if they have a finite life, on a straight-line basis over their estimated useful life, generally between 3 and 20 years.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__29": {
"value": "GoodwillBusiness combinations, whereby control of a company/entity is acquired, are accounted for in accordance with the purchase method, meaning that the assets and liabilities acquired are ini-tially measured at their market value on the acquisition date.The difference between the cost of acquisition and the Group\u2019s share of net assets acquired is attributed to specific assets and liabilities to the extent of their acquisition date fair value; any remaining difference is allocated to goodwill, if positive, and to the income statement if negative. The cost of acquisi-tion is determined on the basis of the acquisition date fair value of the assets transferred, the liabilities assumed, the equity instruments issued and any other related amount.Goodwill is not amortized but tested for impairment once a year or more often if specific events or changed circumstanc-es indicate that its value may have been impaired. This proce-dure is in accordance with IAS 36 - Impairment of assets. After initial recognition, goodwill is carried at cost less any accumu-lated impairment losses.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__30": {
"value": "Research and development costsDevelopments costs for the production of new products or parts are recognized as assets only if the costs can be reliably determined, the Group has the intention and resources to com-plete them, the technical feasibility of completing them is such that they will be available for use, and the expected volumes and prices indicate that the costs incurred for development will generate future economic benefits.Capitalized development costs include only those expenses that can be directly attributed to the development process.Capitalized development costs are amortized on a systematic basis, starting from the commencement of production and lasting the length of the product or process\u2019s estimated life, generally ranging between three and five years. All other devel-opment costs are expensed to the income statement as incurred.Research costs are also expensed to the income statement as incurred.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__31": {
"value": "TrademarksThese are costs of long-term benefit incurred for the protec-tion and dissemination of the Group\u2019s trademarks. Such costs are recognized as an asset when, in accordance with IAS 38 - Intangible assets, it is probable that the future economic bene-fits attributable to the asset\u2019s use will flow to the Group and when its cost can be reliably measured.These assets are valued at purchase or production cost and amortized, if they have a finite life, on a straight-line basis over their estimated useful life, generally between 10 and 20 years.Trademarks with an indefinite useful life are not amortized but tested for impairment once a year or more often, any time there are signs that their value might be impaired.Other intangible assetsOther intangible assets purchased or internally generated are recognized as assets in accordance with IAS 38 - Intangible assets, when it is probable that the future economic benefits attributable to their use will flow to the Group and when the cost of the asset can be reliably measured.These assets are valued at purchase or production cost and amortized, if they have a finite life, on a straight-line basis over their estimated useful life, generally between 3 and 20 years.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__32": {
"value": "Land, property, plant and machineryBuildings, plant and equipment owned by the Group are re-corded at purchase or production cost and systematically de-preciated over their residual useful lives. The land pertaining to buildings is not depreciated. The cost of assets qualifying for capitalization also includes the borrowing costs directly attrib-utable to the acquisition, construction or production of the asset itself. Subsequent expenditure is capitalized only if it in-creases the future economic benefits flowing to the enterprise. Ordinary and/or routine maintenance and repair costs are di-rectly expensed to the income statement when incurred. Costs relating to the expansion, modernization or improvement of owned or leased assets are capitalized to the extent that they qualify for separate classification as an asset or part of an asset under the component approach, whereby every compo-nent whose useful life and related value can be autonomously assessed must be treated individually.All other costs are expensed to profit and loss as incurred.The useful lives, estimated by the Group for its various catego-ries of property, plant and equipment, are as follows:Industrial buildings 10 - 33 yearsPlant and machinery 5 - 18 yearsIndustrial and commercial equipment 3-10 yearsOther 3-10 years",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__33": {
"value": "Right-of-use assetsIn accordance with IFRS 16 the right-of-use asset is valued as the present value of future payments (discounted at the inter-est rate implicit in the lease, if easily determined, or alternative-ly, at the incremental borrowing rate, namely the interest rate that the lessee must pay over the term of the loan and similar guarantees), the initial costs incurred directly by the lessee, any advance lease payments made and the estimate of the costs for elimination, removal and restoration. The asset value is systematically depreciated.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__34": {
"value": "Impairment of non-financial assetsThe Group tests, at least once a year, whether the book value of intangible assets and property, plant and equipment report-ed in the financial statements has suffered any impairment loss. If there is evidence of impairment, book value is written down to the related recoverable amount.If it is not possible to estimate the recoverable amount of an individual asset, the Group assesses whether the cash-gener-ating unit to which it belongs is impaired.In the case of goodwill and other intangible assets with indefi-nite useful lives, the impairment test must be carried out at least once a year, and whenever there is an indication that an intangible asset may be impaired.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__35": {
"value": "InventoriesInventories of raw materials, semi-finished and finished prod-ucts are valued at the lower of cost and market value. Cost is determined using the weighted average cost method. The val-uation of inventories includes the direct cost of materials and labour as well as indirect (variable and fixed) costs. Allowances for obsolete and slow-moving goods are calculat-ed for materials and finished products, taking account of their future expected use and net realizable value which corre-sponds to the estimated selling price in the ordinary course of business net the estimated costs of completion and the esti-mated costs necessary to make the sale.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__36": {
"value": "Financial instrumentsFinancial assetsUpon initial recognition, financial assets are classified based on the measurement methods used in one of the three catego-ries found in IFRS 9. The classification depends on the nature of the contractual cash flows and the business model the company uses to manage them.The business model refers to the way in which the cash flows are generated which can be from the collection of contractual cash flows, the sale of assets or both. A financial asset is classified among the assets valued at amortized cost if held as part of a business model where the objective is collecting contractual cash flows represented solely by payments to be made on certain dates, principal and interest. The valuation is made based on the effective interest rate.A financial asset is classified among the assets valued at fair value with changes passing through the comprehensive income statement if held as part of a business model where the objective is collecting contractual cash flows and selling the assets and the cash flows contemplated under the con-tract refer solely to payments of principal and interest made on predetermined dates. For the assets included in this category, the interest receivable, the foreign exchange differences and losses in value are recognized in the income statement for the reporting period; other changes in fair value are recognized in the comprehensive income statement. Upon elimination, the cumulative change in fair value recognized as other compre-hensive income is released to the income statement.During the initial recognition phase, equity instruments may be included in the category of assets measured at fair value with changes recognized in the comprehensive income statement.The category of assets valued at fair value with changes rec-ognized in the income statement include assets held for trad-ing, namely acquired to be sold in the short-term, and the assets designated as such. Upon initial recognition, equity in-struments not held for trading may be included in the category of financial instruments measured at fair value with changes recognized in the comprehensive income statement. This choice may be made for each asset and is irrevocable.The trade receivables without a significant financing compo-nent are valued at the transaction price determined in accord-ance with IFRS 15.Financial liabilitiesFinancial liabilities refer mainly to loans valued at amortized cost based on the effective interest rate.Financial liabilities are derecognized when the underlying obli-gation is extinguished, cancelled or fulfilled.Trade payables are recognized initially at present value and redetermined using the amortized cost method. Trade and other payables are reported as current liabilities unless pay-ment is expected to be made more than twelve months after the reporting date.Lease liabilitiesLease liabilities equal the present value of the payments paya-ble and not yet paid at the date of the financial statements dis-counted at the interest rate implicit in the lease, if easily deter-mined, or alternatively, at the incremental borrowing rate which is the rate that the lessee would pay on a loan with a similar duration and conditions. In the event the lease term, purchase options, the residual value guaranteed, or variable payments based on indices or rates, are redetermined, the lease liability is remeasured.DerivativesDerivatives are used solely for hedging purposes, in order to reduce exposures to currency and interest rate risk. As allowed by IFRS9, derivatives may qualify for special hedge accounting only when, at the inception of the hedge, the following condi-tions are satisfied:\u2022 there is a formal designation that the instrument is a hedg-ing one;\u2022 there is formal documentation of the hedging relationship, which is expected to be highly effective;\u2022 the effectiveness of the hedge can be reliably measured;\u2022 the hedge is highly effective throughout the different finan-cial reporting periods for which it was designated.In accordance with IFRS 9, all derivatives are measured at fair value determined based on the present value of the difference between the contractual forward exchange rate and the market forward exchange rate at the date of the financial report.If financial instruments qualify for hedge accounting, the fol-lowing treatment applies:Fair value hedge - If a derivative instrument is designated as a hedge of the exposure to changes in the fair value of a recog-nized asset or liability that is attributable to a particular risk that will affect profit or loss, the gain or loss from remeasuring the hedging instrument at fair value should be recognized in the income statement. The gain or loss on the hedged item at-tributable to the hedged risk adjusts the carrying amount of the hedged item and is recognized in the income statement.Cash flow hedge - If a derivative instrument is designated as a hedge of the exposure to variability in cash flows attributable to a highly probable forecasted transaction which could affect profit or loss, the effective portion of the gains or losses on the hedging instrument is recognized directly in the statement of comprehensive income. The effective portion of the cumula-tive gains or losses is reversed from net equity and reclassi-fied to profit or loss in the same period in which the hedged transaction is reported in the income statement. Gains or losses associated with a hedge or part thereof that has become ineffective are reclassified to the income statement. If a hedging instrument or hedging relationship is terminated, but the transaction being hedged has not yet occurred, the cu-mulative gains and losses, recorded up until then in the state-ment of comprehensive income, are reported in the income statement at the same time that the hedged transaction occurs. If the hedged transaction is no longer expected to occur, the unrealized gains or losses reported directly in net equity are immediately reclassified to the income statement. If hedge accounting cannot be applied, the gains or losses aris-ing from the fair value measurement of the derivatives are transferred immediately to the income statement.Net investment hedge - Hedges of a net investment in a for-eign 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 statement of comprehensive income, while any gains or losses relating to the ineffective portion are recognized in the statement of profit or loss. On disposal of the foreign operation, the cumulative value of any such gains or losses recorded in equity is transferred to the statement of profit or loss.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__37": {
"value": "Financial assetsUpon initial recognition, financial assets are classified based on the measurement methods used in one of the three catego-ries found in IFRS 9. The classification depends on the nature of the contractual cash flows and the business model the company uses to manage them.The business model refers to the way in which the cash flows are generated which can be from the collection of contractual cash flows, the sale of assets or both. A financial asset is classified among the assets valued at amortized cost if held as part of a business model where the objective is collecting contractual cash flows represented solely by payments to be made on certain dates, principal and interest. The valuation is made based on the effective interest rate.A financial asset is classified among the assets valued at fair value with changes passing through the comprehensive income statement if held as part of a business model where the objective is collecting contractual cash flows and selling the assets and the cash flows contemplated under the con-tract refer solely to payments of principal and interest made on predetermined dates. For the assets included in this category, the interest receivable, the foreign exchange differences and losses in value are recognized in the income statement for the reporting period; other changes in fair value are recognized in the comprehensive income statement. Upon elimination, the cumulative change in fair value recognized as other compre-hensive income is released to the income statement.During the initial recognition phase, equity instruments may be included in the category of assets measured at fair value with changes recognized in the comprehensive income statement.The category of assets valued at fair value with changes rec-ognized in the income statement include assets held for trad-ing, namely acquired to be sold in the short-term, and the assets designated as such. Upon initial recognition, equity in-struments not held for trading may be included in the category of financial instruments measured at fair value with changes recognized in the comprehensive income statement. This choice may be made for each asset and is irrevocable.The trade receivables without a significant financing compo-nent are valued at the transaction price determined in accord-ance with IFRS 15.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__38": {
"value": "Financial liabilitiesFinancial liabilities refer mainly to loans valued at amortized cost based on the effective interest rate.Financial liabilities are derecognized when the underlying obli-gation is extinguished, cancelled or fulfilled.Trade payables are recognized initially at present value and redetermined using the amortized cost method. Trade and other payables are reported as current liabilities unless pay-ment is expected to be made more than twelve months after the reporting date.Lease liabilitiesLease liabilities equal the present value of the payments paya-ble and not yet paid at the date of the financial statements dis-counted at the interest rate implicit in the lease, if easily deter-mined, or alternatively, at the incremental borrowing rate which is the rate that the lessee would pay on a loan with a similar duration and conditions. In the event the lease term, purchase options, the residual value guaranteed, or variable payments based on indices or rates, are redetermined, the lease liability is remeasured.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__39": {
"value": "DerivativesDerivatives are used solely for hedging purposes, in order to reduce exposures to currency and interest rate risk. As allowed by IFRS9, derivatives may qualify for special hedge accounting only when, at the inception of the hedge, the following condi-tions are satisfied:\u2022 there is a formal designation that the instrument is a hedg-ing one;\u2022 there is formal documentation of the hedging relationship, which is expected to be highly effective;\u2022 the effectiveness of the hedge can be reliably measured;\u2022 the hedge is highly effective throughout the different finan-cial reporting periods for which it was designated.In accordance with IFRS 9, all derivatives are measured at fair value determined based on the present value of the difference between the contractual forward exchange rate and the market forward exchange rate at the date of the financial report.If financial instruments qualify for hedge accounting, the fol-lowing treatment applies:Fair value hedge - If a derivative instrument is designated as a hedge of the exposure to changes in the fair value of a recog-nized asset or liability that is attributable to a particular risk that will affect profit or loss, the gain or loss from remeasuring the hedging instrument at fair value should be recognized in the income statement. The gain or loss on the hedged item at-tributable to the hedged risk adjusts the carrying amount of the hedged item and is recognized in the income statement.Cash flow hedge - If a derivative instrument is designated as a hedge of the exposure to variability in cash flows attributable to a highly probable forecasted transaction which could affect profit or loss, the effective portion of the gains or losses on the hedging instrument is recognized directly in the statement of comprehensive income. The effective portion of the cumula-tive gains or losses is reversed from net equity and reclassi-fied to profit or loss in the same period in which the hedged transaction is reported in the income statement. Gains or losses associated with a hedge or part thereof that has become ineffective are reclassified to the income statement. If a hedging instrument or hedging relationship is terminated, but the transaction being hedged has not yet occurred, the cu-mulative gains and losses, recorded up until then in the state-ment of comprehensive income, are reported in the income statement at the same time that the hedged transaction occurs. If the hedged transaction is no longer expected to occur, the unrealized gains or losses reported directly in net equity are immediately reclassified to the income statement. If hedge accounting cannot be applied, the gains or losses aris-ing from the fair value measurement of the derivatives are transferred immediately to the income statement.Net investment hedge - Hedges of a net investment in a for-eign 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 statement of comprehensive income, while any gains or losses relating to the ineffective portion are recognized in the statement of profit or loss. On disposal of the foreign operation, the cumulative value of any such gains or losses recorded in equity is transferred to the statement of profit or loss.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__44": {
"value": "Provisions for contingencies and other chargesThe Group recognizes provisions for contingencies and charg-es when (i) it has a present obligation (legal or constructive) to third parties (ii) it is probable that the Group will need to employ resources to settle the obligation and (iii) a reliable es-timate can be made of the amount of the obligation. Changes in these estimates are reflected in the income statement in the period in which they occur (also see the comments in the para-graph on \u201cEstimates and assumptions\u201d).Where the effect of the time value of money is material and the date of extinguishing the liability can be reasonably estimated, provisions are stated at the present value of the expected ex-penditure, using a discount rate that reflects current market assessments of the time value of money and the risks specific to the liability. An increase in the amount of the provision for the time value of money is accounted for in interest expense. Contingencies for which the probability of a liability is not prob-able but neither remote are disclosed in the notes but no provi-sion is recognized.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__41": {
"value": "Employee benefitsPension and other incentive plansNet obligations relating to employee benefit plans, chiefly the provision for severance indemnities (for the portion retained in Group companies) and pension funds, are recorded at the ex-pected future value of the benefits that will be received and which have accrued at the reporting date. The Group\u2019s obliga-tion to finance defined benefit pension funds and the annual cost reported in the income statement are determined by inde-pendent actuaries using the projected unit credit method. Equity based compensationThe Group grants additional benefits to a limited number of executives and key resources under the form of stock options. Based on IFRS 2 Share-based payment, the current value of the stock option determined on the grant date is recognized on a straight-line basis in the income statement as a payroll cost in the period between the grant date and the date on which the rights granted to employees, executives and others who rou-tinely provide services to one or more Group companies par-ties fully vest, with a corresponding increase in equity.At each reporting date the Group will revise estimates based on the number of options that are expected to vest, independ-ent of the fair value of the shares. Any differences with respect to the original estimates will be recognized in the consolidated income statement with a corresponding increase in equity.Once the stock option is exercised, the amounts received by the employee, net of transactions costs, will be credited to the Treas-ury stock reserve at the average price of the stocks on hand or, if the treasury stocks are not available, added to the share capital in the amount of the nominal value of the shares issued. The re-mainder will be recognized in the share premium reserve.The fair value of the stock options is determined using the Black-Scholes model which takes into account the conditions for the exercise of the right, the current share price, expected volatility, a risk free interest rate, as well as the non-vesting conditions.The fair value of the stock options is included within the Stock option Reserve.The dilutive effect of unexercised options will be reflected in the calculation of the diluted earnings per share.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__42": {
"value": "Pension and other incentive plansNet obligations relating to employee benefit plans, chiefly the provision for severance indemnities (for the portion retained in Group companies) and pension funds, are recorded at the ex-pected future value of the benefits that will be received and which have accrued at the reporting date. The Group\u2019s obliga-tion to finance defined benefit pension funds and the annual cost reported in the income statement are determined by inde-pendent actuaries using the projected unit credit method.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTerminationBenefits",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__43": {
"value": "Equity based compensationThe Group grants additional benefits to a limited number of executives and key resources under the form of stock options. Based on IFRS 2 Share-based payment, the current value of the stock option determined on the grant date is recognized on a straight-line basis in the income statement as a payroll cost in the period between the grant date and the date on which the rights granted to employees, executives and others who rou-tinely provide services to one or more Group companies par-ties fully vest, with a corresponding increase in equity.At each reporting date the Group will revise estimates based on the number of options that are expected to vest, independ-ent of the fair value of the shares. Any differences with respect to the original estimates will be recognized in the consolidated income statement with a corresponding increase in equity.Once the stock option is exercised, the amounts received by the employee, net of transactions costs, will be credited to the Treas-ury stock reserve at the average price of the stocks on hand or, if the treasury stocks are not available, added to the share capital in the amount of the nominal value of the shares issued. The re-mainder will be recognized in the share premium reserve.The fair value of the stock options is determined using the Black-Scholes model which takes into account the conditions for the exercise of the right, the current share price, expected volatility, a risk free interest rate, as well as the non-vesting conditions.The fair value of the stock options is included within the Stock option Reserve.The dilutive effect of unexercised options will be reflected in the calculation of the diluted earnings per share.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__40": {
"value": "Factoring of trade receivablesThe Group factors some of its trade receivables. Trade receiv-ables factored without recourse, resulting in the substantial transfer of the related risks and rewards, are derecognized from the financial statements at the time of their transfer. Re-ceivables whose factoring does not result in the substantial transfer of the related risks and rewards, are retained in the statement of financial position.The Group has entered an agreement for the factoring of trade receivables, involving the revolving monthly transfer of a port-folio of trade receivables without recourse.The receivables are assigned without recourse to a bank, which then transfers them to a special purpose entity which fi-nances the purchase of the receivables by issuing as-set-backed securities; the repayment of these securities, placed on the market and all subscribed by institutional inves-tors, as well as the related interest, depends on the cash flow generated by the portfolio of securitized receivables.The Group subscribes a limited quantity of securities without, however, prejudice to the requirements for the derecognition of the receivables. Receivables are sold at their face value, less a discount that reflects credit risk and the transaction\u2019s finan-cial costs. The Group acts as servicer for the special purpose entity. The contractual terms of this operation involve the sub-stantial transfer of the risks and rewards relating to the secu-ritized receivables and their consequent derecognition from the financial statements.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__45": {
"value": "Recognition of revenuesThe item \u201cRevenues\u201d includes the consideration received for goods sold to customers and services rendered.Revenues represent the consideration owed in exchange for the transfer of goods and/or services to the customer, exclud-ing amounts received on behalf of third parties. The Group recognizes the revenue when contractual obligations are ful-filled, namely when control of the good or service is trans-ferred to the customer.Based on the five-step model introduced in IFRS 15, the Group recognizes revenue after the following requirements have been met:a) the parties have approved the contract (in writing, orally or in accordance with other common commercial practices) and are committed to fulfilling the respective performance obligations; an agreement between the parties which cre-ates rights and obligations regardless of the form of the agreement has, therefore, been created;b) the rights of each of the parties in relation to the goods and services to be transferred can be identified;c) the payment terms for the goods or services to be trans-ferred can be identified;d) the contract has commercial substance;e) it is probable that the Group will receive the consideration to which it is entitled in exchange for the goods or services transferred to the customer.If the consideration referred to in the contract has a variable component, the Group will estimate the amount of the consid-eration it will be entitled to in exchange for the goods or servic-es transferred to the customer.Based on the contractual terms and conditions, the clients may be entitled to return goods; in this instance, at the time of sale a liability is recognized, as well as an adjustment to reve-nues for the merchandise that could be returned. The Group recognizes the estimated product returns by reducing reve-nues and deducting their cost from the cost of goods sold. In accordance with IFRS 15, the amount corresponding to the cost of returns is recognized in \"Inventories\".The Group typically provides warranties for the repair of de-fects existing at the time of the sale, in accordance with the law. These warranties, which are standard warranties on quali-ty, are accounted for in accordance with IAS 37 - Provisions, Contingent Liabilities and Contingent Assets.\u201cOther revenues\u201d includes the amounts received by the Group in the form of public contributions. These contributions, recog-nized when it is reasonably certain that the qualifying condi-tions will be met and the contributions will be received, are in-cluded systematically in the net result relative to the years in which the costs that the contributions are intended to com-pensate are expensed. The public contributions recognized in capital accounts are recognized in the statement of financial position as deferred income.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__46": {
"value": "Costs and expensesCosts and expenses are accounted for on an accrual basis.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__47": {
"value": "DividendsDividend distributions represent a movement in net equity in the period in which they are declared by the shareholders in general meeting.Dividends received are reported when the Group is entitled to receive the payment.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__48": {
"value": "Income taxesIncome taxes include all the taxes calculated on the Group\u2019s taxable income. Income taxes are recorded in the income statement, except for those relating to items directly debited or credited to net equity, in which case the associated tax is rec-ognized directly in net equity.Deferred taxes are provided on the basis of global provision for the liability. They are calculated on all the temporary differenc-es emerging between the tax base of an asset or liability and their book value in the consolidated financial statements, except for goodwill whose amortization cannot be deducted for tax purposes and those differences arising from invest-ments in subsidiaries which are not expected to reverse in the foreseeable future. Deferred tax assets on the carryforward of unused tax losses and tax credits are recognized to the extent that it is probable that future taxable profit will be available against which these can be recovered. Current and deferred tax assets and liabilities may be offset when the income taxes are charged by the same tax authority and when there is a legal right of setoff. Deferred tax assets and liabilities are cal-culated at the tax rates that are expected to apply to the period when the asset is realized or the liability settled, based on tax rates and laws applying in the countries where the Group operates.Deferred taxes on reserves of distributable earnings in subsidi-aries are recognized only if it is probable that such reserves will be distributed.Any uncertainty regarding tax treatments is considered in the tax calculation in accordance with the recommendations of IFRIC 23 Uncertainty over Income Tax Treatments.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__49": {
"value": "Deferred taxes are provided on the basis of global provision for the liability. They are calculated on all the temporary differenc-es emerging between the tax base of an asset or liability and their book value in the consolidated financial statements, except for goodwill whose amortization cannot be deducted for tax purposes and those differences arising from invest-ments in subsidiaries which are not expected to reverse in the foreseeable future. Deferred tax assets on the carryforward of unused tax losses and tax credits are recognized to the extent that it is probable that future taxable profit will be available against which these can be recovered. Current and deferred tax assets and liabilities may be offset when the income taxes are charged by the same tax authority and when there is a legal right of setoff. Deferred tax assets and liabilities are cal-culated at the tax rates that are expected to apply to the period when the asset is realized or the liability settled, based on tax rates and laws applying in the countries where the Group operates.Deferred taxes on reserves of distributable earnings in subsidi-aries are recognized only if it is probable that such reserves will be distributed.Any uncertainty regarding tax treatments is considered in the tax calculation in accordance with the recommendations of IFRIC 23 Uncertainty over Income Tax Treatments.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__50": {
"value": "Earnings per shareBasic earnings per share are calculated by dividing the earn-ings for the year payable to the parent company\u2019s ordinary shareholders by the weighted average number of ordinary shares outstanding during the period.The diluted earnings per share are calculated by dividing the earnings for the year payable to the parent company\u2019s ordinary shareholders by the weighted average number of ordinary shares outstanding during the period and the shares potential-ly issued following the exercise of assigned stock options.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__51": {
"value": "Estimates and assumptionsThis financial statement, prepared in accordance with IFRS, contain estimates and assumptions made by the Group relat-ing to assets and liabilities, costs, revenues and contingent lia-bilities at the reporting date. These estimates are based on past experience and assumptions considered to be reasona-ble and realistic, based on the information available at the time of making the estimate.The assumptions relating to these estimates are periodically reviewed and the related effects reflected in the income state-ment in the same period: actual results could therefore differ from these estimates. The following paragraphs discuss the principal assumptions used for estimation purposes and the principal sources of un-certainty, that have a risk of causing material adjustment to the book value of assets and liabilities in the future; details of book value can be found in the individual explanatory notes.Allowance for doubtful accountsThe allowance for doubtful accounts reflects estimated losses on trade receivables recognized in the financial statements and not covered by insurance. The losses equal the difference between the amounts the Group is entitled to receive based on contracts with customers and the estimated inflows.Changes in the economic environment could cause the perfor-mance of some of the Group\u2019s customers to deteriorate, with an impact on the recoverability of the uninsured portion of trade receivables.Recoverable amount of non-current assetsThe Group reviews all its non-financial assets at every report-ing date for any evidence of impairment. Goodwill and other intangible assets with an indefinite useful life are tested annu-ally for impairment. The recoverable amount of non-current assets is usually determined with reference to value in use, being the present value of the future cash flows expected from an asset\u2019s continuing use. The forecast cash flows are deter-mined based on the information available when estimated based on the opinion of the directors regarding the future per-formance of certain variables - such as prices and the subse-quent revenues, costs, increase in demand, production flows - which are discounted at a risk-adjusted rate. The test also involves selecting a suitable discount rate for calculating the present value of the expected cash flows.Employee benefitsThe cost of defined benefit pension plans is determined using actuarial valuations, based on statistical assumptions regard-ing discount rates, expected returns on investments, future salary growth and mortality rates.The Group believes the rates estimated by its actuaries to be reasonable for the year-end valuations, but cannot rule out that large future changes in rates could have a material impact on the liabilities recognized in the financial statements.Deferred tax assets recoverabilityDeferred tax assets include those relating to carryforward tax losses to the extent that there is likely to be sufficient future taxable profit against which such losses can be recovered.Management must use their discretion when determining the amount of deferred tax assets for recognition in the financial statements. They must estimate the likely timing of reversal and the amount of future taxable profit, as well as the future tax planning strategy.Provisions for contingenciesThe Group makes several provisions against disputes or risks of various kinds relating to different matters falling under the jurisdiction of different countries. The determination, probabili-ty and quantification of these liabilities involve estimation pro-cesses that are often very complex, for which management uses all the available information at the date of preparing the financial statements, including with the support of legal and tax advisors.Product warranty provisionsThe Group makes provisions for the estimated cost of product warranties. Management establishes the amount of these pro-visions on the basis of past trends relating to the frequency and average cost of under-warranty repairs and replacement.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__52-1": {
"value": "Change in the scope of consolidationOn 27 February 2024 the Group finalized the agreements for a business combination between Eversys, leader in the produc-tion and distribution of automatic coffee machines, and La Marzocco, leader in the production and distribution of semi-automatic coffee machines and coffee grinders.With this transaction, La Marzocco and Eversys will be able to further strengthen their position along the entire value chain, from research and engineering to production and market de-velopment, while creating a global player able to effectively compete in a leadership position in different market segments, such as automatic machines, traditional machines and luxury household, offering a variety of complementary products, technologies and brandsThe deal is in line with the Group\u2019s strategic guidelines, which see the further consolidation of its leadership in the world of coffee and the expansion of its presence in the professional channel as key to medium-term developmentThe transaction can be classified as a \u201ctransaction between related parties of greater importance\u201d, due to the fact that De\u2019 Longhi S.p.A. and La Marzocco International LLC are subject to the common control of De\u2019 Longhi Industrial S.A.As such, the transaction was subject to the prior approval of the Committee of Independent Directors, responsible for ma-terial related party transactions and approved unanimously by De\u2019 Longhi S.p.A.\u2019s Board of Directors, with the abstention of the Chairman Giuseppe de\u2019 Longhi and the Directors Fabio de\u2019 Longhi and Silvia de\u2019 Longhi, in accordance with laws and reg-ulations governing related party transactions. For further infor-mation, the reader should refer to \u201cInformation Document for Major Transactions with Related Parties\u201d issued on 28 Decem-ber 2023.As a result of the transaction a new corporate structure, con-trolled by De\u2019 Longhi S.p.A., was created through the contribu-tion of Eversys and the Group\u2019s purchase of the shares (held directly and/or indirectly) of La Marzocco International LLC (around 41.2% of the share capital) from De\u2019 Longhi Industrial S.A. and the minority shareholders. The remaining shares of La Marzocco were also transferred to the new corporate entity by the shareholders.Following the transaction, finalized on 27 February 2024, the Group controls approximately 61.6% of the new entity, while De\u2019 Longhi Industrial S.A. and La Marzocco, the previous shareholders, have minority stakes of approximately 26.5% and 12%, respectively.The De\u2019 Longhi Group\u2019s total net cash-out came to around US$ 373 million, of which US$ 200 million paid to De\u2019 Longhi Indus-trial S.A. (for 22.1% of La Marzocco) and US$ 173 million paid to the minority shareholders of La Marzocco (for 19.1% of La Marzocco).The consolidation of financials started on 1 March 2024 since the impacts of the transactions occurred in the period be-tween this date and the date of the combination itself were not significant.During the 2024, the consideration paid was allocated to the assets and liabilities acquired.As the transaction is the result of a business combination of companies subject to common control, based on which the parent company reallocated the production assets already controlled and managed within the scope of its consolidation, the figures recognized for the business acquired are those found in the last consolidated annual report approved by the parent company De\u2019 Longhi Industrial S.A.The assets and liabilities acquired are summarized below:Values in $/000 Values in \u20ac/000NON-CURRENT ASSETSINTANGIBLE ASSETS 450,448 417,082- Goodwill 324,824 300,763- Other intangible assets 125,624 116,319PROPERTY, PLANT AND EQUIPMENT 65,263 60,429EQUITY INVESTMENTS AND OTHER FINANCIAL ASSETS 995 921DEFERRED TAX ASSETS 9,955 9,218TOTAL NON-CURRENT ASSETS 526,661 487,650CURRENT ASSETSINVENTORIES 55,587 51,469TRADE RECEIVABLES 22,283 20,632CURRENT TAX ASSETS 8,124 7,523OTHER RECEIVABLES 9,826 9,098CURRENT FINANCIAL RECEIVABLES AND ASSETS 4,247 3,933CASH AND CASH EQUIVALENTS 46,776 43,311TOTAL CURRENT ASSETS 146,843 135,966TOTAL ASSETS 673,504 623,616NET EQUITYTOTAL NET EQUITY 541,152 501,067NON-CURRENT LIABILITIESFINANCIAL PAYABLES 19,117 17,701DEFERRED TAX LIABILITIES 35,647 33,007NON-CURRENT PROVISIONS FOR CONTINGENCIES AND OTHER CHARGES 21,210 19,639TOTAL NON-CURRENT LIABILITIES 75,974 70,347CURRENT LIABILITIESTRADE PAYABLES 23,365 21,634FINANCIAL PAYABLES 12,512 11,585CURRENT TAX LIABILITIES 1,235 1,144OTHER PAYABLES 19,266 17,839TOTAL CURRENT LIABILITIES 56,378 52,202TOTAL NET EQUITY AND LIABILITIES 673,504 623,616The difference between the purchase price paid in cash, the net value of the assets acquired and the value of the assets contributed to the business combination was recognized as a movement in net equity as the transaction was with share-holders of the parent company:Values in \u20ac/000Purchase price paid 345,560Fair value of assets and liabilities 501,067acquiredMinority interest 178,732Transaction with shareholders (23,225)List of consolidated companiesInterest held at 31/12/2024Company name Registered office Currency Share capital (1)Directly IndirectlyDE\u2019LONGHI APPLIANCES S.R.L. Treviso EUR 200,000,000 100.0%DE\u2019LONGHI AMERICA INC. Upper Saddle River USD 600,000 100.0%DE\u2019LONGHI FRANCE SAS Clichy EUR 2,737,500 100.0%DE\u2019LONGHI CANADA INC. Brampton CAD 1 100.0%DE\u2019LONGHI DEUTSCHLAND GMBH Neu-Isenburg EUR 2,100,000 100.0%DE\u2019LONGHI BRAUN HOUSEHOLD GMBH Neu-Isenburg EUR 100,000 100.0%DE\u2019LONGHI ELECTRODOMESTICOS ESPANA S.L. Barcellona EUR 3,066 100.0%DE\u2019LONGHI CAPITAL SERVICES S.R.L. (2) Treviso EUR 53,000,000 11.3% 88.7%E- SERVICES S.R.L. Treviso EUR 50,000 100.0%DE\u2019LONGHI KENWOOD A.P.A. LTD Hong Kong HKD 73,010,000 100.0%TRICOM INDUSTRIAL COMPANY LIMITED Hong Kong HKD 171,500,000 100.0%PROMISED SUCCESS LIMITED Hong Kong HKD 28,000,000 100.0%ON SHIU (ZHONGSHAN) ELECTRICAL APPLIANCE CO.LTD. Zhongshan City CNY USD 21,200,000 100.0%DE\u2019LONGHI-KENWOOD APPLIANCES (DONG GUAN) CO.LTD. Qing Xi Town CNY HKD 285,000,000 100.0%DE LONGHI BENELUX S.A. Luxembourg EUR 101,342,720 100.0%DE\u2019LONGHI JAPAN CORPORATION Tokyo JPY 450,000,000 100.0%DE\u2019LONGHI AUSTRALIA PTY LTD. Prestons AUD 28,800,001 100.0%DE\u2019LONGHI NEW ZEALAND LTD. (3) Auckland NZD 16,007,143 100.0%DE\u2019LONGHI LLC Mosca RUB 3,944,820,000 100.0%KENWOOD APPLIANCES LTD. Havant GBP 30,586,001 100.0%KENWOOD LIMITED Havant GBP 26,550,000 100.0%KENWOOD INTERNATIONAL LTD. Havant GBP 20,000,000 100.0%KENWOOD APPL. (SINGAPORE) PTE LTD. Singapore SGD 500,000 100.0%KENWOOD APPL. (MALAYSIA) SDN.BHD. Subang Jaya MYR 1,000,000 100.0%DE\u2019LONGHI-KENWOOD GMBH Wr Neudorf EUR 36,336 100.0%DELONGHI SOUTH AFRICA PTY.LTD. Constantia Kloof ZAR 100,332,500 100.0%DE\u2019LONGHI KENWOOD HELLAS SINGLE MEMBER S.A. Atene EUR 452,520 100.0%Interest held at 31/12/2024Company name Registered office Currency Share capital (1)Directly IndirectlyDE\u2019LONGHI PORTUGAL UNIPESSOAL LDA Matosinhos EUR 5,000 100.0%ARIETE DEUTSCHLAND GMBH Dusseldorf EUR 25,000 100.0%CLIM.RE. S.A. Luxembourg EUR 1,239,468 4.0% 96.0%ELLE S.R.L. Treviso EUR 10,000 100.0%TASFIYE HALINDE DE\u2019LONGHI BOSPHORUS EV ALETLERI Istanbul TRY 3,500,000 100.0%TICARET ANONIM SIRKETIDE\u2019LONGHI PRAGA S.R.O. Praga CZK 200,000 100.0%DE'LONGHI SWITZERLAND AG Baar CHF 1,000,000 100.0%DL HRVATSKA D.O.O. Zagabria EUR HRK 20,000 100.0%DE\u2019LONGHI BRASIL - COM\u00c9RCIO E IMPORTA\u00c7\u00c3O Ltda S\u00e3o Paulo BRL 43,857,581 100.0%DE\u2019LONGHI POLSKA SP. Z.O.O. Varsavia PLN 50,000 0.1% 99.9%DE\u2019LONGHI APPLIANCES TECHNOLOGY SERVICES (Shenzen) Co. Ltd Shenzen CNY USD 175,000 100.0%DE\u2019LONGHI UKRAINE LLC Kiev UAH 549,843 100.0%DE\u2019LONGHI KENWOOD MEIA F.ZE Dubai USD AED 2,000,000 100.0%DE\u2019LONGHI ROMANIA S.R.L. Cluj-Napoca RON 140,000,000 10.0% 90.0%DE'LONGHI KOREA LTD Seoul KRW 900,000,000 100.0%DL CHILE S.A. Santiago del Cile CLP 3,079,065,844 100.0%DE\u2019LONGHI SCANDINAVIA AB Stockholm SEK 5,000,000 100.0%DELONGHI MEXICO SA DE CV Bosques de las Lomas MXN 53,076,000 100.0%DE\u2019LONGHI APPLIANCES (SHANGHAI) CO. LTD Shanghai CNY USD 14,245,000 100.0%DE' LONGHI MAGYARORSZ\u00c1G KFT. Budapest HUF 34,615,000 100.0%DE' LONGHI US HOLDING LLC Wilmington USD 50,100,000 100.0%DE LONGHI LLP Almaty KZT 500,000 100.0%DE LONGHI BENELUX II S.\u00e0r.l. Luxembourg CHF 76,272,000 100.0%LA MARZOCCO, EVERSYS & CO S.\u00e0r.l. Luxembourg EUR 112,979,231 69.9%I DUE LEONI S.R.L. Milano EUR 10,000 69.9%THE TWO LIONS INDUSTRIES CORP. Dover USD 10,000 69.9%Interest held at 31/12/2024Company name Registered office Currency Share capital (1)Directly IndirectlyBRUNO INTERNATIONAL HoldCo LLC Wilmington USD 1 61.5%BRUNO U.S. HoldCo LLC Wilmington USD 1 61.5%EVERSYS S.A. Sierre CHF 2,500,000 61.5%EVERSYS INC Toronto USD 77 61.5%EVERSYS INC DELAWARE Wilmington USD 200,000 61.5%EVERSYS UK LIMITED Crawley GBP 70,000 61.5%EVERSYS IRELAND LIMITED Dublin EUR 100 61.5%EVERSYS DIGITRONICS AG M\u00fcnsingen CHF 100,000 61.5%ELLITEC GMBH Stans CHF 20,000 61.5%LA MARZOCCO SRL Firenze EUR 52,000 59.1%LA MARZOCCO INTERNATIONAL LLC Seattle USD 60,626,218 61.5%LA MARZOCCO EXPERIENCE, LLC Seattle USD - 61.5%LMI BUILDING, LLC Seattle USD - 61.5%LA MARZOCCO USA LLC Seattle USD - 61.5%LA MARZOCCO AUSTRALASIA LIMITED Auckland NZD - 61.5%LA MARZOCCO AUSTRALASIA GP LTD Abbotsford AUD 1,000 61.5%LA MARZOCCO AUSTRALASIA PTY LTD. Abbotsford AUD 993,015 61.5%LA MARZOCCO UK LIMITED Londra GBP 100 61.5%LA MARZOCCO SPAIN SL Barcelona EUR 10,000 61.5%LA MARZOCCO DEUTSCHALAND GMBH Markgr\u00f6ningen EUR 25,000 61.5%LA MARZOCCO SHANGHAI CO. LTD Shanghai CNY 6,566,792 31.4%ELECTRO SYSTEM SRL Firenze EUR 60,000 30.1%BREWTECH PTY LTD Kensington AUD 100 36.9%LA MARZOCCO MIDDLE EAST DMCC Dubai AED 50,000 59.1%LA MARZOCCO SEA PTE LTD Singapore EUR - 61.5%LA MARZOCCO FRANCE SAS Parigi EUR 10,000 59.1%LA MARZOCCO EQUIPMENT TRADING L.L.C (4) Dubai AED 200,000 61.5%Interest held at 31/12/2024Company name Registered office Currency Share capital (1)Directly IndirectlyCAPITAL BRANDS HOLDINGS, INC. Wilmington USD 44 100.0%CAPITAL BAY, LIMITED (3) Hong Kong USD - 100.0%CAPBRAN HOLDINGS, LLC Los Angeles USD - 100.0%CAPITAL BRANDS, LLC Los Angeles USD - 100.0%CAPITAL BRANDS DISTRIBUTION, LLC Los Angeles USD - 100.0%BULLET BRANDS, LLC Los Angeles USD - 100.0%HOMELAND HOUSEWARES, LLC Los Angeles USD - 100.0%BABY BULLET, LLC Los Angeles USD - 100.0%NUTRIBULLET, LLC Los Angeles USD - 100.0%NUTRILIVING, LLC Los Angeles USD - 100.0%Investments valued in accordance with the equity methodInterest held at 31/12/2024Company name Registered office Currency Share capital (1)Directly IndirectlyDL-TCL HOLDINGS (HK) LTD. Hong Kong HKD USD 5,000,000 50%TCL-DE\u2019LONGHI HOME APPLIANCES (ZHONGSHAN) CO.LTD. Zhongshan City CNY USD 5,000,000 50%TCL-DELONGHI ELECTRICAL APPLIANCES HK CO. LIMITED Hong Kong HKD USD 300,000 50%NPE S.R.L. Treviso EUR 1,000,000 20%H&T-NPE EAST EUROPE S.R.L. Madaras RON 14,707,600 20%SONGWA ESTATE GMBH Emmerich EUR 45,000 20%(1) Figures at 31 December 2024, unless otherwise specified.(2) The articles of association, approved by the extraordinary shareholders' meeting held on 29 December 2004, give special rights to De'Longhi S.p.A. (holding 89% of the voting rights) for ordinary resolutions (approval of financial statements, declaration of dividends, nomination of directors and statutory auditors, purchase and sale of companies, grant of loans to third parties); voting rights are proportional as far as other resolutions are concerned, except for the preferential right to receive dividends held by the shareholder Kenwood Appliances Ltd.(3) Dormant.(4) Share capital deliberated but not yet paid.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCompositionOfGroupExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__53-1": {
"value": "Disclosure by operating segmentsPlease refer to Note 45. Operating segments.The report on operations contains comments on the econom-ic results by geographical area.45. Operating segmentsAs a result of the Eversys/La Marzocco business combination, the Group\u2019s organizational struc-ture and governance were changed due to the identification of two new operating segments which qualify as such under IFRS 8. These are the Household and Professional divisions, each of which generate revenues and costs (including the revenues and costs relating to transactions with other Group entitites) and their operating results are examined periodically by top manage-ment. The Group\u2019s activities have been divided between the two divisions based on relevancy.Information relating to operating segments is presented below:Income Statement dataIntersegment 2024HOUSEHOLD PROFESSIONALeliminations Total(**)Total revenues (*) 3,166,128 334,730 (3,303) 3,497,555EBITDA before non-re-curring/stock option 487,603 72,155 (1) 559,757costs (***)EBIT 430,801Profit (loss) before taxes 429,374Taxes (104,424)Profit (loss) for the year 324,950Profit (loss) pertaining to 14,213minorityProfit (loss) pertaining 310,737to GroupData from statement of financial positionIntersegment 31 December 2024HOUSEHOLD PROFESSIONALTotaleliminations (**)Total assets 3,382,823 980,299 (26,996) 4,336,126Total liabilities (1,899,528) (199,201) 26,996 (2,071,733)(*) The revenues for each segment include revenues generated by both third parties and other Group operating segments.(**) Eliminations refer to intersegment transactions generated and eliminated on a consolidated basis.(***) The \u2018EBITDA before non-recurring/stock option costs\u2019 is calcultated excluding non recurring items and cost of the stock option plans, consistently with values presented in the report on operations, to which refer for further information.As stated in paragraphs 29 and 30 of IFRS 8, if it is not possible to provide comparison figures based on the newly defined segments, the segment information for the current year and 2023, based on the former configuration of the segments, which called for a breakdown of activities based on geographic location, should also be reported.In this configuration each segment has transversal competencies relative to all the Group\u2019s brands and serves different markets; the revenues and margins for each operating segment (by geographic area of activity), therefore, do not coincide with the revenues and margins of the rela-tive markets (by geographic destination) as a few Group companies make sales outside their ge-ographic areas and intercompany transactions do not have a destination market.The information by operating segment defined based on geographic location of the activities is provided below:Income Statement dataIntersegment Americas/2024EuropeMEIAeliminations TotalAPA(**)Total revenues (*) 2,678,198 1,632,197 166,550 (979,390) 3,497,555EBITDA 327,657 207,400 14,019 (653) 548,423Amortization (80,908) (36,466) (248) (117,622)EBIT 246,749 170,934 13,771 (653) 430,801Net financial income (1,427)(expenses)Profit (loss) before taxes 429,374Taxes (104,424)Profit (loss) for the year 324,950Profit (loss) pertaining to 14,213minorityProfit (loss) pertaining 310,737to GroupData from statement of financial positionIntersegment Americas/31 December 2024EuropeMEIAeliminations TotalAPA(**)Total assets 3,293,807 2,191,135 107,680 (1,256,496) 4,336,126Total liabilities (2,373,443) (900,486) (54,295) 1,256,491 (2,071,733)Income Statement dataIntersegment Americas/2023EuropeMEIAeliminations TotalAPA(**)Total revenues (*) 2,278,490 1,506,963 159,126 (868,675) 3,075,904EBITDA 280,966 142,360 14,820 (327) 437,819Amortization (76,029) (31,921) (241) - (108,191)EBIT 204,937 110,439 14,579 (327) 329,628Net financial income (2,330)(expenses)Profit (loss) before taxes 327,298Taxes (76,886)Profit (loss) for the year 250,412Profit (loss) pertaining to 35minorityProfit (loss) pertaining 250,377to GroupData from statement of financial positionIntersegment Americas/31 December 2023EuropeMEIAeliminations TotalAPA(**)Total assets 3,256,416 1,440,959 85,952 (970,899) 3,812,428Total liabilities (2,190,713) (744,695) (36,782) 970,901 (2,001,289)(*) The revenues for each segment include revenues generated by both third parties and other Group operating segments.(**) Eliminations refer to intersegment transactions generated and eliminated on a consolidated basis.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__54": {
"value": "1. RevenuesIn 2024 revenues, including revenues from sales and services and other revenues, amount to \u20ac3,497,555 thousand (\u20ac3,075,904 thousand in 2023).Revenues are broken down by geographical area as follows:% % 20242023Change Change %revenuesrevenuesEurope 2,153,751 61.6% 1,907,052 62.0% 246,699 12.9%America 652,278 18.6% 547,0 46 17.8% 105,232 19.2%Asia Pacific 488,394 14.0% 447,374 14.5% 41,020 9.2%MEIA (Middle 203,132 5.8% 174,432 5.7% 28,700 16.5%East/India/Africa)Total 3,497,555 100.0% 3,075,904 100.0% 421,651 13.7%Comments on the most significant changes can be found in the \u201cMarkets\u201d section of the report on operations.\u201cOther revenues\u201d is broken down as follows:2024 2023 ChangeFreight reimbursement 6,952 5,101 1,851Governement grants and 5,774 1,086 4,688contributionsCommercial rights 2,506 2,128 378Damages reimbursed 1,920 1,313 607Other income 34,768 23,190 11,578Total 51,920 32,818 19,102With regard to Law n. 124 of 4 August 2017, which regulates transparency in public funding, the item \u201cGrants and contributions\u201d includes income of \u20ac383 thousand stemming from the incentives granted by Gestore dei Servizi Energetici GSE S.p.A. for the production of energy at Italian plants through photovoltaic systems connected to the grid. The item includes also government grants received for the expansion of the production plant in Romania.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRevenueExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__55": {
"value": "\u201cOther revenues\u201d is broken down as follows:2024 2023 ChangeFreight reimbursement 6,952 5,101 1,851Governement grants and 5,774 1,086 4,688contributionsCommercial rights 2,506 2,128 378Damages reimbursed 1,920 1,313 607Other income 34,768 23,190 11,578Total 51,920 32,818 19,102With regard to Law n. 124 of 4 August 2017, which regulates transparency in public funding, the item \u201cGrants and contributions\u201d includes income of \u20ac383 thousand stemming from the incentives granted by Gestore dei Servizi Energetici GSE S.p.A. for the production of energy at Italian plants through photovoltaic systems connected to the grid. The item includes also government grants received for the expansion of the production plant in Romania.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__57": {
"value": "2. Raw and ancillary materials, consumables and goodsThe breakdown is as follows:2024 2023 ChangeParts 689,239 6 47,925 41,314Finished products 598,426 529,618 68,808Raw materials 202,392 102,411 99,981Other purchases 25,107 21,500 3,607Total 1,515,164 1,301,454 213,7103. Change in inventoriesThe difference between the overall change in inventories reported in the income statement andthe change in balances reported in the statement of financial position is mainly due to variation inthe consolidation perimeter and differences arising on the translation of foreign subsidiaries fi-nancial statements.4. Payroll costsThese costs include \u20ac162,170 thousand in production-related payroll (\u20ac133,139 thousand in2023). 2024 2023 ChangeEmployee wages and salaries 444.977 368.842 76.135Temporary workers 39.730 24.404 15.326Total 484.707 393.246 91.461In 2024, the item includes non-recurring expense of \u20ac1,630 thousand (\u20ac1,036 thousand in 2023),referring to corporate reorganization.The figures relating to the cost of employee benefits provided by certain Group companies in Italyand abroad are reported in note 34. Employee benefits.The item includes \u20ac9,950 thousand relating to the notional cost (fair value) of the stock option plan 2020-2027 (\u20ac907 thousand in 2023); please refer to notes 27. Sahre-based incentive plans and 34. Employee benefits for more information.The average size of the Group\u2019s workforce during the year is analyzed as follows:2024 2023Blue collars 6,798 6,437White collars 3,557 3,185Managers 376 304Total 10,731 9,9265. Services and other operating expensesThese are detailed as follows:2024 2023 ChangePromotional expenses 280,727 253,340 27,387Transport (for purchases and 158,074 133,748 24,326sales)Advertising 155,114 140,456 14,658Consulting services 48,471 41,951 6,520Subcontracted work 45,633 45,491 142Storage and warehousing 29,583 25,390 4,193Technical support 29,461 28,461 1,000Rentals and leasing 20,798 23,618 (2,820)Commissions 19,186 16,031 3,155Travel 16,526 12,816 3,710Power 14,721 14,582 139Insurance 12,163 10,747 1,416Maintenance 7,956 5,146 2,810Product certification and 7,117 6,498 619product inspection feesOther utilities and cleaning 6,394 5,788 606fees, security, waste collectionDirectors' emoluments 5,839 3,201 2,638Postage, telegraph and 5,575 4,747 828telephonesStatutory auditors' 456 295 161emolumentsOther sundry services 67,023 55,482 11,541Total services 930,817 827,788 103,029Sundry taxes 53,432 47,950 5,482Bad debts 99 364 (265)Out-of-period losses 38 212 (174)Other 11,866 8,893 2,973Total other operating 65,435 57,419 8,016expensesTotal 996,252 885,207 111,045In 2024, the item includes net non-recurring expenses for \u20ac1,721 thousand (\u20ac4,727 thousand in 2023) mainly related to advisory and consultancy services connected to the La Marzocco/Ever-sys business combination.In 2024 the item \u201cRentals and leasing\u201d includes \u20ac1,803 thousand in commercial rights (\u20ac427 thou-sand in 2023).In addition, it includes operating costs relating to contracts that are not or do not contain a lease (\u20ac16,211 thousand, \u20ac20,897 thousand in 2023), as well as costs relating to leases of less than twelve months\u2019 duration (\u20ac1,610 thousand, \u20ac1,846 thousand in 2023) or relating to low-value assets (\u20ac1,174 thousand, \u20ac448 thousand in 2023); for further information, please refer to note 15. Leases.6. Provisions These include \u20ac25,048 thousand in provisions for contingencies and other charges and a net in-crease of \u20ac103 thousand in provision for doubtful accounts. In 2024 the item includes net non-re-curring expenses for \u20ac2,961 thousand related to corporate reorganisation. The main changes in this item are discussed in note 35. Other provisions for non-current contingencies and charges.7. Amortization The breakdown is as follows:2024 2023 ChangeAmortization of intangible 27,821 27,550 271assetsDepreciation of property, 63,259 57,343 5,916plant and equipmentDepreciation of Right of Use 26,542 23,298 3,244assetsTotal 117,622 108,191 9,431More details about amortization and depreciation can be found in the tables reporting move-ments in intangible assets and property, plant and equipment.8. Non-recurring income/(expenses)In these financial statements, some items of a non-recurring nature resulting in net expenses of \u20ac390 thousand were shown separately. This item includes the costs for services connected to the La Marzocco/Eversys business combination and the costs arising from the ongoing reorgan-ization of the company. The economic impact of the purchase price allocation stemming from the acquisitions of Capital Brands are also included.The non-recurring amounts are shown in the income statement, in the corresponding item of the statement.9. Net financial income (expenses)Net financial income and expenses are broken down by nature as follows:2024 2023 ChangeExchange differences and gains (losses) on currency (1,870) 1,970 (3,840)hedges (*)Share of profit of equity investments consolidated by 753 (589) 1,342the equity methodInterest for leasing (2,935) (1,896) (1,039)Net interests 9,295 1,200 8,095Other financial income (6,670) (3,015) (3,655)(expenses)Other net financial income (310) (3,711) 3,401(expenses)Net financial income (1,427) (2,330) 903(expenses) (*) The item includes \u20ac20 thousand relating to exchange rate losses on leases accounted for in accordance with IFRS 16 Leases.\u201cExchange differences and gains (losses) on currency hedges\u201d includes the rate differentials on currency risk hedges, as well as the exchange differences linked to consolidation.\u201cShare of profit of equity investments consolidated by the equity method\u201d includes income from the joint venture TCL/DL, dedicated to the manufacture of portable air conditioners. Interest on leases is equal to the portion of financial expenses payable matured in the reporting period on a liability, recognized in accordance with IFRS 16 Leases. For more information see note 15. Leases.\u201cNet interests\u201d includes interest received on the Group\u2019s investments for an amount of \u20ac34,751 thousand (\u20ac32,276 thousand in 2023), net of the bank interest on the Group\u2019s financial debt (re-calculated using the amortized cost method), and the cost of other financial instruments for an amount of \u20ac25,456 thousand (\u20ac31,076 thousand in 2023).\u201cOther financial income (expenses)\u201d include bank charges, financial expenses arising from the actuarial calculation of the long-term employee benefits and other financial charges for a total amount of \u20ac9,264 thousand (\u20ac5,896 thousand in 2023), net of gain arising from investments eval-uated at fair value through profit and loss for an amount of \u20ac2,594 thousand (\u20ac2,881 thousand in 2023).10. Income taxesThese are analyzed as follows:2024 2023 ChangeCurrent income taxes:- Income taxes 98,657 78,135 20,522- IRAP (Italian regional 7,161 5,923 1,238business tax)Deferred (advanced) taxes (1,394) (7,172) 5,778Total 104,424 76,886 27,538\u201cDeferred (advanced) taxes\u201d include the taxes calculated on the temporary differences arising between the accounting values of assets and liabilities and on the corresponding tax base (par-ticularly for taxed provisions recognized by the parent company and its subsidiaries) and on the distributable income of the subsidiaries.They also include the benefit arising from the carryforward of unused tax losses which are likely to be used in the future.Current income taxes reflect Pillar 2 application. Based on the information available and reasonable estimates, the De' Longhi Group\u2019s exposure to Pillar 2 income taxes at 31 December 2024 refers mainly to the United Arab Emirates, in the amount of \u20ac2.4 million. The remainder of \u20ac0.2 million is broken down into immaterial amounts, relating to different jurisdictions. The total allocation of \u20ac2.6 million was recognized in the income statement as an increase to \u201cIncome taxes\u201d and to liabilities under \u201cTax payables\u201d. The Group will continue to assess the impact that Pillar 2 income taxes will have on its future fi-nancial results.The actual and theoretical tax charge are reconciled here below:2024 % 2023 %Profit before taxes 429,374 100.0% 327,298 100.0%Theoretical taxes 103,050 24.0% 78,552 24.0%Other (*) (5,787) (1.3%) (7,589) (2.3%)Total income taxes 97,263 22.7% 70,963 21.7%IRAP (Italian regional 7,161 1.7% 5,923 1.8%business tax)Actual taxes 104,424 24.3% 76,886 23.5%(*) Mostly refers to the net tax effect of permanent differences, of different tax rates applied abroad relative to the theoretical ones applied in Italy, of adjustments on prior years taxes.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfExpensesByNatureExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__56": {
"value": "2. Raw and ancillary materials, consumables and goodsThe breakdown is as follows:2024 2023 ChangeParts 689,239 6 47,925 41,314Finished products 598,426 529,618 68,808Raw materials 202,392 102,411 99,981Other purchases 25,107 21,500 3,607Total 1,515,164 1,301,454 213,7103. Change in inventoriesThe difference between the overall change in inventories reported in the income statement andthe change in balances reported in the statement of financial position is mainly due to variation inthe consolidation perimeter and differences arising on the translation of foreign subsidiaries fi-nancial statements.4. Payroll costsThese costs include \u20ac162,170 thousand in production-related payroll (\u20ac133,139 thousand in2023). 2024 2023 ChangeEmployee wages and salaries 444.977 368.842 76.135Temporary workers 39.730 24.404 15.326Total 484.707 393.246 91.461In 2024, the item includes non-recurring expense of \u20ac1,630 thousand (\u20ac1,036 thousand in 2023),referring to corporate reorganization.The figures relating to the cost of employee benefits provided by certain Group companies in Italyand abroad are reported in note 34. Employee benefits.The item includes \u20ac9,950 thousand relating to the notional cost (fair value) of the stock option plan 2020-2027 (\u20ac907 thousand in 2023); please refer to notes 27. Sahre-based incentive plans and 34. Employee benefits for more information.The average size of the Group\u2019s workforce during the year is analyzed as follows:2024 2023Blue collars 6,798 6,437White collars 3,557 3,185Managers 376 304Total 10,731 9,9265. Services and other operating expensesThese are detailed as follows:2024 2023 ChangePromotional expenses 280,727 253,340 27,387Transport (for purchases and 158,074 133,748 24,326sales)Advertising 155,114 140,456 14,658Consulting services 48,471 41,951 6,520Subcontracted work 45,633 45,491 142Storage and warehousing 29,583 25,390 4,193Technical support 29,461 28,461 1,000Rentals and leasing 20,798 23,618 (2,820)Commissions 19,186 16,031 3,155Travel 16,526 12,816 3,710Power 14,721 14,582 139Insurance 12,163 10,747 1,416Maintenance 7,956 5,146 2,810Product certification and 7,117 6,498 619product inspection feesOther utilities and cleaning 6,394 5,788 606fees, security, waste collectionDirectors' emoluments 5,839 3,201 2,638Postage, telegraph and 5,575 4,747 828telephonesStatutory auditors' 456 295 161emolumentsOther sundry services 67,023 55,482 11,541Total services 930,817 827,788 103,029Sundry taxes 53,432 47,950 5,482Bad debts 99 364 (265)Out-of-period losses 38 212 (174)Other 11,866 8,893 2,973Total other operating 65,435 57,419 8,016expensesTotal 996,252 885,207 111,045In 2024, the item includes net non-recurring expenses for \u20ac1,721 thousand (\u20ac4,727 thousand in 2023) mainly related to advisory and consultancy services connected to the La Marzocco/Ever-sys business combination.In 2024 the item \u201cRentals and leasing\u201d includes \u20ac1,803 thousand in commercial rights (\u20ac427 thou-sand in 2023).In addition, it includes operating costs relating to contracts that are not or do not contain a lease (\u20ac16,211 thousand, \u20ac20,897 thousand in 2023), as well as costs relating to leases of less than twelve months\u2019 duration (\u20ac1,610 thousand, \u20ac1,846 thousand in 2023) or relating to low-value assets (\u20ac1,174 thousand, \u20ac448 thousand in 2023); for further information, please refer to note 15. Leases.6. Provisions These include \u20ac25,048 thousand in provisions for contingencies and other charges and a net in-crease of \u20ac103 thousand in provision for doubtful accounts. In 2024 the item includes net non-re-curring expenses for \u20ac2,961 thousand related to corporate reorganisation. The main changes in this item are discussed in note 35. Other provisions for non-current contingencies and charges.7. Amortization The breakdown is as follows:2024 2023 ChangeAmortization of intangible 27,821 27,550 271assetsDepreciation of property, 63,259 57,343 5,916plant and equipmentDepreciation of Right of Use 26,542 23,298 3,244assetsTotal 117,622 108,191 9,431More details about amortization and depreciation can be found in the tables reporting move-ments in intangible assets and property, plant and equipment.8. Non-recurring income/(expenses)In these financial statements, some items of a non-recurring nature resulting in net expenses of \u20ac390 thousand were shown separately. This item includes the costs for services connected to the La Marzocco/Eversys business combination and the costs arising from the ongoing reorgan-ization of the company. The economic impact of the purchase price allocation stemming from the acquisitions of Capital Brands are also included.The non-recurring amounts are shown in the income statement, in the corresponding item of the statement.9. Net financial income (expenses)Net financial income and expenses are broken down by nature as follows:2024 2023 ChangeExchange differences and gains (losses) on currency (1,870) 1,970 (3,840)hedges (*)Share of profit of equity investments consolidated by 753 (589) 1,342the equity methodInterest for leasing (2,935) (1,896) (1,039)Net interests 9,295 1,200 8,095Other financial income (6,670) (3,015) (3,655)(expenses)Other net financial income (310) (3,711) 3,401(expenses)Net financial income (1,427) (2,330) 903(expenses) (*) The item includes \u20ac20 thousand relating to exchange rate losses on leases accounted for in accordance with IFRS 16 Leases.\u201cExchange differences and gains (losses) on currency hedges\u201d includes the rate differentials on currency risk hedges, as well as the exchange differences linked to consolidation.\u201cShare of profit of equity investments consolidated by the equity method\u201d includes income from the joint venture TCL/DL, dedicated to the manufacture of portable air conditioners. Interest on leases is equal to the portion of financial expenses payable matured in the reporting period on a liability, recognized in accordance with IFRS 16 Leases. For more information see note 15. Leases.\u201cNet interests\u201d includes interest received on the Group\u2019s investments for an amount of \u20ac34,751 thousand (\u20ac32,276 thousand in 2023), net of the bank interest on the Group\u2019s financial debt (re-calculated using the amortized cost method), and the cost of other financial instruments for an amount of \u20ac25,456 thousand (\u20ac31,076 thousand in 2023).\u201cOther financial income (expenses)\u201d include bank charges, financial expenses arising from the actuarial calculation of the long-term employee benefits and other financial charges for a total amount of \u20ac9,264 thousand (\u20ac5,896 thousand in 2023), net of gain arising from investments eval-uated at fair value through profit and loss for an amount of \u20ac2,594 thousand (\u20ac2,881 thousand in 2023).10. Income taxesThese are analyzed as follows:2024 2023 ChangeCurrent income taxes:- Income taxes 98,657 78,135 20,522- IRAP (Italian regional 7,161 5,923 1,238business tax)Deferred (advanced) taxes (1,394) (7,172) 5,778Total 104,424 76,886 27,538\u201cDeferred (advanced) taxes\u201d include the taxes calculated on the temporary differences arising between the accounting values of assets and liabilities and on the corresponding tax base (par-ticularly for taxed provisions recognized by the parent company and its subsidiaries) and on the distributable income of the subsidiaries.They also include the benefit arising from the carryforward of unused tax losses which are likely to be used in the future.Current income taxes reflect Pillar 2 application. Based on the information available and reasonable estimates, the De' Longhi Group\u2019s exposure to Pillar 2 income taxes at 31 December 2024 refers mainly to the United Arab Emirates, in the amount of \u20ac2.4 million. The remainder of \u20ac0.2 million is broken down into immaterial amounts, relating to different jurisdictions. The total allocation of \u20ac2.6 million was recognized in the income statement as an increase to \u201cIncome taxes\u201d and to liabilities under \u201cTax payables\u201d. The Group will continue to assess the impact that Pillar 2 income taxes will have on its future fi-nancial results.The actual and theoretical tax charge are reconciled here below:2024 % 2023 %Profit before taxes 429,374 100.0% 327,298 100.0%Theoretical taxes 103,050 24.0% 78,552 24.0%Other (*) (5,787) (1.3%) (7,589) (2.3%)Total income taxes 97,263 22.7% 70,963 21.7%IRAP (Italian regional 7,161 1.7% 5,923 1.8%business tax)Actual taxes 104,424 24.3% 76,886 23.5%(*) Mostly refers to the net tax effect of permanent differences, of different tax rates applied abroad relative to the theoretical ones applied in Italy, of adjustments on prior years taxes.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfExpensesExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__58-1": {
"value": "The figures relating to the cost of employee benefits provided by certain Group companies in Italyand abroad are reported in note 34. Employee benefits.34. Employee benefitsThese are made up as follows:31.12.2024 31.12.2023Provision for severance indemnities 12,170 7,988 Defined benefit plans 22,671 21,659 Other long term benefits 28,356 21,394 Total 63,197 51,041 The provision for severance indemnities includes amounts payable to employees of the Group's Italian companies and not transferred to supplementary pension schemes or the pension fund set up by INPS (Italy's national social security agency). This provision has been classified as a defined benefit plan, governed as such by IAS 19 \u2010 Employee benefits. Some of the Group's foreign companies provide defined benefit plans for their employees. Some of these plans have assets servicing them, but severance indemnities, as an unfunded ob-ligation, do not.These plans are valued on an actuarial basis to express the present value of the benefit payable at the end of service that employees have accrued at the reporting date.The amounts of the obligations and assets to which they refer are set out below:Provision for severance indemnities:Movements in the year are summarized below:Net cost charged to income 2024 2023 ChangeCurrent service cost 927 378 549Interest cost on defined benefit obligation 385 66 319Total 1,312 444 868Change in present value of obligations 31.12 .2024 31.12.2023 ChangePresent value at 1 January 7,988 8,040 (52)Current service cost 927 378 549Utilization of provision (1,296) (643) (653)Interest cost on obligation 385 66 319Changes in consolidation area 4,188 - 4,188Translation differences 2 - 2Actuarial gains & losses recognized in the (24) 147 (171)comprehensive income statementPresent value at reporting date 12,170 7,988 4,182Defined benefit plans:Movements in the year are as follows:Net cost charged to income 2024 2023 ChangeCurrent service cost 2,618 1,435 1,183Return on plan assets (253) (285) 32Interest cost on obligation 842 766 76Total 3,207 1,916 1,291Change in present value of obligations 31.12 .2024 31.12.2023 ChangePresent value at 1 January 21,659 17,768 3,891Net cost charged to income 3,207 1,916 1,291Benefits paid and other movements (3,366) (1,501) (1,865)Changes in consolidation area 496 - 496Translation differences (10) (178) 168Actuarial gains & losses recognized in the 685 3,654 (2,969)comprehensive income statementPresent value at reporting date 22,671 21,659 1,012The outstanding liability at 31 December 2024 of \u20ac22,671 thousand (\u20ac21,659 thousand at 31 De-cember 2023) refers to a few subsidiaries (mainly in Germany, Japan and Swiss).The assumptions used for determining the obligations under the plans described are as follows:Severance Severance Other plans Other plans Assumptions usedindemnity indemnity 2024202320242023Discount rate 3.2%-3.35% 3.20% 1.5%-3.5% 1.25%-3.6%Future salary increases 2.5%-3.0% 2.0%-3.0% 0.0%-3% 0.0%-3%Inflation rate 2.00% 2.00% 1.25%-2% 0.0% - 2.1%\u201cOther long-term benefits\u201d includes the incentive plans (Phantom Stock Plan) for personnel of newly acquired companies and the amount accrued in the reporting period for further incentive plans. These plans were approved by the Board of Directors for a limited number of the Group\u2019s key resources.For more information, please refer to Annual Report on Remuneration and Compensation Paid.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__59-1": {
"value": "The item includes \u20ac9,950 thousand relating to the notional cost (fair value) of the stock option plan 2020-2027 (\u20ac907 thousand in 2023); please refer to notes 27. Sahre-based incentive plans and 34. Employee benefits for more information.27. Share-based incentive plansThere were two share-based incentive plans in place at 31 December 2024 referred to as the \"2020-2027 Stock Option Plan\" and the \"2024-2026 Performance Shares Plan\", respectively.The \u201c2020-2027 Stock Option Plan\" was approved by shareholders of De\u2019 Longhi S.p.A. during the Annual General Meeting held on 22 April 2020.In order to service this plan, the Shareholders\u2019 Meeting approved an additional increase in share capital for up to a maximum nominal amount of \u20ac4,500,000 to be carried out through the issue of a maximum of 3,000,000 ordinary shares with a par value of \u20ac1.5 each with the same character-istics as the ordinary shares outstanding at the issue date, with voting rights, if the treasury shares were not sufficient. The aim of the plan is to encourage the loyalty of the beneficiaries, encouraging their stay in the Group, linking their remuneration to the implementation of the com-pany strategy in the medium to long term. The overall duration of the plan is about 8 years and in any case the deadline is set for 31 December 2027.The beneficiaries were identified by the Board of Directors based on the proposal of the Remu-neration and Appointments Committee or the Chief Executive Officer, after having consulted with the Board of Statutory Auditors. The options are granted free of charge: the beneficiaries, there-fore, will not be expected to pay any sort of consideration upon assignment. Conversely, exercise of the option and the resulting subscription of the shares will be subject to payment of the exer-cise price. Each option grants the right to subscribe one share at the conditions set out in the rel-ative regulations. The exercise price shall be equal to the arithmetic average of the official market price of the Company\u2019s shares recorded on the \u201cEuronext Milan\u201d managed by Borsa Italiana S.p.A. 180 calendar days prior to the date on which the 2020-2027 Plan and the relative regula-tions were approved by shareholders during the Annual General Meeting. This period of time is sufficient to limit the impact that any volatility caused by the coronavirus crisis could have on the stock price.The options may be exercised by the beneficiaries - on one or more occasions - solely and exclu-sively during the exercise period, namely during the following timeframes:\u2022 between 15 May 2023 and 31 December 2027 for up to a total maximum amount equal to 50% of the total options assigned each beneficiary, without prejudice to the black-out periods re-ferred to in Art. 12 of the Regulations;\u2022 between 15 May 2024 and 31 December 2027 for the remaining 50% of the total options as-signed each beneficiary, without prejudice to the black-out periods referred to in Art. 12 of the Regulations.Any option not exercised by the end of the exercise period will be automatically expire and the beneficiary will have no right to any compensation or indemnity.All shares will have regular dividend rights and, therefore, will be the same as all other shares outstanding at their issue date, and will be freely transferrable by the beneficiary.With some exceptions, however, the Plan provides for a holding period (which begins at the time the option is exercised) of 24 months for the options relative to the first exercise period and 12 months for the second exercise period, during which a portion of the shares acquired and/or subscribed by the beneficiary by exercising the option, is subject to restrictions on sales and/or transfers.Please refer to the Annual Report on the Remuneration Policy and Compensation Paid for more information on the Plan.For the purposes of valuation under IFRS 2 - Share-based payments, two different tranches were defined for each award that contain the same number of options broken down equally into the plan\u2019s two exercise periods. The fair value of each tranche is different. The fair value of the stock options at the assignment date is determined using the Black-Scholes model that takes into ac-count the conditions for the exercise of the right, the current share price, expected volatility, a risk-free interest rate, as well as the non-vesting conditions.Volatility is estimated based on the data of a market information provider and corresponds to the estimated volatility of the stock over the life of the plan.The fair value of the options assigned on the date of this Report and the assumptions made for its evaluation are as follows:Award (04.05.2020) Award (14.05.2020) Award (15.05.2020) Award (20.05.2020) Award (05.11.2020)First tranche fair value 4.4283 4.591 4.4598 4.4637 12.402Second tranche fair value 4.3798 4.536 4.4034 4.4049 12.0305Expected dividends (Euro) 2.8% 2.8% 2.8% 2.8% 2.8%Estimated volatility (%) 35.0% 34.0% 33.0% 32.0% 28.0%Historic volatility (%) 37.0% 37.0% 37.0% 37.0% 37.0%Market interest rate (0.2%) (0.2%) (0.2%) (0.2%) (0.2%)Expected life of the options (years) 7.7 7.7 7.7 7.7 7.7Exercise price (Euro) 16.982 16.982 16.982 16.982 16.982At 31 December 2023, 1,089,650 options had been assigned under the \u201c2020-2027 Stock Option Plan\"; during the year 2024 the amount dropped to 340,999 following the exercise of 748,651 op-tions, serviced for 595,000 by treasury shares and for the remaining 153,651 by newly issued shares.The \u201c2024-2026 Performance Share Plan\" was approved by shareholders of De\u2019 Longhi S.p.A. during the Annual General Meeting held on 19 April 2024.The Plan is reserved for the Chief Executive Officer and General Manager of the parent company De\u2019Longhi S.p.A., as well as a limited number of top managers of the Group identified by the Board of Directors, as proposed by the Remuneration and Appointments Committee, after having consulted with the Board of Statutory Auditors as deemed appropriate.The purpose of the plan is to incentivize the beneficiaries to maximize the Group\u2019s medium/long-term performance by creating a rewarding, equitable and sustainable remuneration system con-sistent with regulatory standards and the stakeholder\u2019s expectations.The Plan calls for the free assignment of up a maximum of 1,200,000 rights, each one of which entitles the beneficiary to 1 De\u2019 Longhi share for each right assigned, subject to the achievement of certain predetermined performance targets (measured at the end of the three-year vesting period 2024-2025-2026 and linked to the De\u2019 Longhi Group\u2019s medium/long-term growth in value and profitability), as well as based on conditions defined in the Plan.The Plan will be serviced using the Company\u2019s treasury shares or, if not sufficient, shares from a free capital increase, issued on one or more occasions, for a maximum nominal amount of \u20ac1,800,000.00 and for a maximum of 1,200,000 shares, as per the power granted specifically by the shareholders to the Board of Directors.The shares will be assigned after the Annual General Meeting held to approve the separate financial statements at 31 December 2026 and acknowledge the Group\u2019s 2026 Consolidated Annual Report.The Plan will be terminated in 2029, once the 24-month lock-up on 50% of the shares assigned has ended.For the purposes of valuation, in accordance with IFRS 2 - Share-based Payment, the unit fair value of the plan was calculated as the value of the right on the assignment date based on the Black-Scholes model which takes into account the option exercise conditions, the current value of the share, the estimated volatility, the risk-free interest rate and the non-vesting conditions.Volatility was estimated using information provided by a data provider and corresponds to the stock\u2019s estimated volatility over the life of the plan.The fair value of the options assigned and the underlying assumptions used in the valuation are provided below:First awardAverage fair value 27.68Expected dividends 2.45%Historic volatility (%) 34.63%Market interest rate 3.1%Expected life of the options (years) 3.15 Exercise price (Euro) -Based on the information available, an estimated 861,473 rights were outstanding at 31 Decem-ber 2024.The \u201cStock Option Reserve\u201d refers to the share-based incentive plan \u201cStock Option Plan 2020-2027\u201d and the \u201cPerformance Share Plan 2024-2026\u201d already described in note 27. Share-based incentive plans.At 31 December 2024 the reserve amounts to \u20ac7,781 thousand, which corresponds to the fair value of the options at the assignment date, recognized on a straight-line basis from the grant date through vesting. The reserve for the \u201cStock Option Plan 2020-2027\u201damounted to \u20ac5,695 thousand at 31 December 2023 and \u20ac2,163 thousand at 31 December 2024; the difference is attributable to the allocation of the \u20ac366 thousand stemming from the fair value measurement of the existing options net exer-cises in the period.The reserve for the \u201cPerformance Share Plan 2024-2026\u201d, which amounted to \u20ac5,618 thousand at 31 December 2024, was allocated entirely during 2024 following the fair value measurement of the existing options.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__60": {
"value": "The average size of the Group\u2019s workforce during the year is analyzed as follows:2024 2023Blue collars 6,798 6,437White collars 3,557 3,185Managers 376 304Total 10,731 9,926",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__61-1": {
"value": "In 2024 the item \u201cRentals and leasing\u201d includes \u20ac1,803 thousand in commercial rights (\u20ac427 thou-sand in 2023).In addition, it includes operating costs relating to contracts that are not or do not contain a lease (\u20ac16,211 thousand, \u20ac20,897 thousand in 2023), as well as costs relating to leases of less than twelve months\u2019 duration (\u20ac1,610 thousand, \u20ac1,846 thousand in 2023) or relating to low-value assets (\u20ac1,174 thousand, \u20ac448 thousand in 2023); for further information, please refer to note 15. Leases.Interest on leases is equal to the portion of financial expenses payable matured in the reporting period on a liability, recognized in accordance with IFRS 16 Leases. For more information see note 15. Leases.15. LeasingExisting leases are functional to the Group\u2019s operations and refer mainly to the leasing of proper-ties, automobiles and other capital goods.Movements in the leased right of use assets in 2024 are shown below:Industrial Land and and Plant and Other Totalbuildingscommercial machineryequipmentNet opening balance 85,803 2,143 2,137 6,342 96,425Additions 20,611 1,176 10 4,250 26,047Disposals (343) (101) - (153) (597)Amortization (22,377) (620) (229) (3,316) (26,542)Changes in consolidation 11,410 - 205 134 11,749areaTranslation differences and 675 56 1 141 873other movements Net closing balance 95,779 2,654 2,124 7,398 107,955In 2024, the result for the period includes depreciation and amortization for \u20ac26,542 thousand, interest payable for \u20ac2,935 thousand and exchange gains for \u20ac20 thousand, while \u20ac27,586 thou-sand in lease payments were reversed.At 31 December 2024 financial liabilities for leases of \u20ac110,411 thousand (of which \u20ac84,202 thou-sand expiring beyond 12 months) and financial assets for advanced payments of \u20ac428 thousand, included in \u201cCurrent financial receivables and assets\u201d, were recognized in the financial statements (please refer to note 24)The maturities of the undiscounted lease liabilities (based on contractual payments) are shown below:Undiscounted Payable Payable in Payable in 1-5 flows at within one more than years31.12.2024yearfive years Lease liabilities 120,130 28,768 69,632 21,730The adoption of IFRS 16 - Lease negatively affected Group net equity at 31 December 2024 for \u20ac2,813 thousand.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLeasesExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__62": {
"value": "6. Provisions These include \u20ac25,048 thousand in provisions for contingencies and other charges and a net in-crease of \u20ac103 thousand in provision for doubtful accounts. In 2024 the item includes net non-re-curring expenses for \u20ac2,961 thousand related to corporate reorganisation. The main changes in this item are discussed in note 35. Other provisions for non-current contingencies and charges.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__63": {
"value": "7. Amortization The breakdown is as follows:2024 2023 ChangeAmortization of intangible 27,821 27,550 271assetsDepreciation of property, 63,259 57,343 5,916plant and equipmentDepreciation of Right of Use 26,542 23,298 3,244assetsTotal 117,622 108,191 9,431More details about amortization and depreciation can be found in the tables reporting move-ments in intangible assets and property, plant and equipment.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__64": {
"value": "9. Net financial income (expenses)Net financial income and expenses are broken down by nature as follows:2024 2023 ChangeExchange differences and gains (losses) on currency (1,870) 1,970 (3,840)hedges (*)Share of profit of equity investments consolidated by 753 (589) 1,342the equity methodInterest for leasing (2,935) (1,896) (1,039)Net interests 9,295 1,200 8,095Other financial income (6,670) (3,015) (3,655)(expenses)Other net financial income (310) (3,711) 3,401(expenses)Net financial income (1,427) (2,330) 903(expenses) (*) The item includes \u20ac20 thousand relating to exchange rate losses on leases accounted for in accordance with IFRS 16 Leases.\u201cExchange differences and gains (losses) on currency hedges\u201d includes the rate differentials on currency risk hedges, as well as the exchange differences linked to consolidation.\u201cShare of profit of equity investments consolidated by the equity method\u201d includes income from the joint venture TCL/DL, dedicated to the manufacture of portable air conditioners. Interest on leases is equal to the portion of financial expenses payable matured in the reporting period on a liability, recognized in accordance with IFRS 16 Leases. For more information see note 15. Leases.\u201cNet interests\u201d includes interest received on the Group\u2019s investments for an amount of \u20ac34,751 thousand (\u20ac32,276 thousand in 2023), net of the bank interest on the Group\u2019s financial debt (re-calculated using the amortized cost method), and the cost of other financial instruments for an amount of \u20ac25,456 thousand (\u20ac31,076 thousand in 2023).\u201cOther financial income (expenses)\u201d include bank charges, financial expenses arising from the actuarial calculation of the long-term employee benefits and other financial charges for a total amount of \u20ac9,264 thousand (\u20ac5,896 thousand in 2023), net of gain arising from investments eval-uated at fair value through profit and loss for an amount of \u20ac2,594 thousand (\u20ac2,881 thousand in 2023).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__65-1": {
"value": "\u201cShare of profit of equity investments consolidated by the equity method\u201d includes income from the joint venture TCL/DL, dedicated to the manufacture of portable air conditioners.16. Equity investmentsDetails of equity investments are as follows: 31.12.2024 31.12.2023Equity investments consolidated using the 5,170 4,243equity methodInvestment measured at fair value 53 51Total 5,223 4,294\u201cEquity investments consolidated using the equity method\u201d refers to the equity investments sub-ject to joint control as per contractual agreements and associated companies, accounted for using the equity method in accordance with IAS 28 - Investments in associates and joint venture.The changes in 2024 are shown below:31.12.2024Net opening balance 4,243Interest in net profit 753Exchange rate differences 174Net closing balance 5,170",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__67": {
"value": "\u201cNet interests\u201d includes interest received on the Group\u2019s investments for an amount of \u20ac34,751 thousand (\u20ac32,276 thousand in 2023), net of the bank interest on the Group\u2019s financial debt (re-calculated using the amortized cost method), and the cost of other financial instruments for an amount of \u20ac25,456 thousand (\u20ac31,076 thousand in 2023).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__68": {
"value": "10. Income taxesThese are analyzed as follows:2024 2023 ChangeCurrent income taxes:- Income taxes 98,657 78,135 20,522- IRAP (Italian regional 7,161 5,923 1,238business tax)Deferred (advanced) taxes (1,394) (7,172) 5,778Total 104,424 76,886 27,538\u201cDeferred (advanced) taxes\u201d include the taxes calculated on the temporary differences arising between the accounting values of assets and liabilities and on the corresponding tax base (par-ticularly for taxed provisions recognized by the parent company and its subsidiaries) and on the distributable income of the subsidiaries.They also include the benefit arising from the carryforward of unused tax losses which are likely to be used in the future.Current income taxes reflect Pillar 2 application. Based on the information available and reasonable estimates, the De' Longhi Group\u2019s exposure to Pillar 2 income taxes at 31 December 2024 refers mainly to the United Arab Emirates, in the amount of \u20ac2.4 million. The remainder of \u20ac0.2 million is broken down into immaterial amounts, relating to different jurisdictions. The total allocation of \u20ac2.6 million was recognized in the income statement as an increase to \u201cIncome taxes\u201d and to liabilities under \u201cTax payables\u201d. The Group will continue to assess the impact that Pillar 2 income taxes will have on its future fi-nancial results.The actual and theoretical tax charge are reconciled here below:2024 % 2023 %Profit before taxes 429,374 100.0% 327,298 100.0%Theoretical taxes 103,050 24.0% 78,552 24.0%Other (*) (5,787) (1.3%) (7,589) (2.3%)Total income taxes 97,263 22.7% 70,963 21.7%IRAP (Italian regional 7,161 1.7% 5,923 1.8%business tax)Actual taxes 104,424 24.3% 76,886 23.5%(*) Mostly refers to the net tax effect of permanent differences, of different tax rates applied abroad relative to the theoretical ones applied in Italy, of adjustments on prior years taxes.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__69-1": {
"value": "\u201cDeferred (advanced) taxes\u201d include the taxes calculated on the temporary differences arising between the accounting values of assets and liabilities and on the corresponding tax base (par-ticularly for taxed provisions recognized by the parent company and its subsidiaries) and on the distributable income of the subsidiaries.They also include the benefit arising from the carryforward of unused tax losses which are likely to be used in the future.19. Deferred tax assets and deferred tax liabilitiesDeferred tax assets and deferred tax liabilities are analyzed as follows:31.12.2024 31.12.2023Deferred tax assets 74,177 60,413Deferred tax liabilities (112,758) (72,164)Net closing balance (38,581) (11,751)\"Deferred tax assets\" and \"Deferred tax liabilities\" include the taxes calculated on temporary dif-ferences between the carrying amount of assets and liabilities and their corresponding tax base (particularly taxed provisions recognized by the parent company and its subsidiaries), the tax ef-fects associated with the allocation of higher values to fixed assets as a result of allocating con-solidation differences based on the applicable tax rate and the deferred taxes on the distributable income of subsidiaries. Deferred tax assets are calculated mainly on provisions and consolida-tion adjustments. They also include the benefit arising from the carryforward of unused tax losses which are likely to be used in the future.Leasing and other transactions which upon initial recognition result in taxable and deductible dif-ferences of the same amount include deferred tax assets of \u20ac13,266 thousand reported net of the deferred tax liabilities of \u20ac12,592 thousandThe net balance is analyzed as follows:31.12.2024 31.12.2023Temporary differences (40,704) (16,536)Tax losses 2,123 4,785Net closing balance (38,581) (11,751)The change in the net asset balance reflects a decrease of \u20ac1,018 thousand through equity rec-ognized in the \u201cFair value and cash flow hedge reserve\u201d following the fair value measurement of securities and cash flow hedges, and an increase of \u20ac33 thousand recognized in \u201cProfit (loss) carried forward\u201d relating to the actuarial gains and (losses) recognized in the comprehensive income statement in accordance with IAS 19 - Employee benefits.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__71": {
"value": "11. Goodwill31.12.2024 31.12.2023Gross Net Gross NetGoodwill 700,955 694,208 378,433 371,686The change in \u201cGoodwill\u201d refers to the recent La Marzocco business combination for \u20ac300,763 thousand (for more information refer to the section \u201cChange in the scope of consolidation\u201d) and, for the remainder, to the impact that currency exchange had on the goodwill recognized for inter-national acquisitions at 31 December 2024.Goodwill is not amortized because it is considered to have an indefinite useful life. Instead, it is tested for impairment at least once a year to identify any evidence of loss in value. For the purposes of impairment testing, goodwill is allocated to the CGUs (cash generating units), namely the historic divisions De\u2019Longhi, Kenwood and Braun, as well as the more recently ac-quired Capital Brands and Eversys, and finally La Marzocco during 2024, as follows:Cash-generating unit 31.12.2024De'Longhi 25,162Kenwood 17,120Braun 48,836Capital Brands 194,794Eversys 95,853La Marzocco 312,443Total 694,208The objective of the impairment test is to determine the value in use of the CGU to which the goodwill refers, meaning the present value of the future cash flows expected to be derived from continuous use of the assets; any cash flows arising from extraordinary events are therefore ignored. More specifically, value in use is determined by applying the discounted cash flow method to forecast cash flows contained in plans prepared assuming growth scenarios based on the information available at the reporting date, including the 2025 budget and the 2024-2026 Plan approved by the Board of Directors and integrated, solely in specific situations, with updated con-siderations which take into account commercial actions determined subsequent to the approval of the plan. Plan data was projected beyond the explicit planning period, of not more than five years, determined based on common valuation practices, namely using a perpetuity growth rate that was no higher than those expected for the markets in which the individual CGUs operate. The growth rate in termi-nal values used for projecting beyond the planning period was therefore in a range of 2.1% to 2.4% for the different CGUs, deemed representative of a precautionary growth rate in terminal values.The cash flows and discount rate were determined net of tax.Discount rates were calculated using the Weighted Average Cost of Capital (WACC) obtained from data from a sample of comparable companies.The discount rates utilized, which vary between 5.8% and 8.1% for the different cash-generating units, therefore, reflect the estimated market valuations and the time value of money at the re-porting date, as well as sector risks.The impairment tests carried out at the end of 2024 have not revealed any other significant evi-dence of goodwill impairment.The recoverable amounts shown in the impairment tests and the sensitivity analysis are much higher than book value for all the CGUs.The results obtained using the discounted cash flow method have been tested for their sensitivity to changes in certain key variables, within reasonable ranges and on the basis of mutually con-sistent assumptions. The variables altered were the discount rate (between 5.6% and 8.3%) and the growth rate in terminal value (in the range 1.9%-2.6%).The estimated recoverable amounts for all the CGUs, however, were higher than book value and the sensitivity analyses point to relatively stable results; in fact, the minimum and maximum amounts diverged by around 10% from the central point when both variables were altered.Group Board of Directors approved the assumptions and the criteria used to perform the impair-ment tests.However, estimating CGU recoverable amount requires management to make discretionary judgements and estimates. In fact, several factors also associated with developments in the diffi-cult market context could make it necessary to reassess the value of goodwill. The Group will be constantly monitoring those events and circumstances that might make it necessary to perform new impairment tests.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGoodwillExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__70": {
"value": "11. Goodwill31.12.2024 31.12.2023Gross Net Gross NetGoodwill 700,955 694,208 378,433 371,686The change in \u201cGoodwill\u201d refers to the recent La Marzocco business combination for \u20ac300,763 thousand (for more information refer to the section \u201cChange in the scope of consolidation\u201d) and, for the remainder, to the impact that currency exchange had on the goodwill recognized for inter-national acquisitions at 31 December 2024.Goodwill is not amortized because it is considered to have an indefinite useful life. Instead, it is tested for impairment at least once a year to identify any evidence of loss in value. For the purposes of impairment testing, goodwill is allocated to the CGUs (cash generating units), namely the historic divisions De\u2019Longhi, Kenwood and Braun, as well as the more recently ac-quired Capital Brands and Eversys, and finally La Marzocco during 2024, as follows:Cash-generating unit 31.12.2024De'Longhi 25,162Kenwood 17,120Braun 48,836Capital Brands 194,794Eversys 95,853La Marzocco 312,443Total 694,208The objective of the impairment test is to determine the value in use of the CGU to which the goodwill refers, meaning the present value of the future cash flows expected to be derived from continuous use of the assets; any cash flows arising from extraordinary events are therefore ignored. More specifically, value in use is determined by applying the discounted cash flow method to forecast cash flows contained in plans prepared assuming growth scenarios based on the information available at the reporting date, including the 2025 budget and the 2024-2026 Plan approved by the Board of Directors and integrated, solely in specific situations, with updated con-siderations which take into account commercial actions determined subsequent to the approval of the plan. Plan data was projected beyond the explicit planning period, of not more than five years, determined based on common valuation practices, namely using a perpetuity growth rate that was no higher than those expected for the markets in which the individual CGUs operate. The growth rate in termi-nal values used for projecting beyond the planning period was therefore in a range of 2.1% to 2.4% for the different CGUs, deemed representative of a precautionary growth rate in terminal values.The cash flows and discount rate were determined net of tax.Discount rates were calculated using the Weighted Average Cost of Capital (WACC) obtained from data from a sample of comparable companies.The discount rates utilized, which vary between 5.8% and 8.1% for the different cash-generating units, therefore, reflect the estimated market valuations and the time value of money at the re-porting date, as well as sector risks.The impairment tests carried out at the end of 2024 have not revealed any other significant evi-dence of goodwill impairment.The recoverable amounts shown in the impairment tests and the sensitivity analysis are much higher than book value for all the CGUs.The results obtained using the discounted cash flow method have been tested for their sensitivity to changes in certain key variables, within reasonable ranges and on the basis of mutually con-sistent assumptions. The variables altered were the discount rate (between 5.6% and 8.3%) and the growth rate in terminal value (in the range 1.9%-2.6%).The estimated recoverable amounts for all the CGUs, however, were higher than book value and the sensitivity analyses point to relatively stable results; in fact, the minimum and maximum amounts diverged by around 10% from the central point when both variables were altered.Group Board of Directors approved the assumptions and the criteria used to perform the impair-ment tests.However, estimating CGU recoverable amount requires management to make discretionary judgements and estimates. In fact, several factors also associated with developments in the diffi-cult market context could make it necessary to reassess the value of goodwill. The Group will be constantly monitoring those events and circumstances that might make it necessary to perform new impairment tests.12. Other intangible assetsThese are analyzed as follows:31.12.2024 31.12.2023Gross Net Gross NetNew product development 167,368 25,812 152,825 22,681costsPatents 118,780 62,781 85,162 35,705Trademarks and similar rights 530,894 423,650 441,475 334,484Work in progress and 27,016 25,796 22,772 21,552advancesOther 144,335 91,079 135,881 92,222Total 988,393 629,118 838,115 506,644The following table reports movements in the main asset categories during 2024:New Trade-Work in product marks progress develop-Patentsand Other Totaland ment similar advancescostsrightsNet opening balance 22,681 35,705 334,484 21,552 92,222 506,644Additions 1,311 856 202 14,251 1,221 17,8 41Amortization (11,430) (6,542) (252) - (9,597) (27,821)Changes in consolida-- 32,040 79,103 3,442 1,734 116,319tion areaTranslation differences and other movements 13,250 722 10,113 (13,449) 5,499 16,135(*)Net closing balance 25,812 62,781 423,650 25,796 91,079 629,118(*) \u201cOther movements\u201d refers primarily to the reclassification of intangible assets.The principal additions refer to the capitalization of new product development projects, based on detailed reporting and analysis of the costs incurred and the estimated future usefulness of such projects.The Group has capitalized a total of \u20ac14,253 thousand in development costs as intangible assets in 2024, of which \u20ac1,311 thousand in \u201cNew product development costs\u201d for projects already com-pleted at the reporting date and \u20ac12,942 thousand in \u201cWork in progress and advances\u201d for pro-jects still in progress.\u201cPatents\u201d mostly refers to the value of industrial patent rights and to costs for developing and inte-grating data processing systems. The increase refers primarily to the purchase of patents used in professional coffee machine segment.\u201cTrademarks and similar rights\u201d includes a few trademarks calculated based on an indefinite useful life in accordance with IAS 38, taking into account, above all, brand awareness, economic benefits, reference market characteristics, brand specific strategies and the amount of invest-ments made to sustain the brands: \u20ac79.8 million for the \u201cDe\u2019 Longhi\u201d trademark, \u20ac95.0 million for the perpetual license over the \u201cBraun\u201d brand, \u20ac127.6 million for the Nutribullet/MagicBullet trade-mark, \u20ac38.6 million for the Eversys trademark, and \u20ac81.8 million for the La Marzocco trademark.The impairment test carried out at the end of 2024 for brands with an indefinite useful life, in order to confirm the result of the impairment test already conducted to verify the invested capital allocated to each CGU (described in note 11. Goodwill), did not reveal any evidence that these assets might have suffered an impairment loss.The method used to test impairment involves discounting to present value the royalties that the Group would be able to earn from permanently granting third parties the right to use the trade-marks in question.This method, which is based on royalty cash flows and reasonably estimated sales volumes, is the most commonly used for company valuation purposes since it is able to provide a suitable expression of the relationship between the strength of the trademark and business profitability.The discount rates used, which vary between 6.6% and 8.9% net of tax, reflect market valuations and the time value of money at the reporting date. The growth rate in terminal values used for projecting beyond the planning period was in a range from 2.1% to 2.4% for the different CGUs, deemed representative of a precautionary growth rate in terminal values.The cash flows discounted to present value are stated net of tax (in keeping with the discount rate).The results of the impairment test have been tested for their sensitivity to changes in certain key variables, within reasonable ranges and on the basis of mutually consistent assumptions. The variables altered were the discount rate (between 6.4% and 9.1%) and the growth rate in terminal value (in the range 1.9%-2.6%).The sensitivity analysis using actuarial (changes in the discount and growth rates) revealed rela-tively stable results; in fact, the minimum and maximum amounts had a deviation of around 10% when both variables were changed.\u201cOther intangible assets\u201d is explained primarily by the value of the portfolio recognized following allocation of the purchase price to Capital Brands, subject to amortization based on the estimat-ed useful life.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__72": {
"value": "12. Other intangible assetsThese are analyzed as follows:31.12.2024 31.12.2023Gross Net Gross NetNew product development 167,368 25,812 152,825 22,681costsPatents 118,780 62,781 85,162 35,705Trademarks and similar rights 530,894 423,650 441,475 334,484Work in progress and 27,016 25,796 22,772 21,552advancesOther 144,335 91,079 135,881 92,222Total 988,393 629,118 838,115 506,644The following table reports movements in the main asset categories during 2024:New Trade-Work in product marks progress develop-Patentsand Other Totaland ment similar advancescostsrightsNet opening balance 22,681 35,705 334,484 21,552 92,222 506,644Additions 1,311 856 202 14,251 1,221 17,8 41Amortization (11,430) (6,542) (252) - (9,597) (27,821)Changes in consolida-- 32,040 79,103 3,442 1,734 116,319tion areaTranslation differences and other movements 13,250 722 10,113 (13,449) 5,499 16,135(*)Net closing balance 25,812 62,781 423,650 25,796 91,079 629,118(*) \u201cOther movements\u201d refers primarily to the reclassification of intangible assets.The principal additions refer to the capitalization of new product development projects, based on detailed reporting and analysis of the costs incurred and the estimated future usefulness of such projects.The Group has capitalized a total of \u20ac14,253 thousand in development costs as intangible assets in 2024, of which \u20ac1,311 thousand in \u201cNew product development costs\u201d for projects already com-pleted at the reporting date and \u20ac12,942 thousand in \u201cWork in progress and advances\u201d for pro-jects still in progress.\u201cPatents\u201d mostly refers to the value of industrial patent rights and to costs for developing and inte-grating data processing systems. The increase refers primarily to the purchase of patents used in professional coffee machine segment.\u201cTrademarks and similar rights\u201d includes a few trademarks calculated based on an indefinite useful life in accordance with IAS 38, taking into account, above all, brand awareness, economic benefits, reference market characteristics, brand specific strategies and the amount of invest-ments made to sustain the brands: \u20ac79.8 million for the \u201cDe\u2019 Longhi\u201d trademark, \u20ac95.0 million for the perpetual license over the \u201cBraun\u201d brand, \u20ac127.6 million for the Nutribullet/MagicBullet trade-mark, \u20ac38.6 million for the Eversys trademark, and \u20ac81.8 million for the La Marzocco trademark.The impairment test carried out at the end of 2024 for brands with an indefinite useful life, in order to confirm the result of the impairment test already conducted to verify the invested capital allocated to each CGU (described in note 11. Goodwill), did not reveal any evidence that these assets might have suffered an impairment loss.The method used to test impairment involves discounting to present value the royalties that the Group would be able to earn from permanently granting third parties the right to use the trade-marks in question.This method, which is based on royalty cash flows and reasonably estimated sales volumes, is the most commonly used for company valuation purposes since it is able to provide a suitable expression of the relationship between the strength of the trademark and business profitability.The discount rates used, which vary between 6.6% and 8.9% net of tax, reflect market valuations and the time value of money at the reporting date. The growth rate in terminal values used for projecting beyond the planning period was in a range from 2.1% to 2.4% for the different CGUs, deemed representative of a precautionary growth rate in terminal values.The cash flows discounted to present value are stated net of tax (in keeping with the discount rate).The results of the impairment test have been tested for their sensitivity to changes in certain key variables, within reasonable ranges and on the basis of mutually consistent assumptions. The variables altered were the discount rate (between 6.4% and 9.1%) and the growth rate in terminal value (in the range 1.9%-2.6%).The sensitivity analysis using actuarial (changes in the discount and growth rates) revealed rela-tively stable results; in fact, the minimum and maximum amounts had a deviation of around 10% when both variables were changed.\u201cOther intangible assets\u201d is explained primarily by the value of the portfolio recognized following allocation of the purchase price to Capital Brands, subject to amortization based on the estimat-ed useful life.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__73": {
"value": "The principal additions refer to the capitalization of new product development projects, based on detailed reporting and analysis of the costs incurred and the estimated future usefulness of such projects.The Group has capitalized a total of \u20ac14,253 thousand in development costs as intangible assets in 2024, of which \u20ac1,311 thousand in \u201cNew product development costs\u201d for projects already com-pleted at the reporting date and \u20ac12,942 thousand in \u201cWork in progress and advances\u201d for pro-jects still in progress.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfResearchAndDevelopmentExpenseExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__74": {
"value": "13. Land, property, plant and machineryThese are analyzed as follows: 31.12.2024 31.12.2023Gross Net Gross NetLand and buildings 291,329 213,895 219,496 156,781Plant and machinery 217,421 86,444 186,474 69,976Total 508,750 300,339 405,970 226,757The following table reports movements during 2024:Plant and Land and buildingsTotalmachineryNet opening balance 156,781 69,976 226,757Additions 4,913 15,893 20,806Disposals (9) (145) (154)Amortization (9,968) (12,538) (22,506)Changes in consolidation 25,412 7,415 32,827areaTranslation differences and 36,766 5,843 42,609other movementsNet closing balance 213,895 86,444 300,339The increases and other movement in \u201cLand and buildings\u201d refer mainly to the investments made to complete structural work at the Treviso headquarters, and improvements made in manufactur-ing, namely enhancement of the production plants in Romania, the expansion of Eversys\u2019s Swiss plant and improvements at La Marzocco\u2019s production facilities.The increases and other movements in \u201cLand and Building\u201d relate primarily to investments related to the premises in Treviso for the headquarter and to the industrial plants, namely the improve-ments to the production plants in Romania, to the Eversys\u2019 factory in Switzerland and to La Mar-zocco industrial sites.The investments in \u201cPlants and machinery\u201d refer mainly to increases of the production lines for coffee machine in Italy and to the purchases of machinery for the plants in Romania and China. The other movements refer mainly to the reclassification of the amount relating to the invest-ments made in the previous years in the production plants previously classified under tangible assets in progress.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__75-1": {
"value": "14. Other tangible assetsOther tangible assets are analyzed as follows:31.12.2024 31.12.2023Gross Net Gross NetIndustrial and commercial 433,783 71,362 394,534 70,580equipmentOther 105,863 26,707 95,252 21,789Work in progress and 54,243 54,243 62,430 62,430advancesTotal 593,889 152,312 552,216 154,799The following table reports movements during 2024:Industrial and Work in commercial Otherprogress and TotalequipmentadvancesNet opening balance 70,580 21,789 62,430 154,799Additions 19,759 12,682 32,390 64,831Disposals (508) (218) (277) (1,003)Amortization (30,460) (10,293) - (40,753)Changes in consolidation 6,864 1,538 7,451 15,853areaTranslation differences and 5,127 1,209 (47,751) (41,415)other movementsNet closing balance 71,362 26,707 54,243 152,312The additions to \"Industrial and commercial equipment\" refer primarily to the purchase of mouldsfor the manufacturing of new products.The increase in \u201cWork in progress\u201d refers mainly to the development plan for the headquartersand investments in improvements at the plants in Switzerland, Romania and China.17. Non-current receivablesThe balance at 31 December 2024 of \u20ac5,721 thousand mainly refers to security deposits (\u20ac5,400 thousand at 31 December 2023).18. Other non-current financial assetsThis item includes investments made as part of the Group\u2019s liquidity management with primary counterparts, namely financial assets that will be held until maturity consistent with the business model objective to receive contractual cash flows (principal and interest) at specific maturities which were, therefore, accounted for using the amortized cost method.The item mainly includes \u20ac30,191 thousand relating to three bonds with a total nominal value of \u20ac30,000 thousand, maturing in 2026 and 2027, and \u20ac100,327 thousand relating to four floating rate notes, maturing in 2026 and 2027 with semi-annual and quarterly coupons (par value of \u20ac100,200 thousand).No signs of impairment emerged about the balances recognized in the financial statements.19. Deferred tax assets and deferred tax liabilitiesDeferred tax assets and deferred tax liabilities are analyzed as follows:31.12.2024 31.12.2023Deferred tax assets 74,177 60,413Deferred tax liabilities (112,758) (72,164)Net closing balance (38,581) (11,751)\"Deferred tax assets\" and \"Deferred tax liabilities\" include the taxes calculated on temporary dif-ferences between the carrying amount of assets and liabilities and their corresponding tax base (particularly taxed provisions recognized by the parent company and its subsidiaries), the tax ef-fects associated with the allocation of higher values to fixed assets as a result of allocating con-solidation differences based on the applicable tax rate and the deferred taxes on the distributable income of subsidiaries. Deferred tax assets are calculated mainly on provisions and consolida-tion adjustments. They also include the benefit arising from the carryforward of unused tax losses which are likely to be used in the future.Leasing and other transactions which upon initial recognition result in taxable and deductible dif-ferences of the same amount include deferred tax assets of \u20ac13,266 thousand reported net of the deferred tax liabilities of \u20ac12,592 thousandThe net balance is analyzed as follows:31.12.2024 31.12.2023Temporary differences (40,704) (16,536)Tax losses 2,123 4,785Net closing balance (38,581) (11,751)The change in the net asset balance reflects a decrease of \u20ac1,018 thousand through equity rec-ognized in the \u201cFair value and cash flow hedge reserve\u201d following the fair value measurement of securities and cash flow hedges, and an increase of \u20ac33 thousand recognized in \u201cProfit (loss) carried forward\u201d relating to the actuarial gains and (losses) recognized in the comprehensive income statement in accordance with IAS 19 - Employee benefits.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherNoncurrentAssetsExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__79-1": {
"value": "18. Other non-current financial assetsThis item includes investments made as part of the Group\u2019s liquidity management with primary counterparts, namely financial assets that will be held until maturity consistent with the business model objective to receive contractual cash flows (principal and interest) at specific maturities which were, therefore, accounted for using the amortized cost method.The item mainly includes \u20ac30,191 thousand relating to three bonds with a total nominal value of \u20ac30,000 thousand, maturing in 2026 and 2027, and \u20ac100,327 thousand relating to four floating rate notes, maturing in 2026 and 2027 with semi-annual and quarterly coupons (par value of \u20ac100,200 thousand).No signs of impairment emerged about the balances recognized in the financial statements.24. Current financial receivables and assets\"Current financial receivables and assets\" are analyzed as follows: 31.12.2024 31.12.2023Fair value of derivatives 15,400 12,507Advances for leasing contracts 428 220Fair value of other current financial assets 70,515 68,163Other current financial assets 107,770 91,582Total 194,113 172,472More details on the fair value of derivatives can be found in note 42. Risk management.\u201cOther current financial assets\u201d includes the amount of investments made as part of liquiditymanagement measured at fair value.40. Ifrs 7 classification of financial assets and liabilitiesFinancial assets and liabilities are classified below in accordance with IFRS 7 using the catego-ries identified in IFRS 9.Assetsat 31 December 2024 TotalAmortized cost Fair value in Profit&Loss Fair value in OCINon-current assets (*)Equity investments 53 - 53 -Receivables 5,721 5,721 - -Other non\u2010current financial assets 131,254 131,254 - -Current assets (**)Trade receivables 336,145 336,145 - -Current tax assets 11,341 11,341 - -Other receivables 52,659 52,659 - -Current financial receivables and assets 193,685 107,770 75,224 10,691Cash and cash equivalents 1,019,711 1,019,711 - -Liabilitiesat 31 December 2024 TotalAmortized cost Fair value in Profit&Loss Fair value in OCINon\u2010current liabilities (***)Bank loans and borrowings (long\u2010term portion) 227,988 227,988 - -Other financial payables (long\u2010term portion) 193,581 193,581 - -Current liabilities (****)Trade payables 873,139 873,139 - -Bank loans and borrowings (short\u2010term 94,246 94,246 - -portion)Other financial payables (short\u2010term portion) 75,617 66,094 3,373 6,150Current tax liabilities 75,821 75,821 - -Other payables 169,976 169,976 - -(*) Interests in subsidiaries. associates and joint ventures are not included (IFRS 9 - 2.1 a).(**) Advances for leasing contracts are not included (IFRS 9 - 2.1 b).(***) Lease liabilities under IFRS 16 (IFRS 9.-2.1b) are not included.(****) Lease liabilities to which IFRS 16 Leases is applied (IFRS 9 - 2.1 b) are not included.The value of financial assets/liabilities at amortized cost does not differ significantly from their fair value.Assetsat 31 December 2023 TotalAmortized cost Fair value in Profit&Loss Fair value in OCINon-current assets (*)Equity investments 51 - 51 -Receivables 5,400 5,400 - -Other non\u2010current financial assets 122,031 122,031 - -Current assets (**)Trade receivables 272,692 272,692 - -Current tax assets 20,244 20,244 - -Other receivables 43,695 43,695 - -Current financial receivables and assets 172,252 91,582 76,066 4,604Cash and cash equivalents 1,250,198 1,250,198 - -Liabilitiesat 31 December 2023 TotalAmortized cost Fair value in Profit&Loss Fair value in OCINon\u2010current liabilities (***)Bank loans and borrowings (long\u2010term portion) 300,844 300,844 - -Other financial payables (long\u2010term portion) 214,617 214,617 - -Current liabilities (****)Trade payables 716,238 716,238 - -Bank loans and borrowings (short\u2010term 196,005 196,005 - -portion)Other financial payables (short\u2010term portion) 72,012 58,842 9,544 3,626Current tax liabilities 70,571 70,571 - -Other payables 137,297 137,297 - -(*) Interests in subsidiaries. associates and joint ventures are not included (IFRS 9 - 2.1 a).(**) Advances for leasing contracts are not included (IFRS 9 - 2.1 b).(***) Lease liabilities under IFRS 16 (IFRS 9.-2.1b) are not included.(****) Lease liabilities to which IFRS 16 Leases is applied (IFRS 9 - 2.1 b) are not included.The value of financial assets/liabilities at amortized cost does not differ significantly from their fair value.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__81": {
"value": "20. Inventories\"Inventories\", shown net of an allowance for obsolete and slow-moving goods, can be analyzed as follows:31.12.2024 31.12.2023Finished products and goods 492,658 378,890Raw, ancillary and consumable materials 147,521 142,747Work in progress and semi-finished products 42,018 35,431Inventory writedown allowance (60,347) (52,390)Total 621,850 504,678The value of inventories is stated after deducting an allowance for obsolete or slow-moving goods totaling \u20ac60,347 thousand (\u20ac52,390 thousand at 31 December 2023) relation to products and raw materials that are obsolete and slow-moving or are no longer of strategic interest to the Group.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInventoriesExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__82": {
"value": "21. Trade receivablesThese are analyzed as follows:31.12.2024 31.12.2023Trade receivables- due within 12 months 344,486 283,483- due beyond 12 months 8 -Allowance for doubtful accounts (8,349) (10,791)Total 336,145 272,692Trade receivables are stated net of an allowance for doubtful accounts of \u20ac8,349 thousand, repre-senting a reasonable estimate of the expected losses during the entire life of the receivables. The allowance takes account of the fact that a significant portion of the receivables are covered by insurance policies with major insurers.Movements in the allowance for doubtful accounts are shown in the following table:Translation Changes in Provisions/differences 31.12.2023consolidation 31.12.2024Releasesand other areamovementsAllowance for doubtful 10,791 103 (3,509) 964 8,349accounts In addition to the change in the scope of consolidation, the change in the allowance for doubtful accounts refers to provisions for expected losses net utilization during the year to cover bad debt for which provisions had already been made. The Group has received guarantees from customers as collateral against trade balances; in addi-tion, a significant portion of the receivables are covered by insurance policies with major insurers. More details can be found in note 42. Risk management.In accordance with the disclosure required by Consob Circular 3369 of 9 April 1997, we report that the total amount of receivables factored without recourse and outstanding at 31 December 2023 is \u20ac224,851 thousand (\u20ac199,680 thousand at 31 December 2023). The total amount of re-ceivables factored by the Group (turnover) during 2024 (under Law 52/1991 known as the Factor-ing Law) was \u20ac862,244 thousand (\u20ac809,397 thousand during 2023).22. Current tax assetsThese are analyzed as follows:31.12.2024 31.12.2023Direct tax receivables 4,559 14,125Tax payments on account 5,881 5,552Tax refunds requested 901 567Total 11,341 20,244There are no current tax assets due beyond 12 months.23. Other receivables\"Other receivables\" are analyzed as follows:31.12.2024 31.12.2023VAT 21,841 16,708Other tax receivables 4,733 3,933Prepaid insurance costs 3,882 4,504Advances to suppliers 3,338 6,444Employees 423 207Other 18,442 11,899Total 52,659 43,695This item includes other receivables due beyond 12 months of \u20ac1 thousand (\u20ac1 thousand at 31 December 2023).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__83": {
"value": "Trade receivables are stated net of an allowance for doubtful accounts of \u20ac8,349 thousand, repre-senting a reasonable estimate of the expected losses during the entire life of the receivables. The allowance takes account of the fact that a significant portion of the receivables are covered by insurance policies with major insurers.Movements in the allowance for doubtful accounts are shown in the following table:Translation Changes in Provisions/differences 31.12.2023consolidation 31.12.2024Releasesand other areamovementsAllowance for doubtful 10,791 103 (3,509) 964 8,349accounts In addition to the change in the scope of consolidation, the change in the allowance for doubtful accounts refers to provisions for expected losses net utilization during the year to cover bad debt for which provisions had already been made.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__84-1": {
"value": "The Group has received guarantees from customers as collateral against trade balances; in addi-tion, a significant portion of the receivables are covered by insurance policies with major insurers. More details can be found in note 42. Risk management.Credit riskCredit risk consists of the Group's exposure to potential losses arising from failure by a counter-party to fulfill its obligations.Trade credit risk is associated with the normal conduct of trade and is monitored using formal procedures for selecting and assessing customers, for defining credit limits, for monitoring ex-pected receipts and for their recovery if necessary.Credit risk is mitigated by insurance policies with major insurers, with the aim of insuring against the risk of default by punctually performing a selection of a portfolio of customers together with the insurer, who then undertakes to pay an indemnity in the event of default.Although there is a certain concentration of risk associated with the size of some of the principal buying groups, this is counterbalanced by the fact that the exposure is spread across counterpar-ties operating in different geographical areas.Positions are written down when there is objective evidence that they will be partially or entirely uncollected; such writedowns are based on past data and information about the counterparty's solvency, taking account of insurance and any other guarantees as described above.The Group's maximum exposure to credit risk is equal to the book value of trade receivables before the allowance for doubtful accounts, and amounts to \u20ac344,494 thousand at 31 December 2024 and \u20ac283,483 thousand at 31 December 2023.This amount corresponds to the gross balance of trade receivables of \u20ac403,769 thousand at 31 December 2024 (\u20ac348,374 thousand at 31 December 2023), net of deductions and accounting offsets, which reduce the overall credit risk, mainly in the form of credit notes and other docu-ments not yet issued to customers.The following analysis of credit risk, carried out on the basis of receivables ageing and the reports used for credit management, refers to the trade balances before these deductions because the documents still to be issued cannot be specifically allocated to the ageing categories.Trade receivables of \u20ac403,769 thousand at 31 December 2024 comprise \u20ac396,227 thousand in current balances and \u20ac7,541 thousand in past due amounts, of which \u20ac9,527 thousand past due within 90 days and a negative balance of \u20ac1,986 thousand past due by more than 90 days related to still open commercial deductions.The amount of insured or guaranteed receivables at 31 December 2024 is \u20ac287,537 thousand.The Group has recognized \u20ac8,349 thousand in allowances for doubtful accounts against unguar-anteed receivables of \u20ac116,231 thousand.Trade receivables of \u20ac348,374 thousand at 31 December 2023 comprise \u20ac306,507 thousand in current balances and \u20ac41,867 thousand in past due amounts, of which \u20ac38,381 thousand past due within 90 days and \u20ac3,846 thousand past due by more than 90 days.The amount of insured or guaranteed receivables at 31 December 2023 is \u20ac249,284 thousand.The Group has recognized \u20ac10,791 thousand in allowances for doubtful accounts against un-guaranteed receivables of \u20ac99,090 thousand.As far as financial risk is concerned, it is the Group's policy to maintain a sufficiently large portfo-lio of counterparties of high international repute for the purposes of temporary investment of surplus resources or for the negotiation of derivatives.The maximum credit risk in the event of counterparty default relating to the Group's other finan-cial assets, whose classification is presented in note 40. IFRS 7 classification of financial assets and liabilities, is equal to the book value of these assets.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCreditRiskExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__85": {
"value": "24. Current financial receivables and assets\"Current financial receivables and assets\" are analyzed as follows: 31.12.2024 31.12.2023Fair value of derivatives 15,400 12,507Advances for leasing contracts 428 220Fair value of other current financial assets 70,515 68,163Other current financial assets 107,770 91,582Total 194,113 172,472More details on the fair value of derivatives can be found in note 42. Risk management.\u201cOther current financial assets\u201d includes the amount of investments made as part of liquiditymanagement measured at fair value.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__87": {
"value": "25. Cash and cash equivalentsThis balance consists of surplus liquidity on bank current accounts and other cash equivalents,as well as investments in liquidity and similar.The cash balances at 31 December 2024 include \u20ac4 thousand in current accounts of certain sub-sidiaries, that are restricted, having been given as collateral.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__88": {
"value": "Net equityThe primary objective of the Group's capital management is to maintain a solid credit rating and adequate capital ratios in order to support its business and maximize value for shareholders.On 19 April 2024 the Shareholders\u2019 Meeting of De\u2019 Longhi S.p.A. resolved to distribute a total of \u20ac101,017 thousand as dividends, fully paid during 2024.Movements in the equity accounts are reported in one of the earlier schedules forming part of the financial statements; comments on the main components and their changes are provided below.26. Treasury sharesDuring the Shareholders\u2019 Meeting held on 19 April 2024, shareholders approved the renewal - after revoking the previous authorization granted by shareholders - of the authorization to pur-chase and sell treasury shares for up to a maximum of 14.5 million ordinary shares or an amount which does not exceed one fifth of the share capital, including any shares held by the Company or any of its subsidiaries. The buyback program was approved, in accordance with the law, for a period of up to a maximum of 18 months (namely through 19 October 2025).At 31 December 2024, the Group did not hold treasury shares directly through the parent compa-ny De\u2019 Longhi S.p.A. or through subsidiaries, trusts or intermediaries.The Group announced a share buyback program starting from 16 January 2025, within the terms authorized by the aforementioned shareholders' Annual General Meeting.The program, aimed at providing funding in relation to present and future compensation plans based on financial instruments as well as other purposes authorized by the aforementioned AGM, will have a duration of up to maximum 6 months, for an amount of approx. \u20ac60 million (equal to approximately 1.4% of the share capital at current prices), not beyond the maximum limit of the number of shares within the terms authorized by the AGM, subject to the cases of early termination.The purchase price cannot exceed \u20ac45 per share and may not be more than 15% lower or higher than the reference price recorded by the stock in the market session on the previous three days.The purchases will be carried out exclusively on regulated markets where the Company's ordi-nary shares are exchanged, in accordance with the operating modes established in the regula-tions for the organization and the management of the markets themselves, to ensure equal treat-ment between shareholders and compliance with all public disclosure obligations.To this end, De' Longhi S.p.A. has signed a contract with a third-party intermediary, which is pro-ceeding with the purchase of treasury shares in full independence, in compliance with the con-tractually agreed parameters and criteria, as well as the applicable legislation and the aforemen-tioned shareholders\u2019 meeting resolution.27. Share-based incentive plansThere were two share-based incentive plans in place at 31 December 2024 referred to as the \"2020-2027 Stock Option Plan\" and the \"2024-2026 Performance Shares Plan\", respectively.The \u201c2020-2027 Stock Option Plan\" was approved by shareholders of De\u2019 Longhi S.p.A. during the Annual General Meeting held on 22 April 2020.In order to service this plan, the Shareholders\u2019 Meeting approved an additional increase in share capital for up to a maximum nominal amount of \u20ac4,500,000 to be carried out through the issue of a maximum of 3,000,000 ordinary shares with a par value of \u20ac1.5 each with the same character-istics as the ordinary shares outstanding at the issue date, with voting rights, if the treasury shares were not sufficient. The aim of the plan is to encourage the loyalty of the beneficiaries, encouraging their stay in the Group, linking their remuneration to the implementation of the com-pany strategy in the medium to long term. The overall duration of the plan is about 8 years and in any case the deadline is set for 31 December 2027.The beneficiaries were identified by the Board of Directors based on the proposal of the Remu-neration and Appointments Committee or the Chief Executive Officer, after having consulted with the Board of Statutory Auditors. The options are granted free of charge: the beneficiaries, there-fore, will not be expected to pay any sort of consideration upon assignment. Conversely, exercise of the option and the resulting subscription of the shares will be subject to payment of the exer-cise price. Each option grants the right to subscribe one share at the conditions set out in the rel-ative regulations. The exercise price shall be equal to the arithmetic average of the official market price of the Company\u2019s shares recorded on the \u201cEuronext Milan\u201d managed by Borsa Italiana S.p.A. 180 calendar days prior to the date on which the 2020-2027 Plan and the relative regula-tions were approved by shareholders during the Annual General Meeting. This period of time is sufficient to limit the impact that any volatility caused by the coronavirus crisis could have on the stock price.The options may be exercised by the beneficiaries - on one or more occasions - solely and exclu-sively during the exercise period, namely during the following timeframes:\u2022 between 15 May 2023 and 31 December 2027 for up to a total maximum amount equal to 50% of the total options assigned each beneficiary, without prejudice to the black-out periods re-ferred to in Art. 12 of the Regulations;\u2022 between 15 May 2024 and 31 December 2027 for the remaining 50% of the total options as-signed each beneficiary, without prejudice to the black-out periods referred to in Art. 12 of the Regulations.Any option not exercised by the end of the exercise period will be automatically expire and the beneficiary will have no right to any compensation or indemnity.All shares will have regular dividend rights and, therefore, will be the same as all other shares outstanding at their issue date, and will be freely transferrable by the beneficiary.With some exceptions, however, the Plan provides for a holding period (which begins at the time the option is exercised) of 24 months for the options relative to the first exercise period and 12 months for the second exercise period, during which a portion of the shares acquired and/or subscribed by the beneficiary by exercising the option, is subject to restrictions on sales and/or transfers.Please refer to the Annual Report on the Remuneration Policy and Compensation Paid for more information on the Plan.For the purposes of valuation under IFRS 2 - Share-based payments, two different tranches were defined for each award that contain the same number of options broken down equally into the plan\u2019s two exercise periods. The fair value of each tranche is different. The fair value of the stock options at the assignment date is determined using the Black-Scholes model that takes into ac-count the conditions for the exercise of the right, the current share price, expected volatility, a risk-free interest rate, as well as the non-vesting conditions.Volatility is estimated based on the data of a market information provider and corresponds to the estimated volatility of the stock over the life of the plan.The fair value of the options assigned on the date of this Report and the assumptions made for its evaluation are as follows:Award (04.05.2020) Award (14.05.2020) Award (15.05.2020) Award (20.05.2020) Award (05.11.2020)First tranche fair value 4.4283 4.591 4.4598 4.4637 12.402Second tranche fair value 4.3798 4.536 4.4034 4.4049 12.0305Expected dividends (Euro) 2.8% 2.8% 2.8% 2.8% 2.8%Estimated volatility (%) 35.0% 34.0% 33.0% 32.0% 28.0%Historic volatility (%) 37.0% 37.0% 37.0% 37.0% 37.0%Market interest rate (0.2%) (0.2%) (0.2%) (0.2%) (0.2%)Expected life of the options (years) 7.7 7.7 7.7 7.7 7.7Exercise price (Euro) 16.982 16.982 16.982 16.982 16.982At 31 December 2023, 1,089,650 options had been assigned under the \u201c2020-2027 Stock Option Plan\"; during the year 2024 the amount dropped to 340,999 following the exercise of 748,651 op-tions, serviced for 595,000 by treasury shares and for the remaining 153,651 by newly issued shares.The \u201c2024-2026 Performance Share Plan\" was approved by shareholders of De\u2019 Longhi S.p.A. during the Annual General Meeting held on 19 April 2024.The Plan is reserved for the Chief Executive Officer and General Manager of the parent company De\u2019Longhi S.p.A., as well as a limited number of top managers of the Group identified by the Board of Directors, as proposed by the Remuneration and Appointments Committee, after having consulted with the Board of Statutory Auditors as deemed appropriate.The purpose of the plan is to incentivize the beneficiaries to maximize the Group\u2019s medium/long-term performance by creating a rewarding, equitable and sustainable remuneration system con-sistent with regulatory standards and the stakeholder\u2019s expectations.The Plan calls for the free assignment of up a maximum of 1,200,000 rights, each one of which entitles the beneficiary to 1 De\u2019 Longhi share for each right assigned, subject to the achievement of certain predetermined performance targets (measured at the end of the three-year vesting period 2024-2025-2026 and linked to the De\u2019 Longhi Group\u2019s medium/long-term growth in value and profitability), as well as based on conditions defined in the Plan.The Plan will be serviced using the Company\u2019s treasury shares or, if not sufficient, shares from a free capital increase, issued on one or more occasions, for a maximum nominal amount of \u20ac1,800,000.00 and for a maximum of 1,200,000 shares, as per the power granted specifically by the shareholders to the Board of Directors.The shares will be assigned after the Annual General Meeting held to approve the separate financial statements at 31 December 2026 and acknowledge the Group\u2019s 2026 Consolidated Annual Report.The Plan will be terminated in 2029, once the 24-month lock-up on 50% of the shares assigned has ended.For the purposes of valuation, in accordance with IFRS 2 - Share-based Payment, the unit fair value of the plan was calculated as the value of the right on the assignment date based on the Black-Scholes model which takes into account the option exercise conditions, the current value of the share, the estimated volatility, the risk-free interest rate and the non-vesting conditions.Volatility was estimated using information provided by a data provider and corresponds to the stock\u2019s estimated volatility over the life of the plan.The fair value of the options assigned and the underlying assumptions used in the valuation are provided below:First awardAverage fair value 27.68Expected dividends 2.45%Historic volatility (%) 34.63%Market interest rate 3.1%Expected life of the options (years) 3.15 Exercise price (Euro) -Based on the information available, an estimated 861,473 rights were outstanding at 31 Decem-ber 2024.28. Share capitalThe share capital at 31 December 2023 comprised 151,060,000 ordinary shares with a par value of \u20ac1.5 for a total of \u20ac226,590 thousand.During 2024 a total of 153,651 new shares were issued to service the options exercised under the \u201cStock Option Plan 2020-2027\u201d; at 31 December 2024, therefore, the share capital comprises 151,213,651 ordinary shares with a par value of \u20ac1.5 for a total of \u20ac226,820 thousand.29. ReservesThe details are as follows:31.12.2024 31.12.2023 ChangeShare premium reserve 46,800 40,078 6,722Legal reserve 45,318 45,318 -Other reserves:- Extraordinary reserve 136,974 201,413 (64,439)- Fair value and cash flow hedge 4,649 259 4,390reserve- Stock option reserve 7,781 5,695 2,086- Reserve for treasury shares - (9,658) 9,658- Currency translation reserve 97,078 40,867 56,211- Profit (loss) carried forward 1,200,584 1,010,200 190,384Total 1,539,184 1,334,172 205,012The \"Share premium reserve\" was set up following the public offering at the time of the parent company's listing on the Milan stock exchange on 23 July 2001 which subsequently reduced fol-lowing the demerger transaction in favour of DeLclima S.p.A.. At 31 December 2023, it amounted to \u20ac40,078 thousand after the exercise of options assigned pursuant to the 2016-2022 Stock Option Plan.During 2024 the reserve increased to \u20ac46,800 thousand as the result of the exercise of 748,651 options (of which 595,000 serviced by treasury shares) for a countervalue of \u20ac 6,722 thousand.The \u201cLegal Reserve\u201d amounted to \u20ac45,318 thousand and do not have changes from 31 December 2023.The Extraordinary Reserve decreased by \u20ac64,439 thousand explained by the allocation of profit for 2023 approved by shareholders during De\u2019 Longhi S.p.A.\u2019s AGM held on 19 April 2024.The \"Fair value and cash flow hedge reserve\" reports a balance of \u20ac4,649 thousand, net of \u20ac1,173 thousand in tax.The change in the \u201cFair value and cash flow hedge\u201d reserve in 2024, recognized in the statement of comprehensive income for the year, is attributable to the positive fair value of the cash flow hedge and available-for-sale securities of \u20ac5,408 thousand net of \u20ac1,018 thousand in tax.The \u201cStock Option Reserve\u201d refers to the share-based incentive plan \u201cStock Option Plan 2020-2027\u201d and the \u201cPerformance Share Plan 2024-2026\u201d already described in note 27. Share-based incentive plans.At 31 December 2024 the reserve amounts to \u20ac7,781 thousand, which corresponds to the fair value of the options at the assignment date, recognized on a straight-line basis from the grant date through vesting. The reserve for the \u201cStock Option Plan 2020-2027\u201damounted to \u20ac5,695 thousand at 31 December 2023 and \u20ac2,163 thousand at 31 December 2024; the difference is attributable to the allocation of the \u20ac366 thousand stemming from the fair value measurement of the existing options net exer-cises in the period.The reserve for the \u201cPerformance Share Plan 2024-2026\u201d, which amounted to \u20ac5,618 thousand at 31 December 2024, was allocated entirely during 2024 following the fair value measurement of the existing options.The \u201cTreasury Share Reserve\u201d (negative for \u20ac9,658 thousand at 31 December 2023) correspond-ed to the value of the 595,000 treasury shares purchased under the buyback program. During the year 2024 it was eliminated following exercise of options under the \u201cStock Option Plan 2020-2027\u201d.\"Profit (loss) carried forward\" includes the retained earnings of the consolidated companies and the effects of consolidation adjustments and adjustments to comply with Group accounting policies.Below is a reconciliation between the net equity and profit reported by the parent company, De\u2019 Longhi S.p.A., and the figures shown in the consolidated financial statements:Net equity Profit for Net equity Profit for 31.12.2024202431.12.20232023De' Longhi S.p.A. financial 743,692 269,655 557,569 36,578statementsShare of subsidiaries' equity and results for period attributable to the 703,451 66,337 834,186 218,905Group, after deducting carrying value of the investmentsAllocation of goodwill arising on consolidation and related amortiza-874,890 1,481 464,525 (444)tion and reversal of goodwill recognized for statutory purposesElimination of intercompany profits (57,920) (12,514) (45,425) (4,613)Other adjustments 280 (9) 284 (14)Consolidated financial statements 2,264,393 324,950 1,811,139 250,412Minority 187,652 14,213 - 35Consolidated financial statements-2,076,741 310,737 1,811,139 250,377Group portion30. Minorities\u2019 portion of net equityThis item refers to the portion of net equity in a few Group companies not attributable, directly or indirectly, to the De\u2019Longhi Group.More in detail, minority interests emerged as a result of the La Marzocco/Eversys business combination.In the wake of the transaction finalized on 27 February 2024, the Group controls approximately 61.6% of the new entity, while the minority interests are held by De Longhi Industrial S.A. (roughly 26.5%) and the previous minority shareholders of La Marzocco (for a total of 12%).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__89": {
"value": "On 19 April 2024 the Shareholders\u2019 Meeting of De\u2019 Longhi S.p.A. resolved to distribute a total of \u20ac101,017 thousand as dividends, fully paid during 2024.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDividendsExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__90-1": {
"value": "26. Treasury sharesDuring the Shareholders\u2019 Meeting held on 19 April 2024, shareholders approved the renewal - after revoking the previous authorization granted by shareholders - of the authorization to pur-chase and sell treasury shares for up to a maximum of 14.5 million ordinary shares or an amount which does not exceed one fifth of the share capital, including any shares held by the Company or any of its subsidiaries. The buyback program was approved, in accordance with the law, for a period of up to a maximum of 18 months (namely through 19 October 2025).At 31 December 2024, the Group did not hold treasury shares directly through the parent compa-ny De\u2019 Longhi S.p.A. or through subsidiaries, trusts or intermediaries.The Group announced a share buyback program starting from 16 January 2025, within the terms authorized by the aforementioned shareholders' Annual General Meeting.The program, aimed at providing funding in relation to present and future compensation plans based on financial instruments as well as other purposes authorized by the aforementioned AGM, will have a duration of up to maximum 6 months, for an amount of approx. \u20ac60 million (equal to approximately 1.4% of the share capital at current prices), not beyond the maximum limit of the number of shares within the terms authorized by the AGM, subject to the cases of early termination.The purchase price cannot exceed \u20ac45 per share and may not be more than 15% lower or higher than the reference price recorded by the stock in the market session on the previous three days.The purchases will be carried out exclusively on regulated markets where the Company's ordi-nary shares are exchanged, in accordance with the operating modes established in the regula-tions for the organization and the management of the markets themselves, to ensure equal treat-ment between shareholders and compliance with all public disclosure obligations.To this end, De' Longhi S.p.A. has signed a contract with a third-party intermediary, which is pro-ceeding with the purchase of treasury shares in full independence, in compliance with the con-tractually agreed parameters and criteria, as well as the applicable legislation and the aforemen-tioned shareholders\u2019 meeting resolution.The \u201cTreasury Share Reserve\u201d (negative for \u20ac9,658 thousand at 31 December 2023) correspond-ed to the value of the 595,000 treasury shares purchased under the buyback program. During the year 2024 it was eliminated following exercise of options under the \u201cStock Option Plan 2020-2027\u201d.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__92": {
"value": "28. Share capitalThe share capital at 31 December 2023 comprised 151,060,000 ordinary shares with a par value of \u20ac1.5 for a total of \u20ac226,590 thousand.During 2024 a total of 153,651 new shares were issued to service the options exercised under the \u201cStock Option Plan 2020-2027\u201d; at 31 December 2024, therefore, the share capital comprises 151,213,651 ordinary shares with a par value of \u20ac1.5 for a total of \u20ac226,820 thousand.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__95": {
"value": "31. Earning per shareEarnings per share are calculated by dividing the earnings for the year by the weighted average number of the Company\u2019s shares outstanding during the period.31.12.2024Weighted average number of shares outstanding 150,953,561Weighted average number of diluted shares outstanding 151,554,650The dilutive impact was not significant at 31 December 2024, therefore the difference between the diluted earnings per share (\u20ac2.05) and the basic earnings per share (\u20ac2.06) is not material.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__96": {
"value": "32. Bank loans and borrowings\"Bank loans and borrowings\" are analyzed as follows:Payable within one Payable in 1-5 Payable in more Balance Payable within one Payable in 1-5 Balance yearyearsthan 5 years31.12.2024yearyears31.12.2023Overdrafts 11,269 - 11,269 16,394 - 16,394 Current bank loans and borrowings - - - - - -Long- term loans (short term portion) 82,977 - 82,977 179,611 - 179,611 Bank loans and borrowings (short\u2010term 94,246 - - 94,246 196,005 - 196,005 portion)Long- term loans - 227,836 152 227,988 - 300,844 300,844 Total banks loans and borrowings 94,246 227,836 152 322,234 196,005 300,844 496,849 During 2024, new loans were taken out by foreign subsidiaries for the total amount of \u20ac569 thousand.With regard to the loans taken out by the Parent Company (as described in the Annual Financial Reports related to previous years), none of the financial covenants included in the loan agree-ments, based on net debt/equity and net debt/ EBITDA had been breached at 31 December 2024.Most of the bank debt is floating rate; as a result of the hedge on part of some of the medium/long-term loans, the floating rate debt was swapped for fixed rate debt. The fair value of the loans, calculated by discounting future interest flows at current market rates, does not differ significant-ly from the amount of debt recognized in the financial statements.33. Other financial payablesThis balance, inclusive of the current portion, is made up as follows:31.12.2024 31.12.2023Private placement (short\u2010term portion) 21,408 21,397 Negative fair value of derivatives 9,523 13,170 Other short term financial payables 44,686 37,44 5 Total short\u2010term payables 75,617 72,012 Private placement (one to five years) 42,832 64,259 Negative fair value of derivatives - -Other financial payables (one to five years) 389 -Total long\u2010term payables (one to five years) 43,221 64,259 Private placement (beyond five years) 150,360 150,358 Total long\u2010term payables (beyond five years) 150,360 150,358 Total other financial payables 269,198 286,629 The bond loan refers to the issue and placement of \u20ac150 million in unsecured, non-convertible notes with US institutional investors (the \u201cUS Private Placement\u201d) completed in 2017 and an addi-tional \u20ac150 million placed in 2021. In both instances the securities were issued in a single tranche. The first issue matures in 10 years, in June 2027, and has an average life of 7 years. The notes will accrue interest from the subscription date at a fixed rate of 1.65% per annum. The notes are repaid yearly in equal instalments beginning June 2021 and ending June 2027, without prejudice to the Company\u2019s ability to repay the entire amount in advance. The second issue matures in 20 years, in April 2041, and has an average life of 15 years. The notes will accrue interest from the subscription date at a fixed rate of 1.18% per annum. The notes are repaid yearly in equal instalments beginning April 2031 and ending April 2041, without preju-dice to the Company\u2019s ability to repay the entire amount in advance. Both issues are unrated and are not intended to be listed on any regulated markets. The issues are subject to half-yearly financial covenants consistent with those applied to other loans. At 31 December 2024 the covenants had not been breached. Neither issue is secured by collateral of any kind. \u201cNegative fair value of derivatives\u201d refers to hedges on interest rates and currencies, foreign cur-rency receivables and payables, as well as on future revenue streams (anticipatory hedges). \u201cOther short term financial payables\u201d refers mainly to factoring without recours related payables.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBorrowingsExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__99": {
"value": "36. Trade payablesThe balance represents the amount owed by the Group to third parties for the provision of goods and services. The item does not include amounts due beyond 12 months.The De\u2019Longhi Group offered select suppliers the possibility of participating in a few Supply Chain Finance (SCF) programs. These programs help suppliers optimize financial management, reduce risk and support the growth of the commercial relationship. In these programs the bank acts as the agent. De\u2019Longhi does not issue any guarantees in favor of the counterparty. The payment terms included in the commercial agreements between the Group and its suppliers are independ-ent of the ability of the latter to participate in the SCF programs and obtain payment of their in-voices before the due date, for a discounted amount agreed upon independently with the bank. The rate reflects the time value of money between the date of the discount and the due date of the invoices. The De\u2019Longhi Group must pay its trade payables on the due date established at the time of invoicing.As at 31 December 2024 the trade payables for which the vendors have already received the set-tlement represent an amount of around 25% of the total.37. Current tax liabilities\u201cCurrent tax liabilities\u201d refers to the Group\u2019s direct tax and, with respect to the Italian subsidiaries who adhered to the Domestic Tax Consolidation regime, the net amount owed the parent compa-ny De Longhi Industrial S.A..The Parent Company De\u2019 Longhi S.p.A. and a few of the Italian subsidiaries renewed, jointly with the consolidator De Longhi Industrial S.A., the option to adhere to group taxation, referred to as \u201cDomestic Tax Consolidation\u201d, as permitted under articles 117-129 of the Consolidated Income Tax Act (TUIR) as per Presidential Decree n. 917 of 22 December 1986 and Decree of the Ministry and Finance of 1 March 2018, for the three-year period 2022 - 2024.For additional information please refer to Appendix.3. 38. Other payablesThese are analyzed as follows: 31.12.2024 31.12.2023Employees 74,174 58,644Indirect taxes 34,512 40,192Social security institutions 9,989 9,179Withholdings payables 9,076 7,906Advances 14,325 7,515Other taxes 5,048 697Other 22,852 13,164Total 169,976 137,297At 31 December 2024 the item does not include significant amounts due beyond 12 months.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__100": {
"value": "37. Current tax liabilities\u201cCurrent tax liabilities\u201d refers to the Group\u2019s direct tax and, with respect to the Italian subsidiaries who adhered to the Domestic Tax Consolidation regime, the net amount owed the parent compa-ny De Longhi Industrial S.A..The Parent Company De\u2019 Longhi S.p.A. and a few of the Italian subsidiaries renewed, jointly with the consolidator De Longhi Industrial S.A., the option to adhere to group taxation, referred to as \u201cDomestic Tax Consolidation\u201d, as permitted under articles 117-129 of the Consolidated Income Tax Act (TUIR) as per Presidential Decree n. 917 of 22 December 1986 and Decree of the Ministry and Finance of 1 March 2018, for the three-year period 2022 - 2024.For additional information please refer to Appendix.3.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__98": {
"value": "35. Other provisions for non-current contingencies and chargesThese are analyzed as follows:31.12.2024 31.12.2023Agents\u2019 leaving indemnity provision 2,448 2,121Product warranty provision 47,491 43,512Provision for contingencies and other charges 25,060 26,244Total 74,999 71,877Movements are as follows:Translation Changes in Net difference 31.12.202431.12.2023 Utilizationconsolida-accrualand other tion areamovementsAgents\u2019 leaving indemnity 2,121 (19) 346 2,448provisionProduct warranty 43,512 (21,509) 24,420 708 360 47,491provisionProvision for contingencies 26,244 (2,959) 282 1,175 318 25,060and other charges Total 71,877 (24,487) 25,048 1,883 678 74,999The agents\u2019 leaving indemnity provision covers the payments that might be due to departing agents in accordance with art. 1751 of the Italian Civil Code, as applied by collective compensa-tion agreements in force.The product warranty provision has been established for certain consolidated companies, on the basis of estimated under\u2010warranty repair and replacement costs for sales taking place by 31 De-cember 2024. It takes account of the provisions of Decree 24/2002 and of European Community law.The \"Provision for contingencies and other charges\" includes the provision of \u20ac15,784 thousand (\u20ac15,965 thousand at 31 December 2023) for legal disputes and product complaint liabilities (lim-ited to the Group\u2019s insurance deductible), the provision of \u20ac9,276 thousand (\u20ac10,278 thousand at 31 December 2023) for the provisions made by a few subsidiaries relating to commercial risks and other charges.In the Annual Financial Report at 31 December 2023 it was declared that the French Competition Authority (the \u201cFCA\u201d) notified a few Group companies of a complaint filed by the French company (and other French sector companies, mentioned in the complaint) which refers to certain acts that occurred between 2009 and 2014 which were allegedly in violation of rules governing an-ti-competitive conduct.More specifically, the complaint alleges that the Group entered into horizontal agreements which consisted in the exchange between competitors of privileged information relating to small appli-ances in France in the period referred to above.On 19 December 2024 the Group announced that the French Competition Authority (the \u201cFCA\u201d) had completed an assessment of the alleged behaviors and concluded that De\u2019Longhi had not violated anti-competitive regulations referred to in Law 420-1 of the French commercial code and 101, paragraph 1, TFUE and, consequently, was not subject to any sanctions.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfProvisionsExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__101": {
"value": "39. CommitmentsThese are detailed as follows:31.12.2024 31.12.2023Guarantees given to third parties 681 652Other commitments 4,411 3,836Total 5,092 4,487\"Other commitments\" mainly consist of contractual obligations pertaining to the subsidiaries.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCommitmentsExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__103": {
"value": "41. Hierarchical levels of financial instruments measured at fair valueThe following table presents the hierarchical levels in which the fair value measurements of finan-cial instruments have been classified at 31 December 2024. As required by IFRS 13, the hierarchy comprises the following levels:\u2022 level 1: quoted prices in active markets for identical assets or liabilities;\u2022 level 2: inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly;\u2022 level 3: inputs for the asset or liability that are not based on observable market data.Financial instruments measured at fair value Level 1 Level 2 Level 3Derivatives with positive fair value - 15,400 - Derivatives with negative fair value - (9,523) - Other current financial assets and investment 53 70,515 - measured at fair valueThere were no transfers between the levels during the 2024.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__104": {
"value": "42. Risk managementThe Group is exposed to the following financial risks as part of its normal business activity:\u2022 credit risk, arising from commercial activities and from the investment of surplus cash;\u2022 liquidity risk, arising from the need to have adequate access to capital markets and sources of finance to fund its operations, investment activities and the settlement of financial liabilities;\u2022 exchange rate risk, associated with the significant amount of purchases and sales in curren-cies other than the Group's functional currency;\u2022 interest rate risk, relating to the cost of the Group's debt.Credit riskCredit risk consists of the Group's exposure to potential losses arising from failure by a counter-party to fulfill its obligations.Trade credit risk is associated with the normal conduct of trade and is monitored using formal procedures for selecting and assessing customers, for defining credit limits, for monitoring ex-pected receipts and for their recovery if necessary.Credit risk is mitigated by insurance policies with major insurers, with the aim of insuring against the risk of default by punctually performing a selection of a portfolio of customers together with the insurer, who then undertakes to pay an indemnity in the event of default.Although there is a certain concentration of risk associated with the size of some of the principal buying groups, this is counterbalanced by the fact that the exposure is spread across counterpar-ties operating in different geographical areas.Positions are written down when there is objective evidence that they will be partially or entirely uncollected; such writedowns are based on past data and information about the counterparty's solvency, taking account of insurance and any other guarantees as described above.The Group's maximum exposure to credit risk is equal to the book value of trade receivables before the allowance for doubtful accounts, and amounts to \u20ac344,494 thousand at 31 December 2024 and \u20ac283,483 thousand at 31 December 2023.This amount corresponds to the gross balance of trade receivables of \u20ac403,769 thousand at 31 December 2024 (\u20ac348,374 thousand at 31 December 2023), net of deductions and accounting offsets, which reduce the overall credit risk, mainly in the form of credit notes and other docu-ments not yet issued to customers.The following analysis of credit risk, carried out on the basis of receivables ageing and the reports used for credit management, refers to the trade balances before these deductions because the documents still to be issued cannot be specifically allocated to the ageing categories.Trade receivables of \u20ac403,769 thousand at 31 December 2024 comprise \u20ac396,227 thousand in current balances and \u20ac7,541 thousand in past due amounts, of which \u20ac9,527 thousand past due within 90 days and a negative balance of \u20ac1,986 thousand past due by more than 90 days related to still open commercial deductions.The amount of insured or guaranteed receivables at 31 December 2024 is \u20ac287,537 thousand.The Group has recognized \u20ac8,349 thousand in allowances for doubtful accounts against unguar-anteed receivables of \u20ac116,231 thousand.Trade receivables of \u20ac348,374 thousand at 31 December 2023 comprise \u20ac306,507 thousand in current balances and \u20ac41,867 thousand in past due amounts, of which \u20ac38,381 thousand past due within 90 days and \u20ac3,846 thousand past due by more than 90 days.The amount of insured or guaranteed receivables at 31 December 2023 is \u20ac249,284 thousand.The Group has recognized \u20ac10,791 thousand in allowances for doubtful accounts against un-guaranteed receivables of \u20ac99,090 thousand.As far as financial risk is concerned, it is the Group's policy to maintain a sufficiently large portfo-lio of counterparties of high international repute for the purposes of temporary investment of surplus resources or for the negotiation of derivatives.The maximum credit risk in the event of counterparty default relating to the Group's other finan-cial assets, whose classification is presented in note 40. IFRS 7 classification of financial assets and liabilities, is equal to the book value of these assets.Liquidity riskLiquidity risk is the risk of not having the fund needed to fulfil payment obligations arising from operating and investment activities and from the maturity of financial instruments.The Group uses specific policies and procedures for the purposes of monitoring and managing this risk, including:\u2022 centralized management of financial payables and cash, supported by reporting and informa-tion systems and, where possible, cash pooling arrangements;\u2022 raising of medium and long\u2010term finance on capital markets;\u2022 diversification of the type of financing instruments used;\u2022 obtaining of short\u2010term credit lines so as to ensure wide room for manoeuvre for the purposes of managing working capital and cash flows;\u2022 monitoring of current and forecast financing needs and distribution within the Group.The Group has both medium\u2010term bank credit lines (related to the loans disclosed in this Finan-cial Statements) and short\u2010term credit lines (typically renewed on an annual basis), for financing working capital and other operating needs (issue of guarantees, currency transactions etc.).These credit lines, along with the significant present funds and the cash flow generated by opera-tions, are considered sufficient to satisfy the Group\u2019s annual funding requirements for working capital, investments and settlement of payables on their natural due dates.Note 40. IFRS 7 classification of financial assets and liabilities presents the book value of financial assets and liabilities, in accordance with the categories identified by IFRS 9.The following table summarizes the due dates of the Group\u2019s financial liabilities at 31 December 2024 and 31 December 2023 on the basis of contractual payments which have not been discounted.Undiscounted Undiscounted Payable within one Payable in 1-5 Payable in more Payable within one Payable in 1-5 Payable in more cash flows at cash flows at yearyearsthan five years yearyearsthan five years 31.12.202431.12.2023Bank loans and borrowings (*) 336,693 102,041 234,499 152 533,142 212,458 320,684 -Other financial payables (**) 290,828 78,291 51,032 161,505 311,281 75,049 72,957 163,275Trade payables 873,139 873,139 - - 716,238 716,238 - -Current tax payables and other 245,797 245,795 1 - 207,868 207,860 9 -payables(*) The corresponding balance reported in the financial statements was \u20ac322,234 thousand at 31 December 2024 vs. \u20ac496,849 thousand at 31 December 2023 and refers to medium/long and short term bank debt.(**) The corresponding balance in the accounts is \u20ac269,198 at 31 December 2024 and \u20ac286,629 at 31 December 2023 and refers to long-term payables comprehensive of their short-term portion of the private placement.With regard to lease liabilities in accordance with IFRS 16, please refer to Note 15. Leases.Exchange rate riskIn carrying on its business, the Group is exposed to the risk of fluctuations in currencies (other than its functional one) in which ordinary trade and financial transactions are denominated. For the purposes of protecting its income statement and statement of financial position from such fluctuations, the Group adopts a suitable hedging policy that eschews speculative ends.Hedging policiesHedging is carried out centrally by a special team on the basis of information obtained from a detailed reporting system, using instruments and policies that comply with international account-ing standards. The purpose of hedging is to protect \u2010 at individual company level \u2010 the future reve-nues/costs contained in budgets and/or long\u2010term plans, trade and financial receivables/paya-bles and net investments in foreign operations. Purpose of hedging Hedging is carried out with three goals:a) to hedge cash flows of budgeted or planned amounts up until the time of invoicing, with a time horizon that doesn\u2019t go beyond 24 months;b) to hedge the monetary amounts of receivables and payables originating from invoicing and financing transactions.The principal currencies to which the Group is exposed are:\u2022 the US dollar (mainly the EUR/USD and GBP/USD), being the currency in which a significant part of the cost of raw materials, parts and finished products as well as sales flows relative to the American market and MEIA are expressed;\u2022 the Japanese yen (JPY/HKD), for sales on the Japanese market;\u2022 the Australian dollar (AUD/HKD) for sales on the Australian market;\u2022 the Czech koruna and the Polish Zloty, for sales on the East Europe market;\u2022 the British Pound (EUR/GBP), for sales on the UK market;\u2022 the Renminbi (CNY/HKD) for the cost of raw materials, parts and finished products.Instruments usedHighly liquid instruments of a non\u2010speculative nature are used, mostly forward purchase/sale agreements.The transactions are entered into with primary, well known counterparties of international stand-ing and using methods which allow for best practice execution for each transaction.Operating structure Hedging activity is centralized (except for isolated, negligible cases) under De' Longhi Capital Ser-vices S.r.l., a Group company, which intervenes on the markets on the basis of information re-ceived from the individual operating companies. The terms and conditions thus negotiated are passed down in full to Group companies so that De\u2019 Longhi Capital Services S.r.l. does not directly carry derivatives for risks that are not its own. Sensitivity analysisWhen assessing the potential impact, in terms of change in fair value, of a hypothetical, sudden +/\u20105% change in year\u2010end exchange rates, it is necessary to distinguish between the risk associat-ed with expected future revenues/costs and the risk associated with foreign currency assets and liabilities at 31 December 2024:a) with regard to the risk connected to future flows (revenues/costs forecast in the budget and/or multi-year plans), at 31 December 2024 the fair value of the relative hedges were recog-nized in net equity in accordance with IAS standards as described in the section Accounting standards - Financial instruments found in these Explanatory Notes; a change of +/- 5% in the year-end exchange rates of the exposed currency is estimated to produce a change of +/ - \u20ac1.3 million before tax (+/- \u20ac2.1 million before tax at 31 December 2023). This figure would impact the income statement solely in the year in which the hedged revenues/costs materialize;b) as for the risk associated with foreign currency assets and liabilities, the analysis considers only unhedged receivables/payables in currencies other than the functional currency of the individual companies, since the impact of any hedges is assumed to be equal and opposite to that of the hedged items. A +/\u2010 5% change in year\u2010end exchange rates of the principal ex-posed currencies (mainly the USD and the Renminbi) against the principal functional curren-cies would produce a change in fair value of around +/\u2010 \u20ac1.3 million before tax (+/\u2010 \u20ac1.2 million before tax at 31 December 2023).The hedging transactions at 31 December 2024 are described in the paragraph \u201cInterest rate and currency exchange hedges at 31 December 2024\u201d.Interest rate riskThe Group is exposed to interest rate risk on floating rate loans and borrowings. This risk is man-aged centrally by the same team that manages currency risks.The bonds are fixed rate, while the remainder of the Group\u2019s financial debt at 31 December 2024 was floating rate.The purpose of interest rate risk management is to fix in advance the maximum cost (in terms of the interbank rate, which represents the benchmark for these borrowings) for a part of the finan-cial debt.Sensitivity analysis When estimating the potential impact of a hypothetical, sudden material change in interest rates (+/- 1% in market rates) on the cost of the Group's debt, only those items forming part of net finan-cial position which earn/incur interest at floating rates have been considered and not any others (meaning total net assets of \u20ac727.0 million on a total of \u20ac643.2 million in net debt at 31 December 2024 and total net assets of \u20ac636.4 million on a total of \u20ac662.6 million in net debt in 2023). It is estimated that a +/\u2010 1% change in interest rates would have an impact of +/- \u20ac7,3 million before tax at 31 December 2024 recognized entirely in the income statement (+/- \u20ac6,4 million before tax at 31 December 2023).Interest rate and currency exchange hedges at 31 December 2024At 31 December 2024 the Group has a number of derivatives, hedging both the fair value of un-derlying instruments and exposure to changes in cash flow.For accounting purposes, derivatives that hedge expected future cash flow are treated in accord-ance with hedge accounting as called for in IFRS 9. Derivatives that hedge foreign currency payables and receivables are reported with changes in their fair value reported in the income statement. These instruments offset the risk on the hedged item (which is a recognized asset or liability).The fair value of the outstanding derivatives at 31 December 2024 is provided below: Fair Value at 31/12/2024FX forward agreements 1,335Derivatives hedging foreign currency receivables/payables 1,335FX forward agreements 4,547Interest forward agreements (5)Derivatives covering expected cash flows 4,542Total fair value of the derivatives 5,877Forward agreements to hedge against a change in trade flows:A list of the forward agreements hedging a change in 2025 trade flows at 31 December 2024:Notional amount (in thousands) Fair value (\u20ac/000)CurrencyCurrent Current Purchases Sales TotalassetsLiabilitiesEUR/CHF* - 23,300 23,300 97 (241)EUR*/RON - 72,000 72,000 276 (263)EUR/USD* (110) 20,110 20,000 7 (281)EUR/AUD* - 11,000 11,000 199 -EUR/CNY* - 65,600 65,600 - (100)EUR/THB* - 71,700 71,700 - (25)EUR/NZD* - 1,080 1,080 20 -EUR/PLN* - 65,000 65,000 - (96)EUR/GBP* - 16,000 16,000 3 (180)USD/CAD* - 28,000 28,000 1,306 -HKD/CNY* (1,030,000) - (1,030,000) - (4,959)AUD*/HKD - 69,000 69,000 3,994 -HKD/JPY* - 4,350,000 4,350,000 3,017 -HKD/KRW* - 12,000,000 12,000,000 762 -USD*/GBP (31,800) - (31,800) 1,011 -10,692 (6,145)* Risk currencyThe cash flow hedge reserve recognized for these hedges was positive for \u20ac4,645 thousand at 31 December 2024, after tax of \u20ac1,172 thousand (at 31 December 2023 this same reserve was nega-tive for \u20ac956 thousand, after tax of \u20ac229 thousand).During 2024 the Group reversed to the income statement a net amount of \u20ac956 thousand from the negative cash flow hedge reserve at 31 December 2023.This amount was reported in the following lines of the income statement:2024 2023Increase (reduction) in revenues (1,473) (1,267)(Increase) reduction in materials consumed 268 (1,229)Net financial income (expenses) 20 -Taxes 229 315Total recognized in income statement (956) (2,181)Hedges against foreign currency receivables and payables:Notional amount (in thousands) Fair value (in \u20ac/000)CurrencyCurrent Current Purchases Sales TotalassetsLiabilitiesAUD*/HKD (38,400) 63,890 25,490 1,026 (518)AUD/NZD* - 8,230 8,230 15 -EUR*/CHF (150) - (150) 1 -EUR/AUD* (350) 3,100 2,750 29 -EUR/CHF* (37,070) 19,860 (17,210) 127 (251)EUR/CZK* (250,000) 409,390 159,390 64 (8)EUR/GBP* (43,890) 15,130 (28,760) 56 (29)EUR*/GBP - 3,230 3,230 2 -EUR/HKD* (2,850) 900 (1,950) 4 (1)EUR*/HKD (6,200) - (6,200) - (73)EUR/HUF* (1,665,000) 2,335,000 670,000 28 (21)EUR/JPY* (10,000) 15,700 5,700 1 -EUR/MXN* (43,800) - (43,800) - (31)EUR/PLN* (352,970) 213,820 (139,150) 63 (69)EUR/RON* (116,800) 3,500 (113,300) 30 (2)EUR*/RON (38,080) 6,500 31,580 56 (51)EUR/RUB* - 1,588,000 1,588,000 - (685)EUR/SEK* (95,890) 81,300 (14,590) 6 (9)EUR/USD* (739,500) 118,860 (620,640) 1,372 (409)EUR*/USD (280,000) - (280,000) - (585)GBP*/CHF (1,720) - (1,720) 13 -GBP/USD* (7,970) 10,300 2,330 76 (124)HKD/CNH* (563,880) - (563,880) - (280)HKD/JPY* - 3,140,540 3,140,540 420 -HKD/KRW* (2,000,000) 7,850,000 5,850,000 155 (25)HKD/MXN* - 125,655 125,655 144 -USD/MXN* - 169,110 169,110 184 -SGD*/HKD (10,631) - (10,631) - (87)USD/CAD* (6,000) 35,430 29,430 245 (6)USD*/CHF - 6,130 6,130 - (93)CHF*/RON (725) - (725) - (3)USD*/RON (16,040) - (16,040) 119 -USD/ZAR* (18,000) 169,450 151,450 473 (14)4,709 (3,374)* Risk currencyIRS (Interest Rate Swap) hedging interest rate risk on loans:Derivatives are evaluated at fair value; at 31 December 2024 the fair value of the derivatives, which also takes into account counterparty risk in accordance with IFRS 13 - Fair Value measure-ment, came to a negative \u20ac5 thousand which is recognized under other financial payables.Details are as follows (the figures are shown before tax):31/12/2024Notional amount Fair value (in \u20ac/000)(in \u20ac/000)Interest Rate Swap (IRS) connected to the loan 3,125 (5)Total fair value of the derivatives (5)of which:negative short-term fair value (5)During 2024 the Group reversed to the income statement a net amount of \u20ac1,215 thousand from the positive cash flow hedge reserve at 31 December 2023.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__106": {
"value": "Liquidity riskLiquidity risk is the risk of not having the fund needed to fulfil payment obligations arising from operating and investment activities and from the maturity of financial instruments.The Group uses specific policies and procedures for the purposes of monitoring and managing this risk, including:\u2022 centralized management of financial payables and cash, supported by reporting and informa-tion systems and, where possible, cash pooling arrangements;\u2022 raising of medium and long\u2010term finance on capital markets;\u2022 diversification of the type of financing instruments used;\u2022 obtaining of short\u2010term credit lines so as to ensure wide room for manoeuvre for the purposes of managing working capital and cash flows;\u2022 monitoring of current and forecast financing needs and distribution within the Group.The Group has both medium\u2010term bank credit lines (related to the loans disclosed in this Finan-cial Statements) and short\u2010term credit lines (typically renewed on an annual basis), for financing working capital and other operating needs (issue of guarantees, currency transactions etc.).These credit lines, along with the significant present funds and the cash flow generated by opera-tions, are considered sufficient to satisfy the Group\u2019s annual funding requirements for working capital, investments and settlement of payables on their natural due dates.Note 40. IFRS 7 classification of financial assets and liabilities presents the book value of financial assets and liabilities, in accordance with the categories identified by IFRS 9.The following table summarizes the due dates of the Group\u2019s financial liabilities at 31 December 2024 and 31 December 2023 on the basis of contractual payments which have not been discounted.Undiscounted Undiscounted Payable within one Payable in 1-5 Payable in more Payable within one Payable in 1-5 Payable in more cash flows at cash flows at yearyearsthan five years yearyearsthan five years 31.12.202431.12.2023Bank loans and borrowings (*) 336,693 102,041 234,499 152 533,142 212,458 320,684 -Other financial payables (**) 290,828 78,291 51,032 161,505 311,281 75,049 72,957 163,275Trade payables 873,139 873,139 - - 716,238 716,238 - -Current tax payables and other 245,797 245,795 1 - 207,868 207,860 9 -payables(*) The corresponding balance reported in the financial statements was \u20ac322,234 thousand at 31 December 2024 vs. \u20ac496,849 thousand at 31 December 2023 and refers to medium/long and short term bank debt.(**) The corresponding balance in the accounts is \u20ac269,198 at 31 December 2024 and \u20ac286,629 at 31 December 2023 and refers to long-term payables comprehensive of their short-term portion of the private placement.With regard to lease liabilities in accordance with IFRS 16, please refer to Note 15. Leases.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__107-1": {
"value": "44. Transactions and balances with related partiesAppendix 3 contains the information concerning transactions and balances with related parties required by CONSOB Circulars 97001574 dated 20 February 1997, 98015375 dated 27 February 1998 and DEM/2064231 dated 30 September 2002 relating to related party transactions; all transactions fell within the Group\u2019s normal scope of operations and were settled under arm\u2019s-length terms and conditions.Transactions and balances between the parent company and subsidiaries are not reported since these have been eliminated upon consolidation.Transactions and balances with related partiesof which with of which with (\u20ac/000) 20242023related partiesrelated partiesRevenue from sales 3,445,635 398 3,043,086 691Other revenues 51,920 984 32,818 722Total consolidated revenues 3,497,555 3,075,904Raw and ancillary materials, consumables and goods (1,515,164) (30,231) (1,301,454) (34,455)Change in inventories of finished products and work in progress 83,484 (23,588)Change in inventories of raw and ancillary materials, consumables (11,342) (10,800)and goodsMaterials consumed (1,443,022) (1,335,842)Payroll costs (484,707) (393,246)Services and other operating expenses (996,252) (685) (885,207) (694)Provisions (25,151) (23,790)Amortization (117,622) (108,191)EBIT 430,801 329,628Net financial income (expenses) (1,427) (266) (2,330) (286)PROFIT (LOSS) BEFORE TAXES 429,374 327,298Taxes (104,424) (76,886)CONSOLIDATED PROFIT (LOSS) 324,950 250,412Profit (loss) pertaining to minority 14,213 35CONSOLIDATED PROFIT (LOSS) AFTER TAXES 310,737 250,377Transactions and balances with related partiesASSETSof which with of which with 31.12.202431.12.2023(\u20ac/000)related partiesrelated partiesNON-CURRENT ASSETSINTANGIBLE ASSETS 1,323,326 878,330- Goodwill 694,208 371,686- Other intangible assets 629,118 506,644PROPERTY, PLANT AND EQUIPMENT 560,606 477,981- Land, property, plant and machinery 300,339 226,757- Other tangible assets 152,312 154,799- Right of use assets 107,955 96,425EQUITY INVESTMENTS AND OTHER FINANCIAL ASSETS 142,198 131,725- Equity investments 5,223 4,294- Receivables 5,721 5,400- Other non-current financial assets 131,254 122,031DEFERRED TAX ASSETS 74,177 60,413TOTAL NON-CURRENT ASSETS 2,100,307 1,548,449CURRENT ASSETSINVENTORIES 621,850 504,678TRADE RECEIVABLES 336,145 971 272,692 1,032CURRENT TAX ASSETS 11,341 20,244OTHER RECEIVABLES 52,659 412 43,694CURRENT FINANCIAL RECEIVABLES AND ASSETS 194,113 172,472CASH AND CASH EQUIVALENTS 1,019,711 1,250,198TOTAL CURRENT ASSETS 2,235,819 2,263,978Non-current assets held for sale - -TOTAL ASSETS 4,336,126 3,812,427Transactions and balances with related partiesNET EQUITY AND LIABILITIESof which with of which with 31.12.202431.12.2023(\u20ac/000)related partiesrelated partiesNET EQUITYGROUP PORTION OF NET EQUITY 2,076,741 1,811,139- Share Capital 226,820 226,590- Reserves 1,539,184 1,334,172- Profit (loss) pertaining to the Group 310,737 250,377MINORITY INTEREST 187,652 -TOTAL NET EQUITY 2,264,393 1,811,139NON-CURRENT LIABILITIESFINANCIAL PAYABLES 505,771 593,079- Banks loans and borrowings (long-term portion) 227,988 300,844- Other financial payables (long-term portion) 193,581 214,617- Lease liabilities (long-term portion) 84,202 14,968 77,618 19,008DEFERRED TAX LIABILITIES 112,758 72,164NON-CURRENT PROVISIONS FOR CONTINGENCIES AND OTHER 138,196 122,918CHARGES- Employee benefits 63,197 51,041- Other provisions 74,999 71,877TOTAL NON-CURRENT LIABILITIES 756,725 788,161CURRENT LIABILITIESTRADE PAYABLES 873,139 9,986 716,238 7,473FINANCIAL PAYABLES 196,072 289,022- Banks loans and borrowings (short-term portion) 94,246 196,005- Other financial payables (short-term portion) 75,617 1,658 72,012- Lease liabilities (short-term portion) 26,209 4,154 21,005 4,076CURRENT TAX LIABILITIES 75,821 37,242 70,571 26,115OTHER PAYABLES 169,976 137,297TOTAL CURRENT LIABILITIES 1,315,008 1,213,128TOTAL NET EQUITY AND LIABILITIES 4,336,126 3,812,428Transactions and balances with related partiesSummary by companyIn compliance with the guidelines and methods for identifying significant transactions, especially those with related parties covered by the De' Longhi S.p.A. rules on corporate governance, we shall now present the following information concerning related party transactions during 2024 and related balances with mainly commercial nature at 31 December 2024:Financial Income Trade and other Trade and other Financial payables (\u20ac/million) Revenues Costs(Expense)receivablespayables- IFRS 16Related companies:HeT-NPE EAST EUROPE SRL - 2.2 - - 1.5 -TCL-De\u2019Longhi Home Appliances (Zhongshan) Co.Ltd. - 6.2 - - 0.8 -NPE S.r.l. 0.4 21.9 - 0.9 7.7 -Gamma S.r.l. 0.9 0.6 (0.3) 0.5 - 19.1De Longhi Industrial S.A. - - - - 37.2 1.7Other related parties 0.1 - - - - -TOTAL RELATED PARTIES 1.4 30.9 (0.3) 1.4 47.2 20.8Following the application of IFRS 16 Leases, payables owed to Gamma S.r.l., along with the relative right-of-use assets, stemming from the leases for two locations in Italy were recognized; interest expenses owed for the period was also recognized. The Parent Company De\u2019 Longhi S.p.A. and a few Italian subsidiaries adhered to the national tax consolidation regime (Presidential Decree. n. 917/1986 - \u201cTUIR\u201d- articles 117 through 129, and Decree of 1st March 2018), as part of a tax group formed by De Longhi Industrial S.A. for the period 2022 - 2024. The \u20ac37.2 million included in tax payables is comprised of the taxes payable by the members of the tax group through De Longhi Industrial S.A..Please, refer to the yearly \u201cAnnual Report on Remuneration and Compensation Paid\u201d for information relating to the compensation of directors and statutory auditors.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__109": {
"value": "46. Subsequent eventsAfter 31 December 2024 through the date on which this annual report was approved, no events occurred that would have had a significant impact on the financial and economic results record-ed, as per IAS 10 - Events after the reporting period.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__111": {
"value": "Statement of consolidated cash flows in terms of net financial position(\u20ac/000) 2024 2023Net Result 324,950 250,412Income taxes for the period 104,424 76,886Amortization 117,622 108,191Net change in provisions and other non-cash items (4,389) 10,851Cash flow generated by current operations (A) 542,607 446,340Change in assets and liabilities for the period:Trade receivables (39,908) 2,369Inventories (59,442) 34,553Trade payables 115,363 186,920Other changes in net working capital 26,965 11,741Payment of income taxes (99,203) (97,555)Cash flow generated (absorbed) by movements in working capital (B) (56,225) 138,028Cash flow generated by current operations and movements in working capital (A+B) 486,382 584,368Investment activities:Investments in intangible assets (17,841) (18,670)Other cash flows for intangible assets - -Investments in property, plant and equipment (85,637) (76,632)Other cash flows for property, plant and equipment 1,570 1,933Investments in leased assets (26,047) (41,036)Other cash flows for leased assets 552 949Net investments in financial assets and in minority interest (273) 1,147Cash flow absorbed by ordinary investment activities (C) (127,676) (132,309)Cash flow by operating activities (A+B+C) 358,706 452,059Business combination La Marzocco (D) (326,779) -Fair value and cash flow reserves 5,408 (614)Change in currency translation reserve 39,255 (20,648)Exercise of stock option 12,712 5,101Dividends paid (101,017) (72,079)Dividends paid to minority interests (7,650) -Cash flows absorbed by changes net equity (E) (51,292) (88,240)Cash flow for the period (A+B+C+D+E) (19,365) 363,819Opening net financial position 662,600 298,781Cash flow for the period (A+B+C+D+E) (19,365) 363,819Consolidated closing net financial position 643,235 662,600",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCashFlowStatementExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f1__s7__6__113": {
"value": "Fees paid to the external auditors Disclosure pursuant to art. 149-duodecies of the Consob Issuer RegulationsType of service Party performing the service Recipient Fees earned during the yearPwC S.p.A. De\u2019 Longhi S.p.A. (parent company) 407PwC S.p.A. Italian subsidiaries 266AuditingNetwork of parent company auditor Foreign subsidiaries 1,180Other auditors Foreign subsidiaries 111PwC S.p.A. De\u2019 Longhi S.p.A. (parent company) 110Network of parent company auditor De\u2019 Longhi S.p.A. (parent company) 130Other servicesPwC S.p.A. Italian subsidiaries 59Network of parent company auditor Foreign subsidiaries 336",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory",
"language": "it",
"entity": "scheme:8156000E09A52C4F8A38",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
}
}
}