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    "entity": "scheme:9845008439EUED140282",
    "period": "2026-01-01T00:00:00",
    "unit": "iso4217:EUR"
   }
  },
  "f-487": {
   "value": "51253000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CashAndCashEquivalents",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00",
    "unit": "iso4217:EUR"
   }
  },
  "f-488": {
   "value": "96608000.0",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CashAndCashEquivalents",
    "entity": "scheme:9845008439EUED140282",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:EUR"
   }
  },
  "f-489": {
   "value": "<div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 1</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">General Information<span id=\"ifed27cb0acdb4ab3b964c3711a47fe1d\"></span></span></div><div class=\"ps6908 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Corporate information <span id=\"i2b29c53f447a4dc88448ca1b0309d6bb\"></span></span></div><div class=\"ps6910 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Cadeler A/S</span><span class=\"f charStyle-c1b8f9f6 ps6909\"> (the \u201cCompany\u201d or the \u201cGroup\u201d) is incorporated and </span></div><div class=\"ps6912 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">domiciled in Denmark. The address of its registered office is </span><span class=\"f charStyle-c1b8f9f6 ps6911\">Kalvebod </span></div><div class=\"ps2779 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Brygge</span><span class=\"f charStyle-c1b8f9f6 ps6913\"> </span><span class=\"f charStyle-c1b8f9f6 ps6914\">43</span><span class=\"f charStyle-c1b8f9f6 ps6915\">, DK-</span><span class=\"f charStyle-c1b8f9f6 ps6916\">1560</span><span class=\"f charStyle-c1b8f9f6 ps6917\"> </span><span class=\"f charStyle-c1b8f9f6 ps6918\">Copenhagen</span><span class=\"f charStyle-c1b8f9f6 ps6919\">, </span><span class=\"f charStyle-c1b8f9f6 ps6920\">Denmark</span><span class=\"f charStyle-c1b8f9f6 ps6921\">. The Company is listed </span></div><div class=\"ps2780 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">on the New York Stock Exchange (ticker: CDLR) and the Oslo Stock </span></div><div class=\"ps2781 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Exchange (ticker: CADLR). </span></div><div class=\"ps6922 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group is a global leader in offshore wind installation, operations, </span></div><div class=\"ps6923 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">and maintenance services headquartered in Copenhagen, Denmark. </span></div><div class=\"ps6926 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group owns </span><span class=\"f charStyle-c1b8f9f6 ps6924\">ten</span><span class=\"f charStyle-c1b8f9f6 ps6925\"> offshore jack-up Wind Turbine Installation </span></div><div class=\"ps2785 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Vessels (WTIVs): Wind Orca, Wind Osprey, Wind Scylla, Wind Zaratan, </span></div><div class=\"ps2786 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Wind Peak, and </span><span class=\"f charStyle-c1b8f9f6 ps6927\">five</span><span class=\"f charStyle-c1b8f9f6 ps6928\"> vessels added during 2025, Wind Pace, Wind </span></div><div class=\"ps2787 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Maker, Wind Keeper, Wind Ally and Wind Mover, the last of which </span></div><div class=\"ps2788 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">was delivered in December 2025. In addition to wind farm </span></div><div class=\"ps2789 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">installation, these vessels can perform maintenance, construction, </span></div><div class=\"ps2790 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">decommissioning, and other tasks within the offshore industry.</span></div><div class=\"ps2791 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The consolidated financial statements of the Group are composed of </span></div><div class=\"ps2792 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the Financial Statements of Cadeler A/S and its subsidiaries (which </span></div><div class=\"ps2793 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">are wholly owned by the Parent Company Cadeler A/S). For further </span></div><div class=\"ps2794 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">information on the subsidiaries of Cadeler A/S please refer to </span><span class=\"f charStyle-c1b8f9f6 ps6929\">Note </span></div><div class=\"ps2795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">29.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-490": {
   "value": "Cadeler A/S",
   "dimensions": {
    "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-499": {
   "value": "Denmark",
   "dimensions": {
    "concept": "ifrs-full:DomicileOfEntity",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-500": {
   "value": "Denmark",
   "dimensions": {
    "concept": "ifrs-full:CountryOfIncorporation",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-501": {
   "value": "<div><div id=\"i60a9312555114c61b3ebee7078e135c5_322\" style=\"position:absolute;top:42.52pt\"></div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 2</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Basis of Presentation and other significant accounting policies<span id=\"i3df6c4dd1cfc436685452c5385aa156e\"></span></span></div><div class=\"ps6935 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">2.1. Basis for preparation<span id=\"if76a4f3284a441c188f583afb50f7d1a\"></span></span></div><div class=\"ps6936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The consolidated financial statements included in this Annual Report </span></div><div class=\"ps6937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">have been prepared in accordance with IFRS Accounting Standards </span></div><div class=\"ps6938 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(IFRS) as issued by the International Accounting Standards Board </span></div><div class=\"ps6939 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(IASB) and as endorsed by the EU, as well as further requirements in </span></div><div class=\"ps6940 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the Danish Financial Statements Act. </span></div><div class=\"ps6941 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The preparation of these consolidated financial statements in </span></div><div class=\"ps6942 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">conformity with IFRS requires management to exercise its judgement </span></div><div class=\"ps6943 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">in the process of applying the Company\u2019s accounting policies. It also </span></div><div class=\"ps6944 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">requires the use of certain critical accounting estimates and </span></div><div class=\"ps6945 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">assumptions. Areas involving a higher degree of judgement or </span></div><div class=\"ps6946 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">complexity, or areas where estimates and assumptions are significant </span></div><div class=\"ps6947 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">to the consolidated financial statements are further described in Note </span></div><div class=\"ps4907 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">2.4.</span></div><div class=\"ps6948 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The consolidated financial statements are presented in euros and all </span></div><div class=\"ps6949 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">values are rounded to the nearest thousand, except when otherwise </span></div><div class=\"ps4886 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">indicated.</span></div><div class=\"ps4887 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The accounting policies set out in the notes have been applied </span></div><div class=\"ps4888 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">consistently in the preparation of the consolidated financial </span></div><div class=\"ps4889 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">statements for all the years presented unless stated otherwise below. </span></div><div class=\"ps6935 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps882\">Comparative figures<span id=\"i4a39e38604ab435d8480997ed006d9c5\"></span></span></div><div class=\"ps6936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">In December 2023, Cadeler and Eneti merged, and from this point in </span></div><div class=\"ps6937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">time the consolidated figures comprised Cadeler A/S and its </span></div><div class=\"ps6938 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">subsidiaries and Eneti and its subsidiaries (which are wholly owned by </span></div><div class=\"ps6939 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">the Group). Therefore the activity of the Group is not fully </span></div><div class=\"ps6940 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">comparable between </span><span class=\"f charStyle-c1b8f9f6 ps6950\">2025</span><span class=\"f charStyle-c1b8f9f6 ps6951\">, </span><span class=\"f charStyle-c1b8f9f6 ps6952\">2024</span><span class=\"f charStyle-c1b8f9f6 ps6953\"> and </span><span class=\"f charStyle-c1b8f9f6 ps6954\">2023</span><span class=\"f charStyle-c1b8f9f6 ps6955\">. For further information </span></div><div class=\"ps6957 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">on the subsidiaries of Cadeler A/S please refer to </span><span class=\"f charStyle-c1b8f9f6 ps6956\">Note 29.</span></div><div class=\"ps3415 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps882\">Materiality<span id=\"i1609999e90db47ef9260fce7661dd991\"></span></span></div><div class=\"ps3416 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">Our Annual Report is structured around the principle of materiality, </span></div><div class=\"ps2455 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">focusing on information that holds relevance for the users of the </span></div><div class=\"ps2456 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">consolidated financial statements. These consolidated financial </span></div><div class=\"ps2457 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">statements encompass numerous transactions, which are grouped </span></div><div class=\"ps2458 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">into categories based on their nature or function. These categories </span></div><div class=\"ps2459 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">are then presented in the consolidated financial statements as </span></div><div class=\"ps4542 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">required by IFRS. When individual items are deemed immaterial, they </span></div><div class=\"ps5078 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">are combined with other similar items in either the consolidated </span></div><div class=\"ps1004 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">financial statements or the accompanying notes.</span></div><div class=\"ps1005 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">In line with IFRS guidelines we include the necessary disclosures, </span></div><div class=\"ps4543 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">unless the information is considered immaterial to the economic </span></div><div class=\"ps2550 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">decision-making of the users or is not applicable in the context of the </span></div><div class=\"ps2551 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">consolidated financial statements.</span></div><div class=\"ps6935 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps918\">Going concern assessment<span id=\"i6bf4fe85f08a4abb89ed9ee6fc4fbbe1\"></span></span></div><div class=\"ps6936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">The Company\u2019s Board of Directors and Executive Directors, have at </span></div><div class=\"ps6937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">the time of approving the consolidated financial statements, assessed </span></div><div class=\"ps6938 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">that the Group has adequate resources to continue as a going </span></div><div class=\"ps6939 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">concern for at least </span><span class=\"f charStyle-c1b8f9f6 ps6958\">12 months</span><span class=\"f charStyle-c1b8f9f6 ps6959\"> after the balance sheet date. </span></div><div class=\"ps6960 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Thus, the Group continues to adopt the going concern basis of </span></div><div class=\"ps6941 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">accounting in preparing the consolidated financial statements. </span></div></div><div class=\"ps6963 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">European Single Electronic Format (ESEF)<span id=\"i78b8bfed68ba4f9d9b1830e637167b94\"></span></span></div><div class=\"ps3370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">As a group with securities </span><span class=\"f charStyle-c1b8f9f6 ps6964\">listed</span><span class=\"f charStyle-c1b8f9f6 ps6965\"> on a regulated market within the EEA, Cadeler A/S is required to prepare </span></div><div class=\"ps3371 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">its official Annual Report in the XHTML format and to tag the main consolidated financial statements using </span></div><div class=\"ps6966 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">inline eXtensible Business Reporting Language (iXBRL) applying a specific ESEF taxonomy. The annual </span></div><div class=\"ps6967 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">report submitted to the Danish Financial Supervisory Authority consists of the XHTML document together </span></div><div class=\"ps6970 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">with the required technical files, all included in a ZIP file named cadeler-</span><span class=\"f charStyle-c1b8f9f6 ps6968\">2025-12-31</span><span class=\"f charStyle-c1b8f9f6 ps6969\">-en.zip. </span></div><div class=\"ps6971 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">As such, the Annual Report is both human- and machine-readable.</span></div><div class=\"ps6972 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">A separate assurance report on the iXBRL tagging of the consolidated financial statements is issued by </span></div><div class=\"ps6973 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Cadeler's independent auditors and included on page 252. For general use, a PDF version of the Annual </span></div><div class=\"ps6974 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Report is published in line with previous years. </span></div><div class=\"ps6976 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">2.2. General accounting policies <span id=\"iaa4fbc8b1ee640758fa17852bba3dd6b\"></span></span></div><div class=\"ps6977 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">This section introduces accounting policies and significant accounting estimates and judgements. A more </span></div><div class=\"ps6978 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">detailed description of accounting policies and significant estimates and judgements related to specific </span></div><div class=\"ps6979 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">reported amounts is presented in the respective notes. The purpose is to provide transparency on the </span></div><div class=\"ps6980 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">disclosed amounts and to describe the relevant accounting policy, significant estimates and numerical </span></div><div class=\"ps6981 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">disclosure for each note.</span></div><div class=\"ps6993 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Principles of consolidation<span id=\"ie2ddad2eb15049f783631ee74559a9bc\"></span></span></div><div class=\"ps6994 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The consolidated financial statements include the Parent Company, </span></div><div class=\"ps6995 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Cadeler A/S, and all enterprises over which the Parent Company has </span></div><div class=\"ps6996 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">control. Control of an enterprise exists when the Company has </span></div><div class=\"ps6997 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">exposure, or rights to, variable returns from its involvement with the </span></div><div class=\"ps3185 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">enterprise and has the ability to control those returns through its </span></div><div class=\"ps6998 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">power over the enterprise. Accordingly, the consolidated financial </span></div><div class=\"ps6999 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">statements of the Group are composed of the financial statements of </span></div><div class=\"ps7000 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the Company Cadeler A/S and its subsidiaries (which are wholly </span></div><div class=\"ps7001 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">owned by the Parent Company, Cadeler A/S). </span></div><div class=\"ps7002 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">All intra-group assets and liabilities, equity, income, expenses and </span></div><div class=\"ps7003 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">cash flows relating to transactions between Group enterprises are </span></div><div class=\"ps3493 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">eliminated in full on consolidation. </span></div><div class=\"ps7004 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Currency translation <span id=\"ifc610dea6b014f188995bddfabe66dbe\"></span></span></div><div class=\"ps7009 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The financial statements are presented in eur</span><span class=\"f charStyle-c1b8f9f6 ps7005\">o (</span><span class=\"f charStyle-c1b8f9f6 ps7006\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7007\">), w</span><span class=\"f charStyle-c1b8f9f6 ps7008\">hich is also </span></div><div class=\"ps7010 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the functional currency of the parent company. For each entity in the </span></div><div class=\"ps7011 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Group, the Group determines the functional currency and items </span></div><div class=\"ps305 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">included in the financial statements of each entity are measured </span></div><div class=\"ps306 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">using that functional currency. </span></div><div class=\"ps7012 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">As of 1 January 2025, all entities of the former Eneti Group have </span></div><div class=\"ps308 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">changed their functional currency from USD to EUR. The change is </span></div><div class=\"ps309 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">driven by Cadeler\u2019s acquisition of the former Eneti Group at the end </span></div><div class=\"ps7013 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">of 2023 followed by changes to the financing, organisation and </span></div><div class=\"ps7014 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">activities whereby it is Management\u2019s assessment that the primary </span></div><div class=\"ps2561 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">economic environment in which each of the entities operates has </span></div><div class=\"ps7015 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">changed to be mainly denominated in EUR. Accordingly, </span></div><div class=\"ps3222 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">management has determined that EUR is the new functional currency </span></div><div class=\"ps7016 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">that will most faithfully reflect the underlying transactions, events and </span></div><div class=\"ps7018 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">conditions relevant to the entities follow</span><span class=\"f charStyle-c1b8f9f6 ps7017\">ing the acquisition. The </span></div><div class=\"ps7019 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">amount recognised in other comprehensive income is not reclassified </span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">to profit or loss until disposal of the operation.</span></div><div class=\"ps421 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">As some of the Group entities are conducting business in an </span></div><div class=\"ps422 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">international environment, management has applied judgement to </span></div><div class=\"ps423 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">determine the primary economic environment considering that the </span></div><div class=\"ps424 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">underlying transactions, events and conditions.</span></div><div class=\"ps425 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">Transactions in a currency other than the </span><span class=\"f charStyle-c1b8f9f6 ps7021\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7022\"> (\u201cforeign currency\u201d) are </span></div><div class=\"ps426 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">translated into </span><span class=\"f charStyle-c1b8f9f6 ps7023\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7024\"> using the exchange rates at the dates of the </span></div><div class=\"ps427 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">transactions. Foreign exchange differences resulting from the </span></div><div class=\"ps5458 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">settlement of such transactions and from the translation of monetary </span></div><div class=\"ps5459 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">assets and liabilities denominated in foreign currencies at the closing </span></div><div class=\"ps5460 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">rates at the balance sheet are recognised in profit or loss. Non-</span></div><div class=\"ps7025 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">monetary items measured at fair values in foreign currencies are </span></div><div class=\"ps7026 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">translated using the exchange rates at the date when the fair values </span></div><div class=\"ps7027 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">are determined. </span></div><div class=\"ps5464 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">Foreign exchange gains and losses impacting profit or loss are </span></div><div class=\"ps5465 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">presented in the statement of profit or loss within financial income or </span></div><div class=\"ps5466 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">financial expenses. </span></div><div class=\"ps6993 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps918\">Other reserves and retained earnings<span id=\"i47faf81da68647fa949a1ce56f94e32c\"></span></span></div><div class=\"ps6994 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Other reserves include hedging reserves, cost of hedging reserves, </span></div><div class=\"ps6995 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">and foreign currency translation reserves. Hedging reserves reflect </span></div><div class=\"ps6996 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">the changes in the fair value of derivative financial instruments </span></div><div class=\"ps6997 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">designated as cash flow hedges. Cost of hedging reserves include the </span></div><div class=\"ps3185 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">time value of options and other costs associated with hedging </span></div><div class=\"ps6998 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">activities. Foreign currency translation reserves include the cumulative </span></div><div class=\"ps6999 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">translation adjustments (CTA), which arise from the conversion of the </span></div><div class=\"ps7000 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">financial statements of foreign operations into the reporting currency. </span></div><div class=\"ps7001 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Retained earnings include results from previous periods, changes to </span></div><div class=\"ps7029 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">equity arising from business combination purchase price, and share-</span></div><div class=\"ps7030 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">based payments. </span></div><div class=\"ps7031 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps918\">Statement of cash flows <span id=\"i0a872444d31d47f6aa58aca17f10afe8\"></span></span></div><div class=\"ps301 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">The statement of cash flows shows the Group\u2019s cash flows for the </span></div><div class=\"ps302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">year, classified as operating, investing and financing activities, net </span></div><div class=\"ps303 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">changes for the year in cash and cash equivalents as well as the </span></div><div class=\"ps304 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Group\u2019s cash and cash equivalents at the beginning and end of the </span></div><div class=\"ps7032 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">year. </span></div><div class=\"ps306 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Positive amounts indicate cash inflows, whereas negative amounts </span></div><div class=\"ps307 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">indicate cash outflows.</span></div><div class=\"ps6993 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Cash flows from operating activities<span id=\"i35a919a73302405580135f59817a44f6\"></span></span></div><div class=\"ps6994 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Cash flows from operating activities are stated as the profit or loss for </span></div><div class=\"ps6995 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the year adjusted for non-cash operating items such as depreciation, </span></div><div class=\"ps6996 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">changes in working capital and income tax paid or received. Working </span></div><div class=\"ps6997 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">capital includes current assets less current liabilities, excluding cash </span></div><div class=\"ps3185 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">and cash equivalents and interest income.</span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Cash flows from investing activities <span id=\"i23afe452205241b5a13a1c66b93da7e0\"></span></span></div><div class=\"ps7035 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Cash flows from investing activities comprise cash flows from the </span></div><div class=\"ps7036 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">acquisition and sale of non-current assets and businesses. Cash flows </span></div><div class=\"ps7037 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">from restricted cash are presented within investing activities.</span></div><div class=\"ps7038 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Cash flows from financing activities<span id=\"if80fd287c2974d04bd49f278b6eeff03\"></span></span></div><div class=\"ps7039 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Cash flows from financing activities comprise cash flows from </span></div><div class=\"ps7040 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">instalments on lease liabilities, and interest paid as well as proceeds </span></div><div class=\"ps72 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">from the issue of shares, restricted cash, treasury shares and debt as </span></div><div class=\"ps7041 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">well as the prepayment of borrowings.</span></div><div class=\"ps7042 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">2.3. Changes in accounting policies and disclosures<span id=\"id07e8b1419b341b58752aad8d7866e6e\"></span></span></div><div class=\"ps2856 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps186\">2.3.1. New accounting policies and disclosures</span></div><div class=\"ps2951 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group has adopted standards and interpretations effective as of </span></div><div class=\"ps2952 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">1\u00a0January 2025</span><span class=\"f charStyle-c1b8f9f6 ps7043\">. Adoption of new, amended standards and </span></div><div class=\"ps2953 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">interpretations had no material impact on the Group\u2019s consolidated </span></div><div class=\"ps2954 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">financial statements.</span></div><div class=\"ps7044 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps186\">2.3.2. Standards issued but not yet effective </span></div><div class=\"ps7045 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">IASB has issued several new and amended accounting standards </span></div><div class=\"ps7046 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(IFRS) and interpretations (IFRS IC). The Group has assessed these </span></div><div class=\"ps2361 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">new and amended accounting standards and interpretations, and </span></div><div class=\"ps7047 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">does not anticipate any of them to have any material impact on </span></div><div class=\"ps7048 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">recognition or measurement in the consolidated financial statements.</span></div><div class=\"ps7019 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">IFRS 18 Presentation and Disclosure in Financial Statements, which </span></div><div class=\"ps7049 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">was issued in April 2024, becomes effective for reporting periods </span></div><div class=\"ps1089 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">beginning on or after 1 January 2027 and replaces IAS 1 Presentation </span></div><div class=\"ps7050 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">of Financial Statements. </span></div><div class=\"ps3155 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">The implementation will affect the presentation of the consolidated </span></div><div class=\"ps7051 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">statement of profit or loss with the introduction of specified </span></div><div class=\"ps7052 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">categories and specified sub totals. The changed presentation will </span></div><div class=\"ps7053 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">result in certain items being classified differently, such as foreign </span></div><div class=\"ps7054 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">exchange adjustments and interest income. These items will be </span></div><div class=\"ps7055 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">classified in the category as the related income and expense arise, </span></div><div class=\"ps7056 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">e.g. foreign exchange adjustments related to accounts payables or </span></div><div class=\"ps7057 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">receivables will be classified in the operating category and interest </span></div><div class=\"ps7058 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">income and foreign exchange adjustments arising from cash and </span></div><div class=\"ps7059 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">cash equivalents will be classified in the investing category. The </span></div><div class=\"ps5461 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">reported net results will not be affected. The implementation is also </span></div><div class=\"ps5462 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">expected to impact the presentation of statement of financial </span></div><div class=\"ps5463 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">position with goodwill being presented as a separate line item, the </span></div><div class=\"ps5464 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">starting point of the statement of cash flows changing to operating </span></div><div class=\"ps5465 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">profit or loss and the disclosures related to management defined </span></div><div class=\"ps5466 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">performance measures (MPM).</span></div><div class=\"ps7028 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">The Group is currently working to further identify and analyse the </span></div><div class=\"ps5468 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">implications on the consolidated financial statements. Our </span></div><div class=\"ps5469 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">interpretation of the application may evolve as additional guidance </span></div><div class=\"ps5470 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">will become available.</span></div><div class=\"ps7060 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">The Group expects to adopt the accounting standards and </span></div><div class=\"ps7061 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">interpretations as they become mandatory.</span></div><div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies for revenue from contracts with <span id=\"i17b5a42201704d018ec5535d4cbb9e0b\"></span></span></div><div class=\"ps7555 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">customers</span></div><div class=\"ps7556 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">We initially assess whether the contracts contain a lease component. </span></div><div class=\"ps7557 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In general, we have determined that our contracts consist of a leasing </span></div><div class=\"ps7558 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">component (the element relating to hire of the vessel) and a service </span></div><div class=\"ps7559 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">component. These components are not treated or priced separately </span></div><div class=\"ps7560 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">in the contracts, nor does the Group offer either of the services </span></div><div class=\"ps7035 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">separately. The service component is within the scope of IFRS 15, </span></div><div class=\"ps7036 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">while the leasing component is within the scope of IFRS 16. The lease </span></div><div class=\"ps7037 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">components are classified as an operating lease, as such leases do </span></div><div class=\"ps7069 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">not cover a significant part of the economic life of the vessels and the </span></div><div class=\"ps7070 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Group retains substantially all risks and rewards incidental to </span></div><div class=\"ps300 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">ownership of the vessels. The leasing component is recognised as </span></div><div class=\"ps301 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">revenue over time over the charter period. Prepayments from </span></div><div class=\"ps302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">customers for the leasing component are recognised as deferred </span></div><div class=\"ps303 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">revenue.</span></div><div class=\"ps7011 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Once the service component has been determined to be within the </span></div><div class=\"ps305 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">scope of IFRS 15, the Group performs the following five steps on a </span></div><div class=\"ps306 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">contract-by-contract basis: (i) identify the contract(s) with a customer; </span></div><div class=\"ps307 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(ii) identify the performance obligations in the contract; (iii) determine </span></div><div class=\"ps7561 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the transaction price; (iv) allocate the transaction price to the </span></div><div class=\"ps7562 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">performance obligations in the contract; and (v) recognise revenue </span></div><div class=\"ps7563 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">when (or as) the Group satisfies a performance obligation.</span></div><div class=\"ps7014 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Our contracts with customers are complex and normally contains </span></div><div class=\"ps2561 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">multiple types of promises to the customer. At contract inception, </span></div><div class=\"ps7015 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">judgement is performed when determining if a contract contains one </span></div><div class=\"ps3222 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">or more performance obligations. The Group assesses the goods and </span></div><div class=\"ps7016 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">services promised within each contract and identifies as a </span></div><div class=\"ps7018 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">performance obligation each good or service that is distinct. </span></div><div class=\"ps7019 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">Revenue from transportation and installation activities may, </span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">depending on the contract, represent one or more performance </span></div><div class=\"ps7146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">obligations. In respect of T&amp;I service components, the following main </span></div><div class=\"ps7149 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">promises apply: Planning and engineering, Transport of monopiles </span></div><div class=\"ps7564 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">and secondary steel from supply port to feeder port, Installation of </span></div><div class=\"ps7565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">monopiles and secondary steel offshore, Storage and handling at </span></div><div class=\"ps6922 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">feeder port, and Warranty. While the contracts contain several </span></div><div class=\"ps6923 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">distinct promises, these are considered less interdependent and </span></div><div class=\"ps6926 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">interrelated and as such are considered multiple performance </span></div><div class=\"ps2785 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">obligations.</span></div><div class=\"ps7152 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">Revenue is generally recognised over time as the service is being </span></div><div class=\"ps7158 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">provided using a method, depending on what better depicts the </span></div><div class=\"ps7159 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">progress of each separate performance obligation, as detailed below:</span></div><div class=\"ps7585 ss0\"><div class=\"ss609 ws0 ps7584\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:114pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:83.25pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #6d6d6d;padding:0\"><div class=\"ps40 ss431\"><div><div class=\"ps7567 ss430\"><span class=\"f charStyle-b77d0160 ps42\">Performance obligations in T&amp;I <span class=\"f ps43\"> </span></span></div><div class=\"ps7568 ss430\"><span class=\"f charStyle-b77d0160 ps42\">contracts</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #6d6d6d;padding:0\"><div class=\"ps7569 ss603\"><div><div class=\"ps7567 ss339\"><span class=\"f charStyle-b77d0160 ps42\">Recognition of <span class=\"f ps43\"> </span></span></div><div class=\"ps7568 ss339\"><span class=\"f charStyle-b77d0160 ps42\">revenue</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #6d6d6d;padding:0\"><div class=\"ps7571 ss605\"><div><div class=\"ps7570 ss604\"><span class=\"f charStyle-b77d0160 ps42\">Measure of progress<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"background-color:#ffffff;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps442 ss606\"><div><div class=\"ps7572 ss430\"><span class=\"f charStyle-cc5e4236 ps42\">Planning and engineering services to the <span class=\"f ps43\"> </span></span></div><div class=\"ps7573 ss430\"><span class=\"f charStyle-cc5e4236 ps42\">customer.</span></div></div></div></td><td style=\"background-color:#ffffff;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7574 ss607\"><div><div class=\"ps7199 ss339\"><span class=\"f charStyle-cc5e4236 ps42\">Over time<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7577 ss608\"><div><div class=\"ps7575 ss604\"><span class=\"f charStyle-cc5e4236 ps42\">Total costs incurred to date <span class=\"f ps43\"> </span></span></div><div class=\"ps7199 ss604\"><span class=\"f charStyle-cc5e4236 ps42\">compared with total forecast </span></div><div class=\"ps7576 ss604\"><span class=\"f charStyle-cc5e4236 ps42\">costs at completion</span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps3733 ss606\"><div><div class=\"ps7575 ss430\"><span class=\"f charStyle-cc5e4236 ps42\">Transportation of monopiles and <span class=\"f ps43\"> </span></span></div><div class=\"ps7199 ss430\"><span class=\"f charStyle-cc5e4236 ps42\">secondary steel from supply port to </span></div><div class=\"ps7576 ss430\"><span class=\"f charStyle-cc5e4236 ps42\">feeder port</span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7578 ss607\"><div><div class=\"ps7199 ss339\"><span class=\"f charStyle-cc5e4236 ps42\">Over time<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7579 ss608\"><div><div class=\"ps7572 ss604\"><span class=\"f charStyle-cc5e4236 ps42\">Total time spend compared <span class=\"f ps43\"> </span></span></div><div class=\"ps7573 ss604\"><span class=\"f charStyle-cc5e4236 ps42\">with total forecast time</span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps1807 ss606\"><div><div class=\"ps7572 ss430\"><span class=\"f charStyle-cc5e4236 ps42\">Storage and handling of the material used <span class=\"f ps43\"> </span></span></div><div class=\"ps7573 ss430\"><span class=\"f charStyle-cc5e4236 ps42\">in the installation</span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps7580 ss607\"><div><div class=\"ps7199 ss339\"><span class=\"f charStyle-cc5e4236 ps42\">Over time<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps7581 ss608\"><div><div class=\"ps7572 ss604\"><span class=\"f charStyle-cc5e4236 ps42\">Total time spend compared <span class=\"f ps43\"> </span></span></div><div class=\"ps7573 ss604\"><span class=\"f charStyle-cc5e4236 ps42\">with total forecast time</span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps58 ss606\"><div><div class=\"ps7572 ss430\"><span class=\"f charStyle-cc5e4236 ps42\">Installation of monopiles and secondary <span class=\"f ps43\"> </span></span></div><div class=\"ps7573 ss430\"><span class=\"f charStyle-cc5e4236 ps42\">steel offshore</span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7582 ss607\"><div><div class=\"ps7199 ss339\"><span class=\"f charStyle-cc5e4236 ps42\">Over time<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7583 ss608\"><div><div class=\"ps7572 ss604\"><span class=\"f charStyle-cc5e4236 ps42\">Total time spend compared <span class=\"f ps43\"> </span></span></div><div class=\"ps7573 ss604\"><span class=\"f charStyle-cc5e4236 ps42\">with total forecast time</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7586 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">While time-charter contracts contain several promises, these are </span></div><div class=\"ps7587 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">usually considered highly interdependent and highly interrelated and </span></div><div class=\"ps7588 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">as such considered as one single performance obligation recognised </span></div><div class=\"ps7589 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">over time applying a relevant measured of progress, usually output </span></div><div class=\"ps7590 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">method based on time.</span></div><div class=\"ps7019 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">The Group is sometimes providing bunker procurement services to </span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">help customers ensure that sufficient bunker is available to operate </span></div><div class=\"ps7146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">the vessels at the right time and in the right quality and quantity. </span></div><div class=\"ps7149 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Management\u2019s assessment of whether a principal or agent </span></div><div class=\"ps7564 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">relationship exists is based upon whether the Group has the ability to </span></div><div class=\"ps7565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">control the goods before they are transferred to the customer. This </span></div><div class=\"ps6922 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">assessment is performed on a contract-by-contract basis at contract </span></div><div class=\"ps6923 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">inception and takes into account various factors such as whether the </span></div><div class=\"ps6926 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Group takes legal title of the bunker and has the ability to direct the </span></div><div class=\"ps2785 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">use of the bunker. The fees earned are recognized as revenue over </span></div><div class=\"ps2786 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">the service period.</span></div><div class=\"ps7158 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Revenue is recognised when control of the services is transferred to </span></div><div class=\"ps7159 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">the customer at an amount that reflects the consideration to which </span></div><div class=\"ps7160 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">the Group expects to be entitled in exchange for those services. </span></div><div class=\"ps7162 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Revenue is recognised in the amount of the transaction price that is </span></div><div class=\"ps2791 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">allocated to the respective performance obligations when (or as) the </span></div><div class=\"ps2792 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">performance obligation is satisfied. </span></div><div class=\"ps7155 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Variable consideration, for example in respect of weather days and </span></div><div class=\"ps7156 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">extension of time, steel price or bunker price etc, is constrained at </span></div><div class=\"ps7157 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">contract inception to the extent that it is highly probable that a </span></div><div class=\"ps6930 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">significant reversal in the amount of cumulative revenue recognised </span></div><div class=\"ps7591 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">will not occur when the uncertainty associated with the variable </span></div><div class=\"ps7592 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">consideration is subsequently resolved.</span></div><div class=\"ps7593 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">The Group provides warranties for repair of defects which are </span></div><div class=\"ps7594 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">identified during the contract and within a defined period thereafter. </span></div><div class=\"ps7595 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">In general, all are assurance-type warranties, as defined within IFRS </span></div><div class=\"ps7598 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">15, which the Group recognises under I</span><span class=\"f charStyle-c1b8f9f6 ps7596\">AS 37.</span><span class=\"f charStyle-c1b8f9f6 ps7597\"> Compensation </span></div><div class=\"ps7599 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">received, or receivable, for early termination are recognised as </span></div><div class=\"ps7600 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">revenue with deferral of an estimated value of any obligations to </span></div><div class=\"ps7601 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">standing ready for new engagements in the remaining contract </span></div><div class=\"ps7602 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">period.</span></div><div class=\"ps6993 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies<span id=\"i5bd065fe8d5945acb03e5c28945340b2\"></span></span></div><div class=\"ps269 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps186\">Cost of sales and administrative expenses</span></div><div class=\"ps1547 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Cost of sales consists of expenses directly attributable to the Group\u2019s core activities, including seafarers </span></div><div class=\"ps1548 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">payroll, vessel depreciation, and the operation and maintenance of vessels.</span></div><div class=\"ps3839 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Administrative expenses, which include administrative staff costs, share-based compensation, management </span></div><div class=\"ps1780 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">costs, office expenses, business combination transaction costs and other administration-related expenses, </span></div><div class=\"ps1781 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">are expensed as they are incurred.</span></div><div class=\"ps7773 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies<span id=\"ia47b4fd9e128497db31db7f4383e5de6\"></span></span></div><div class=\"ps7774 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Other operating income and expenses, include transactions not related to the operations of the Group, </span></div><div class=\"ps7775 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">such as, gains and losses on the sale of non-current assets. Such transactions are generally recognised </span></div><div class=\"ps7776 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">when it is probable that the benefits and losses associated with the transaction will flow to the Company </span></div><div class=\"ps7777 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">and when the significant risks and rewards have been transferred to the buyer (generally when the </span></div><div class=\"ps7778 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">transaction is finalised).</span></div><div class=\"ps7819 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Accounting policies</span></div><div class=\"ps7820 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Employee benefits are recognised as an expense, unless the cost qualifies for capitalisation as an asset.</span></div><div class=\"ps5274 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Employee compensation includes wages and salaries, including compensated absence and pensions, as </span></div><div class=\"ps5275 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">well as other social security contributions made to the entity\u2019s employees or public and government </span></div><div class=\"ps5276 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">authoriti</span><span class=\"f charStyle-c1b8f9f6 ps7821\">es. </span></div><div class=\"ps6993 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps918\">Accounting policies<span id=\"i3d9fd592568545fba7f9aaba92e4e114\"></span></span></div><div class=\"ps7555 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps918\">Share-based payments<span id=\"i77a129f43c404185bc9fa311eefc3b72\"></span></span></div><div class=\"ps8157 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Employees (including senior executives) of the Group receive </span></div><div class=\"ps3396 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">remuneration in the form of share-based payments, whereby </span></div><div class=\"ps272 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">employees render services as consideration for equity instruments </span></div><div class=\"ps8158 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">(equity-settled transactions).</span></div><div class=\"ps8159 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps918\">Equity-settled transactions<span id=\"ide32f3e76d934c0fb38aac612e53c8e7\"></span></span></div><div class=\"ps8160 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">The cost of equity-settled transactions is determined by the fair value </span></div><div class=\"ps8161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">at the date on which the grant is made using an appropriate </span></div><div class=\"ps8162 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">valuation model. That cost is recognised as employee benefits </span></div><div class=\"ps4214 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">expenses, together with a corresponding increase in equity (retained </span></div><div class=\"ps4215 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">earnings), over the period in which the service and, where applicable, </span></div><div class=\"ps4216 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">the performance conditions are fulfilled (the vesting period). The </span></div><div class=\"ps4217 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">cumulative expense recognised for equity-settled transactions at each </span></div><div class=\"ps4218 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">reporting date until the vesting date reflects both the extent to which </span></div><div class=\"ps3246 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">the vesting period has expired and the Group\u2019s best estimate of the </span></div><div class=\"ps8163 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">number of equity instruments that will ultimately vest. The expense or </span></div><div class=\"ps8164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">credit in the statement of profit or loss for a period represents the </span></div><div class=\"ps1932 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">movement in cumulative expense recognised at the beginning and </span></div><div class=\"ps1933 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">end of that period.</span></div><div class=\"ps7019 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Service and non-market performance conditions are not considered </span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">when determining the grant date fair value of awards. Instead, the </span></div><div class=\"ps7146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">likelihood of these conditions being met is assessed as part of the </span></div><div class=\"ps7149 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Group\u2019s best estimate of the number of equity instruments that will </span></div><div class=\"ps7564 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">ultimately vest. Market performance conditions are reflected directly </span></div><div class=\"ps7565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">in the grant date fair value.</span></div><div class=\"ps7103 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Any other conditions attached to an award, that do not include an </span></div><div class=\"ps7104 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">associated service requirement, are considered to be non-vesting </span></div><div class=\"ps7150 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">conditions. Non-vesting conditions are reflected in the fair value of </span></div><div class=\"ps7151 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">an award and result in an immediate expensing, unless there are also </span></div><div class=\"ps7152 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">service and/or performance conditions.</span></div><div class=\"ps5460 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">No expense is recognised for awards that do not ultimately vest as a </span></div><div class=\"ps7025 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">result non-market performance and/or service conditions not being </span></div><div class=\"ps7026 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">met. </span></div><div class=\"ps5463 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Where awards include a market or non-vesting condition, the </span></div><div class=\"ps5464 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">transactions are treated as vested regardless of whether the market </span></div><div class=\"ps5465 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">or non-vesting condition is satisfied, provided that all other </span></div><div class=\"ps5466 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">performance and/or service conditions are satisfied.</span></div><div class=\"ps7028 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The dilutive effect of outstanding options is reflected as additional </span></div><div class=\"ps5468 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">share dilution in the computation of diluted earnings per share in a </span></div><div class=\"ps5469 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">loss situation only where the loss per share is reduced.</span></div><div class=\"ps6908 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Accounting policies<span id=\"i87a40683dcc746a6b776ffeef0cb9094\"></span></span></div><div class=\"ps6910 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Finance income and expenses comprise interest income and expenses, as well as realised and unrealised </span></div><div class=\"ps6912 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">exchange rate gains and losses on transactions denominated in foreign currencies, together with fair value </span></div><div class=\"ps2779 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">adjustments related to the ineffective portion of financial instruments.</span></div><div class=\"ps7564 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Interest income and interest expenses are recognised using the effective interest rate. The effective interest </span></div><div class=\"ps7565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">rate is the discount rate used to discount expected future cash payments or receipts over the expected life </span></div><div class=\"ps6922 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">of a financial asset or financial liability to the amortised cost (carrying amount) of such asset or liability.</span></div><div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies<span id=\"iaa5bb185da4f4e46bcc0ee0c55850511\"></span></span></div><div class=\"ps8664 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Income tax<span id=\"i3f81635efec443248fde029ce6605cb5\"></span></span></div><div class=\"ps8665 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Current income tax for current and prior periods is recognised at the </span></div><div class=\"ps8666 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">amount expected to be paid to or recovered from the tax authorities, </span></div><div class=\"ps8667 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">using the tax rates and tax laws that have been enacted or </span></div><div class=\"ps8668 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">substantively enacted at the balance sheet date.</span></div><div class=\"ps8669 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Management periodically evaluates positions taken in tax returns in </span></div><div class=\"ps8670 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">situations where applicable tax regulation is subject to interpretation. </span></div><div class=\"ps8671 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">It establishes provisions, where appropriate, based on amounts </span></div><div class=\"ps8672 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">expected to be paid to the tax authorities.</span></div><div class=\"ps3191 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Deferred income tax is recognised for all temporary differences </span></div><div class=\"ps8673 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">arising between the tax bases of assets and liabilities and their </span></div><div class=\"ps8674 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">carrying amounts in the financial statements. An exception applies </span></div><div class=\"ps8675 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">where the deferred tax arises from the initial recognition of an asset </span></div><div class=\"ps8676 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">or liability in a transaction that is not a business combination and, at </span></div><div class=\"ps8677 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the time of the transaction, affects neither accounting profit nor </span></div><div class=\"ps8678 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">taxable profit or loss and does not give rise to equal taxable and </span></div><div class=\"ps8679 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">deductible temporary differences.</span></div><div class=\"ps8680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Deferred income tax is measured at the tax rates expected to apply </span></div><div class=\"ps8681 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">when the related deferred income tax asset is realised or the deferred </span></div><div class=\"ps8682 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">income tax liability is settled, based on tax rates and tax laws that </span></div><div class=\"ps8683 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">have been enacted or substantively enacted at the balance sheet </span></div><div class=\"ps8684 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">date.</span></div><div class=\"ps8685 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Current and deferred income taxes are recognised as income or </span></div><div class=\"ps8686 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">expenses in profit or loss, except to the extent that the tax arises from </span></div><div class=\"ps8687 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">a transaction that is recognised directly in equity.</span></div><div class=\"ps8664 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps882\">Tonnage tax<span id=\"i1e48f8d893844d02ad3e8abca1bccee5\"></span></span></div><div class=\"ps8665 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">Under the scheme, ship-owners (or bareboat charterers) pay a fixed </span></div><div class=\"ps8666 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">tax amount per net tonne at their disposal rather than paying taxes </span></div><div class=\"ps8667 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">based on taxable income, expenses, and depreciation. The Group has </span></div><div class=\"ps8668 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">participated in the Danish scheme since 27 November 2020 and </span></div><div class=\"ps8689 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">joined the UK tonnage tax scheme, effective January 2025.</span></div><div class=\"ps8670 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">As the vessels are owned and registered by subsidiaries in </span></div><div class=\"ps8671 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">jurisdictions other than Denmark, the Group is also subject to </span></div><div class=\"ps8672 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">tonnage taxation in those jurisdictions. Such tonnage taxation is </span></div><div class=\"ps8690 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">calculated based on a fixed tax amount per tonne.</span></div><div class=\"ps8673 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">As this scheme is based on a notional income derived from tonnage </span></div><div class=\"ps8674 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">capacity and not based on the entities' actual income and expenses, </span></div><div class=\"ps8675 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">the Group does not consider the scheme to fall under the scope of </span></div><div class=\"ps8676 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">IAS 12. Consequently, tonnage tax expenses are not presented as part </span></div><div class=\"ps8677 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">of tax expense in the statement of profit and loss, but are recognised </span></div><div class=\"ps8678 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">within costs of sales.</span></div><div class=\"ps7781 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Accounting policies<span id=\"iad8a928edd3c4a15b20704b9809d0a73\"></span></span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The Company calculates Basic EPS by dividing the profit for the year attributable to ordinary equity holders </span></div><div class=\"ps7146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">of the parent by the weighted average number of ordinary shares outstanding during the year.</span></div><div class=\"ps422 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Diluted EPS is calculated by dividing the profit attributable to ordinary holders of the parent by the weighted </span></div><div class=\"ps423 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">average number of ordinary shares outstanding during the year plus the weighted average number of </span></div><div class=\"ps424 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">ordinary shares that would be issued on conversion of all the dilutive potential ordinary shares into ordinary </span></div><div class=\"ps7103 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">shares.</span></div><div class=\"ps8938 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Accounting policies<span id=\"i65d000fd33794c69802776ec533f71cd\"></span></span></div><div class=\"ps6980 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Goodwill is tested for impairment at least once a year or sooner if an impairment indication arises. </span></div><div class=\"ps6981 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Impairment testing is performed for each CGU to which goodwill is allocated, as determined by </span></div><div class=\"ps8939 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Management.</span></div><div class=\"ps8940 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">If the carrying amount of intangible assets exceeds the recoverable amount, an impairment will be </span></div><div class=\"ps8941 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">recognised in the statement of profit and loss. Any impairment of goodwill impairment losses cannot be </span></div><div class=\"ps5066 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">reversed subsequently.</span></div><div class=\"ps8942 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Intangible assets, such as software, are recognised at cost less accumulated depreciation and accumulated </span></div><div class=\"ps8943 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">impairment losses. The cost of an intangible asset initially recognised includes its purchase price and any </span></div><div class=\"ps8944 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">directly attributable costs necessary to prepare the asset for its intended use. Depreciation is calculated on a </span></div><div class=\"ps8947 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">straight-line basis over the estimated useful life, which is </span><span class=\"f charStyle-c1b8f9f6 ps8945\">3 years</span><span class=\"f charStyle-c1b8f9f6 ps8946\"> for software. </span></div><div class=\"ps9335 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies<span id=\"i0ddbd7e4d5ee4f2694b6407c8d48253e\"></span></span></div><div class=\"ps7317 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Property, plant and equipment are recognised at cost less accumulated depreciation and accumulated </span></div><div class=\"ps8865 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">impairment losses.</span></div><div class=\"ps6966 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The cost of an item of property, plant and equipment initially recognised includes its purchase price and any </span></div><div class=\"ps6967 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">costs that are directly attributable to bringing the asset to the location and condition necessary for it to be </span></div><div class=\"ps6970 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">capable of operating in the manner intended by management.</span></div><div class=\"ps6971 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Subsequent expenditure relating to property, plant and equipment that has already been recognised is </span></div><div class=\"ps7347 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">added to the carrying amount of the asset only when it is probable that future economic benefits associated </span></div><div class=\"ps9336 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">with the item will flow to the Group and the cost of the item can be measured reliably. All other repair and </span></div><div class=\"ps9337 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">maintenance expenses are recognised in profit or loss as incurred.</span></div><div class=\"ps9339 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">To maintain operational capability, the vessels are required to undergo dry-docking procedures every </span><span class=\"f charStyle-c1b8f9f6 ps9338\">five </span></div><div class=\"ps9340 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">years</span><span class=\"f charStyle-c1b8f9f6 ps8104\">. The costs of the dry-docking procedures are capitalised at cost, including any costs that are directly </span></div><div class=\"ps9341 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">attributable to bringing the vessels to the location and condition necessary for the dry-docking procedures.</span></div><div class=\"ps8937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Depreciation is calculated using the straight-line method to allocate their depreciable amounts over the </span></div><div class=\"ps9343 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">assets\u2019 estimated useful life. </span><span class=\"f charStyle-c1b8f9f6 ps9342\">The estimated useful lives are as follows:</span></div><div class=\"ps9351 ss0\"><div class=\"ss177 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:242.25pt\"></td><td style=\"padding:0;width:174.75pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #000000;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #000;padding:0\"><div class=\"ps8576 ss689\"><div><div class=\"ps44 ss688\"><span class=\"f charStyle-a2ac8934 ps42\">Useful life<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"background-color:#ffffff;border-top:1pt solid #000000;padding:0\"><div class=\"ps46 ss690\"><div><div class=\"ps751 ss657\"><span class=\"f charStyle-2b5af115 ps42\">Vessels and furnished equipment<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:1pt solid #000;padding:0\"><div class=\"ps9345 ss691\"><div><div class=\"ps751 ss688\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps42\">Up to </span><span class=\"f charStyle-1770e19e ps9344\">25 years</span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps5635 ss690\"><div><div class=\"ps751 ss657\"><span class=\"f charStyle-2b5af115 ps42\">Drydock<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9346 ss691\"><div><div class=\"ps751 ss688\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps42\">5 years</span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps2250 ss690\"><div><div class=\"ps751 ss657\"><span class=\"f charStyle-2b5af115 ps42\">Cars<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps9347 ss691\"><div><div class=\"ps751 ss688\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps42\">5 years</span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps5516 ss690\"><div><div class=\"ps751 ss657\"><span class=\"f charStyle-2b5af115 ps42\">Other fixtures and fittings<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9350 ss691\"><div><div class=\"ps751 ss688\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps42\">2</span><span class=\"f charStyle-1770e19e ps9348\"> to </span><span class=\"f charStyle-1770e19e ps9349\">3 years</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6983 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The estimated useful life of the vessels of up to </span><span class=\"f charStyle-c1b8f9f6 ps9352\">25 years</span><span class=\"f charStyle-c1b8f9f6 ps9353\"> has been determined by an external consultant </span></div><div class=\"ps9283 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">through a fatigue analysis based on the technical specification of the vessels, whereas for Wind Peak, the </span></div><div class=\"ps9289 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">estimated useful life has been determined based on an internal technical analysis, validated by an external </span></div><div class=\"ps9294 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">expert. The estimated useful life of these vessels depends on the initial delivery date. </span></div><div class=\"ps2983 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Prior to their acquisition, Wind Orca and Wind Osprey, had already been in use for </span><span class=\"f charStyle-c1b8f9f6 ps9354\">eight years</span><span class=\"f charStyle-c1b8f9f6 ps9355\">, therefore the </span></div><div class=\"ps2984 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">remaining useful life of these vessels is estimated at </span><span class=\"f charStyle-c1b8f9f6 ps9356\">17 years</span><span class=\"f charStyle-c1b8f9f6 ps9357\"> for all components except for the jacking </span></div><div class=\"ps2985 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">system and the main crane, which have a remaining useful life of </span><span class=\"f charStyle-c1b8f9f6 ps9358\">three years</span><span class=\"f charStyle-c1b8f9f6 ps9359\"> from the acquisition date. For </span></div><div class=\"ps3304 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Wind Scylla and Wind Zaratan, the remaining useful lives at the acquisition date were assessed to be </span><span class=\"f charStyle-c1b8f9f6 ps9360\">17</span><span class=\"f charStyle-c1b8f9f6 ps9361\"> and </span></div><div class=\"ps3305 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">14 years</span><span class=\"f charStyle-c1b8f9f6 ps9362\"> respectively, and all components are assigned the same useful life. Hull and steel components have </span></div><div class=\"ps3306 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">a salvage value of up to</span><span class=\"f charStyle-c1b8f9f6 ps9363\"> </span><span class=\"f charStyle-c1b8f9f6 ps9364\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9365\"> </span><span class=\"f charStyle-c1b8f9f6 ps9366\">15\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9367\"> per vessel at the end of their useful lives. Both the salvage value and </span></div><div class=\"ps3307 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">the residual value are estimated as the lightweight tonnage of each vessel multiplied by the scrap value per </span></div><div class=\"ps3308 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">tonne. Depreciation is based on costs less the estimated residual value.</span></div><div class=\"ps3111 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Further information is provided in Note 2.4, Material accounting judgements, estimates and assumptions, in </span></div><div class=\"ps3112 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">relation to vessels acquired through the business combination.</span></div><div class=\"ps3119 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The residual value, useful life, and methods of depreciation of property, plant, and equipment are reviewed </span></div><div class=\"ps3120 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">at each financial year end and adjusted accordingly, if appropriate.</span></div><div class=\"ps9368 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Borrowing costs<span id=\"i6256ae5b87dc48b2a1ee275c61305707\"></span></span></div><div class=\"ps9369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Borrowing costs are capitalised in accordance with IAS 23, where borrowing costs directly attributable to the </span></div><div class=\"ps9370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">construction of assets are capitalised until the asset is substantially ready for its intended use. Borrowing </span></div><div class=\"ps9371 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">costs consist of interest and other costs incurred by the Group incurs in connection with the borrowing of </span></div><div class=\"ps9372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">funds, including guarantee fees provided by related parties.</span></div><div class=\"ps9373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Impairment of non-financial assets <span id=\"ied66e0bde3da4c348bdf3ba8c64c7cb7\"></span></span></div><div class=\"ps9374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Property, plant and equipment and right-of-use assets are tested for impairment whenever there is </span></div><div class=\"ps9375 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">objective evidence or an indication that these assets may be impaired. Refer to note 12 for further </span></div><div class=\"ps7926 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">information impairment testing.</span></div><div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Accounting policies<span id=\"i5b93fa0e4eeb499581f0d02dbf58f2fb\"></span></span></div><div class=\"ps8664 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Right-of-Use Assets <span id=\"if3e7eb2c164547ba99ae198c39355d35\"></span></span></div><div class=\"ps8665 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The Group recognises a right-of-use asset and lease liability at the date on which the underlying asset is </span></div><div class=\"ps8666 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">made available for use. Right-of-use assets are measured at cost, which comprises the initial measurement </span></div><div class=\"ps8667 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">of the lease liability using an incremental borrowing rate adjusted for any lease payments made at or before </span></div><div class=\"ps8668 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">the commencement date and any lease incentives received. Any initial direct costs that would not have been </span></div><div class=\"ps8689 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">incurred if the lease had not been obtained are included in to the carrying amount of the right-of-use </span></div><div class=\"ps9618 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">assets.</span></div><div class=\"ps8671 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The right-of-use asset is subsequently measured at cost, less any accumulated depreciation and impairment </span></div><div class=\"ps8672 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">losses, and adjusted for any remeasurement of the lease liability.</span></div><div class=\"ps3191 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Right-of-use assets are depreciated on a straight-line basis over the lease term.</span></div><div class=\"ps9619 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Right-of-use assets are tested for impairment whenever there is objective evidence or an indication that </span></div><div class=\"ps9620 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">these assets may be impaired. For further information regarding impairment testing. please refer to Note 13.</span></div><div class=\"ps9621 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Lease liabilities<span id=\"i906fb04c707e4a55b0265cca42759d6e\"></span></span></div><div class=\"ps2679 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">At the inception of a contract, the Group assesses whether the contract contains a lease. A contract contains </span></div><div class=\"ps2680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">a lease if it conveys the right to control the use of an identified asset for a period of time in exchange for </span></div><div class=\"ps2681 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">consideration. Reassessment is required only when the terms and conditions of the contract are changed.</span></div><div class=\"ps6983 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">At the commencement date of the lease, the Group recognises lease liabilities measured at the present </span></div><div class=\"ps9283 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">value of lease payments to be made over the lease term. The lease payments include fixed payments </span></div><div class=\"ps9289 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(including in-substance fixed payments) less any lease incentives receivable, variable lease payments that </span></div><div class=\"ps9294 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">depend on an index or a rate, and amounts expected to be paid under residual value guarantees.</span></div><div class=\"ps2983 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Variable lease payments that do not depend on an index or a rate are recognised as expenses in the period </span></div><div class=\"ps2984 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">in which the event or condition that triggers the payment occurs. Utilisation based lease fees are classified <span class=\"f ps43\"> </span></span></div><div class=\"ps2985 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">as variable lease payments.</span></div><div class=\"ps2986 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the </span></div><div class=\"ps2987 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">lease commencement date, as the interest rate implicit in the lease is not readily determinable. After the </span></div><div class=\"ps2988 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">commencement date, the carrying amount of lease liabilities is increased to reflect the accretion of interest </span></div><div class=\"ps2989 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">and reduced by lease payments made.</span></div><div class=\"ps2990 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the </span></div><div class=\"ps2991 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an </span></div><div class=\"ps3118 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">index or rate used to determine such lease payments) or a change in the assessment of an option to </span></div><div class=\"ps3119 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">purchase the underlying asset.</span></div><div class=\"ps9626 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Short-term and low-value leases<span id=\"i47c0a14c77d249589203643c44fd375a\"></span></span></div><div class=\"ps9627 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group has elected not to recognise right-of-use assets and lease liabilities for short-term leases with </span></div><div class=\"ps9369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">lease terms of </span><span class=\"f charStyle-c1b8f9f6 ps7514\">twelve months</span><span class=\"f charStyle-c1b8f9f6 ps9628\"> or less, and for low-value leases. Lease payments relating to these leases are </span></div><div class=\"ps9370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">expensed to profit or loss on a straight-line basis over the lease term. Short-term and low-value leases </span></div><div class=\"ps9371 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">include cars, coffee machines, office premises and AV equipment.</span></div><div class=\"ps1733 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Accounting policies</span></div><div class=\"ps2471 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Inventories are carried at the lower of cost and net realisable value. Cost is determined using the first-in, </span></div><div class=\"ps1735 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">first-out basis. Net realisable value is the estimated selling price in the ordinary course of business, less </span></div><div class=\"ps1736 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">applicable variable selling expenses. Inventories mainly comprise fuel and oil. </span></div><div class=\"ps9760 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies<span id=\"id45d7b41ad8e457a85cd27d16fcb0747\"></span></span></div><div class=\"ps9761 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Financial assets<span id=\"i84d16ac46774406bb2607018955ce9e3\"></span></span></div><div class=\"ps9762 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The classification of financial assets depends on the Group\u2019s business model for managing the financial </span></div><div class=\"ps9763 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">assets as well as the contractual terms of the cash flows of the respective financial assets.</span></div><div class=\"ps3382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1760\">(1)<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1761\">At initial recognition: the Group measures a financial asset at fair value, plus, in the case of a </span></div><div class=\"ps3384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">financial asset not measured at fair value through profit or loss, transaction costs that are directly </span></div><div class=\"ps3385 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">attributable to the acquisition of the financial assets. Transaction costs of financial assets carried at </span></div><div class=\"ps3386 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">fair value through profit or loss are recognised as an expense in profit or loss.</span></div><div class=\"ps2680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1760\">(1i)<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1761\">At subsequent measurement: the Group\u2019s financial assets mainly comprise cash and bank balances, </span></div><div class=\"ps2681 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">trade receivables and other current assets.</span></div><div class=\"ps9622 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Interest income from these financial assets is recognised using the effective interest rate method.</span></div><div class=\"ps2357 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group assesses on a forward-looking basis the expected credit losses associated with its financial assets </span></div><div class=\"ps2358 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">carried at amortised cost. For trade and other receivables, the Group applied the simplified approach </span></div><div class=\"ps2359 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">permitted by IFRS 9, which requires lifetime expected losses to be recognised from initial recognition of the </span></div><div class=\"ps2360 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">receivables.</span></div><div class=\"ps9883 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies <span id=\"i77381d018b0949e7983fba488dc3e9f9\"></span></span></div><div class=\"ps4894 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Cash and cash equivalents consist of cash net of short-term bank overdrafts, as these are considered an </span></div><div class=\"ps4895 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">integral part of the Group\u2019s cash management. Cash and cash equivalents are me</span><span class=\"f charStyle-c1b8f9f6 ps9884\">asured at amortised cost.</span></div><div class=\"ps7781 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Accounting policies<span id=\"i0e2a59b7f3894ea2994a4e401dde6b73\"></span></span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Trade and other payables represent liabilities for goods and services provided to the Group before the end </span></div><div class=\"ps7146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">of the financial year, that remain unpaid. They are classified as current liabilities if payment is due within one </span></div><div class=\"ps7149 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">year or less (within the normal operating cycle of the business, if longer). Otherwise, they are presented as </span></div><div class=\"ps7564 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">non-current liabilities. Trade and other payables are initially recognised at fair value, and subsequently </span></div><div class=\"ps7565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">carried at amortised cost, using the effective interest method. </span></div><div class=\"ps7103 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">A provision is recognised for certain contracts with customers where the unavoidable costs of meeting the </span></div><div class=\"ps7104 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">performance obligations exceed the economic benefits expected to be received. These costs are expected </span></div><div class=\"ps7150 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">to be incurred in the following financial year.</span></div><div class=\"ps10160 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Accounting policies<span id=\"i698f23eb0d4f46b3907f168ecb3e0f79\"></span></span></div><div class=\"ps10161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Ordinary shares are classified as equity. When there is a capital increase through the issuance of new shares, </span></div><div class=\"ps7740 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">these shares are recorded at their nominal value.</span></div><div class=\"ps379 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The s</span><span class=\"f charStyle-c1b8f9f6 ps10162\">hare premium reserve represents capital contributed by investors in excess of the nominal value of the </span></div><div class=\"ps401 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">shares issued, net of any incremental costs directly attributable to the issuance of new shares.</span></div><div class=\"ps381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Own equity instruments that are reacquired (treasury shares) are recognised at cost and deducted from </span></div><div class=\"ps382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">equity. No gain or loss is recognised in profit or loss on the purchase, sale, issue or cancellation of the </span></div><div class=\"ps383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Group\u2019s own equity instruments. Any difference between the carrying amount and the consideration </span></div><div class=\"ps384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">received, upon reissuance, is recognised in equity.</span></div><div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies<span id=\"ic09a383af8ab4b488bf22a7990e12a85\"></span></span></div><div class=\"ps372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Derivative financial instruments are initially recognised at fair value on the date the derivative contract is </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">entered into and are subsequently remeasured at fair value through profit and loss. Derivatives are carried </span></div><div class=\"ps400 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">as financial assets, presented as derivative assets, when the fair value is positive and as financial liabilities, </span></div><div class=\"ps7422 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">presented as derivative liabilities, when the fair value is negative.</span></div><div class=\"ps376 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">At the inception of a hedge relationship, the Group formally designates and documents the hedge </span></div><div class=\"ps377 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">relationship, including the risk management objective and strategy for undertaking the hedge.</span></div><div class=\"ps10283 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Changes in the fair value of derivative financial instruments designated as cash flow hedges are recognised </span></div><div class=\"ps7438 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">in other comprehensive income and presented under \u201cHedging reserves\u201d (equity). Where the expected </span></div><div class=\"ps380 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">future transactions result in the acquisition of non-financial assets, amounts deferred in equity are </span></div><div class=\"ps381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">transferred from equity and included in the cost of the asset. Where expected future transactions result in </span></div><div class=\"ps382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">income or expenses, amounts deferred under in equity are transferred from equity to the statement of </span></div><div class=\"ps383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">profit and loss, in the same item as the hedged transaction, as a reclassification adjustment. In addition, the </span></div><div class=\"ps384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">entity may transfer the cumulative fair value changes recognised in equity upon derecognition of the </span></div><div class=\"ps403 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">hedged item. </span></div><div class=\"ps386 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Changes in the fair value of derivative financial instruments not designated as hedges are recognised in the </span></div><div class=\"ps404 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">statement of profit and loss. Certain borrowing facilities when undrawn do not qualify for hedge </span></div><div class=\"ps405 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">accounting. Changes in the fair value of these derivative financial instruments are therefore recognised in </span></div><div class=\"ps406 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the statement of profit and loss under \u201cFinancial income\u201d or \u201cFinancial expenses\u201d for interest rate swaps. </span></div><div class=\"ps390 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The amount included in the hedging reserve is the lower, in absolute terms, of the cumulative fair value </span></div><div class=\"ps391 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">adjustment of the hedging instrument and the hedged item. Hedge ineffectiveness is recognised in the </span></div><div class=\"ps408 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">consolidated statement of profit and loss. Cost of hedging reserves include the time value of options. </span></div><div class=\"ps409 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">These costs are recognised separately in Other Comprehensive Income (OCI) and are amortised over the </span></div><div class=\"ps410 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">life of the hedging instrument, in accordance with the specific hedging relationship. If the hedge is </span></div><div class=\"ps411 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">discontinued, any unamortised cost of hedging is recognised immediately in profit or loss.</span></div><div class=\"ps11072 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies<span id=\"ia724b79896824364bb1ed0a2821fa1af\"></span></span></div><div class=\"ps7064 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Debt to credit institutions etc. is recognised at the time of borrowing </span></div><div class=\"ps7065 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">at fair value after deduction of directly attributable transaction costs. </span></div><div class=\"ps7066 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Subsequently, the financial liabilities are measured at amortised cost </span></div><div class=\"ps7067 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">using the \"effective interest method\", whereby the difference </span></div><div class=\"ps7068 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">between the proceeds and the nominal value is recognised in the </span></div><div class=\"ps296 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">statement of profit and loss under financial expenses over the loan </span></div><div class=\"ps297 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">period. </span></div><div class=\"ps7069 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">A financial liability is derecognised when the obligation under the </span></div><div class=\"ps7070 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">liability is discharged, cancelled or expires.</span></div><div class=\"ps11073 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">When an existing financial liability is replaced by another from the </span></div><div class=\"ps11074 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">same lender on substantially different terms, or when the terms of an </span></div><div class=\"ps7009 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">existing liability are substantially modified, such an exchange or </span></div><div class=\"ps7010 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">modification is treated as the derecognition of the original liability </span></div><div class=\"ps7011 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">and the recognition of a new liability.</span></div><div class=\"ps11075 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The difference in the respective carrying amounts of the original and </span></div><div class=\"ps11076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the new financial liability is recognised in the statement of profit and </span></div><div class=\"ps7012 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">loss.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-503": {
   "value": "<div class=\"ps6935 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">2.1. Basis for preparation<span id=\"if76a4f3284a441c188f583afb50f7d1a\"></span></span></div><div class=\"ps6936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The consolidated financial statements included in this Annual Report </span></div><div class=\"ps6937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">have been prepared in accordance with IFRS Accounting Standards </span></div><div class=\"ps6938 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(IFRS) as issued by the International Accounting Standards Board </span></div><div class=\"ps6939 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(IASB) and as endorsed by the EU, as well as further requirements in </span></div><div class=\"ps6940 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the Danish Financial Statements Act. </span></div><div class=\"ps6941 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The preparation of these consolidated financial statements in </span></div><div class=\"ps6942 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">conformity with IFRS requires management to exercise its judgement </span></div><div class=\"ps6943 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">in the process of applying the Company\u2019s accounting policies. It also </span></div><div class=\"ps6944 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">requires the use of certain critical accounting estimates and </span></div><div class=\"ps6945 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">assumptions. Areas involving a higher degree of judgement or </span></div><div class=\"ps6946 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">complexity, or areas where estimates and assumptions are significant </span></div><div class=\"ps6947 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">to the consolidated financial statements are further described in Note </span></div><div class=\"ps4907 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">2.4.</span></div><div class=\"ps6948 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The consolidated financial statements are presented in euros and all </span></div><div class=\"ps6949 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">values are rounded to the nearest thousand, except when otherwise </span></div><div class=\"ps4886 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">indicated.</span></div><div class=\"ps4887 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The accounting policies set out in the notes have been applied </span></div><div class=\"ps4888 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">consistently in the preparation of the consolidated financial </span></div><div class=\"ps4889 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">statements for all the years presented unless stated otherwise below. </span></div><div class=\"ps6935 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps882\">Comparative figures<span id=\"i4a39e38604ab435d8480997ed006d9c5\"></span></span></div><div class=\"ps6936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">In December 2023, Cadeler and Eneti merged, and from this point in </span></div><div class=\"ps6937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">time the consolidated figures comprised Cadeler A/S and its </span></div><div class=\"ps6938 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">subsidiaries and Eneti and its subsidiaries (which are wholly owned by </span></div><div class=\"ps6939 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">the Group). Therefore the activity of the Group is not fully </span></div><div class=\"ps6940 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">comparable between </span><span class=\"f charStyle-c1b8f9f6 ps6950\">2025</span><span class=\"f charStyle-c1b8f9f6 ps6951\">, </span><span class=\"f charStyle-c1b8f9f6 ps6952\">2024</span><span class=\"f charStyle-c1b8f9f6 ps6953\"> and </span><span class=\"f charStyle-c1b8f9f6 ps6954\">2023</span><span class=\"f charStyle-c1b8f9f6 ps6955\">. For further information </span></div><div class=\"ps6957 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">on the subsidiaries of Cadeler A/S please refer to </span><span class=\"f charStyle-c1b8f9f6 ps6956\">Note 29.</span></div><div class=\"ps3415 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps882\">Materiality<span id=\"i1609999e90db47ef9260fce7661dd991\"></span></span></div><div class=\"ps3416 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">Our Annual Report is structured around the principle of materiality, </span></div><div class=\"ps2455 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">focusing on information that holds relevance for the users of the </span></div><div class=\"ps2456 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">consolidated financial statements. These consolidated financial </span></div><div class=\"ps2457 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">statements encompass numerous transactions, which are grouped </span></div><div class=\"ps2458 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">into categories based on their nature or function. These categories </span></div><div class=\"ps2459 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">are then presented in the consolidated financial statements as </span></div><div class=\"ps4542 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">required by IFRS. When individual items are deemed immaterial, they </span></div><div class=\"ps5078 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">are combined with other similar items in either the consolidated </span></div><div class=\"ps1004 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">financial statements or the accompanying notes.</span></div><div class=\"ps1005 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">In line with IFRS guidelines we include the necessary disclosures, </span></div><div class=\"ps4543 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">unless the information is considered immaterial to the economic </span></div><div class=\"ps2550 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">decision-making of the users or is not applicable in the context of the </span></div><div class=\"ps2551 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">consolidated financial statements.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:StatementOfIFRSCompliance",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-502": {
   "value": "<div class=\"ps6935 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">2.1. Basis for preparation<span id=\"if76a4f3284a441c188f583afb50f7d1a\"></span></span></div><div class=\"ps6936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The consolidated financial statements included in this Annual Report </span></div><div class=\"ps6937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">have been prepared in accordance with IFRS Accounting Standards </span></div><div class=\"ps6938 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(IFRS) as issued by the International Accounting Standards Board </span></div><div class=\"ps6939 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(IASB) and as endorsed by the EU, as well as further requirements in </span></div><div class=\"ps6940 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the Danish Financial Statements Act. </span></div><div class=\"ps6941 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The preparation of these consolidated financial statements in </span></div><div class=\"ps6942 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">conformity with IFRS requires management to exercise its judgement </span></div><div class=\"ps6943 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">in the process of applying the Company\u2019s accounting policies. It also </span></div><div class=\"ps6944 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">requires the use of certain critical accounting estimates and </span></div><div class=\"ps6945 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">assumptions. Areas involving a higher degree of judgement or </span></div><div class=\"ps6946 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">complexity, or areas where estimates and assumptions are significant </span></div><div class=\"ps6947 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">to the consolidated financial statements are further described in Note </span></div><div class=\"ps4907 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">2.4.</span></div><div class=\"ps6948 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The consolidated financial statements are presented in euros and all </span></div><div class=\"ps6949 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">values are rounded to the nearest thousand, except when otherwise </span></div><div class=\"ps4886 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">indicated.</span></div><div class=\"ps4887 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The accounting policies set out in the notes have been applied </span></div><div class=\"ps4888 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">consistently in the preparation of the consolidated financial </span></div><div class=\"ps4889 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">statements for all the years presented unless stated otherwise below. </span></div><div class=\"ps6935 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps882\">Comparative figures<span id=\"i4a39e38604ab435d8480997ed006d9c5\"></span></span></div><div class=\"ps6936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">In December 2023, Cadeler and Eneti merged, and from this point in </span></div><div class=\"ps6937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">time the consolidated figures comprised Cadeler A/S and its </span></div><div class=\"ps6938 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">subsidiaries and Eneti and its subsidiaries (which are wholly owned by </span></div><div class=\"ps6939 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">the Group). Therefore the activity of the Group is not fully </span></div><div class=\"ps6940 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">comparable between </span><span class=\"f charStyle-c1b8f9f6 ps6950\">2025</span><span class=\"f charStyle-c1b8f9f6 ps6951\">, </span><span class=\"f charStyle-c1b8f9f6 ps6952\">2024</span><span class=\"f charStyle-c1b8f9f6 ps6953\"> and </span><span class=\"f charStyle-c1b8f9f6 ps6954\">2023</span><span class=\"f charStyle-c1b8f9f6 ps6955\">. For further information </span></div><div class=\"ps6957 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">on the subsidiaries of Cadeler A/S please refer to </span><span class=\"f charStyle-c1b8f9f6 ps6956\">Note 29.</span></div><div class=\"ps3415 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps882\">Materiality<span id=\"i1609999e90db47ef9260fce7661dd991\"></span></span></div><div class=\"ps3416 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">Our Annual Report is structured around the principle of materiality, </span></div><div class=\"ps2455 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">focusing on information that holds relevance for the users of the </span></div><div class=\"ps2456 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">consolidated financial statements. These consolidated financial </span></div><div class=\"ps2457 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">statements encompass numerous transactions, which are grouped </span></div><div class=\"ps2458 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">into categories based on their nature or function. These categories </span></div><div class=\"ps2459 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">are then presented in the consolidated financial statements as </span></div><div class=\"ps4542 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">required by IFRS. When individual items are deemed immaterial, they </span></div><div class=\"ps5078 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">are combined with other similar items in either the consolidated </span></div><div class=\"ps1004 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">financial statements or the accompanying notes.</span></div><div class=\"ps1005 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">In line with IFRS guidelines we include the necessary disclosures, </span></div><div class=\"ps4543 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">unless the information is considered immaterial to the economic </span></div><div class=\"ps2550 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">decision-making of the users or is not applicable in the context of the </span></div><div class=\"ps2551 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">consolidated financial statements.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-504": {
   "value": "<div class=\"ps6935 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps918\">Going concern assessment<span id=\"i6bf4fe85f08a4abb89ed9ee6fc4fbbe1\"></span></span></div><div class=\"ps6936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">The Company\u2019s Board of Directors and Executive Directors, have at </span></div><div class=\"ps6937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">the time of approving the consolidated financial statements, assessed </span></div><div class=\"ps6938 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">that the Group has adequate resources to continue as a going </span></div><div class=\"ps6939 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">concern for at least </span><span class=\"f charStyle-c1b8f9f6 ps6958\">12 months</span><span class=\"f charStyle-c1b8f9f6 ps6959\"> after the balance sheet date. </span></div><div class=\"ps6960 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Thus, the Group continues to adopt the going concern basis of </span></div>accounting in preparing the consolidated financial statements.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfGoingConcernExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-505": {
   "value": "<div class=\"ps6993 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Principles of consolidation<span id=\"ie2ddad2eb15049f783631ee74559a9bc\"></span></span></div><div class=\"ps6994 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The consolidated financial statements include the Parent Company, </span></div><div class=\"ps6995 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Cadeler A/S, and all enterprises over which the Parent Company has </span></div><div class=\"ps6996 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">control. Control of an enterprise exists when the Company has </span></div><div class=\"ps6997 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">exposure, or rights to, variable returns from its involvement with the </span></div><div class=\"ps3185 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">enterprise and has the ability to control those returns through its </span></div><div class=\"ps6998 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">power over the enterprise. Accordingly, the consolidated financial </span></div><div class=\"ps6999 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">statements of the Group are composed of the financial statements of </span></div><div class=\"ps7000 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the Company Cadeler A/S and its subsidiaries (which are wholly </span></div><div class=\"ps7001 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">owned by the Parent Company, Cadeler A/S). </span></div><div class=\"ps7002 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">All intra-group assets and liabilities, equity, income, expenses and </span></div><div class=\"ps7003 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">cash flows relating to transactions between Group enterprises are </span></div>eliminated in full on consolidation.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-507": {
   "value": "<div class=\"ps7004 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Currency translation <span id=\"ifc610dea6b014f188995bddfabe66dbe\"></span></span></div><div class=\"ps7009 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The financial statements are presented in eur</span><span class=\"f charStyle-c1b8f9f6 ps7005\">o (</span><span class=\"f charStyle-c1b8f9f6 ps7006\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7007\">), w</span><span class=\"f charStyle-c1b8f9f6 ps7008\">hich is also </span></div><div class=\"ps7010 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the functional currency of the parent company. For each entity in the </span></div><div class=\"ps7011 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Group, the Group determines the functional currency and items </span></div><div class=\"ps305 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">included in the financial statements of each entity are measured </span></div><div class=\"ps306 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">using that functional currency. </span></div><div class=\"ps7012 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">As of 1 January 2025, all entities of the former Eneti Group have </span></div><div class=\"ps308 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">changed their functional currency from USD to EUR. The change is </span></div><div class=\"ps309 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">driven by Cadeler\u2019s acquisition of the former Eneti Group at the end </span></div><div class=\"ps7013 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">of 2023 followed by changes to the financing, organisation and </span></div><div class=\"ps7014 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">activities whereby it is Management\u2019s assessment that the primary </span></div><div class=\"ps2561 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">economic environment in which each of the entities operates has </span></div><div class=\"ps7015 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">changed to be mainly denominated in EUR. Accordingly, </span></div><div class=\"ps3222 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">management has determined that EUR is the new functional currency </span></div><div class=\"ps7016 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">that will most faithfully reflect the underlying transactions, events and </span></div><div class=\"ps7018 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">conditions relevant to the entities follow</span><span class=\"f charStyle-c1b8f9f6 ps7017\">ing the acquisition. The </span></div><div class=\"ps7019 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">amount recognised in other comprehensive income is not reclassified </span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">to profit or loss until disposal of the operation.</span></div><div class=\"ps421 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">As some of the Group entities are conducting business in an </span></div><div class=\"ps422 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">international environment, management has applied judgement to </span></div><div class=\"ps423 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">determine the primary economic environment considering that the </span></div><div class=\"ps424 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">underlying transactions, events and conditions.</span></div><div class=\"ps425 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">Transactions in a currency other than the </span><span class=\"f charStyle-c1b8f9f6 ps7021\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7022\"> (\u201cforeign currency\u201d) are </span></div><div class=\"ps426 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">translated into </span><span class=\"f charStyle-c1b8f9f6 ps7023\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7024\"> using the exchange rates at the dates of the </span></div><div class=\"ps427 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">transactions. Foreign exchange differences resulting from the </span></div><div class=\"ps5458 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">settlement of such transactions and from the translation of monetary </span></div><div class=\"ps5459 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">assets and liabilities denominated in foreign currencies at the closing </span></div><div class=\"ps5460 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">rates at the balance sheet are recognised in profit or loss. Non-</span></div><div class=\"ps7025 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">monetary items measured at fair values in foreign currencies are </span></div><div class=\"ps7026 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">translated using the exchange rates at the date when the fair values </span></div><div class=\"ps7027 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">are determined. </span></div><div class=\"ps5464 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">Foreign exchange gains and losses impacting profit or loss are </span></div><div class=\"ps5465 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">presented in the statement of profit or loss within financial income or </span></div>financial expenses.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-506": {
   "value": "<div class=\"ps7004 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Currency translation <span id=\"ifc610dea6b014f188995bddfabe66dbe\"></span></span></div><div class=\"ps7009 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The financial statements are presented in eur</span><span class=\"f charStyle-c1b8f9f6 ps7005\">o (</span><span class=\"f charStyle-c1b8f9f6 ps7006\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7007\">), w</span><span class=\"f charStyle-c1b8f9f6 ps7008\">hich is also </span></div><div class=\"ps7010 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the functional currency of the parent company. For each entity in the </span></div><div class=\"ps7011 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Group, the Group determines the functional currency and items </span></div><div class=\"ps305 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">included in the financial statements of each entity are measured </span></div><div class=\"ps306 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">using that functional currency. </span></div><div class=\"ps7012 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">As of 1 January 2025, all entities of the former Eneti Group have </span></div><div class=\"ps308 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">changed their functional currency from USD to EUR. The change is </span></div><div class=\"ps309 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">driven by Cadeler\u2019s acquisition of the former Eneti Group at the end </span></div><div class=\"ps7013 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">of 2023 followed by changes to the financing, organisation and </span></div><div class=\"ps7014 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">activities whereby it is Management\u2019s assessment that the primary </span></div><div class=\"ps2561 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">economic environment in which each of the entities operates has </span></div><div class=\"ps7015 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">changed to be mainly denominated in EUR. Accordingly, </span></div><div class=\"ps3222 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">management has determined that EUR is the new functional currency </span></div><div class=\"ps7016 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">that will most faithfully reflect the underlying transactions, events and </span></div><div class=\"ps7018 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">conditions relevant to the entities follow</span><span class=\"f charStyle-c1b8f9f6 ps7017\">ing the acquisition. The </span></div><div class=\"ps7019 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">amount recognised in other comprehensive income is not reclassified </span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">to profit or loss until disposal of the operation.</span></div><div class=\"ps421 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">As some of the Group entities are conducting business in an </span></div><div class=\"ps422 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">international environment, management has applied judgement to </span></div><div class=\"ps423 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">determine the primary economic environment considering that the </span></div><div class=\"ps424 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">underlying transactions, events and conditions.</span></div><div class=\"ps425 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">Transactions in a currency other than the </span><span class=\"f charStyle-c1b8f9f6 ps7021\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7022\"> (\u201cforeign currency\u201d) are </span></div><div class=\"ps426 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">translated into </span><span class=\"f charStyle-c1b8f9f6 ps7023\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7024\"> using the exchange rates at the dates of the </span></div><div class=\"ps427 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">transactions. Foreign exchange differences resulting from the </span></div><div class=\"ps5458 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">settlement of such transactions and from the translation of monetary </span></div><div class=\"ps5459 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">assets and liabilities denominated in foreign currencies at the closing </span></div><div class=\"ps5460 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">rates at the balance sheet are recognised in profit or loss. Non-</span></div><div class=\"ps7025 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">monetary items measured at fair values in foreign currencies are </span></div><div class=\"ps7026 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">translated using the exchange rates at the date when the fair values </span></div><div class=\"ps7027 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">are determined. </span></div><div class=\"ps5464 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">Foreign exchange gains and losses impacting profit or loss are </span></div><div class=\"ps5465 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">presented in the statement of profit or loss within financial income or </span></div>financial expenses.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-510": {
   "value": "<div class=\"ps6993 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps918\">Other reserves and retained earnings<span id=\"i47faf81da68647fa949a1ce56f94e32c\"></span></span></div><div class=\"ps6994 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Other reserves include hedging reserves, cost of hedging reserves, </span></div><div class=\"ps6995 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">and foreign currency translation reserves. Hedging reserves reflect </span></div><div class=\"ps6996 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">the changes in the fair value of derivative financial instruments </span></div><div class=\"ps6997 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">designated as cash flow hedges. Cost of hedging reserves include the </span></div><div class=\"ps3185 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">time value of options and other costs associated with hedging </span></div><div class=\"ps6998 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">activities. Foreign currency translation reserves include the cumulative </span></div><div class=\"ps6999 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">translation adjustments (CTA), which arise from the conversion of the </span></div><div class=\"ps7000 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">financial statements of foreign operations into the reporting currency. </span></div><div class=\"ps7001 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Retained earnings include results from previous periods, changes to </span></div><div class=\"ps7029 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">equity arising from business combination purchase price, and share-</span></div><div class=\"ps7030 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">based payments. </span></div><div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies<span id=\"ic09a383af8ab4b488bf22a7990e12a85\"></span></span></div><div class=\"ps372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Derivative financial instruments are initially recognised at fair value on the date the derivative contract is </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">entered into and are subsequently remeasured at fair value through profit and loss. Derivatives are carried </span></div><div class=\"ps400 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">as financial assets, presented as derivative assets, when the fair value is positive and as financial liabilities, </span></div><div class=\"ps7422 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">presented as derivative liabilities, when the fair value is negative.</span></div><div class=\"ps376 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">At the inception of a hedge relationship, the Group formally designates and documents the hedge </span></div><div class=\"ps377 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">relationship, including the risk management objective and strategy for undertaking the hedge.</span></div><div class=\"ps10283 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Changes in the fair value of derivative financial instruments designated as cash flow hedges are recognised </span></div><div class=\"ps7438 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">in other comprehensive income and presented under \u201cHedging reserves\u201d (equity). Where the expected </span></div><div class=\"ps380 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">future transactions result in the acquisition of non-financial assets, amounts deferred in equity are </span></div><div class=\"ps381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">transferred from equity and included in the cost of the asset. Where expected future transactions result in </span></div><div class=\"ps382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">income or expenses, amounts deferred under in equity are transferred from equity to the statement of </span></div><div class=\"ps383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">profit and loss, in the same item as the hedged transaction, as a reclassification adjustment. In addition, the </span></div><div class=\"ps384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">entity may transfer the cumulative fair value changes recognised in equity upon derecognition of the </span></div><div class=\"ps403 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">hedged item. </span></div><div class=\"ps386 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Changes in the fair value of derivative financial instruments not designated as hedges are recognised in the </span></div><div class=\"ps404 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">statement of profit and loss. Certain borrowing facilities when undrawn do not qualify for hedge </span></div><div class=\"ps405 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">accounting. Changes in the fair value of these derivative financial instruments are therefore recognised in </span></div><div class=\"ps406 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the statement of profit and loss under \u201cFinancial income\u201d or \u201cFinancial expenses\u201d for interest rate swaps. </span></div><div class=\"ps390 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The amount included in the hedging reserve is the lower, in absolute terms, of the cumulative fair value </span></div><div class=\"ps391 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">adjustment of the hedging instrument and the hedged item. Hedge ineffectiveness is recognised in the </span></div><div class=\"ps408 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">consolidated statement of profit and loss. Cost of hedging reserves include the time value of options. </span></div><div class=\"ps409 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">These costs are recognised separately in Other Comprehensive Income (OCI) and are amortised over the </span></div><div class=\"ps410 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">life of the hedging instrument, in accordance with the specific hedging relationship. If the hedge is </span></div><div class=\"ps411 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">discontinued, any unamortised cost of hedging is recognised immediately in profit or loss.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-509": {
   "value": "<div class=\"ps6993 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps918\">Other reserves and retained earnings<span id=\"i47faf81da68647fa949a1ce56f94e32c\"></span></span></div><div class=\"ps6994 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Other reserves include hedging reserves, cost of hedging reserves, </span></div><div class=\"ps6995 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">and foreign currency translation reserves. Hedging reserves reflect </span></div><div class=\"ps6996 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">the changes in the fair value of derivative financial instruments </span></div><div class=\"ps6997 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">designated as cash flow hedges. Cost of hedging reserves include the </span></div><div class=\"ps3185 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">time value of options and other costs associated with hedging </span></div><div class=\"ps6998 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">activities. Foreign currency translation reserves include the cumulative </span></div><div class=\"ps6999 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">translation adjustments (CTA), which arise from the conversion of the </span></div><div class=\"ps7000 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">financial statements of foreign operations into the reporting currency. </span></div><div class=\"ps7001 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Retained earnings include results from previous periods, changes to </span></div><div class=\"ps7029 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">equity arising from business combination purchase price, and share-</span></div><div class=\"ps7030 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">based payments. </span></div><div class=\"ps7781 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Accounting policies<span id=\"i0e2a59b7f3894ea2994a4e401dde6b73\"></span></span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Trade and other payables represent liabilities for goods and services provided to the Group before the end </span></div><div class=\"ps7146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">of the financial year, that remain unpaid. They are classified as current liabilities if payment is due within one </span></div><div class=\"ps7149 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">year or less (within the normal operating cycle of the business, if longer). Otherwise, they are presented as </span></div><div class=\"ps7564 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">non-current liabilities. Trade and other payables are initially recognised at fair value, and subsequently </span></div><div class=\"ps7565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">carried at amortised cost, using the effective interest method. </span></div><div class=\"ps7103 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">A provision is recognised for certain contracts with customers where the unavoidable costs of meeting the </span></div><div class=\"ps7104 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">performance obligations exceed the economic benefits expected to be received. These costs are expected </span></div><div class=\"ps7150 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">to be incurred in the following financial year.</span></div><div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies<span id=\"ic09a383af8ab4b488bf22a7990e12a85\"></span></span></div><div class=\"ps372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Derivative financial instruments are initially recognised at fair value on the date the derivative contract is </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">entered into and are subsequently remeasured at fair value through profit and loss. Derivatives are carried </span></div><div class=\"ps400 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">as financial assets, presented as derivative assets, when the fair value is positive and as financial liabilities, </span></div><div class=\"ps7422 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">presented as derivative liabilities, when the fair value is negative.</span></div><div class=\"ps376 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">At the inception of a hedge relationship, the Group formally designates and documents the hedge </span></div><div class=\"ps377 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">relationship, including the risk management objective and strategy for undertaking the hedge.</span></div><div class=\"ps10283 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Changes in the fair value of derivative financial instruments designated as cash flow hedges are recognised </span></div><div class=\"ps7438 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">in other comprehensive income and presented under \u201cHedging reserves\u201d (equity). Where the expected </span></div><div class=\"ps380 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">future transactions result in the acquisition of non-financial assets, amounts deferred in equity are </span></div><div class=\"ps381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">transferred from equity and included in the cost of the asset. Where expected future transactions result in </span></div><div class=\"ps382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">income or expenses, amounts deferred under in equity are transferred from equity to the statement of </span></div><div class=\"ps383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">profit and loss, in the same item as the hedged transaction, as a reclassification adjustment. In addition, the </span></div><div class=\"ps384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">entity may transfer the cumulative fair value changes recognised in equity upon derecognition of the </span></div><div class=\"ps403 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">hedged item. </span></div><div class=\"ps386 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Changes in the fair value of derivative financial instruments not designated as hedges are recognised in the </span></div><div class=\"ps404 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">statement of profit and loss. Certain borrowing facilities when undrawn do not qualify for hedge </span></div><div class=\"ps405 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">accounting. Changes in the fair value of these derivative financial instruments are therefore recognised in </span></div><div class=\"ps406 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the statement of profit and loss under \u201cFinancial income\u201d or \u201cFinancial expenses\u201d for interest rate swaps. </span></div><div class=\"ps390 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The amount included in the hedging reserve is the lower, in absolute terms, of the cumulative fair value </span></div><div class=\"ps391 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">adjustment of the hedging instrument and the hedged item. Hedge ineffectiveness is recognised in the </span></div><div class=\"ps408 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">consolidated statement of profit and loss. Cost of hedging reserves include the time value of options. </span></div><div class=\"ps409 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">These costs are recognised separately in Other Comprehensive Income (OCI) and are amortised over the </span></div><div class=\"ps410 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">life of the hedging instrument, in accordance with the specific hedging relationship. If the hedge is </span></div><div class=\"ps411 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">discontinued, any unamortised cost of hedging is recognised immediately in profit or loss.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-508": {
   "value": "<div class=\"ps6993 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps918\">Other reserves and retained earnings<span id=\"i47faf81da68647fa949a1ce56f94e32c\"></span></span></div><div class=\"ps6994 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Other reserves include hedging reserves, cost of hedging reserves, </span></div><div class=\"ps6995 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">and foreign currency translation reserves. Hedging reserves reflect </span></div><div class=\"ps6996 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">the changes in the fair value of derivative financial instruments </span></div><div class=\"ps6997 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">designated as cash flow hedges. Cost of hedging reserves include the </span></div><div class=\"ps3185 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">time value of options and other costs associated with hedging </span></div><div class=\"ps6998 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">activities. Foreign currency translation reserves include the cumulative </span></div><div class=\"ps6999 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">translation adjustments (CTA), which arise from the conversion of the </span></div><div class=\"ps7000 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">financial statements of foreign operations into the reporting currency. </span></div><div class=\"ps7001 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Retained earnings include results from previous periods, changes to </span></div><div class=\"ps7029 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">equity arising from business combination purchase price, and share-</span></div><div class=\"ps7030 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">based payments. </span></div><div class=\"ps8159 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps918\">Equity-settled transactions<span id=\"ide32f3e76d934c0fb38aac612e53c8e7\"></span></span></div><div class=\"ps8160 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">The cost of equity-settled transactions is determined by the fair value </span></div><div class=\"ps8161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">at the date on which the grant is made using an appropriate </span></div><div class=\"ps8162 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">valuation model. That cost is recognised as employee benefits </span></div><div class=\"ps4214 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">expenses, together with a corresponding increase in equity (retained </span></div><div class=\"ps4215 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">earnings), over the period in which the service and, where applicable, </span></div><div class=\"ps4216 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">the performance conditions are fulfilled (the vesting period). The </span></div><div class=\"ps4217 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">cumulative expense recognised for equity-settled transactions at each </span></div><div class=\"ps4218 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">reporting date until the vesting date reflects both the extent to which </span></div><div class=\"ps3246 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">the vesting period has expired and the Group\u2019s best estimate of the </span></div><div class=\"ps8163 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">number of equity instruments that will ultimately vest. The expense or </span></div><div class=\"ps8164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">credit in the statement of profit or loss for a period represents the </span></div><div class=\"ps1932 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">movement in cumulative expense recognised at the beginning and </span></div><div class=\"ps1933 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">end of that period.</span></div><div class=\"ps7019 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Service and non-market performance conditions are not considered </span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">when determining the grant date fair value of awards. Instead, the </span></div><div class=\"ps7146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">likelihood of these conditions being met is assessed as part of the </span></div><div class=\"ps7149 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Group\u2019s best estimate of the number of equity instruments that will </span></div><div class=\"ps7564 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">ultimately vest. Market performance conditions are reflected directly </span></div><div class=\"ps7565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">in the grant date fair value.</span></div><div class=\"ps7103 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Any other conditions attached to an award, that do not include an </span></div><div class=\"ps7104 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">associated service requirement, are considered to be non-vesting </span></div><div class=\"ps7150 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">conditions. Non-vesting conditions are reflected in the fair value of </span></div><div class=\"ps7151 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">an award and result in an immediate expensing, unless there are also </span></div><div class=\"ps7152 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">service and/or performance conditions.</span></div><div class=\"ps5460 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">No expense is recognised for awards that do not ultimately vest as a </span></div><div class=\"ps7025 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">result non-market performance and/or service conditions not being </span></div><div class=\"ps7026 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">met. </span></div><div class=\"ps5463 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Where awards include a market or non-vesting condition, the </span></div><div class=\"ps5464 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">transactions are treated as vested regardless of whether the market </span></div><div class=\"ps5465 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">or non-vesting condition is satisfied, provided that all other </span></div><div class=\"ps5466 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">performance and/or service conditions are satisfied.</span></div><div class=\"ps7028 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The dilutive effect of outstanding options is reflected as additional </span></div><div class=\"ps5468 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">share dilution in the computation of diluted earnings per share in a </span></div><div class=\"ps5469 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">loss situation only where the loss per share is reduced.</span></div><div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies<span id=\"ic09a383af8ab4b488bf22a7990e12a85\"></span></span></div><div class=\"ps372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Derivative financial instruments are initially recognised at fair value on the date the derivative contract is </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">entered into and are subsequently remeasured at fair value through profit and loss. Derivatives are carried </span></div><div class=\"ps400 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">as financial assets, presented as derivative assets, when the fair value is positive and as financial liabilities, </span></div><div class=\"ps7422 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">presented as derivative liabilities, when the fair value is negative.</span></div><div class=\"ps376 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">At the inception of a hedge relationship, the Group formally designates and documents the hedge </span></div><div class=\"ps377 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">relationship, including the risk management objective and strategy for undertaking the hedge.</span></div><div class=\"ps10283 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Changes in the fair value of derivative financial instruments designated as cash flow hedges are recognised </span></div><div class=\"ps7438 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">in other comprehensive income and presented under \u201cHedging reserves\u201d (equity). Where the expected </span></div><div class=\"ps380 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">future transactions result in the acquisition of non-financial assets, amounts deferred in equity are </span></div><div class=\"ps381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">transferred from equity and included in the cost of the asset. Where expected future transactions result in </span></div><div class=\"ps382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">income or expenses, amounts deferred under in equity are transferred from equity to the statement of </span></div><div class=\"ps383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">profit and loss, in the same item as the hedged transaction, as a reclassification adjustment. In addition, the </span></div><div class=\"ps384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">entity may transfer the cumulative fair value changes recognised in equity upon derecognition of the </span></div><div class=\"ps403 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">hedged item. </span></div><div class=\"ps386 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Changes in the fair value of derivative financial instruments not designated as hedges are recognised in the </span></div><div class=\"ps404 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">statement of profit and loss. Certain borrowing facilities when undrawn do not qualify for hedge </span></div><div class=\"ps405 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">accounting. Changes in the fair value of these derivative financial instruments are therefore recognised in </span></div><div class=\"ps406 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the statement of profit and loss under \u201cFinancial income\u201d or \u201cFinancial expenses\u201d for interest rate swaps. </span></div><div class=\"ps390 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The amount included in the hedging reserve is the lower, in absolute terms, of the cumulative fair value </span></div><div class=\"ps391 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">adjustment of the hedging instrument and the hedged item. Hedge ineffectiveness is recognised in the </span></div><div class=\"ps408 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">consolidated statement of profit and loss. Cost of hedging reserves include the time value of options. </span></div><div class=\"ps409 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">These costs are recognised separately in Other Comprehensive Income (OCI) and are amortised over the </span></div><div class=\"ps410 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">life of the hedging instrument, in accordance with the specific hedging relationship. If the hedge is </span></div><div class=\"ps411 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">discontinued, any unamortised cost of hedging is recognised immediately in profit or loss.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-511": {
   "value": "<div class=\"ps7031 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps918\">Statement of cash flows <span id=\"i0a872444d31d47f6aa58aca17f10afe8\"></span></span></div><div class=\"ps301 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">The statement of cash flows shows the Group\u2019s cash flows for the </span></div><div class=\"ps302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">year, classified as operating, investing and financing activities, net </span></div><div class=\"ps303 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">changes for the year in cash and cash equivalents as well as the </span></div><div class=\"ps304 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Group\u2019s cash and cash equivalents at the beginning and end of the </span></div><div class=\"ps7032 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">year. </span></div><div class=\"ps306 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Positive amounts indicate cash inflows, whereas negative amounts </span></div><div class=\"ps307 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">indicate cash outflows.</span></div><div class=\"ps6993 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Cash flows from operating activities<span id=\"i35a919a73302405580135f59817a44f6\"></span></span></div><div class=\"ps6994 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Cash flows from operating activities are stated as the profit or loss for </span></div><div class=\"ps6995 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the year adjusted for non-cash operating items such as depreciation, </span></div><div class=\"ps6996 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">changes in working capital and income tax paid or received. Working </span></div><div class=\"ps6997 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">capital includes current assets less current liabilities, excluding cash </span></div><div class=\"ps3185 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">and cash equivalents and interest income.</span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Cash flows from investing activities <span id=\"i23afe452205241b5a13a1c66b93da7e0\"></span></span></div><div class=\"ps7035 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Cash flows from investing activities comprise cash flows from the </span></div><div class=\"ps7036 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">acquisition and sale of non-current assets and businesses. Cash flows </span></div><div class=\"ps7037 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">from restricted cash are presented within investing activities.</span></div><div class=\"ps7038 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Cash flows from financing activities<span id=\"if80fd287c2974d04bd49f278b6eeff03\"></span></span></div><div class=\"ps7039 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Cash flows from financing activities comprise cash flows from </span></div><div class=\"ps7040 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">instalments on lease liabilities, and interest paid as well as proceeds </span></div><div class=\"ps72 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">from the issue of shares, restricted cash, treasury shares and debt as </span></div><div class=\"ps7041 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">well as the prepayment of borrowings.</span></div><div class=\"ps9883 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies <span id=\"i77381d018b0949e7983fba488dc3e9f9\"></span></span></div><div class=\"ps4894 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Cash and cash equivalents consist of cash net of short-term bank overdrafts, as these are considered an </span></div><div class=\"ps4895 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">integral part of the Group\u2019s cash management. Cash and cash equivalents are me</span><span class=\"f charStyle-c1b8f9f6 ps9884\">asured at amortised cost.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForCashFlowsExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-512": {
   "value": "<div class=\"ps7042 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">2.3. Changes in accounting policies and disclosures<span id=\"id07e8b1419b341b58752aad8d7866e6e\"></span></span></div><div class=\"ps2856 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps186\">2.3.1. New accounting policies and disclosures</span></div><div class=\"ps2951 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group has adopted standards and interpretations effective as of </span></div><div class=\"ps2952 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">1\u00a0January 2025</span><span class=\"f charStyle-c1b8f9f6 ps7043\">. Adoption of new, amended standards and </span></div><div class=\"ps2953 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">interpretations had no material impact on the Group\u2019s consolidated </span></div><div class=\"ps2954 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">financial statements.</span></div><div class=\"ps7044 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps186\">2.3.2. Standards issued but not yet effective </span></div><div class=\"ps7045 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">IASB has issued several new and amended accounting standards </span></div><div class=\"ps7046 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(IFRS) and interpretations (IFRS IC). The Group has assessed these </span></div><div class=\"ps2361 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">new and amended accounting standards and interpretations, and </span></div><div class=\"ps7047 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">does not anticipate any of them to have any material impact on </span></div><div class=\"ps7048 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">recognition or measurement in the consolidated financial statements.</span></div><div class=\"ps7019 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">IFRS 18 Presentation and Disclosure in Financial Statements, which </span></div><div class=\"ps7049 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">was issued in April 2024, becomes effective for reporting periods </span></div><div class=\"ps1089 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">beginning on or after 1 January 2027 and replaces IAS 1 Presentation </span></div><div class=\"ps7050 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">of Financial Statements. </span></div><div class=\"ps3155 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">The implementation will affect the presentation of the consolidated </span></div><div class=\"ps7051 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">statement of profit or loss with the introduction of specified </span></div><div class=\"ps7052 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">categories and specified sub totals. The changed presentation will </span></div><div class=\"ps7053 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">result in certain items being classified differently, such as foreign </span></div><div class=\"ps7054 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">exchange adjustments and interest income. These items will be </span></div><div class=\"ps7055 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">classified in the category as the related income and expense arise, </span></div><div class=\"ps7056 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">e.g. foreign exchange adjustments related to accounts payables or </span></div><div class=\"ps7057 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">receivables will be classified in the operating category and interest </span></div><div class=\"ps7058 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">income and foreign exchange adjustments arising from cash and </span></div><div class=\"ps7059 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">cash equivalents will be classified in the investing category. The </span></div><div class=\"ps5461 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">reported net results will not be affected. The implementation is also </span></div><div class=\"ps5462 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">expected to impact the presentation of statement of financial </span></div><div class=\"ps5463 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">position with goodwill being presented as a separate line item, the </span></div><div class=\"ps5464 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">starting point of the statement of cash flows changing to operating </span></div><div class=\"ps5465 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">profit or loss and the disclosures related to management defined </span></div><div class=\"ps5466 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">performance measures (MPM).</span></div><div class=\"ps7028 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">The Group is currently working to further identify and analyse the </span></div><div class=\"ps5468 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">implications on the consolidated financial statements. Our </span></div><div class=\"ps5469 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">interpretation of the application may evolve as additional guidance </span></div><div class=\"ps5470 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">will become available.</span></div><div class=\"ps7060 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">The Group expects to adopt the accounting standards and </span></div><div class=\"ps7061 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">interpretations as they become mandatory.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-513": {
   "value": "<div class=\"ps6993 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps918\">2.4. Material accounting judgements, estimates and <span id=\"i62c4a121b3b745fbbb6b724ca835a895\"></span></span></div><div class=\"ps7062 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps918\">assumptions</span></div><div class=\"ps7063 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">The preparation of the Group\u2019s consolidated financial statements </span></div><div class=\"ps7064 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">requires management to make judgements, estimates and </span></div><div class=\"ps7065 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">assumptions that affect the reported amounts of revenue, expenses, </span></div><div class=\"ps7066 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">assets and liabilities, accompanying disclosures, and the disclosure of </span></div><div class=\"ps7067 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">contingent liabilities. Uncertainty about these assumptions and </span></div><div class=\"ps7068 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">estimates could result in outcomes that require a material adjustment </span></div><div class=\"ps296 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">to the carrying amount of assets or liabilities affected in future </span></div><div class=\"ps297 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">periods.</span></div><div class=\"ps7069 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">The key assumptions concerning the future and other key sources of </span></div><div class=\"ps7070 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">estimation uncertainty at the reporting date that have a significant </span></div><div class=\"ps300 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">risk of causing a material adjustment to the carrying amounts of </span></div><div class=\"ps301 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">assets and liabilities within the next financial year are described </span></div><div class=\"ps302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">below. The Group has based its assumptions and estimates on </span></div><div class=\"ps303 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">parameters available when the consolidated financial statements </span></div><div class=\"ps304 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">were authorised for issuance. Existing circumstances and assumptions </span></div><div class=\"ps7032 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">about future developments, however, may change due to market </span></div><div class=\"ps7071 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">changes or circumstances that are beyond the control of the Group. </span></div><div class=\"ps7074 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Such changes are reflected in the assumptions when they </span><span class=\"f charStyle-c1b8f9f6 ps7072\">occur</span><span class=\"f charStyle-c1b8f9f6 ps7073\">.</span></div><div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Material estimates<span id=\"i7e364c74e1e547de8169128032896e36\"></span></span></div><div class=\"ps9 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps186\">Useful life of vessels</span></div><div class=\"ps7077 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The estimation made regarding the useful life of the O-class vessels </span></div><div class=\"ps7078 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">has been based on, among other things, an analysis made by an </span></div><div class=\"ps7079 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">external expert. The determined fatigue analysis is based on the </span></div><div class=\"ps1927 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">technical specification of the WTIV and comparable vessels. The </span></div><div class=\"ps1928 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">useful life of the vessels is estimated at </span><span class=\"f charStyle-c1b8f9f6 ps7080\">25 years</span><span class=\"f charStyle-c1b8f9f6 ps7081\">. </span></div><div class=\"ps3582 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In 2020,</span><span class=\"f charStyle-c1b8f9f6 ps7082\"> the Group acquired the above mentioned vessels which had </span></div><div class=\"ps1560 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">already been in use for </span><span class=\"f charStyle-c1b8f9f6 ps7083\">eight years</span><span class=\"f charStyle-c1b8f9f6 ps7084\">.</span><span class=\"f charStyle-c1b8f9f6 ps7085\"> Therefore, the remaining useful </span></div><div class=\"ps1564 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">life of these vessels is estimated at </span><span class=\"f charStyle-c1b8f9f6 ps7086\">17 years</span><span class=\"f charStyle-c1b8f9f6 ps7087\"> for all components except </span></div><div class=\"ps1118 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the jacking system and the main crane. These components have a </span></div><div class=\"ps1128 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">remaining useful life of </span><span class=\"f charStyle-c1b8f9f6 ps7088\">three</span><span class=\"f charStyle-c1b8f9f6 ps7089\"> years from the acquisition of the vessels. </span></div><div class=\"ps1130 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In </span><span class=\"f charStyle-c1b8f9f6 ps7090\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7091\">, the main crane of these vessels underwent an upgrade. The </span></div><div class=\"ps1131 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">old main crane was disposed of, and the new main crane was </span></div><div class=\"ps1136 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">capitalised</span><span class=\"f charStyle-c1b8f9f6 ps7092\">,</span><span class=\"f charStyle-c1b8f9f6 ps7093\"> with its useful life set to align with the remaining useful </span></div><div class=\"ps1137 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">life of the vessels. </span></div><div class=\"ps419 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">In 2023, as part of the business combination, the Group acquired </span><span class=\"f charStyle-c1b8f9f6 ps7094\">two</span><span class=\"f charStyle-c1b8f9f6 ps7095\"> </span></div><div class=\"ps420 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">additional vessels. </span><span class=\"f charStyle-c1b8f9f6 ps7096\">One</span><span class=\"f charStyle-c1b8f9f6 ps7097\"> of these vessels was delivered in 2015 and the </span></div><div class=\"ps421 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">other in 2012. Similar to the vessels acquired in 2020, the estimated </span></div><div class=\"ps422 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">useful life of these vessels, </span><span class=\"f charStyle-c1b8f9f6 ps7098\">25 years</span><span class=\"f charStyle-c1b8f9f6 ps7099\"> when first acquired, depends on </span></div><div class=\"ps423 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">initial delivery. Therefore, their remaining useful lives at acquisition </span></div><div class=\"ps424 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">date were assessed to be </span><span class=\"f charStyle-c1b8f9f6 ps7100\">17</span><span class=\"f charStyle-c1b8f9f6 ps6952\"> and </span><span class=\"f charStyle-c1b8f9f6 ps7101\">14 years</span><span class=\"f charStyle-c1b8f9f6 ps7102\"> respectively, and all </span></div><div class=\"ps7103 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">components will have the same useful life. Depreciation will be </span></div><div class=\"ps7104 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">calculated over the remaining useful life of these vessels.</span></div><div class=\"ps427 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">The estimation made regarding the useful life of New Builds has been </span></div><div class=\"ps5458 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">based on an internal technical analysis based on the technical </span></div><div class=\"ps5459 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">specification of the vessel and validated by an external expert. The </span></div><div class=\"ps5460 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">useful life of each New Build Vessel is estimated at </span><span class=\"f charStyle-c1b8f9f6 ps7105\">25 years</span><span class=\"f charStyle-c1b8f9f6 ps7106\">. </span></div><div class=\"ps5461 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">The residual value, useful life, and methods of depreciation of </span></div><div class=\"ps5462 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">property, plant, and equipment are reviewed at each financial year </span></div><div class=\"ps5463 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">end and adjusted accordingly, if appropriate. No changes were made </span></div><div class=\"ps5464 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">during </span><span class=\"f charStyle-c1b8f9f6 ps7107\">2025</span><span class=\"f charStyle-c1b8f9f6 ps7108\">. For further information, refer t</span><span class=\"f charStyle-c1b8f9f6 ps7109\">o Note 13.</span></div><div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps918\">Income tax<span id=\"i668d2f0da6e74831a3b376d5fa83cc2b\"></span></span></div><div class=\"ps9 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps918\">Pillar Two tax effects </span></div><div class=\"ps7077 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">In October 2021, more than 130 countries agreed on a two-pillar </span></div><div class=\"ps7078 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">approach to reform the international tax system. The Pillar Two rules </span></div><div class=\"ps7079 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">are designed to ensure that multinational corporations with </span><span class=\"f charStyle-c1b8f9f6 ps7110\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7111\"> 750 </span></div><div class=\"ps1927 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">million or more in annual revenue pay a minimum effective corporate </span></div><div class=\"ps1928 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">tax rate of 15% on income received in each jurisdiction in which they </span></div><div class=\"ps1751 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">operate.</span></div><div class=\"ps1560 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">The principal jurisdictions in which the Group may be exposed to </span></div><div class=\"ps1564 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">additional taxation under Pillar Two include Denmark, the United </span></div><div class=\"ps1118 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Kingdom, and Cyprus, all of which have enacted legislation </span></div><div class=\"ps1128 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">implementing these rules. However, this legislation does not currently </span></div><div class=\"ps1130 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">apply to the Group, as its consolidated revenue is lower than </span><span class=\"f charStyle-c1b8f9f6 ps7112\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7113\"> 750 </span></div><div class=\"ps1131 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">million.</span></div><div class=\"ps4762 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">The Group continues to assess and monitor the potential future </span></div><div class=\"ps5217 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">impact of the Pillar Two rules on its business. Based on the Group\u2019s </span></div><div class=\"ps3540 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">initial assessment, a portion of its future income in these jurisdictions </span></div><div class=\"ps3541 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">may be subject to top-up tax under the new rules, noting that </span></div><div class=\"ps3542 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">international shipping income is excluded from the calculation of </span></div><div class=\"ps3543 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">GloBE income under Pillar Two, and certain other exclusions may also </span></div><div class=\"ps1242 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">apply.</span></div><div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Impairment of non-financial assets<span id=\"i994d73ad72434199ac78f56b0f8d01ea\"></span></span></div><div class=\"ps7118 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Management is responsible for the identification of internal and </span></div><div class=\"ps7119 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">external indicators of impairment related to non-financial assets. If an </span></div><div class=\"ps7120 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">indicator of impairment is identified, assessment of whether an </span></div><div class=\"ps293 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">impairment test is required will be conducted. </span></div><div class=\"ps7067 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The recoverable amount depends on the fair value less cost of </span></div><div class=\"ps7068 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">disposal, and the value in use which is impacted by the discount rate </span></div><div class=\"ps296 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">used in the DCF model as well as future cash in-flows and growth </span></div><div class=\"ps297 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">rate assumptions. For further information please refer to</span><span class=\"f charStyle-c1b8f9f6 ps7121\"> Note 12.</span></div><div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps882\">Material judgements<span id=\"ic52a3ad2f2854eecacef11c134d921da\"></span></span></div><div class=\"ps7118 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps882\">Identification of CGU for the purpose of goodwill impairment</span></div><div class=\"ps7122 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">For the purpose of goodwill impairment, management has assessed </span></div><div class=\"ps7125 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">that Cadeler has </span><span class=\"f charStyle-c1b8f9f6 ps7123\">two</span><span class=\"f charStyle-c1b8f9f6 ps7124\"> cash generating units (CGUs), consisting of:</span></div><div class=\"ps7079 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2377\">\u2022<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps2378\">the transport and installation of wind turbine generators </span></div><div class=\"ps1927 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2378\">and foundation installation vessels (WTGFIVs) and</span></div><div class=\"ps3581 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2377\">\u2022<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps2378\">O&amp;MV</span></div><div class=\"ps1764 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">The wind turbine generators and foundations vessels (WTGFIV) CGU </span></div><div class=\"ps1765 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">is comprised of the Cadeler vessel class covering the O-Class, P-Class, </span></div><div class=\"ps1766 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">M-Class and A-Class and Wind Scylla vessels, which are largely </span></div><div class=\"ps1767 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">interchangeable, and the cash flows generated by them are </span></div><div class=\"ps1784 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">interdependent. These vessels are operated collectively, employed </span></div><div class=\"ps1785 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">interchangeably, and actively managed to meet the needs of our </span></div><div class=\"ps4761 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">customers in that market. The O&amp;M CGU is comprised of the </span><span class=\"f charStyle-c1b8f9f6 ps7126\">two</span><span class=\"f charStyle-c1b8f9f6 ps7127\"> </span></div><div class=\"ps4762 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">vessels Wind Zaratan and Wind Keeper, which have different </span></div><div class=\"ps5217 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">specifications and generate cash flows that are independent and </span></div><div class=\"ps3540 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">separable from the other vessels.</span></div><div class=\"ps7019 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps918\">Revenue recognition</span></div><div class=\"ps7128 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Judgement is applied when determining whether a contract contains </span></div><div class=\"ps7129 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">one or more performance obligations. Judgement is applied as </span></div><div class=\"ps7130 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">complexities arise when multiple types of promises to the customer </span></div><div class=\"ps7131 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">are bundled. </span></div><div class=\"ps7132 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Evaluating the criteria for revenue recognition requires </span></div><div class=\"ps7133 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">management's judgement to identify and assess the performance </span></div><div class=\"ps7134 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">obligations within a contract. This includes assessing the nature of </span></div><div class=\"ps7135 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">performance obligations and whether they are distinct or should be </span></div><div class=\"ps7136 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">combined with other performance obligations to determine whether </span></div><div class=\"ps7137 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">the performance obligations are satisfied over time or at a point in </span></div><div class=\"ps7138 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">time. </span></div><div class=\"ps4720 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">In contracts where multiple activities are bundled, judgement is </span></div><div class=\"ps7139 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">applied in the determination of the most appropriate recognition </span></div><div class=\"ps7140 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">method and the most appropriate measure of progress. Both </span></div><div class=\"ps7141 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">judgements have a primary impact on the timing and amount of </span></div><div class=\"ps7142 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">revenue to be recognised.</span></div><div class=\"ps7019 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Evaluating the application of the criteria for revenue recognition for </span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">contracts with customers requires management's judgement to </span></div><div class=\"ps7146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">assess and determine the following: </span></div><div class=\"ps422 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1760\">\u2022<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1761\">Identification of performance obligations within the </span></div><div class=\"ps423 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">contract, including assessing their nature and determining </span></div><div class=\"ps424 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">whether they are distinct or should be combined, as well as </span></div><div class=\"ps7103 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">whether they are satisfied over time or at a point in time. </span></div><div class=\"ps426 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1760\">\u2022<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1761\">Determination of the transaction price, including an </span></div><div class=\"ps427 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">assessment of variable consideration in the contract. </span></div><div class=\"ps7057 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1760\">\u2022<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1761\">In contracts where multiple performance obligation are </span></div><div class=\"ps7058 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">bundled, the allocation of the transaction price to </span></div><div class=\"ps7059 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">performance obligations in order to determine the stand-</span></div><div class=\"ps5461 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">alone selling price of each performance obligation identified </span></div><div class=\"ps5462 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">in the contract using key assumptions that may include </span></div><div class=\"ps5463 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">observable market inputs and expected margin in the </span></div><div class=\"ps5464 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">activities.</span></div><div class=\"ps7147 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Macroeconomic factors and climate risks<span id=\"i6f1a61f1ac6e4573a25a0974f65eca00\"></span></span></div><div class=\"ps405 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">As part of its commitment to transparency and risk management, </span></div><div class=\"ps406 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Cadeler recognises the significance of macroeconomic factors and </span></div><div class=\"ps407 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">climate risks in financial evaluations. These factors are integral to </span></div><div class=\"ps7148 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">assessing the useful lives and residual values of assets and </span></div><div class=\"ps7019 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">conducting Discounted Cash Flow (DCF) analyses for impairment </span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">testing. Operating within the offshore wind installation sector, </span></div><div class=\"ps7146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">Cadeler\u2019s fleet supports the energy transition, a key driver of long-</span></div><div class=\"ps7149 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">term demand. </span></div><div class=\"ps423 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">Management has evaluated climate-related risks, including regulatory </span></div><div class=\"ps424 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">developments, technological advancements, and market shifts, and </span></div><div class=\"ps7103 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">does not currently identify indicators requiring changes to the </span></div><div class=\"ps7104 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">Group\u2019s depreciation assumptions, residual values, or impairment </span></div><div class=\"ps7150 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">outlook. The Group\u2019s vessels are designed to accommodate evolving </span></div><div class=\"ps7151 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">industry requirements, mitigating the risk of obsolescence from </span></div><div class=\"ps7152 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">climate policies or emissions regulations.</span></div><div class=\"ps5460 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">Cadeler\u2019s assessment considers potential financial impacts of climate-</span></div><div class=\"ps7025 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">related risks, including operational disruptions from extreme weather, </span></div><div class=\"ps7026 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">supply chain vulnerabilities, and shifting industry standards. While </span></div><div class=\"ps7027 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">climate risks could influence project timing or infrastructure </span></div><div class=\"ps7153 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">investments, there is no evidence suggesting a material impact on </span></div><div class=\"ps7154 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">asset valuations. The useful life of the Group\u2019s vessels is reviewed </span></div><div class=\"ps7155 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">regularly considering emerging industry trends, and current market </span></div><div class=\"ps7156 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">conditions support the expectation that our assets will continue to </span></div><div class=\"ps7157 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">generate economic benefits as planned. Additionally, ongoing </span></div><div class=\"ps6930 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">investments in modern, upgradeable vessels enhance adaptability to </span></div><div class=\"ps7019 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">future regulatory changes, further supporting our financial </span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">assumptions.</span></div><div class=\"ps421 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Beyond climate risks, Cadeler monitors broader macroeconomic </span></div><div class=\"ps422 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">conditions, including inflationary pressures, interest rate fluctuations, </span></div><div class=\"ps423 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">and geopolitical uncertainties that may impact operations. The </span></div><div class=\"ps424 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">international macroeconomic situation is currently characterised by </span></div><div class=\"ps7103 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">material uncertainty, mainly due to the elevated levels of public debt </span></div><div class=\"ps7104 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">in many of the leading global economies, increasing interest and </span></div><div class=\"ps7150 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">inflation rates, the war in Ukraine, the imposition of sanctions against </span></div><div class=\"ps7151 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Russia, conflict in the Middle East, European energy crises and global </span></div><div class=\"ps7152 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">supply-chain constraints. Over the past year, the sector has </span></div><div class=\"ps7158 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">experienced continued negative sentiment and political headwinds in </span></div><div class=\"ps7159 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">the United States. The energy sector remains subject to volatility due </span></div><div class=\"ps7160 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">to regulatory shifts, oil prices and economic developments, and we </span></div><div class=\"ps7162 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">remain proactive in integ</span><span class=\"f charStyle-c1b8f9f6 ps7161\">rating these factors into financial </span></div><div class=\"ps2791 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">evaluations. Through continuous assessment and review, we ensure </span></div><div class=\"ps2792 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">that our accounting policies reflect a comprehensive understanding </span></div><div class=\"ps2793 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">of macroeconomic and climate-related r</span><span class=\"f charStyle-c1b8f9f6 ps7163\">isks, maintaining a robust </span></div><div class=\"ps2794 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">approach to financial reporting and impairment analyses. For further </span></div><div class=\"ps2795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">information on the risks to which Cadeler is exposed, refer to the </span></div><div class=\"ps2796 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Financial review.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-514": {
   "value": "<div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 3</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Revenue<span id=\"iedc7f7a173b14d37be4f14892a26b431_129152\"></span><span id=\"i46e0e7a2ec8343f2a2538cc475e76a04\"></span></span></div><div class=\"ps7168 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-3dadb26b ps186\">The Group is a leading supplier to the offshore wind industry, </span></div><div class=\"ps7169 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-3dadb26b ps186\">specialising in T&amp;I and O&amp;M services rendered to customers in Europe, </span></div><div class=\"ps7171 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-3dadb26b ps186\">Asia, and the United States.</span><span class=\"f charStyle-3dadb26b ps7170\"> The Group owns and operates the world's </span></div><div class=\"ps7172 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-3dadb26b ps186\">largest, most advanced, and most flexible fleet of wind turbine transport </span></div><div class=\"ps7173 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-3dadb26b ps186\">and installation vessels.The Group\u2019s revenue is dependent on project </span></div><div class=\"ps7174 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-3dadb26b ps186\">contracts and vessel charters for the employment and utilization of the </span></div><div class=\"ps3331 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-3dadb26b ps186\">vessels. The customers are typically major project developers or energy </span></div><div class=\"ps7175 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-3dadb26b ps186\">companies that operate globally, and the current order backlog spans a </span></div><div class=\"ps3258 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-3dadb26b ps186\">number of years. Refer to separate information on major customers and </span></div><div class=\"ps3259 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-3dadb26b ps186\">order backlog below. T</span><span class=\"f charStyle-3dadb26b ps7176\">he Group has operated </span><span class=\"f charStyle-3dadb26b ps7177\">nine</span><span class=\"f charStyle-3dadb26b ps7178\"> vessels compared </span></div><div class=\"ps3260 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-3dadb26b ps186\">to </span><span class=\"f charStyle-3dadb26b ps7179\">five</span><span class=\"f charStyle-3dadb26b ps7180\"> operating vessels in 2024. The increase in the number of </span></div><div class=\"ps3261 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-3dadb26b ps186\">operating vessels in 2025 compared to 2024 is the main driver for </span></div><div class=\"ps7181 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-3dadb26b ps186\">increased revenue.</span></div><div class=\"ps7182 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-296ed202 ps186\">The Group derives its revenue from fees charged to our customers for </span></div><div class=\"ps7183 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-296ed202 ps186\">the use of our vessels and related services. The Group\u2019s contracts with </span></div><div class=\"ps7184 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-296ed202 ps186\">customers comprises the following main revenue generating activities:</span></div><div class=\"ps7185 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Time-charter activities represents revenue earned from time charter </span></div><div class=\"ps7186 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">contracts and time charter related activities. Revenue from time </span></div><div class=\"ps7187 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">charter hire services are contracts with customers where the Group </span></div><div class=\"ps7188 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">utilizes its vessels, equipment and crew to deliver a service to the </span></div><div class=\"ps7189 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">customer normally based on either a fixed day rate or milestone </span></div><div class=\"ps7190 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">deliverables. Contracts may also include other promises such as </span></div><div class=\"ps7191 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">mobilization and demobilization, provision of bunker services, </span></div><div class=\"ps3173 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">catering and accommodation.</span></div><div class=\"ps4162 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Transportation and installation activities (T&amp;I) represents contracts </span></div><div class=\"ps3221 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">with customers where the Group utilises its vessels, equipment and </span></div><div class=\"ps7192 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">crew to perform the transportation and installation of offshore wind </span></div><div class=\"ps7193 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">turbine foundations as well as heavy lifting operations, </span></div><div class=\"ps7194 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">decommissioning and planning and engineering.</span></div><div class=\"ps7195 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Other revenue represents cost recharges and other personnel </span></div><div class=\"ps7196 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">services revenue, as well as early termination fees by customers.</span></div><div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 3</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Revenue<span id=\"if76fdac0ed4440cf8a96234aef822a12\"></span></span></div><div class=\"ps6961 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-cd31f1a5 ps186\">Continued from previous page</span></div><div class=\"ps7198 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Disaggregation of revenue from contracts with customers by activity<span id=\"i57103e2770ae4a589800f7333c16e287\"></span></span></div><div class=\"ps6995 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The following table provides information about disaggregated revenue. </span></div><div class=\"ps7212 ss0\"><div class=\"ss314 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:237pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss578\"><div><div class=\"ps7199 ss577\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7200 ss579\"><div><div class=\"ps2564 ss337\"><span class=\"f charStyle-281247bf ps6302\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6779 ss579\"><div><div class=\"ps2564 ss337\"><span class=\"f charStyle-054ead99 ps6302\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps4674 ss579\"><div><div class=\"ps2564 ss337\"><span class=\"f charStyle-054ead99 ps6302\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2567 ss578\"><div><div class=\"ps2564 ss577\"><span class=\"f charStyle-b07b4361 ps42\">Revenue disaggregation<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:30pt\"><td style=\"padding:0\"><div class=\"ps1984 ss578\"><div><div class=\"ps7201 ss577\"><span class=\"f charStyle-1bac868e ps633\">Time charter services and transportation and installation <span class=\"f ps43\"> </span></span></div><div class=\"ps7202 ss577\"><span class=\"f charStyle-1bac868e ps633\">services</span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7203 ss579\"><div><div class=\"ps2564 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:16.17pt\"></span></span><span class=\"ps6343\">490,454</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7204 ss579\"><div><div class=\"ps2564 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:16.17pt\"></span></span><span class=\"ps6343\">226,545</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7205 ss579\"><div><div class=\"ps2564 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6307\">99,841</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"padding:0\"><div class=\"ps656 ss578\"><div><div class=\"ps7201 ss577\"><span class=\"f charStyle-1bac868e ps633\">Other revenue, including fees earned for early <span class=\"f ps43\"> </span></span></div><div class=\"ps7202 ss577\"><span class=\"f charStyle-1bac868e ps633\">termination of contracts by customers</span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7206 ss579\"><div><div class=\"ps2564 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:16.17pt\"></span></span><span class=\"ps6343\">129,900</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7207 ss579\"><div><div class=\"ps2564 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6307\">22,193</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7208 ss579\"><div><div class=\"ps2564 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">8,781</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps3814 ss578\"><div><div class=\"ps2564 ss577\"><span class=\"f charStyle-b07b4361 ps42\">Total revenue<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7209 ss579\"><div><div class=\"ps2564 ss337\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:13.77pt\"></span></span><span class=\"ps6369\">620,354</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7210 ss579\"><div><div class=\"ps2564 ss337\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:13.77pt\"></span></span><span class=\"ps6369\">248,738</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7211 ss579\"><div><div class=\"ps2564 ss337\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:13.77pt\"></span></span><span class=\"ps6369\">108,622</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps3121 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Balance of other revenue primarily includes fees earned for early termination of contracts by customers in </span></div><div class=\"ps3122 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">2025 includes the receipt of termination fees under a Long-Term Agreement (LTA).</span></div><div class=\"ps3093 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">We have determined that our contracts - in general - contain a lease component and, therefore, we </span></div><div class=\"ps3123 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">separately disclose revenues associated with the lease and service components of our contracts. For the </span></div><div class=\"ps3124 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">year ended </span><span class=\"f charStyle-c1b8f9f6 ps7213\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps7214\">, the lease component, included within time charter services and </span></div><div class=\"ps7231 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">transportation and installation services, amounts to</span><span class=\"f charStyle-c1b8f9f6 ps7215\"> </span><span class=\"f charStyle-c1b8f9f6 ps7216\">EUR</span><span class=\"f charStyle-58d8bcbe ps7217\"> </span><span class=\"f charStyle-c1b8f9f6 ps7218\">194</span><span class=\"f charStyle-c1b8f9f6 ps7219\"> million</span><span class=\"f charStyle-c1b8f9f6 ps7220\"> (</span><span class=\"f charStyle-c1b8f9f6 ps7221\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7222\">: </span><span class=\"f charStyle-c1b8f9f6 ps7223\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7224\"> </span><span class=\"f charStyle-c1b8f9f6 ps7225\">85\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7226\">; </span><span class=\"f charStyle-c1b8f9f6 ps7227\">2023</span><span class=\"f charStyle-c1b8f9f6 ps7228\">: </span><span class=\"f charStyle-c1b8f9f6 ps7229\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7230\"> </span></div><div class=\"ps7234 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">79\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7232\">)</span><span class=\"f charStyle-c1b8f9f6 ps7233\">. The lease component is calculated by applying the estimated bareboat charter day-rate to the </span></div><div class=\"ps7235 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">on-hire days.</span></div><div class=\"ps7198 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps7238\">Operating segments and geographical information <span id=\"i37e55903f1144683a1d40d6e321aff09\"></span></span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps7238\">Operating segments </span></div><div class=\"ps7125 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps7238\">The Group\u2019s </span><span class=\"f charStyle-c1b8f9f6 ps7239\">nine</span><span class=\"f charStyle-c1b8f9f6 ps7240\"> windfarm installation vessels (WFIVs) operate in a global market and are often redeployed </span></div><div class=\"ps7241 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps7238\">to different regions due to changing customers or contracts. Accordingly, the Group reports its operations </span></div><div class=\"ps7242 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps7238\">as a single reportable segment.</span></div><div class=\"ps7243 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps7238\">Geographical revenue split<span id=\"ib000f933cc044ae7861cd5b2e8908084\"></span></span></div><div class=\"ps7244 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps7238\">The following table presents financial information by country and region based on the location of the </span></div><div class=\"ps7245 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps7238\">service provided. Individual countries are shown if they are above 10% of revenue.</span></div><div class=\"ps7297 ss0\"><div class=\"ss314 ws0 ps7296\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:194.25pt\"></td><td style=\"padding:0;width:65.25pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:71.25pt\"></td></tr><tr style=\"height:18pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss581\"><div><div class=\"ps7246 ss580\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7247 ss414\"><div><div class=\"ps627 ss242\"><span class=\"f charStyle-281247bf ps5296\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7248 ss582\"><div><div class=\"ps627 ss298\"><span class=\"f charStyle-054ead99 ps3727\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7250 ss584\"><div><div class=\"ps627 ss583\"><span class=\"f charStyle-054ead99 ps7249\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps625 ss581\"><div><div class=\"ps627 ss580\"><span class=\"f charStyle-b07b4361 ps42\">Total revenue by country and region<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:18pt\"><td style=\"padding:0\"><div class=\"ps634 ss581\"><div><div class=\"ps622 ss580\"><span class=\"f charStyle-1bac868e ps42\">Denmark<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7252 ss414\"><div><div class=\"ps627 ss242\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.17pt\"></span></span><span class=\"ps7251\">102,466</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7254 ss582\"><div><div class=\"ps627 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7253\">51,071</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7256 ss584\"><div><div class=\"ps627 ss583\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.87pt\"></span></span><span class=\"ps7255\">5,431</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"padding:0\"><div class=\"ps642 ss581\"><div><div class=\"ps622 ss580\"><span class=\"f charStyle-1bac868e ps42\">UK<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7257 ss414\"><div><div class=\"ps627 ss242\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.17pt\"></span></span><span class=\"ps7251\">131,679</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7258 ss582\"><div><div class=\"ps627 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7253\">68,511</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7260 ss584\"><div><div class=\"ps627 ss583\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.02pt\"></span></span><span class=\"ps7259\">48,880</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"padding:0\"><div class=\"ps650 ss581\"><div><div class=\"ps622 ss580\"><span class=\"f charStyle-1bac868e ps42\">Germany<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7262 ss414\"><div><div class=\"ps627 ss242\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:30.02pt\"></span></span><span class=\"ps7261\">60,439</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7264 ss582\"><div><div class=\"ps627 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7266 ss584\"><div><div class=\"ps627 ss583\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:53.22pt\"></span></span><span class=\"ps7265\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"padding:0\"><div class=\"ps656 ss581\"><div><div class=\"ps622 ss580\"><span class=\"f charStyle-1bac868e ps42\">Poland<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7267 ss414\"><div><div class=\"ps627 ss242\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:30.02pt\"></span></span><span class=\"ps7261\">58,512</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7268 ss582\"><div><div class=\"ps627 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6524 ss584\"><div><div class=\"ps627 ss583\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:53.22pt\"></span></span><span class=\"ps7265\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"padding:0\"><div class=\"ps662 ss581\"><div><div class=\"ps622 ss580\"><span class=\"f charStyle-1bac868e ps42\">Rest of Europe<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7270 ss414\"><div><div class=\"ps627 ss242\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.87pt\"></span></span><span class=\"ps7269\">3,575</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7272 ss582\"><div><div class=\"ps627 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7271\">4,983</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7273 ss584\"><div><div class=\"ps627 ss583\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.02pt\"></span></span><span class=\"ps7259\">54,311</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps60 ss581\"><div><div class=\"ps627 ss580\"><span class=\"f charStyle-b07b4361 ps42\">Europe<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7275 ss414\"><div><div class=\"ps627 ss242\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.77pt\"></span></span><span class=\"ps7274\">356,671</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7277 ss582\"><div><div class=\"ps627 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.52pt\"></span></span><span class=\"ps7276\">124,565</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7278 ss584\"><div><div class=\"ps627 ss583\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.77pt\"></span></span><span class=\"ps3861\">108,622</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7279 ss581\"><div><div class=\"ps622 ss580\"><span class=\"f charStyle-1bac868e ps42\">United States<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7280 ss414\"><div><div class=\"ps627 ss242\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.17pt\"></span></span><span class=\"ps7251\">140,612</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7281 ss582\"><div><div class=\"ps627 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7253\">87,958</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7282 ss584\"><div><div class=\"ps627 ss583\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:53.22pt\"></span></span><span class=\"ps7265\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5160 ss581\"><div><div class=\"ps627 ss580\"><span class=\"f charStyle-b07b4361 ps42\">Americas<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7283 ss414\"><div><div class=\"ps627 ss242\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.77pt\"></span></span><span class=\"ps7274\">140,612</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7285 ss582\"><div><div class=\"ps627 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7284\">87,958</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7286 ss584\"><div><div class=\"ps627 ss583\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:53.22pt\"></span></span><span class=\"ps7265\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4813 ss581\"><div><div class=\"ps622 ss580\"><span class=\"f charStyle-1bac868e ps42\">Taiwan<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7287 ss414\"><div><div class=\"ps627 ss242\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.17pt\"></span></span><span class=\"ps7251\">123,071</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7288 ss582\"><div><div class=\"ps627 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7253\">36,215</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7289 ss584\"><div><div class=\"ps627 ss583\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:53.22pt\"></span></span><span class=\"ps7265\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5702 ss581\"><div><div class=\"ps627 ss580\"><span class=\"f charStyle-b07b4361 ps42\">Asia<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7290 ss414\"><div><div class=\"ps627 ss242\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.77pt\"></span></span><span class=\"ps7274\">123,071</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7291 ss582\"><div><div class=\"ps627 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7284\">36,215</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7292 ss584\"><div><div class=\"ps627 ss583\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:53.22pt\"></span></span><span class=\"ps7265\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps3986 ss581\"><div><div class=\"ps627 ss580\"><span class=\"f charStyle-b07b4361 ps42\">Total Revenue<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7293 ss414\"><div><div class=\"ps627 ss242\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.77pt\"></span></span><span class=\"ps7274\">620,354</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7294 ss582\"><div><div class=\"ps627 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.52pt\"></span></span><span class=\"ps7276\">248,738</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7295 ss584\"><div><div class=\"ps627 ss583\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.77pt\"></span></span><span class=\"ps3861\">108,622</span></span></div></div></div></td></tr></tbody></table></div></div></div></div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 3</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Revenue<span id=\"i9cbff1de09714a0e95f319c77ade26d4\"></span></span></div><div class=\"ps6961 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-cd31f1a5 ps186\">Continued from previous page</span></div><div class=\"ps7299 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Major customers <span id=\"i48dffa16f79849508779122d743989f0\"></span></span></div><div class=\"ps7304 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-e3ca0184 ps186\">For the year ended </span><span class=\"f charStyle-e3ca0184 ps7300\">31\u00a0December 2025</span><span class=\"f charStyle-e3ca0184 ps7301\">, revenue from </span><span class=\"f charStyle-e3ca0184 ps7302\">3</span><span class=\"f charStyle-e3ca0184 ps7303\"> customers each exceeded 10% of total revenue. The </span></div><div class=\"ps7317 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-e3ca0184 ps186\">revenue derived from these three customers was </span><span class=\"f charStyle-e3ca0184 ps7305\">EUR</span><span class=\"f charStyle-e3ca0184 ps7306\"> </span><span class=\"f charStyle-e3ca0184 ps7307\">312\u00a0million</span><span class=\"f charStyle-e3ca0184 ps7308\">, </span><span class=\"f charStyle-e3ca0184 ps7309\">EUR</span><span class=\"f charStyle-e3ca0184 ps7310\"> </span><span class=\"f charStyle-e3ca0184 ps7311\">110\u00a0million</span><span class=\"f charStyle-e3ca0184 ps7312\">, </span><span class=\"f charStyle-e3ca0184 ps7313\">EUR</span><span class=\"f charStyle-e3ca0184 ps7314\"> </span><span class=\"f charStyle-e3ca0184 ps7315\">72\u00a0million</span><span class=\"f charStyle-e3ca0184 ps7316\"> respectively.</span></div><div class=\"ps3371 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">For the year ended </span><span class=\"f charStyle-c1b8f9f6 ps7318\">31\u00a0December 2024</span><span class=\"f charStyle-c1b8f9f6 ps7319\">, revenue from four customers each exceeded 10% of total revenue. </span></div><div class=\"ps6966 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The revenue derived from these four customers w</span><span class=\"f charStyle-c1b8f9f6 ps7320\">as </span><span class=\"f charStyle-c1b8f9f6 ps7321\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7322\"> </span><span class=\"f charStyle-c1b8f9f6 ps7323\">60\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7324\">, </span><span class=\"f charStyle-c1b8f9f6 ps7325\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7326\"> </span><span class=\"f charStyle-c1b8f9f6 ps7327\">58\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7328\">, </span><span class=\"f charStyle-c1b8f9f6 ps7329\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7330\"> </span><span class=\"f charStyle-c1b8f9f6 ps7331\">56\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7332\"> and </span></div><div class=\"ps6967 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">36\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7333\"> respectively. </span></div><div class=\"ps7335 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">For the year ended </span><span class=\"f charStyle-c1b8f9f6 ps7318\">31\u00a0December 2023</span><span class=\"f charStyle-c1b8f9f6 ps7334\">, revenue from three customers each exceeded 10% of total revenue. </span></div><div class=\"ps6971 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The revenue derived from these three customers was </span><span class=\"f charStyle-c1b8f9f6 ps7336\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7337\"> </span><span class=\"f charStyle-c1b8f9f6 ps7338\">44.5\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7339\">, </span><span class=\"f charStyle-c1b8f9f6 ps7340\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7341\"> </span><span class=\"f charStyle-c1b8f9f6 ps7342\">28.5</span><span class=\"f charStyle-c1b8f9f6 ps7343\"> and </span><span class=\"f charStyle-c1b8f9f6 ps7344\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps4982\"> </span><span class=\"f charStyle-c1b8f9f6 ps7345\">22.7\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7346\"> </span></div><div class=\"ps7347 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">respectively. </span></div><div class=\"ps7348 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Non-current assets by geography<span id=\"i79f53dff1130499b973d1d1b9cafd113\"></span></span></div><div class=\"ps7349 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Company\u2019s non-current assets (excluding derivatives) are based on domicile of the legal entity </span></div><div class=\"ps5057 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">ownership in the following countries/regions:</span></div><div class=\"ps7398 ss0\"><div class=\"ss314 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:237pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td></tr><tr style=\"height:12.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss585\"><div><div class=\"ps7350 ss577\"><span class=\"f charStyle-4979afbe ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7200 ss477\"><div><div class=\"ps4671 ss337\"><span class=\"f charStyle-281247bf ps6302\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6779 ss477\"><div><div class=\"ps4671 ss337\"><span class=\"f charStyle-281247bf ps6302\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps4674 ss477\"><div><div class=\"ps4671 ss337\"><span class=\"f charStyle-281247bf ps6302\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:26.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4675 ss586\"><div><div class=\"ps3886 ss577\"><span class=\"f charStyle-b07b4361 ps42\">Non-current assets (excluding derivatives) by country <span class=\"f ps43\"> </span></span></div><div class=\"ps3888 ss577\"><span class=\"f charStyle-b07b4361 ps42\">and region</span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps5184 ss587\"><div><div class=\"ps744 ss577\"><span class=\"f charStyle-1bac868e ps633\">Denmark (country of domicile)<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7351 ss475\"><div><div class=\"ps744 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.11pt\"></span></span><span class=\"ps4456\">395,881<span style=\"display:inline-block;height:6.55pt;width:2.71pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7353 ss475\"><div><div class=\"ps744 ss337\"><span class=\"f charStyle-1bac868e\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:20.83pt\"></span></span><span class=\"ps7352\">491,463<span style=\"display:inline-block;height:6.55pt;width:2.62pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7354 ss475\"><div><div class=\"ps744 ss337\"><span class=\"f charStyle-1bac868e\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.85pt\"></span></span><span class=\"ps521\">430,878<span style=\"display:inline-block;height:6.55pt;width:2.62pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps5236 ss587\"><div><div class=\"ps744 ss577\"><span class=\"f charStyle-1bac868e ps633\">UK<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7356 ss475\"><div><div class=\"ps744 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:12.31pt\"></span></span><span class=\"ps7355\">1,158,396<span style=\"display:inline-block;height:6.55pt;width:2.71pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7357 ss475\"><div><div class=\"ps744 ss337\"><span class=\"f charStyle-1bac868e\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.85pt\"></span></span><span class=\"ps521\">499,070<span style=\"display:inline-block;height:6.55pt;width:2.62pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7359 ss475\"><div><div class=\"ps744 ss337\"><span class=\"f charStyle-1bac868e\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.65pt\"></span></span><span class=\"ps7358\">369,594<span style=\"display:inline-block;height:6.55pt;width:2.62pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps3738 ss587\"><div><div class=\"ps744 ss577\"><span class=\"f charStyle-1bac868e ps633\">Cyprus<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7360 ss475\"><div><div class=\"ps744 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:12.31pt\"></span></span><span class=\"ps7355\">1,346,002<span style=\"display:inline-block;height:6.55pt;width:2.71pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7362 ss475\"><div><div class=\"ps744 ss337\"><span class=\"f charStyle-1bac868e\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.22pt\"></span></span><span class=\"ps7361\">663,174<span style=\"display:inline-block;height:6.55pt;width:2.62pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7364 ss475\"><div><div class=\"ps744 ss337\"><span class=\"f charStyle-1bac868e\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.61pt\"></span></span><span class=\"ps7363\">217,788<span style=\"display:inline-block;height:6.55pt;width:2.62pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps3925 ss587\"><div><div class=\"ps744 ss577\"><span class=\"f charStyle-1bac868e ps633\">Rest of Europe<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7366 ss475\"><div><div class=\"ps744 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.61pt\"></span></span><span class=\"ps7365\">679<span style=\"display:inline-block;height:6.55pt;width:2.71pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7368 ss475\"><div><div class=\"ps744 ss337\"><span class=\"f charStyle-1bac868e\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.25pt\"></span></span><span class=\"ps7367\">\u2014<span style=\"display:inline-block;height:6.55pt;width:2.62pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7369 ss475\"><div><div class=\"ps744 ss337\"><span class=\"f charStyle-1bac868e\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.25pt\"></span></span><span class=\"ps7367\">\u2014<span style=\"display:inline-block;height:6.55pt;width:2.62pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7370 ss587\"><div><div class=\"ps744 ss577\"><span class=\"f charStyle-b07b4361 ps42\">Total Europe<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7371 ss475\"><div><div class=\"ps744 ss337\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:6.17pt\"></span></span><span class=\"ps445\">2,900,958</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7372 ss475\"><div><div class=\"ps744 ss337\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:6.17pt\"></span></span><span class=\"ps445\">1,653,707</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7373 ss475\"><div><div class=\"ps744 ss337\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:6.17pt\"></span></span><span class=\"ps445\">1,018,260</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7374 ss587\"><div><div class=\"ps744 ss577\"><span class=\"f charStyle-1bac868e ps633\">Japan<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7376 ss475\"><div><div class=\"ps744 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:23.96pt\"></span></span><span class=\"ps7375\">81,780<span style=\"display:inline-block;height:6.55pt;width:2.71pt\"></span></span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7378 ss475\"><div><div class=\"ps744 ss337\"><span class=\"f charStyle-1bac868e\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.58pt\"></span></span><span class=\"ps7377\">88,083<span style=\"display:inline-block;height:6.55pt;width:2.62pt\"></span></span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7380 ss475\"><div><div class=\"ps744 ss337\"><span class=\"f charStyle-1bac868e\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.2pt\"></span></span><span class=\"ps7379\">86,484<span style=\"display:inline-block;height:6.55pt;width:2.62pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps7381 ss587\"><div><div class=\"ps744 ss577\"><span class=\"f charStyle-1bac868e ps633\">Taiwan<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7382 ss475\"><div><div class=\"ps744 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.61pt\"></span></span><span class=\"ps7365\">740<span style=\"display:inline-block;height:6.55pt;width:2.71pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7384 ss475\"><div><div class=\"ps744 ss337\"><span class=\"f charStyle-1bac868e\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:45.51pt\"></span></span><span class=\"ps7383\">2<span style=\"display:inline-block;height:6.55pt;width:2.62pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7386 ss475\"><div><div class=\"ps744 ss337\"><span class=\"f charStyle-1bac868e\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.77pt\"></span></span><span class=\"ps7385\">26<span style=\"display:inline-block;height:6.55pt;width:2.62pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps675 ss587\"><div><div class=\"ps744 ss577\"><span class=\"f charStyle-b07b4361 ps42\">Total Asia<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7388 ss475\"><div><div class=\"ps744 ss337\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7387\">82,520</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7389 ss475\"><div><div class=\"ps744 ss337\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7387\">88,085</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7390 ss475\"><div><div class=\"ps744 ss337\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7387\">86,510</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps2273 ss587\"><div><div class=\"ps744 ss577\"><span class=\"f charStyle-b07b4361 ps42\">United States<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7391 ss475\"><div><div class=\"ps744 ss337\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6333\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7393 ss475\"><div><div class=\"ps744 ss337\"><span class=\"f charStyle-1bac868e\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.95pt\"></span></span><span class=\"ps7392\">14<span style=\"display:inline-block;height:6.55pt;width:2.62pt\"></span></span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7394 ss587\"><div><div class=\"ps744 ss577\"><span class=\"f charStyle-b07b4361 ps42\">Total <span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7395 ss475\"><div><div class=\"ps744 ss337\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:6.17pt\"></span></span><span class=\"ps445\">2,983,478</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7396 ss475\"><div><div class=\"ps744 ss337\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:6.17pt\"></span></span><span class=\"ps445\">1,741,806</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7397 ss475\"><div><div class=\"ps744 ss337\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:6.17pt\"></span></span><span class=\"ps445\">1,104,770</span></span></div></div></div></td></tr></tbody></table></div></div></div><div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 3</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Revenue<span id=\"i94873e6f05134a7f836148fbff23e4b1\"></span></span></div><div class=\"ps6961 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-cd31f1a5 ps186\">Continued from previous page</span></div><div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Contract backlog <span id=\"i683eec5fab1e4facae7b411eeaa069ab\"></span></span></div><div class=\"ps372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group's order backlog including options as of </span><span class=\"f charStyle-c1b8f9f6 ps952\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps7399\"> </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">amounts to </span><span class=\"f charStyle-c1b8f9f6 ps7400\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7401\"> </span><span class=\"f charStyle-c1b8f9f6 ps7402\">2.8\u00a0billion</span><span class=\"f charStyle-c1b8f9f6 ps7403\"> (</span><span class=\"f charStyle-c1b8f9f6 ps7404\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7405\">: </span><span class=\"f charStyle-c1b8f9f6 ps7406\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7407\"> </span><span class=\"f charStyle-c1b8f9f6 ps7408\">2.3\u00a0billion</span><span class=\"f charStyle-c1b8f9f6 ps7409\">; </span><span class=\"f charStyle-c1b8f9f6 ps7410\">2023</span><span class=\"f charStyle-c1b8f9f6 ps7411\">: </span><span class=\"f charStyle-c1b8f9f6 ps7412\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7413\"> </span></div><div class=\"ps400 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">1.7\u00a0billion</span><span class=\"f charStyle-c1b8f9f6 ps7414\">). </span><span class=\"f charStyle-c1b8f9f6 ps7415\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7416\"> </span><span class=\"f charStyle-c1b8f9f6 ps7417\">846</span><span class=\"f charStyle-c1b8f9f6 ps7418\"> million</span><span class=\"f charStyle-c1b8f9f6 ps7419\"> of the backlog pertains to contracts that </span></div><div class=\"ps7422 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">management expects to recognise in </span><span class=\"f charStyle-c1b8f9f6 ps7420\">2026</span><span class=\"f charStyle-c1b8f9f6 ps7421\">.</span></div><div class=\"ps376 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group's order backlog excluding options as of </span><span class=\"f charStyle-c1b8f9f6 ps7423\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps7424\"> </span></div><div class=\"ps377 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">amounts to </span><span class=\"f charStyle-c1b8f9f6 ps7400\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7401\"> </span><span class=\"f charStyle-c1b8f9f6 ps7402\">2.4\u00a0billion</span><span class=\"f charStyle-c1b8f9f6 ps7425\"> (</span><span class=\"f charStyle-c1b8f9f6 ps7426\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7427\">: </span><span class=\"f charStyle-c1b8f9f6 ps7428\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7429\"> </span><span class=\"f charStyle-c1b8f9f6 ps7430\">1.9\u00a0billion</span><span class=\"f charStyle-c1b8f9f6 ps7431\">; </span><span class=\"f charStyle-c1b8f9f6 ps7432\">2023</span><span class=\"f charStyle-c1b8f9f6 ps7433\">: </span><span class=\"f charStyle-c1b8f9f6 ps7434\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7435\"> </span></div><div class=\"ps378 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">1.4\u00a0billion</span><span class=\"f charStyle-c1b8f9f6 ps7436\">).</span><span class=\"f charStyle-c1b8f9f6 ps7437\"> </span></div><div class=\"ps7438 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Contract backlog for firm orders (as of reporting date)</span></div><div class=\"ps7439 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The following table presents the aggregate amount of the revenues </span></div><div class=\"ps7440 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">expected to be realized in the future from partially or fully unsatisfied </span></div><div class=\"ps7441 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">performance obligations as we perform under the contracts. We </span></div><div class=\"ps7442 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">disclose both the value of firm contracts and a contract backlog </span></div><div class=\"ps7443 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">including options (non-GAAP measure). The values includes all new </span></div><div class=\"ps385 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">contracts signed at the reporting date: </span></div><div class=\"ps7498 ss0\"><div class=\"ss599 ws0 ps7497\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:348pt\"></td><td style=\"padding:0;width:69.75pt\"></td><td style=\"padding:0;width:69.75pt\"></td><td style=\"padding:0;width:69.75pt\"></td></tr><tr style=\"height:24.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss589\"><div><div class=\"ps7445 ss588\"><span class=\"f charStyle-4979afbe ps42\">EUR million<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7447 ss420\"><div><div class=\"ps2693 ss49\"><span class=\"f charStyle-281247bf ps7446\">Within 1 year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6037 ss420\"><div><div class=\"ps2693 ss49\"><span class=\"f charStyle-281247bf ps4349\">After 1 year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7449 ss420\"><div><div class=\"ps2693 ss49\"><span class=\"f charStyle-281247bf ps7448\">Total<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps1978 ss590\"><div><div class=\"ps438 ss588\"><span class=\"f charStyle-b07b4361 ps42\">Contract Backlog<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps1980 ss591\"><div><div class=\"ps744 ss588\"><span class=\"f charStyle-1bac868e ps633\">Firm, excluding options<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7451 ss592\"><div><div class=\"ps744 ss49\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.17pt\"></span></span><span class=\"ps7450\">764</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7453 ss592\"><div><div class=\"ps744 ss49\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.37pt\"></span></span><span class=\"ps7452\">1,627</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7454 ss592\"><div><div class=\"ps744 ss49\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.37pt\"></span></span><span class=\"ps7452\">2,391</span></span></div></div></div></td></tr><tr style=\"height:27pt\"><td style=\"padding:0\"><div class=\"ps5507 ss593\"><div><div class=\"ps7455 ss588\"><span class=\"f charStyle-1bac868e ps633\">Options considered as contingent considerations for revenue recognition purposes<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7457 ss594\"><div><div class=\"ps7455 ss49\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.02pt\"></span></span><span class=\"ps7456\">41</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps5515 ss594\"><div><div class=\"ps7455 ss49\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.17pt\"></span></span><span class=\"ps7450\">146</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7458 ss594\"><div><div class=\"ps7455 ss49\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.17pt\"></span></span><span class=\"ps7450\">187</span></span></div></div></div></td></tr><tr style=\"height:29.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6278 ss595\"><div><div class=\"ps7459 ss588\"><span class=\"f charStyle-1bac868e ps633\">Options not considered as contingent considerations for revenue recognition <span class=\"f ps43\"> </span></span></div><div class=\"ps7460 ss588\"><span class=\"f charStyle-1bac868e ps633\">purposes</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7461 ss596\"><div><div class=\"ps6886 ss49\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.02pt\"></span></span><span class=\"ps7456\">41</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7462 ss596\"><div><div class=\"ps6886 ss49\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.17pt\"></span></span><span class=\"ps7450\">146</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7463 ss596\"><div><div class=\"ps6886 ss49\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.17pt\"></span></span><span class=\"ps7450\">187</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5151 ss591\"><div><div class=\"ps744 ss588\"><span class=\"f charStyle-23b55a92 ps42\">Total as of 31 December 2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7465 ss592\"><div><div class=\"ps744 ss49\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:45.21pt\"></span></span><span class=\"ps7464\">846</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7467 ss592\"><div><div class=\"ps744 ss49\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.61pt\"></span></span><span class=\"ps7466\">1,919</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7468 ss592\"><div><div class=\"ps744 ss49\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.61pt\"></span></span><span class=\"ps7466\">2,765</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2201 ss591\"><div><div class=\"ps744 ss588\"><span class=\"f charStyle-1bac868e ps633\">Firm, excluding options<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7469 ss592\"><div><div class=\"ps744 ss49\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.17pt\"></span></span><span class=\"ps7450\">372</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7470 ss592\"><div><div class=\"ps744 ss49\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.37pt\"></span></span><span class=\"ps7452\">1,534</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7471 ss592\"><div><div class=\"ps744 ss49\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.37pt\"></span></span><span class=\"ps7452\">1,906</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps1043 ss589\"><div><div class=\"ps2693 ss588\"><span class=\"f charStyle-1bac868e ps633\">Options considered as contingent considerations for revenue recognition purposes<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7472 ss420\"><div><div class=\"ps2693 ss49\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.02pt\"></span></span><span class=\"ps7456\">28</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7473 ss420\"><div><div class=\"ps2693 ss49\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.17pt\"></span></span><span class=\"ps7450\">187</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7474 ss420\"><div><div class=\"ps2693 ss49\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.17pt\"></span></span><span class=\"ps7450\">215</span></span></div></div></div></td></tr><tr style=\"height:27pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps66 ss593\"><div><div class=\"ps7475 ss588\"><span class=\"f charStyle-1bac868e ps633\">Options not considered as contingent considerations for revenue recognition <span class=\"f ps43\"> </span></span></div><div class=\"ps7476 ss588\"><span class=\"f charStyle-1bac868e ps633\">purposes</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7477 ss594\"><div><div class=\"ps7455 ss49\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.02pt\"></span></span><span class=\"ps7456\">28</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7478 ss594\"><div><div class=\"ps7455 ss49\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.17pt\"></span></span><span class=\"ps7450\">187</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7479 ss594\"><div><div class=\"ps7455 ss49\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.17pt\"></span></span><span class=\"ps7450\">215</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps3977 ss591\"><div><div class=\"ps744 ss588\"><span class=\"f charStyle-23b55a92 ps42\">Total as of 31 December 2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7480 ss592\"><div><div class=\"ps744 ss49\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:45.21pt\"></span></span><span class=\"ps7464\">428</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7481 ss592\"><div><div class=\"ps744 ss49\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.61pt\"></span></span><span class=\"ps7466\">1,908</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7482 ss592\"><div><div class=\"ps744 ss49\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.61pt\"></span></span><span class=\"ps7466\">2,336</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps3986 ss591\"><div><div class=\"ps744 ss588\"><span class=\"f charStyle-1bac868e ps633\">Firm, excluding options<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7483 ss592\"><div><div class=\"ps744 ss49\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.17pt\"></span></span><span class=\"ps7450\">176</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7484 ss592\"><div><div class=\"ps744 ss49\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.37pt\"></span></span><span class=\"ps7452\">1,201</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7485 ss592\"><div><div class=\"ps744 ss49\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.37pt\"></span></span><span class=\"ps7452\">1,377</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"padding:0\"><div class=\"ps3768 ss597\"><div><div class=\"ps2564 ss588\"><span class=\"f charStyle-1bac868e ps633\">Options considered as contingent considerations for revenue recognition purposes<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7486 ss598\"><div><div class=\"ps2564 ss49\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.02pt\"></span></span><span class=\"ps7456\">16</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7487 ss598\"><div><div class=\"ps2564 ss49\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.17pt\"></span></span><span class=\"ps7450\">163</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7488 ss598\"><div><div class=\"ps2564 ss49\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.17pt\"></span></span><span class=\"ps7450\">179</span></span></div></div></div></td></tr><tr style=\"height:27pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7489 ss593\"><div><div class=\"ps7475 ss588\"><span class=\"f charStyle-1bac868e ps633\">Options not considered as contingent considerations for revenue recognition <span class=\"f ps43\"> </span></span></div><div class=\"ps7476 ss588\"><span class=\"f charStyle-1bac868e ps633\">purposes</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7490 ss594\"><div><div class=\"ps7455 ss49\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.02pt\"></span></span><span class=\"ps7456\">16</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7491 ss594\"><div><div class=\"ps7455 ss49\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.17pt\"></span></span><span class=\"ps7450\">163</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7492 ss594\"><div><div class=\"ps7455 ss49\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.17pt\"></span></span><span class=\"ps7450\">179</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7493 ss591\"><div><div class=\"ps744 ss588\"><span class=\"f charStyle-23b55a92 ps42\">Total as of 31 December 2023<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7494 ss592\"><div><div class=\"ps744 ss49\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:45.21pt\"></span></span><span class=\"ps7464\">208</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7495 ss592\"><div><div class=\"ps744 ss49\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.61pt\"></span></span><span class=\"ps7466\">1,527</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7496 ss592\"><div><div class=\"ps744 ss49\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.61pt\"></span></span><span class=\"ps7466\">1,735</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7500 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps7499\">Total contract backlog represents estimated transaction price for unfulfilled performance obligations, including both fixed and variable </span></div><div class=\"ps7501 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps7499\">consideration. Options that are considered for revenue recognition purposes and options not considered for revenue recognition purpose, </span></div><div class=\"ps7505 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps7499\">represent </span><span class=\"f charStyle-c1b8f9f6 ps7502\">50%</span><span class=\"f charStyle-c1b8f9f6 ps7503\"> </span><span class=\"f charStyle-c1b8f9f6 ps7504\">each of the variable portion of the backlog. Contract backlog excludes vessel reservation agreements. All contracts may be </span></div><div class=\"ps7506 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps7499\">subject to future modifications, and off-hire days, that might impact the amount and/or timing of revenue recognition. </span></div></div><div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 3</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Revenue<span id=\"i9ec2534994d34dcf8fb0d2e082dba537\"></span></span></div><div class=\"ps6961 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-cd31f1a5 ps186\">Continued from previous page</span></div><div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Contract costs, assets and deferred revenue <span id=\"i4db003fb666746b985ec6a17ea6ce276\"></span></span></div><div class=\"ps372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Customers are typically invoiced monthly, when the vessels are on contract, with normal payment terms </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">between 30</span><span class=\"f charStyle-c1b8f9f6 ps7508\">-60</span><span class=\"f charStyle-c1b8f9f6 ps7509\"> days.</span><span class=\"f charStyle-c1b8f9f6 ps7510\"> Payment terms with customers are considered industry standard and do not include a </span></div><div class=\"ps400 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">significant financing component. To the extent possible, we obtain payment guarantees to minimise the </span></div><div class=\"ps7422 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">credit risk during the contract term.</span></div><div class=\"ps376 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">S</span><span class=\"f charStyle-c1b8f9f6 ps7511\">ometimes revenue is recognised for work performed prior to issuance of invoice to customer and it will be </span></div><div class=\"ps377 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">reported as a contract asset. For more information about contract assets at the reporting period, refer to </span></div><div class=\"ps378 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 16. When the right to consideration is conditional only on the passage of time, the balance does not </span></div><div class=\"ps379 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">meet the definition of a contract asset and is classified as an u</span><span class=\"f charStyle-c1b8f9f6 ps7512\">nbilled receivable</span><span class=\"f charStyle-c1b8f9f6 ps7513\">. This typically arises where </span></div><div class=\"ps401 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the timing of the related billing cycle occurs in a period after the performance obligation is satisfied.</span></div><div class=\"ps381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Deferred revenue relates to consideration received from customers for unsatisfied performance obligations. </span></div><div class=\"ps382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Revenue will be recognised when the related services are provided to the customers, which is almost </span></div><div class=\"ps383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">entirely within </span><span class=\"f charStyle-c1b8f9f6 ps7514\">12 months</span><span class=\"f charStyle-c1b8f9f6 ps7515\">.</span></div><div class=\"ps7443 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Incremental costs of obtaining a contract and certain costs to fulfil a contract to be recognised as a </span></div><div class=\"ps385 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">contract asset if certain criteria are met. Any capitalised contract assets</span><span class=\"f charStyle-c1b8f9f6 ps7516\"> are amortised on a systematic basis </span></div><div class=\"ps386 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">that is consistent with the transfer of the related goods or services to the customer.</span></div><div class=\"ps7547 ss0\"><div class=\"ss602 ws0 ps7296\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:239.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss601\"><div><div class=\"ps7445 ss600\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7518 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-281247bf ps6302\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6848 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-054ead99 ps6302\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2058 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-054ead99 ps6302\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps1978 ss601\"><div><div class=\"ps2693 ss600\"><span class=\"f charStyle-b07b4361 ps42\">Beginning of financial year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7519 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6307\">47,337</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7520 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6307\">13,881</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7521 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">3,157</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps7522 ss601\"><div><div class=\"ps2693 ss600\"><span class=\"f charStyle-1bac868e ps633\">Acquisition of businesses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7523 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6333\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7524 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6333\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7525 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">1,913</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps7526 ss601\"><div><div class=\"ps2693 ss600\"><span class=\"f charStyle-1bac868e ps633\">Deferred during the period<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7527 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:16.17pt\"></span></span><span class=\"ps6343\">158,739</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7528 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6307\">45,360</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7529 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6307\">10,670</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps2297 ss601\"><div><div class=\"ps2693 ss600\"><span class=\"f charStyle-1bac868e ps633\">Recognised as revenue during the period<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7531 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:15.6pt\"></span></span><span class=\"ps7530\">(46,459)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7532 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:15.6pt\"></span></span><span class=\"ps7530\">(11,928)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7534 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:20.45pt\"></span></span><span class=\"ps7533\">(1,859)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps495 ss601\"><div><div class=\"ps2693 ss600\"><span class=\"f charStyle-1bac868e ps633\">Exchange differences<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7535 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6333\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7536 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.52pt\"></span></span><span class=\"ps6363\">24</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7537 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6333\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps1043 ss601\"><div><div class=\"ps2693 ss600\"><span class=\"f charStyle-b07b4361 ps42\">Total deferred revenue at end of period<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7538 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:13.77pt\"></span></span><span class=\"ps6369\">159,617</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7539 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7387\">47,337</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7540 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7387\">13,881</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps66 ss601\"><div><div class=\"ps2693 ss600\"><span class=\"f charStyle-b07b4361 ps42\">Current<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7541 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:13.77pt\"></span></span><span class=\"ps6369\">128,716</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps6889 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7387\">45,590</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7542 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7387\">12,103</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5702 ss601\"><div><div class=\"ps2693 ss600\"><span class=\"f charStyle-b07b4361 ps42\">Non-current<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7543 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7387\">30,901</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7545 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.11pt\"></span></span><span class=\"ps7544\">1,747</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7546 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.11pt\"></span></span><span class=\"ps7544\">1,778</span></span></div></div></div></td></tr></tbody></table></div></div></div></div><div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies for revenue from contracts with <span id=\"i17b5a42201704d018ec5535d4cbb9e0b\"></span></span></div><div class=\"ps7555 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">customers</span></div><div class=\"ps7556 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">We initially assess whether the contracts contain a lease component. </span></div><div class=\"ps7557 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In general, we have determined that our contracts consist of a leasing </span></div><div class=\"ps7558 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">component (the element relating to hire of the vessel) and a service </span></div><div class=\"ps7559 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">component. These components are not treated or priced separately </span></div><div class=\"ps7560 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">in the contracts, nor does the Group offer either of the services </span></div><div class=\"ps7035 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">separately. The service component is within the scope of IFRS 15, </span></div><div class=\"ps7036 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">while the leasing component is within the scope of IFRS 16. The lease </span></div><div class=\"ps7037 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">components are classified as an operating lease, as such leases do </span></div><div class=\"ps7069 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">not cover a significant part of the economic life of the vessels and the </span></div><div class=\"ps7070 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Group retains substantially all risks and rewards incidental to </span></div><div class=\"ps300 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">ownership of the vessels. The leasing component is recognised as </span></div><div class=\"ps301 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">revenue over time over the charter period. Prepayments from </span></div><div class=\"ps302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">customers for the leasing component are recognised as deferred </span></div><div class=\"ps303 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">revenue.</span></div><div class=\"ps7011 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Once the service component has been determined to be within the </span></div><div class=\"ps305 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">scope of IFRS 15, the Group performs the following five steps on a </span></div><div class=\"ps306 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">contract-by-contract basis: (i) identify the contract(s) with a customer; </span></div><div class=\"ps307 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(ii) identify the performance obligations in the contract; (iii) determine </span></div><div class=\"ps7561 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the transaction price; (iv) allocate the transaction price to the </span></div><div class=\"ps7562 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">performance obligations in the contract; and (v) recognise revenue </span></div><div class=\"ps7563 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">when (or as) the Group satisfies a performance obligation.</span></div><div class=\"ps7014 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Our contracts with customers are complex and normally contains </span></div><div class=\"ps2561 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">multiple types of promises to the customer. At contract inception, </span></div><div class=\"ps7015 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">judgement is performed when determining if a contract contains one </span></div><div class=\"ps3222 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">or more performance obligations. The Group assesses the goods and </span></div><div class=\"ps7016 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">services promised within each contract and identifies as a </span></div><div class=\"ps7018 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">performance obligation each good or service that is distinct. </span></div><div class=\"ps7019 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">Revenue from transportation and installation activities may, </span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">depending on the contract, represent one or more performance </span></div><div class=\"ps7146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">obligations. In respect of T&amp;I service components, the following main </span></div><div class=\"ps7149 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">promises apply: Planning and engineering, Transport of monopiles </span></div><div class=\"ps7564 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">and secondary steel from supply port to feeder port, Installation of </span></div><div class=\"ps7565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">monopiles and secondary steel offshore, Storage and handling at </span></div><div class=\"ps6922 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">feeder port, and Warranty. While the contracts contain several </span></div><div class=\"ps6923 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">distinct promises, these are considered less interdependent and </span></div><div class=\"ps6926 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">interrelated and as such are considered multiple performance </span></div><div class=\"ps2785 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">obligations.</span></div><div class=\"ps7152 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">Revenue is generally recognised over time as the service is being </span></div><div class=\"ps7158 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">provided using a method, depending on what better depicts the </span></div><div class=\"ps7159 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">progress of each separate performance obligation, as detailed below:</span></div><div class=\"ps7585 ss0\"><div class=\"ss609 ws0 ps7584\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:114pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:83.25pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #6d6d6d;padding:0\"><div class=\"ps40 ss431\"><div><div class=\"ps7567 ss430\"><span class=\"f charStyle-b77d0160 ps42\">Performance obligations in T&amp;I <span class=\"f ps43\"> </span></span></div><div class=\"ps7568 ss430\"><span class=\"f charStyle-b77d0160 ps42\">contracts</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #6d6d6d;padding:0\"><div class=\"ps7569 ss603\"><div><div class=\"ps7567 ss339\"><span class=\"f charStyle-b77d0160 ps42\">Recognition of <span class=\"f ps43\"> </span></span></div><div class=\"ps7568 ss339\"><span class=\"f charStyle-b77d0160 ps42\">revenue</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #6d6d6d;padding:0\"><div class=\"ps7571 ss605\"><div><div class=\"ps7570 ss604\"><span class=\"f charStyle-b77d0160 ps42\">Measure of progress<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"background-color:#ffffff;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps442 ss606\"><div><div class=\"ps7572 ss430\"><span class=\"f charStyle-cc5e4236 ps42\">Planning and engineering services to the <span class=\"f ps43\"> </span></span></div><div class=\"ps7573 ss430\"><span class=\"f charStyle-cc5e4236 ps42\">customer.</span></div></div></div></td><td style=\"background-color:#ffffff;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7574 ss607\"><div><div class=\"ps7199 ss339\"><span class=\"f charStyle-cc5e4236 ps42\">Over time<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7577 ss608\"><div><div class=\"ps7575 ss604\"><span class=\"f charStyle-cc5e4236 ps42\">Total costs incurred to date <span class=\"f ps43\"> </span></span></div><div class=\"ps7199 ss604\"><span class=\"f charStyle-cc5e4236 ps42\">compared with total forecast </span></div><div class=\"ps7576 ss604\"><span class=\"f charStyle-cc5e4236 ps42\">costs at completion</span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps3733 ss606\"><div><div class=\"ps7575 ss430\"><span class=\"f charStyle-cc5e4236 ps42\">Transportation of monopiles and <span class=\"f ps43\"> </span></span></div><div class=\"ps7199 ss430\"><span class=\"f charStyle-cc5e4236 ps42\">secondary steel from supply port to </span></div><div class=\"ps7576 ss430\"><span class=\"f charStyle-cc5e4236 ps42\">feeder port</span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7578 ss607\"><div><div class=\"ps7199 ss339\"><span class=\"f charStyle-cc5e4236 ps42\">Over time<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7579 ss608\"><div><div class=\"ps7572 ss604\"><span class=\"f charStyle-cc5e4236 ps42\">Total time spend compared <span class=\"f ps43\"> </span></span></div><div class=\"ps7573 ss604\"><span class=\"f charStyle-cc5e4236 ps42\">with total forecast time</span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps1807 ss606\"><div><div class=\"ps7572 ss430\"><span class=\"f charStyle-cc5e4236 ps42\">Storage and handling of the material used <span class=\"f ps43\"> </span></span></div><div class=\"ps7573 ss430\"><span class=\"f charStyle-cc5e4236 ps42\">in the installation</span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps7580 ss607\"><div><div class=\"ps7199 ss339\"><span class=\"f charStyle-cc5e4236 ps42\">Over time<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps7581 ss608\"><div><div class=\"ps7572 ss604\"><span class=\"f charStyle-cc5e4236 ps42\">Total time spend compared <span class=\"f ps43\"> </span></span></div><div class=\"ps7573 ss604\"><span class=\"f charStyle-cc5e4236 ps42\">with total forecast time</span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps58 ss606\"><div><div class=\"ps7572 ss430\"><span class=\"f charStyle-cc5e4236 ps42\">Installation of monopiles and secondary <span class=\"f ps43\"> </span></span></div><div class=\"ps7573 ss430\"><span class=\"f charStyle-cc5e4236 ps42\">steel offshore</span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7582 ss607\"><div><div class=\"ps7199 ss339\"><span class=\"f charStyle-cc5e4236 ps42\">Over time<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7583 ss608\"><div><div class=\"ps7572 ss604\"><span class=\"f charStyle-cc5e4236 ps42\">Total time spend compared <span class=\"f ps43\"> </span></span></div><div class=\"ps7573 ss604\"><span class=\"f charStyle-cc5e4236 ps42\">with total forecast time</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7586 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">While time-charter contracts contain several promises, these are </span></div><div class=\"ps7587 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">usually considered highly interdependent and highly interrelated and </span></div><div class=\"ps7588 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">as such considered as one single performance obligation recognised </span></div><div class=\"ps7589 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">over time applying a relevant measured of progress, usually output </span></div><div class=\"ps7590 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">method based on time.</span></div><div class=\"ps7019 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">The Group is sometimes providing bunker procurement services to </span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">help customers ensure that sufficient bunker is available to operate </span></div><div class=\"ps7146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">the vessels at the right time and in the right quality and quantity. </span></div><div class=\"ps7149 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Management\u2019s assessment of whether a principal or agent </span></div><div class=\"ps7564 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">relationship exists is based upon whether the Group has the ability to </span></div><div class=\"ps7565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">control the goods before they are transferred to the customer. This </span></div><div class=\"ps6922 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">assessment is performed on a contract-by-contract basis at contract </span></div><div class=\"ps6923 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">inception and takes into account various factors such as whether the </span></div><div class=\"ps6926 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Group takes legal title of the bunker and has the ability to direct the </span></div><div class=\"ps2785 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">use of the bunker. The fees earned are recognized as revenue over </span></div><div class=\"ps2786 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">the service period.</span></div><div class=\"ps7158 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Revenue is recognised when control of the services is transferred to </span></div><div class=\"ps7159 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">the customer at an amount that reflects the consideration to which </span></div><div class=\"ps7160 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">the Group expects to be entitled in exchange for those services. </span></div><div class=\"ps7162 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Revenue is recognised in the amount of the transaction price that is </span></div><div class=\"ps2791 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">allocated to the respective performance obligations when (or as) the </span></div><div class=\"ps2792 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">performance obligation is satisfied. </span></div><div class=\"ps7155 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Variable consideration, for example in respect of weather days and </span></div><div class=\"ps7156 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">extension of time, steel price or bunker price etc, is constrained at </span></div><div class=\"ps7157 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">contract inception to the extent that it is highly probable that a </span></div><div class=\"ps6930 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">significant reversal in the amount of cumulative revenue recognised </span></div><div class=\"ps7591 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">will not occur when the uncertainty associated with the variable </span></div><div class=\"ps7592 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">consideration is subsequently resolved.</span></div><div class=\"ps7593 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">The Group provides warranties for repair of defects which are </span></div><div class=\"ps7594 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">identified during the contract and within a defined period thereafter. </span></div><div class=\"ps7595 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">In general, all are assurance-type warranties, as defined within IFRS </span></div><div class=\"ps7598 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">15, which the Group recognises under I</span><span class=\"f charStyle-c1b8f9f6 ps7596\">AS 37.</span><span class=\"f charStyle-c1b8f9f6 ps7597\"> Compensation </span></div><div class=\"ps7599 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">received, or receivable, for early termination are recognised as </span></div><div class=\"ps7600 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">revenue with deferral of an estimated value of any obligations to </span></div><div class=\"ps7601 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">standing ready for new engagements in the remaining contract </span></div><div class=\"ps7602 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">period.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfRevenueExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-515": {
   "value": "The Group is a leading supplier to the offshore wind industry, specialising in T&amp;I and O&amp;M services rendered to customers in Europe, Asia, and the United States.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-516": {
   "value": "<div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps7238\">Operating segments </span></div><div class=\"ps7125 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps7238\">The Group\u2019s </span><span class=\"f charStyle-c1b8f9f6 ps7239\">nine</span><span class=\"f charStyle-c1b8f9f6 ps7240\"> windfarm installation vessels (WFIVs) operate in a global market and are often redeployed </span></div><div class=\"ps7241 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps7238\">to different regions due to changing customers or contracts. Accordingly, the Group reports its operations </span></div><div class=\"ps7242 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps7238\">as a single reportable segment.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-517": {
   "value": "<div class=\"ps7299 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Major customers <span id=\"i48dffa16f79849508779122d743989f0\"></span></span></div><div class=\"ps7304 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-e3ca0184 ps186\">For the year ended </span><span class=\"f charStyle-e3ca0184 ps7300\">31\u00a0December 2025</span><span class=\"f charStyle-e3ca0184 ps7301\">, revenue from </span><span class=\"f charStyle-e3ca0184 ps7302\">3</span><span class=\"f charStyle-e3ca0184 ps7303\"> customers each exceeded 10% of total revenue. The </span></div><div class=\"ps7317 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-e3ca0184 ps186\">revenue derived from these three customers was </span><span class=\"f charStyle-e3ca0184 ps7305\">EUR</span><span class=\"f charStyle-e3ca0184 ps7306\"> </span><span class=\"f charStyle-e3ca0184 ps7307\">312\u00a0million</span><span class=\"f charStyle-e3ca0184 ps7308\">, </span><span class=\"f charStyle-e3ca0184 ps7309\">EUR</span><span class=\"f charStyle-e3ca0184 ps7310\"> </span><span class=\"f charStyle-e3ca0184 ps7311\">110\u00a0million</span><span class=\"f charStyle-e3ca0184 ps7312\">, </span><span class=\"f charStyle-e3ca0184 ps7313\">EUR</span><span class=\"f charStyle-e3ca0184 ps7314\"> </span><span class=\"f charStyle-e3ca0184 ps7315\">72\u00a0million</span><span class=\"f charStyle-e3ca0184 ps7316\"> respectively.</span></div><div class=\"ps3371 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">For the year ended </span><span class=\"f charStyle-c1b8f9f6 ps7318\">31\u00a0December 2024</span><span class=\"f charStyle-c1b8f9f6 ps7319\">, revenue from four customers each exceeded 10% of total revenue. </span></div><div class=\"ps6966 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The revenue derived from these four customers w</span><span class=\"f charStyle-c1b8f9f6 ps7320\">as </span><span class=\"f charStyle-c1b8f9f6 ps7321\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7322\"> </span><span class=\"f charStyle-c1b8f9f6 ps7323\">60\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7324\">, </span><span class=\"f charStyle-c1b8f9f6 ps7325\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7326\"> </span><span class=\"f charStyle-c1b8f9f6 ps7327\">58\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7328\">, </span><span class=\"f charStyle-c1b8f9f6 ps7329\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7330\"> </span><span class=\"f charStyle-c1b8f9f6 ps7331\">56\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7332\"> and </span></div><div class=\"ps6967 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">36\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7333\"> respectively. </span></div><div class=\"ps7335 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">For the year ended </span><span class=\"f charStyle-c1b8f9f6 ps7318\">31\u00a0December 2023</span><span class=\"f charStyle-c1b8f9f6 ps7334\">, revenue from three customers each exceeded 10% of total revenue. </span></div><div class=\"ps6971 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The revenue derived from these three customers was </span><span class=\"f charStyle-c1b8f9f6 ps7336\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7337\"> </span><span class=\"f charStyle-c1b8f9f6 ps7338\">44.5\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7339\">, </span><span class=\"f charStyle-c1b8f9f6 ps7340\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7341\"> </span><span class=\"f charStyle-c1b8f9f6 ps7342\">28.5</span><span class=\"f charStyle-c1b8f9f6 ps7343\"> and </span><span class=\"f charStyle-c1b8f9f6 ps7344\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps4982\"> </span><span class=\"f charStyle-c1b8f9f6 ps7345\">22.7\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7346\"> </span></div>respectively.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-518": {
   "value": "<div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies for revenue from contracts with <span id=\"i17b5a42201704d018ec5535d4cbb9e0b\"></span></span></div><div class=\"ps7555 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">customers</span></div><div class=\"ps7556 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">We initially assess whether the contracts contain a lease component. </span></div><div class=\"ps7557 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In general, we have determined that our contracts consist of a leasing </span></div><div class=\"ps7558 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">component (the element relating to hire of the vessel) and a service </span></div><div class=\"ps7559 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">component. These components are not treated or priced separately </span></div><div class=\"ps7560 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">in the contracts, nor does the Group offer either of the services </span></div><div class=\"ps7035 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">separately. The service component is within the scope of IFRS 15, </span></div><div class=\"ps7036 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">while the leasing component is within the scope of IFRS 16. The lease </span></div><div class=\"ps7037 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">components are classified as an operating lease, as such leases do </span></div><div class=\"ps7069 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">not cover a significant part of the economic life of the vessels and the </span></div><div class=\"ps7070 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Group retains substantially all risks and rewards incidental to </span></div><div class=\"ps300 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">ownership of the vessels. The leasing component is recognised as </span></div><div class=\"ps301 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">revenue over time over the charter period. Prepayments from </span></div><div class=\"ps302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">customers for the leasing component are recognised as deferred </span></div><div class=\"ps303 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">revenue.</span></div><div class=\"ps7011 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Once the service component has been determined to be within the </span></div><div class=\"ps305 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">scope of IFRS 15, the Group performs the following five steps on a </span></div><div class=\"ps306 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">contract-by-contract basis: (i) identify the contract(s) with a customer; </span></div><div class=\"ps307 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(ii) identify the performance obligations in the contract; (iii) determine </span></div><div class=\"ps7561 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the transaction price; (iv) allocate the transaction price to the </span></div><div class=\"ps7562 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">performance obligations in the contract; and (v) recognise revenue </span></div><div class=\"ps7563 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">when (or as) the Group satisfies a performance obligation.</span></div><div class=\"ps7014 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Our contracts with customers are complex and normally contains </span></div><div class=\"ps2561 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">multiple types of promises to the customer. At contract inception, </span></div><div class=\"ps7015 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">judgement is performed when determining if a contract contains one </span></div><div class=\"ps3222 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">or more performance obligations. The Group assesses the goods and </span></div><div class=\"ps7016 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">services promised within each contract and identifies as a </span></div><div class=\"ps7018 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">performance obligation each good or service that is distinct. </span></div><div class=\"ps7019 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">Revenue from transportation and installation activities may, </span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">depending on the contract, represent one or more performance </span></div><div class=\"ps7146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">obligations. In respect of T&amp;I service components, the following main </span></div><div class=\"ps7149 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">promises apply: Planning and engineering, Transport of monopiles </span></div><div class=\"ps7564 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">and secondary steel from supply port to feeder port, Installation of </span></div><div class=\"ps7565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">monopiles and secondary steel offshore, Storage and handling at </span></div><div class=\"ps6922 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">feeder port, and Warranty. While the contracts contain several </span></div><div class=\"ps6923 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">distinct promises, these are considered less interdependent and </span></div><div class=\"ps6926 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">interrelated and as such are considered multiple performance </span></div><div class=\"ps2785 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">obligations.</span></div><div class=\"ps7152 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">Revenue is generally recognised over time as the service is being </span></div><div class=\"ps7158 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">provided using a method, depending on what better depicts the </span></div><div class=\"ps7159 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">progress of each separate performance obligation, as detailed below:</span></div><div class=\"ps7585 ss0\"><div class=\"ss609 ws0 ps7584\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:114pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:83.25pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #6d6d6d;padding:0\"><div class=\"ps40 ss431\"><div><div class=\"ps7567 ss430\"><span class=\"f charStyle-b77d0160 ps42\">Performance obligations in T&amp;I <span class=\"f ps43\"> </span></span></div><div class=\"ps7568 ss430\"><span class=\"f charStyle-b77d0160 ps42\">contracts</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #6d6d6d;padding:0\"><div class=\"ps7569 ss603\"><div><div class=\"ps7567 ss339\"><span class=\"f charStyle-b77d0160 ps42\">Recognition of <span class=\"f ps43\"> </span></span></div><div class=\"ps7568 ss339\"><span class=\"f charStyle-b77d0160 ps42\">revenue</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #6d6d6d;padding:0\"><div class=\"ps7571 ss605\"><div><div class=\"ps7570 ss604\"><span class=\"f charStyle-b77d0160 ps42\">Measure of progress<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"background-color:#ffffff;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps442 ss606\"><div><div class=\"ps7572 ss430\"><span class=\"f charStyle-cc5e4236 ps42\">Planning and engineering services to the <span class=\"f ps43\"> </span></span></div><div class=\"ps7573 ss430\"><span class=\"f charStyle-cc5e4236 ps42\">customer.</span></div></div></div></td><td style=\"background-color:#ffffff;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7574 ss607\"><div><div class=\"ps7199 ss339\"><span class=\"f charStyle-cc5e4236 ps42\">Over time<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7577 ss608\"><div><div class=\"ps7575 ss604\"><span class=\"f charStyle-cc5e4236 ps42\">Total costs incurred to date <span class=\"f ps43\"> </span></span></div><div class=\"ps7199 ss604\"><span class=\"f charStyle-cc5e4236 ps42\">compared with total forecast </span></div><div class=\"ps7576 ss604\"><span class=\"f charStyle-cc5e4236 ps42\">costs at completion</span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps3733 ss606\"><div><div class=\"ps7575 ss430\"><span class=\"f charStyle-cc5e4236 ps42\">Transportation of monopiles and <span class=\"f ps43\"> </span></span></div><div class=\"ps7199 ss430\"><span class=\"f charStyle-cc5e4236 ps42\">secondary steel from supply port to </span></div><div class=\"ps7576 ss430\"><span class=\"f charStyle-cc5e4236 ps42\">feeder port</span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7578 ss607\"><div><div class=\"ps7199 ss339\"><span class=\"f charStyle-cc5e4236 ps42\">Over time<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7579 ss608\"><div><div class=\"ps7572 ss604\"><span class=\"f charStyle-cc5e4236 ps42\">Total time spend compared <span class=\"f ps43\"> </span></span></div><div class=\"ps7573 ss604\"><span class=\"f charStyle-cc5e4236 ps42\">with total forecast time</span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps1807 ss606\"><div><div class=\"ps7572 ss430\"><span class=\"f charStyle-cc5e4236 ps42\">Storage and handling of the material used <span class=\"f ps43\"> </span></span></div><div class=\"ps7573 ss430\"><span class=\"f charStyle-cc5e4236 ps42\">in the installation</span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps7580 ss607\"><div><div class=\"ps7199 ss339\"><span class=\"f charStyle-cc5e4236 ps42\">Over time<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps7581 ss608\"><div><div class=\"ps7572 ss604\"><span class=\"f charStyle-cc5e4236 ps42\">Total time spend compared <span class=\"f ps43\"> </span></span></div><div class=\"ps7573 ss604\"><span class=\"f charStyle-cc5e4236 ps42\">with total forecast time</span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps58 ss606\"><div><div class=\"ps7572 ss430\"><span class=\"f charStyle-cc5e4236 ps42\">Installation of monopiles and secondary <span class=\"f ps43\"> </span></span></div><div class=\"ps7573 ss430\"><span class=\"f charStyle-cc5e4236 ps42\">steel offshore</span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7582 ss607\"><div><div class=\"ps7199 ss339\"><span class=\"f charStyle-cc5e4236 ps42\">Over time<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7583 ss608\"><div><div class=\"ps7572 ss604\"><span class=\"f charStyle-cc5e4236 ps42\">Total time spend compared <span class=\"f ps43\"> </span></span></div><div class=\"ps7573 ss604\"><span class=\"f charStyle-cc5e4236 ps42\">with total forecast time</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7586 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">While time-charter contracts contain several promises, these are </span></div><div class=\"ps7587 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">usually considered highly interdependent and highly interrelated and </span></div><div class=\"ps7588 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">as such considered as one single performance obligation recognised </span></div><div class=\"ps7589 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">over time applying a relevant measured of progress, usually output </span></div><div class=\"ps7590 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">method based on time.</span></div><div class=\"ps7019 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">The Group is sometimes providing bunker procurement services to </span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">help customers ensure that sufficient bunker is available to operate </span></div><div class=\"ps7146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">the vessels at the right time and in the right quality and quantity. </span></div><div class=\"ps7149 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Management\u2019s assessment of whether a principal or agent </span></div><div class=\"ps7564 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">relationship exists is based upon whether the Group has the ability to </span></div><div class=\"ps7565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">control the goods before they are transferred to the customer. This </span></div><div class=\"ps6922 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">assessment is performed on a contract-by-contract basis at contract </span></div><div class=\"ps6923 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">inception and takes into account various factors such as whether the </span></div><div class=\"ps6926 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Group takes legal title of the bunker and has the ability to direct the </span></div><div class=\"ps2785 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">use of the bunker. The fees earned are recognized as revenue over </span></div><div class=\"ps2786 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">the service period.</span></div><div class=\"ps7158 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Revenue is recognised when control of the services is transferred to </span></div><div class=\"ps7159 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">the customer at an amount that reflects the consideration to which </span></div><div class=\"ps7160 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">the Group expects to be entitled in exchange for those services. </span></div><div class=\"ps7162 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Revenue is recognised in the amount of the transaction price that is </span></div><div class=\"ps2791 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">allocated to the respective performance obligations when (or as) the </span></div><div class=\"ps2792 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">performance obligation is satisfied. </span></div><div class=\"ps7155 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Variable consideration, for example in respect of weather days and </span></div><div class=\"ps7156 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">extension of time, steel price or bunker price etc, is constrained at </span></div><div class=\"ps7157 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">contract inception to the extent that it is highly probable that a </span></div><div class=\"ps6930 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">significant reversal in the amount of cumulative revenue recognised </span></div><div class=\"ps7591 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">will not occur when the uncertainty associated with the variable </span></div><div class=\"ps7592 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">consideration is subsequently resolved.</span></div><div class=\"ps7593 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">The Group provides warranties for repair of defects which are </span></div><div class=\"ps7594 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">identified during the contract and within a defined period thereafter. </span></div><div class=\"ps7595 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">In general, all are assurance-type warranties, as defined within IFRS </span></div><div class=\"ps7598 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">15, which the Group recognises under I</span><span class=\"f charStyle-c1b8f9f6 ps7596\">AS 37.</span><span class=\"f charStyle-c1b8f9f6 ps7597\"> Compensation </span></div><div class=\"ps7599 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">received, or receivable, for early termination are recognised as </span></div><div class=\"ps7600 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">revenue with deferral of an estimated value of any obligations to </span></div><div class=\"ps7601 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">standing ready for new engagements in the remaining contract </span></div><div class=\"ps7602 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">period.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-519": {
   "value": "<div><div id=\"i60a9312555114c61b3ebee7078e135c5_465\" style=\"position:absolute;top:42.52pt\"></div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 4</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Operating Expenses<span id=\"i0e38814d230d425aa19c43cb8e0bc1ea\"></span></span></div><div class=\"ps7670 ss0\"><div class=\"ss615 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:200.25pt\"></td><td style=\"padding:0;width:53.25pt\"></td><td style=\"padding:0;width:53.25pt\"></td><td style=\"padding:0;width:53.25pt\"></td><td style=\"padding:0;width:53.25pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss610\"><div><div class=\"ps7604 ss318\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7606 ss611\"><div><div class=\"ps4431 ss225\"><span class=\"f charStyle-054ead99 ps7605\">Note<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7608 ss611\"><div><div class=\"ps4431 ss225\"><span class=\"f charStyle-281247bf ps7607\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7609 ss611\"><div><div class=\"ps4431 ss225\"><span class=\"f charStyle-054ead99 ps7607\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7610 ss611\"><div><div class=\"ps4431 ss225\"><span class=\"f charStyle-054ead99 ps7607\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:26.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps442 ss612\"><div><div class=\"ps3884 ss318\"><span class=\"f charStyle-b07b4361 ps42\">Cost of sales<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps2060 ss613\"><div><div class=\"ps751 ss318\"><span class=\"f charStyle-1bac868e ps633\">Right-of-use asset depreciation<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7611 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44 ps5189\">14<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7613 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.22pt\"></span></span><span class=\"ps7612\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7615 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.67pt\"></span></span><span class=\"ps7614\">235</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7617 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.52pt\"></span></span><span class=\"ps7616\">30</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps2129 ss613\"><div><div class=\"ps751 ss318\"><span class=\"f charStyle-1bac868e ps633\">Insurance<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7619 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">6,268</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7620 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">2,754</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7621 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">1,573</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps656 ss613\"><div><div class=\"ps751 ss318\"><span class=\"f charStyle-1bac868e ps633\">Vessel depreciation<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7622 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44 ps5189\">13<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7624 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:13.17pt\"></span></span><span class=\"ps7623\">104,042</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7626 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7625\">53,696</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7627 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7625\">22,484</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps6714 ss613\"><div><div class=\"ps751 ss318\"><span class=\"f charStyle-1bac868e ps633\">Impairment of property, plant and equipment<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7628 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44 ps5189\">13<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7629 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.22pt\"></span></span><span class=\"ps7612\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7630 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.22pt\"></span></span><span class=\"ps7612\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7631 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">5,000</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps7381 ss613\"><div><div class=\"ps751 ss318\"><span class=\"f charStyle-1bac868e ps633\">Seafarer payroll<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7632 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44 ps5204\">6<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7633 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7625\">50,088</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7634 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7625\">32,285</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7635 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7625\">15,921</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps1826 ss613\"><div><div class=\"ps751 ss318\"><span class=\"f charStyle-1bac868e ps633\">Fuel and oil<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7636 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">7,928</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7637 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">2,976</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7638 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.67pt\"></span></span><span class=\"ps7614\">711</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps7639 ss613\"><div><div class=\"ps751 ss318\"><span class=\"f charStyle-1bac868e ps633\">Maintenance<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7640 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7625\">17,878</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7641 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">7,886</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7642 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">5,121</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps4620 ss613\"><div><div class=\"ps751 ss318\"><span class=\"f charStyle-1bac868e ps633\">Messing costs<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7643 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">5,270</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7644 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">2,948</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7645 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">1,448</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps6432 ss613\"><div><div class=\"ps751 ss318\"><span class=\"f charStyle-1bac868e ps633\">Seafarer travel<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7646 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7625\">11,634</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7647 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">7,110</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7648 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">2,835</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps7649 ss613\"><div><div class=\"ps751 ss318\"><span class=\"f charStyle-1bac868e ps633\">Specific charter costs<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7650 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7625\">30,512</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7651 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7625\">10,776</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7652 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">4,052</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps7653 ss613\"><div><div class=\"ps751 ss318\"><span class=\"f charStyle-1bac868e ps633\">Utilities<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7654 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">1,720</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7655 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">1,308</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7656 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.67pt\"></span></span><span class=\"ps7614\">389</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps5334 ss613\"><div><div class=\"ps751 ss318\"><span class=\"f charStyle-1bac868e ps633\">Other operating expenses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7657 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">1,334</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7658 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">2,254</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7659 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.67pt\"></span></span><span class=\"ps7614\">294</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps7660 ss613\"><div><div class=\"ps751 ss318\"><span class=\"f charStyle-1bac868e ps633\">Tonnage tax<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7661 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.52pt\"></span></span><span class=\"ps7616\">81</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7662 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.22pt\"></span></span><span class=\"ps7612\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7663 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.22pt\"></span></span><span class=\"ps7612\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7664 ss613\"><div><div class=\"ps751 ss318\"><span class=\"f charStyle-b07b4361 ps42\">Total cost of sales<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7666 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:10.77pt\"></span></span><span class=\"ps7665\">236,755</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7667 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:10.77pt\"></span></span><span class=\"ps7665\">124,228</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7669 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:15.94pt\"></span></span><span class=\"ps7668\">59,858</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7670 ss0\"><div class=\"ss119 ws0 ps2915\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:189pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss617\"><div><div class=\"ps750 ss616\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7672 ss475\"><div><div class=\"ps44 ss337\"><span class=\"f charStyle-054ead99 ps6301\">Note<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6193 ss475\"><div><div class=\"ps44 ss337\"><span class=\"f charStyle-281247bf ps6302\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7673 ss475\"><div><div class=\"ps44 ss337\"><span class=\"f charStyle-054ead99 ps6302\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6040 ss475\"><div><div class=\"ps44 ss337\"><span class=\"f charStyle-054ead99 ps6302\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps46 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-b07b4361 ps42\">Administrative expenses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps634 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-1bac868e ps633\">Depreciation and amortisation<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7678 ss619\"><div><div class=\"ps7675 ss337\"><span class=\"f charStyle-e5ec5c44 ps7674\">\u00a012\u00a0,\u00a013\u00a0,\u00a014<span class=\"f ps43\"> </span></span></div><div class=\"ps7677 ss337\"><span class=\"f charStyle-e5ec5c44 ps7676\">\u00a0</span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7679 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">3,549</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7680 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">2,522</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7681 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6318\">534</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5266 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-1bac868e ps633\">Employee compensation<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7683 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44 ps7682\">6<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7684 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6307\">46,282</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7685 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6307\">33,132</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7686 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6307\">18,889</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps2072 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-1bac868e ps633\">Repair and maintenance expenses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7687 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">3,449</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7688 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">3,020</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7689 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">1,123</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps770 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-1bac868e ps633\">Legal and professional fees<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7690 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">9,087</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7691 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">7,576</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7692 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">2,122</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5151 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-1bac868e ps633\">Transaction costs<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7693 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6333\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7694 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6333\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7695 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">7,707</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps7696 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-1bac868e ps633\">Rental expenses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7697 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">2,484</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7698 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">1,757</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7699 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6318\">751</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps64 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-1bac868e ps633\">Travel expense<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps6417 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">2,393</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7700 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">1,988</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7701 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6318\">985</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps7702 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-1bac868e ps633\">Marketing and entertainment expenses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7703 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6318\">968</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7704 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">1,283</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7705 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6318\">602</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5702 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-1bac868e ps633\">Other expenses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7706 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">6,414</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7707 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">5,823</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7708 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">1,745</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5998 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-b07b4361 ps42\">Total administrative expenses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7709 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7387\">74,626</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7710 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7387\">57,101</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7711 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7387\">34,458</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps2438 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">Transaction costs in 2023 include all costs related to the business combination with Eneti, such as advisory, </span></div><div class=\"ps2439 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">legal and consulting fees, which are included in administrative expenses.</span></div></div><div class=\"ps6993 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies<span id=\"i5bd065fe8d5945acb03e5c28945340b2\"></span></span></div><div class=\"ps269 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps186\">Cost of sales and administrative expenses</span></div><div class=\"ps1547 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Cost of sales consists of expenses directly attributable to the Group\u2019s core activities, including seafarers </span></div><div class=\"ps1548 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">payroll, vessel depreciation, and the operation and maintenance of vessels.</span></div><div class=\"ps3839 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Administrative expenses, which include administrative staff costs, share-based compensation, management </span></div><div class=\"ps1780 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">costs, office expenses, business combination transaction costs and other administration-related expenses, </span></div><div class=\"ps1781 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">are expensed as they are incurred.</span></div><div class=\"ps7713 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Auditor remuneration<span id=\"id9103bba1cc74d4e8758313f65aa3bfe\"></span></span></div><div class=\"ps7245 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Administrative expenses include fees to the auditors appointed by the shareholder at the Annual General </span></div><div class=\"ps7714 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Meeting:</span></div><div class=\"ps7730 ss0\"><div class=\"ss119 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:245.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss96\"><div><div class=\"ps7604 ss95\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6193 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-281247bf ps6302\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7673 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-054ead99 ps6302\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6040 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-054ead99 ps6302\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps442 ss96\"><div><div class=\"ps438 ss95\"><span class=\"f charStyle-1bac868e ps633\">Statutory audit<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7715 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">1,748</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7716 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">2,016</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7717 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6318\">474</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps463 ss96\"><div><div class=\"ps438 ss95\"><span class=\"f charStyle-1bac868e ps633\">Other assurance services<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7718 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.52pt\"></span></span><span class=\"ps6363\">34</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7719 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6318\">264</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7720 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">1,608</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5507 ss96\"><div><div class=\"ps438 ss95\"><span class=\"f charStyle-1bac868e ps633\">Tax services<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7721 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.52pt\"></span></span><span class=\"ps6363\">25</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7723 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.37pt\"></span></span><span class=\"ps7722\">9</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7724 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.37pt\"></span></span><span class=\"ps7722\">2</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5516 ss96\"><div><div class=\"ps438 ss95\"><span class=\"f charStyle-1bac868e ps633\">Other services<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6221 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6333\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7725 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.52pt\"></span></span><span class=\"ps6363\">22</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7726 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6318\">606</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5521 ss96\"><div><div class=\"ps438 ss95\"><span class=\"f charStyle-b07b4361 ps42\">Total<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7727 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.11pt\"></span></span><span class=\"ps7544\">1,807</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7728 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.11pt\"></span></span><span class=\"ps7544\">2,311</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7729 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.11pt\"></span></span><span class=\"ps7544\">2,690</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps2384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Statutory audit services consist of fees for professional services rendered by </span><span class=\"f charStyle-c1b8f9f6 ps7731\">Ernst &amp; Young</span><span class=\"f charStyle-c1b8f9f6 ps7732\"> for the audit of </span></div><div class=\"ps2385 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the annual consolidated financial statements and services that are provided by the auditor in connection </span></div><div class=\"ps2386 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">with the statutory audit. </span></div><div class=\"ps7737 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">For </span><span class=\"f charStyle-c1b8f9f6 ps7733\">2025</span><span class=\"f charStyle-c1b8f9f6 ps7734\"> and </span><span class=\"f charStyle-c1b8f9f6 ps7735\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7736\">, the fee includes services related to the issuance of audit report on the design and </span></div><div class=\"ps7128 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">operating effectiveness of the Company's internal controls over financial reporting (SOX404(b)).</span></div><div class=\"ps7738 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">Other assurance services consist of reviews of interim financial information and, for 2023, include PCAOB </span></div><div class=\"ps7739 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">re-audits for 2021 and 2022, as well as assurance reports in respect of pro forma financial information in </span></div><div class=\"ps3205 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">connection with regulatory filings. </span></div><div class=\"ps6998 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">Tax services consist of tax compliance services. </span></div><div class=\"ps7740 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">Other services consist of services provided for other permitted services, including fees for work performed </span></div><div class=\"ps7741 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">in connection with the US listing in December 2023.</span></div><div><div id=\"i60a9312555114c61b3ebee7078e135c5_488\" style=\"position:absolute;top:42.52pt\"></div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 6</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Employee Compensation<span id=\"i8d8ad33b79984ae59384330ee8f2651b\"></span></span></div><div class=\"ps7781 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Onshore - presented within administrative expenses<span id=\"ie7fc78a689484c6b8e5f52ffcbd5013b\"></span></span></div><div class=\"ps7809 ss0\"><div class=\"ss615 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:194.25pt\"></td><td style=\"padding:0;width:54.75pt\"></td><td style=\"padding:0;width:54.75pt\"></td><td style=\"padding:0;width:54.75pt\"></td><td style=\"padding:0;width:54.75pt\"></td></tr><tr style=\"height:12.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss621\"><div><div class=\"ps6268 ss580\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7247 ss470\"><div><div class=\"ps5116 ss454\"><span class=\"f charStyle-054ead99 ps7782\">Note<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7783 ss470\"><div><div class=\"ps5116 ss454\"><span class=\"f charStyle-281247bf ps4635\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7784 ss470\"><div><div class=\"ps5116 ss454\"><span class=\"f charStyle-054ead99 ps4635\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6305 ss470\"><div><div class=\"ps5116 ss454\"><span class=\"f charStyle-054ead99 ps4635\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4675 ss622\"><div><div class=\"ps2564 ss580\"><span class=\"f charStyle-1bac868e ps633\">Wages and Salaries<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7786 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.52pt\"></span></span><span class=\"ps7785\">37,322</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5127 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.52pt\"></span></span><span class=\"ps7785\">29,340</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7787 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.52pt\"></span></span><span class=\"ps7785\">16,957</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"padding:0\"><div class=\"ps6208 ss622\"><div><div class=\"ps7201 ss580\"><span class=\"f charStyle-1bac868e ps633\">Employer's contribution to defined <span class=\"f ps43\"> </span></span></div><div class=\"ps7202 ss580\"><span class=\"f charStyle-1bac868e ps633\">contribution plans</span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7789 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.37pt\"></span></span><span class=\"ps7788\">3,765</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7790 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.37pt\"></span></span><span class=\"ps7788\">1,635</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6319 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7791\">847</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"padding:0\"><div class=\"ps7792 ss622\"><div><div class=\"ps2564 ss580\"><span class=\"f charStyle-1bac868e ps633\">Share based payment expense<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7794 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-e5ec5c44 ps7793\">7<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7795 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.37pt\"></span></span><span class=\"ps7788\">2,071</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7796 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.37pt\"></span></span><span class=\"ps7788\">1,662</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7797 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.37pt\"></span></span><span class=\"ps7788\">1,134</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7798 ss622\"><div><div class=\"ps2564 ss580\"><span class=\"f charStyle-1bac868e ps633\">Other short-term benefits<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7799 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.37pt\"></span></span><span class=\"ps7788\">3,124</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7800 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7791\">495</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7801 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7791\">611</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2201 ss622\"><div><div class=\"ps2564 ss580\"><span class=\"f charStyle-b07b4361 ps42\">Total onshore employee compensation<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7803 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:17.44pt\"></span></span><span class=\"ps7802\">46,282</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7804 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:17.44pt\"></span></span><span class=\"ps7802\">33,132</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7805 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:17.44pt\"></span></span><span class=\"ps7802\">19,549</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps6295 ss622\"><div><div class=\"ps2564 ss580\"><span class=\"f charStyle-1bac868e ps633\">Average number of employees<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7806 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7791\">307</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7807 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7791\">242</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7808 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7791\">113</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7814 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In 31 December 2023, employee compensation includes </span><span class=\"f charStyle-c1b8f9f6 ps7810\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7811\"> </span><span class=\"f charStyle-c1b8f9f6 ps7812\">660\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7813\"> related to bonus paid, included </span></div><div class=\"ps7818 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">in transaction costs. For further information refer to </span><span class=\"f charStyle-c1b8f9f6 ps7815\">Note 4</span><span class=\"f charStyle-c1b8f9f6 ps7816\">, Administrative Expenses.</span><span class=\"f charStyle-c1b8f9f6 ps7817\"> </span></div><div class=\"ps7819 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Accounting policies</span></div><div class=\"ps7820 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Employee benefits are recognised as an expense, unless the cost qualifies for capitalisation as an asset.</span></div><div class=\"ps5274 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Employee compensation includes wages and salaries, including compensated absence and pensions, as </span></div><div class=\"ps5275 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">well as other social security contributions made to the entity\u2019s employees or public and government </span></div><div class=\"ps5276 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">authoriti</span><span class=\"f charStyle-c1b8f9f6 ps7821\">es. </span></div><div class=\"ps7781 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps2468\">Offshore - presented within cost of sales<span id=\"id2cb925291854c169160ab294622a4c8\"></span></span></div><div class=\"ps7809 ss0\"><div class=\"ss119 ws0 ps2915\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:228pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:50.25pt\"></td><td style=\"padding:0;width:50.25pt\"></td><td style=\"padding:0;width:50.25pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss428\"><div><div class=\"ps7604 ss427\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7823 ss624\"><div><div class=\"ps4431 ss450\"><span class=\"f charStyle-054ead99 ps7822\">Note<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7824 ss57\"><div><div class=\"ps4431 ss51\"><span class=\"f charStyle-281247bf ps6781\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7825 ss57\"><div><div class=\"ps4431 ss51\"><span class=\"f charStyle-054ead99 ps6781\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7826 ss57\"><div><div class=\"ps4431 ss51\"><span class=\"f charStyle-054ead99 ps6781\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps442 ss428\"><div><div class=\"ps438 ss427\"><span class=\"f charStyle-1bac868e ps633\">Wages and Salaries<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7828 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:15.02pt\"></span></span><span class=\"ps7827\">46,008</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7829 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:15.02pt\"></span></span><span class=\"ps7827\">30,043</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7830 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:15.02pt\"></span></span><span class=\"ps7827\">14,056</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps463 ss428\"><div><div class=\"ps438 ss427\"><span class=\"f charStyle-1bac868e ps633\">Employer's contribution to defined contribution plans<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7832 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7831\">3,557</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7833 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7831\">2,059</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7834 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7831\">1,124</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5507 ss428\"><div><div class=\"ps438 ss427\"><span class=\"f charStyle-1bac868e ps633\">Other short-term benefits<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7836 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7835\">523</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7837 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7835\">183</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7838 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7835\">741</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5516 ss428\"><div><div class=\"ps438 ss427\"><span class=\"f charStyle-b07b4361 ps42\">Total offshore employee compensation<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7840 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:12.94pt\"></span></span><span class=\"ps7839\">50,088</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7841 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:12.94pt\"></span></span><span class=\"ps7839\">32,285</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7842 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:12.94pt\"></span></span><span class=\"ps7839\">15,921</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5521 ss428\"><div><div class=\"ps438 ss427\"><span class=\"f charStyle-1bac868e ps633\">Average number of employees<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7843 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7835\">586</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7844 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7835\">364</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7845 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7835\">182</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7846 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps2468\">Total<span id=\"i99e227df99624d4e8e1fce758cf46cb6\"></span></span></div><div class=\"ps7870 ss0\"><div class=\"ss119 ws0 ps2915\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:228pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:50.25pt\"></td><td style=\"padding:0;width:50.25pt\"></td><td style=\"padding:0;width:50.25pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss625\"><div><div class=\"ps750 ss427\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7823 ss466\"><div><div class=\"ps44 ss450\"><span class=\"f charStyle-054ead99 ps7822\">Note<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7824 ss626\"><div><div class=\"ps44 ss51\"><span class=\"f charStyle-281247bf ps6781\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7825 ss626\"><div><div class=\"ps44 ss51\"><span class=\"f charStyle-054ead99 ps6781\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7826 ss626\"><div><div class=\"ps44 ss51\"><span class=\"f charStyle-054ead99 ps6781\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps46 ss428\"><div><div class=\"ps438 ss427\"><span class=\"f charStyle-1bac868e ps633\">Wages and Salaries<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7847 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:15.02pt\"></span></span><span class=\"ps7827\">83,330</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7848 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:15.02pt\"></span></span><span class=\"ps7827\">59,383</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7849 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:15.02pt\"></span></span><span class=\"ps7827\">31,013</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps634 ss428\"><div><div class=\"ps438 ss427\"><span class=\"f charStyle-1bac868e ps633\">Employer's contribution to defined contribution plans<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7850 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7831\">7,322</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7851 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7831\">3,694</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7852 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7831\">1,971</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5266 ss428\"><div><div class=\"ps438 ss427\"><span class=\"f charStyle-1bac868e ps633\">Share based payment expense<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7854 ss624\"><div><div class=\"ps438 ss450\"><span class=\"f charStyle-e5ec5c44 ps7853\">7<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7855 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7831\">2,071</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7856 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7831\">1,662</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7857 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7831\">1,134</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2072 ss428\"><div><div class=\"ps438 ss427\"><span class=\"f charStyle-1bac868e ps633\">Other short-term benefits<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7858 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7831\">3,647</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7859 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7835\">678</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7860 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7831\">1,352</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps770 ss428\"><div><div class=\"ps438 ss427\"><span class=\"f charStyle-b07b4361 ps42\">Total employee compensation<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7861 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:12.94pt\"></span></span><span class=\"ps7839\">96,370</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7862 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:12.94pt\"></span></span><span class=\"ps7839\">65,417</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7863 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:12.94pt\"></span></span><span class=\"ps7839\">35,470</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5151 ss428\"><div><div class=\"ps438 ss427\"><span class=\"f charStyle-1bac868e ps633\">Average number of full time employees<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7864 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7835\">893</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7865 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7835\">606</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7866 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7835\">295</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps7696 ss627\"><div><div class=\"ps2693 ss427\"><span class=\"f charStyle-cb69ec08 ps633\">Number of employees at the end of the reporting period<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7867 ss628\"><div><div class=\"ps2693 ss51\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7831\">1,073</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7868 ss628\"><div><div class=\"ps2693 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7835\">659</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7869 ss628\"><div><div class=\"ps2693 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7835\">570</span></span></div></div></div></td></tr></tbody></table></div></div></div></div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 6</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Employee Compensation<span id=\"i28cf84a2a2b6426d92bcb1049f9af430\"></span></span></div><div class=\"ps6961 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-cd31f1a5 ps186\">Continued from previous page</span></div><div class=\"ps7019 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Eneti employees, both onshore and offshore, joined the Group by the end of December 2023. Thus, the </span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">average number of full-time employees as of 2023 reflects the number of employees in Eneti divided by 12 </span></div><div class=\"ps7146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">months. Eneti had </span><span class=\"f charStyle-c1b8f9f6 ps7873\">99</span><span class=\"f charStyle-c1b8f9f6 ps7874\"> onshore full time employees and </span><span class=\"f charStyle-c1b8f9f6 ps7875\">176</span><span class=\"f charStyle-c1b8f9f6 ps7876\"> seafarers by the end of 2023.</span></div><div class=\"ps422 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Labour costs related to certain employees who are working on the management of the newbuilding </span></div><div class=\"ps423 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">process have been capitalised. These capita</span><span class=\"f charStyle-c1b8f9f6 ps7877\">lised costs amounted to</span><span class=\"f charStyle-c1b8f9f6 ps7878\"> </span><span class=\"f charStyle-c1b8f9f6 ps7879\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7880\"> </span><span class=\"f charStyle-c1b8f9f6 ps7881\">7.8</span><span class=\"f charStyle-c1b8f9f6 ps7882\"> m</span><span class=\"f charStyle-c1b8f9f6 ps7883\">illion</span><span class=\"f charStyle-c1b8f9f6 ps7884\"> in </span><span class=\"f charStyle-c1b8f9f6 ps7885\">2025</span><span class=\"f charStyle-c1b8f9f6 ps7886\">, </span><span class=\"f charStyle-c1b8f9f6 ps7887\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7888\"> </span><span class=\"f charStyle-c1b8f9f6 ps7889\">2.7\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7890\"> </span></div><div class=\"ps424 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">in </span><span class=\"f charStyle-c1b8f9f6 ps5047\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7891\"> and </span><span class=\"f charStyle-c1b8f9f6 ps7892\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7893\"> </span><span class=\"f charStyle-c1b8f9f6 ps7894\">1.1\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7895\"> in</span><span class=\"f charStyle-c1b8f9f6 ps7896\"> </span><span class=\"f charStyle-c1b8f9f6 ps7897\">2023</span><span class=\"f charStyle-c1b8f9f6 ps7898\"> and are recognised under assets under construction.</span></div><div class=\"ps9588 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Leas interest expenses recognised in profit and loss </span></div><div class=\"ps9589 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps186\">1.<span class=\"f ps43\"> </span></span><span class=\"f charStyle-4ecd4cad ps1760\">Interest expense</span></div><div class=\"ps9593 ss0\"><div class=\"ss194 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:191.25pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss704\"><div><div class=\"ps6190 ss701\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9551 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-281247bf ps3727\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9552 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-054ead99 ps3727\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5299 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-054ead99 ps3727\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:27pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4283 ss706\"><div><div class=\"ps8707 ss701\"><span class=\"f charStyle-1bac868e ps633\">Interest expense on lease liabilities (vessels <span class=\"f ps43\"> </span></span></div><div class=\"ps8708 ss701\"><span class=\"f charStyle-1bac868e ps633\">and office)</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9590 ss707\"><div><div class=\"ps8708 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">746</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9591 ss707\"><div><div class=\"ps8708 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">428</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9592 ss707\"><div><div class=\"ps8708 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.27pt\"></span></span><span class=\"ps9565\">25</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps4203 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps186\">1.<span class=\"f ps43\"> </span></span><span class=\"f charStyle-4ecd4cad ps1760\">Lease expense not capitalised in lease liabilities</span></div><div class=\"ps9594 ss0\"><div class=\"ss194 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:191.25pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss704\"><div><div class=\"ps6190 ss701\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9551 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-281247bf ps3727\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9552 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-054ead99 ps3727\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5299 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-054ead99 ps3727\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4283 ss708\"><div><div class=\"ps44 ss701\"><span class=\"f charStyle-1bac868e ps633\">Short-term lease expense<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9590 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">614</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9591 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">477</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9592 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">180</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6933 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Total cas</span><span class=\"f charStyle-c1b8f9f6 ps9595\">h ou</span><span class=\"f charStyle-c1b8f9f6 ps9596\">tflow for all leases in </span><span class=\"f charStyle-c1b8f9f6 ps9597\">2025</span><span class=\"f charStyle-c1b8f9f6 ps9598\">, </span><span class=\"f charStyle-c1b8f9f6 ps9599\">2024</span><span class=\"f charStyle-c1b8f9f6 ps9600\"> and </span><span class=\"f charStyle-c1b8f9f6 ps9601\">2023</span><span class=\"f charStyle-c1b8f9f6 ps9602\"> were</span><span class=\"f charStyle-c1b8f9f6 ps9603\"> </span><span class=\"f charStyle-c1b8f9f6 ps9604\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9605\"> </span><span class=\"f charStyle-c1b8f9f6 ps9606\">2,686</span><span class=\"f charStyle-c1b8f9f6 ps9607\"> thousand</span><span class=\"f charStyle-c1b8f9f6 ps9608\">, </span><span class=\"f charStyle-c1b8f9f6 ps9609\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9610\"> </span><span class=\"f charStyle-c1b8f9f6 ps9611\">1,152\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps9612\"> and </span></div><div class=\"ps9616 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">283\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps9613\"> respectively, excluding variable lease fee (refer to </span><span class=\"f charStyle-c1b8f9f6 ps9614\">Note 24). Please refer to Note 28</span><span class=\"f charStyle-c1b8f9f6 ps9615\"> for </span></div><div class=\"ps9617 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">disclosure on lease commitments. </span></div><div class=\"ps9621 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Lease liabilities<span id=\"i906fb04c707e4a55b0265cca42759d6e\"></span></span></div><div class=\"ps2679 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">At the inception of a contract, the Group assesses whether the contract contains a lease. A contract contains </span></div><div class=\"ps2680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">a lease if it conveys the right to control the use of an identified asset for a period of time in exchange for </span></div><div class=\"ps2681 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">consideration. Reassessment is required only when the terms and conditions of the contract are changed.</span></div><div class=\"ps6983 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">At the commencement date of the lease, the Group recognises lease liabilities measured at the present </span></div><div class=\"ps9283 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">value of lease payments to be made over the lease term. The lease payments include fixed payments </span></div><div class=\"ps9289 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(including in-substance fixed payments) less any lease incentives receivable, variable lease payments that </span></div><div class=\"ps9294 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">depend on an index or a rate, and amounts expected to be paid under residual value guarantees.</span></div><div class=\"ps2983 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Variable lease payments that do not depend on an index or a rate are recognised as expenses in the period </span></div><div class=\"ps2984 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">in which the event or condition that triggers the payment occurs. Utilisation based lease fees are classified <span class=\"f ps43\"> </span></span></div><div class=\"ps2985 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">as variable lease payments.</span></div><div class=\"ps2986 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the </span></div><div class=\"ps2987 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">lease commencement date, as the interest rate implicit in the lease is not readily determinable. After the </span></div><div class=\"ps2988 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">commencement date, the carrying amount of lease liabilities is increased to reflect the accretion of interest </span></div><div class=\"ps2989 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">and reduced by lease payments made.</span></div><div class=\"ps2990 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the </span></div><div class=\"ps2991 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an </span></div><div class=\"ps3118 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">index or rate used to determine such lease payments) or a change in the assessment of an option to </span></div><div class=\"ps3119 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">purchase the underlying asset.</span></div><div class=\"ps9626 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Short-term and low-value leases<span id=\"i47c0a14c77d249589203643c44fd375a\"></span></span></div><div class=\"ps9627 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group has elected not to recognise right-of-use assets and lease liabilities for short-term leases with </span></div><div class=\"ps9369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">lease terms of </span><span class=\"f charStyle-c1b8f9f6 ps7514\">twelve months</span><span class=\"f charStyle-c1b8f9f6 ps9628\"> or less, and for low-value leases. Lease payments relating to these leases are </span></div><div class=\"ps9370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">expensed to profit or loss on a straight-line basis over the lease term. Short-term and low-value leases </span></div><div class=\"ps9371 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">include cars, coffee machines, office premises and AV equipment.</span></div><div class=\"ps9760 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies<span id=\"id45d7b41ad8e457a85cd27d16fcb0747\"></span></span></div><div class=\"ps9761 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Financial assets<span id=\"i84d16ac46774406bb2607018955ce9e3\"></span></span></div><div class=\"ps9762 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The classification of financial assets depends on the Group\u2019s business model for managing the financial </span></div><div class=\"ps9763 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">assets as well as the contractual terms of the cash flows of the respective financial assets.</span></div><div class=\"ps3382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1760\">(1)<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1761\">At initial recognition: the Group measures a financial asset at fair value, plus, in the case of a </span></div><div class=\"ps3384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">financial asset not measured at fair value through profit or loss, transaction costs that are directly </span></div><div class=\"ps3385 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">attributable to the acquisition of the financial assets. Transaction costs of financial assets carried at </span></div><div class=\"ps3386 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">fair value through profit or loss are recognised as an expense in profit or loss.</span></div><div class=\"ps2680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1760\">(1i)<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1761\">At subsequent measurement: the Group\u2019s financial assets mainly comprise cash and bank balances, </span></div><div class=\"ps2681 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">trade receivables and other current assets.</span></div><div class=\"ps9622 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Interest income from these financial assets is recognised using the effective interest rate method.</span></div><div class=\"ps2357 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group assesses on a forward-looking basis the expected credit losses associated with its financial assets </span></div><div class=\"ps2358 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">carried at amortised cost. For trade and other receivables, the Group applied the simplified approach </span></div><div class=\"ps2359 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">permitted by IFRS 9, which requires lifetime expected losses to be recognised from initial recognition of the </span></div><div class=\"ps2360 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">receivables.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfExpensesExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-520": {
   "value": "<div class=\"ps7670 ss0\"><div class=\"ss615 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:200.25pt\"></td><td style=\"padding:0;width:53.25pt\"></td><td style=\"padding:0;width:53.25pt\"></td><td style=\"padding:0;width:53.25pt\"></td><td style=\"padding:0;width:53.25pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss610\"><div><div class=\"ps7604 ss318\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7606 ss611\"><div><div class=\"ps4431 ss225\"><span class=\"f charStyle-054ead99 ps7605\">Note<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7608 ss611\"><div><div class=\"ps4431 ss225\"><span class=\"f charStyle-281247bf ps7607\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7609 ss611\"><div><div class=\"ps4431 ss225\"><span class=\"f charStyle-054ead99 ps7607\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7610 ss611\"><div><div class=\"ps4431 ss225\"><span class=\"f charStyle-054ead99 ps7607\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:26.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps442 ss612\"><div><div class=\"ps3884 ss318\"><span class=\"f charStyle-b07b4361 ps42\">Cost of sales<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps2060 ss613\"><div><div class=\"ps751 ss318\"><span class=\"f charStyle-1bac868e ps633\">Right-of-use asset depreciation<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7611 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44 ps5189\">14<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7613 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.22pt\"></span></span><span class=\"ps7612\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7615 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.67pt\"></span></span><span class=\"ps7614\">235</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7617 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.52pt\"></span></span><span class=\"ps7616\">30</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps2129 ss613\"><div><div class=\"ps751 ss318\"><span class=\"f charStyle-1bac868e ps633\">Insurance<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7619 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">6,268</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7620 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">2,754</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7621 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">1,573</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps656 ss613\"><div><div class=\"ps751 ss318\"><span class=\"f charStyle-1bac868e ps633\">Vessel depreciation<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7622 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44 ps5189\">13<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7624 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:13.17pt\"></span></span><span class=\"ps7623\">104,042</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7626 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7625\">53,696</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7627 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7625\">22,484</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps6714 ss613\"><div><div class=\"ps751 ss318\"><span class=\"f charStyle-1bac868e ps633\">Impairment of property, plant and equipment<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7628 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44 ps5189\">13<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7629 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.22pt\"></span></span><span class=\"ps7612\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7630 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.22pt\"></span></span><span class=\"ps7612\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7631 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">5,000</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps7381 ss613\"><div><div class=\"ps751 ss318\"><span class=\"f charStyle-1bac868e ps633\">Seafarer payroll<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7632 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44 ps5204\">6<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7633 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7625\">50,088</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7634 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7625\">32,285</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7635 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7625\">15,921</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps1826 ss613\"><div><div class=\"ps751 ss318\"><span class=\"f charStyle-1bac868e ps633\">Fuel and oil<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7636 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">7,928</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7637 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">2,976</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7638 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.67pt\"></span></span><span class=\"ps7614\">711</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps7639 ss613\"><div><div class=\"ps751 ss318\"><span class=\"f charStyle-1bac868e ps633\">Maintenance<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7640 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7625\">17,878</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7641 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">7,886</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7642 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">5,121</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps4620 ss613\"><div><div class=\"ps751 ss318\"><span class=\"f charStyle-1bac868e ps633\">Messing costs<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7643 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">5,270</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7644 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">2,948</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7645 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">1,448</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps6432 ss613\"><div><div class=\"ps751 ss318\"><span class=\"f charStyle-1bac868e ps633\">Seafarer travel<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7646 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7625\">11,634</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7647 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">7,110</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7648 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">2,835</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps7649 ss613\"><div><div class=\"ps751 ss318\"><span class=\"f charStyle-1bac868e ps633\">Specific charter costs<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7650 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7625\">30,512</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7651 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7625\">10,776</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7652 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">4,052</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps7653 ss613\"><div><div class=\"ps751 ss318\"><span class=\"f charStyle-1bac868e ps633\">Utilities<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7654 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">1,720</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7655 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">1,308</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7656 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.67pt\"></span></span><span class=\"ps7614\">389</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps5334 ss613\"><div><div class=\"ps751 ss318\"><span class=\"f charStyle-1bac868e ps633\">Other operating expenses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7657 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">1,334</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7658 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">2,254</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7659 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.67pt\"></span></span><span class=\"ps7614\">294</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps7660 ss613\"><div><div class=\"ps751 ss318\"><span class=\"f charStyle-1bac868e ps633\">Tonnage tax<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7661 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.52pt\"></span></span><span class=\"ps7616\">81</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7662 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.22pt\"></span></span><span class=\"ps7612\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7663 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.22pt\"></span></span><span class=\"ps7612\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7664 ss613\"><div><div class=\"ps751 ss318\"><span class=\"f charStyle-b07b4361 ps42\">Total cost of sales<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7666 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:10.77pt\"></span></span><span class=\"ps7665\">236,755</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7667 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:10.77pt\"></span></span><span class=\"ps7665\">124,228</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7669 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:15.94pt\"></span></span><span class=\"ps7668\">59,858</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7670 ss0\"><div class=\"ss119 ws0 ps2915\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:189pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss617\"><div><div class=\"ps750 ss616\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7672 ss475\"><div><div class=\"ps44 ss337\"><span class=\"f charStyle-054ead99 ps6301\">Note<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6193 ss475\"><div><div class=\"ps44 ss337\"><span class=\"f charStyle-281247bf ps6302\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7673 ss475\"><div><div class=\"ps44 ss337\"><span class=\"f charStyle-054ead99 ps6302\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6040 ss475\"><div><div class=\"ps44 ss337\"><span class=\"f charStyle-054ead99 ps6302\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps46 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-b07b4361 ps42\">Administrative expenses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps634 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-1bac868e ps633\">Depreciation and amortisation<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7678 ss619\"><div><div class=\"ps7675 ss337\"><span class=\"f charStyle-e5ec5c44 ps7674\">\u00a012\u00a0,\u00a013\u00a0,\u00a014<span class=\"f ps43\"> </span></span></div><div class=\"ps7677 ss337\"><span class=\"f charStyle-e5ec5c44 ps7676\">\u00a0</span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7679 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">3,549</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7680 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">2,522</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7681 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6318\">534</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5266 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-1bac868e ps633\">Employee compensation<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7683 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44 ps7682\">6<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7684 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6307\">46,282</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7685 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6307\">33,132</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7686 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6307\">18,889</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps2072 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-1bac868e ps633\">Repair and maintenance expenses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7687 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">3,449</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7688 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">3,020</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7689 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">1,123</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps770 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-1bac868e ps633\">Legal and professional fees<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7690 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">9,087</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7691 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">7,576</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7692 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">2,122</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5151 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-1bac868e ps633\">Transaction costs<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7693 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6333\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7694 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6333\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7695 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">7,707</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps7696 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-1bac868e ps633\">Rental expenses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7697 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">2,484</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7698 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">1,757</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7699 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6318\">751</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps64 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-1bac868e ps633\">Travel expense<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps6417 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">2,393</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7700 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">1,988</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7701 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6318\">985</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps7702 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-1bac868e ps633\">Marketing and entertainment expenses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7703 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6318\">968</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7704 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">1,283</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7705 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6318\">602</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5702 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-1bac868e ps633\">Other expenses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7706 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">6,414</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7707 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">5,823</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7708 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">1,745</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5998 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-b07b4361 ps42\">Total administrative expenses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7709 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7387\">74,626</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7710 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7387\">57,101</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7711 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7387\">34,458</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps2438 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">Transaction costs in 2023 include all costs related to the business combination with Eneti, such as advisory, </span></div><div class=\"ps2439 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">legal and consulting fees, which are included in administrative expenses.</span></div><div><div id=\"i60a9312555114c61b3ebee7078e135c5_2486\" style=\"position:absolute;top:42.52pt\"></div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 12</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Intangible Assets<span id=\"i5659d7b42a954133ae10d740547684b9\"></span></span></div><div class=\"ps7670 ss0\"><div class=\"ss670 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:180.75pt\"></td><td style=\"padding:0;width:74.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8740 ss556\"><div><div class=\"ps44 ss164\"><span class=\"f charStyle-281247bf ps8739\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"></td><td style=\"background-color:#206079;padding:0\"></td><td style=\"padding:0\"><div class=\"ps6076 ss556\"><div><div class=\"ps44 ss164\"><span class=\"f charStyle-054ead99 ps8739\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps8741 ss556\"><div><div class=\"ps44 ss164\"><span class=\"f charStyle-054ead99 ps8739\">2023<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps46 ss669\"><div><div class=\"ps8742 ss668\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8745 ss165\"><div><div class=\"ps8744 ss164\"><span class=\"f charStyle-281247bf ps8743\">Software<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8747 ss165\"><div><div class=\"ps8744 ss164\"><span class=\"f charStyle-281247bf ps8746\">Goodwill<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8748 ss165\"><div><div class=\"ps8744 ss164\"><span class=\"f charStyle-281247bf ps5306\">Total<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8749 ss165\"><div><div class=\"ps8744 ss164\"><span class=\"f charStyle-054ead99 ps8743\">Software<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8750 ss165\"><div><div class=\"ps8744 ss164\"><span class=\"f charStyle-054ead99 ps8746\">Goodwill<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8751 ss165\"><div><div class=\"ps8744 ss164\"><span class=\"f charStyle-054ead99 ps5306\">Total<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8752 ss165\"><div><div class=\"ps8744 ss164\"><span class=\"f charStyle-054ead99 ps8743\">Software<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8754 ss165\"><div><div class=\"ps8744 ss164\"><span class=\"f charStyle-054ead99 ps8753\">Goodwill<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8755 ss165\"><div><div class=\"ps8744 ss164\"><span class=\"f charStyle-054ead99 ps6506\">Total<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5184 ss669\"><div><div class=\"ps4584 ss668\"><span class=\"f charStyle-b07b4361 ps42\">Cost<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps2158 ss669\"><div><div class=\"ps4584 ss668\"><span class=\"f charStyle-1bac868e ps633\">Beginning of period<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8756 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6516\">1,069</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8757 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.02pt\"></span></span><span class=\"ps6509\">17,763</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8758 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.02pt\"></span></span><span class=\"ps6509\">18,832</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8760 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">693</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8761 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.02pt\"></span></span><span class=\"ps6509\">16,707</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8762 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.02pt\"></span></span><span class=\"ps6509\">17,400</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8763 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">662</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8764 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8765 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">662</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps6329 ss669\"><div><div class=\"ps4584 ss668\"><span class=\"f charStyle-1bac868e ps633\">Acquisition of businesses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8766 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8767 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8768 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8769 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8770 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8771 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8772 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8773 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.02pt\"></span></span><span class=\"ps6509\">16,919</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8774 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.02pt\"></span></span><span class=\"ps6509\">16,919</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps1035 ss669\"><div><div class=\"ps4584 ss668\"><span class=\"f charStyle-1bac868e ps633\">Additions<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8775 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6516\">1,506</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8776 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8777 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6516\">1,506</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8778 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">410</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8779 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8780 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">410</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8781 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.52pt\"></span></span><span class=\"ps6646\">31</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8782 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8783 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.52pt\"></span></span><span class=\"ps6646\">31</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps8784 ss669\"><div><div class=\"ps4584 ss668\"><span class=\"f charStyle-1bac868e ps633\">Disposals<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8785 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8786 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8787 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8789 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.1pt\"></span></span><span class=\"ps8788\">(38)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8790 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8791 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.1pt\"></span></span><span class=\"ps8788\">(38)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8792 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8793 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8794 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps1826 ss669\"><div><div class=\"ps4584 ss668\"><span class=\"f charStyle-1bac868e ps633\">Exchange differences<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8795 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8796 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8797 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8798 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:60.37pt\"></span></span><span class=\"ps6644\">4</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8799 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6516\">1,056</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8800 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6516\">1,060</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8801 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8803 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:45.25pt\"></span></span><span class=\"ps8802\">(212)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8804 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:45.25pt\"></span></span><span class=\"ps8802\">(212)</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8805 ss669\"><div><div class=\"ps4584 ss668\"><span class=\"f charStyle-b07b4361 ps42\">31 December<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8806 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.11pt\"></span></span><span class=\"ps6623\">2,575</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8807 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6578\">17,763</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8808 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6578\">20,338</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8809 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.11pt\"></span></span><span class=\"ps6623\">1,069</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8810 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6578\">17,763</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8811 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6578\">18,832</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8813 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8812\">693</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8814 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6578\">16,707</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8815 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6578\">17,400</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8816 ss669\"><div><div class=\"ps4584 ss668\"><span class=\"f charStyle-b07b4361 ps42\">Accumulated depreciation<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps4828 ss669\"><div><div class=\"ps4584 ss668\"><span class=\"f charStyle-1bac868e ps633\">Beginning of period<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8817 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">642</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8818 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8819 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">642</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8820 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">453</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8821 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8822 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">453</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8823 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">243</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8824 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8825 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">243</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps2231 ss669\"><div><div class=\"ps4584 ss668\"><span class=\"f charStyle-1bac868e ps633\">Depreciation charge<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8826 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">264</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8827 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8828 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">264</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8829 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">189</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8830 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8831 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">189</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8832 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">210</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8833 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8834 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">210</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6618 ss669\"><div><div class=\"ps4584 ss668\"><span class=\"f charStyle-b07b4361 ps42\">31 December<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8835 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8812\">906</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8836 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8837 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8812\">906</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8838 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8812\">642</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8839 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8840 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8812\">642</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8841 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8812\">453</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8842 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8843 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8812\">453</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4023 ss669\"><div><div class=\"ps4584 ss668\"><span class=\"f charStyle-b07b4361 ps42\">Net book value<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8844 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.11pt\"></span></span><span class=\"ps6623\">1,669</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8845 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6578\">17,763</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8846 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6578\">19,432</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8847 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8812\">427</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8848 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6578\">17,763</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8849 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6578\">18,190</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8850 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8812\">240</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8851 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6578\">16,707</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8852 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6578\">16,947</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps3129 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Software additions during </span><span class=\"f charStyle-c1b8f9f6 ps8853\">2025</span><span class=\"f charStyle-c1b8f9f6 ps8854\">, </span><span class=\"f charStyle-c1b8f9f6 ps8855\">2024</span><span class=\"f charStyle-c1b8f9f6 ps8856\"> and </span><span class=\"f charStyle-c1b8f9f6 ps8857\">2023</span><span class=\"f charStyle-c1b8f9f6 ps8858\"> are mainly related to the development of the Company\u2019s software solutions. In 2025, software additions also included the implementation costs related to the Enterprise </span></div><div class=\"ps3130 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Resource Planning (ERP) system.</span></div><div class=\"ps3102 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Goodwill of </span><span class=\"f charStyle-c1b8f9f6 ps8859\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8860\"> </span><span class=\"f charStyle-c1b8f9f6 ps8861\">16.9\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8862\"> was recognised on 19 December 2023 in relation to the acquisition of Eneti. The Group has </span><span class=\"f charStyle-c1b8f9f6 ps8863\">two</span><span class=\"f charStyle-c1b8f9f6 ps8864\"> CGUs consisting of the WTGFIV and the O&amp;M units with specific vessels allocated.</span></div></div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 13</span></div><div class=\"ps8952 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Property, Plant and Equipment<span id=\"ied4456ff49794ff3861be233ee7ad17a\"></span></span></div><div class=\"ps9040 ss0\"><div class=\"ss644 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:206.25pt\"></td><td style=\"padding:0;width:131.25pt\"></td><td style=\"padding:0;width:131.25pt\"></td><td style=\"padding:0;width:131.25pt\"></td><td style=\"padding:0;width:131.25pt\"></td><td style=\"padding:0;width:131.25pt\"></td></tr><tr style=\"height:32.25pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss678\"><div><div class=\"ps8954 ss677\"><span class=\"f charStyle-4979afbe ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8956 ss680\"><div><div class=\"ps5573 ss679\"><span class=\"f charStyle-281247bf ps8955\">Vessels<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8958 ss680\"><div><div class=\"ps5573 ss679\"><span class=\"f charStyle-281247bf ps8957\">Dry dock<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8960 ss680\"><div><div class=\"ps5573 ss679\"><span class=\"f charStyle-281247bf ps8959\">Other fixtures and fittings<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8962 ss680\"><div><div class=\"ps5573 ss679\"><span class=\"f charStyle-281247bf ps8961\">Assets under construction<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8964 ss680\"><div><div class=\"ps5573 ss679\"><span class=\"f charStyle-281247bf ps8963\">Total<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8878 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-b07b4361 ps42\">Cost 2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps8888 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-1bac868e ps42\">Beginning of financial year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8966 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:84.37pt\"></span></span><span class=\"ps8965\">1,056,664</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8968 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8967\">17,644</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8969 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8967\">13,513</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8971 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8970\">736,610</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8972 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:84.37pt\"></span></span><span class=\"ps8965\">1,824,431</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps7792 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-1bac868e ps42\">Additions<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8973 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8967\">71,255</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8975 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:107.67pt\"></span></span><span class=\"ps8974\">843</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8977 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8976\">3,661</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8978 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:84.37pt\"></span></span><span class=\"ps8965\">1,254,658</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8979 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:84.37pt\"></span></span><span class=\"ps8965\">1,330,417</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps2262 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-1bac868e ps42\">Transfer from assets under construction<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8980 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:84.37pt\"></span></span><span class=\"ps8965\">1,381,140</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8981 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8967\">20,423</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8983 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:90.6pt\"></span></span><span class=\"ps8982\">(10,371)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8985 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:78.95pt\"></span></span><span class=\"ps8984\">(1,391,192)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8987 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5209 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-1bac868e ps42\">Disposals<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8988 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8989 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8991 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:102.25pt\"></span></span><span class=\"ps8990\">(124)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8992 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8993 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:102.25pt\"></span></span><span class=\"ps8990\">(124)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps7381 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-1bac868e ps42\">Exchange differences<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8994 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8995 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8996 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8997 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8998 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5684 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-23b55a92 ps42\">31 December 2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9000 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:81.17pt\"></span></span><span class=\"ps8999\">2,509,059</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9002 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:93.94pt\"></span></span><span class=\"ps9001\">38,910</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9003 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:99.11pt\"></span></span><span class=\"ps5269\">6,679</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9005 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9004\">600,076</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9006 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:81.17pt\"></span></span><span class=\"ps8999\">3,154,724</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9007 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-b07b4361 ps42\">Accumulated depreciation and impairment<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps9008 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-1bac868e ps42\">Beginning of financial year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9009 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8970\">104,119</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9010 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8976\">6,541</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9011 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8976\">1,505</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9012 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9013 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8970\">112,165</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps6590 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-1bac868e ps42\">Depreciation charge<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9014 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8967\">97,614</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9015 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8976\">6,425</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9016 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8976\">1,582</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9017 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9018 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8970\">105,621</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps529 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-1bac868e ps42\">Disposals<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9019 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9020 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9021 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:102.25pt\"></span></span><span class=\"ps8990\">(123)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9022 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9023 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:102.25pt\"></span></span><span class=\"ps8990\">(123)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps4837 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-1bac868e ps42\">Exchange differences<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9024 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9025 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9026 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9027 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9028 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"background-color:#206079;padding:0\"><div class=\"ps1875 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-23b55a92 ps42\">31 December 2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9029 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9004\">201,733</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9030 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:93.94pt\"></span></span><span class=\"ps9001\">12,966</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9031 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:99.11pt\"></span></span><span class=\"ps5269\">2,964</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9032 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9033 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9004\">217,663</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9034 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-b07b4361 ps42\">Net book value<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9035 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:81.17pt\"></span></span><span class=\"ps8999\">2,307,326</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9036 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:93.94pt\"></span></span><span class=\"ps9001\">25,944</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9037 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:99.11pt\"></span></span><span class=\"ps5269\">3,715</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9038 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9004\">600,076</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9039 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:81.17pt\"></span></span><span class=\"ps8999\">2,937,061</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7498 ss0\"><div class=\"ss644 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:206.25pt\"></td><td style=\"padding:0;width:131.25pt\"></td><td style=\"padding:0;width:131.25pt\"></td><td style=\"padding:0;width:131.25pt\"></td><td style=\"padding:0;width:131.25pt\"></td><td style=\"padding:0;width:131.25pt\"></td></tr><tr style=\"height:32.25pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss678\"><div><div class=\"ps8954 ss677\"><span class=\"f charStyle-4979afbe ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8956 ss680\"><div><div class=\"ps5573 ss679\"><span class=\"f charStyle-281247bf ps8955\">Vessels<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8958 ss680\"><div><div class=\"ps5573 ss679\"><span class=\"f charStyle-281247bf ps8957\">Dry dock<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8960 ss680\"><div><div class=\"ps5573 ss679\"><span class=\"f charStyle-281247bf ps8959\">Other fixtures and fittings<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8962 ss680\"><div><div class=\"ps5573 ss679\"><span class=\"f charStyle-281247bf ps8961\">Assets under construction<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8964 ss680\"><div><div class=\"ps5573 ss679\"><span class=\"f charStyle-281247bf ps8963\">Total<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8878 ss683\"><div><div class=\"ps744 ss677\"><span class=\"f charStyle-b07b4361 ps42\">Cost 2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps2154 ss683\"><div><div class=\"ps744 ss677\"><span class=\"f charStyle-1bac868e ps633\">Beginning of financial year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9089 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8970\">566,360</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9090 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8976\">9,135</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9091 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:107.67pt\"></span></span><span class=\"ps8974\">979</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9092 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8970\">571,745</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9093 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:84.37pt\"></span></span><span class=\"ps8965\">1,148,219</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps5193 ss683\"><div><div class=\"ps744 ss677\"><span class=\"f charStyle-1bac868e ps633\">Additions<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9094 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8976\">8,029</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9095 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8976\">4,377</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9096 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8967\">12,680</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9097 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8970\">624,679</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9098 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8970\">649,765</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps4113 ss683\"><div><div class=\"ps744 ss677\"><span class=\"f charStyle-1bac868e ps633\">Transfer from assets under construction<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9099 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8970\">468,678</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9100 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8976\">4,000</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9101 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9103 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:85.75pt\"></span></span><span class=\"ps9102\">(472,678)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9104 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps1811 ss683\"><div><div class=\"ps744 ss677\"><span class=\"f charStyle-1bac868e ps633\">Disposals<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9106 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:95.45pt\"></span></span><span class=\"ps9105\">(5,146)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9107 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9108 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:102.25pt\"></span></span><span class=\"ps8990\">(306)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9109 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9110 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:95.45pt\"></span></span><span class=\"ps9105\">(5,452)</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps2140 ss683\"><div><div class=\"ps744 ss677\"><span class=\"f charStyle-1bac868e ps633\">Exchange differences<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9111 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8967\">18,743</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9112 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:107.67pt\"></span></span><span class=\"ps8974\">132</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9113 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:107.67pt\"></span></span><span class=\"ps8974\">160</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9114 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8967\">12,864</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9115 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8967\">31,899</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2269 ss683\"><div><div class=\"ps744 ss677\"><span class=\"f charStyle-23b55a92 ps42\">31 December 2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9116 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:81.17pt\"></span></span><span class=\"ps8999\">1,056,664</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9117 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:93.94pt\"></span></span><span class=\"ps9001\">17,644</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9118 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:93.94pt\"></span></span><span class=\"ps9001\">13,513</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9119 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9004\">736,610</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9120 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:81.17pt\"></span></span><span class=\"ps8999\">1,824,431</span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps6347 ss685\"><div><div class=\"ps2173 ss677\"><span class=\"f charStyle-b07b4361 ps42\">Accumulated depreciation and impairment<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps9121 ss683\"><div><div class=\"ps744 ss677\"><span class=\"f charStyle-1bac868e ps633\">Beginning of financial year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9122 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8967\">58,727</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9123 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8976\">3,548</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9124 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:107.67pt\"></span></span><span class=\"ps8974\">312</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9125 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9126 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8967\">62,587</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps5534 ss683\"><div><div class=\"ps744 ss677\"><span class=\"f charStyle-1bac868e ps633\">Depreciation charge<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9127 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8967\">50,571</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9128 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8976\">3,125</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9129 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8976\">1,166</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9130 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9131 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8967\">54,862</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps5702 ss683\"><div><div class=\"ps744 ss677\"><span class=\"f charStyle-1bac868e ps633\">Disposals<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9132 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:95.45pt\"></span></span><span class=\"ps9105\">(5,000)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9133 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9134 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:102.25pt\"></span></span><span class=\"ps8990\">(306)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9135 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9136 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:95.45pt\"></span></span><span class=\"ps9105\">(5,306)</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps798 ss683\"><div><div class=\"ps744 ss677\"><span class=\"f charStyle-1bac868e ps633\">Impairment on disposal<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9137 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9138 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9139 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9140 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9141 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps6831 ss683\"><div><div class=\"ps744 ss677\"><span class=\"f charStyle-1bac868e ps633\">Exchange differences<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9142 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:102.25pt\"></span></span><span class=\"ps8990\">(179)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9143 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:102.25pt\"></span></span><span class=\"ps8990\">(132)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9144 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:107.67pt\"></span></span><span class=\"ps8974\">333</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9145 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9147 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:112.52pt\"></span></span><span class=\"ps9146\">22</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps4631 ss683\"><div><div class=\"ps744 ss677\"><span class=\"f charStyle-23b55a92 ps42\">31 December 2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9148 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9004\">104,119</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9149 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:99.11pt\"></span></span><span class=\"ps5269\">6,541</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9150 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:99.11pt\"></span></span><span class=\"ps5269\">1,505</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9151 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9152 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9004\">112,165</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9153 ss683\"><div><div class=\"ps744 ss677\"><span class=\"f charStyle-b07b4361 ps42\">Net book value<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9154 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9004\">952,545</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9155 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:93.94pt\"></span></span><span class=\"ps9001\">11,103</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9156 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:93.94pt\"></span></span><span class=\"ps9001\">12,008</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9157 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9004\">736,610</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9158 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:81.17pt\"></span></span><span class=\"ps8999\">1,712,266</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps9335 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies<span id=\"i0ddbd7e4d5ee4f2694b6407c8d48253e\"></span></span></div><div class=\"ps7317 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Property, plant and equipment are recognised at cost less accumulated depreciation and accumulated </span></div><div class=\"ps8865 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">impairment losses.</span></div><div class=\"ps6966 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The cost of an item of property, plant and equipment initially recognised includes its purchase price and any </span></div><div class=\"ps6967 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">costs that are directly attributable to bringing the asset to the location and condition necessary for it to be </span></div><div class=\"ps6970 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">capable of operating in the manner intended by management.</span></div><div class=\"ps6971 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Subsequent expenditure relating to property, plant and equipment that has already been recognised is </span></div><div class=\"ps7347 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">added to the carrying amount of the asset only when it is probable that future economic benefits associated </span></div><div class=\"ps9336 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">with the item will flow to the Group and the cost of the item can be measured reliably. All other repair and </span></div><div class=\"ps9337 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">maintenance expenses are recognised in profit or loss as incurred.</span></div><div class=\"ps9339 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">To maintain operational capability, the vessels are required to undergo dry-docking procedures every </span><span class=\"f charStyle-c1b8f9f6 ps9338\">five </span></div><div class=\"ps9340 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">years</span><span class=\"f charStyle-c1b8f9f6 ps8104\">. The costs of the dry-docking procedures are capitalised at cost, including any costs that are directly </span></div><div class=\"ps9341 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">attributable to bringing the vessels to the location and condition necessary for the dry-docking procedures.</span></div><div class=\"ps8937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Depreciation is calculated using the straight-line method to allocate their depreciable amounts over the </span></div><div class=\"ps9343 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">assets\u2019 estimated useful life. </span><span class=\"f charStyle-c1b8f9f6 ps9342\">The estimated useful lives are as follows:</span></div><div class=\"ps9351 ss0\"><div class=\"ss177 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:242.25pt\"></td><td style=\"padding:0;width:174.75pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #000000;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #000;padding:0\"><div class=\"ps8576 ss689\"><div><div class=\"ps44 ss688\"><span class=\"f charStyle-a2ac8934 ps42\">Useful life<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"background-color:#ffffff;border-top:1pt solid #000000;padding:0\"><div class=\"ps46 ss690\"><div><div class=\"ps751 ss657\"><span class=\"f charStyle-2b5af115 ps42\">Vessels and furnished equipment<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:1pt solid #000;padding:0\"><div class=\"ps9345 ss691\"><div><div class=\"ps751 ss688\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps42\">Up to </span><span class=\"f charStyle-1770e19e ps9344\">25 years</span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps5635 ss690\"><div><div class=\"ps751 ss657\"><span class=\"f charStyle-2b5af115 ps42\">Drydock<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9346 ss691\"><div><div class=\"ps751 ss688\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps42\">5 years</span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps2250 ss690\"><div><div class=\"ps751 ss657\"><span class=\"f charStyle-2b5af115 ps42\">Cars<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps9347 ss691\"><div><div class=\"ps751 ss688\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps42\">5 years</span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps5516 ss690\"><div><div class=\"ps751 ss657\"><span class=\"f charStyle-2b5af115 ps42\">Other fixtures and fittings<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9350 ss691\"><div><div class=\"ps751 ss688\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps42\">2</span><span class=\"f charStyle-1770e19e ps9348\"> to </span><span class=\"f charStyle-1770e19e ps9349\">3 years</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6983 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The estimated useful life of the vessels of up to </span><span class=\"f charStyle-c1b8f9f6 ps9352\">25 years</span><span class=\"f charStyle-c1b8f9f6 ps9353\"> has been determined by an external consultant </span></div><div class=\"ps9283 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">through a fatigue analysis based on the technical specification of the vessels, whereas for Wind Peak, the </span></div><div class=\"ps9289 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">estimated useful life has been determined based on an internal technical analysis, validated by an external </span></div><div class=\"ps9294 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">expert. The estimated useful life of these vessels depends on the initial delivery date. </span></div><div class=\"ps2983 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Prior to their acquisition, Wind Orca and Wind Osprey, had already been in use for </span><span class=\"f charStyle-c1b8f9f6 ps9354\">eight years</span><span class=\"f charStyle-c1b8f9f6 ps9355\">, therefore the </span></div><div class=\"ps2984 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">remaining useful life of these vessels is estimated at </span><span class=\"f charStyle-c1b8f9f6 ps9356\">17 years</span><span class=\"f charStyle-c1b8f9f6 ps9357\"> for all components except for the jacking </span></div><div class=\"ps2985 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">system and the main crane, which have a remaining useful life of </span><span class=\"f charStyle-c1b8f9f6 ps9358\">three years</span><span class=\"f charStyle-c1b8f9f6 ps9359\"> from the acquisition date. For </span></div><div class=\"ps3304 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Wind Scylla and Wind Zaratan, the remaining useful lives at the acquisition date were assessed to be </span><span class=\"f charStyle-c1b8f9f6 ps9360\">17</span><span class=\"f charStyle-c1b8f9f6 ps9361\"> and </span></div><div class=\"ps3305 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">14 years</span><span class=\"f charStyle-c1b8f9f6 ps9362\"> respectively, and all components are assigned the same useful life. Hull and steel components have </span></div><div class=\"ps3306 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">a salvage value of up to</span><span class=\"f charStyle-c1b8f9f6 ps9363\"> </span><span class=\"f charStyle-c1b8f9f6 ps9364\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9365\"> </span><span class=\"f charStyle-c1b8f9f6 ps9366\">15\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9367\"> per vessel at the end of their useful lives. Both the salvage value and </span></div><div class=\"ps3307 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">the residual value are estimated as the lightweight tonnage of each vessel multiplied by the scrap value per </span></div><div class=\"ps3308 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">tonne. Depreciation is based on costs less the estimated residual value.</span></div><div class=\"ps3111 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Further information is provided in Note 2.4, Material accounting judgements, estimates and assumptions, in </span></div><div class=\"ps3112 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">relation to vessels acquired through the business combination.</span></div><div class=\"ps3119 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The residual value, useful life, and methods of depreciation of property, plant, and equipment are reviewed </span></div><div class=\"ps3120 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">at each financial year end and adjusted accordingly, if appropriate.</span></div><div class=\"ps9450 ss0\"><div class=\"ss177 ws0 ps1056\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:144pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:68.25pt\"></td></tr><tr style=\"height:24.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss693\"><div><div class=\"ps7445 ss692\"><span class=\"f charStyle-4979afbe ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9398 ss635\"><div><div class=\"ps5182 ss339\"><span class=\"f charStyle-281247bf ps3893\">Leasehold <span class=\"f ps43\"> </span></span></div><div class=\"ps5183 ss339\"><span class=\"f charStyle-281247bf ps9397\">equipment</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9400 ss635\"><div><div class=\"ps5182 ss339\"><span class=\"f charStyle-281247bf ps9399\">Warehouse <span class=\"f ps43\"> </span></span></div><div class=\"ps5183 ss339\"><span class=\"f charStyle-281247bf ps6498\">facilities</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9402 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-281247bf ps9401\">Office space<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps1976 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-281247bf ps6084\">Total<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps1978 ss693\"><div><div class=\"ps5618 ss692\"><span class=\"f charStyle-b07b4361 ps42\">Cost 2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps7522 ss693\"><div><div class=\"ps2693 ss692\"><span class=\"f charStyle-1bac868e ps633\">Beginning of financial year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9403 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9404 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9405 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:33.02pt\"></span></span><span class=\"ps8315\">13,324</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9406 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:33.02pt\"></span></span><span class=\"ps8315\">13,324</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps7526 ss693\"><div><div class=\"ps2693 ss692\"><span class=\"f charStyle-1bac868e ps633\">Additions<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9407 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9408 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9410 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.87pt\"></span></span><span class=\"ps9409\">3,894</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9411 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.87pt\"></span></span><span class=\"ps9409\">3,894</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps2297 ss693\"><div><div class=\"ps2693 ss692\"><span class=\"f charStyle-1bac868e ps633\">Disposals<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9412 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9413 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9414 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9415 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps495 ss693\"><div><div class=\"ps2693 ss692\"><span class=\"f charStyle-1bac868e ps633\">Exchange differences<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9416 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9417 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9418 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9419 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps1043 ss693\"><div><div class=\"ps2693 ss692\"><span class=\"f charStyle-23b55a92 ps42\">31 December 2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9420 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9421 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9423 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:30.94pt\"></span></span><span class=\"ps9422\">17,218</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9424 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:30.94pt\"></span></span><span class=\"ps9422\">17,218</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps66 ss693\"><div><div class=\"ps2693 ss692\"><span class=\"f charStyle-b07b4361 ps42\">Accumulated depreciation<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5702 ss693\"><div><div class=\"ps2693 ss692\"><span class=\"f charStyle-1bac868e ps633\">Beginning of financial year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9425 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9426 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9427 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.87pt\"></span></span><span class=\"ps9409\">2,987</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9428 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.87pt\"></span></span><span class=\"ps9409\">2,987</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5540 ss693\"><div><div class=\"ps2693 ss692\"><span class=\"f charStyle-1bac868e ps633\">Depreciation charge<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9429 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9430 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9431 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.87pt\"></span></span><span class=\"ps9409\">1,633</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9432 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.87pt\"></span></span><span class=\"ps9409\">1,633</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps4003 ss693\"><div><div class=\"ps2693 ss692\"><span class=\"f charStyle-1bac868e ps633\">Disposals<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9433 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9434 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9435 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9436 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps6168 ss693\"><div><div class=\"ps2693 ss692\"><span class=\"f charStyle-1bac868e ps633\">Exchange differences<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9437 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9438 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6174 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9439 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps3780 ss693\"><div><div class=\"ps2693 ss692\"><span class=\"f charStyle-23b55a92 ps42\">31 December 2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9440 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9441 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9443 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.11pt\"></span></span><span class=\"ps9442\">4,620</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9444 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.11pt\"></span></span><span class=\"ps9442\">4,620</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9445 ss693\"><div><div class=\"ps2693 ss692\"><span class=\"f charStyle-b07b4361 ps42\">Carrying amount<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9446 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9447 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9448 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:30.94pt\"></span></span><span class=\"ps9422\">12,598</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9449 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:30.94pt\"></span></span><span class=\"ps9422\">12,598</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7498 ss0\"><div class=\"ss177 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:150pt\"></td><td style=\"padding:0;width:66.75pt\"></td><td style=\"padding:0;width:66.75pt\"></td><td style=\"padding:0;width:66.75pt\"></td><td style=\"padding:0;width:66.75pt\"></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss694\"><div><div class=\"ps9452 ss398\"><span class=\"f charStyle-4979afbe ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5172 ss696\"><div><div class=\"ps4321 ss695\"><span class=\"f charStyle-281247bf ps4460\">Leasehold <span class=\"f ps43\"> </span></span></div><div class=\"ps4323 ss695\"><span class=\"f charStyle-281247bf ps9453\">equipment</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9456 ss696\"><div><div class=\"ps4321 ss695\"><span class=\"f charStyle-281247bf ps9454\">Warehouse <span class=\"f ps43\"> </span></span></div><div class=\"ps4323 ss695\"><span class=\"f charStyle-281247bf ps9455\">facilities</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9458 ss696\"><div><div class=\"ps2173 ss695\"><span class=\"f charStyle-281247bf ps9457\">Office space<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps3688 ss696\"><div><div class=\"ps2173 ss695\"><span class=\"f charStyle-281247bf ps9459\">Total<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps3692 ss401\"><div><div class=\"ps5618 ss398\"><span class=\"f charStyle-b07b4361 ps42\">Cost 2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps9460 ss401\"><div><div class=\"ps2693 ss398\"><span class=\"f charStyle-1bac868e ps633\">Beginning of financial year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9462 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9461\">464</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9463 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9461\">409</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9465 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.37pt\"></span></span><span class=\"ps9464\">2,261</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9466 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.37pt\"></span></span><span class=\"ps9464\">3,134</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps9467 ss401\"><div><div class=\"ps2693 ss398\"><span class=\"f charStyle-1bac868e ps633\">Acquisition of businesses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9469 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9468\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9470 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9468\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9472 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:31.52pt\"></span></span><span class=\"ps9471\">10,864</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9473 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:31.52pt\"></span></span><span class=\"ps9471\">10,864</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps9474 ss401\"><div><div class=\"ps2693 ss398\"><span class=\"f charStyle-1bac868e ps633\">Exchange differences<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9475 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9468\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9477 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.02pt\"></span></span><span class=\"ps9476\">20</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9478 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9461\">199</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9479 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9461\">219</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9480 ss401\"><div><div class=\"ps2693 ss398\"><span class=\"f charStyle-23b55a92 ps42\">31 December 2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9481 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9468\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9482 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9468\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9484 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.44pt\"></span></span><span class=\"ps9483\">13,324</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9485 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.44pt\"></span></span><span class=\"ps9483\">13,324</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9486 ss401\"><div><div class=\"ps2693 ss398\"><span class=\"f charStyle-b07b4361 ps42\">Accumulated depreciation<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps9487 ss401\"><div><div class=\"ps2693 ss398\"><span class=\"f charStyle-1bac868e ps633\">Beginning of financial year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9488 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9461\">464</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9489 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.02pt\"></span></span><span class=\"ps9476\">24</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9490 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.37pt\"></span></span><span class=\"ps9464\">1,673</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9491 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.37pt\"></span></span><span class=\"ps9464\">2,161</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps9492 ss401\"><div><div class=\"ps2693 ss398\"><span class=\"f charStyle-1bac868e ps633\">Depreciation charge<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9493 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9468\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9494 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9461\">235</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9495 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.37pt\"></span></span><span class=\"ps9464\">1,144</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9496 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.37pt\"></span></span><span class=\"ps9464\">1,379</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps4626 ss401\"><div><div class=\"ps2693 ss398\"><span class=\"f charStyle-1bac868e ps633\">Exchange differences<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9497 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9468\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9498 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:52.87pt\"></span></span><span class=\"ps752\">6</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9499 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9461\">170</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9500 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9461\">176</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9501 ss401\"><div><div class=\"ps2693 ss398\"><span class=\"f charStyle-23b55a92 ps42\">31 December 2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9502 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9468\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9503 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9468\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9505 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.61pt\"></span></span><span class=\"ps9504\">2,987</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9506 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.61pt\"></span></span><span class=\"ps9504\">2,987</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps6618 ss401\"><div><div class=\"ps2693 ss398\"><span class=\"f charStyle-b07b4361 ps42\">Carrying amount<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9507 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9468\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9508 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9468\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9509 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.44pt\"></span></span><span class=\"ps9483\">10,337</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9510 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.44pt\"></span></span><span class=\"ps9483\">10,337</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7498 ss0\"><div class=\"ss177 ws0 ps1056\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:120pt\"></td><td style=\"padding:0;width:74.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss698\"><div><div class=\"ps9452 ss315\"><span class=\"f charStyle-4979afbe ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9514 ss699\"><div><div class=\"ps4321 ss164\"><span class=\"f charStyle-281247bf ps9512\">Leasehold <span class=\"f ps43\"> </span></span></div><div class=\"ps4323 ss164\"><span class=\"f charStyle-281247bf ps9513\">equipment</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7247 ss699\"><div><div class=\"ps4321 ss164\"><span class=\"f charStyle-281247bf ps6114\">Warehouse <span class=\"f ps43\"> </span></span></div><div class=\"ps4323 ss164\"><span class=\"f charStyle-281247bf ps9515\">facilities</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9517 ss699\"><div><div class=\"ps2173 ss164\"><span class=\"f charStyle-281247bf ps9516\">Office space<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2120 ss699\"><div><div class=\"ps2173 ss164\"><span class=\"f charStyle-281247bf ps6506\">Total<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps3692 ss700\"><div><div class=\"ps5618 ss315\"><span class=\"f charStyle-b07b4361 ps42\">Cost 2023<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps9460 ss700\"><div><div class=\"ps2693 ss315\"><span class=\"f charStyle-1bac868e ps633\">Beginning of financial year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9518 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">464</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9519 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9520 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6516\">1,681</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9521 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6516\">2,145</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps9467 ss700\"><div><div class=\"ps2693 ss315\"><span class=\"f charStyle-1bac868e ps633\">Acquisition of businesses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9522 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9523 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">421</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9524 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">612</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9525 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6516\">1,033</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps9474 ss700\"><div><div class=\"ps2693 ss315\"><span class=\"f charStyle-1bac868e ps633\">Exchange differences<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps9527 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.24pt\"></span></span><span class=\"ps9526\">(12)</span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:24.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9480 ss700\"><div><div class=\"ps2693 ss315\"><span class=\"f charStyle-23b55a92 ps42\">31 December 2023<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9528 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8812\">464</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9529 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8812\">409</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9530 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.11pt\"></span></span><span class=\"ps6623\">2,261</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9531 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.11pt\"></span></span><span class=\"ps6623\">3,134</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9486 ss700\"><div><div class=\"ps2693 ss315\"><span class=\"f charStyle-b07b4361 ps42\">Accumulated depreciation<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps9487 ss700\"><div><div class=\"ps2693 ss315\"><span class=\"f charStyle-1bac868e ps633\">Beginning of financial year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9532 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">381</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9533 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9534 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6516\">1,477</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9535 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6516\">1,858</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps9492 ss700\"><div><div class=\"ps2693 ss315\"><span class=\"f charStyle-1bac868e ps633\">Depreciation charge<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9536 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.52pt\"></span></span><span class=\"ps6646\">83</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9537 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.52pt\"></span></span><span class=\"ps6646\">30</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9538 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">221</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9539 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">334</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps4626 ss700\"><div><div class=\"ps2693 ss315\"><span class=\"f charStyle-1bac868e ps633\">Exchange differences<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps9541 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:54.95pt\"></span></span><span class=\"ps9540\">(6)</span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:24.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9501 ss700\"><div><div class=\"ps2693 ss315\"><span class=\"f charStyle-23b55a92 ps42\">31 December 2023<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9542 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8812\">464</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9544 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:54.88pt\"></span></span><span class=\"ps9543\">24</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9545 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.11pt\"></span></span><span class=\"ps6623\">1,673</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9546 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.11pt\"></span></span><span class=\"ps6623\">2,161</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps6618 ss700\"><div><div class=\"ps2693 ss315\"><span class=\"f charStyle-b07b4361 ps42\">Carrying amount<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9547 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9548 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8812\">385</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9549 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8812\">588</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9550 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8812\">973</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7498 ss0\"><div class=\"ss194 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:191.25pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss702\"><div><div class=\"ps9452 ss701\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9551 ss703\"><div><div class=\"ps6213 ss298\"><span class=\"f charStyle-281247bf ps3727\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9552 ss703\"><div><div class=\"ps6213 ss298\"><span class=\"f charStyle-054ead99 ps3727\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5299 ss703\"><div><div class=\"ps6213 ss298\"><span class=\"f charStyle-054ead99 ps3727\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps3692 ss702\"><div><div class=\"ps9553 ss701\"><span class=\"f charStyle-1bac868e ps633\">Lease liabilities at 1 January (current and <span class=\"f ps43\"> </span></span></div><div class=\"ps6213 ss701\"><span class=\"f charStyle-1bac868e ps633\">non-current lease)</span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9554 ss703\"><div><div class=\"ps6213 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7253\">10,971</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9556 ss703\"><div><div class=\"ps6213 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">993</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9557 ss703\"><div><div class=\"ps6213 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">279</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps2154 ss704\"><div><div class=\"ps4278 ss701\"><span class=\"f charStyle-1bac868e ps633\">Acquisition of subsidiaries<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9558 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9559 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9560 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7271\">1,299</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps2158 ss704\"><div><div class=\"ps4278 ss701\"><span class=\"f charStyle-1bac868e ps633\">Additions during the year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9561 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7271\">4,640</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9562 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7253\">11,909</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9563 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps2072 ss704\"><div><div class=\"ps4278 ss701\"><span class=\"f charStyle-1bac868e ps633\">Exchange differences<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9564 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9566 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.27pt\"></span></span><span class=\"ps9565\">30</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9568 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.85pt\"></span></span><span class=\"ps9567\">(16)</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2166 ss704\"><div><div class=\"ps4278 ss701\"><span class=\"f charStyle-1bac868e ps633\">Repayment of lease obligations<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9570 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.2pt\"></span></span><span class=\"ps9569\">(2,072)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9571 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.2pt\"></span></span><span class=\"ps9569\">(1,961)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9573 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46pt\"></span></span><span class=\"ps9572\">(569)</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2001 ss704\"><div><div class=\"ps4278 ss701\"><span class=\"f charStyle-b07b4361 ps42\">Total lease liabilities at 31 December<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9574 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7284\">13,539</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9575 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7284\">10,971</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9577 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.46pt\"></span></span><span class=\"ps9576\">993</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8252 ss704\"><div><div class=\"ps4278 ss701\"><span class=\"f charStyle-b07b4361 ps42\">Current<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9579 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-23b55a92 ps9578\">1,057<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9580 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-b07b4361 ps9578\">1,274<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9582 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-b07b4361 ps9581\">601<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps7381 ss704\"><div><div class=\"ps4278 ss701\"><span class=\"f charStyle-b07b4361 ps42\">Non-current<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9584 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-23b55a92 ps9583\">12,482<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9585 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-b07b4361 ps9578\">9,697<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9586 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-b07b4361 ps9581\">392<span class=\"f ps43\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Accounting policies<span id=\"i5b93fa0e4eeb499581f0d02dbf58f2fb\"></span></span></div><div class=\"ps8664 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Right-of-Use Assets <span id=\"if3e7eb2c164547ba99ae198c39355d35\"></span></span></div><div class=\"ps8665 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The Group recognises a right-of-use asset and lease liability at the date on which the underlying asset is </span></div><div class=\"ps8666 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">made available for use. Right-of-use assets are measured at cost, which comprises the initial measurement </span></div><div class=\"ps8667 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">of the lease liability using an incremental borrowing rate adjusted for any lease payments made at or before </span></div><div class=\"ps8668 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">the commencement date and any lease incentives received. Any initial direct costs that would not have been </span></div><div class=\"ps8689 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">incurred if the lease had not been obtained are included in to the carrying amount of the right-of-use </span></div><div class=\"ps9618 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">assets.</span></div><div class=\"ps8671 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The right-of-use asset is subsequently measured at cost, less any accumulated depreciation and impairment </span></div><div class=\"ps8672 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">losses, and adjusted for any remeasurement of the lease liability.</span></div><div class=\"ps3191 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Right-of-use assets are depreciated on a straight-line basis over the lease term.</span></div><div class=\"ps9619 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Right-of-use assets are tested for impairment whenever there is objective evidence or an indication that </span></div><div class=\"ps9620 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">these assets may be impaired. For further information regarding impairment testing. please refer to Note 13.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-521": {
   "value": "<div class=\"ps7670 ss0\"><div class=\"ss615 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:200.25pt\"></td><td style=\"padding:0;width:53.25pt\"></td><td style=\"padding:0;width:53.25pt\"></td><td style=\"padding:0;width:53.25pt\"></td><td style=\"padding:0;width:53.25pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss610\"><div><div class=\"ps7604 ss318\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7606 ss611\"><div><div class=\"ps4431 ss225\"><span class=\"f charStyle-054ead99 ps7605\">Note<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7608 ss611\"><div><div class=\"ps4431 ss225\"><span class=\"f charStyle-281247bf ps7607\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7609 ss611\"><div><div class=\"ps4431 ss225\"><span class=\"f charStyle-054ead99 ps7607\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7610 ss611\"><div><div class=\"ps4431 ss225\"><span class=\"f charStyle-054ead99 ps7607\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:26.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps442 ss612\"><div><div class=\"ps3884 ss318\"><span class=\"f charStyle-b07b4361 ps42\">Cost of sales<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps2060 ss613\"><div><div class=\"ps751 ss318\"><span class=\"f charStyle-1bac868e ps633\">Right-of-use asset depreciation<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7611 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44 ps5189\">14<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7613 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.22pt\"></span></span><span class=\"ps7612\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7615 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.67pt\"></span></span><span class=\"ps7614\">235</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7617 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.52pt\"></span></span><span class=\"ps7616\">30</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps2129 ss613\"><div><div class=\"ps751 ss318\"><span class=\"f charStyle-1bac868e ps633\">Insurance<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7619 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">6,268</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7620 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">2,754</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7621 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">1,573</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps656 ss613\"><div><div class=\"ps751 ss318\"><span class=\"f charStyle-1bac868e ps633\">Vessel depreciation<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7622 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44 ps5189\">13<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7624 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:13.17pt\"></span></span><span class=\"ps7623\">104,042</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7626 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7625\">53,696</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7627 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7625\">22,484</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps6714 ss613\"><div><div class=\"ps751 ss318\"><span class=\"f charStyle-1bac868e ps633\">Impairment of property, plant and equipment<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7628 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44 ps5189\">13<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7629 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.22pt\"></span></span><span class=\"ps7612\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7630 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.22pt\"></span></span><span class=\"ps7612\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7631 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">5,000</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps7381 ss613\"><div><div class=\"ps751 ss318\"><span class=\"f charStyle-1bac868e ps633\">Seafarer payroll<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7632 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44 ps5204\">6<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7633 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7625\">50,088</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7634 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7625\">32,285</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7635 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7625\">15,921</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps1826 ss613\"><div><div class=\"ps751 ss318\"><span class=\"f charStyle-1bac868e ps633\">Fuel and oil<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7636 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">7,928</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7637 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">2,976</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7638 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.67pt\"></span></span><span class=\"ps7614\">711</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps7639 ss613\"><div><div class=\"ps751 ss318\"><span class=\"f charStyle-1bac868e ps633\">Maintenance<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7640 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7625\">17,878</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7641 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">7,886</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7642 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">5,121</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps4620 ss613\"><div><div class=\"ps751 ss318\"><span class=\"f charStyle-1bac868e ps633\">Messing costs<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7643 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">5,270</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7644 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">2,948</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7645 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">1,448</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps6432 ss613\"><div><div class=\"ps751 ss318\"><span class=\"f charStyle-1bac868e ps633\">Seafarer travel<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7646 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7625\">11,634</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7647 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">7,110</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7648 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">2,835</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps7649 ss613\"><div><div class=\"ps751 ss318\"><span class=\"f charStyle-1bac868e ps633\">Specific charter costs<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7650 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7625\">30,512</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7651 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7625\">10,776</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7652 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">4,052</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps7653 ss613\"><div><div class=\"ps751 ss318\"><span class=\"f charStyle-1bac868e ps633\">Utilities<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7654 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">1,720</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7655 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">1,308</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7656 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.67pt\"></span></span><span class=\"ps7614\">389</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps5334 ss613\"><div><div class=\"ps751 ss318\"><span class=\"f charStyle-1bac868e ps633\">Other operating expenses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7657 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">1,334</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7658 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7618\">2,254</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7659 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.67pt\"></span></span><span class=\"ps7614\">294</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps7660 ss613\"><div><div class=\"ps751 ss318\"><span class=\"f charStyle-1bac868e ps633\">Tonnage tax<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7661 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.52pt\"></span></span><span class=\"ps7616\">81</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7662 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.22pt\"></span></span><span class=\"ps7612\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7663 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.22pt\"></span></span><span class=\"ps7612\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7664 ss613\"><div><div class=\"ps751 ss318\"><span class=\"f charStyle-b07b4361 ps42\">Total cost of sales<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7666 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:10.77pt\"></span></span><span class=\"ps7665\">236,755</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7667 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:10.77pt\"></span></span><span class=\"ps7665\">124,228</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7669 ss614\"><div><div class=\"ps751 ss225\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:15.94pt\"></span></span><span class=\"ps7668\">59,858</span></span></div></div></div></td></tr></tbody></table></div></div></div><div><div id=\"i60a9312555114c61b3ebee7078e135c5_2278\" style=\"position:absolute;top:42.52pt\"></div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 28</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Commitments and Pledges<span id=\"i9559c362fa7445d2813ba504bfe1d578\"></span></span></div><div class=\"ps7781 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Lease commitments<span id=\"ic1943004030a4b58bd199d4476407e94\"></span></span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The future minimum lease payables under non-cancellable low value and short-term leases contracted for </span></div><div class=\"ps7146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">at the balance sheet date but not recognised as liabilities are as follows:</span></div><div class=\"ps11184 ss0\"><div class=\"ss177 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:147pt\"></td><td style=\"padding:0;width:90pt\"></td><td style=\"padding:0;width:90pt\"></td><td style=\"padding:0;width:90pt\"></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss805\"><div><div class=\"ps7199 ss671\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8874 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-281247bf ps11171\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7200 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-054ead99 ps11171\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10630 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-054ead99 ps11171\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2567 ss805\"><div><div class=\"ps2564 ss671\"><span class=\"f charStyle-1bac868e ps633\">Not later than one year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11173 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:54.77pt\"></span></span><span class=\"ps11172\">16,483</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11174 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:66.42pt\"></span></span><span class=\"ps7964\">117</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11176 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:59.62pt\"></span></span><span class=\"ps11175\">1,090</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps1984 ss805\"><div><div class=\"ps2564 ss671\"><span class=\"f charStyle-1bac868e ps633\">Between one and five years<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11177 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:66.42pt\"></span></span><span class=\"ps7964\">229</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7203 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:66.42pt\"></span></span><span class=\"ps7964\">219</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11178 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:59.62pt\"></span></span><span class=\"ps11175\">4,984</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11180 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:52.69pt\"></span></span><span class=\"ps11179\">16,712</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7206 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:65.46pt\"></span></span><span class=\"ps11181\">336</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11183 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:57.86pt\"></span></span><span class=\"ps11182\">6,074</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps1004 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">As of 31 December 2025, the Company\u2019s lease commitments included the lease of third-party vessels </span></div><div class=\"ps3567 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">related to T&amp;I activities.</span></div><div class=\"ps3569 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">As of 31 December 2023, the Company\u2019s lease commitments included the tenure of the new headquarters. </span></div><div class=\"ps3570 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">These commitments were reflected on the balance sheet starting in Q1 2024 as 'Right-of-Use Assets' and </span></div><div class=\"ps3563 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">'Lease Liabilities' in accordance with IFRS 16. </span></div><div class=\"ps7168 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The Group has issued performance and payment guarantees through its banking partners in favour of </span></div><div class=\"ps7169 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">customers and suppliers in connection with offshore wind installation projects. At 31 December 2025, </span></div><div class=\"ps7171 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">outstanding guarantees totalled EUR </span><span class=\"f charStyle-c1b8f9f6 ps11186\">150\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps11187\">. The guarantees relate to the Group\u2019s contractual </span></div><div class=\"ps7172 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">performance and payment obligations. No provision has been recognised, as management assesses that an </span></div><div class=\"ps7173 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">outflow of resources is not probable. The Group would be required to reimburse the issuing bank should </span></div><div class=\"ps7174 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">any guarantee be called.</span></div><div class=\"ps11188 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Pledge of Fixed Assets<span id=\"i11e388798bec455fa903297668fa64c6\"></span></span></div><div class=\"ps6923 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The Green Corporate Facility detailed in </span><span class=\"f charStyle-c1b8f9f6 ps11189\">Note 25</span><span class=\"f charStyle-c1b8f9f6 ps11190\"> is secured by, inter alia, a first priority mortgage over the </span></div><div class=\"ps6926 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Wind Orca, Wind Osprey, Wind Scylla and Wind Zaratan Vessels (</span><span class=\"f charStyle-c1b8f9f6 ps11191\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps11192\"> </span><span class=\"f charStyle-c1b8f9f6 ps11193\">603</span><span class=\"f charStyle-c1b8f9f6 ps11194\"> million</span><span class=\"f charStyle-c1b8f9f6 ps11195\"> carrying amount, see </span><span class=\"f charStyle-c1b8f9f6 ps11196\">Note </span></div><div class=\"ps2785 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">13</span><span class=\"f charStyle-c1b8f9f6 ps11197\">). In addition, the facility is secured by a first priority assignment of the earnings of the vessel-owning </span></div><div class=\"ps2786 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">entities, including certain change of control provisions which are similar to those included in the P-class </span></div><div class=\"ps2787 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Facility.</span></div><div class=\"ps7159 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The P-class Facility, detailed in </span><span class=\"f charStyle-c1b8f9f6 ps11198\">Note 25,</span><span class=\"f charStyle-c1b8f9f6 ps11199\"> is secured by a first priority mortgage over the P-class newbuild </span></div><div class=\"ps7160 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">vessels, first priority assignments of the insurances and earnings of the P-class newbuilds by Cadeler and the </span></div><div class=\"ps7162 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">two</span><span class=\"f charStyle-c1b8f9f6 ps11200\"> borrowers and contain customary financial and other covenants, including certain change of control </span></div><div class=\"ps2791 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">provisions. A change of control under the P-class Facility if any person or group of persons acting in concert </span></div><div class=\"ps2792 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">(other than Swire Pacific and the BW Group) legally and beneficially holds more than </span><span class=\"f charStyle-c1b8f9f6 ps11201\">25%</span><span class=\"f charStyle-c1b8f9f6 ps11202\"> of both the issued </span></div><div class=\"ps2793 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">and outstanding share capital and/or the issued and outstanding voting share capital of Cadeler A/S. In </span></div><div class=\"ps2794 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">addition, certain changes to the ownership structure further down in the Group will also trigger a change of </span></div><div class=\"ps2795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">control, including, among others, circumstances in which Wind Pace Ltd (formerly referred as to N1064 Ltd) </span></div><div class=\"ps2796 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">or Wind Peak Ltd (formerly referred as to N1063 Ltd) ceases to be a wholly owned (direct or indirect) </span></div><div class=\"ps2797 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">subsidiary of Cadeler.</span></div></div><div class=\"ps6992 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Commitments on newbuilds vessels:<span id=\"i6dd288598457476eb437b2d3725905c4\"></span></span></div><div class=\"ps11243 ss0\"><div class=\"ss809 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:192pt\"></td><td style=\"padding:0;width:60pt\"></td><td style=\"padding:0;width:60pt\"></td><td style=\"padding:0;width:60pt\"></td><td style=\"padding:0;width:60pt\"></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps40 ss807\"><div><div class=\"ps4278 ss557\"><span class=\"f charStyle-b07b4361 ps42\">As of 31 December 2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps4283 ss808\"><div><div class=\"ps7199 ss557\"><span class=\"f charStyle-64a4cf84 ps42\">Millions<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11208 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-054ead99 ps11207\">P-Class<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11210 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-054ead99 ps11209\">M-Class<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11212 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-054ead99 ps11211\">A-Class<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11214 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-281247bf ps11213\">Total<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11114 ss808\"><div><div class=\"ps2564 ss557\"><span class=\"f charStyle-1bac868e ps633\">Contract amount in EUR<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11216 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">220</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11217 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10579\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11218 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">299</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11219 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">519</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7526 ss808\"><div><div class=\"ps2564 ss557\"><span class=\"f charStyle-1bac868e ps633\">Contract amount in USD<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11220 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">390</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11221 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">655</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11222 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">794</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11223 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10565\">1,839</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5953 ss808\"><div><div class=\"ps2564 ss557\"><span class=\"f charStyle-2b5af115 ps42\">Total Contract amount translated to EUR<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11224 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">573</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11225 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">600</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11226 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">981</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11227 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10565\">2,154</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"padding:0\"><div class=\"ps11228 ss808\"><div><div class=\"ps2564 ss557\"><span class=\"f charStyle-1bac868e ps633\">Commitment amount in EUR<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11229 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10579\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11230 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10579\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11232 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.27pt\"></span></span><span class=\"ps11231\">40</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps11233 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.27pt\"></span></span><span class=\"ps11231\">40</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11234 ss808\"><div><div class=\"ps2564 ss557\"><span class=\"f charStyle-1bac868e ps633\">Commitment amount in USD<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11235 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10579\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11236 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10579\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11237 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">496</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11238 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">496</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9008 ss808\"><div><div class=\"ps2564 ss557\"><span class=\"f charStyle-2b5af115 ps42\">Remaining commitment translated to EUR<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11239 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10579\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11240 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10579\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11241 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">462</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11242 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">462</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps11245 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Maturity of total payments are disclosed in </span><span class=\"f charStyle-c1b8f9f6 ps11244\">Note 23.</span></div><div class=\"ps11246 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">P-Class vessels <span id=\"i39739276062348009b57f75bf4f64d90\"></span></span></div><div class=\"ps11249 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Since 30 June 2021, the Company had a contract with COSCO to build </span><span class=\"f charStyle-c1b8f9f6 ps11247\">two</span><span class=\"f charStyle-c1b8f9f6 ps11248\"> new P-class WTIVs. On 14 August </span></div><div class=\"ps11251 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">2024, Wind Peak was delivered and the final instalments were paid upon delivery. </span><span class=\"f charStyle-c1b8f9f6 ps11250\">On 26 March 2025, Wind </span></div><div class=\"ps11252 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Pace was delivered with the final instalments also paid upon delivery.</span></div><div class=\"ps6992 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">A-class vessels<span id=\"i54bb13ecdc2d4428ae4897f8f64166da\"></span></span></div><div class=\"ps11257 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">On 9 May 2022 and 22 November 2022, the Company entered into contracts with COSCO to build a total of </span></div><div class=\"ps11258 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">two</span><span class=\"f charStyle-c1b8f9f6 ps11200\"> new A-class FIVs. In May 2024, the Company entered into an additional contract with COSCO to build </span></div><div class=\"ps11259 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">the third A-class FIV. On 29 September 2025, Wind Ally was delivered, with the final instalments paid upon </span></div><div class=\"ps11260 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">delivery.</span></div><div class=\"ps8867 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The total contract value for the </span><span class=\"f charStyle-c1b8f9f6 ps11261\">three</span><span class=\"f charStyle-c1b8f9f6 ps11262\"> vessels are approximately </span><span class=\"f charStyle-c1b8f9f6 ps11263\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps11264\"> </span><span class=\"f charStyle-c1b8f9f6 ps11265\">1\u00a0billion</span><span class=\"f charStyle-c1b8f9f6 ps11266\">, of which approximately </span><span class=\"f charStyle-c1b8f9f6 ps11267\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps6903\"> </span></div><div class=\"ps11279 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">167\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps11268\"> was paid in 2022, </span><span class=\"f charStyle-c1b8f9f6 ps11269\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps11270\"> </span><span class=\"f charStyle-c1b8f9f6 ps11271\">94\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps11272\"> was paid in 2024 and </span><span class=\"f charStyle-c1b8f9f6 ps11273\">EUR</span><span class=\"f charStyle-58d8bcbe ps11274\"> </span><span class=\"f charStyle-c1b8f9f6 ps11275\">257\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps11276\"> was paid in </span><span class=\"f charStyle-c1b8f9f6 ps11277\">2025</span><span class=\"f charStyle-c1b8f9f6 ps11278\">. The </span></div><div class=\"ps11280 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">remaining amounts are due in 2026 and 2027 with expected deliveries in Q3 2026 and Q2 2027, </span></div><div class=\"ps11281 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">respectively.</span></div><div class=\"ps11288 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Of the total contract value, USD </span><span class=\"f charStyle-c1b8f9f6 ps11282\">794 million</span><span class=\"f charStyle-c1b8f9f6 ps11283\"> is payable or has been paid in USD and </span><span class=\"f charStyle-c1b8f9f6 ps11284\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps11285\"> </span><span class=\"f charStyle-c1b8f9f6 ps11286\">299 million</span><span class=\"f charStyle-c1b8f9f6 ps11287\"> is </span></div><div class=\"ps11291 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">payable or has been paid in </span><span class=\"f charStyle-c1b8f9f6 ps11289\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps11290\">. </span></div><div class=\"ps11292 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">M-Class vessels<span id=\"i68e4397ac40244a994a178878999535a\"></span></span></div><div class=\"ps11293 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">As a result of the business combination with Eneti, the Company had a contract with Hanwha for the </span></div><div class=\"ps11296 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">construction of </span><span class=\"f charStyle-c1b8f9f6 ps11294\">two</span><span class=\"f charStyle-c1b8f9f6 ps11295\"> next-generation offshore WTIVs. </span></div><div class=\"ps11298 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">On 31 January 2025, Wind Maker was delivered and the final instalments were paid upon delivery. </span><span class=\"f charStyle-c1b8f9f6 ps11297\">On 28 </span></div><div class=\"ps11299 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">November 2025, Wind Mover was delivered with the final instalments also paid upon delivery.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInsuranceContractsExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-523": {
   "value": "<div class=\"ps7670 ss0\"><div class=\"ss119 ws0 ps2915\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:189pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss617\"><div><div class=\"ps750 ss616\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7672 ss475\"><div><div class=\"ps44 ss337\"><span class=\"f charStyle-054ead99 ps6301\">Note<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6193 ss475\"><div><div class=\"ps44 ss337\"><span class=\"f charStyle-281247bf ps6302\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7673 ss475\"><div><div class=\"ps44 ss337\"><span class=\"f charStyle-054ead99 ps6302\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6040 ss475\"><div><div class=\"ps44 ss337\"><span class=\"f charStyle-054ead99 ps6302\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps46 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-b07b4361 ps42\">Administrative expenses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps634 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-1bac868e ps633\">Depreciation and amortisation<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7678 ss619\"><div><div class=\"ps7675 ss337\"><span class=\"f charStyle-e5ec5c44 ps7674\">\u00a012\u00a0,\u00a013\u00a0,\u00a014<span class=\"f ps43\"> </span></span></div><div class=\"ps7677 ss337\"><span class=\"f charStyle-e5ec5c44 ps7676\">\u00a0</span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7679 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">3,549</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7680 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">2,522</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7681 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6318\">534</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5266 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-1bac868e ps633\">Employee compensation<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7683 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44 ps7682\">6<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7684 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6307\">46,282</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7685 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6307\">33,132</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7686 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6307\">18,889</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps2072 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-1bac868e ps633\">Repair and maintenance expenses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7687 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">3,449</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7688 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">3,020</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7689 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">1,123</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps770 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-1bac868e ps633\">Legal and professional fees<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7690 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">9,087</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7691 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">7,576</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7692 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">2,122</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5151 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-1bac868e ps633\">Transaction costs<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7693 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6333\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7694 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6333\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7695 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">7,707</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps7696 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-1bac868e ps633\">Rental expenses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7697 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">2,484</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7698 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">1,757</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7699 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6318\">751</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps64 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-1bac868e ps633\">Travel expense<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps6417 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">2,393</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7700 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">1,988</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7701 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6318\">985</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps7702 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-1bac868e ps633\">Marketing and entertainment expenses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7703 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6318\">968</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7704 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">1,283</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7705 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6318\">602</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5702 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-1bac868e ps633\">Other expenses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7706 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">6,414</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7707 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">5,823</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7708 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">1,745</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5998 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-b07b4361 ps42\">Total administrative expenses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7709 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7387\">74,626</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7710 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7387\">57,101</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7711 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7387\">34,458</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps2438 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">Transaction costs in 2023 include all costs related to the business combination with Eneti, such as advisory, </span></div><div class=\"ps2439 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">legal and consulting fees, which are included in administrative expenses.</span></div><div><div id=\"i60a9312555114c61b3ebee7078e135c5_488\" style=\"position:absolute;top:42.52pt\"></div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 6</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Employee Compensation<span id=\"i8d8ad33b79984ae59384330ee8f2651b\"></span></span></div><div class=\"ps7781 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Onshore - presented within administrative expenses<span id=\"ie7fc78a689484c6b8e5f52ffcbd5013b\"></span></span></div><div class=\"ps7809 ss0\"><div class=\"ss615 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:194.25pt\"></td><td style=\"padding:0;width:54.75pt\"></td><td style=\"padding:0;width:54.75pt\"></td><td style=\"padding:0;width:54.75pt\"></td><td style=\"padding:0;width:54.75pt\"></td></tr><tr style=\"height:12.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss621\"><div><div class=\"ps6268 ss580\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7247 ss470\"><div><div class=\"ps5116 ss454\"><span class=\"f charStyle-054ead99 ps7782\">Note<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7783 ss470\"><div><div class=\"ps5116 ss454\"><span class=\"f charStyle-281247bf ps4635\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7784 ss470\"><div><div class=\"ps5116 ss454\"><span class=\"f charStyle-054ead99 ps4635\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6305 ss470\"><div><div class=\"ps5116 ss454\"><span class=\"f charStyle-054ead99 ps4635\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4675 ss622\"><div><div class=\"ps2564 ss580\"><span class=\"f charStyle-1bac868e ps633\">Wages and Salaries<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7786 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.52pt\"></span></span><span class=\"ps7785\">37,322</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5127 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.52pt\"></span></span><span class=\"ps7785\">29,340</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7787 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.52pt\"></span></span><span class=\"ps7785\">16,957</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"padding:0\"><div class=\"ps6208 ss622\"><div><div class=\"ps7201 ss580\"><span class=\"f charStyle-1bac868e ps633\">Employer's contribution to defined <span class=\"f ps43\"> </span></span></div><div class=\"ps7202 ss580\"><span class=\"f charStyle-1bac868e ps633\">contribution plans</span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7789 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.37pt\"></span></span><span class=\"ps7788\">3,765</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7790 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.37pt\"></span></span><span class=\"ps7788\">1,635</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6319 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7791\">847</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"padding:0\"><div class=\"ps7792 ss622\"><div><div class=\"ps2564 ss580\"><span class=\"f charStyle-1bac868e ps633\">Share based payment expense<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7794 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-e5ec5c44 ps7793\">7<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7795 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.37pt\"></span></span><span class=\"ps7788\">2,071</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7796 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.37pt\"></span></span><span class=\"ps7788\">1,662</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7797 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.37pt\"></span></span><span class=\"ps7788\">1,134</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7798 ss622\"><div><div class=\"ps2564 ss580\"><span class=\"f charStyle-1bac868e ps633\">Other short-term benefits<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7799 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.37pt\"></span></span><span class=\"ps7788\">3,124</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7800 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7791\">495</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7801 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7791\">611</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2201 ss622\"><div><div class=\"ps2564 ss580\"><span class=\"f charStyle-b07b4361 ps42\">Total onshore employee compensation<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7803 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:17.44pt\"></span></span><span class=\"ps7802\">46,282</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7804 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:17.44pt\"></span></span><span class=\"ps7802\">33,132</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7805 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:17.44pt\"></span></span><span class=\"ps7802\">19,549</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps6295 ss622\"><div><div class=\"ps2564 ss580\"><span class=\"f charStyle-1bac868e ps633\">Average number of employees<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7806 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7791\">307</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7807 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7791\">242</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7808 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7791\">113</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7814 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In 31 December 2023, employee compensation includes </span><span class=\"f charStyle-c1b8f9f6 ps7810\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7811\"> </span><span class=\"f charStyle-c1b8f9f6 ps7812\">660\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7813\"> related to bonus paid, included </span></div><div class=\"ps7818 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">in transaction costs. For further information refer to </span><span class=\"f charStyle-c1b8f9f6 ps7815\">Note 4</span><span class=\"f charStyle-c1b8f9f6 ps7816\">, Administrative Expenses.</span><span class=\"f charStyle-c1b8f9f6 ps7817\"> </span></div><div class=\"ps7819 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Accounting policies</span></div><div class=\"ps7820 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Employee benefits are recognised as an expense, unless the cost qualifies for capitalisation as an asset.</span></div><div class=\"ps5274 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Employee compensation includes wages and salaries, including compensated absence and pensions, as </span></div><div class=\"ps5275 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">well as other social security contributions made to the entity\u2019s employees or public and government </span></div><div class=\"ps5276 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">authoriti</span><span class=\"f charStyle-c1b8f9f6 ps7821\">es. </span></div><div class=\"ps7781 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps2468\">Offshore - presented within cost of sales<span id=\"id2cb925291854c169160ab294622a4c8\"></span></span></div><div class=\"ps7809 ss0\"><div class=\"ss119 ws0 ps2915\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:228pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:50.25pt\"></td><td style=\"padding:0;width:50.25pt\"></td><td style=\"padding:0;width:50.25pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss428\"><div><div class=\"ps7604 ss427\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7823 ss624\"><div><div class=\"ps4431 ss450\"><span class=\"f charStyle-054ead99 ps7822\">Note<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7824 ss57\"><div><div class=\"ps4431 ss51\"><span class=\"f charStyle-281247bf ps6781\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7825 ss57\"><div><div class=\"ps4431 ss51\"><span class=\"f charStyle-054ead99 ps6781\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7826 ss57\"><div><div class=\"ps4431 ss51\"><span class=\"f charStyle-054ead99 ps6781\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps442 ss428\"><div><div class=\"ps438 ss427\"><span class=\"f charStyle-1bac868e ps633\">Wages and Salaries<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7828 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:15.02pt\"></span></span><span class=\"ps7827\">46,008</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7829 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:15.02pt\"></span></span><span class=\"ps7827\">30,043</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7830 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:15.02pt\"></span></span><span class=\"ps7827\">14,056</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps463 ss428\"><div><div class=\"ps438 ss427\"><span class=\"f charStyle-1bac868e ps633\">Employer's contribution to defined contribution plans<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7832 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7831\">3,557</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7833 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7831\">2,059</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7834 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7831\">1,124</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5507 ss428\"><div><div class=\"ps438 ss427\"><span class=\"f charStyle-1bac868e ps633\">Other short-term benefits<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7836 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7835\">523</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7837 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7835\">183</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7838 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7835\">741</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5516 ss428\"><div><div class=\"ps438 ss427\"><span class=\"f charStyle-b07b4361 ps42\">Total offshore employee compensation<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7840 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:12.94pt\"></span></span><span class=\"ps7839\">50,088</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7841 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:12.94pt\"></span></span><span class=\"ps7839\">32,285</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7842 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:12.94pt\"></span></span><span class=\"ps7839\">15,921</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5521 ss428\"><div><div class=\"ps438 ss427\"><span class=\"f charStyle-1bac868e ps633\">Average number of employees<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7843 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7835\">586</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7844 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7835\">364</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7845 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7835\">182</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7846 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps2468\">Total<span id=\"i99e227df99624d4e8e1fce758cf46cb6\"></span></span></div><div class=\"ps7870 ss0\"><div class=\"ss119 ws0 ps2915\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:228pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:50.25pt\"></td><td style=\"padding:0;width:50.25pt\"></td><td style=\"padding:0;width:50.25pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss625\"><div><div class=\"ps750 ss427\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7823 ss466\"><div><div class=\"ps44 ss450\"><span class=\"f charStyle-054ead99 ps7822\">Note<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7824 ss626\"><div><div class=\"ps44 ss51\"><span class=\"f charStyle-281247bf ps6781\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7825 ss626\"><div><div class=\"ps44 ss51\"><span class=\"f charStyle-054ead99 ps6781\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7826 ss626\"><div><div class=\"ps44 ss51\"><span class=\"f charStyle-054ead99 ps6781\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps46 ss428\"><div><div class=\"ps438 ss427\"><span class=\"f charStyle-1bac868e ps633\">Wages and Salaries<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7847 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:15.02pt\"></span></span><span class=\"ps7827\">83,330</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7848 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:15.02pt\"></span></span><span class=\"ps7827\">59,383</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7849 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:15.02pt\"></span></span><span class=\"ps7827\">31,013</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps634 ss428\"><div><div class=\"ps438 ss427\"><span class=\"f charStyle-1bac868e ps633\">Employer's contribution to defined contribution plans<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7850 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7831\">7,322</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7851 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7831\">3,694</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7852 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7831\">1,971</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5266 ss428\"><div><div class=\"ps438 ss427\"><span class=\"f charStyle-1bac868e ps633\">Share based payment expense<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7854 ss624\"><div><div class=\"ps438 ss450\"><span class=\"f charStyle-e5ec5c44 ps7853\">7<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7855 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7831\">2,071</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7856 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7831\">1,662</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7857 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7831\">1,134</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2072 ss428\"><div><div class=\"ps438 ss427\"><span class=\"f charStyle-1bac868e ps633\">Other short-term benefits<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7858 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7831\">3,647</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7859 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7835\">678</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7860 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7831\">1,352</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps770 ss428\"><div><div class=\"ps438 ss427\"><span class=\"f charStyle-b07b4361 ps42\">Total employee compensation<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7861 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:12.94pt\"></span></span><span class=\"ps7839\">96,370</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7862 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:12.94pt\"></span></span><span class=\"ps7839\">65,417</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7863 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:12.94pt\"></span></span><span class=\"ps7839\">35,470</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5151 ss428\"><div><div class=\"ps438 ss427\"><span class=\"f charStyle-1bac868e ps633\">Average number of full time employees<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7864 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7835\">893</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7865 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7835\">606</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7866 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7835\">295</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps7696 ss627\"><div><div class=\"ps2693 ss427\"><span class=\"f charStyle-cb69ec08 ps633\">Number of employees at the end of the reporting period<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7867 ss628\"><div><div class=\"ps2693 ss51\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7831\">1,073</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7868 ss628\"><div><div class=\"ps2693 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7835\">659</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7869 ss628\"><div><div class=\"ps2693 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7835\">570</span></span></div></div></div></td></tr></tbody></table></div></div></div></div><div class=\"ps7019 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Eneti employees, both onshore and offshore, joined the Group by the end of December 2023. Thus, the </span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">average number of full-time employees as of 2023 reflects the number of employees in Eneti divided by 12 </span></div><div class=\"ps7146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">months. Eneti had </span><span class=\"f charStyle-c1b8f9f6 ps7873\">99</span><span class=\"f charStyle-c1b8f9f6 ps7874\"> onshore full time employees and </span><span class=\"f charStyle-c1b8f9f6 ps7875\">176</span><span class=\"f charStyle-c1b8f9f6 ps7876\"> seafarers by the end of 2023.</span></div><div class=\"ps422 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Labour costs related to certain employees who are working on the management of the newbuilding </span></div><div class=\"ps423 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">process have been capitalised. These capita</span><span class=\"f charStyle-c1b8f9f6 ps7877\">lised costs amounted to</span><span class=\"f charStyle-c1b8f9f6 ps7878\"> </span><span class=\"f charStyle-c1b8f9f6 ps7879\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7880\"> </span><span class=\"f charStyle-c1b8f9f6 ps7881\">7.8</span><span class=\"f charStyle-c1b8f9f6 ps7882\"> m</span><span class=\"f charStyle-c1b8f9f6 ps7883\">illion</span><span class=\"f charStyle-c1b8f9f6 ps7884\"> in </span><span class=\"f charStyle-c1b8f9f6 ps7885\">2025</span><span class=\"f charStyle-c1b8f9f6 ps7886\">, </span><span class=\"f charStyle-c1b8f9f6 ps7887\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7888\"> </span><span class=\"f charStyle-c1b8f9f6 ps7889\">2.7\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7890\"> </span></div><div class=\"ps424 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">in </span><span class=\"f charStyle-c1b8f9f6 ps5047\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7891\"> and </span><span class=\"f charStyle-c1b8f9f6 ps7892\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7893\"> </span><span class=\"f charStyle-c1b8f9f6 ps7894\">1.1\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7895\"> in</span><span class=\"f charStyle-c1b8f9f6 ps7896\"> </span><span class=\"f charStyle-c1b8f9f6 ps7897\">2023</span><span class=\"f charStyle-c1b8f9f6 ps7898\"> and are recognised under assets under construction.</span></div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 7</span></div><div class=\"ps6906 ss0\" style=\"font-size:16pt\"><span class=\"f charStyle-940783b5 ps186\">Long Term Incentive <span id=\"i8f047e73114343e0ae923e24234b73ba\"></span></span><span class=\"f charStyle-940783b5 ps7928\">Programmes</span></div><div class=\"ps7168 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The following share-based long-term incentive programmes were in place as of </span><span class=\"f charStyle-c1b8f9f6 ps7929\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps7930\">:</span></div><div class=\"ps7935 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(i) In January 2022, the Executive Management and select employees were granted from </span><span class=\"f charStyle-c1b8f9f6 ps7931\">10,393</span><span class=\"f charStyle-c1b8f9f6 ps7932\"> to </span><span class=\"f charStyle-c1b8f9f6 ps7933\">55,430</span><span class=\"f charStyle-c1b8f9f6 ps7934\"> </span></div><div class=\"ps7936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Restricted Share Units (RSU) which fully vested and were issued in July 2024. The total fair value of the RSU </span></div><div class=\"ps7937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">allocation is calculated based on the Company's closing share price on Nasdaq Copenhagen A/S on the day </span></div><div class=\"ps7945 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">of grant, and the value is </span><span class=\"f charStyle-c1b8f9f6 ps7938\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7939\"> </span><span class=\"f charStyle-c1b8f9f6 ps7940\">394\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7941\"> </span><span class=\"f charStyle-c1b8f9f6 ps7942\">(</span><span class=\"f charStyle-c1b8f9f6 ps7943\">EUR3.3</span><span class=\"f charStyle-c1b8f9f6 ps7944\"> per RSU). As the RSUs fully vested in 2024, there was </span></div><div class=\"ps7955 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">no</span><span class=\"f charStyle-c1b8f9f6 ps7946\"> expense recognised in profit and loss in the current year (</span><span class=\"f charStyle-c1b8f9f6 ps7947\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7948\"> </span><span class=\"f charStyle-c1b8f9f6 ps7949\">53\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7950\"> in </span><span class=\"f charStyle-c1b8f9f6 ps7951\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7952\">; EUR </span><span class=\"f charStyle-c1b8f9f6 ps7953\">143\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7954\"> in </span></div><div class=\"ps7957 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">2023</span><span class=\"f charStyle-c1b8f9f6 ps7956\">).</span></div><div class=\"ps7962 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(ii) In January 2022, the Executive Management and select employees were granted from </span><span class=\"f charStyle-c1b8f9f6 ps7958\">10,393</span><span class=\"f charStyle-c1b8f9f6 ps7959\"> to </span><span class=\"f charStyle-c1b8f9f6 ps7960\">55,430</span><span class=\"f charStyle-c1b8f9f6 ps7961\"> </span></div><div class=\"ps7963 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Options in Cadeler shares, which fully vested in May 2024 and expire in April 2027. The strike price ranged </span></div><div class=\"ps7970 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">from </span><span class=\"f charStyle-c1b8f9f6 ps7964\">NOK36.02</span><span class=\"f charStyle-c1b8f9f6 ps7965\"> to </span><span class=\"f charStyle-c1b8f9f6 ps7966\">NOK38.42</span><span class=\"f charStyle-c1b8f9f6 ps7967\">, depending on the exercise period. The fair value of these options was </span><span class=\"f charStyle-c1b8f9f6 ps7968\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7969\"> </span></div><div class=\"ps7976 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">160\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7971\"> (</span><span class=\"f charStyle-c1b8f9f6 ps7972\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7973\"> </span><span class=\"f charStyle-c1b8f9f6 ps7974\">1.3</span><span class=\"f charStyle-c1b8f9f6 ps7975\"> per RSU) as determined at grant date using the Black-Scholes model. As these </span></div><div class=\"ps7981 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">options fully vested in 2024, there was </span><span class=\"f charStyle-c1b8f9f6 ps7977\">no</span><span class=\"f charStyle-c1b8f9f6 ps7978\"> expense recognised in profit and loss in the current year (</span><span class=\"f charStyle-c1b8f9f6 ps7979\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7980\"> </span></div><div class=\"ps7991 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">13\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7982\"> in </span><span class=\"f charStyle-c1b8f9f6 ps7983\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7984\">; </span><span class=\"f charStyle-c1b8f9f6 ps7985\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7986\"> </span><span class=\"f charStyle-c1b8f9f6 ps7987\">62\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7988\"> in </span><span class=\"f charStyle-c1b8f9f6 ps7989\">2023</span><span class=\"f charStyle-c1b8f9f6 ps7990\">). </span></div><div class=\"ps4157 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(iii) </span><span class=\"f charStyle-c1b8f9f6 ps7992\">In May 2022, the Executive Management and select employees were granted from </span><span class=\"f charStyle-c1b8f9f6 ps7993\">43,420</span><span class=\"f charStyle-c1b8f9f6 ps7994\"> to </span><span class=\"f charStyle-c1b8f9f6 ps1246\">221,719</span><span class=\"f charStyle-c1b8f9f6 ps7995\"> </span></div><div class=\"ps4158 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Options in Cadeler shares, which fully vested in May 2025 and expire in May 2028. The strike price is </span></div><div class=\"ps4159 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">NOK40.24</span><span class=\"f charStyle-c1b8f9f6 ps7996\"> and as of 31 December 2025, </span><span class=\"f charStyle-c1b8f9f6 ps7997\">no</span><span class=\"f charStyle-c1b8f9f6 ps7998\"> options have been exercised. The fair value of these options was </span></div><div class=\"ps4160 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">761\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7999\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8000\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8001\"> </span><span class=\"f charStyle-c1b8f9f6 ps8002\">1.3</span><span class=\"f charStyle-c1b8f9f6 ps8003\"> per RSU) as determined at grant date using the Black-Scholes model. The </span></div><div class=\"ps3405 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">expense recognised in profit and loss for the year amounts to EUR</span><span class=\"f charStyle-c1b8f9f6 ps8004\"> </span><span class=\"f charStyle-c1b8f9f6 ps8005\">173\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8006\"> (EUR </span><span class=\"f charStyle-c1b8f9f6 ps8007\">237\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8008\"> in </span></div><div class=\"ps3406 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">2024; </span><span class=\"f charStyle-c1b8f9f6 ps8009\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8010\"> </span><span class=\"f charStyle-c1b8f9f6 ps8011\">237\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8012\"> </span><span class=\"f charStyle-c1b8f9f6 ps8013\">in </span><span class=\"f charStyle-c1b8f9f6 ps8014\">2023</span><span class=\"f charStyle-c1b8f9f6 ps8015\">).</span><span class=\"f charStyle-c1b8f9f6 ps8016\"> </span><span class=\"f charStyle-c1b8f9f6 ps8017\">The average remaining contractual life for the options as per </span></div><div class=\"ps3407 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps8018\"> is </span><span class=\"f charStyle-c1b8f9f6 ps8019\">2.3 years</span><span class=\"f charStyle-c1b8f9f6 ps8020\">. The annualised volatility of the shares of </span><span class=\"f charStyle-c1b8f9f6 ps8021\">42.5%</span><span class=\"f charStyle-c1b8f9f6 ps8022\"> is based on the historical </span></div><div class=\"ps3408 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">volatility of the share price, annual risk-free interest rate of </span><span class=\"f charStyle-c1b8f9f6 ps8023\">2.8%</span><span class=\"f charStyle-c1b8f9f6 ps8024\">, dividend yield of </span><span class=\"f charStyle-c1b8f9f6 ps8025\">zero</span><span class=\"f charStyle-c1b8f9f6 ps8026\">, expected life until </span></div><div class=\"ps3409 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">expiration date and average share price of </span><span class=\"f charStyle-c1b8f9f6 ps8027\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8028\"> </span><span class=\"f charStyle-c1b8f9f6 ps8029\">3.7</span><span class=\"f charStyle-c1b8f9f6 ps8030\">.</span></div><div class=\"ps8035 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(iv) In January 2023, the Executive Management and select employees were granted from </span><span class=\"f charStyle-c1b8f9f6 ps8031\">19,760</span><span class=\"f charStyle-c1b8f9f6 ps8032\"> to </span><span class=\"f charStyle-c1b8f9f6 ps8033\">130,416</span><span class=\"f charStyle-c1b8f9f6 ps8034\"> </span></div><div class=\"ps3411 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">RSUs, which fully vested and were issued in July 2025.</span><span class=\"f charStyle-c1b8f9f6 ps8036\"> The fair value of the RSUs\u2019 are </span><span class=\"f charStyle-c1b8f9f6 ps8037\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8038\"> </span><span class=\"f charStyle-c1b8f9f6 ps8039\">1.2\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8040\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8041\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8042\"> </span><span class=\"f charStyle-c1b8f9f6 ps8043\">3.0</span><span class=\"f charStyle-c1b8f9f6 ps8044\"> </span></div><div class=\"ps8045 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">per RSU) as determined at grant date using the Black-Scholes model. The expense recognised in profit and </span></div><div class=\"ps8059 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">loss for the year amounts to EUR</span><span class=\"f charStyle-c1b8f9f6 ps8046\"> </span><span class=\"f charStyle-c1b8f9f6 ps8047\">234\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8048\"> </span><span class=\"f charStyle-c1b8f9f6 ps8049\">(</span><span class=\"f charStyle-c1b8f9f6 ps8050\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8051\"> </span><span class=\"f charStyle-c1b8f9f6 ps8052\">468\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8053\"> in </span><span class=\"f charStyle-c1b8f9f6 ps8054\">2024</span><span class=\"f charStyle-c1b8f9f6 ps8055\">, </span><span class=\"f charStyle-c1b8f9f6 ps8056\">EUR </span><span class=\"f charStyle-c1b8f9f6 ps8057\">498\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8058\"> in 2023).</span></div><div class=\"ps7019 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(v) In August 2023, the Executive Management and select employees </span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">were granted from </span><span class=\"f charStyle-c1b8f9f6 ps8064\">88,920</span><span class=\"f charStyle-c1b8f9f6 ps8065\"> to </span><span class=\"f charStyle-c1b8f9f6 ps8066\">385,320</span><span class=\"f charStyle-c1b8f9f6 ps8067\"> options in Cadeler shares which </span></div><div class=\"ps7146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">will vest in August 2026 and expire in August 2029. The strike price </span></div><div class=\"ps7149 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">will be </span><span class=\"f charStyle-c1b8f9f6 ps8068\">NOK45.49</span><span class=\"f charStyle-c1b8f9f6 ps8069\"> and vesting is conditional upon continued </span></div><div class=\"ps7564 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">employment at Cadeler. The fair value of these options is </span></div><div class=\"ps7565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">EUR2.2\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8070\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8071\">EUR1.8</span><span class=\"f charStyle-c1b8f9f6 ps8072\"> per option) as determined at grant date using </span></div><div class=\"ps6922 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the Black-Scholes model. The expense recognised in profit and loss </span></div><div class=\"ps6923 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">for the year amounts to EUR </span><span class=\"f charStyle-c1b8f9f6 ps8073\">500\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8074\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8075\">EUR419\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8076\"> in </span></div><div class=\"ps6926 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">2024</span><span class=\"f charStyle-c1b8f9f6 ps1129\">; </span><span class=\"f charStyle-c1b8f9f6 ps8009\">EUR250\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8077\"> in 2023). The average remaining contractual </span></div><div class=\"ps2785 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">life of the options as of </span><span class=\"f charStyle-c1b8f9f6 ps8078\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps8079\"> is </span><span class=\"f charStyle-c1b8f9f6 ps8080\">3.5 years</span><span class=\"f charStyle-c1b8f9f6 ps8081\">. The </span></div><div class=\"ps2786 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">annualised volatility of the shares of </span><span class=\"f charStyle-c1b8f9f6 ps8082\">61.0%</span><span class=\"f charStyle-c1b8f9f6 ps8083\"> is based on the historical </span></div><div class=\"ps2787 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">volatility of the share price, an annual risk-free interest rate of </span><span class=\"f charStyle-c1b8f9f6 ps8084\">2.68%</span><span class=\"f charStyle-c1b8f9f6 ps8085\">, </span></div><div class=\"ps2788 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">a dividend yield of </span><span class=\"f charStyle-c1b8f9f6 ps8086\">zero</span><span class=\"f charStyle-c1b8f9f6 ps8087\">, the expected life until expiration date and </span></div><div class=\"ps2789 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">average share price of </span><span class=\"f charStyle-c1b8f9f6 ps8088\">EUR3.7</span><span class=\"f charStyle-c1b8f9f6 ps8089\">.</span></div><div class=\"ps7162 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(vi) In May 2024, the Executive Management was granted a total of </span></div><div class=\"ps2791 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">193.011</span><span class=\"f charStyle-c1b8f9f6 ps8090\"> RSUs, which will vest at the end of May 2027. The RSUs\u2019 expire </span></div><div class=\"ps2792 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">at the end of May 2030 and are conditional upon conti</span><span class=\"f charStyle-c1b8f9f6 ps8091\">nued </span></div><div class=\"ps2793 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">employment at Cadeler. The fair value of the RSU\u2019s is </span><span class=\"f charStyle-c1b8f9f6 ps8092\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8093\"> </span><span class=\"f charStyle-c1b8f9f6 ps8094\">1.1\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8095\"> </span></div><div class=\"ps2794 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(</span><span class=\"f charStyle-c1b8f9f6 ps832\">EUR5.6</span><span class=\"f charStyle-c1b8f9f6 ps8096\"> per RSU) as determined at grant date using the Black-</span></div><div class=\"ps2795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Scholes model. The expense recognised in profit and loss for the year </span></div><div class=\"ps2796 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">amounts to </span><span class=\"f charStyle-c1b8f9f6 ps7400\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7401\"> </span><span class=\"f charStyle-c1b8f9f6 ps7402\">350\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8097\"> (EUR </span><span class=\"f charStyle-c1b8f9f6 ps8098\">206\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8099\"> in 2024)</span><span class=\"f charStyle-c1b8f9f6 ps8100\">. The </span></div><div class=\"ps2797 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">average remaining contractual life as of </span><span class=\"f charStyle-c1b8f9f6 ps8101\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps8102\"> is </span><span class=\"f charStyle-c1b8f9f6 ps8103\">4.4 </span></div><div class=\"ps2798 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">years</span><span class=\"f charStyle-c1b8f9f6 ps8104\">. The average share price used is </span><span class=\"f charStyle-c1b8f9f6 ps8105\">NOK64.2</span><span class=\"f charStyle-c1b8f9f6 ps8106\">. </span></div><div class=\"ps7019 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">(vii) In May 2024, the Executive Management and select employees </span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">were granted from </span><span class=\"f charStyle-c1b8f9f6 ps8108\">140,372</span><span class=\"f charStyle-c1b8f9f6 ps8109\"> to </span><span class=\"f charStyle-c1b8f9f6 ps8110\">245,651</span><span class=\"f charStyle-c1b8f9f6 ps8111\"> options in Cadeler shares, </span></div><div class=\"ps7146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">which will vest at the end of May 2027 and expire at the end of May </span></div><div class=\"ps7149 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">2030. The strike price will be </span><span class=\"f charStyle-c1b8f9f6 ps8112\">NOK74.32</span><span class=\"f charStyle-c1b8f9f6 ps8113\"> and vesting is conditional </span></div><div class=\"ps7564 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">up</span><span class=\"f charStyle-c1b8f9f6 ps8114\">on continued employment at Cadeler. The fair value of these </span></div><div class=\"ps7565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">options is </span><span class=\"f charStyle-c1b8f9f6 ps8115\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8116\"> </span><span class=\"f charStyle-c1b8f9f6 ps8117\">1.4\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8118\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8119\">EUR1.4</span><span class=\"f charStyle-c1b8f9f6 ps8120\"> per option) as determined at grant </span></div><div class=\"ps6922 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">date using the Black-Scholes model. The expense recognised in profit </span></div><div class=\"ps6923 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">and loss for the year amounts to EUR</span><span class=\"f charStyle-c1b8f9f6 ps8121\"> </span><span class=\"f charStyle-c1b8f9f6 ps8122\">450\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8123\"> (EUR </span></div><div class=\"ps6926 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">265\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8124\"> in 2024)</span><span class=\"f charStyle-c1b8f9f6 ps8125\">. The average remaining contractual life of the </span></div><div class=\"ps2785 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">options as of </span><span class=\"f charStyle-c1b8f9f6 ps8126\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps8127\"> is </span><span class=\"f charStyle-c1b8f9f6 ps8128\">4.4 years</span><span class=\"f charStyle-c1b8f9f6 ps8129\">. The annualised volatility </span></div><div class=\"ps2786 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">of the shares of </span><span class=\"f charStyle-c1b8f9f6 ps8130\">31.2%</span><span class=\"f charStyle-c1b8f9f6 ps8131\"> is based on the historical volatility of the share </span></div><div class=\"ps2787 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">price, annual risk-free interest rate of </span><span class=\"f charStyle-c1b8f9f6 ps8132\">3.63%</span><span class=\"f charStyle-c1b8f9f6 ps8133\">, dividend yield of </span><span class=\"f charStyle-c1b8f9f6 ps8134\">zero</span><span class=\"f charStyle-c1b8f9f6 ps8135\">, </span></div><div class=\"ps2788 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">expected life until expiration date, and average share price of </span></div><div class=\"ps2789 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">NOK64.2</span><span class=\"f charStyle-c1b8f9f6 ps8136\">.</span></div><div class=\"ps7162 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">(viii) In March 2025, the Executive Management and select employees </span></div><div class=\"ps2791 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">were granted from </span><span class=\"f charStyle-c1b8f9f6 ps8108\">42,115</span><span class=\"f charStyle-c1b8f9f6 ps8137\"> to </span><span class=\"f charStyle-c1b8f9f6 ps8138\">631,724</span><span class=\"f charStyle-c1b8f9f6 ps8139\"> options in Cadeler shares, which </span></div><div class=\"ps2792 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">will vest in March 2028 and expire in March 2031. The strike price will </span></div><div class=\"ps2793 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">be </span><span class=\"f charStyle-c1b8f9f6 ps8140\">NOK60.2</span><span class=\"f charStyle-c1b8f9f6 ps8141\"> and vesting is conditional upon continued employment </span></div><div class=\"ps2794 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">at Cadeler. The fair value of these options is </span><span class=\"f charStyle-c1b8f9f6 ps8142\">2\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8143\"> (EUR </span><span class=\"f charStyle-c1b8f9f6 ps8144\">1.4</span><span class=\"f charStyle-c1b8f9f6 ps8145\"> per </span></div><div class=\"ps2795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">option) as determined at grant date using the Black-Scholes model. </span></div><div class=\"ps2796 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">The expense recognized in profit and loss for the year amounts to </span></div><div class=\"ps2797 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps885\"> </span><span class=\"f charStyle-c1b8f9f6 ps886\">479\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8146\">. The average remaining contractual life of the </span></div><div class=\"ps2798 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">options as of </span><span class=\"f charStyle-c1b8f9f6 ps8126\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps8127\"> is </span><span class=\"f charStyle-c1b8f9f6 ps8128\">5.3 years</span><span class=\"f charStyle-c1b8f9f6 ps8147\">. The annualised volatility </span></div><div class=\"ps2799 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">of the shares is </span><span class=\"f charStyle-c1b8f9f6 ps8148\">31.66%</span><span class=\"f charStyle-c1b8f9f6 ps8149\"> based on historical volatility of the share price </span></div><div class=\"ps2800 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">price, annual risk-free interest rate of </span><span class=\"f charStyle-c1b8f9f6 ps8132\">3.93%</span><span class=\"f charStyle-c1b8f9f6 ps8133\">, a dividend yield of </span><span class=\"f charStyle-c1b8f9f6 ps8150\">zero</span><span class=\"f charStyle-c1b8f9f6 ps8151\">, </span></div><div class=\"ps2801 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">an expected life of </span><span class=\"f charStyle-c1b8f9f6 ps8152\">4 years</span><span class=\"f charStyle-c1b8f9f6 ps8153\"> from grant date and average share price </span></div><div class=\"ps8156 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">of </span><span class=\"f charStyle-c1b8f9f6 ps8154\">NOK52</span><span class=\"f charStyle-c1b8f9f6 ps8155\">. </span></div><div class=\"ps6993 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps918\">Accounting policies<span id=\"i3d9fd592568545fba7f9aaba92e4e114\"></span></span></div><div class=\"ps7555 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps918\">Share-based payments<span id=\"i77a129f43c404185bc9fa311eefc3b72\"></span></span></div><div class=\"ps8157 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Employees (including senior executives) of the Group receive </span></div><div class=\"ps3396 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">remuneration in the form of share-based payments, whereby </span></div><div class=\"ps272 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">employees render services as consideration for equity instruments </span></div><div class=\"ps8158 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">(equity-settled transactions).</span></div><div class=\"ps8159 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps918\">Equity-settled transactions<span id=\"ide32f3e76d934c0fb38aac612e53c8e7\"></span></span></div><div class=\"ps8160 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">The cost of equity-settled transactions is determined by the fair value </span></div><div class=\"ps8161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">at the date on which the grant is made using an appropriate </span></div><div class=\"ps8162 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">valuation model. That cost is recognised as employee benefits </span></div><div class=\"ps4214 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">expenses, together with a corresponding increase in equity (retained </span></div><div class=\"ps4215 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">earnings), over the period in which the service and, where applicable, </span></div><div class=\"ps4216 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">the performance conditions are fulfilled (the vesting period). The </span></div><div class=\"ps4217 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">cumulative expense recognised for equity-settled transactions at each </span></div><div class=\"ps4218 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">reporting date until the vesting date reflects both the extent to which </span></div><div class=\"ps3246 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">the vesting period has expired and the Group\u2019s best estimate of the </span></div><div class=\"ps8163 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">number of equity instruments that will ultimately vest. The expense or </span></div><div class=\"ps8164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">credit in the statement of profit or loss for a period represents the </span></div><div class=\"ps1932 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">movement in cumulative expense recognised at the beginning and </span></div><div class=\"ps1933 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">end of that period.</span></div><div class=\"ps7019 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Service and non-market performance conditions are not considered </span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">when determining the grant date fair value of awards. Instead, the </span></div><div class=\"ps7146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">likelihood of these conditions being met is assessed as part of the </span></div><div class=\"ps7149 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Group\u2019s best estimate of the number of equity instruments that will </span></div><div class=\"ps7564 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">ultimately vest. Market performance conditions are reflected directly </span></div><div class=\"ps7565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">in the grant date fair value.</span></div><div class=\"ps7103 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Any other conditions attached to an award, that do not include an </span></div><div class=\"ps7104 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">associated service requirement, are considered to be non-vesting </span></div><div class=\"ps7150 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">conditions. Non-vesting conditions are reflected in the fair value of </span></div><div class=\"ps7151 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">an award and result in an immediate expensing, unless there are also </span></div><div class=\"ps7152 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">service and/or performance conditions.</span></div><div class=\"ps5460 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">No expense is recognised for awards that do not ultimately vest as a </span></div><div class=\"ps7025 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">result non-market performance and/or service conditions not being </span></div><div class=\"ps7026 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">met. </span></div><div class=\"ps5463 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Where awards include a market or non-vesting condition, the </span></div><div class=\"ps5464 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">transactions are treated as vested regardless of whether the market </span></div><div class=\"ps5465 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">or non-vesting condition is satisfied, provided that all other </span></div><div class=\"ps5466 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">performance and/or service conditions are satisfied.</span></div><div class=\"ps7028 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The dilutive effect of outstanding options is reflected as additional </span></div><div class=\"ps5468 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">share dilution in the computation of diluted earnings per share in a </span></div><div class=\"ps5469 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">loss situation only where the loss per share is reduced.</span></div><div class=\"ps7498 ss0\"><div class=\"ss376 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:129.75pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:54pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:54pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:54pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:54pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:54pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:54pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"></td><td colspan=\"4\" style=\"background-color:#206079;padding:0\"><div class=\"ps8168 ss631\"><div><div class=\"ps44 ss630\"><span class=\"f charStyle-281247bf ps8167\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps440 ss631\"><div><div class=\"ps44 ss630\"><span class=\"f charStyle-054ead99 ps8167\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8169 ss631\"><div><div class=\"ps44 ss630\"><span class=\"f charStyle-054ead99 ps8167\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"background-color:#206079;padding:0\"><div class=\"ps8171 ss633\"><div><div class=\"ps44 ss632\"><span class=\"f charStyle-281247bf ps8170\">Executive management<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#206079;padding:0\"><div class=\"ps8173 ss633\"><div><div class=\"ps44 ss632\"><span class=\"f charStyle-281247bf ps8172\">Other employees<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"padding:0\"><div class=\"ps8174 ss633\"><div><div class=\"ps44 ss632\"><span class=\"f charStyle-054ead99 ps8170\">Executive management<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8175 ss633\"><div><div class=\"ps44 ss632\"><span class=\"f charStyle-054ead99 ps8172\">Other employees<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8176 ss633\"><div><div class=\"ps44 ss632\"><span class=\"f charStyle-054ead99 ps8170\">Executive management<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"padding:0\"><div class=\"ps8177 ss633\"><div><div class=\"ps44 ss632\"><span class=\"f charStyle-054ead99 ps8172\">Other employees<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps48 ss634\"><div><div class=\"ps5619 ss629\"><span class=\"f charStyle-b07b4361 ps42\">Outstanding instruments - <span class=\"f ps43\"> </span></span></div><div class=\"ps5618 ss629\"><span class=\"f charStyle-b07b4361 ps42\">Options</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8180 ss635\"><div><div class=\"ps8179 ss339\"><span class=\"f charStyle-4979afbe ps8178\">Number<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8183 ss637\"><div><div class=\"ps8179 ss636\"><span class=\"f charStyle-4979afbe ps8181\">WAEP</span><span class=\"f charStyle-88564ae7 ps8182\"><sup>1</sup></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8184 ss635\"><div><div class=\"ps8179 ss339\"><span class=\"f charStyle-4979afbe ps8178\">Number<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8185 ss637\"><div><div class=\"ps8179 ss636\"><span class=\"f charStyle-4979afbe ps8181\">WAEP</span><span class=\"f charStyle-88564ae7 ps8182\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8186 ss635\"><div><div class=\"ps8179 ss339\"><span class=\"f charStyle-64a4cf84 ps8178\">Number<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8187 ss637\"><div><div class=\"ps8179 ss636\"><span class=\"f charStyle-5e156cc0 ps8181\">WAEP</span><span class=\"f charStyle-6df02eca ps8182\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8188 ss635\"><div><div class=\"ps8179 ss339\"><span class=\"f charStyle-64a4cf84 ps8178\">Number<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-right:1pt solid #ecedef;padding:0\"><div class=\"ps755 ss637\"><div><div class=\"ps8179 ss636\"><span class=\"f charStyle-5e156cc0 ps8181\">WAEP</span><span class=\"f charStyle-6df02eca ps8182\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8190 ss635\"><div><div class=\"ps8179 ss339\"><span class=\"f charStyle-64a4cf84 ps8189\">Number<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8191 ss637\"><div><div class=\"ps8179 ss636\"><span class=\"f charStyle-5e156cc0 ps8181\">WAEP</span><span class=\"f charStyle-6df02eca ps8182\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8192 ss635\"><div><div class=\"ps8179 ss339\"><span class=\"f charStyle-64a4cf84 ps8189\">Number<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8193 ss637\"><div><div class=\"ps8179 ss636\"><span class=\"f charStyle-5e156cc0 ps8181\">WAEP</span><span class=\"f charStyle-6df02eca ps8182\"><sup>1</sup></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5266 ss638\"><div><div class=\"ps44 ss629\"><span class=\"f charStyle-1bac868e ps633\">Outstanding at 1 January<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8195 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.37pt\"></span></span><span class=\"ps8194\">1,353,052</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8197 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.47pt\"></span></span><span class=\"ps8196\">4.39</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8198 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.37pt\"></span></span><span class=\"ps8194\">1,487,689</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8199 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.47pt\"></span></span><span class=\"ps8196\">4.76</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8201 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8200\">967,029</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8203 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8202\">3.47</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8204 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8200\">894,123</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8205 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8202\">3.46</span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8206 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8200\">344,589</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8207 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8202\">3.16</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8208 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8200\">330,963</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8209 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8202\">3.15</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps650 ss638\"><div><div class=\"ps44 ss629\"><span class=\"f charStyle-1bac868e ps633\">Granted during the year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8211 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8210\">912,490</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8212 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.47pt\"></span></span><span class=\"ps8196\">5.09</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8213 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8210\">491,341</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8214 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.47pt\"></span></span><span class=\"ps8196\">5.09</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8215 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8200\">386,023</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8216 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8202\">6.24</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8217 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8200\">631,674</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps653 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8202\">6.24</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8218 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8200\">622,440</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8219 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8202\">3.64</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8220 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8200\">563,160</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8221 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8202\">3.64</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps6278 ss638\"><div><div class=\"ps44 ss629\"><span class=\"f charStyle-1bac868e ps633\">Forfeited during the year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8223 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8225 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8227 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.6pt\"></span></span><span class=\"ps8226\">(62,908)</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8228 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.47pt\"></span></span><span class=\"ps8196\">3.80</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8230 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8229\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8232 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8231\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8233 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8229\">\u2014</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8234 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8231\">\u2014</span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8235 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8229\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8236 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8231\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8237 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8229\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8238 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8231\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps8239 ss638\"><div><div class=\"ps44 ss629\"><span class=\"f charStyle-1bac868e ps633\">Exercised during the year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8240 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8241 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8242 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8243 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8244 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8229\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8245 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8202\">3.03</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8246 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.25pt\"></span></span><span class=\"ps7744\">(38,108)</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8247 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8231\">\u2014</span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8248 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8229\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8249 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8231\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8250 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8229\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8251 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8231\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8252 ss638\"><div><div class=\"ps44 ss629\"><span class=\"f charStyle-1bac868e ps633\">Expired during the year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8253 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8254 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8255 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8256 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8257 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8229\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8258 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8231\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8259 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8229\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8260 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8231\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8261 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8229\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8262 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8231\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8263 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8229\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8264 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8231\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4801 ss638\"><div><div class=\"ps44 ss629\"><span class=\"f charStyle-b07b4361 ps42\">Outstanding at 31 December <span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8266 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.17pt\"></span></span><span class=\"ps8265\">2,265,542</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8268 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.03pt\"></span></span><span class=\"ps8267\">4.69</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8269 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.17pt\"></span></span><span class=\"ps8265\">1,916,122</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8270 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.03pt\"></span></span><span class=\"ps8267\">4.90</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8272 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:17.82pt\"></span></span><span class=\"ps8271\">1,353,052</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8273 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44 ps3996\">4.39<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8274 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:17.82pt\"></span></span><span class=\"ps8271\">1,487,689</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8275 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44 ps3996\">4.76<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8277 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.42pt\"></span></span><span class=\"ps8276\">967,029</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8278 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44 ps3996\">3.47<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8279 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.42pt\"></span></span><span class=\"ps8276\">894,123</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8280 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44 ps3996\">3.46<span class=\"f ps43\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps8383 ss0\"><div class=\"ss644 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:129pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:54pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:54pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:54pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:54pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:54pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:54pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"></td><td colspan=\"4\" style=\"background-color:#206079;padding:0\"><div class=\"ps8284 ss631\"><div><div class=\"ps44 ss630\"><span class=\"f charStyle-281247bf ps8167\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8285 ss631\"><div><div class=\"ps44 ss630\"><span class=\"f charStyle-054ead99 ps8167\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8286 ss631\"><div><div class=\"ps44 ss630\"><span class=\"f charStyle-054ead99 ps8167\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"background-color:#206079;padding:0\"><div class=\"ps8287 ss633\"><div><div class=\"ps44 ss632\"><span class=\"f charStyle-281247bf ps8170\">Executive management<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#206079;padding:0\"><div class=\"ps8288 ss633\"><div><div class=\"ps44 ss632\"><span class=\"f charStyle-281247bf ps8172\">Other employees<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"padding:0\"><div class=\"ps8289 ss633\"><div><div class=\"ps44 ss632\"><span class=\"f charStyle-054ead99 ps8170\">Executive management<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8290 ss633\"><div><div class=\"ps44 ss632\"><span class=\"f charStyle-054ead99 ps8172\">Other employees<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8291 ss633\"><div><div class=\"ps44 ss632\"><span class=\"f charStyle-054ead99 ps8170\">Executive management<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"padding:0\"><div class=\"ps8292 ss633\"><div><div class=\"ps44 ss632\"><span class=\"f charStyle-054ead99 ps8172\">Other employees<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps48 ss642\"><div><div class=\"ps5619 ss641\"><span class=\"f charStyle-b07b4361 ps42\">Outstanding instruments - <span class=\"f ps43\"> </span></span></div><div class=\"ps5618 ss641\"><span class=\"f charStyle-b07b4361 ps42\">RSU</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8294 ss635\"><div><div class=\"ps8179 ss339\"><span class=\"f charStyle-4979afbe ps8293\">Number<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8295 ss637\"><div><div class=\"ps8179 ss636\"><span class=\"f charStyle-4979afbe ps8181\">WAEP</span><span class=\"f charStyle-88564ae7 ps8182\"><sup>1</sup></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8296 ss635\"><div><div class=\"ps8179 ss339\"><span class=\"f charStyle-4979afbe ps8293\">Number<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8297 ss637\"><div><div class=\"ps8179 ss636\"><span class=\"f charStyle-4979afbe ps8181\">WAEP</span><span class=\"f charStyle-88564ae7 ps8182\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8298 ss635\"><div><div class=\"ps8179 ss339\"><span class=\"f charStyle-64a4cf84 ps8293\">Number<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8299 ss637\"><div><div class=\"ps8179 ss636\"><span class=\"f charStyle-5e156cc0 ps8181\">WAEP</span><span class=\"f charStyle-6df02eca ps8182\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8300 ss635\"><div><div class=\"ps8179 ss339\"><span class=\"f charStyle-64a4cf84 ps8293\">Number<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8301 ss637\"><div><div class=\"ps8179 ss636\"><span class=\"f charStyle-5e156cc0 ps8181\">WAEP</span><span class=\"f charStyle-6df02eca ps8182\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8303 ss635\"><div><div class=\"ps8179 ss339\"><span class=\"f charStyle-64a4cf84 ps8302\">Number<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8304 ss637\"><div><div class=\"ps8179 ss636\"><span class=\"f charStyle-5e156cc0 ps8181\">WAEP</span><span class=\"f charStyle-6df02eca ps8182\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8305 ss635\"><div><div class=\"ps8179 ss339\"><span class=\"f charStyle-64a4cf84 ps8302\">Number<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8306 ss637\"><div><div class=\"ps8179 ss636\"><span class=\"f charStyle-5e156cc0 ps8181\">WAEP</span><span class=\"f charStyle-6df02eca ps8182\"><sup>1</sup></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5266 ss643\"><div><div class=\"ps44 ss641\"><span class=\"f charStyle-1bac868e ps633\">Outstanding at 1 January<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8307 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8210\">382,707</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8308 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8309 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8210\">205,504</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8310 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8311 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8210\">245,126</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8312 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8313 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8210\">271,327</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8314 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8316 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:33.02pt\"></span></span><span class=\"ps8315\">55,430</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8317 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8318 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:33.02pt\"></span></span><span class=\"ps8315\">65,823</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8319 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps650 ss643\"><div><div class=\"ps44 ss641\"><span class=\"f charStyle-1bac868e ps633\">Granted during the year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8320 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8321 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8322 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8323 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8324 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8210\">193,011</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8325 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8326 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8327 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8328 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8210\">189,696</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8329 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8330 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8210\">205,504</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8331 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps6278 ss643\"><div><div class=\"ps44 ss641\"><span class=\"f charStyle-1bac868e ps633\">Forfeited during the year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8332 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8333 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8335 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.45pt\"></span></span><span class=\"ps8334\">(6,847)</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8336 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8337 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8338 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8339 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8340 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8341 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8342 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8343 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8344 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps8239 ss643\"><div><div class=\"ps44 ss641\"><span class=\"f charStyle-1bac868e ps633\">Exercised during the year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8346 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.75pt\"></span></span><span class=\"ps8345\">(189,696)</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8347 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8348 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.75pt\"></span></span><span class=\"ps8345\">(198,657)</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8349 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8350 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.6pt\"></span></span><span class=\"ps8226\">(55,430)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8351 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8352 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.6pt\"></span></span><span class=\"ps8226\">(65,823)</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8353 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8354 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8355 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8356 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8357 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8252 ss643\"><div><div class=\"ps44 ss641\"><span class=\"f charStyle-1bac868e ps633\">Expired during the year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8358 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8359 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8360 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8361 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8362 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8363 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8364 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8365 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8366 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8367 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8368 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8369 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4801 ss643\"><div><div class=\"ps44 ss641\"><span class=\"f charStyle-b07b4361 ps42\">Outstanding at 31 December<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8370 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.77pt\"></span></span><span class=\"ps6890\">193,011</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8371 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8372 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8373 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8374 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.42pt\"></span></span><span class=\"ps8276\">382,707</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8376 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44 ps8375\">0<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8377 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.42pt\"></span></span><span class=\"ps8276\">205,504</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8378 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44 ps8375\">0<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8379 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.42pt\"></span></span><span class=\"ps8276\">245,126</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8380 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44 ps8375\">0<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8381 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.42pt\"></span></span><span class=\"ps8276\">271,327</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8382 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44 ps8375\">0<span class=\"f ps43\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 8</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Board of Directors and Executive Management Compensation<span id=\"i430bdd9f93894189b006496fc30f907b\"></span></span></div><div class=\"ps7670 ss0\"><div class=\"ss652 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:183pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"></td><td colspan=\"3\" style=\"background-color:#206079;padding:0\"><div class=\"ps8388 ss647\"><div><div class=\"ps44 ss646\"><span class=\"f charStyle-281247bf ps8387\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"padding:0\"><div class=\"ps7517 ss647\"><div><div class=\"ps44 ss646\"><span class=\"f charStyle-054ead99 ps8387\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"padding:0\"><div class=\"ps8389 ss647\"><div><div class=\"ps44 ss646\"><span class=\"f charStyle-054ead99 ps8387\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:30.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps46 ss648\"><div><div class=\"ps8390 ss645\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8395 ss649\"><div><div class=\"ps8392 ss298\"><span class=\"f charStyle-281247bf ps8391\">Board of <span class=\"f ps43\"> </span></span></div><div class=\"ps8394 ss298\"><span class=\"f charStyle-281247bf ps8393\">directors</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8398 ss649\"><div><div class=\"ps8392 ss298\"><span class=\"f charStyle-281247bf ps8396\">Executive <span class=\"f ps43\"> </span></span></div><div class=\"ps8394 ss298\"><span class=\"f charStyle-281247bf ps8397\">management</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8399 ss649\"><div><div class=\"ps8394 ss298\"><span class=\"f charStyle-281247bf ps7676\">Total<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8400 ss649\"><div><div class=\"ps8392 ss298\"><span class=\"f charStyle-054ead99 ps8391\">Board of <span class=\"f ps43\"> </span></span></div><div class=\"ps8394 ss298\"><span class=\"f charStyle-054ead99 ps8393\">directors</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8401 ss649\"><div><div class=\"ps8392 ss298\"><span class=\"f charStyle-054ead99 ps8396\">Executive <span class=\"f ps43\"> </span></span></div><div class=\"ps8394 ss298\"><span class=\"f charStyle-054ead99 ps8397\">management</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8402 ss649\"><div><div class=\"ps8394 ss298\"><span class=\"f charStyle-054ead99 ps7676\">Total<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8403 ss649\"><div><div class=\"ps8392 ss298\"><span class=\"f charStyle-054ead99 ps8391\">Board of <span class=\"f ps43\"> </span></span></div><div class=\"ps8394 ss298\"><span class=\"f charStyle-054ead99 ps8393\">directors</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8404 ss649\"><div><div class=\"ps8392 ss298\"><span class=\"f charStyle-054ead99 ps8396\">Executive <span class=\"f ps43\"> </span></span></div><div class=\"ps8394 ss298\"><span class=\"f charStyle-054ead99 ps8397\">management</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8405 ss649\"><div><div class=\"ps8394 ss298\"><span class=\"f charStyle-054ead99 ps7676\">Total<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2060 ss650\"><div><div class=\"ps44 ss645\"><span class=\"f charStyle-1bac868e ps633\">Wages, salaries and board fees<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8407 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8406\">419</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8408 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8406\">998</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8410 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8409\">1,417</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8411 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8406\">334</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8412 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8406\">955</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8413 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8409\">1,289</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8414 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8406\">183</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8415 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8406\">821</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8416 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8409\">1,004</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps2158 ss650\"><div><div class=\"ps44 ss645\"><span class=\"f charStyle-1bac868e ps633\">Pension costs - defined contribution plans<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8418 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8417\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8419 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8406\">100</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8420 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8406\">100</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8421 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8417\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8423 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8422\">95</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8424 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8422\">95</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8425 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8417\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8426 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8422\">29</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8427 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8422\">29</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps2188 ss650\"><div><div class=\"ps44 ss645\"><span class=\"f charStyle-1bac868e ps633\">Share based payment<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8428 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8417\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8429 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8409\">1,249</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8430 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8409\">1,249</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8431 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8417\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8432 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8406\">957</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8433 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8406\">957</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8434 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8417\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8435 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8406\">588</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8436 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8406\">588</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps5658 ss650\"><div><div class=\"ps44 ss645\"><span class=\"f charStyle-1bac868e ps633\">Other short-term benefits<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8437 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8417\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8438 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8422\">35</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8439 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8422\">35</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8440 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8417\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8441 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8422\">41</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8442 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8422\">41</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8443 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8417\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8444 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8422\">55</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8445 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8422\">55</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5664 ss650\"><div><div class=\"ps44 ss645\"><span class=\"f charStyle-1bac868e ps633\">Cash bonus<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8446 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8417\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8447 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8409\">2,473</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8448 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8409\">2,473</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8449 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8417\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8450 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8409\">1,197</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8451 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8409\">1,197</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8452 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8417\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8453 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8409\">1,155</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8454 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8409\">1,155</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps1818 ss650\"><div><div class=\"ps44 ss645\"><span class=\"f charStyle-b07b4361 ps42\">Total management compensation<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8456 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.11pt\"></span></span><span class=\"ps8455\">419</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8458 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.51pt\"></span></span><span class=\"ps8457\">4,855</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8459 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.51pt\"></span></span><span class=\"ps8457\">5,274</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8460 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.11pt\"></span></span><span class=\"ps8455\">334</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8461 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.51pt\"></span></span><span class=\"ps8457\">3,245</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8462 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.51pt\"></span></span><span class=\"ps8457\">3,579</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8463 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.11pt\"></span></span><span class=\"ps8455\">183</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8464 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.51pt\"></span></span><span class=\"ps8457\">2,648</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8465 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.51pt\"></span></span><span class=\"ps8457\">2,831</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps8467 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Executive Management<span id=\"i4aea9fb2a6e3447b861a2c4d2ae241f8\"></span></span></div><div class=\"ps8468 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Executive Management refers to the members of the Executive </span></div><div class=\"ps8469 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Management who are registered with the Danish business authority </span></div><div class=\"ps8470 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">and who have the authority and responsibility for the planning, </span></div><div class=\"ps8471 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">directing and controlling of the activities of the Company as defined </span></div><div class=\"ps8472 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">by IAS 24. As such, Executive Management is considered Chief </span></div><div class=\"ps8473 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Operating Decision Makers (CODM) as defined by IFRS 8.</span></div><div class=\"ps8467 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps882\">Board of Directors<span id=\"ic39a4ba5386743bb8c25659cb8623c39\"></span></span></div><div class=\"ps8468 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">Andreas Sohmen-Pao and Andreas Beroutsos are employed by the </span></div><div class=\"ps8469 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">BW Group. These board members did not receive remuneration from </span></div><div class=\"ps8470 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">Cadeler in </span><span class=\"f charStyle-c1b8f9f6 ps8475\">2023</span><span class=\"f charStyle-c1b8f9f6 ps8476\">, </span><span class=\"f charStyle-c1b8f9f6 ps8477\">2024</span><span class=\"f charStyle-c1b8f9f6 ps8478\"> and </span><span class=\"f charStyle-c1b8f9f6 ps8479\">2025</span><span class=\"f charStyle-c1b8f9f6 ps8480\">. Andreas Beroutsos stepped down </span></div><div class=\"ps8471 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">from the Board with effect from 25 April 2023. On the same date, </span></div><div class=\"ps8472 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">Andrea Abt joined the Board. </span></div><div class=\"ps8481 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">David Peter Cogman is employed by the Swire Group and did not </span></div><div class=\"ps8474 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">receive remuneration from Cadeler in 2022 and 2023. David Peter </span></div><div class=\"ps8482 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">Cogman stepped down from the Board with effect from 16 June </span></div><div class=\"ps8483 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">2023, together with Connie Hedegaard. </span></div><div class=\"ps8485 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">On 20 February 2024, Emanuele Lauro and James Nish joined the </span></div><div class=\"ps8486 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Board. Emanuele Lauro is the Director and Chief Executive Officer of </span></div><div class=\"ps8488 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Scorpio Holdings Limited, which is considered a related party (see</span><span class=\"f charStyle-c1b8f9f6 ps8487\"> </span></div><div class=\"ps8490 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Note 27</span><span class=\"f charStyle-c1b8f9f6 ps8489\">).</span></div><div class=\"ps2962 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">On 23 April 2024, Jesper T. Lok left the Board of Directors and </span></div><div class=\"ps2963 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Colette Cohen was elected to serve a </span><span class=\"f charStyle-c1b8f9f6 ps8491\">two</span><span class=\"f charStyle-c1b8f9f6 ps8492\"> year</span><span class=\"f charStyle-c1b8f9f6 ps8493\"> term through the 2026 </span></div><div class=\"ps2762 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">AGM. </span></div><div class=\"ps1682 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">On 11 November 2024, Thomas Thune Andersen was elected as a </span></div><div class=\"ps1683 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">new member of the Board of Directors.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-522": {
   "value": "<div class=\"ps7670 ss0\"><div class=\"ss119 ws0 ps2915\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:189pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss617\"><div><div class=\"ps750 ss616\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7672 ss475\"><div><div class=\"ps44 ss337\"><span class=\"f charStyle-054ead99 ps6301\">Note<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6193 ss475\"><div><div class=\"ps44 ss337\"><span class=\"f charStyle-281247bf ps6302\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7673 ss475\"><div><div class=\"ps44 ss337\"><span class=\"f charStyle-054ead99 ps6302\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6040 ss475\"><div><div class=\"ps44 ss337\"><span class=\"f charStyle-054ead99 ps6302\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps46 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-b07b4361 ps42\">Administrative expenses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps634 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-1bac868e ps633\">Depreciation and amortisation<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7678 ss619\"><div><div class=\"ps7675 ss337\"><span class=\"f charStyle-e5ec5c44 ps7674\">\u00a012\u00a0,\u00a013\u00a0,\u00a014<span class=\"f ps43\"> </span></span></div><div class=\"ps7677 ss337\"><span class=\"f charStyle-e5ec5c44 ps7676\">\u00a0</span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7679 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">3,549</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7680 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">2,522</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7681 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6318\">534</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5266 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-1bac868e ps633\">Employee compensation<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7683 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44 ps7682\">6<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7684 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6307\">46,282</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7685 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6307\">33,132</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7686 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6307\">18,889</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps2072 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-1bac868e ps633\">Repair and maintenance expenses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7687 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">3,449</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7688 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">3,020</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7689 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">1,123</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps770 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-1bac868e ps633\">Legal and professional fees<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7690 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">9,087</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7691 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">7,576</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7692 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">2,122</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5151 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-1bac868e ps633\">Transaction costs<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7693 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6333\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7694 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6333\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7695 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">7,707</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps7696 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-1bac868e ps633\">Rental expenses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7697 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">2,484</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7698 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">1,757</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7699 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6318\">751</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps64 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-1bac868e ps633\">Travel expense<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps6417 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">2,393</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7700 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">1,988</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7701 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6318\">985</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps7702 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-1bac868e ps633\">Marketing and entertainment expenses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7703 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6318\">968</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7704 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">1,283</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7705 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6318\">602</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5702 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-1bac868e ps633\">Other expenses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7706 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">6,414</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7707 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">5,823</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7708 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">1,745</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5998 ss618\"><div><div class=\"ps438 ss616\"><span class=\"f charStyle-b07b4361 ps42\">Total administrative expenses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7709 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7387\">74,626</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7710 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7387\">57,101</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7711 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7387\">34,458</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps2438 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">Transaction costs in 2023 include all costs related to the business combination with Eneti, such as advisory, </span></div><div class=\"ps2439 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">legal and consulting fees, which are included in administrative expenses.</span></div><div><div id=\"i60a9312555114c61b3ebee7078e135c5_10445360466963\" style=\"position:absolute;top:42.52pt\"></div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 27</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Related Party Transactions<span id=\"i2bb192173dd14b49a28761a863971e08\"></span></span></div><div class=\"ps7168 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The following significant transactions took place between the Company and related parties within the BW <span class=\"f ps43\"> </span></span></div><div class=\"ps7169 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Group, Scorpio Holdings and Swire Pacific Offshore Holdings Group at terms agreed between the parties:</span></div><div class=\"ps8663 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps11108\"> </span><div class=\"ss177 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:252.75pt\"></td><td style=\"padding:0;width:54.75pt\"></td><td style=\"padding:0;width:54.75pt\"></td><td style=\"padding:0;width:54.75pt\"></td></tr><tr style=\"height:18pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss801\"><div><div class=\"ps624 ss800\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11109 ss802\"><div><div class=\"ps622 ss454\"><span class=\"f charStyle-281247bf ps4635\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11110 ss802\"><div><div class=\"ps622 ss454\"><span class=\"f charStyle-054ead99 ps4635\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2178 ss802\"><div><div class=\"ps622 ss454\"><span class=\"f charStyle-054ead99 ps4635\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:26.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps625 ss803\"><div><div class=\"ps3884 ss800\"><span class=\"f charStyle-e5ec5c44 ps42\">Purchases of services from related parties<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11111 ss804\"><div><div class=\"ps3884 ss454\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:15.97pt\"></span></span><span class=\"ps10691\">(5,732)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11112 ss804\"><div><div class=\"ps3884 ss454\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:15.97pt\"></span></span><span class=\"ps10691\">(8,260)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11113 ss804\"><div><div class=\"ps3884 ss454\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:15.97pt\"></span></span><span class=\"ps10691\">(9,216)</span></span></div></div></div></td></tr><tr style=\"height:26.25pt\"><td style=\"padding:0\"><div class=\"ps11114 ss803\"><div><div class=\"ps3884 ss800\"><span class=\"f charStyle-1bac868e ps633\">BW Group Limited (including subsidiaries)<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps11115 ss804\"><div><div class=\"ps3884 ss454\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.95pt\"></span></span><span class=\"ps10683\">(5,455)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11116 ss804\"><div><div class=\"ps3884 ss454\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.95pt\"></span></span><span class=\"ps10683\">(7,121)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11117 ss804\"><div><div class=\"ps3884 ss454\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.95pt\"></span></span><span class=\"ps10683\">(9,199)</span></span></div></div></div></td></tr><tr style=\"height:26.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps3738 ss803\"><div><div class=\"ps3884 ss800\"><span class=\"f charStyle-1bac868e ps633\">Scorpio Holdings Limited (including subsidiaries)<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11119 ss804\"><div><div class=\"ps3884 ss454\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.75pt\"></span></span><span class=\"ps11118\">(277)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11120 ss804\"><div><div class=\"ps3884 ss454\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.95pt\"></span></span><span class=\"ps10683\">(1,139)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11122 ss804\"><div><div class=\"ps3884 ss454\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:30.6pt\"></span></span><span class=\"ps11121\">(17)</span></span></div></div></div></td></tr><tr style=\"height:26.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps770 ss803\"><div><div class=\"ps3884 ss800\"><span class=\"f charStyle-e5ec5c44 ps42\">Receivables from related parties at reported period<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11123 ss804\"><div><div class=\"ps3884 ss454\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.72pt\"></span></span><span class=\"ps10669\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11124 ss804\"><div><div class=\"ps3884 ss454\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:30.21pt\"></span></span><span class=\"ps6126\">214</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11125 ss804\"><div><div class=\"ps3884 ss454\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:30.21pt\"></span></span><span class=\"ps6126\">592</span></span></div></div></div></td></tr><tr style=\"height:26.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9480 ss803\"><div><div class=\"ps3884 ss800\"><span class=\"f charStyle-1bac868e ps633\">Scorpio Holdings Limited (including subsidiaries)<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11126 ss804\"><div><div class=\"ps3884 ss454\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.72pt\"></span></span><span class=\"ps10669\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11127 ss804\"><div><div class=\"ps3884 ss454\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7791\">214</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11128 ss804\"><div><div class=\"ps3884 ss454\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7791\">592</span></span></div></div></div></td></tr><tr style=\"height:26.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps675 ss803\"><div><div class=\"ps3884 ss800\"><span class=\"f charStyle-e5ec5c44 ps42\">Payables to related parties at reported period<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11129 ss804\"><div><div class=\"ps3884 ss454\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:30.21pt\"></span></span><span class=\"ps6126\">382</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11130 ss804\"><div><div class=\"ps3884 ss454\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:30.21pt\"></span></span><span class=\"ps6126\">223</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11131 ss804\"><div><div class=\"ps3884 ss454\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:30.21pt\"></span></span><span class=\"ps6126\">162</span></span></div></div></div></td></tr><tr style=\"height:26.25pt\"><td style=\"padding:0\"><div class=\"ps4614 ss803\"><div><div class=\"ps3884 ss800\"><span class=\"f charStyle-1bac868e ps633\">BW Group Limited (including subsidiaries)<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps11132 ss804\"><div><div class=\"ps3884 ss454\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7791\">306</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11133 ss804\"><div><div class=\"ps3884 ss454\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7791\">181</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11134 ss804\"><div><div class=\"ps3884 ss454\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.02pt\"></span></span><span class=\"ps7259\">10</span></span></div></div></div></td></tr><tr style=\"height:26.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8816 ss803\"><div><div class=\"ps3884 ss800\"><span class=\"f charStyle-1bac868e ps633\">Scorpio Holdings Limited (including subsidiaries)<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11135 ss804\"><div><div class=\"ps3884 ss454\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.02pt\"></span></span><span class=\"ps7259\">76</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11136 ss804\"><div><div class=\"ps3884 ss454\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.02pt\"></span></span><span class=\"ps7259\">42</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11137 ss804\"><div><div class=\"ps3884 ss454\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7791\">152</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps11138 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Related party transactions during the reporting period are primarily related to guarantee fees charged by </span></div><div class=\"ps11139 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">BW Group Limited, bunker supply provided by Hafnia Pools (a member of the BW Group), training-related </span></div><div class=\"ps11140 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">costs charged by BW Maritime, and administrative expenses charged by Scorpio Services Holding. </span></div><div class=\"ps11143 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">As at 31 December 2025, approximately EUR </span><span class=\"f charStyle-c1b8f9f6 ps11141\">3\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps11142\"> recognised within prepayments relates to legal and </span></div><div class=\"ps11144 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">advisory costs incurred by the Company on behalf of a special purpose vehicle incorporated by BW Altor </span></div><div class=\"ps11145 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Pte. Ltd. in connection with the Cadeler Group\u2019s proposed re-domiciliation to the United Kingdom, as first </span></div><div class=\"ps11146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">disclosed on 28 June 2024. It is anticipated that these costs will be reimbursed by the special purposes </span></div><div class=\"ps11147 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">vehicle (which is today a related party) immediately following the contemplated transaction, which the </span></div><div class=\"ps11148 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Company expects to complete in 2026.</span></div><div class=\"ps7168 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">In addition, Cadeler has not entered into any significant transactions with members of the Cadeler Board of </span></div><div class=\"ps7169 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Directors or Executive Management, other than remuneration and reimbursement of expenses. Cadeler has </span></div><div class=\"ps7171 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">not provided or granted any loans or guarantees to its directors or Executive Management. For information </span></div><div class=\"ps7172 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">on remuneration paid to members of the Cadeler Board and Executive Management, refer to </span><span class=\"f charStyle-c1b8f9f6 ps11149\">Note 8.</span></div><div class=\"ps11150 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Group\u2019s Related Party Transactions<span id=\"i6b1ab329e45d44a4a30987e63b836a0b\"></span></span></div><div class=\"ps7565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Members of Cadeler\u2019s Executive Management and its Board of Directors, as well as their respective close </span></div><div class=\"ps6922 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">family members and entities controlled by them or over which they exercise significant influence are </span></div><div class=\"ps6923 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">considered related parties of Cadeler. BW Altor Pte. Ltd. (\u201cBW Altor\u201d) and Scorpio Holdings Limited (\u201cScorpio </span></div><div class=\"ps6926 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Holdings\u201d), together with certain of their respective affiliates are considered related parties as they are </span></div><div class=\"ps2785 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">deemed to be controlled by, or under the significant influence of, Andreas Sohmen-Pao and Emanuele </span></div><div class=\"ps2786 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Lauro (each a member of Cadeler\u2019s Board of Directors), respectively. For the financial year 2022, Swire </span></div><div class=\"ps2787 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Pacific Limited (\u201cSwire Pacific\u201d) was considered a related party of Cadeler due to its significant ownership </span></div><div class=\"ps2788 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">stake and the fact that one of its employees served as a director on the Cadeler Board of Directors. </span></div><div class=\"ps2789 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">However, with effect from 1 January 2023, Cadeler ceased to consider Swire Pacific to be a related party due </span></div><div class=\"ps2790 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">to its reduced ownership percentage and the fact that it was no longer represented on Cadeler\u2019s Board of </span></div><div class=\"ps3453 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Directors.</span></div><div class=\"ps2792 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">For the financial years ended </span><span class=\"f charStyle-c1b8f9f6 ps11151\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps11152\">, </span><span class=\"f charStyle-c1b8f9f6 ps11153\">2024</span><span class=\"f charStyle-c1b8f9f6 ps11154\"> and </span><span class=\"f charStyle-c1b8f9f6 ps11155\">2023</span><span class=\"f charStyle-c1b8f9f6 ps11156\">, there were no material transactions </span></div><div class=\"ps2793 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">between Cadeler or any entity within the Cadeler Group and BW Altor, Scorpio Holdings and/or Swire </span></div><div class=\"ps2794 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Pacific (or their respective affiliates) other than the transactions described below.</span></div></div><div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Guarantees provided by BW Group<span id=\"i7e09cec18145458faf06e5c2ac0d695d\"></span></span></div><div class=\"ps372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">BW Group has provided COSCO with </span><span class=\"f charStyle-c1b8f9f6 ps11158\">four</span><span class=\"f charStyle-c1b8f9f6 ps11159\"> guarantees in respect of </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the sums payable by Cadeler in accordance with the contracts for the </span></div><div class=\"ps400 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">construction of certain P-class and A-class WTIVs in 2021, 2022 and </span></div><div class=\"ps7422 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">2023. Under this guarantee arrangement, certain fees are payable by </span></div><div class=\"ps11160 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the Group to BW Group until the guarantees are discharged in full.</span></div><div class=\"ps377 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">On 27 May 2024, additional guarantees were provided in respect of </span></div><div class=\"ps378 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the sums owed by Cadeler pursuant to the ordered third A-class </span></div><div class=\"ps379 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">vessel. </span></div><div class=\"ps11161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Training courses provided by BW Maritime<span id=\"i3d29e78920a0443eb7d7314c92dbb326\"></span></span></div><div class=\"ps8690 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">BW Maritime has provided training courses for Cadeler\u2019s onshore </span></div><div class=\"ps11162 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">staff as well as reimbursement of travelling costs for board members.</span></div><div class=\"ps11163 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Administrative support provided by Scorpio Services <span id=\"i2d723143f9754066b9ced867ca33d860\"></span></span></div><div class=\"ps11164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Holding</span></div><div class=\"ps2993 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group, due to the business combination with Eneti, holds an </span></div><div class=\"ps2994 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">agreement with Scorpio Services Holding (\u201cSSH\u201d) for the provision of </span></div><div class=\"ps3091 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">administrative staff, office space and accounting, legal compliance, </span></div><div class=\"ps3092 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">financial and information technology services for which it is required </span></div><div class=\"ps3093 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">to reimburse to SSH for the direct and indirect expenses incurred in </span></div><div class=\"ps3123 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">providing such services. </span></div><div class=\"ps11165 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Ultramax and Kamsarmax pools<span id=\"i8f3505abd1d04bb9b1585bd5dd4f8f18\"></span></span></div><div class=\"ps11166 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Through the business combination the Company acquired </span></div><div class=\"ps11168 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">receivables positions from Enet</span><span class=\"f charStyle-c1b8f9f6 ps11167\">i related to transactions to Scorpio </span></div><div class=\"ps11169 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Group related parties for commercial management services. These </span></div><div class=\"ps7236 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">services involved securing employment for Eneti\u2019s drybulk vessels in </span></div><div class=\"ps9899 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the spot market or on time charters. The pools are owned by Scorpio </span></div><div class=\"ps11170 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Holdings which is considered a related party.</span></div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 29</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Group Information<span id=\"i83c2450c9bb34a7c8d46a5d024a65e6b\"></span></span></div><div class=\"ps6907 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The consolidated financial statements of the Group include the following subsidiaries, which are all wholly </span></div><div class=\"ps11300 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">owned by the Parent Company: </span></div><div class=\"ps11325 ss0\"><div class=\"ss119 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:336pt\"></td><td style=\"padding:0;width:78pt\"></td></tr><tr style=\"height:14.25pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss811\"><div><div class=\"ps4278 ss810\"><span class=\"f charStyle-23b55a92 ps42\">Entities<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11301 ss326\"><div><div class=\"ps4278 ss317\"><span class=\"f charStyle-23b55a92 ps42\">Country<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4283 ss811\"><div><div class=\"ps2165 ss810\"><span class=\"f charStyle-2b5af115 ps42\">Vessel owning entities<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:14.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps6201 ss811\"><div><div class=\"ps2165 ss810\"><span class=\"f charStyle-1bac868e ps633\">Wind Orca Ltd<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11302 ss326\"><div><div class=\"ps2165 ss317\"><span class=\"f charStyle-2b5af115 ps42\">Cyprus<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps6208 ss811\"><div><div class=\"ps2165 ss810\"><span class=\"f charStyle-1bac868e ps633\">Wind Osprey Ltd<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11303 ss326\"><div><div class=\"ps2165 ss317\"><span class=\"f charStyle-2b5af115 ps42\">Cyprus<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps6214 ss811\"><div><div class=\"ps2165 ss810\"><span class=\"f charStyle-1bac868e ps633\">Wind Peak Ltd (formerly referred as to N1063 Ltd)<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11304 ss326\"><div><div class=\"ps2165 ss317\"><span class=\"f charStyle-2b5af115 ps42\">Cyprus<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps6123 ss811\"><div><div class=\"ps2165 ss810\"><span class=\"f charStyle-1bac868e ps633\">Wind Pace Ltd (formerly referred as to N1064 Ltd)<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11305 ss326\"><div><div class=\"ps2165 ss317\"><span class=\"f charStyle-2b5af115 ps42\">Cyprus<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps6329 ss811\"><div><div class=\"ps2165 ss810\"><span class=\"f charStyle-1bac868e ps633\">Wind Ally Ltd.<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11306 ss326\"><div><div class=\"ps2165 ss317\"><span class=\"f charStyle-2b5af115 ps42\">Cyprus<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps6335 ss811\"><div><div class=\"ps2165 ss810\"><span class=\"f charStyle-1bac868e ps633\">Wind Ace Ltd.<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11307 ss326\"><div><div class=\"ps2165 ss317\"><span class=\"f charStyle-2b5af115 ps42\">Cyprus<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps2301 ss811\"><div><div class=\"ps2165 ss810\"><span class=\"f charStyle-1bac868e ps633\">Wind Maker Ltd (formerly referred to as Seajacks 1 Ltd)<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11308 ss326\"><div><div class=\"ps2165 ss317\"><span class=\"f charStyle-2b5af115 ps42\">UK<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps2007 ss811\"><div><div class=\"ps2165 ss810\"><span class=\"f charStyle-1bac868e ps633\">Wind Mover Ltd (formerly referred to as Seajacks 5 Ltd)<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11309 ss326\"><div><div class=\"ps2165 ss317\"><span class=\"f charStyle-2b5af115 ps42\">UK<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps6347 ss811\"><div><div class=\"ps2165 ss810\"><span class=\"f charStyle-1bac868e ps633\">Wind Scylla Ltd (formerly referred to as Seajacks 5 Ltd)<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11310 ss326\"><div><div class=\"ps2165 ss317\"><span class=\"f charStyle-2b5af115 ps42\">UK<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps6352 ss811\"><div><div class=\"ps2165 ss810\"><span class=\"f charStyle-1bac868e ps633\">Wind Keeper Ltd (formerly referred to as Seajacks 7 Ltd)<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11311 ss326\"><div><div class=\"ps2165 ss317\"><span class=\"f charStyle-2b5af115 ps42\">UK<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2211 ss811\"><div><div class=\"ps2165 ss810\"><span class=\"f charStyle-1bac868e ps633\">Seajacks 3 Japan LLC<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11312 ss326\"><div><div class=\"ps2165 ss317\"><span class=\"f charStyle-2b5af115 ps42\">Japan<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps688 ss811\"><div><div class=\"ps2165 ss810\"><span class=\"f charStyle-2b5af115 ps42\">Trading and Operations<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:14.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2102 ss811\"><div><div class=\"ps2165 ss810\"><span class=\"f charStyle-1bac868e ps633\">Cadeler UK Ltd (formerly referred to as Seajacks UK Ltd)<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11313 ss326\"><div><div class=\"ps2165 ss317\"><span class=\"f charStyle-2b5af115 ps42\">UK<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps798 ss811\"><div><div class=\"ps2165 ss810\"><span class=\"f charStyle-cb69ec08 ps633\">Cadeler UK Ltd Taiwan Branch (formerly referred as to Seajacks UK Ltd Taiwan Branch)<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11314 ss326\"><div><div class=\"ps2165 ss317\"><span class=\"f charStyle-2b5af115 ps42\">Taiwan<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps1052 ss811\"><div><div class=\"ps2165 ss810\"><span class=\"f charStyle-1bac868e ps633\">Seajacks US Inc.<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11315 ss326\"><div><div class=\"ps2165 ss317\"><span class=\"f charStyle-2b5af115 ps42\">USA<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps7649 ss811\"><div><div class=\"ps2165 ss810\"><span class=\"f charStyle-1bac868e ps633\">Seajacks Merman Marine Ltd<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11316 ss326\"><div><div class=\"ps2165 ss317\"><span class=\"f charStyle-2b5af115 ps42\">Bermuda<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps3772 ss811\"><div><div class=\"ps2165 ss810\"><span class=\"f charStyle-cb69ec08 ps633\">Cadeler Crewing Services Ltd (formerly referred to as Seajacks Crewing Services Ltd)<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11317 ss326\"><div><div class=\"ps2165 ss317\"><span class=\"f charStyle-2b5af115 ps42\">UK<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps9823 ss811\"><div><div class=\"ps2165 ss810\"><span class=\"f charStyle-cb69ec08 ps633\">Cadeler Management Services SARL<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11318 ss326\"><div><div class=\"ps2165 ss317\"><span class=\"f charStyle-2b5af115 ps42\">Monaco<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps4844 ss811\"><div><div class=\"ps2165 ss810\"><span class=\"f charStyle-1bac868e ps633\">Seajacks Japan LLC<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11319 ss326\"><div><div class=\"ps2165 ss317\"><span class=\"f charStyle-2b5af115 ps42\">Japan<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps6450 ss811\"><div><div class=\"ps2165 ss810\"><span class=\"f charStyle-2b5af115 ps42\">Investment holding entities<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps11320 ss811\"><div><div class=\"ps2165 ss810\"><span class=\"f charStyle-1bac868e ps633\">Wind MI Ltd<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11321 ss326\"><div><div class=\"ps2165 ss317\"><span class=\"f charStyle-2b5af115 ps42\">Marshall Islands<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps11322 ss811\"><div><div class=\"ps2165 ss810\"><span class=\"f charStyle-1bac868e ps633\">Cadeler Holdings Ltd (formerly referred to as Atlantis Investorco Ltd)<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11323 ss326\"><div><div class=\"ps2165 ss317\"><span class=\"f charStyle-2b5af115 ps42\">Bermuda<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps4041 ss811\"><div><div class=\"ps2165 ss810\"><span class=\"f charStyle-1bac868e ps633\">Atlantis Investorco Ltd<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11324 ss326\"><div><div class=\"ps2165 ss317\"><span class=\"f charStyle-2b5af115 ps42\">UK<span class=\"f ps43\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps11331 ss0\"><div class=\"ss119 ws0 ps1056\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:336pt\"></td><td style=\"padding:0;width:78pt\"></td></tr><tr style=\"height:14.25pt\"><td style=\"background-color:#225f78;padding:0\"><div class=\"ps40 ss811\"><div><div class=\"ps4278 ss810\"><span class=\"f charStyle-23b55a92 ps42\">Entities<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#225f78;padding:0\"><div class=\"ps11301 ss326\"><div><div class=\"ps4278 ss317\"><span class=\"f charStyle-23b55a92 ps42\">Country<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps4283 ss812\"><div><div class=\"ps44 ss810\"><span class=\"f charStyle-2b5af115 ps42\">Investment holding entities (continuation)<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps2567 ss812\"><div><div class=\"ps44 ss810\"><span class=\"f charStyle-1bac868e ps633\">Cadeler International Ltd (formerly referred to as Seajacks International Ltd)<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11327 ss329\"><div><div class=\"ps44 ss317\"><span class=\"f charStyle-1bac868e ps42\">UK<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9776 ss812\"><div><div class=\"ps44 ss810\"><span class=\"f charStyle-2b5af115 ps42\">Dormant entities<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps2065 ss812\"><div><div class=\"ps44 ss810\"><span class=\"f charStyle-1bac868e ps633\">SBI Chartering and Trading Ltd<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11328 ss329\"><div><div class=\"ps44 ss317\"><span class=\"f charStyle-1bac868e ps42\">Marshall Islands<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps2256 ss812\"><div><div class=\"ps44 ss810\"><span class=\"f charStyle-1bac868e ps633\">SBI Macarena Shipping Company Ltd<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11329 ss329\"><div><div class=\"ps44 ss317\"><span class=\"f charStyle-1bac868e ps42\">Marshall Islands<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps2262 ss812\"><div><div class=\"ps44 ss810\"><span class=\"f charStyle-1bac868e ps633\">SBI Taurus Shipping Company Ltd<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11330 ss329\"><div><div class=\"ps44 ss317\"><span class=\"f charStyle-1bac868e ps42\">Marshall Islands<span class=\"f ps43\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps11335 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">During </span><span class=\"f charStyle-c1b8f9f6 ps11333\">2025</span><span class=\"f charStyle-c1b8f9f6 ps11334\">, several entities were dissolved: </span></div><div class=\"ps11347 ss0\"><div class=\"ss119 ws0 ps1056\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:336pt\"></td><td style=\"padding:0;width:78pt\"></td></tr><tr style=\"height:15pt\"><td style=\"background-color:#206079;padding:0\"><div class=\"ps40 ss813\"><div><div class=\"ps11336 ss810\"><span class=\"f charStyle-23b55a92 ps42\">Entities<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps11301 ss814\"><div><div class=\"ps11336 ss317\"><span class=\"f charStyle-23b55a92 ps42\">Country<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps4774 ss812\"><div><div class=\"ps44 ss810\"><span class=\"f charStyle-2b5af115 ps42\">Investment holding entities<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps11337 ss812\"><div><div class=\"ps44 ss810\"><span class=\"f charStyle-1bac868e ps633\">Atlantis Equityco Ltd<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11338 ss329\"><div><div class=\"ps44 ss317\"><span class=\"f charStyle-1bac868e ps42\">UK<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps2060 ss812\"><div><div class=\"ps44 ss810\"><span class=\"f charStyle-1bac868e ps633\">Atlantis Midco Ltd<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11339 ss329\"><div><div class=\"ps44 ss317\"><span class=\"f charStyle-1bac868e ps42\">UK<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps2158 ss812\"><div><div class=\"ps44 ss810\"><span class=\"f charStyle-2b5af115 ps42\">Dormant entities<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps2188 ss812\"><div><div class=\"ps44 ss810\"><span class=\"f charStyle-1bac868e ps633\">SBI Parapara Shipping Company Ltd<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11340 ss329\"><div><div class=\"ps44 ss317\"><span class=\"f charStyle-1bac868e ps42\">Marshall Islands<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps5658 ss812\"><div><div class=\"ps44 ss810\"><span class=\"f charStyle-1bac868e ps633\">SBI Pegasus Shipping Company Ltd<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11341 ss329\"><div><div class=\"ps44 ss317\"><span class=\"f charStyle-1bac868e ps42\">Marshall Islands<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps5664 ss812\"><div><div class=\"ps44 ss810\"><span class=\"f charStyle-1bac868e ps633\">SBI Perseus Shipping Company Ltd<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11342 ss329\"><div><div class=\"ps44 ss317\"><span class=\"f charStyle-1bac868e ps42\">Marshall Islands<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps1818 ss812\"><div><div class=\"ps44 ss810\"><span class=\"f charStyle-1bac868e ps633\">Eneti (Bermuda) Ltd<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11343 ss329\"><div><div class=\"ps44 ss317\"><span class=\"f charStyle-1bac868e ps42\">Bermuda<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps11344 ss812\"><div><div class=\"ps44 ss810\"><span class=\"f charStyle-1bac868e ps633\">Seajacks 2 Ltd<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11345 ss329\"><div><div class=\"ps44 ss317\"><span class=\"f charStyle-1bac868e ps42\">UK<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps6352 ss812\"><div><div class=\"ps44 ss810\"><span class=\"f charStyle-1bac868e ps633\">Seajacks 3 Ltd<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11311 ss329\"><div><div class=\"ps44 ss317\"><span class=\"f charStyle-1bac868e ps42\">UK<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps9487 ss812\"><div><div class=\"ps44 ss810\"><span class=\"f charStyle-1bac868e ps633\">Seajacks 8 Limited<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11346 ss329\"><div><div class=\"ps44 ss317\"><span class=\"f charStyle-1bac868e ps42\">UK<span class=\"f ps43\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-524": {
   "value": "<div class=\"ps6993 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies<span id=\"i5bd065fe8d5945acb03e5c28945340b2\"></span></span></div><div class=\"ps269 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps186\">Cost of sales and administrative expenses</span></div><div class=\"ps1547 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Cost of sales consists of expenses directly attributable to the Group\u2019s core activities, including seafarers </span></div><div class=\"ps1548 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">payroll, vessel depreciation, and the operation and maintenance of vessels.</span></div><div class=\"ps3839 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Administrative expenses, which include administrative staff costs, share-based compensation, management </span></div><div class=\"ps1780 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">costs, office expenses, business combination transaction costs and other administration-related expenses, </span></div><div class=\"ps1781 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">are expensed as they are incurred.</span></div><div class=\"ps8159 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps918\">Equity-settled transactions<span id=\"ide32f3e76d934c0fb38aac612e53c8e7\"></span></span></div><div class=\"ps8160 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">The cost of equity-settled transactions is determined by the fair value </span></div><div class=\"ps8161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">at the date on which the grant is made using an appropriate </span></div><div class=\"ps8162 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">valuation model. That cost is recognised as employee benefits </span></div><div class=\"ps4214 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">expenses, together with a corresponding increase in equity (retained </span></div><div class=\"ps4215 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">earnings), over the period in which the service and, where applicable, </span></div><div class=\"ps4216 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">the performance conditions are fulfilled (the vesting period). The </span></div><div class=\"ps4217 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">cumulative expense recognised for equity-settled transactions at each </span></div><div class=\"ps4218 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">reporting date until the vesting date reflects both the extent to which </span></div><div class=\"ps3246 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">the vesting period has expired and the Group\u2019s best estimate of the </span></div><div class=\"ps8163 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">number of equity instruments that will ultimately vest. The expense or </span></div><div class=\"ps8164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">credit in the statement of profit or loss for a period represents the </span></div><div class=\"ps1932 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">movement in cumulative expense recognised at the beginning and </span></div><div class=\"ps1933 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">end of that period.</span></div><div class=\"ps7019 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Service and non-market performance conditions are not considered </span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">when determining the grant date fair value of awards. Instead, the </span></div><div class=\"ps7146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">likelihood of these conditions being met is assessed as part of the </span></div><div class=\"ps7149 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Group\u2019s best estimate of the number of equity instruments that will </span></div><div class=\"ps7564 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">ultimately vest. Market performance conditions are reflected directly </span></div><div class=\"ps7565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">in the grant date fair value.</span></div><div class=\"ps7103 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Any other conditions attached to an award, that do not include an </span></div><div class=\"ps7104 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">associated service requirement, are considered to be non-vesting </span></div><div class=\"ps7150 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">conditions. Non-vesting conditions are reflected in the fair value of </span></div><div class=\"ps7151 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">an award and result in an immediate expensing, unless there are also </span></div><div class=\"ps7152 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">service and/or performance conditions.</span></div><div class=\"ps5460 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">No expense is recognised for awards that do not ultimately vest as a </span></div><div class=\"ps7025 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">result non-market performance and/or service conditions not being </span></div><div class=\"ps7026 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">met. </span></div><div class=\"ps5463 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Where awards include a market or non-vesting condition, the </span></div><div class=\"ps5464 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">transactions are treated as vested regardless of whether the market </span></div><div class=\"ps5465 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">or non-vesting condition is satisfied, provided that all other </span></div><div class=\"ps5466 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">performance and/or service conditions are satisfied.</span></div><div class=\"ps7028 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The dilutive effect of outstanding options is reflected as additional </span></div><div class=\"ps5468 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">share dilution in the computation of diluted earnings per share in a </span></div><div class=\"ps5469 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">loss situation only where the loss per share is reduced.</span></div><div class=\"ps9621 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Lease liabilities<span id=\"i906fb04c707e4a55b0265cca42759d6e\"></span></span></div><div class=\"ps2679 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">At the inception of a contract, the Group assesses whether the contract contains a lease. A contract contains </span></div><div class=\"ps2680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">a lease if it conveys the right to control the use of an identified asset for a period of time in exchange for </span></div><div class=\"ps2681 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">consideration. Reassessment is required only when the terms and conditions of the contract are changed.</span></div><div class=\"ps6983 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">At the commencement date of the lease, the Group recognises lease liabilities measured at the present </span></div><div class=\"ps9283 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">value of lease payments to be made over the lease term. The lease payments include fixed payments </span></div><div class=\"ps9289 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(including in-substance fixed payments) less any lease incentives receivable, variable lease payments that </span></div><div class=\"ps9294 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">depend on an index or a rate, and amounts expected to be paid under residual value guarantees.</span></div><div class=\"ps2983 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Variable lease payments that do not depend on an index or a rate are recognised as expenses in the period </span></div><div class=\"ps2984 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">in which the event or condition that triggers the payment occurs. Utilisation based lease fees are classified <span class=\"f ps43\"> </span></span></div><div class=\"ps2985 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">as variable lease payments.</span></div><div class=\"ps2986 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the </span></div><div class=\"ps2987 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">lease commencement date, as the interest rate implicit in the lease is not readily determinable. After the </span></div><div class=\"ps2988 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">commencement date, the carrying amount of lease liabilities is increased to reflect the accretion of interest </span></div><div class=\"ps2989 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">and reduced by lease payments made.</span></div><div class=\"ps2990 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the </span></div><div class=\"ps2991 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an </span></div><div class=\"ps3118 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">index or rate used to determine such lease payments) or a change in the assessment of an option to </span></div><div class=\"ps3119 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">purchase the underlying asset.</span></div><div class=\"ps9626 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Short-term and low-value leases<span id=\"i47c0a14c77d249589203643c44fd375a\"></span></span></div><div class=\"ps9627 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group has elected not to recognise right-of-use assets and lease liabilities for short-term leases with </span></div><div class=\"ps9369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">lease terms of </span><span class=\"f charStyle-c1b8f9f6 ps7514\">twelve months</span><span class=\"f charStyle-c1b8f9f6 ps9628\"> or less, and for low-value leases. Lease payments relating to these leases are </span></div><div class=\"ps9370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">expensed to profit or loss on a straight-line basis over the lease term. Short-term and low-value leases </span></div><div class=\"ps9371 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">include cars, coffee machines, office premises and AV equipment.</span></div><div class=\"ps9760 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies<span id=\"id45d7b41ad8e457a85cd27d16fcb0747\"></span></span></div><div class=\"ps9761 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Financial assets<span id=\"i84d16ac46774406bb2607018955ce9e3\"></span></span></div><div class=\"ps9762 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The classification of financial assets depends on the Group\u2019s business model for managing the financial </span></div><div class=\"ps9763 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">assets as well as the contractual terms of the cash flows of the respective financial assets.</span></div><div class=\"ps3382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1760\">(1)<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1761\">At initial recognition: the Group measures a financial asset at fair value, plus, in the case of a </span></div><div class=\"ps3384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">financial asset not measured at fair value through profit or loss, transaction costs that are directly </span></div><div class=\"ps3385 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">attributable to the acquisition of the financial assets. Transaction costs of financial assets carried at </span></div><div class=\"ps3386 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">fair value through profit or loss are recognised as an expense in profit or loss.</span></div><div class=\"ps2680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1760\">(1i)<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1761\">At subsequent measurement: the Group\u2019s financial assets mainly comprise cash and bank balances, </span></div><div class=\"ps2681 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">trade receivables and other current assets.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-525": {
   "value": "<div class=\"ps7713 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Auditor remuneration<span id=\"id9103bba1cc74d4e8758313f65aa3bfe\"></span></span></div><div class=\"ps7245 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Administrative expenses include fees to the auditors appointed by the shareholder at the Annual General </span></div><div class=\"ps7714 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Meeting:</span></div><div class=\"ps7730 ss0\"><div class=\"ss119 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:245.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss96\"><div><div class=\"ps7604 ss95\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6193 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-281247bf ps6302\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7673 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-054ead99 ps6302\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6040 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-054ead99 ps6302\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps442 ss96\"><div><div class=\"ps438 ss95\"><span class=\"f charStyle-1bac868e ps633\">Statutory audit<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7715 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">1,748</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7716 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">2,016</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7717 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6318\">474</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps463 ss96\"><div><div class=\"ps438 ss95\"><span class=\"f charStyle-1bac868e ps633\">Other assurance services<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7718 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.52pt\"></span></span><span class=\"ps6363\">34</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7719 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6318\">264</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7720 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">1,608</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5507 ss96\"><div><div class=\"ps438 ss95\"><span class=\"f charStyle-1bac868e ps633\">Tax services<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7721 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.52pt\"></span></span><span class=\"ps6363\">25</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7723 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.37pt\"></span></span><span class=\"ps7722\">9</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7724 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.37pt\"></span></span><span class=\"ps7722\">2</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5516 ss96\"><div><div class=\"ps438 ss95\"><span class=\"f charStyle-1bac868e ps633\">Other services<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6221 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6333\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7725 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.52pt\"></span></span><span class=\"ps6363\">22</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7726 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6318\">606</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5521 ss96\"><div><div class=\"ps438 ss95\"><span class=\"f charStyle-b07b4361 ps42\">Total<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7727 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.11pt\"></span></span><span class=\"ps7544\">1,807</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7728 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.11pt\"></span></span><span class=\"ps7544\">2,311</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7729 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.11pt\"></span></span><span class=\"ps7544\">2,690</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps2384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Statutory audit services consist of fees for professional services rendered by </span><span class=\"f charStyle-c1b8f9f6 ps7731\">Ernst &amp; Young</span><span class=\"f charStyle-c1b8f9f6 ps7732\"> for the audit of </span></div><div class=\"ps2385 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the annual consolidated financial statements and services that are provided by the auditor in connection </span></div><div class=\"ps2386 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">with the statutory audit. </span></div><div class=\"ps7737 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">For </span><span class=\"f charStyle-c1b8f9f6 ps7733\">2025</span><span class=\"f charStyle-c1b8f9f6 ps7734\"> and </span><span class=\"f charStyle-c1b8f9f6 ps7735\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7736\">, the fee includes services related to the issuance of audit report on the design and </span></div><div class=\"ps7128 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">operating effectiveness of the Company's internal controls over financial reporting (SOX404(b)).</span></div><div class=\"ps7738 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">Other assurance services consist of reviews of interim financial information and, for 2023, include PCAOB </span></div><div class=\"ps7739 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">re-audits for 2021 and 2022, as well as assurance reports in respect of pro forma financial information in </span></div><div class=\"ps3205 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">connection with regulatory filings. </span></div><div class=\"ps6998 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">Tax services consist of tax compliance services. </span></div><div class=\"ps7740 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">Other services consist of services provided for other permitted services, including fees for work performed </span></div><div class=\"ps7741 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">in connection with the US listing in December 2023.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-528": {
   "value": "<div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 5</span></div><div class=\"ps6906 ss0\" style=\"font-size:16pt\"><span class=\"f charStyle-940783b5 ps186\">N<span id=\"iaeaecf411e4a4827b4480d589e368f04\"></span></span><span class=\"f charStyle-940783b5 ps7743\">et Other Operating Income and Expenses</span></div><div class=\"ps7670 ss0\"><div class=\"ss119 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:189pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss618\"><div><div class=\"ps7604 ss616\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7672 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-054ead99 ps6301\">Note<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6193 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-281247bf ps6302\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7673 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-054ead99 ps6302\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6040 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-054ead99 ps6302\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps442 ss620\"><div><div class=\"ps2564 ss616\"><span class=\"f charStyle-1bac868e ps633\">Other operating income<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7715 ss579\"><div><div class=\"ps2564 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">8,770</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7716 ss579\"><div><div class=\"ps2564 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">2,286</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7717 ss579\"><div><div class=\"ps2564 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">3,000</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps3733 ss620\"><div><div class=\"ps2564 ss616\"><span class=\"f charStyle-1bac868e ps633\">Other operating expenses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6271 ss579\"><div><div class=\"ps2564 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6333\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7745 ss579\"><div><div class=\"ps2564 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.25pt\"></span></span><span class=\"ps7744\">(251)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7746 ss579\"><div><div class=\"ps2564 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:20.45pt\"></span></span><span class=\"ps7533\">(2,863)</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps1807 ss620\"><div><div class=\"ps2564 ss616\"><span class=\"f charStyle-b07b4361 ps42\">Net other operating income and expenses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7747 ss579\"><div><div class=\"ps2564 ss337\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.11pt\"></span></span><span class=\"ps7544\">8,770</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7748 ss579\"><div><div class=\"ps2564 ss337\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.11pt\"></span></span><span class=\"ps7544\">2,035</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7750 ss579\"><div><div class=\"ps2564 ss337\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:31.71pt\"></span></span><span class=\"ps7749\">137</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps3491 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Other operating income and expenses for </span><span class=\"f charStyle-c1b8f9f6 ps7751\">2025</span><span class=\"f charStyle-c1b8f9f6 ps7752\"> includes approximately EUR </span><span class=\"f charStyle-c1b8f9f6 ps7753\">5\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7754\"> in accelerated </span></div><div class=\"ps7755 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">payments relating to the early termination of a contract for operations and advisory services. </span></div><div class=\"ps7757 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Other operating income and expenses for </span><span class=\"f charStyle-c1b8f9f6 ps7751\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7756\"> primarily consist of management fees earned from the </span></div><div class=\"ps7758 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">operation of third-party vessels.</span></div><div class=\"ps7759 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Other operating income and expenses for 2023 include the net gain from the sale of the main cranes and </span></div><div class=\"ps7760 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">spare parts of both O-class vessels. The contract signed for the sale of both main cranes states a purchase </span></div><div class=\"ps7764 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">price of </span><span class=\"f charStyle-c1b8f9f6 ps7761\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7762\"> </span><span class=\"f charStyle-c1b8f9f6 ps4513\">1.5\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7763\"> for each main crane. In the case of Wind Orca, the carrying amount of the main </span></div><div class=\"ps7765 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">crane had been written down, reflecting the value that was expected from the disposal of the assets. Thus, </span></div><div class=\"ps7770 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">an impairment loss of </span><span class=\"f charStyle-c1b8f9f6 ps7766\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7767\"> </span><span class=\"f charStyle-c1b8f9f6 ps7768\">5\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7769\"> was reflected in the statement of profit and loss. The Wind Osprey </span></div><div class=\"ps7771 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">main crane had been kept at its carrying amount since there was a gain from the disposal. The sale of both </span></div><div class=\"ps7772 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">main cranes was driven by the main crane upgrades to the O-class vessels.</span></div><div class=\"ps7773 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies<span id=\"ia47b4fd9e128497db31db7f4383e5de6\"></span></span></div><div class=\"ps7774 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Other operating income and expenses, include transactions not related to the operations of the Group, </span></div><div class=\"ps7775 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">such as, gains and losses on the sale of non-current assets. Such transactions are generally recognised </span></div><div class=\"ps7776 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">when it is probable that the benefits and losses associated with the transaction will flow to the Company </span></div><div class=\"ps7777 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">and when the significant risks and rewards have been transferred to the buyer (generally when the </span></div><div class=\"ps7778 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">transaction is finalised).</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-527": {
   "value": "<div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 5</span></div><div class=\"ps6906 ss0\" style=\"font-size:16pt\"><span class=\"f charStyle-940783b5 ps186\">N<span id=\"iaeaecf411e4a4827b4480d589e368f04\"></span></span><span class=\"f charStyle-940783b5 ps7743\">et Other Operating Income and Expenses</span></div><div class=\"ps7670 ss0\"><div class=\"ss119 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:189pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss618\"><div><div class=\"ps7604 ss616\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7672 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-054ead99 ps6301\">Note<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6193 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-281247bf ps6302\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7673 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-054ead99 ps6302\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6040 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-054ead99 ps6302\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps442 ss620\"><div><div class=\"ps2564 ss616\"><span class=\"f charStyle-1bac868e ps633\">Other operating income<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7715 ss579\"><div><div class=\"ps2564 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">8,770</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7716 ss579\"><div><div class=\"ps2564 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">2,286</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7717 ss579\"><div><div class=\"ps2564 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">3,000</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps3733 ss620\"><div><div class=\"ps2564 ss616\"><span class=\"f charStyle-1bac868e ps633\">Other operating expenses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6271 ss579\"><div><div class=\"ps2564 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6333\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7745 ss579\"><div><div class=\"ps2564 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.25pt\"></span></span><span class=\"ps7744\">(251)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7746 ss579\"><div><div class=\"ps2564 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:20.45pt\"></span></span><span class=\"ps7533\">(2,863)</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps1807 ss620\"><div><div class=\"ps2564 ss616\"><span class=\"f charStyle-b07b4361 ps42\">Net other operating income and expenses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7747 ss579\"><div><div class=\"ps2564 ss337\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.11pt\"></span></span><span class=\"ps7544\">8,770</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7748 ss579\"><div><div class=\"ps2564 ss337\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.11pt\"></span></span><span class=\"ps7544\">2,035</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7750 ss579\"><div><div class=\"ps2564 ss337\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:31.71pt\"></span></span><span class=\"ps7749\">137</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps3491 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Other operating income and expenses for </span><span class=\"f charStyle-c1b8f9f6 ps7751\">2025</span><span class=\"f charStyle-c1b8f9f6 ps7752\"> includes approximately EUR </span><span class=\"f charStyle-c1b8f9f6 ps7753\">5\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7754\"> in accelerated </span></div><div class=\"ps7755 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">payments relating to the early termination of a contract for operations and advisory services. </span></div><div class=\"ps7757 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Other operating income and expenses for </span><span class=\"f charStyle-c1b8f9f6 ps7751\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7756\"> primarily consist of management fees earned from the </span></div><div class=\"ps7758 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">operation of third-party vessels.</span></div><div class=\"ps7759 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Other operating income and expenses for 2023 include the net gain from the sale of the main cranes and </span></div><div class=\"ps7760 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">spare parts of both O-class vessels. The contract signed for the sale of both main cranes states a purchase </span></div><div class=\"ps7764 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">price of </span><span class=\"f charStyle-c1b8f9f6 ps7761\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7762\"> </span><span class=\"f charStyle-c1b8f9f6 ps4513\">1.5\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7763\"> for each main crane. In the case of Wind Orca, the carrying amount of the main </span></div><div class=\"ps7765 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">crane had been written down, reflecting the value that was expected from the disposal of the assets. Thus, </span></div><div class=\"ps7770 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">an impairment loss of </span><span class=\"f charStyle-c1b8f9f6 ps7766\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7767\"> </span><span class=\"f charStyle-c1b8f9f6 ps7768\">5\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7769\"> was reflected in the statement of profit and loss. The Wind Osprey </span></div><div class=\"ps7771 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">main crane had been kept at its carrying amount since there was a gain from the disposal. The sale of both </span></div><div class=\"ps7772 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">main cranes was driven by the main crane upgrades to the O-class vessels.</span></div><div class=\"ps7773 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies<span id=\"ia47b4fd9e128497db31db7f4383e5de6\"></span></span></div><div class=\"ps7774 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Other operating income and expenses, include transactions not related to the operations of the Group, </span></div><div class=\"ps7775 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">such as, gains and losses on the sale of non-current assets. Such transactions are generally recognised </span></div><div class=\"ps7776 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">when it is probable that the benefits and losses associated with the transaction will flow to the Company </span></div><div class=\"ps7777 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">and when the significant risks and rewards have been transferred to the buyer (generally when the </span></div><div class=\"ps7778 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">transaction is finalised).</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-526": {
   "value": "<div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 5</span></div><div class=\"ps6906 ss0\" style=\"font-size:16pt\"><span class=\"f charStyle-940783b5 ps186\">N<span id=\"iaeaecf411e4a4827b4480d589e368f04\"></span></span><span class=\"f charStyle-940783b5 ps7743\">et Other Operating Income and Expenses</span></div><div class=\"ps7670 ss0\"><div class=\"ss119 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:189pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss618\"><div><div class=\"ps7604 ss616\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7672 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-054ead99 ps6301\">Note<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6193 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-281247bf ps6302\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7673 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-054ead99 ps6302\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6040 ss619\"><div><div class=\"ps438 ss337\"><span class=\"f charStyle-054ead99 ps6302\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps442 ss620\"><div><div class=\"ps2564 ss616\"><span class=\"f charStyle-1bac868e ps633\">Other operating income<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7715 ss579\"><div><div class=\"ps2564 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">8,770</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7716 ss579\"><div><div class=\"ps2564 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">2,286</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7717 ss579\"><div><div class=\"ps2564 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">3,000</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps3733 ss620\"><div><div class=\"ps2564 ss616\"><span class=\"f charStyle-1bac868e ps633\">Other operating expenses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6271 ss579\"><div><div class=\"ps2564 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6333\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7745 ss579\"><div><div class=\"ps2564 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.25pt\"></span></span><span class=\"ps7744\">(251)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7746 ss579\"><div><div class=\"ps2564 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:20.45pt\"></span></span><span class=\"ps7533\">(2,863)</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps1807 ss620\"><div><div class=\"ps2564 ss616\"><span class=\"f charStyle-b07b4361 ps42\">Net other operating income and expenses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7747 ss579\"><div><div class=\"ps2564 ss337\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.11pt\"></span></span><span class=\"ps7544\">8,770</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7748 ss579\"><div><div class=\"ps2564 ss337\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.11pt\"></span></span><span class=\"ps7544\">2,035</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7750 ss579\"><div><div class=\"ps2564 ss337\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:31.71pt\"></span></span><span class=\"ps7749\">137</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps3491 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Other operating income and expenses for </span><span class=\"f charStyle-c1b8f9f6 ps7751\">2025</span><span class=\"f charStyle-c1b8f9f6 ps7752\"> includes approximately EUR </span><span class=\"f charStyle-c1b8f9f6 ps7753\">5\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7754\"> in accelerated </span></div><div class=\"ps7755 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">payments relating to the early termination of a contract for operations and advisory services. </span></div><div class=\"ps7757 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Other operating income and expenses for </span><span class=\"f charStyle-c1b8f9f6 ps7751\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7756\"> primarily consist of management fees earned from the </span></div><div class=\"ps7758 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">operation of third-party vessels.</span></div><div class=\"ps7759 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Other operating income and expenses for 2023 include the net gain from the sale of the main cranes and </span></div><div class=\"ps7760 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">spare parts of both O-class vessels. The contract signed for the sale of both main cranes states a purchase </span></div><div class=\"ps7764 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">price of </span><span class=\"f charStyle-c1b8f9f6 ps7761\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7762\"> </span><span class=\"f charStyle-c1b8f9f6 ps4513\">1.5\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7763\"> for each main crane. In the case of Wind Orca, the carrying amount of the main </span></div><div class=\"ps7765 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">crane had been written down, reflecting the value that was expected from the disposal of the assets. Thus, </span></div><div class=\"ps7770 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">an impairment loss of </span><span class=\"f charStyle-c1b8f9f6 ps7766\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7767\"> </span><span class=\"f charStyle-c1b8f9f6 ps7768\">5\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7769\"> was reflected in the statement of profit and loss. The Wind Osprey </span></div><div class=\"ps7771 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">main crane had been kept at its carrying amount since there was a gain from the disposal. The sale of both </span></div><div class=\"ps7772 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">main cranes was driven by the main crane upgrades to the O-class vessels.</span></div><div class=\"ps7773 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies<span id=\"ia47b4fd9e128497db31db7f4383e5de6\"></span></span></div><div class=\"ps7774 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Other operating income and expenses, include transactions not related to the operations of the Group, </span></div><div class=\"ps7775 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">such as, gains and losses on the sale of non-current assets. Such transactions are generally recognised </span></div><div class=\"ps7776 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">when it is probable that the benefits and losses associated with the transaction will flow to the Company </span></div><div class=\"ps7777 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">and when the significant risks and rewards have been transferred to the buyer (generally when the </span></div><div class=\"ps7778 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">transaction is finalised).</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-529": {
   "value": "<div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 6</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Employee Compensation<span id=\"i8d8ad33b79984ae59384330ee8f2651b\"></span></span></div><div class=\"ps7781 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Onshore - presented within administrative expenses<span id=\"ie7fc78a689484c6b8e5f52ffcbd5013b\"></span></span></div><div class=\"ps7809 ss0\"><div class=\"ss615 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:194.25pt\"></td><td style=\"padding:0;width:54.75pt\"></td><td style=\"padding:0;width:54.75pt\"></td><td style=\"padding:0;width:54.75pt\"></td><td style=\"padding:0;width:54.75pt\"></td></tr><tr style=\"height:12.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss621\"><div><div class=\"ps6268 ss580\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7247 ss470\"><div><div class=\"ps5116 ss454\"><span class=\"f charStyle-054ead99 ps7782\">Note<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7783 ss470\"><div><div class=\"ps5116 ss454\"><span class=\"f charStyle-281247bf ps4635\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7784 ss470\"><div><div class=\"ps5116 ss454\"><span class=\"f charStyle-054ead99 ps4635\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6305 ss470\"><div><div class=\"ps5116 ss454\"><span class=\"f charStyle-054ead99 ps4635\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4675 ss622\"><div><div class=\"ps2564 ss580\"><span class=\"f charStyle-1bac868e ps633\">Wages and Salaries<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7786 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.52pt\"></span></span><span class=\"ps7785\">37,322</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5127 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.52pt\"></span></span><span class=\"ps7785\">29,340</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7787 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.52pt\"></span></span><span class=\"ps7785\">16,957</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"padding:0\"><div class=\"ps6208 ss622\"><div><div class=\"ps7201 ss580\"><span class=\"f charStyle-1bac868e ps633\">Employer's contribution to defined <span class=\"f ps43\"> </span></span></div><div class=\"ps7202 ss580\"><span class=\"f charStyle-1bac868e ps633\">contribution plans</span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7789 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.37pt\"></span></span><span class=\"ps7788\">3,765</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7790 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.37pt\"></span></span><span class=\"ps7788\">1,635</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6319 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7791\">847</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"padding:0\"><div class=\"ps7792 ss622\"><div><div class=\"ps2564 ss580\"><span class=\"f charStyle-1bac868e ps633\">Share based payment expense<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7794 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-e5ec5c44 ps7793\">7<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7795 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.37pt\"></span></span><span class=\"ps7788\">2,071</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7796 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.37pt\"></span></span><span class=\"ps7788\">1,662</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7797 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.37pt\"></span></span><span class=\"ps7788\">1,134</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7798 ss622\"><div><div class=\"ps2564 ss580\"><span class=\"f charStyle-1bac868e ps633\">Other short-term benefits<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7799 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.37pt\"></span></span><span class=\"ps7788\">3,124</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7800 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7791\">495</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7801 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7791\">611</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2201 ss622\"><div><div class=\"ps2564 ss580\"><span class=\"f charStyle-b07b4361 ps42\">Total onshore employee compensation<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7803 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:17.44pt\"></span></span><span class=\"ps7802\">46,282</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7804 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:17.44pt\"></span></span><span class=\"ps7802\">33,132</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7805 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:17.44pt\"></span></span><span class=\"ps7802\">19,549</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps6295 ss622\"><div><div class=\"ps2564 ss580\"><span class=\"f charStyle-1bac868e ps633\">Average number of employees<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7806 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7791\">307</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7807 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7791\">242</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7808 ss623\"><div><div class=\"ps2564 ss454\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7791\">113</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7814 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In 31 December 2023, employee compensation includes </span><span class=\"f charStyle-c1b8f9f6 ps7810\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7811\"> </span><span class=\"f charStyle-c1b8f9f6 ps7812\">660\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7813\"> related to bonus paid, included </span></div><span class=\"f charStyle-c1b8f9f6 ps186\">in transaction costs. For further information refer to </span><span class=\"f charStyle-c1b8f9f6 ps7815\">Note 4</span><span class=\"f charStyle-c1b8f9f6 ps7816\">, Administrative Expenses.</span><div class=\"ps7781 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps2468\">Offshore - presented within cost of sales<span id=\"id2cb925291854c169160ab294622a4c8\"></span></span></div><div class=\"ps7809 ss0\"><div class=\"ss119 ws0 ps2915\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:228pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:50.25pt\"></td><td style=\"padding:0;width:50.25pt\"></td><td style=\"padding:0;width:50.25pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss428\"><div><div class=\"ps7604 ss427\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7823 ss624\"><div><div class=\"ps4431 ss450\"><span class=\"f charStyle-054ead99 ps7822\">Note<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7824 ss57\"><div><div class=\"ps4431 ss51\"><span class=\"f charStyle-281247bf ps6781\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7825 ss57\"><div><div class=\"ps4431 ss51\"><span class=\"f charStyle-054ead99 ps6781\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7826 ss57\"><div><div class=\"ps4431 ss51\"><span class=\"f charStyle-054ead99 ps6781\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps442 ss428\"><div><div class=\"ps438 ss427\"><span class=\"f charStyle-1bac868e ps633\">Wages and Salaries<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7828 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:15.02pt\"></span></span><span class=\"ps7827\">46,008</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7829 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:15.02pt\"></span></span><span class=\"ps7827\">30,043</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7830 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:15.02pt\"></span></span><span class=\"ps7827\">14,056</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps463 ss428\"><div><div class=\"ps438 ss427\"><span class=\"f charStyle-1bac868e ps633\">Employer's contribution to defined contribution plans<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7832 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7831\">3,557</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7833 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7831\">2,059</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7834 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7831\">1,124</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5507 ss428\"><div><div class=\"ps438 ss427\"><span class=\"f charStyle-1bac868e ps633\">Other short-term benefits<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7836 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7835\">523</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7837 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7835\">183</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7838 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7835\">741</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5516 ss428\"><div><div class=\"ps438 ss427\"><span class=\"f charStyle-b07b4361 ps42\">Total offshore employee compensation<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7840 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:12.94pt\"></span></span><span class=\"ps7839\">50,088</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7841 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:12.94pt\"></span></span><span class=\"ps7839\">32,285</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7842 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:12.94pt\"></span></span><span class=\"ps7839\">15,921</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5521 ss428\"><div><div class=\"ps438 ss427\"><span class=\"f charStyle-1bac868e ps633\">Average number of employees<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7843 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7835\">586</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7844 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7835\">364</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7845 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7835\">182</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7846 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps2468\">Total<span id=\"i99e227df99624d4e8e1fce758cf46cb6\"></span></span></div><div class=\"ps7870 ss0\"><div class=\"ss119 ws0 ps2915\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:228pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:50.25pt\"></td><td style=\"padding:0;width:50.25pt\"></td><td style=\"padding:0;width:50.25pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss625\"><div><div class=\"ps750 ss427\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7823 ss466\"><div><div class=\"ps44 ss450\"><span class=\"f charStyle-054ead99 ps7822\">Note<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7824 ss626\"><div><div class=\"ps44 ss51\"><span class=\"f charStyle-281247bf ps6781\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7825 ss626\"><div><div class=\"ps44 ss51\"><span class=\"f charStyle-054ead99 ps6781\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7826 ss626\"><div><div class=\"ps44 ss51\"><span class=\"f charStyle-054ead99 ps6781\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps46 ss428\"><div><div class=\"ps438 ss427\"><span class=\"f charStyle-1bac868e ps633\">Wages and Salaries<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7847 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:15.02pt\"></span></span><span class=\"ps7827\">83,330</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7848 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:15.02pt\"></span></span><span class=\"ps7827\">59,383</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7849 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:15.02pt\"></span></span><span class=\"ps7827\">31,013</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps634 ss428\"><div><div class=\"ps438 ss427\"><span class=\"f charStyle-1bac868e ps633\">Employer's contribution to defined contribution plans<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7850 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7831\">7,322</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7851 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7831\">3,694</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7852 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7831\">1,971</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5266 ss428\"><div><div class=\"ps438 ss427\"><span class=\"f charStyle-1bac868e ps633\">Share based payment expense<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7854 ss624\"><div><div class=\"ps438 ss450\"><span class=\"f charStyle-e5ec5c44 ps7853\">7<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7855 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7831\">2,071</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7856 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7831\">1,662</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7857 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7831\">1,134</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2072 ss428\"><div><div class=\"ps438 ss427\"><span class=\"f charStyle-1bac868e ps633\">Other short-term benefits<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7858 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7831\">3,647</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7859 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7835\">678</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7860 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7831\">1,352</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps770 ss428\"><div><div class=\"ps438 ss427\"><span class=\"f charStyle-b07b4361 ps42\">Total employee compensation<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7861 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:12.94pt\"></span></span><span class=\"ps7839\">96,370</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7862 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:12.94pt\"></span></span><span class=\"ps7839\">65,417</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7863 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:12.94pt\"></span></span><span class=\"ps7839\">35,470</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5151 ss428\"><div><div class=\"ps438 ss427\"><span class=\"f charStyle-1bac868e ps633\">Average number of full time employees<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7864 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7835\">893</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7865 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7835\">606</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7866 ss57\"><div><div class=\"ps438 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7835\">295</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps7696 ss627\"><div><div class=\"ps2693 ss427\"><span class=\"f charStyle-cb69ec08 ps633\">Number of employees at the end of the reporting period<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7867 ss628\"><div><div class=\"ps2693 ss51\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7831\">1,073</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7868 ss628\"><div><div class=\"ps2693 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7835\">659</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7869 ss628\"><div><div class=\"ps2693 ss51\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7835\">570</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7019 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Eneti employees, both onshore and offshore, joined the Group by the end of December 2023. Thus, the </span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">average number of full-time employees as of 2023 reflects the number of employees in Eneti divided by 12 </span></div><div class=\"ps7146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">months. Eneti had </span><span class=\"f charStyle-c1b8f9f6 ps7873\">99</span><span class=\"f charStyle-c1b8f9f6 ps7874\"> onshore full time employees and </span><span class=\"f charStyle-c1b8f9f6 ps7875\">176</span><span class=\"f charStyle-c1b8f9f6 ps7876\"> seafarers by the end of 2023.</span></div><div class=\"ps422 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Labour costs related to certain employees who are working on the management of the newbuilding </span></div><div class=\"ps423 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">process have been capitalised. These capita</span><span class=\"f charStyle-c1b8f9f6 ps7877\">lised costs amounted to</span><span class=\"f charStyle-c1b8f9f6 ps7878\"> </span><span class=\"f charStyle-c1b8f9f6 ps7879\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7880\"> </span><span class=\"f charStyle-c1b8f9f6 ps7881\">7.8</span><span class=\"f charStyle-c1b8f9f6 ps7882\"> m</span><span class=\"f charStyle-c1b8f9f6 ps7883\">illion</span><span class=\"f charStyle-c1b8f9f6 ps7884\"> in </span><span class=\"f charStyle-c1b8f9f6 ps7885\">2025</span><span class=\"f charStyle-c1b8f9f6 ps7886\">, </span><span class=\"f charStyle-c1b8f9f6 ps7887\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7888\"> </span><span class=\"f charStyle-c1b8f9f6 ps7889\">2.7\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7890\"> </span></div><div class=\"ps424 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">in </span><span class=\"f charStyle-c1b8f9f6 ps5047\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7891\"> and </span><span class=\"f charStyle-c1b8f9f6 ps7892\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7893\"> </span><span class=\"f charStyle-c1b8f9f6 ps7894\">1.1\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7895\"> in</span><span class=\"f charStyle-c1b8f9f6 ps7896\"> </span><span class=\"f charStyle-c1b8f9f6 ps7897\">2023</span><span class=\"f charStyle-c1b8f9f6 ps7898\"> and are recognised under assets under construction.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-530": {
   "value": "<div class=\"ps7819 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Accounting policies</span></div><div class=\"ps7820 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Employee benefits are recognised as an expense, unless the cost qualifies for capitalisation as an asset.</span></div><div class=\"ps5274 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Employee compensation includes wages and salaries, including compensated absence and pensions, as </span></div><div class=\"ps5275 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">well as other social security contributions made to the entity\u2019s employees or public and government </span></div><div class=\"ps5276 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">authoriti</span><span class=\"f charStyle-c1b8f9f6 ps7821\">es. </span></div><div class=\"ps6993 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps918\">Accounting policies<span id=\"i3d9fd592568545fba7f9aaba92e4e114\"></span></span></div><div class=\"ps7555 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps918\">Share-based payments<span id=\"i77a129f43c404185bc9fa311eefc3b72\"></span></span></div><div class=\"ps8157 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Employees (including senior executives) of the Group receive </span></div><div class=\"ps3396 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">remuneration in the form of share-based payments, whereby </span></div><div class=\"ps272 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">employees render services as consideration for equity instruments </span></div><div class=\"ps8158 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">(equity-settled transactions).</span></div><div class=\"ps8159 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps918\">Equity-settled transactions<span id=\"ide32f3e76d934c0fb38aac612e53c8e7\"></span></span></div><div class=\"ps8160 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">The cost of equity-settled transactions is determined by the fair value </span></div><div class=\"ps8161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">at the date on which the grant is made using an appropriate </span></div><div class=\"ps8162 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">valuation model. That cost is recognised as employee benefits </span></div><div class=\"ps4214 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">expenses, together with a corresponding increase in equity (retained </span></div><div class=\"ps4215 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">earnings), over the period in which the service and, where applicable, </span></div><div class=\"ps4216 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">the performance conditions are fulfilled (the vesting period). The </span></div><div class=\"ps4217 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">cumulative expense recognised for equity-settled transactions at each </span></div><div class=\"ps4218 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">reporting date until the vesting date reflects both the extent to which </span></div><div class=\"ps3246 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">the vesting period has expired and the Group\u2019s best estimate of the </span></div><div class=\"ps8163 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">number of equity instruments that will ultimately vest. The expense or </span></div><div class=\"ps8164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">credit in the statement of profit or loss for a period represents the </span></div><div class=\"ps1932 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">movement in cumulative expense recognised at the beginning and </span></div><div class=\"ps1933 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">end of that period.</span></div><div class=\"ps7019 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Service and non-market performance conditions are not considered </span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">when determining the grant date fair value of awards. Instead, the </span></div><div class=\"ps7146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">likelihood of these conditions being met is assessed as part of the </span></div><div class=\"ps7149 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Group\u2019s best estimate of the number of equity instruments that will </span></div><div class=\"ps7564 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">ultimately vest. Market performance conditions are reflected directly </span></div><div class=\"ps7565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">in the grant date fair value.</span></div><div class=\"ps7103 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Any other conditions attached to an award, that do not include an </span></div><div class=\"ps7104 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">associated service requirement, are considered to be non-vesting </span></div><div class=\"ps7150 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">conditions. Non-vesting conditions are reflected in the fair value of </span></div><div class=\"ps7151 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">an award and result in an immediate expensing, unless there are also </span></div><div class=\"ps7152 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">service and/or performance conditions.</span></div><div class=\"ps5460 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">No expense is recognised for awards that do not ultimately vest as a </span></div><div class=\"ps7025 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">result non-market performance and/or service conditions not being </span></div><div class=\"ps7026 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">met. </span></div><div class=\"ps5463 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Where awards include a market or non-vesting condition, the </span></div><div class=\"ps5464 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">transactions are treated as vested regardless of whether the market </span></div><div class=\"ps5465 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">or non-vesting condition is satisfied, provided that all other </span></div><div class=\"ps5466 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">performance and/or service conditions are satisfied.</span></div><div class=\"ps7028 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The dilutive effect of outstanding options is reflected as additional </span></div><div class=\"ps5468 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">share dilution in the computation of diluted earnings per share in a </span></div><div class=\"ps5469 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">loss situation only where the loss per share is reduced.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-532": {
   "value": "<div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 7</span></div><div class=\"ps6906 ss0\" style=\"font-size:16pt\"><span class=\"f charStyle-940783b5 ps186\">Long Term Incentive <span id=\"i8f047e73114343e0ae923e24234b73ba\"></span></span><span class=\"f charStyle-940783b5 ps7928\">Programmes</span></div><div class=\"ps7168 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The following share-based long-term incentive programmes were in place as of </span><span class=\"f charStyle-c1b8f9f6 ps7929\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps7930\">:</span></div><div class=\"ps7935 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(i) In January 2022, the Executive Management and select employees were granted from </span><span class=\"f charStyle-c1b8f9f6 ps7931\">10,393</span><span class=\"f charStyle-c1b8f9f6 ps7932\"> to </span><span class=\"f charStyle-c1b8f9f6 ps7933\">55,430</span><span class=\"f charStyle-c1b8f9f6 ps7934\"> </span></div><div class=\"ps7936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Restricted Share Units (RSU) which fully vested and were issued in July 2024. The total fair value of the RSU </span></div><div class=\"ps7937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">allocation is calculated based on the Company's closing share price on Nasdaq Copenhagen A/S on the day </span></div><div class=\"ps7945 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">of grant, and the value is </span><span class=\"f charStyle-c1b8f9f6 ps7938\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7939\"> </span><span class=\"f charStyle-c1b8f9f6 ps7940\">394\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7941\"> </span><span class=\"f charStyle-c1b8f9f6 ps7942\">(</span><span class=\"f charStyle-c1b8f9f6 ps7943\">EUR3.3</span><span class=\"f charStyle-c1b8f9f6 ps7944\"> per RSU). As the RSUs fully vested in 2024, there was </span></div><div class=\"ps7955 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">no</span><span class=\"f charStyle-c1b8f9f6 ps7946\"> expense recognised in profit and loss in the current year (</span><span class=\"f charStyle-c1b8f9f6 ps7947\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7948\"> </span><span class=\"f charStyle-c1b8f9f6 ps7949\">53\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7950\"> in </span><span class=\"f charStyle-c1b8f9f6 ps7951\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7952\">; EUR </span><span class=\"f charStyle-c1b8f9f6 ps7953\">143\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7954\"> in </span></div><div class=\"ps7957 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">2023</span><span class=\"f charStyle-c1b8f9f6 ps7956\">).</span></div><div class=\"ps7962 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(ii) In January 2022, the Executive Management and select employees were granted from </span><span class=\"f charStyle-c1b8f9f6 ps7958\">10,393</span><span class=\"f charStyle-c1b8f9f6 ps7959\"> to </span><span class=\"f charStyle-c1b8f9f6 ps7960\">55,430</span><span class=\"f charStyle-c1b8f9f6 ps7961\"> </span></div><div class=\"ps7963 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Options in Cadeler shares, which fully vested in May 2024 and expire in April 2027. The strike price ranged </span></div><div class=\"ps7970 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">from </span><span class=\"f charStyle-c1b8f9f6 ps7964\">NOK36.02</span><span class=\"f charStyle-c1b8f9f6 ps7965\"> to </span><span class=\"f charStyle-c1b8f9f6 ps7966\">NOK38.42</span><span class=\"f charStyle-c1b8f9f6 ps7967\">, depending on the exercise period. The fair value of these options was </span><span class=\"f charStyle-c1b8f9f6 ps7968\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7969\"> </span></div><div class=\"ps7976 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">160\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7971\"> (</span><span class=\"f charStyle-c1b8f9f6 ps7972\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7973\"> </span><span class=\"f charStyle-c1b8f9f6 ps7974\">1.3</span><span class=\"f charStyle-c1b8f9f6 ps7975\"> per RSU) as determined at grant date using the Black-Scholes model. As these </span></div><div class=\"ps7981 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">options fully vested in 2024, there was </span><span class=\"f charStyle-c1b8f9f6 ps7977\">no</span><span class=\"f charStyle-c1b8f9f6 ps7978\"> expense recognised in profit and loss in the current year (</span><span class=\"f charStyle-c1b8f9f6 ps7979\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7980\"> </span></div><div class=\"ps7991 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">13\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7982\"> in </span><span class=\"f charStyle-c1b8f9f6 ps7983\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7984\">; </span><span class=\"f charStyle-c1b8f9f6 ps7985\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7986\"> </span><span class=\"f charStyle-c1b8f9f6 ps7987\">62\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7988\"> in </span><span class=\"f charStyle-c1b8f9f6 ps7989\">2023</span><span class=\"f charStyle-c1b8f9f6 ps7990\">). </span></div><div class=\"ps4157 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(iii) </span><span class=\"f charStyle-c1b8f9f6 ps7992\">In May 2022, the Executive Management and select employees were granted from </span><span class=\"f charStyle-c1b8f9f6 ps7993\">43,420</span><span class=\"f charStyle-c1b8f9f6 ps7994\"> to </span><span class=\"f charStyle-c1b8f9f6 ps1246\">221,719</span><span class=\"f charStyle-c1b8f9f6 ps7995\"> </span></div><div class=\"ps4158 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Options in Cadeler shares, which fully vested in May 2025 and expire in May 2028. The strike price is </span></div><div class=\"ps4159 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">NOK40.24</span><span class=\"f charStyle-c1b8f9f6 ps7996\"> and as of 31 December 2025, </span><span class=\"f charStyle-c1b8f9f6 ps7997\">no</span><span class=\"f charStyle-c1b8f9f6 ps7998\"> options have been exercised. The fair value of these options was </span></div><div class=\"ps4160 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">761\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7999\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8000\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8001\"> </span><span class=\"f charStyle-c1b8f9f6 ps8002\">1.3</span><span class=\"f charStyle-c1b8f9f6 ps8003\"> per RSU) as determined at grant date using the Black-Scholes model. The </span></div><div class=\"ps3405 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">expense recognised in profit and loss for the year amounts to EUR</span><span class=\"f charStyle-c1b8f9f6 ps8004\"> </span><span class=\"f charStyle-c1b8f9f6 ps8005\">173\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8006\"> (EUR </span><span class=\"f charStyle-c1b8f9f6 ps8007\">237\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8008\"> in </span></div><div class=\"ps3406 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">2024; </span><span class=\"f charStyle-c1b8f9f6 ps8009\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8010\"> </span><span class=\"f charStyle-c1b8f9f6 ps8011\">237\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8012\"> </span><span class=\"f charStyle-c1b8f9f6 ps8013\">in </span><span class=\"f charStyle-c1b8f9f6 ps8014\">2023</span><span class=\"f charStyle-c1b8f9f6 ps8015\">).</span><span class=\"f charStyle-c1b8f9f6 ps8016\"> </span><span class=\"f charStyle-c1b8f9f6 ps8017\">The average remaining contractual life for the options as per </span></div><div class=\"ps3407 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps8018\"> is </span><span class=\"f charStyle-c1b8f9f6 ps8019\">2.3 years</span><span class=\"f charStyle-c1b8f9f6 ps8020\">. The annualised volatility of the shares of </span><span class=\"f charStyle-c1b8f9f6 ps8021\">42.5%</span><span class=\"f charStyle-c1b8f9f6 ps8022\"> is based on the historical </span></div><div class=\"ps3408 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">volatility of the share price, annual risk-free interest rate of </span><span class=\"f charStyle-c1b8f9f6 ps8023\">2.8%</span><span class=\"f charStyle-c1b8f9f6 ps8024\">, dividend yield of </span><span class=\"f charStyle-c1b8f9f6 ps8025\">zero</span><span class=\"f charStyle-c1b8f9f6 ps8026\">, expected life until </span></div><div class=\"ps3409 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">expiration date and average share price of </span><span class=\"f charStyle-c1b8f9f6 ps8027\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8028\"> </span><span class=\"f charStyle-c1b8f9f6 ps8029\">3.7</span><span class=\"f charStyle-c1b8f9f6 ps8030\">.</span></div><div class=\"ps8035 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(iv) In January 2023, the Executive Management and select employees were granted from </span><span class=\"f charStyle-c1b8f9f6 ps8031\">19,760</span><span class=\"f charStyle-c1b8f9f6 ps8032\"> to </span><span class=\"f charStyle-c1b8f9f6 ps8033\">130,416</span><span class=\"f charStyle-c1b8f9f6 ps8034\"> </span></div><div class=\"ps3411 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">RSUs, which fully vested and were issued in July 2025.</span><span class=\"f charStyle-c1b8f9f6 ps8036\"> The fair value of the RSUs\u2019 are </span><span class=\"f charStyle-c1b8f9f6 ps8037\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8038\"> </span><span class=\"f charStyle-c1b8f9f6 ps8039\">1.2\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8040\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8041\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8042\"> </span><span class=\"f charStyle-c1b8f9f6 ps8043\">3.0</span><span class=\"f charStyle-c1b8f9f6 ps8044\"> </span></div><div class=\"ps8045 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">per RSU) as determined at grant date using the Black-Scholes model. The expense recognised in profit and </span></div><div class=\"ps8059 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">loss for the year amounts to EUR</span><span class=\"f charStyle-c1b8f9f6 ps8046\"> </span><span class=\"f charStyle-c1b8f9f6 ps8047\">234\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8048\"> </span><span class=\"f charStyle-c1b8f9f6 ps8049\">(</span><span class=\"f charStyle-c1b8f9f6 ps8050\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8051\"> </span><span class=\"f charStyle-c1b8f9f6 ps8052\">468\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8053\"> in </span><span class=\"f charStyle-c1b8f9f6 ps8054\">2024</span><span class=\"f charStyle-c1b8f9f6 ps8055\">, </span><span class=\"f charStyle-c1b8f9f6 ps8056\">EUR </span><span class=\"f charStyle-c1b8f9f6 ps8057\">498\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8058\"> in 2023).</span></div><div class=\"ps7019 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(v) In August 2023, the Executive Management and select employees </span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">were granted from </span><span class=\"f charStyle-c1b8f9f6 ps8064\">88,920</span><span class=\"f charStyle-c1b8f9f6 ps8065\"> to </span><span class=\"f charStyle-c1b8f9f6 ps8066\">385,320</span><span class=\"f charStyle-c1b8f9f6 ps8067\"> options in Cadeler shares which </span></div><div class=\"ps7146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">will vest in August 2026 and expire in August 2029. The strike price </span></div><div class=\"ps7149 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">will be </span><span class=\"f charStyle-c1b8f9f6 ps8068\">NOK45.49</span><span class=\"f charStyle-c1b8f9f6 ps8069\"> and vesting is conditional upon continued </span></div><div class=\"ps7564 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">employment at Cadeler. The fair value of these options is </span></div><div class=\"ps7565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">EUR2.2\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8070\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8071\">EUR1.8</span><span class=\"f charStyle-c1b8f9f6 ps8072\"> per option) as determined at grant date using </span></div><div class=\"ps6922 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the Black-Scholes model. The expense recognised in profit and loss </span></div><div class=\"ps6923 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">for the year amounts to EUR </span><span class=\"f charStyle-c1b8f9f6 ps8073\">500\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8074\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8075\">EUR419\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8076\"> in </span></div><div class=\"ps6926 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">2024</span><span class=\"f charStyle-c1b8f9f6 ps1129\">; </span><span class=\"f charStyle-c1b8f9f6 ps8009\">EUR250\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8077\"> in 2023). The average remaining contractual </span></div><div class=\"ps2785 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">life of the options as of </span><span class=\"f charStyle-c1b8f9f6 ps8078\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps8079\"> is </span><span class=\"f charStyle-c1b8f9f6 ps8080\">3.5 years</span><span class=\"f charStyle-c1b8f9f6 ps8081\">. The </span></div><div class=\"ps2786 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">annualised volatility of the shares of </span><span class=\"f charStyle-c1b8f9f6 ps8082\">61.0%</span><span class=\"f charStyle-c1b8f9f6 ps8083\"> is based on the historical </span></div><div class=\"ps2787 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">volatility of the share price, an annual risk-free interest rate of </span><span class=\"f charStyle-c1b8f9f6 ps8084\">2.68%</span><span class=\"f charStyle-c1b8f9f6 ps8085\">, </span></div><div class=\"ps2788 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">a dividend yield of </span><span class=\"f charStyle-c1b8f9f6 ps8086\">zero</span><span class=\"f charStyle-c1b8f9f6 ps8087\">, the expected life until expiration date and </span></div><div class=\"ps2789 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">average share price of </span><span class=\"f charStyle-c1b8f9f6 ps8088\">EUR3.7</span><span class=\"f charStyle-c1b8f9f6 ps8089\">.</span></div><div class=\"ps7162 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(vi) In May 2024, the Executive Management was granted a total of </span></div><div class=\"ps2791 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">193.011</span><span class=\"f charStyle-c1b8f9f6 ps8090\"> RSUs, which will vest at the end of May 2027. The RSUs\u2019 expire </span></div><div class=\"ps2792 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">at the end of May 2030 and are conditional upon conti</span><span class=\"f charStyle-c1b8f9f6 ps8091\">nued </span></div><div class=\"ps2793 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">employment at Cadeler. The fair value of the RSU\u2019s is </span><span class=\"f charStyle-c1b8f9f6 ps8092\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8093\"> </span><span class=\"f charStyle-c1b8f9f6 ps8094\">1.1\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8095\"> </span></div><div class=\"ps2794 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(</span><span class=\"f charStyle-c1b8f9f6 ps832\">EUR5.6</span><span class=\"f charStyle-c1b8f9f6 ps8096\"> per RSU) as determined at grant date using the Black-</span></div><div class=\"ps2795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Scholes model. The expense recognised in profit and loss for the year </span></div><div class=\"ps2796 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">amounts to </span><span class=\"f charStyle-c1b8f9f6 ps7400\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7401\"> </span><span class=\"f charStyle-c1b8f9f6 ps7402\">350\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8097\"> (EUR </span><span class=\"f charStyle-c1b8f9f6 ps8098\">206\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8099\"> in 2024)</span><span class=\"f charStyle-c1b8f9f6 ps8100\">. The </span></div><div class=\"ps2797 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">average remaining contractual life as of </span><span class=\"f charStyle-c1b8f9f6 ps8101\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps8102\"> is </span><span class=\"f charStyle-c1b8f9f6 ps8103\">4.4 </span></div><div class=\"ps2798 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">years</span><span class=\"f charStyle-c1b8f9f6 ps8104\">. The average share price used is </span><span class=\"f charStyle-c1b8f9f6 ps8105\">NOK64.2</span><span class=\"f charStyle-c1b8f9f6 ps8106\">. </span></div><div class=\"ps7019 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">(vii) In May 2024, the Executive Management and select employees </span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">were granted from </span><span class=\"f charStyle-c1b8f9f6 ps8108\">140,372</span><span class=\"f charStyle-c1b8f9f6 ps8109\"> to </span><span class=\"f charStyle-c1b8f9f6 ps8110\">245,651</span><span class=\"f charStyle-c1b8f9f6 ps8111\"> options in Cadeler shares, </span></div><div class=\"ps7146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">which will vest at the end of May 2027 and expire at the end of May </span></div><div class=\"ps7149 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">2030. The strike price will be </span><span class=\"f charStyle-c1b8f9f6 ps8112\">NOK74.32</span><span class=\"f charStyle-c1b8f9f6 ps8113\"> and vesting is conditional </span></div><div class=\"ps7564 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">up</span><span class=\"f charStyle-c1b8f9f6 ps8114\">on continued employment at Cadeler. The fair value of these </span></div><div class=\"ps7565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">options is </span><span class=\"f charStyle-c1b8f9f6 ps8115\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8116\"> </span><span class=\"f charStyle-c1b8f9f6 ps8117\">1.4\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8118\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8119\">EUR1.4</span><span class=\"f charStyle-c1b8f9f6 ps8120\"> per option) as determined at grant </span></div><div class=\"ps6922 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">date using the Black-Scholes model. The expense recognised in profit </span></div><div class=\"ps6923 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">and loss for the year amounts to EUR</span><span class=\"f charStyle-c1b8f9f6 ps8121\"> </span><span class=\"f charStyle-c1b8f9f6 ps8122\">450\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8123\"> (EUR </span></div><div class=\"ps6926 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">265\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8124\"> in 2024)</span><span class=\"f charStyle-c1b8f9f6 ps8125\">. The average remaining contractual life of the </span></div><div class=\"ps2785 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">options as of </span><span class=\"f charStyle-c1b8f9f6 ps8126\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps8127\"> is </span><span class=\"f charStyle-c1b8f9f6 ps8128\">4.4 years</span><span class=\"f charStyle-c1b8f9f6 ps8129\">. The annualised volatility </span></div><div class=\"ps2786 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">of the shares of </span><span class=\"f charStyle-c1b8f9f6 ps8130\">31.2%</span><span class=\"f charStyle-c1b8f9f6 ps8131\"> is based on the historical volatility of the share </span></div><div class=\"ps2787 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">price, annual risk-free interest rate of </span><span class=\"f charStyle-c1b8f9f6 ps8132\">3.63%</span><span class=\"f charStyle-c1b8f9f6 ps8133\">, dividend yield of </span><span class=\"f charStyle-c1b8f9f6 ps8134\">zero</span><span class=\"f charStyle-c1b8f9f6 ps8135\">, </span></div><div class=\"ps2788 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">expected life until expiration date, and average share price of </span></div><div class=\"ps2789 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">NOK64.2</span><span class=\"f charStyle-c1b8f9f6 ps8136\">.</span></div><div class=\"ps7162 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">(viii) In March 2025, the Executive Management and select employees </span></div><div class=\"ps2791 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">were granted from </span><span class=\"f charStyle-c1b8f9f6 ps8108\">42,115</span><span class=\"f charStyle-c1b8f9f6 ps8137\"> to </span><span class=\"f charStyle-c1b8f9f6 ps8138\">631,724</span><span class=\"f charStyle-c1b8f9f6 ps8139\"> options in Cadeler shares, which </span></div><div class=\"ps2792 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">will vest in March 2028 and expire in March 2031. The strike price will </span></div><div class=\"ps2793 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">be </span><span class=\"f charStyle-c1b8f9f6 ps8140\">NOK60.2</span><span class=\"f charStyle-c1b8f9f6 ps8141\"> and vesting is conditional upon continued employment </span></div><div class=\"ps2794 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">at Cadeler. The fair value of these options is </span><span class=\"f charStyle-c1b8f9f6 ps8142\">2\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8143\"> (EUR </span><span class=\"f charStyle-c1b8f9f6 ps8144\">1.4</span><span class=\"f charStyle-c1b8f9f6 ps8145\"> per </span></div><div class=\"ps2795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">option) as determined at grant date using the Black-Scholes model. </span></div><div class=\"ps2796 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">The expense recognized in profit and loss for the year amounts to </span></div><div class=\"ps2797 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps885\"> </span><span class=\"f charStyle-c1b8f9f6 ps886\">479\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8146\">. The average remaining contractual life of the </span></div><div class=\"ps2798 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">options as of </span><span class=\"f charStyle-c1b8f9f6 ps8126\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps8127\"> is </span><span class=\"f charStyle-c1b8f9f6 ps8128\">5.3 years</span><span class=\"f charStyle-c1b8f9f6 ps8147\">. The annualised volatility </span></div><div class=\"ps2799 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">of the shares is </span><span class=\"f charStyle-c1b8f9f6 ps8148\">31.66%</span><span class=\"f charStyle-c1b8f9f6 ps8149\"> based on historical volatility of the share price </span></div><div class=\"ps2800 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">price, annual risk-free interest rate of </span><span class=\"f charStyle-c1b8f9f6 ps8132\">3.93%</span><span class=\"f charStyle-c1b8f9f6 ps8133\">, a dividend yield of </span><span class=\"f charStyle-c1b8f9f6 ps8150\">zero</span><span class=\"f charStyle-c1b8f9f6 ps8151\">, </span></div><div class=\"ps2801 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">an expected life of </span><span class=\"f charStyle-c1b8f9f6 ps8152\">4 years</span><span class=\"f charStyle-c1b8f9f6 ps8153\"> from grant date and average share price </span></div><div class=\"ps8156 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">of </span><span class=\"f charStyle-c1b8f9f6 ps8154\">NOK52</span><span class=\"f charStyle-c1b8f9f6 ps8155\">. </span></div><div class=\"ps6993 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps918\">Accounting policies<span id=\"i3d9fd592568545fba7f9aaba92e4e114\"></span></span></div><div class=\"ps7555 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps918\">Share-based payments<span id=\"i77a129f43c404185bc9fa311eefc3b72\"></span></span></div><div class=\"ps8157 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Employees (including senior executives) of the Group receive </span></div><div class=\"ps3396 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">remuneration in the form of share-based payments, whereby </span></div><div class=\"ps272 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">employees render services as consideration for equity instruments </span></div><div class=\"ps8158 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">(equity-settled transactions).</span></div><div class=\"ps8159 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps918\">Equity-settled transactions<span id=\"ide32f3e76d934c0fb38aac612e53c8e7\"></span></span></div><div class=\"ps8160 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">The cost of equity-settled transactions is determined by the fair value </span></div><div class=\"ps8161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">at the date on which the grant is made using an appropriate </span></div><div class=\"ps8162 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">valuation model. That cost is recognised as employee benefits </span></div><div class=\"ps4214 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">expenses, together with a corresponding increase in equity (retained </span></div><div class=\"ps4215 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">earnings), over the period in which the service and, where applicable, </span></div><div class=\"ps4216 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">the performance conditions are fulfilled (the vesting period). The </span></div><div class=\"ps4217 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">cumulative expense recognised for equity-settled transactions at each </span></div><div class=\"ps4218 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">reporting date until the vesting date reflects both the extent to which </span></div><div class=\"ps3246 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">the vesting period has expired and the Group\u2019s best estimate of the </span></div><div class=\"ps8163 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">number of equity instruments that will ultimately vest. The expense or </span></div><div class=\"ps8164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">credit in the statement of profit or loss for a period represents the </span></div><div class=\"ps1932 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">movement in cumulative expense recognised at the beginning and </span></div><div class=\"ps1933 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">end of that period.</span></div><div class=\"ps7019 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Service and non-market performance conditions are not considered </span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">when determining the grant date fair value of awards. Instead, the </span></div><div class=\"ps7146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">likelihood of these conditions being met is assessed as part of the </span></div><div class=\"ps7149 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Group\u2019s best estimate of the number of equity instruments that will </span></div><div class=\"ps7564 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">ultimately vest. Market performance conditions are reflected directly </span></div><div class=\"ps7565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">in the grant date fair value.</span></div><div class=\"ps7103 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Any other conditions attached to an award, that do not include an </span></div><div class=\"ps7104 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">associated service requirement, are considered to be non-vesting </span></div><div class=\"ps7150 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">conditions. Non-vesting conditions are reflected in the fair value of </span></div><div class=\"ps7151 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">an award and result in an immediate expensing, unless there are also </span></div><div class=\"ps7152 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">service and/or performance conditions.</span></div><div class=\"ps5460 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">No expense is recognised for awards that do not ultimately vest as a </span></div><div class=\"ps7025 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">result non-market performance and/or service conditions not being </span></div><div class=\"ps7026 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">met. </span></div><div class=\"ps5463 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Where awards include a market or non-vesting condition, the </span></div><div class=\"ps5464 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">transactions are treated as vested regardless of whether the market </span></div><div class=\"ps5465 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">or non-vesting condition is satisfied, provided that all other </span></div><div class=\"ps5466 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">performance and/or service conditions are satisfied.</span></div><div class=\"ps7028 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The dilutive effect of outstanding options is reflected as additional </span></div><div class=\"ps5468 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">share dilution in the computation of diluted earnings per share in a </span></div><div class=\"ps5469 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">loss situation only where the loss per share is reduced.</span></div><div class=\"ps7498 ss0\"><div class=\"ss376 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:129.75pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:54pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:54pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:54pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:54pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:54pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:54pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"></td><td colspan=\"4\" style=\"background-color:#206079;padding:0\"><div class=\"ps8168 ss631\"><div><div class=\"ps44 ss630\"><span class=\"f charStyle-281247bf ps8167\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps440 ss631\"><div><div class=\"ps44 ss630\"><span class=\"f charStyle-054ead99 ps8167\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8169 ss631\"><div><div class=\"ps44 ss630\"><span class=\"f charStyle-054ead99 ps8167\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"background-color:#206079;padding:0\"><div class=\"ps8171 ss633\"><div><div class=\"ps44 ss632\"><span class=\"f charStyle-281247bf ps8170\">Executive management<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#206079;padding:0\"><div class=\"ps8173 ss633\"><div><div class=\"ps44 ss632\"><span class=\"f charStyle-281247bf ps8172\">Other employees<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"padding:0\"><div class=\"ps8174 ss633\"><div><div class=\"ps44 ss632\"><span class=\"f charStyle-054ead99 ps8170\">Executive management<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8175 ss633\"><div><div class=\"ps44 ss632\"><span class=\"f charStyle-054ead99 ps8172\">Other employees<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8176 ss633\"><div><div class=\"ps44 ss632\"><span class=\"f charStyle-054ead99 ps8170\">Executive management<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"padding:0\"><div class=\"ps8177 ss633\"><div><div class=\"ps44 ss632\"><span class=\"f charStyle-054ead99 ps8172\">Other employees<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps48 ss634\"><div><div class=\"ps5619 ss629\"><span class=\"f charStyle-b07b4361 ps42\">Outstanding instruments - <span class=\"f ps43\"> </span></span></div><div class=\"ps5618 ss629\"><span class=\"f charStyle-b07b4361 ps42\">Options</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8180 ss635\"><div><div class=\"ps8179 ss339\"><span class=\"f charStyle-4979afbe ps8178\">Number<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8183 ss637\"><div><div class=\"ps8179 ss636\"><span class=\"f charStyle-4979afbe ps8181\">WAEP</span><span class=\"f charStyle-88564ae7 ps8182\"><sup>1</sup></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8184 ss635\"><div><div class=\"ps8179 ss339\"><span class=\"f charStyle-4979afbe ps8178\">Number<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8185 ss637\"><div><div class=\"ps8179 ss636\"><span class=\"f charStyle-4979afbe ps8181\">WAEP</span><span class=\"f charStyle-88564ae7 ps8182\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8186 ss635\"><div><div class=\"ps8179 ss339\"><span class=\"f charStyle-64a4cf84 ps8178\">Number<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8187 ss637\"><div><div class=\"ps8179 ss636\"><span class=\"f charStyle-5e156cc0 ps8181\">WAEP</span><span class=\"f charStyle-6df02eca ps8182\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8188 ss635\"><div><div class=\"ps8179 ss339\"><span class=\"f charStyle-64a4cf84 ps8178\">Number<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-right:1pt solid #ecedef;padding:0\"><div class=\"ps755 ss637\"><div><div class=\"ps8179 ss636\"><span class=\"f charStyle-5e156cc0 ps8181\">WAEP</span><span class=\"f charStyle-6df02eca ps8182\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8190 ss635\"><div><div class=\"ps8179 ss339\"><span class=\"f charStyle-64a4cf84 ps8189\">Number<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8191 ss637\"><div><div class=\"ps8179 ss636\"><span class=\"f charStyle-5e156cc0 ps8181\">WAEP</span><span class=\"f charStyle-6df02eca ps8182\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8192 ss635\"><div><div class=\"ps8179 ss339\"><span class=\"f charStyle-64a4cf84 ps8189\">Number<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8193 ss637\"><div><div class=\"ps8179 ss636\"><span class=\"f charStyle-5e156cc0 ps8181\">WAEP</span><span class=\"f charStyle-6df02eca ps8182\"><sup>1</sup></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5266 ss638\"><div><div class=\"ps44 ss629\"><span class=\"f charStyle-1bac868e ps633\">Outstanding at 1 January<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8195 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.37pt\"></span></span><span class=\"ps8194\">1,353,052</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8197 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.47pt\"></span></span><span class=\"ps8196\">4.39</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8198 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.37pt\"></span></span><span class=\"ps8194\">1,487,689</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8199 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.47pt\"></span></span><span class=\"ps8196\">4.76</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8201 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8200\">967,029</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8203 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8202\">3.47</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8204 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8200\">894,123</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8205 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8202\">3.46</span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8206 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8200\">344,589</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8207 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8202\">3.16</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8208 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8200\">330,963</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8209 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8202\">3.15</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps650 ss638\"><div><div class=\"ps44 ss629\"><span class=\"f charStyle-1bac868e ps633\">Granted during the year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8211 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8210\">912,490</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8212 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.47pt\"></span></span><span class=\"ps8196\">5.09</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8213 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8210\">491,341</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8214 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.47pt\"></span></span><span class=\"ps8196\">5.09</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8215 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8200\">386,023</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8216 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8202\">6.24</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8217 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8200\">631,674</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps653 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8202\">6.24</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8218 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8200\">622,440</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8219 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8202\">3.64</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8220 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8200\">563,160</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8221 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8202\">3.64</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps6278 ss638\"><div><div class=\"ps44 ss629\"><span class=\"f charStyle-1bac868e ps633\">Forfeited during the year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8223 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8225 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8227 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.6pt\"></span></span><span class=\"ps8226\">(62,908)</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8228 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.47pt\"></span></span><span class=\"ps8196\">3.80</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8230 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8229\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8232 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8231\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8233 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8229\">\u2014</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8234 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8231\">\u2014</span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8235 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8229\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8236 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8231\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8237 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8229\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8238 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8231\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps8239 ss638\"><div><div class=\"ps44 ss629\"><span class=\"f charStyle-1bac868e ps633\">Exercised during the year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8240 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8241 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8242 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8243 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8244 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8229\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8245 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8202\">3.03</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8246 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.25pt\"></span></span><span class=\"ps7744\">(38,108)</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8247 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8231\">\u2014</span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8248 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8229\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8249 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8231\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8250 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8229\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8251 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8231\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8252 ss638\"><div><div class=\"ps44 ss629\"><span class=\"f charStyle-1bac868e ps633\">Expired during the year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8253 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8254 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8255 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8256 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8257 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8229\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8258 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8231\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8259 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8229\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8260 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8231\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8261 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8229\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8262 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8231\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8263 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8229\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8264 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8231\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4801 ss638\"><div><div class=\"ps44 ss629\"><span class=\"f charStyle-b07b4361 ps42\">Outstanding at 31 December <span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8266 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.17pt\"></span></span><span class=\"ps8265\">2,265,542</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8268 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.03pt\"></span></span><span class=\"ps8267\">4.69</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8269 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.17pt\"></span></span><span class=\"ps8265\">1,916,122</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8270 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.03pt\"></span></span><span class=\"ps8267\">4.90</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8272 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:17.82pt\"></span></span><span class=\"ps8271\">1,353,052</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8273 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44 ps3996\">4.39<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8274 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:17.82pt\"></span></span><span class=\"ps8271\">1,487,689</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8275 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44 ps3996\">4.76<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8277 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.42pt\"></span></span><span class=\"ps8276\">967,029</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8278 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44 ps3996\">3.47<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8279 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.42pt\"></span></span><span class=\"ps8276\">894,123</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8280 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44 ps3996\">3.46<span class=\"f ps43\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps8383 ss0\"><div class=\"ss644 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:129pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:54pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:54pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:54pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:54pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:54pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:54pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"></td><td colspan=\"4\" style=\"background-color:#206079;padding:0\"><div class=\"ps8284 ss631\"><div><div class=\"ps44 ss630\"><span class=\"f charStyle-281247bf ps8167\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8285 ss631\"><div><div class=\"ps44 ss630\"><span class=\"f charStyle-054ead99 ps8167\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8286 ss631\"><div><div class=\"ps44 ss630\"><span class=\"f charStyle-054ead99 ps8167\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"background-color:#206079;padding:0\"><div class=\"ps8287 ss633\"><div><div class=\"ps44 ss632\"><span class=\"f charStyle-281247bf ps8170\">Executive management<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#206079;padding:0\"><div class=\"ps8288 ss633\"><div><div class=\"ps44 ss632\"><span class=\"f charStyle-281247bf ps8172\">Other employees<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"padding:0\"><div class=\"ps8289 ss633\"><div><div class=\"ps44 ss632\"><span class=\"f charStyle-054ead99 ps8170\">Executive management<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8290 ss633\"><div><div class=\"ps44 ss632\"><span class=\"f charStyle-054ead99 ps8172\">Other employees<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8291 ss633\"><div><div class=\"ps44 ss632\"><span class=\"f charStyle-054ead99 ps8170\">Executive management<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"padding:0\"><div class=\"ps8292 ss633\"><div><div class=\"ps44 ss632\"><span class=\"f charStyle-054ead99 ps8172\">Other employees<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps48 ss642\"><div><div class=\"ps5619 ss641\"><span class=\"f charStyle-b07b4361 ps42\">Outstanding instruments - <span class=\"f ps43\"> </span></span></div><div class=\"ps5618 ss641\"><span class=\"f charStyle-b07b4361 ps42\">RSU</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8294 ss635\"><div><div class=\"ps8179 ss339\"><span class=\"f charStyle-4979afbe ps8293\">Number<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8295 ss637\"><div><div class=\"ps8179 ss636\"><span class=\"f charStyle-4979afbe ps8181\">WAEP</span><span class=\"f charStyle-88564ae7 ps8182\"><sup>1</sup></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8296 ss635\"><div><div class=\"ps8179 ss339\"><span class=\"f charStyle-4979afbe ps8293\">Number<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8297 ss637\"><div><div class=\"ps8179 ss636\"><span class=\"f charStyle-4979afbe ps8181\">WAEP</span><span class=\"f charStyle-88564ae7 ps8182\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8298 ss635\"><div><div class=\"ps8179 ss339\"><span class=\"f charStyle-64a4cf84 ps8293\">Number<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8299 ss637\"><div><div class=\"ps8179 ss636\"><span class=\"f charStyle-5e156cc0 ps8181\">WAEP</span><span class=\"f charStyle-6df02eca ps8182\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8300 ss635\"><div><div class=\"ps8179 ss339\"><span class=\"f charStyle-64a4cf84 ps8293\">Number<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8301 ss637\"><div><div class=\"ps8179 ss636\"><span class=\"f charStyle-5e156cc0 ps8181\">WAEP</span><span class=\"f charStyle-6df02eca ps8182\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8303 ss635\"><div><div class=\"ps8179 ss339\"><span class=\"f charStyle-64a4cf84 ps8302\">Number<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8304 ss637\"><div><div class=\"ps8179 ss636\"><span class=\"f charStyle-5e156cc0 ps8181\">WAEP</span><span class=\"f charStyle-6df02eca ps8182\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8305 ss635\"><div><div class=\"ps8179 ss339\"><span class=\"f charStyle-64a4cf84 ps8302\">Number<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8306 ss637\"><div><div class=\"ps8179 ss636\"><span class=\"f charStyle-5e156cc0 ps8181\">WAEP</span><span class=\"f charStyle-6df02eca ps8182\"><sup>1</sup></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5266 ss643\"><div><div class=\"ps44 ss641\"><span class=\"f charStyle-1bac868e ps633\">Outstanding at 1 January<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8307 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8210\">382,707</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8308 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8309 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8210\">205,504</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8310 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8311 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8210\">245,126</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8312 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8313 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8210\">271,327</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8314 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8316 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:33.02pt\"></span></span><span class=\"ps8315\">55,430</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8317 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8318 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:33.02pt\"></span></span><span class=\"ps8315\">65,823</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8319 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps650 ss643\"><div><div class=\"ps44 ss641\"><span class=\"f charStyle-1bac868e ps633\">Granted during the year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8320 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8321 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8322 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8323 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8324 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8210\">193,011</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8325 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8326 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8327 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8328 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8210\">189,696</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8329 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8330 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8210\">205,504</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8331 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps6278 ss643\"><div><div class=\"ps44 ss641\"><span class=\"f charStyle-1bac868e ps633\">Forfeited during the year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8332 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8333 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8335 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.45pt\"></span></span><span class=\"ps8334\">(6,847)</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8336 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8337 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8338 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8339 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8340 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8341 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8342 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8343 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8344 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps8239 ss643\"><div><div class=\"ps44 ss641\"><span class=\"f charStyle-1bac868e ps633\">Exercised during the year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8346 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.75pt\"></span></span><span class=\"ps8345\">(189,696)</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8347 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8348 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.75pt\"></span></span><span class=\"ps8345\">(198,657)</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8349 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8350 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.6pt\"></span></span><span class=\"ps8226\">(55,430)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8351 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8352 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.6pt\"></span></span><span class=\"ps8226\">(65,823)</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8353 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8354 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8355 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8356 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8357 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8252 ss643\"><div><div class=\"ps44 ss641\"><span class=\"f charStyle-1bac868e ps633\">Expired during the year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8358 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8359 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8360 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8361 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8362 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8363 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8364 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8365 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8366 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8367 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8368 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8369 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4801 ss643\"><div><div class=\"ps44 ss641\"><span class=\"f charStyle-b07b4361 ps42\">Outstanding at 31 December<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8370 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.77pt\"></span></span><span class=\"ps6890\">193,011</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8371 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8372 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8373 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8374 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.42pt\"></span></span><span class=\"ps8276\">382,707</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8376 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44 ps8375\">0<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8377 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.42pt\"></span></span><span class=\"ps8276\">205,504</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8378 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44 ps8375\">0<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8379 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.42pt\"></span></span><span class=\"ps8276\">245,126</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8380 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44 ps8375\">0<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8381 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.42pt\"></span></span><span class=\"ps8276\">271,327</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8382 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44 ps8375\">0<span class=\"f ps43\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 8</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Board of Directors and Executive Management Compensation<span id=\"i430bdd9f93894189b006496fc30f907b\"></span></span></div><div class=\"ps7670 ss0\"><div class=\"ss652 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:183pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"></td><td colspan=\"3\" style=\"background-color:#206079;padding:0\"><div class=\"ps8388 ss647\"><div><div class=\"ps44 ss646\"><span class=\"f charStyle-281247bf ps8387\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"padding:0\"><div class=\"ps7517 ss647\"><div><div class=\"ps44 ss646\"><span class=\"f charStyle-054ead99 ps8387\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"padding:0\"><div class=\"ps8389 ss647\"><div><div class=\"ps44 ss646\"><span class=\"f charStyle-054ead99 ps8387\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:30.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps46 ss648\"><div><div class=\"ps8390 ss645\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8395 ss649\"><div><div class=\"ps8392 ss298\"><span class=\"f charStyle-281247bf ps8391\">Board of <span class=\"f ps43\"> </span></span></div><div class=\"ps8394 ss298\"><span class=\"f charStyle-281247bf ps8393\">directors</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8398 ss649\"><div><div class=\"ps8392 ss298\"><span class=\"f charStyle-281247bf ps8396\">Executive <span class=\"f ps43\"> </span></span></div><div class=\"ps8394 ss298\"><span class=\"f charStyle-281247bf ps8397\">management</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8399 ss649\"><div><div class=\"ps8394 ss298\"><span class=\"f charStyle-281247bf ps7676\">Total<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8400 ss649\"><div><div class=\"ps8392 ss298\"><span class=\"f charStyle-054ead99 ps8391\">Board of <span class=\"f ps43\"> </span></span></div><div class=\"ps8394 ss298\"><span class=\"f charStyle-054ead99 ps8393\">directors</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8401 ss649\"><div><div class=\"ps8392 ss298\"><span class=\"f charStyle-054ead99 ps8396\">Executive <span class=\"f ps43\"> </span></span></div><div class=\"ps8394 ss298\"><span class=\"f charStyle-054ead99 ps8397\">management</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8402 ss649\"><div><div class=\"ps8394 ss298\"><span class=\"f charStyle-054ead99 ps7676\">Total<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8403 ss649\"><div><div class=\"ps8392 ss298\"><span class=\"f charStyle-054ead99 ps8391\">Board of <span class=\"f ps43\"> </span></span></div><div class=\"ps8394 ss298\"><span class=\"f charStyle-054ead99 ps8393\">directors</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8404 ss649\"><div><div class=\"ps8392 ss298\"><span class=\"f charStyle-054ead99 ps8396\">Executive <span class=\"f ps43\"> </span></span></div><div class=\"ps8394 ss298\"><span class=\"f charStyle-054ead99 ps8397\">management</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8405 ss649\"><div><div class=\"ps8394 ss298\"><span class=\"f charStyle-054ead99 ps7676\">Total<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2060 ss650\"><div><div class=\"ps44 ss645\"><span class=\"f charStyle-1bac868e ps633\">Wages, salaries and board fees<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8407 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8406\">419</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8408 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8406\">998</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8410 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8409\">1,417</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8411 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8406\">334</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8412 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8406\">955</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8413 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8409\">1,289</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8414 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8406\">183</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8415 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8406\">821</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8416 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8409\">1,004</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps2158 ss650\"><div><div class=\"ps44 ss645\"><span class=\"f charStyle-1bac868e ps633\">Pension costs - defined contribution plans<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8418 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8417\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8419 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8406\">100</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8420 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8406\">100</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8421 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8417\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8423 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8422\">95</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8424 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8422\">95</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8425 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8417\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8426 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8422\">29</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8427 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8422\">29</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps2188 ss650\"><div><div class=\"ps44 ss645\"><span class=\"f charStyle-1bac868e ps633\">Share based payment<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8428 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8417\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8429 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8409\">1,249</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8430 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8409\">1,249</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8431 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8417\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8432 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8406\">957</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8433 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8406\">957</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8434 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8417\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8435 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8406\">588</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8436 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8406\">588</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps5658 ss650\"><div><div class=\"ps44 ss645\"><span class=\"f charStyle-1bac868e ps633\">Other short-term benefits<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8437 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8417\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8438 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8422\">35</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8439 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8422\">35</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8440 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8417\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8441 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8422\">41</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8442 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8422\">41</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8443 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8417\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8444 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8422\">55</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8445 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8422\">55</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5664 ss650\"><div><div class=\"ps44 ss645\"><span class=\"f charStyle-1bac868e ps633\">Cash bonus<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8446 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8417\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8447 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8409\">2,473</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8448 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8409\">2,473</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8449 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8417\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8450 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8409\">1,197</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8451 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8409\">1,197</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8452 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8417\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8453 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8409\">1,155</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8454 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8409\">1,155</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps1818 ss650\"><div><div class=\"ps44 ss645\"><span class=\"f charStyle-b07b4361 ps42\">Total management compensation<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8456 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.11pt\"></span></span><span class=\"ps8455\">419</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8458 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.51pt\"></span></span><span class=\"ps8457\">4,855</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8459 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.51pt\"></span></span><span class=\"ps8457\">5,274</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8460 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.11pt\"></span></span><span class=\"ps8455\">334</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8461 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.51pt\"></span></span><span class=\"ps8457\">3,245</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8462 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.51pt\"></span></span><span class=\"ps8457\">3,579</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8463 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.11pt\"></span></span><span class=\"ps8455\">183</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8464 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.51pt\"></span></span><span class=\"ps8457\">2,648</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8465 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.51pt\"></span></span><span class=\"ps8457\">2,831</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps8467 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Executive Management<span id=\"i4aea9fb2a6e3447b861a2c4d2ae241f8\"></span></span></div><div class=\"ps8468 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Executive Management refers to the members of the Executive </span></div><div class=\"ps8469 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Management who are registered with the Danish business authority </span></div><div class=\"ps8470 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">and who have the authority and responsibility for the planning, </span></div><div class=\"ps8471 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">directing and controlling of the activities of the Company as defined </span></div><div class=\"ps8472 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">by IAS 24. As such, Executive Management is considered Chief </span></div><div class=\"ps8473 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Operating Decision Makers (CODM) as defined by IFRS 8.</span></div><div class=\"ps8467 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps882\">Board of Directors<span id=\"ic39a4ba5386743bb8c25659cb8623c39\"></span></span></div><div class=\"ps8468 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">Andreas Sohmen-Pao and Andreas Beroutsos are employed by the </span></div><div class=\"ps8469 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">BW Group. These board members did not receive remuneration from </span></div><div class=\"ps8470 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">Cadeler in </span><span class=\"f charStyle-c1b8f9f6 ps8475\">2023</span><span class=\"f charStyle-c1b8f9f6 ps8476\">, </span><span class=\"f charStyle-c1b8f9f6 ps8477\">2024</span><span class=\"f charStyle-c1b8f9f6 ps8478\"> and </span><span class=\"f charStyle-c1b8f9f6 ps8479\">2025</span><span class=\"f charStyle-c1b8f9f6 ps8480\">. Andreas Beroutsos stepped down </span></div><div class=\"ps8471 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">from the Board with effect from 25 April 2023. On the same date, </span></div><div class=\"ps8472 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">Andrea Abt joined the Board. </span></div><div class=\"ps8481 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">David Peter Cogman is employed by the Swire Group and did not </span></div><div class=\"ps8474 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">receive remuneration from Cadeler in 2022 and 2023. David Peter </span></div><div class=\"ps8482 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">Cogman stepped down from the Board with effect from 16 June </span></div><div class=\"ps8483 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">2023, together with Connie Hedegaard. </span></div><div class=\"ps8485 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">On 20 February 2024, Emanuele Lauro and James Nish joined the </span></div><div class=\"ps8486 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Board. Emanuele Lauro is the Director and Chief Executive Officer of </span></div><div class=\"ps8488 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Scorpio Holdings Limited, which is considered a related party (see</span><span class=\"f charStyle-c1b8f9f6 ps8487\"> </span></div><div class=\"ps8490 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Note 27</span><span class=\"f charStyle-c1b8f9f6 ps8489\">).</span></div><div class=\"ps2962 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">On 23 April 2024, Jesper T. Lok left the Board of Directors and </span></div><div class=\"ps2963 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Colette Cohen was elected to serve a </span><span class=\"f charStyle-c1b8f9f6 ps8491\">two</span><span class=\"f charStyle-c1b8f9f6 ps8492\"> year</span><span class=\"f charStyle-c1b8f9f6 ps8493\"> term through the 2026 </span></div><div class=\"ps2762 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">AGM. </span></div><div class=\"ps1682 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">On 11 November 2024, Thomas Thune Andersen was elected as a </span></div><div class=\"ps1683 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">new member of the Board of Directors.</span></div><span class=\"f charStyle-c1b8f9f6 ps10162\">hare premium reserve represents capital contributed by investors in excess of the nominal value of the </span><div class=\"ps401 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">shares issued, net of any incremental costs directly attributable to the issuance of new shares.</span></div><div class=\"ps381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Own equity instruments that are reacquired (treasury shares) are recognised at cost and deducted from </span></div><div class=\"ps382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">equity. No gain or loss is recognised in profit or loss on the purchase, sale, issue or cancellation of the </span></div><div class=\"ps383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Group\u2019s own equity instruments. Any difference between the carrying amount and the consideration </span></div><div class=\"ps384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">received, upon reissuance, is recognised in equity.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-531": {
   "value": "<div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 7</span></div><div class=\"ps6906 ss0\" style=\"font-size:16pt\"><span class=\"f charStyle-940783b5 ps186\">Long Term Incentive <span id=\"i8f047e73114343e0ae923e24234b73ba\"></span></span><span class=\"f charStyle-940783b5 ps7928\">Programmes</span></div><div class=\"ps7168 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The following share-based long-term incentive programmes were in place as of </span><span class=\"f charStyle-c1b8f9f6 ps7929\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps7930\">:</span></div><div class=\"ps7935 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(i) In January 2022, the Executive Management and select employees were granted from </span><span class=\"f charStyle-c1b8f9f6 ps7931\">10,393</span><span class=\"f charStyle-c1b8f9f6 ps7932\"> to </span><span class=\"f charStyle-c1b8f9f6 ps7933\">55,430</span><span class=\"f charStyle-c1b8f9f6 ps7934\"> </span></div><div class=\"ps7936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Restricted Share Units (RSU) which fully vested and were issued in July 2024. The total fair value of the RSU </span></div><div class=\"ps7937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">allocation is calculated based on the Company's closing share price on Nasdaq Copenhagen A/S on the day </span></div><div class=\"ps7945 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">of grant, and the value is </span><span class=\"f charStyle-c1b8f9f6 ps7938\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7939\"> </span><span class=\"f charStyle-c1b8f9f6 ps7940\">394\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7941\"> </span><span class=\"f charStyle-c1b8f9f6 ps7942\">(</span><span class=\"f charStyle-c1b8f9f6 ps7943\">EUR3.3</span><span class=\"f charStyle-c1b8f9f6 ps7944\"> per RSU). As the RSUs fully vested in 2024, there was </span></div><div class=\"ps7955 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">no</span><span class=\"f charStyle-c1b8f9f6 ps7946\"> expense recognised in profit and loss in the current year (</span><span class=\"f charStyle-c1b8f9f6 ps7947\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7948\"> </span><span class=\"f charStyle-c1b8f9f6 ps7949\">53\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7950\"> in </span><span class=\"f charStyle-c1b8f9f6 ps7951\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7952\">; EUR </span><span class=\"f charStyle-c1b8f9f6 ps7953\">143\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7954\"> in </span></div><div class=\"ps7957 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">2023</span><span class=\"f charStyle-c1b8f9f6 ps7956\">).</span></div><div class=\"ps7962 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(ii) In January 2022, the Executive Management and select employees were granted from </span><span class=\"f charStyle-c1b8f9f6 ps7958\">10,393</span><span class=\"f charStyle-c1b8f9f6 ps7959\"> to </span><span class=\"f charStyle-c1b8f9f6 ps7960\">55,430</span><span class=\"f charStyle-c1b8f9f6 ps7961\"> </span></div><div class=\"ps7963 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Options in Cadeler shares, which fully vested in May 2024 and expire in April 2027. The strike price ranged </span></div><div class=\"ps7970 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">from </span><span class=\"f charStyle-c1b8f9f6 ps7964\">NOK36.02</span><span class=\"f charStyle-c1b8f9f6 ps7965\"> to </span><span class=\"f charStyle-c1b8f9f6 ps7966\">NOK38.42</span><span class=\"f charStyle-c1b8f9f6 ps7967\">, depending on the exercise period. The fair value of these options was </span><span class=\"f charStyle-c1b8f9f6 ps7968\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7969\"> </span></div><div class=\"ps7976 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">160\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7971\"> (</span><span class=\"f charStyle-c1b8f9f6 ps7972\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7973\"> </span><span class=\"f charStyle-c1b8f9f6 ps7974\">1.3</span><span class=\"f charStyle-c1b8f9f6 ps7975\"> per RSU) as determined at grant date using the Black-Scholes model. As these </span></div><div class=\"ps7981 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">options fully vested in 2024, there was </span><span class=\"f charStyle-c1b8f9f6 ps7977\">no</span><span class=\"f charStyle-c1b8f9f6 ps7978\"> expense recognised in profit and loss in the current year (</span><span class=\"f charStyle-c1b8f9f6 ps7979\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7980\"> </span></div><div class=\"ps7991 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">13\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7982\"> in </span><span class=\"f charStyle-c1b8f9f6 ps7983\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7984\">; </span><span class=\"f charStyle-c1b8f9f6 ps7985\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7986\"> </span><span class=\"f charStyle-c1b8f9f6 ps7987\">62\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7988\"> in </span><span class=\"f charStyle-c1b8f9f6 ps7989\">2023</span><span class=\"f charStyle-c1b8f9f6 ps7990\">). </span></div><div class=\"ps4157 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(iii) </span><span class=\"f charStyle-c1b8f9f6 ps7992\">In May 2022, the Executive Management and select employees were granted from </span><span class=\"f charStyle-c1b8f9f6 ps7993\">43,420</span><span class=\"f charStyle-c1b8f9f6 ps7994\"> to </span><span class=\"f charStyle-c1b8f9f6 ps1246\">221,719</span><span class=\"f charStyle-c1b8f9f6 ps7995\"> </span></div><div class=\"ps4158 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Options in Cadeler shares, which fully vested in May 2025 and expire in May 2028. The strike price is </span></div><div class=\"ps4159 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">NOK40.24</span><span class=\"f charStyle-c1b8f9f6 ps7996\"> and as of 31 December 2025, </span><span class=\"f charStyle-c1b8f9f6 ps7997\">no</span><span class=\"f charStyle-c1b8f9f6 ps7998\"> options have been exercised. The fair value of these options was </span></div><div class=\"ps4160 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">761\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7999\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8000\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8001\"> </span><span class=\"f charStyle-c1b8f9f6 ps8002\">1.3</span><span class=\"f charStyle-c1b8f9f6 ps8003\"> per RSU) as determined at grant date using the Black-Scholes model. The </span></div><div class=\"ps3405 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">expense recognised in profit and loss for the year amounts to EUR</span><span class=\"f charStyle-c1b8f9f6 ps8004\"> </span><span class=\"f charStyle-c1b8f9f6 ps8005\">173\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8006\"> (EUR </span><span class=\"f charStyle-c1b8f9f6 ps8007\">237\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8008\"> in </span></div><div class=\"ps3406 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">2024; </span><span class=\"f charStyle-c1b8f9f6 ps8009\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8010\"> </span><span class=\"f charStyle-c1b8f9f6 ps8011\">237\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8012\"> </span><span class=\"f charStyle-c1b8f9f6 ps8013\">in </span><span class=\"f charStyle-c1b8f9f6 ps8014\">2023</span><span class=\"f charStyle-c1b8f9f6 ps8015\">).</span><span class=\"f charStyle-c1b8f9f6 ps8016\"> </span><span class=\"f charStyle-c1b8f9f6 ps8017\">The average remaining contractual life for the options as per </span></div><div class=\"ps3407 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps8018\"> is </span><span class=\"f charStyle-c1b8f9f6 ps8019\">2.3 years</span><span class=\"f charStyle-c1b8f9f6 ps8020\">. The annualised volatility of the shares of </span><span class=\"f charStyle-c1b8f9f6 ps8021\">42.5%</span><span class=\"f charStyle-c1b8f9f6 ps8022\"> is based on the historical </span></div><div class=\"ps3408 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">volatility of the share price, annual risk-free interest rate of </span><span class=\"f charStyle-c1b8f9f6 ps8023\">2.8%</span><span class=\"f charStyle-c1b8f9f6 ps8024\">, dividend yield of </span><span class=\"f charStyle-c1b8f9f6 ps8025\">zero</span><span class=\"f charStyle-c1b8f9f6 ps8026\">, expected life until </span></div><div class=\"ps3409 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">expiration date and average share price of </span><span class=\"f charStyle-c1b8f9f6 ps8027\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8028\"> </span><span class=\"f charStyle-c1b8f9f6 ps8029\">3.7</span><span class=\"f charStyle-c1b8f9f6 ps8030\">.</span></div><div class=\"ps8035 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(iv) In January 2023, the Executive Management and select employees were granted from </span><span class=\"f charStyle-c1b8f9f6 ps8031\">19,760</span><span class=\"f charStyle-c1b8f9f6 ps8032\"> to </span><span class=\"f charStyle-c1b8f9f6 ps8033\">130,416</span><span class=\"f charStyle-c1b8f9f6 ps8034\"> </span></div><div class=\"ps3411 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">RSUs, which fully vested and were issued in July 2025.</span><span class=\"f charStyle-c1b8f9f6 ps8036\"> The fair value of the RSUs\u2019 are </span><span class=\"f charStyle-c1b8f9f6 ps8037\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8038\"> </span><span class=\"f charStyle-c1b8f9f6 ps8039\">1.2\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8040\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8041\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8042\"> </span><span class=\"f charStyle-c1b8f9f6 ps8043\">3.0</span><span class=\"f charStyle-c1b8f9f6 ps8044\"> </span></div><div class=\"ps8045 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">per RSU) as determined at grant date using the Black-Scholes model. The expense recognised in profit and </span></div><div class=\"ps8059 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">loss for the year amounts to EUR</span><span class=\"f charStyle-c1b8f9f6 ps8046\"> </span><span class=\"f charStyle-c1b8f9f6 ps8047\">234\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8048\"> </span><span class=\"f charStyle-c1b8f9f6 ps8049\">(</span><span class=\"f charStyle-c1b8f9f6 ps8050\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8051\"> </span><span class=\"f charStyle-c1b8f9f6 ps8052\">468\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8053\"> in </span><span class=\"f charStyle-c1b8f9f6 ps8054\">2024</span><span class=\"f charStyle-c1b8f9f6 ps8055\">, </span><span class=\"f charStyle-c1b8f9f6 ps8056\">EUR </span><span class=\"f charStyle-c1b8f9f6 ps8057\">498\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8058\"> in 2023).</span></div><div class=\"ps7019 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(v) In August 2023, the Executive Management and select employees </span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">were granted from </span><span class=\"f charStyle-c1b8f9f6 ps8064\">88,920</span><span class=\"f charStyle-c1b8f9f6 ps8065\"> to </span><span class=\"f charStyle-c1b8f9f6 ps8066\">385,320</span><span class=\"f charStyle-c1b8f9f6 ps8067\"> options in Cadeler shares which </span></div><div class=\"ps7146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">will vest in August 2026 and expire in August 2029. The strike price </span></div><div class=\"ps7149 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">will be </span><span class=\"f charStyle-c1b8f9f6 ps8068\">NOK45.49</span><span class=\"f charStyle-c1b8f9f6 ps8069\"> and vesting is conditional upon continued </span></div><div class=\"ps7564 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">employment at Cadeler. The fair value of these options is </span></div><div class=\"ps7565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">EUR2.2\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8070\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8071\">EUR1.8</span><span class=\"f charStyle-c1b8f9f6 ps8072\"> per option) as determined at grant date using </span></div><div class=\"ps6922 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the Black-Scholes model. The expense recognised in profit and loss </span></div><div class=\"ps6923 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">for the year amounts to EUR </span><span class=\"f charStyle-c1b8f9f6 ps8073\">500\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8074\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8075\">EUR419\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8076\"> in </span></div><div class=\"ps6926 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">2024</span><span class=\"f charStyle-c1b8f9f6 ps1129\">; </span><span class=\"f charStyle-c1b8f9f6 ps8009\">EUR250\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8077\"> in 2023). The average remaining contractual </span></div><div class=\"ps2785 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">life of the options as of </span><span class=\"f charStyle-c1b8f9f6 ps8078\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps8079\"> is </span><span class=\"f charStyle-c1b8f9f6 ps8080\">3.5 years</span><span class=\"f charStyle-c1b8f9f6 ps8081\">. The </span></div><div class=\"ps2786 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">annualised volatility of the shares of </span><span class=\"f charStyle-c1b8f9f6 ps8082\">61.0%</span><span class=\"f charStyle-c1b8f9f6 ps8083\"> is based on the historical </span></div><div class=\"ps2787 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">volatility of the share price, an annual risk-free interest rate of </span><span class=\"f charStyle-c1b8f9f6 ps8084\">2.68%</span><span class=\"f charStyle-c1b8f9f6 ps8085\">, </span></div><div class=\"ps2788 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">a dividend yield of </span><span class=\"f charStyle-c1b8f9f6 ps8086\">zero</span><span class=\"f charStyle-c1b8f9f6 ps8087\">, the expected life until expiration date and </span></div><div class=\"ps2789 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">average share price of </span><span class=\"f charStyle-c1b8f9f6 ps8088\">EUR3.7</span><span class=\"f charStyle-c1b8f9f6 ps8089\">.</span></div><div class=\"ps7162 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(vi) In May 2024, the Executive Management was granted a total of </span></div><div class=\"ps2791 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">193.011</span><span class=\"f charStyle-c1b8f9f6 ps8090\"> RSUs, which will vest at the end of May 2027. The RSUs\u2019 expire </span></div><div class=\"ps2792 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">at the end of May 2030 and are conditional upon conti</span><span class=\"f charStyle-c1b8f9f6 ps8091\">nued </span></div><div class=\"ps2793 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">employment at Cadeler. The fair value of the RSU\u2019s is </span><span class=\"f charStyle-c1b8f9f6 ps8092\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8093\"> </span><span class=\"f charStyle-c1b8f9f6 ps8094\">1.1\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8095\"> </span></div><div class=\"ps2794 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(</span><span class=\"f charStyle-c1b8f9f6 ps832\">EUR5.6</span><span class=\"f charStyle-c1b8f9f6 ps8096\"> per RSU) as determined at grant date using the Black-</span></div><div class=\"ps2795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Scholes model. The expense recognised in profit and loss for the year </span></div><div class=\"ps2796 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">amounts to </span><span class=\"f charStyle-c1b8f9f6 ps7400\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7401\"> </span><span class=\"f charStyle-c1b8f9f6 ps7402\">350\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8097\"> (EUR </span><span class=\"f charStyle-c1b8f9f6 ps8098\">206\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8099\"> in 2024)</span><span class=\"f charStyle-c1b8f9f6 ps8100\">. The </span></div><div class=\"ps2797 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">average remaining contractual life as of </span><span class=\"f charStyle-c1b8f9f6 ps8101\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps8102\"> is </span><span class=\"f charStyle-c1b8f9f6 ps8103\">4.4 </span></div><div class=\"ps2798 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">years</span><span class=\"f charStyle-c1b8f9f6 ps8104\">. The average share price used is </span><span class=\"f charStyle-c1b8f9f6 ps8105\">NOK64.2</span><span class=\"f charStyle-c1b8f9f6 ps8106\">. </span></div><div class=\"ps7019 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">(vii) In May 2024, the Executive Management and select employees </span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">were granted from </span><span class=\"f charStyle-c1b8f9f6 ps8108\">140,372</span><span class=\"f charStyle-c1b8f9f6 ps8109\"> to </span><span class=\"f charStyle-c1b8f9f6 ps8110\">245,651</span><span class=\"f charStyle-c1b8f9f6 ps8111\"> options in Cadeler shares, </span></div><div class=\"ps7146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">which will vest at the end of May 2027 and expire at the end of May </span></div><div class=\"ps7149 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">2030. The strike price will be </span><span class=\"f charStyle-c1b8f9f6 ps8112\">NOK74.32</span><span class=\"f charStyle-c1b8f9f6 ps8113\"> and vesting is conditional </span></div><div class=\"ps7564 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">up</span><span class=\"f charStyle-c1b8f9f6 ps8114\">on continued employment at Cadeler. The fair value of these </span></div><div class=\"ps7565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">options is </span><span class=\"f charStyle-c1b8f9f6 ps8115\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8116\"> </span><span class=\"f charStyle-c1b8f9f6 ps8117\">1.4\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8118\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8119\">EUR1.4</span><span class=\"f charStyle-c1b8f9f6 ps8120\"> per option) as determined at grant </span></div><div class=\"ps6922 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">date using the Black-Scholes model. The expense recognised in profit </span></div><div class=\"ps6923 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">and loss for the year amounts to EUR</span><span class=\"f charStyle-c1b8f9f6 ps8121\"> </span><span class=\"f charStyle-c1b8f9f6 ps8122\">450\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8123\"> (EUR </span></div><div class=\"ps6926 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">265\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8124\"> in 2024)</span><span class=\"f charStyle-c1b8f9f6 ps8125\">. The average remaining contractual life of the </span></div><div class=\"ps2785 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">options as of </span><span class=\"f charStyle-c1b8f9f6 ps8126\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps8127\"> is </span><span class=\"f charStyle-c1b8f9f6 ps8128\">4.4 years</span><span class=\"f charStyle-c1b8f9f6 ps8129\">. The annualised volatility </span></div><div class=\"ps2786 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">of the shares of </span><span class=\"f charStyle-c1b8f9f6 ps8130\">31.2%</span><span class=\"f charStyle-c1b8f9f6 ps8131\"> is based on the historical volatility of the share </span></div><div class=\"ps2787 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">price, annual risk-free interest rate of </span><span class=\"f charStyle-c1b8f9f6 ps8132\">3.63%</span><span class=\"f charStyle-c1b8f9f6 ps8133\">, dividend yield of </span><span class=\"f charStyle-c1b8f9f6 ps8134\">zero</span><span class=\"f charStyle-c1b8f9f6 ps8135\">, </span></div><div class=\"ps2788 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">expected life until expiration date, and average share price of </span></div><div class=\"ps2789 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">NOK64.2</span><span class=\"f charStyle-c1b8f9f6 ps8136\">.</span></div><div class=\"ps7162 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">(viii) In March 2025, the Executive Management and select employees </span></div><div class=\"ps2791 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">were granted from </span><span class=\"f charStyle-c1b8f9f6 ps8108\">42,115</span><span class=\"f charStyle-c1b8f9f6 ps8137\"> to </span><span class=\"f charStyle-c1b8f9f6 ps8138\">631,724</span><span class=\"f charStyle-c1b8f9f6 ps8139\"> options in Cadeler shares, which </span></div><div class=\"ps2792 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">will vest in March 2028 and expire in March 2031. The strike price will </span></div><div class=\"ps2793 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">be </span><span class=\"f charStyle-c1b8f9f6 ps8140\">NOK60.2</span><span class=\"f charStyle-c1b8f9f6 ps8141\"> and vesting is conditional upon continued employment </span></div><div class=\"ps2794 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">at Cadeler. The fair value of these options is </span><span class=\"f charStyle-c1b8f9f6 ps8142\">2\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8143\"> (EUR </span><span class=\"f charStyle-c1b8f9f6 ps8144\">1.4</span><span class=\"f charStyle-c1b8f9f6 ps8145\"> per </span></div><div class=\"ps2795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">option) as determined at grant date using the Black-Scholes model. </span></div><div class=\"ps2796 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">The expense recognized in profit and loss for the year amounts to </span></div><div class=\"ps2797 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps885\"> </span><span class=\"f charStyle-c1b8f9f6 ps886\">479\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8146\">. The average remaining contractual life of the </span></div><div class=\"ps2798 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">options as of </span><span class=\"f charStyle-c1b8f9f6 ps8126\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps8127\"> is </span><span class=\"f charStyle-c1b8f9f6 ps8128\">5.3 years</span><span class=\"f charStyle-c1b8f9f6 ps8147\">. The annualised volatility </span></div><div class=\"ps2799 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">of the shares is </span><span class=\"f charStyle-c1b8f9f6 ps8148\">31.66%</span><span class=\"f charStyle-c1b8f9f6 ps8149\"> based on historical volatility of the share price </span></div><div class=\"ps2800 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">price, annual risk-free interest rate of </span><span class=\"f charStyle-c1b8f9f6 ps8132\">3.93%</span><span class=\"f charStyle-c1b8f9f6 ps8133\">, a dividend yield of </span><span class=\"f charStyle-c1b8f9f6 ps8150\">zero</span><span class=\"f charStyle-c1b8f9f6 ps8151\">, </span></div><div class=\"ps2801 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">an expected life of </span><span class=\"f charStyle-c1b8f9f6 ps8152\">4 years</span><span class=\"f charStyle-c1b8f9f6 ps8153\"> from grant date and average share price </span></div><div class=\"ps8156 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">of </span><span class=\"f charStyle-c1b8f9f6 ps8154\">NOK52</span><span class=\"f charStyle-c1b8f9f6 ps8155\">. </span></div><div class=\"ps7498 ss0\"><div class=\"ss376 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:129.75pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:54pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:54pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:54pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:54pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:54pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:54pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"></td><td colspan=\"4\" style=\"background-color:#206079;padding:0\"><div class=\"ps8168 ss631\"><div><div class=\"ps44 ss630\"><span class=\"f charStyle-281247bf ps8167\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps440 ss631\"><div><div class=\"ps44 ss630\"><span class=\"f charStyle-054ead99 ps8167\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8169 ss631\"><div><div class=\"ps44 ss630\"><span class=\"f charStyle-054ead99 ps8167\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"background-color:#206079;padding:0\"><div class=\"ps8171 ss633\"><div><div class=\"ps44 ss632\"><span class=\"f charStyle-281247bf ps8170\">Executive management<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#206079;padding:0\"><div class=\"ps8173 ss633\"><div><div class=\"ps44 ss632\"><span class=\"f charStyle-281247bf ps8172\">Other employees<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"padding:0\"><div class=\"ps8174 ss633\"><div><div class=\"ps44 ss632\"><span class=\"f charStyle-054ead99 ps8170\">Executive management<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8175 ss633\"><div><div class=\"ps44 ss632\"><span class=\"f charStyle-054ead99 ps8172\">Other employees<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8176 ss633\"><div><div class=\"ps44 ss632\"><span class=\"f charStyle-054ead99 ps8170\">Executive management<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"padding:0\"><div class=\"ps8177 ss633\"><div><div class=\"ps44 ss632\"><span class=\"f charStyle-054ead99 ps8172\">Other employees<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps48 ss634\"><div><div class=\"ps5619 ss629\"><span class=\"f charStyle-b07b4361 ps42\">Outstanding instruments - <span class=\"f ps43\"> </span></span></div><div class=\"ps5618 ss629\"><span class=\"f charStyle-b07b4361 ps42\">Options</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8180 ss635\"><div><div class=\"ps8179 ss339\"><span class=\"f charStyle-4979afbe ps8178\">Number<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8183 ss637\"><div><div class=\"ps8179 ss636\"><span class=\"f charStyle-4979afbe ps8181\">WAEP</span><span class=\"f charStyle-88564ae7 ps8182\"><sup>1</sup></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8184 ss635\"><div><div class=\"ps8179 ss339\"><span class=\"f charStyle-4979afbe ps8178\">Number<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8185 ss637\"><div><div class=\"ps8179 ss636\"><span class=\"f charStyle-4979afbe ps8181\">WAEP</span><span class=\"f charStyle-88564ae7 ps8182\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8186 ss635\"><div><div class=\"ps8179 ss339\"><span class=\"f charStyle-64a4cf84 ps8178\">Number<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8187 ss637\"><div><div class=\"ps8179 ss636\"><span class=\"f charStyle-5e156cc0 ps8181\">WAEP</span><span class=\"f charStyle-6df02eca ps8182\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8188 ss635\"><div><div class=\"ps8179 ss339\"><span class=\"f charStyle-64a4cf84 ps8178\">Number<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-right:1pt solid #ecedef;padding:0\"><div class=\"ps755 ss637\"><div><div class=\"ps8179 ss636\"><span class=\"f charStyle-5e156cc0 ps8181\">WAEP</span><span class=\"f charStyle-6df02eca ps8182\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8190 ss635\"><div><div class=\"ps8179 ss339\"><span class=\"f charStyle-64a4cf84 ps8189\">Number<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8191 ss637\"><div><div class=\"ps8179 ss636\"><span class=\"f charStyle-5e156cc0 ps8181\">WAEP</span><span class=\"f charStyle-6df02eca ps8182\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8192 ss635\"><div><div class=\"ps8179 ss339\"><span class=\"f charStyle-64a4cf84 ps8189\">Number<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8193 ss637\"><div><div class=\"ps8179 ss636\"><span class=\"f charStyle-5e156cc0 ps8181\">WAEP</span><span class=\"f charStyle-6df02eca ps8182\"><sup>1</sup></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5266 ss638\"><div><div class=\"ps44 ss629\"><span class=\"f charStyle-1bac868e ps633\">Outstanding at 1 January<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8195 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.37pt\"></span></span><span class=\"ps8194\">1,353,052</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8197 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.47pt\"></span></span><span class=\"ps8196\">4.39</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8198 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.37pt\"></span></span><span class=\"ps8194\">1,487,689</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8199 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.47pt\"></span></span><span class=\"ps8196\">4.76</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8201 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8200\">967,029</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8203 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8202\">3.47</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8204 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8200\">894,123</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8205 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8202\">3.46</span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8206 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8200\">344,589</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8207 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8202\">3.16</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8208 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8200\">330,963</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8209 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8202\">3.15</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps650 ss638\"><div><div class=\"ps44 ss629\"><span class=\"f charStyle-1bac868e ps633\">Granted during the year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8211 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8210\">912,490</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8212 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.47pt\"></span></span><span class=\"ps8196\">5.09</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8213 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8210\">491,341</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8214 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.47pt\"></span></span><span class=\"ps8196\">5.09</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8215 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8200\">386,023</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8216 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8202\">6.24</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8217 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8200\">631,674</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps653 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8202\">6.24</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8218 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8200\">622,440</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8219 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8202\">3.64</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8220 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8200\">563,160</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8221 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8202\">3.64</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps6278 ss638\"><div><div class=\"ps44 ss629\"><span class=\"f charStyle-1bac868e ps633\">Forfeited during the year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8223 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8225 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8227 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.6pt\"></span></span><span class=\"ps8226\">(62,908)</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8228 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.47pt\"></span></span><span class=\"ps8196\">3.80</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8230 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8229\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8232 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8231\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8233 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8229\">\u2014</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8234 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8231\">\u2014</span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8235 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8229\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8236 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8231\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8237 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8229\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8238 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8231\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps8239 ss638\"><div><div class=\"ps44 ss629\"><span class=\"f charStyle-1bac868e ps633\">Exercised during the year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8240 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8241 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8242 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8243 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8244 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8229\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8245 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8202\">3.03</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8246 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.25pt\"></span></span><span class=\"ps7744\">(38,108)</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8247 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8231\">\u2014</span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8248 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8229\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8249 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8231\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8250 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8229\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8251 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8231\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8252 ss638\"><div><div class=\"ps44 ss629\"><span class=\"f charStyle-1bac868e ps633\">Expired during the year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8253 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8254 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8255 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8256 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8257 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8229\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8258 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8231\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8259 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8229\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8260 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8231\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8261 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8229\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8262 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8231\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8263 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8229\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8264 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8231\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4801 ss638\"><div><div class=\"ps44 ss629\"><span class=\"f charStyle-b07b4361 ps42\">Outstanding at 31 December <span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8266 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.17pt\"></span></span><span class=\"ps8265\">2,265,542</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8268 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.03pt\"></span></span><span class=\"ps8267\">4.69</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8269 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.17pt\"></span></span><span class=\"ps8265\">1,916,122</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8270 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.03pt\"></span></span><span class=\"ps8267\">4.90</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8272 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:17.82pt\"></span></span><span class=\"ps8271\">1,353,052</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8273 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44 ps3996\">4.39<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8274 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:17.82pt\"></span></span><span class=\"ps8271\">1,487,689</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8275 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44 ps3996\">4.76<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8277 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.42pt\"></span></span><span class=\"ps8276\">967,029</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8278 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44 ps3996\">3.47<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8279 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.42pt\"></span></span><span class=\"ps8276\">894,123</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8280 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44 ps3996\">3.46<span class=\"f ps43\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps8383 ss0\"><div class=\"ss644 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:129pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:54pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:54pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:54pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:54pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:54pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:54pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"></td><td colspan=\"4\" style=\"background-color:#206079;padding:0\"><div class=\"ps8284 ss631\"><div><div class=\"ps44 ss630\"><span class=\"f charStyle-281247bf ps8167\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8285 ss631\"><div><div class=\"ps44 ss630\"><span class=\"f charStyle-054ead99 ps8167\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8286 ss631\"><div><div class=\"ps44 ss630\"><span class=\"f charStyle-054ead99 ps8167\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"background-color:#206079;padding:0\"><div class=\"ps8287 ss633\"><div><div class=\"ps44 ss632\"><span class=\"f charStyle-281247bf ps8170\">Executive management<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#206079;padding:0\"><div class=\"ps8288 ss633\"><div><div class=\"ps44 ss632\"><span class=\"f charStyle-281247bf ps8172\">Other employees<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"padding:0\"><div class=\"ps8289 ss633\"><div><div class=\"ps44 ss632\"><span class=\"f charStyle-054ead99 ps8170\">Executive management<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8290 ss633\"><div><div class=\"ps44 ss632\"><span class=\"f charStyle-054ead99 ps8172\">Other employees<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8291 ss633\"><div><div class=\"ps44 ss632\"><span class=\"f charStyle-054ead99 ps8170\">Executive management<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"padding:0\"><div class=\"ps8292 ss633\"><div><div class=\"ps44 ss632\"><span class=\"f charStyle-054ead99 ps8172\">Other employees<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps48 ss642\"><div><div class=\"ps5619 ss641\"><span class=\"f charStyle-b07b4361 ps42\">Outstanding instruments - <span class=\"f ps43\"> </span></span></div><div class=\"ps5618 ss641\"><span class=\"f charStyle-b07b4361 ps42\">RSU</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8294 ss635\"><div><div class=\"ps8179 ss339\"><span class=\"f charStyle-4979afbe ps8293\">Number<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8295 ss637\"><div><div class=\"ps8179 ss636\"><span class=\"f charStyle-4979afbe ps8181\">WAEP</span><span class=\"f charStyle-88564ae7 ps8182\"><sup>1</sup></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8296 ss635\"><div><div class=\"ps8179 ss339\"><span class=\"f charStyle-4979afbe ps8293\">Number<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8297 ss637\"><div><div class=\"ps8179 ss636\"><span class=\"f charStyle-4979afbe ps8181\">WAEP</span><span class=\"f charStyle-88564ae7 ps8182\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8298 ss635\"><div><div class=\"ps8179 ss339\"><span class=\"f charStyle-64a4cf84 ps8293\">Number<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8299 ss637\"><div><div class=\"ps8179 ss636\"><span class=\"f charStyle-5e156cc0 ps8181\">WAEP</span><span class=\"f charStyle-6df02eca ps8182\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8300 ss635\"><div><div class=\"ps8179 ss339\"><span class=\"f charStyle-64a4cf84 ps8293\">Number<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8301 ss637\"><div><div class=\"ps8179 ss636\"><span class=\"f charStyle-5e156cc0 ps8181\">WAEP</span><span class=\"f charStyle-6df02eca ps8182\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8303 ss635\"><div><div class=\"ps8179 ss339\"><span class=\"f charStyle-64a4cf84 ps8302\">Number<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8304 ss637\"><div><div class=\"ps8179 ss636\"><span class=\"f charStyle-5e156cc0 ps8181\">WAEP</span><span class=\"f charStyle-6df02eca ps8182\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8305 ss635\"><div><div class=\"ps8179 ss339\"><span class=\"f charStyle-64a4cf84 ps8302\">Number<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8306 ss637\"><div><div class=\"ps8179 ss636\"><span class=\"f charStyle-5e156cc0 ps8181\">WAEP</span><span class=\"f charStyle-6df02eca ps8182\"><sup>1</sup></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5266 ss643\"><div><div class=\"ps44 ss641\"><span class=\"f charStyle-1bac868e ps633\">Outstanding at 1 January<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8307 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8210\">382,707</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8308 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8309 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8210\">205,504</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8310 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8311 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8210\">245,126</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8312 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8313 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8210\">271,327</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8314 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8316 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:33.02pt\"></span></span><span class=\"ps8315\">55,430</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8317 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8318 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:33.02pt\"></span></span><span class=\"ps8315\">65,823</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8319 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps650 ss643\"><div><div class=\"ps44 ss641\"><span class=\"f charStyle-1bac868e ps633\">Granted during the year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8320 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8321 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8322 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8323 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8324 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8210\">193,011</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8325 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8326 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8327 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8328 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8210\">189,696</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8329 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8330 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8210\">205,504</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8331 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps6278 ss643\"><div><div class=\"ps44 ss641\"><span class=\"f charStyle-1bac868e ps633\">Forfeited during the year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8332 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8333 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8335 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.45pt\"></span></span><span class=\"ps8334\">(6,847)</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8336 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8337 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8338 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8339 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8340 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8341 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8342 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8343 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8344 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps8239 ss643\"><div><div class=\"ps44 ss641\"><span class=\"f charStyle-1bac868e ps633\">Exercised during the year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8346 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.75pt\"></span></span><span class=\"ps8345\">(189,696)</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8347 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8348 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.75pt\"></span></span><span class=\"ps8345\">(198,657)</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8349 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8350 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.6pt\"></span></span><span class=\"ps8226\">(55,430)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8351 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8352 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.6pt\"></span></span><span class=\"ps8226\">(65,823)</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8353 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8354 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8355 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8356 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8357 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8252 ss643\"><div><div class=\"ps44 ss641\"><span class=\"f charStyle-1bac868e ps633\">Expired during the year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8358 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8359 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8360 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8361 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8362 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8363 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8364 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8365 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8366 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8367 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8368 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8369 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4801 ss643\"><div><div class=\"ps44 ss641\"><span class=\"f charStyle-b07b4361 ps42\">Outstanding at 31 December<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8370 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.77pt\"></span></span><span class=\"ps6890\">193,011</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8371 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8372 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8373 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8224\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8374 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.42pt\"></span></span><span class=\"ps8276\">382,707</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8376 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44 ps8375\">0<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8377 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.42pt\"></span></span><span class=\"ps8276\">205,504</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8378 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44 ps8375\">0<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8379 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.42pt\"></span></span><span class=\"ps8276\">245,126</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8380 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44 ps8375\">0<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8381 ss639\"><div><div class=\"ps44 ss339\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.42pt\"></span></span><span class=\"ps8276\">271,327</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8382 ss640\"><div><div class=\"ps44 ss636\"><span class=\"f charStyle-e5ec5c44 ps8375\">0<span class=\"f ps43\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 8</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Board of Directors and Executive Management Compensation<span id=\"i430bdd9f93894189b006496fc30f907b\"></span></span></div><div class=\"ps7670 ss0\"><div class=\"ss652 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:183pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"></td><td colspan=\"3\" style=\"background-color:#206079;padding:0\"><div class=\"ps8388 ss647\"><div><div class=\"ps44 ss646\"><span class=\"f charStyle-281247bf ps8387\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"padding:0\"><div class=\"ps7517 ss647\"><div><div class=\"ps44 ss646\"><span class=\"f charStyle-054ead99 ps8387\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"padding:0\"><div class=\"ps8389 ss647\"><div><div class=\"ps44 ss646\"><span class=\"f charStyle-054ead99 ps8387\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:30.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps46 ss648\"><div><div class=\"ps8390 ss645\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8395 ss649\"><div><div class=\"ps8392 ss298\"><span class=\"f charStyle-281247bf ps8391\">Board of <span class=\"f ps43\"> </span></span></div><div class=\"ps8394 ss298\"><span class=\"f charStyle-281247bf ps8393\">directors</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8398 ss649\"><div><div class=\"ps8392 ss298\"><span class=\"f charStyle-281247bf ps8396\">Executive <span class=\"f ps43\"> </span></span></div><div class=\"ps8394 ss298\"><span class=\"f charStyle-281247bf ps8397\">management</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8399 ss649\"><div><div class=\"ps8394 ss298\"><span class=\"f charStyle-281247bf ps7676\">Total<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8400 ss649\"><div><div class=\"ps8392 ss298\"><span class=\"f charStyle-054ead99 ps8391\">Board of <span class=\"f ps43\"> </span></span></div><div class=\"ps8394 ss298\"><span class=\"f charStyle-054ead99 ps8393\">directors</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8401 ss649\"><div><div class=\"ps8392 ss298\"><span class=\"f charStyle-054ead99 ps8396\">Executive <span class=\"f ps43\"> </span></span></div><div class=\"ps8394 ss298\"><span class=\"f charStyle-054ead99 ps8397\">management</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8402 ss649\"><div><div class=\"ps8394 ss298\"><span class=\"f charStyle-054ead99 ps7676\">Total<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8403 ss649\"><div><div class=\"ps8392 ss298\"><span class=\"f charStyle-054ead99 ps8391\">Board of <span class=\"f ps43\"> </span></span></div><div class=\"ps8394 ss298\"><span class=\"f charStyle-054ead99 ps8393\">directors</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8404 ss649\"><div><div class=\"ps8392 ss298\"><span class=\"f charStyle-054ead99 ps8396\">Executive <span class=\"f ps43\"> </span></span></div><div class=\"ps8394 ss298\"><span class=\"f charStyle-054ead99 ps8397\">management</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8405 ss649\"><div><div class=\"ps8394 ss298\"><span class=\"f charStyle-054ead99 ps7676\">Total<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2060 ss650\"><div><div class=\"ps44 ss645\"><span class=\"f charStyle-1bac868e ps633\">Wages, salaries and board fees<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8407 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8406\">419</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8408 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8406\">998</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8410 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8409\">1,417</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8411 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8406\">334</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8412 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8406\">955</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8413 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8409\">1,289</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8414 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8406\">183</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8415 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8406\">821</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8416 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8409\">1,004</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps2158 ss650\"><div><div class=\"ps44 ss645\"><span class=\"f charStyle-1bac868e ps633\">Pension costs - defined contribution plans<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8418 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8417\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8419 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8406\">100</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8420 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8406\">100</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8421 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8417\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8423 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8422\">95</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8424 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8422\">95</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8425 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8417\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8426 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8422\">29</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8427 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8422\">29</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps2188 ss650\"><div><div class=\"ps44 ss645\"><span class=\"f charStyle-1bac868e ps633\">Share based payment<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8428 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8417\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8429 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8409\">1,249</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8430 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8409\">1,249</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8431 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8417\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8432 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8406\">957</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8433 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8406\">957</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8434 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8417\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8435 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8406\">588</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8436 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8406\">588</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps5658 ss650\"><div><div class=\"ps44 ss645\"><span class=\"f charStyle-1bac868e ps633\">Other short-term benefits<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8437 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8417\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8438 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8422\">35</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8439 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8422\">35</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8440 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8417\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8441 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8422\">41</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8442 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8422\">41</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8443 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8417\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8444 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8422\">55</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8445 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8422\">55</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5664 ss650\"><div><div class=\"ps44 ss645\"><span class=\"f charStyle-1bac868e ps633\">Cash bonus<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8446 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8417\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8447 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8409\">2,473</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8448 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8409\">2,473</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8449 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8417\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8450 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8409\">1,197</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8451 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8409\">1,197</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8452 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8417\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8453 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8409\">1,155</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8454 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8409\">1,155</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps1818 ss650\"><div><div class=\"ps44 ss645\"><span class=\"f charStyle-b07b4361 ps42\">Total management compensation<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8456 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.11pt\"></span></span><span class=\"ps8455\">419</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8458 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.51pt\"></span></span><span class=\"ps8457\">4,855</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8459 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.51pt\"></span></span><span class=\"ps8457\">5,274</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8460 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.11pt\"></span></span><span class=\"ps8455\">334</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8461 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.51pt\"></span></span><span class=\"ps8457\">3,245</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8462 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.51pt\"></span></span><span class=\"ps8457\">3,579</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8463 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.11pt\"></span></span><span class=\"ps8455\">183</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8464 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.51pt\"></span></span><span class=\"ps8457\">2,648</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8465 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.51pt\"></span></span><span class=\"ps8457\">2,831</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps8467 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Executive Management<span id=\"i4aea9fb2a6e3447b861a2c4d2ae241f8\"></span></span></div><div class=\"ps8468 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Executive Management refers to the members of the Executive </span></div><div class=\"ps8469 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Management who are registered with the Danish business authority </span></div><div class=\"ps8470 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">and who have the authority and responsibility for the planning, </span></div><div class=\"ps8471 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">directing and controlling of the activities of the Company as defined </span></div><div class=\"ps8472 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">by IAS 24. As such, Executive Management is considered Chief </span></div><div class=\"ps8473 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Operating Decision Makers (CODM) as defined by IFRS 8.</span></div><div class=\"ps8467 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps882\">Board of Directors<span id=\"ic39a4ba5386743bb8c25659cb8623c39\"></span></span></div><div class=\"ps8468 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">Andreas Sohmen-Pao and Andreas Beroutsos are employed by the </span></div><div class=\"ps8469 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">BW Group. These board members did not receive remuneration from </span></div><div class=\"ps8470 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">Cadeler in </span><span class=\"f charStyle-c1b8f9f6 ps8475\">2023</span><span class=\"f charStyle-c1b8f9f6 ps8476\">, </span><span class=\"f charStyle-c1b8f9f6 ps8477\">2024</span><span class=\"f charStyle-c1b8f9f6 ps8478\"> and </span><span class=\"f charStyle-c1b8f9f6 ps8479\">2025</span><span class=\"f charStyle-c1b8f9f6 ps8480\">. Andreas Beroutsos stepped down </span></div><div class=\"ps8471 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">from the Board with effect from 25 April 2023. On the same date, </span></div><div class=\"ps8472 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">Andrea Abt joined the Board. </span></div><div class=\"ps8481 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">David Peter Cogman is employed by the Swire Group and did not </span></div><div class=\"ps8474 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">receive remuneration from Cadeler in 2022 and 2023. David Peter </span></div><div class=\"ps8482 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">Cogman stepped down from the Board with effect from 16 June </span></div><div class=\"ps8483 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">2023, together with Connie Hedegaard. </span></div><div class=\"ps8485 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">On 20 February 2024, Emanuele Lauro and James Nish joined the </span></div><div class=\"ps8486 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Board. Emanuele Lauro is the Director and Chief Executive Officer of </span></div><div class=\"ps8488 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Scorpio Holdings Limited, which is considered a related party (see</span><span class=\"f charStyle-c1b8f9f6 ps8487\"> </span></div><div class=\"ps8490 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Note 27</span><span class=\"f charStyle-c1b8f9f6 ps8489\">).</span></div><div class=\"ps2962 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">On 23 April 2024, Jesper T. Lok left the Board of Directors and </span></div><div class=\"ps2963 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Colette Cohen was elected to serve a </span><span class=\"f charStyle-c1b8f9f6 ps8491\">two</span><span class=\"f charStyle-c1b8f9f6 ps8492\"> year</span><span class=\"f charStyle-c1b8f9f6 ps8493\"> term through the 2026 </span></div><div class=\"ps2762 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">AGM. </span></div><div class=\"ps1682 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">On 11 November 2024, Thomas Thune Andersen was elected as a </span></div><div class=\"ps1683 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">new member of the Board of Directors.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-533": {
   "value": "<div class=\"ps6993 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps918\">Accounting policies<span id=\"i3d9fd592568545fba7f9aaba92e4e114\"></span></span></div><div class=\"ps7555 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps918\">Share-based payments<span id=\"i77a129f43c404185bc9fa311eefc3b72\"></span></span></div><div class=\"ps8157 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Employees (including senior executives) of the Group receive </span></div><div class=\"ps3396 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">remuneration in the form of share-based payments, whereby </span></div><div class=\"ps272 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">employees render services as consideration for equity instruments </span></div><div class=\"ps8158 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">(equity-settled transactions).</span></div><div class=\"ps8159 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps918\">Equity-settled transactions<span id=\"ide32f3e76d934c0fb38aac612e53c8e7\"></span></span></div><div class=\"ps8160 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">The cost of equity-settled transactions is determined by the fair value </span></div><div class=\"ps8161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">at the date on which the grant is made using an appropriate </span></div><div class=\"ps8162 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">valuation model. That cost is recognised as employee benefits </span></div><div class=\"ps4214 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">expenses, together with a corresponding increase in equity (retained </span></div><div class=\"ps4215 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">earnings), over the period in which the service and, where applicable, </span></div><div class=\"ps4216 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">the performance conditions are fulfilled (the vesting period). The </span></div><div class=\"ps4217 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">cumulative expense recognised for equity-settled transactions at each </span></div><div class=\"ps4218 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">reporting date until the vesting date reflects both the extent to which </span></div><div class=\"ps3246 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">the vesting period has expired and the Group\u2019s best estimate of the </span></div><div class=\"ps8163 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">number of equity instruments that will ultimately vest. The expense or </span></div><div class=\"ps8164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">credit in the statement of profit or loss for a period represents the </span></div><div class=\"ps1932 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">movement in cumulative expense recognised at the beginning and </span></div><div class=\"ps1933 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">end of that period.</span></div><div class=\"ps7019 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Service and non-market performance conditions are not considered </span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">when determining the grant date fair value of awards. Instead, the </span></div><div class=\"ps7146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">likelihood of these conditions being met is assessed as part of the </span></div><div class=\"ps7149 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Group\u2019s best estimate of the number of equity instruments that will </span></div><div class=\"ps7564 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">ultimately vest. Market performance conditions are reflected directly </span></div><div class=\"ps7565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">in the grant date fair value.</span></div><div class=\"ps7103 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Any other conditions attached to an award, that do not include an </span></div><div class=\"ps7104 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">associated service requirement, are considered to be non-vesting </span></div><div class=\"ps7150 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">conditions. Non-vesting conditions are reflected in the fair value of </span></div><div class=\"ps7151 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">an award and result in an immediate expensing, unless there are also </span></div><div class=\"ps7152 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">service and/or performance conditions.</span></div><div class=\"ps5460 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">No expense is recognised for awards that do not ultimately vest as a </span></div><div class=\"ps7025 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">result non-market performance and/or service conditions not being </span></div><div class=\"ps7026 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">met. </span></div><div class=\"ps5463 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Where awards include a market or non-vesting condition, the </span></div><div class=\"ps5464 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">transactions are treated as vested regardless of whether the market </span></div><div class=\"ps5465 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">or non-vesting condition is satisfied, provided that all other </span></div><div class=\"ps5466 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">performance and/or service conditions are satisfied.</span></div><div class=\"ps7028 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The dilutive effect of outstanding options is reflected as additional </span></div><div class=\"ps5468 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">share dilution in the computation of diluted earnings per share in a </span></div><div class=\"ps5469 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">loss situation only where the loss per share is reduced.</span></div><span class=\"f charStyle-c1b8f9f6 ps10162\">hare premium reserve represents capital contributed by investors in excess of the nominal value of the </span><div class=\"ps401 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">shares issued, net of any incremental costs directly attributable to the issuance of new shares.</span></div><div class=\"ps381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Own equity instruments that are reacquired (treasury shares) are recognised at cost and deducted from </span></div><div class=\"ps382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">equity. No gain or loss is recognised in profit or loss on the purchase, sale, issue or cancellation of the </span></div><div class=\"ps383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Group\u2019s own equity instruments. Any difference between the carrying amount and the consideration </span></div><div class=\"ps384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">received, upon reissuance, is recognised in equity.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-534": {
   "value": "<div class=\"ps8159 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps918\">Equity-settled transactions<span id=\"ide32f3e76d934c0fb38aac612e53c8e7\"></span></span></div><div class=\"ps8160 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">The cost of equity-settled transactions is determined by the fair value </span></div><div class=\"ps8161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">at the date on which the grant is made using an appropriate </span></div><div class=\"ps8162 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">valuation model. That cost is recognised as employee benefits </span></div><div class=\"ps4214 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">expenses, together with a corresponding increase in equity (retained </span></div><div class=\"ps4215 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">earnings), over the period in which the service and, where applicable, </span></div><div class=\"ps4216 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">the performance conditions are fulfilled (the vesting period). The </span></div><div class=\"ps4217 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">cumulative expense recognised for equity-settled transactions at each </span></div><div class=\"ps4218 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">reporting date until the vesting date reflects both the extent to which </span></div><div class=\"ps3246 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">the vesting period has expired and the Group\u2019s best estimate of the </span></div><div class=\"ps8163 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">number of equity instruments that will ultimately vest. The expense or </span></div><div class=\"ps8164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">credit in the statement of profit or loss for a period represents the </span></div><div class=\"ps1932 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">movement in cumulative expense recognised at the beginning and </span></div><div class=\"ps1933 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">end of that period.</span></div><div class=\"ps7019 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Service and non-market performance conditions are not considered </span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">when determining the grant date fair value of awards. Instead, the </span></div><div class=\"ps7146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">likelihood of these conditions being met is assessed as part of the </span></div><div class=\"ps7149 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Group\u2019s best estimate of the number of equity instruments that will </span></div><div class=\"ps7564 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">ultimately vest. Market performance conditions are reflected directly </span></div><div class=\"ps7565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">in the grant date fair value.</span></div><div class=\"ps7103 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Any other conditions attached to an award, that do not include an </span></div><div class=\"ps7104 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">associated service requirement, are considered to be non-vesting </span></div><div class=\"ps7150 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">conditions. Non-vesting conditions are reflected in the fair value of </span></div><div class=\"ps7151 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">an award and result in an immediate expensing, unless there are also </span></div><div class=\"ps7152 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">service and/or performance conditions.</span></div><div class=\"ps5460 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">No expense is recognised for awards that do not ultimately vest as a </span></div><div class=\"ps7025 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">result non-market performance and/or service conditions not being </span></div><div class=\"ps7026 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">met. </span></div><div class=\"ps5463 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Where awards include a market or non-vesting condition, the </span></div><div class=\"ps5464 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">transactions are treated as vested regardless of whether the market </span></div><div class=\"ps5465 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">or non-vesting condition is satisfied, provided that all other </span></div><div class=\"ps5466 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">performance and/or service conditions are satisfied.</span></div><div class=\"ps7028 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The dilutive effect of outstanding options is reflected as additional </span></div><div class=\"ps5468 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">share dilution in the computation of diluted earnings per share in a </span></div><div class=\"ps5469 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">loss situation only where the loss per share is reduced.</span></div><div class=\"ps7498 ss0\"><div class=\"ss194 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:191.25pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss746\"><div><div class=\"ps7604 ss701\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9551 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-281247bf ps3727\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9552 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-054ead99 ps3727\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5299 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-054ead99 ps3727\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps442 ss746\"><div><div class=\"ps4431 ss701\"><span class=\"f charStyle-b07b4361 ps42\">Derivative assets measured at fair value<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps463 ss746\"><div><div class=\"ps4431 ss701\"><span class=\"f charStyle-1bac868e ps633\">Interest from IRS recycled through OCI<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10486 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10487 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">228</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10488 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5507 ss746\"><div><div class=\"ps4431 ss701\"><span class=\"f charStyle-1bac868e ps633\">Interest rate swaps<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10489 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7271\">2,171</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10490 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7271\">1,287</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10491 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">338</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5516 ss746\"><div><div class=\"ps4431 ss701\"><span class=\"f charStyle-1bac868e ps633\">FX forward contracts<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10492 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">511</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10493 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7271\">6,849</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10494 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5521 ss746\"><div><div class=\"ps4431 ss701\"><span class=\"f charStyle-1bac868e ps633\">FX option collars<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10495 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10496 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7271\">4,764</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10497 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5526 ss746\"><div><div class=\"ps4431 ss701\"><span class=\"f charStyle-1bac868e ps633\">Time value of FX option collars through OCI<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10498 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10499 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7271\">5,340</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10500 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps62 ss746\"><div><div class=\"ps4431 ss701\"><span class=\"f charStyle-b07b4361 ps42\">Total derivative assets<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10501 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.86pt\"></span></span><span class=\"ps6081\">2,682</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10502 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7284\">18,468</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10503 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.46pt\"></span></span><span class=\"ps9576\">338</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5160 ss746\"><div><div class=\"ps4431 ss701\"><span class=\"f charStyle-b07b4361 ps42\">Derivative liabilities measured at fair value<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5534 ss746\"><div><div class=\"ps4431 ss701\"><span class=\"f charStyle-1bac868e ps633\">Interest rate swap<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10504 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7253\">10,499</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10505 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7253\">16,231</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10506 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7253\">11,789</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5539 ss746\"><div><div class=\"ps4431 ss701\"><span class=\"f charStyle-1bac868e ps633\">FX forward contracts<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10507 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10508 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10509 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7271\">5,338</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5540 ss746\"><div><div class=\"ps4431 ss701\"><span class=\"f charStyle-1bac868e ps633\">Interest recycled through OCI<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10510 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">525</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10511 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10512 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">810</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5546 ss746\"><div><div class=\"ps4431 ss701\"><span class=\"f charStyle-1bac868e ps633\">Time value of FX option collars through OCI<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10513 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">576</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10514 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">209</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10515 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7271\">3,621</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps4009 ss746\"><div><div class=\"ps4431 ss701\"><span class=\"f charStyle-1bac868e ps633\">Derivatives ineffective hedges<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10516 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7271\">2,116</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10517 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.85pt\"></span></span><span class=\"ps9567\">(26)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10518 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">403</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5553 ss746\"><div><div class=\"ps4431 ss701\"><span class=\"f charStyle-b07b4361 ps42\">Total derivative liabilities<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10519 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7284\">13,716</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10520 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7284\">16,414</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10521 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7284\">21,961</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7019 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">As of </span><span class=\"f charStyle-c1b8f9f6 ps9637\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps9638\">, the fair value of the derivative assets amounted to </span><span class=\"f charStyle-c1b8f9f6 ps10523\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10524\"> </span><span class=\"f charStyle-c1b8f9f6 ps10525\">2,682 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10526\"> (</span><span class=\"f charStyle-c1b8f9f6 ps10527\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10528\">: </span><span class=\"f charStyle-c1b8f9f6 ps10529\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10530\"> </span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">18,468 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10531\">; </span><span class=\"f charStyle-c1b8f9f6 ps10532\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10533\">: EUR </span><span class=\"f charStyle-c1b8f9f6 ps10534\">338 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10535\">) and derivative liabilities amounted to </span><span class=\"f charStyle-c1b8f9f6 ps10536\">13,716 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10537\"> (</span><span class=\"f charStyle-c1b8f9f6 ps10538\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10539\">: </span><span class=\"f charStyle-c1b8f9f6 ps10540\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10541\"> </span></div><div class=\"ps7146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">16,414 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10542\">; </span><span class=\"f charStyle-c1b8f9f6 ps10543\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10544\">: </span><span class=\"f charStyle-c1b8f9f6 ps10545\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10546\"> </span><span class=\"f charStyle-c1b8f9f6 ps10547\">21,961 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10548\">). The variation primarily reflects the execution of certain </span></div><div class=\"ps7149 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">financial instruments, together with changes in interest rate expectations in 2025 compared to 2024. These </span></div><div class=\"ps7564 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">expectations were driven by more persistent inflation and continued economic resilience, resulting in higher </span></div><div class=\"ps7565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">interest rates and a stronger USD.</span></div><div class=\"ps7103 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">As of </span><span class=\"f charStyle-c1b8f9f6 ps9637\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps9638\">, derivatives measured at fair value through profit or loss amounted to a gain of </span></div><div class=\"ps7104 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9065\"> </span><span class=\"f charStyle-c1b8f9f6 ps9066\">2,116 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10549\"> gain (</span><span class=\"f charStyle-c1b8f9f6 ps10550\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10551\">: </span><span class=\"f charStyle-c1b8f9f6 ps10552\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10553\"> </span><span class=\"f charStyle-c1b8f9f6 ps10554\">26 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10555\"> loss; </span><span class=\"f charStyle-c1b8f9f6 ps10556\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10557\">: </span><span class=\"f charStyle-c1b8f9f6 ps10558\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10559\"> </span><span class=\"f charStyle-c1b8f9f6 ps10560\">403 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10561\"> gain). </span></div><div class=\"ps427 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The fair value hierarchy for the above derivative financial instruments is Level 2. </span></div><div><div id=\"i60a9312555114c61b3ebee7078e135c5_2722\" style=\"position:absolute;top:42.52pt\"></div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 24</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Derivative Financial Instruments<span id=\"i74bbd761097e4b5eb3a43ac604fcbb59\"></span></span></div><div class=\"ps6908 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Hedge accounting<span id=\"id5794f3801f142039fd8b90cd16b8edf\"></span></span></div><div class=\"ps6910 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group uses forward exchange contracts, including options (collars), and interest rate swap contracts to </span></div><div class=\"ps6912 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">hedge currency and interest rate risks related to highly probable future cash flows, and designates these </span></div><div class=\"ps2779 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">instruments as cash flow hedges, subject to meeting the criteria for the application of cash flow hedge </span></div><div class=\"ps2780 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">accounting. </span></div><div class=\"ps7565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The hedging ratios are determined as the notional value of the hedging instrument divided by the notional </span></div><div class=\"ps6922 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">value of the hedged item. The Group seeks to establish hedge relationships with a hedging ratio of 1:1. Due </span></div><div class=\"ps6923 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">to the nature of the hedged item\u2019s risk, this is achieved by either designating a proportion of the hedging </span></div><div class=\"ps6926 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">instrument or by insuring that the hedge notional value is equal to or lower than the notional value of the </span></div><div class=\"ps2785 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">hedged item. The primary source of hedge ineffectiveness arises from the timing of vessel deliveries. The </span></div><div class=\"ps2786 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">delivery of the vessel exposes the Group to multiple market risks, primarily foreign currency risks and </span></div><div class=\"ps2787 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">interest rate risk. The fair value changes of the hedging instruments are recognised in other comprehensive </span></div><div class=\"ps2788 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">income until the hedged items are recognised or realised. </span></div><div class=\"ps6910 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">The table below shows the movement in the reserve for cash flow for hedging, listed by the hedged risk.</span></div><div class=\"ps10443 ss0\"><div class=\"ss119 ws0 ps2915\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:234pt\"></td><td style=\"padding:0;width:60pt\"></td><td style=\"padding:0;width:60pt\"></td><td style=\"padding:0;width:60pt\"></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss748\"><div><div class=\"ps6190 ss747\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10562 ss325\"><div><div class=\"ps4278 ss288\"><span class=\"f charStyle-281247bf ps3861\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10563 ss325\"><div><div class=\"ps4278 ss288\"><span class=\"f charStyle-054ead99 ps3861\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10564 ss325\"><div><div class=\"ps4278 ss288\"><span class=\"f charStyle-054ead99 ps3861\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4283 ss749\"><div><div class=\"ps2693 ss747\"><span class=\"f charStyle-b07b4361 ps42\">Fair Value change of Cash flow hedges<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td colspan=\"2\" style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5184 ss749\"><div><div class=\"ps2693 ss747\"><span class=\"f charStyle-1bac868e ps633\">Cumulative fair value change at 1 January<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10566 ss443\"><div><div class=\"ps2693 ss288\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10565\">1,799</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10568 ss443\"><div><div class=\"ps2693 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.35pt\"></span></span><span class=\"ps10567\">(21,559)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10569 ss443\"><div><div class=\"ps2693 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10565\">1,343</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5193 ss749\"><div><div class=\"ps2693 ss747\"><span class=\"f charStyle-1bac868e ps633\">Fair value adjustment at year-end, net<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10570 ss443\"><div><div class=\"ps2693 ss288\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.35pt\"></span></span><span class=\"ps10567\">(10,168)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10572 ss443\"><div><div class=\"ps2693 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.77pt\"></span></span><span class=\"ps10571\">13,079</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10573 ss443\"><div><div class=\"ps2693 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.35pt\"></span></span><span class=\"ps10567\">(18,505)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5200 ss749\"><div><div class=\"ps2693 ss747\"><span class=\"f charStyle-1bac868e ps633\">Items recycled at year-end, net<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10574 ss443\"><div><div class=\"ps2693 ss288\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10565\">2,582</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10575 ss443\"><div><div class=\"ps2693 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10565\">1,527</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10577 ss443\"><div><div class=\"ps2693 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:31pt\"></span></span><span class=\"ps10576\">(776)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5209 ss749\"><div><div class=\"ps5182 ss747\"><span class=\"f charStyle-1bac868e ps633\">Transfer of cash flow hedge reserve to property, plant <span class=\"f ps43\"> </span></span></div><div class=\"ps5183 ss747\"><span class=\"f charStyle-1bac868e ps633\">and equipment</span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10578 ss443\"><div><div class=\"ps2693 ss288\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10565\">2,536</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10580 ss443\"><div><div class=\"ps2693 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10579\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10581 ss443\"><div><div class=\"ps2693 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10579\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5677 ss749\"><div><div class=\"ps2693 ss747\"><span class=\"f charStyle-1bac868e ps633\">Time value adjustment at year-end, net<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10582 ss443\"><div><div class=\"ps2693 ss288\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.2pt\"></span></span><span class=\"ps7379\">(5,707)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10583 ss443\"><div><div class=\"ps2693 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10565\">8,752</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10584 ss443\"><div><div class=\"ps2693 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.2pt\"></span></span><span class=\"ps7379\">(3,621)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6295 ss749\"><div><div class=\"ps2693 ss747\"><span class=\"f charStyle-b07b4361 ps42\">Cumulative fair value change at 31 December<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10585 ss443\"><div><div class=\"ps2693 ss288\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.22pt\"></span></span><span class=\"ps7361\">(8,958)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10587 ss443\"><div><div class=\"ps2693 ss288\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.86pt\"></span></span><span class=\"ps10586\">1,799</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10589 ss443\"><div><div class=\"ps2693 ss288\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:16.05pt\"></span></span><span class=\"ps10588\">(21,559)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps6296 ss749\"><div><div class=\"ps5182 ss747\"><span class=\"f charStyle-b07b4361 ps42\">The fair value of cash flow hedges at 31 December <span class=\"f ps43\"> </span></span></div><div class=\"ps5183 ss747\"><span class=\"f charStyle-b07b4361 ps42\">can be specified as follows:</span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td colspan=\"2\" style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps9929 ss749\"><div><div class=\"ps2693 ss747\"><span class=\"f charStyle-1bac868e ps633\">Interest rate risk hedging<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10590 ss443\"><div><div class=\"ps2693 ss288\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.2pt\"></span></span><span class=\"ps7379\">(9,839)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10591 ss443\"><div><div class=\"ps2693 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.35pt\"></span></span><span class=\"ps10567\">(14,945)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10592 ss443\"><div><div class=\"ps2693 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.35pt\"></span></span><span class=\"ps10567\">(11,790)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps9933 ss749\"><div><div class=\"ps2693 ss747\"><span class=\"f charStyle-1bac868e ps633\">Foreign currency risk hedging<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10593 ss443\"><div><div class=\"ps2693 ss288\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10565\">1,457</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10594 ss443\"><div><div class=\"ps2693 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.77pt\"></span></span><span class=\"ps10571\">11,612</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10595 ss443\"><div><div class=\"ps2693 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.2pt\"></span></span><span class=\"ps7379\">(6,148)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps7489 ss749\"><div><div class=\"ps2693 ss747\"><span class=\"f charStyle-1bac868e ps633\">Foreign currency risk hedging - time value<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10596 ss443\"><div><div class=\"ps2693 ss288\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:31pt\"></span></span><span class=\"ps10576\">(576)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10597 ss443\"><div><div class=\"ps2693 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10565\">5,132</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10598 ss443\"><div><div class=\"ps2693 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.2pt\"></span></span><span class=\"ps7379\">(3,621)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9942 ss749\"><div><div class=\"ps2693 ss747\"><span class=\"f charStyle-b07b4361 ps42\">Cumulative fair value change at 31 December<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10599 ss443\"><div><div class=\"ps2693 ss288\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.22pt\"></span></span><span class=\"ps7361\">(8,958)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10600 ss443\"><div><div class=\"ps2693 ss288\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.86pt\"></span></span><span class=\"ps10586\">1,799</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10601 ss443\"><div><div class=\"ps2693 ss288\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:16.05pt\"></span></span><span class=\"ps10588\">(21,559)</span></span></div></div></div></td></tr></tbody></table></div></div></div></div><div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Interest rate risk<span id=\"i295b7d3cae0a455994b5dd56fa5ae766\"></span></span></div><div class=\"ps372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group entered interest rate swap contracts with its main bank and designated these in relation to the </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Green Corporate Facility, P-class Facility and future loans to finance the purchase of the newbuild vessels. </span></div><div class=\"ps400 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Further details regarding the Group\u2019s current debt facilities related to interest rate swaps are provided in </span></div><div class=\"ps7422 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 25.</span></div><div class=\"ps376 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The interest rate risk arising from the loans has been partially hedged by swapping exposure from 3M </span></div><div class=\"ps377 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">EURIBOR to a fixed interest rate. The credit facilities continue to expose the Group to changes in the 3M </span></div><div class=\"ps378 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">EURIBOR rate.</span></div><div class=\"ps7438 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The average fixed rate of the swaps is </span><span class=\"f charStyle-c1b8f9f6 ps10604\">2.83%</span><span class=\"f charStyle-c1b8f9f6 ps10605\"> (</span><span class=\"f charStyle-c1b8f9f6 ps10606\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10607\">: </span><span class=\"f charStyle-c1b8f9f6 ps10608\">2.78%</span><span class=\"f charStyle-c1b8f9f6 ps10609\">; </span><span class=\"f charStyle-c1b8f9f6 ps10610\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10611\">: </span><span class=\"f charStyle-c1b8f9f6 ps10612\">2.81%</span><span class=\"f charStyle-c1b8f9f6 ps10613\">). </span></div><div class=\"ps7439 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">A further portion of the exposure has been hedged through interest rate swap contracts with caps and </span></div><div class=\"ps7440 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">floors. The average fixed rate of the cap/floor swaps falls between </span><span class=\"f charStyle-c1b8f9f6 ps10614\">2.1%</span><span class=\"f charStyle-c1b8f9f6 ps10615\"> and </span><span class=\"f charStyle-c1b8f9f6 ps10616\">1.1%</span><span class=\"f charStyle-c1b8f9f6 ps10617\">.</span></div><div class=\"ps10618 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The economic relationship is established through a match of critical terms between the hedged item and </span></div><div class=\"ps8590 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the hedging instrument. The Group has assessed the following terms when entering into the hedge </span></div><div class=\"ps10619 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">relationship:</span></div><div class=\"ps10622 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps10620\">\u25e6<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps10621\">Instalments on the facilities.</span></div><div class=\"ps2436 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps10620\">\u25e6<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps10621\">Payment date of interest and instalment.</span></div><div class=\"ps2503 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps10620\">\u25e6<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps10621\">Timing difference in the maturity of the hedge item and hedge instrument.</span></div><div class=\"ps4989 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The expected causes of hedge ineffectiveness relate to:</span></div><div class=\"ps2861 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps10620\">\u25e6<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps10621\">Changes to the expected date of delivery of the vessels.</span></div><div class=\"ps4517 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps10620\">\u25e6<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps10621\">3M EURIBOR rate falling below </span><span class=\"f charStyle-c1b8f9f6 ps10623\">0%</span><span class=\"f charStyle-c1b8f9f6 ps10624\">.</span></div><div class=\"ps3615 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The table below shows the nominal amounts and the fair values of the interest rate swaps.</span></div><div class=\"ps7498 ss0\"><div class=\"ss177 ws0 ps1056\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:126pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:53.25pt\"></td><td style=\"padding:0;width:53.25pt\"></td><td style=\"padding:0;width:54.75pt\"></td><td style=\"padding:0;width:45pt\"></td><td style=\"padding:0;width:45pt\"></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td colspan=\"2\" style=\"padding:0\"><div class=\"ps10630 ss751\"><div><div class=\"ps5618 ss750\"><span class=\"f charStyle-054ead99 ps10629\">Fair Value EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:36.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps1978 ss752\"><div><div class=\"ps10631 ss94\"><span class=\"f charStyle-4979afbe ps42\">Notional amount EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10637 ss753\"><div><div class=\"ps5646 ss338\"><span class=\"f charStyle-281247bf ps10632\">Less <span class=\"f ps43\"> </span></span></div><div class=\"ps10634 ss338\"><span class=\"f charStyle-281247bf ps10633\">than 1 </span></div><div class=\"ps10636 ss338\"><span class=\"f charStyle-281247bf ps10635\">year</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10641 ss754\"><div><div class=\"ps5646 ss225\"><span class=\"f charStyle-281247bf ps10638\">Between <span class=\"f ps43\"> </span></span></div><div class=\"ps10634 ss225\"><span class=\"f charStyle-281247bf ps10639\">1 and 2 </span></div><div class=\"ps10636 ss225\"><span class=\"f charStyle-281247bf ps10640\">years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10642 ss754\"><div><div class=\"ps5646 ss225\"><span class=\"f charStyle-281247bf ps10638\">Between <span class=\"f ps43\"> </span></span></div><div class=\"ps10634 ss225\"><span class=\"f charStyle-281247bf ps10639\">2 and 5 </span></div><div class=\"ps10636 ss225\"><span class=\"f charStyle-281247bf ps10640\">years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10645 ss755\"><div><div class=\"ps10634 ss454\"><span class=\"f charStyle-281247bf ps10643\">More than <span class=\"f ps43\"> </span></span></div><div class=\"ps10636 ss454\"><span class=\"f charStyle-281247bf ps10644\">5 years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10647 ss756\"><div><div class=\"ps10636 ss162\"><span class=\"f charStyle-281247bf ps10646\">Asset<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10649 ss756\"><div><div class=\"ps10636 ss162\"><span class=\"f charStyle-281247bf ps10648\">Liability<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2065 ss757\"><div><div class=\"ps4431 ss94\"><span class=\"f charStyle-b07b4361 ps42\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"background-color:#206079;padding:0\"><div class=\"ps10650 ss757\"><div><div class=\"ps4431 ss94\"><span class=\"f charStyle-48c03ae0 ps633\">IRS \u2013 EURIBOR 3M<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10652 ss758\"><div><div class=\"ps4431 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.72pt\"></span></span><span class=\"ps10651\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10653 ss611\"><div><div class=\"ps4431 ss225\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:13.17pt\"></span></span><span class=\"ps7623\">150,000</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10654 ss611\"><div><div class=\"ps4431 ss225\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:13.17pt\"></span></span><span class=\"ps7623\">576,703</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10656 ss759\"><div><div class=\"ps4431 ss454\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:14.67pt\"></span></span><span class=\"ps10655\">141,875</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10657 ss676\"><div><div class=\"ps4431 ss162\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:14.62pt\"></span></span><span class=\"ps8889\">2,172</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10659 ss676\"><div><div class=\"ps4431 ss162\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:4.35pt\"></span></span><span class=\"ps10658\">(10,499)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps7370 ss757\"><div><div class=\"ps4431 ss94\"><span class=\"f charStyle-b07b4361 ps42\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5671 ss757\"><div><div class=\"ps4431 ss94\"><span class=\"f charStyle-1bac868e ps633\">IRS \u2013 EURIBOR 3M<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10660 ss758\"><div><div class=\"ps4431 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.72pt\"></span></span><span class=\"ps10651\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10661 ss611\"><div><div class=\"ps4431 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.22pt\"></span></span><span class=\"ps7612\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10662 ss611\"><div><div class=\"ps4431 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:13.17pt\"></span></span><span class=\"ps7623\">355,117</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10663 ss759\"><div><div class=\"ps4431 ss454\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:14.67pt\"></span></span><span class=\"ps10655\">455,625</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10664 ss676\"><div><div class=\"ps4431 ss162\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:14.62pt\"></span></span><span class=\"ps8889\">1,286</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10665 ss676\"><div><div class=\"ps4431 ss162\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:4.35pt\"></span></span><span class=\"ps10658\">(16,231)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps6347 ss757\"><div><div class=\"ps4431 ss94\"><span class=\"f charStyle-b07b4361 ps42\">2023<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps6295 ss757\"><div><div class=\"ps4431 ss94\"><span class=\"f charStyle-1bac868e ps633\">IRS \u2013 EURIBOR 3M<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10666 ss758\"><div><div class=\"ps4431 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.72pt\"></span></span><span class=\"ps10651\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10667 ss611\"><div><div class=\"ps4431 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.22pt\"></span></span><span class=\"ps7612\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10668 ss611\"><div><div class=\"ps4431 ss225\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:13.17pt\"></span></span><span class=\"ps7623\">555,000</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10670 ss759\"><div><div class=\"ps4431 ss454\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.72pt\"></span></span><span class=\"ps10669\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10671 ss676\"><div><div class=\"ps4431 ss162\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.97pt\"></span></span><span class=\"ps8901\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10672 ss676\"><div><div class=\"ps4431 ss162\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:4.35pt\"></span></span><span class=\"ps10658\">(11,790)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:12.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps694 ss760\"><div><div class=\"ps6268 ss94\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10674 ss470\"><div><div class=\"ps5116 ss454\"><span class=\"f charStyle-281247bf ps4635\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10675 ss761\"><div><div class=\"ps5116 ss162\"><span class=\"f charStyle-054ead99 ps6369\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps4402 ss761\"><div><div class=\"ps5116 ss162\"><span class=\"f charStyle-054ead99 ps6369\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps3986 ss762\"><div><div class=\"ps5619 ss94\"><span class=\"f charStyle-b07b4361 ps42\">Movements in the hedging <span class=\"f ps43\"> </span></span></div><div class=\"ps5618 ss94\"><span class=\"f charStyle-b07b4361 ps42\">reserve</span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps2903 ss762\"><div><div class=\"ps5618 ss94\"><span class=\"f charStyle-1bac868e ps633\">Beginning of year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10677 ss455\"><div><div class=\"ps5618 ss454\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:14.1pt\"></span></span><span class=\"ps10676\">(14,945)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10678 ss171\"><div><div class=\"ps5618 ss162\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:4.35pt\"></span></span><span class=\"ps10658\">(11,790)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10679 ss171\"><div><div class=\"ps5618 ss162\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:14.62pt\"></span></span><span class=\"ps8889\">3,163</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps805 ss762\"><div><div class=\"ps5619 ss94\"><span class=\"f charStyle-1bac868e ps633\">Fair value adjustment for <span class=\"f ps43\"> </span></span></div><div class=\"ps5618 ss94\"><span class=\"f charStyle-1bac868e ps633\">the year</span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10680 ss455\"><div><div class=\"ps5618 ss454\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.37pt\"></span></span><span class=\"ps7788\">5,864</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10681 ss171\"><div><div class=\"ps5618 ss162\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:9.2pt\"></span></span><span class=\"ps6814\">(3,265)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10682 ss171\"><div><div class=\"ps5618 ss162\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:4.35pt\"></span></span><span class=\"ps10658\">(14,177)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5755 ss762\"><div><div class=\"ps5618 ss94\"><span class=\"f charStyle-1bac868e ps633\">Ineffectiveness<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10684 ss455\"><div><div class=\"ps5618 ss454\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.95pt\"></span></span><span class=\"ps10683\">(1,511)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10685 ss171\"><div><div class=\"ps5618 ss162\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.97pt\"></span></span><span class=\"ps8901\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10686 ss171\"><div><div class=\"ps5618 ss162\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.97pt\"></span></span><span class=\"ps8901\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps4645 ss762\"><div><div class=\"ps5618 ss94\"><span class=\"f charStyle-1bac868e ps633\">Items recycled for the year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10687 ss455\"><div><div class=\"ps5618 ss454\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7791\">753</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10688 ss171\"><div><div class=\"ps5618 ss162\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.42pt\"></span></span><span class=\"ps6787\">110</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10689 ss171\"><div><div class=\"ps5618 ss162\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:16pt\"></span></span><span class=\"ps6816\">(776)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10690 ss762\"><div><div class=\"ps5618 ss94\"><span class=\"f charStyle-b07b4361 ps42\">End of year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10692 ss455\"><div><div class=\"ps5618 ss454\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:15.97pt\"></span></span><span class=\"ps10691\">(9,839)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10694 ss171\"><div><div class=\"ps5618 ss162\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:1.05pt\"></span></span><span class=\"ps10693\">(14,945)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10695 ss171\"><div><div class=\"ps5618 ss162\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:1.05pt\"></span></span><span class=\"ps10693\">(11,790)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Foreign currency risk hedging<span id=\"i54edb84666704c6887debf34649e5c53\"></span></span></div><div class=\"ps372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">As a result of the contracts signed with COSCO and Hanwha for the construction of the newbuild vessels, </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the Group is exposed to foreign exchange risk, as instalment payments are denominated in USD, while the </span></div><div class=\"ps400 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">functional currency is </span><span class=\"f charStyle-c1b8f9f6 ps10696\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10697\">. The final instalments are payable upon delivery of the vessels. </span></div><div class=\"ps375 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The currency exposure arising from these contracts has been swapped into </span><span class=\"f charStyle-c1b8f9f6 ps10698\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10699\"> at an average USD:</span><span class=\"f charStyle-c1b8f9f6 ps10700\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10701\"> rate </span></div><div class=\"ps376 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">of </span><span class=\"f charStyle-c1b8f9f6 ps10215\">0.8586</span><span class=\"f charStyle-c1b8f9f6 ps10702\"> (</span><span class=\"f charStyle-c1b8f9f6 ps10703\">0.9107</span><span class=\"f charStyle-c1b8f9f6 ps10704\"> for </span><span class=\"f charStyle-c1b8f9f6 ps10705\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10706\"> and </span><span class=\"f charStyle-c1b8f9f6 ps10707\">0.9187</span><span class=\"f charStyle-c1b8f9f6 ps10708\"> for </span><span class=\"f charStyle-c1b8f9f6 ps10709\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10710\">). </span></div><div class=\"ps10713 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">A further portion of the exposure to fluctuations in future exchange rates has been hedged through </span><span class=\"f charStyle-c1b8f9f6 ps10711\">zero</span><span class=\"f charStyle-c1b8f9f6 ps10712\">-</span></div><div class=\"ps10283 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">cost collar contracts, securing an average USD:</span><span class=\"f charStyle-c1b8f9f6 ps10714\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10715\"> rate ranging between </span><span class=\"f charStyle-c1b8f9f6 ps10716\">0.8607</span><span class=\"f charStyle-c1b8f9f6 ps7929\"> and </span><span class=\"f charStyle-c1b8f9f6 ps10717\">0.9092</span><span class=\"f charStyle-c1b8f9f6 ps10718\">. As of </span></div><div class=\"ps7438 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps8018\">, the total coverage effectively mitigates approximately </span><span class=\"f charStyle-c1b8f9f6 ps10719\">42%</span><span class=\"f charStyle-c1b8f9f6 ps10720\"> on average of the Group\u2019s </span></div><div class=\"ps380 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">foreign exchange risk related to future USD denominated instalments under the A-class vessel contracts.</span></div><div class=\"ps7440 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The economic relationship is established through a match of critical terms between the hedge item and </span></div><div class=\"ps7441 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">hedge instrument. The Group has assessed the following terms when entering into the hedge relationship:</span></div><div class=\"ps8590 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps10620\">\u25e6<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps10621\">Payment dates of instalments in foreign currency.</span></div><div class=\"ps10721 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps10620\">\u25e6<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps10621\">Maturity of the hedged item and hedged instruments (forward contract and option </span></div><div class=\"ps10622 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps10621\">collars).</span></div><div class=\"ps2436 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The expected causes of hedging ineffectiveness primarily relate to changes in the expected delivery dates of </span></div><div class=\"ps2437 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the vessel. The table below presents the nominal amounts and fair values of the foreign currency forward </span></div><div class=\"ps2438 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">contracts and option collars.</span></div><div class=\"ps7498 ss0\"><div class=\"ss177 ws0 ps1056\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:135.75pt\"></td><td style=\"padding:0;width:59.25pt\"></td><td style=\"padding:0;width:59.25pt\"></td><td style=\"padding:0;width:59.25pt\"></td><td style=\"padding:0;width:51.75pt\"></td><td style=\"padding:0;width:51.75pt\"></td></tr><tr style=\"height:12.75pt\"><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td colspan=\"2\" style=\"padding:0\"><div class=\"ps7825 ss764\"><div><div class=\"ps5116 ss734\"><span class=\"f charStyle-054ead99 ps10723\">Fair Value EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps4675 ss765\"><div><div class=\"ps8179 ss763\"><span class=\"f charStyle-4979afbe ps42\">Notational amount USD'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10724 ss448\"><div><div class=\"ps5619 ss148\"><span class=\"f charStyle-281247bf ps10351\">Less than 1 <span class=\"f ps43\"> </span></span></div><div class=\"ps5618 ss148\"><span class=\"f charStyle-281247bf ps10352\">year</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10725 ss448\"><div><div class=\"ps5619 ss148\"><span class=\"f charStyle-281247bf ps10354\">Between 1 <span class=\"f ps43\"> </span></span></div><div class=\"ps5618 ss148\"><span class=\"f charStyle-281247bf ps10355\">and 2 years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10726 ss448\"><div><div class=\"ps5619 ss148\"><span class=\"f charStyle-281247bf ps10354\">Between 2 <span class=\"f ps43\"> </span></span></div><div class=\"ps5618 ss148\"><span class=\"f charStyle-281247bf ps10355\">and 5 years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10728 ss766\"><div><div class=\"ps5618 ss378\"><span class=\"f charStyle-281247bf ps10727\">Asset<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10730 ss766\"><div><div class=\"ps5618 ss378\"><span class=\"f charStyle-281247bf ps10729\">Liability<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5635 ss767\"><div><div class=\"ps5116 ss763\"><span class=\"f charStyle-b07b4361 ps42\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:12.75pt\"><td style=\"background-color:#206079;padding:0\"><div class=\"ps3733 ss767\"><div><div class=\"ps5116 ss763\"><span class=\"f charStyle-48c03ae0 ps633\">FX forward contracts<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10731 ss458\"><div><div class=\"ps5116 ss148\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10378\">162,295</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10732 ss458\"><div><div class=\"ps5116 ss148\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10361\">48,800</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10733 ss458\"><div><div class=\"ps5116 ss148\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10363\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10734 ss768\"><div><div class=\"ps5116 ss378\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8210\">511</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10736 ss768\"><div><div class=\"ps5116 ss378\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:33.72pt\"></span></span><span class=\"ps10735\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"background-color:#206079;padding:0\"><div class=\"ps52 ss767\"><div><div class=\"ps5116 ss763\"><span class=\"f charStyle-48c03ae0 ps633\">Option collars<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10737 ss458\"><div><div class=\"ps5116 ss148\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10378\">159,875</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps6856 ss458\"><div><div class=\"ps5116 ss148\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10361\">48,800</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps53 ss458\"><div><div class=\"ps5116 ss148\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10363\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10738 ss768\"><div><div class=\"ps5116 ss378\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:33.72pt\"></span></span><span class=\"ps10735\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10739 ss768\"><div><div class=\"ps5116 ss378\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.75pt\"></span></span><span class=\"ps8345\">(576)</span></span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"padding:0\"><div class=\"ps6508 ss767\"><div><div class=\"ps5116 ss763\"><span class=\"f charStyle-b07b4361 ps42\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:12.75pt\"><td style=\"padding:0\"><div class=\"ps5200 ss767\"><div><div class=\"ps5116 ss763\"><span class=\"f charStyle-1bac868e ps633\">FX forward contracts<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10740 ss458\"><div><div class=\"ps5116 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10378\">104,545</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10741 ss458\"><div><div class=\"ps5116 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10361\">55,398</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10742 ss458\"><div><div class=\"ps5116 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10363\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10743 ss768\"><div><div class=\"ps5116 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.37pt\"></span></span><span class=\"ps8194\">6,849</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10744 ss768\"><div><div class=\"ps5116 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:33.72pt\"></span></span><span class=\"ps10735\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"padding:0\"><div class=\"ps5521 ss767\"><div><div class=\"ps5116 ss763\"><span class=\"f charStyle-1bac868e ps633\">Option collars<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10745 ss458\"><div><div class=\"ps5116 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10378\">300,000</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10746 ss458\"><div><div class=\"ps5116 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10378\">100,000</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10747 ss458\"><div><div class=\"ps5116 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10363\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7844 ss768\"><div><div class=\"ps5116 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:16.52pt\"></span></span><span class=\"ps10748\">10,104</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10749 ss768\"><div><div class=\"ps5116 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.75pt\"></span></span><span class=\"ps8345\">(209)</span></span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"padding:0\"><div class=\"ps2301 ss767\"><div><div class=\"ps5116 ss763\"><span class=\"f charStyle-b07b4361 ps42\">2023<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:12.75pt\"><td style=\"padding:0\"><div class=\"ps2269 ss767\"><div><div class=\"ps5116 ss763\"><span class=\"f charStyle-1bac868e ps633\">FX forward contracts<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10750 ss458\"><div><div class=\"ps5116 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10378\">150,000</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10751 ss458\"><div><div class=\"ps5116 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10361\">50,000</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10752 ss458\"><div><div class=\"ps5116 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10363\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10753 ss768\"><div><div class=\"ps5116 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:33.72pt\"></span></span><span class=\"ps10735\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10755 ss768\"><div><div class=\"ps5116 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:15.95pt\"></span></span><span class=\"ps10754\">(5,338)</span></span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"padding:0\"><div class=\"ps2086 ss767\"><div><div class=\"ps5116 ss763\"><span class=\"f charStyle-1bac868e ps633\">Option collars<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10756 ss458\"><div><div class=\"ps5116 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10363\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10757 ss458\"><div><div class=\"ps5116 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10378\">250,000</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10758 ss458\"><div><div class=\"ps5116 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10361\">50,000</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10759 ss768\"><div><div class=\"ps5116 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:33.72pt\"></span></span><span class=\"ps10735\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10760 ss768\"><div><div class=\"ps5116 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:15.95pt\"></span></span><span class=\"ps10754\">(4,431)</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:12.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10761 ss767\"><div><div class=\"ps6268 ss763\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10762 ss458\"><div><div class=\"ps5116 ss148\"><span class=\"f charStyle-281247bf ps6077\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10764 ss768\"><div><div class=\"ps5116 ss378\"><span class=\"f charStyle-054ead99 ps10763\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10765 ss768\"><div><div class=\"ps5116 ss378\"><span class=\"f charStyle-054ead99 ps10763\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7394 ss765\"><div><div class=\"ps5619 ss763\"><span class=\"f charStyle-b07b4361 ps42\">Movements in the hedging <span class=\"f ps43\"> </span></span></div><div class=\"ps5618 ss763\"><span class=\"f charStyle-b07b4361 ps42\">reserve</span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:12.75pt\"><td style=\"padding:0\"><div class=\"ps2219 ss767\"><div><div class=\"ps5116 ss763\"><span class=\"f charStyle-1bac868e ps633\">Beginning of year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10766 ss458\"><div><div class=\"ps5116 ss148\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10361\">16,744</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10767 ss768\"><div><div class=\"ps5116 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:15.95pt\"></span></span><span class=\"ps10754\">(9,769)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10768 ss768\"><div><div class=\"ps5116 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:15.95pt\"></span></span><span class=\"ps10754\">(1,820)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5998 ss765\"><div><div class=\"ps5619 ss763\"><span class=\"f charStyle-1bac868e ps633\">Fair value adjustment for the <span class=\"f ps43\"> </span></span></div><div class=\"ps5618 ss763\"><span class=\"f charStyle-1bac868e ps633\">year - FX forward contracts</span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10769 ss448\"><div><div class=\"ps5618 ss148\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.6pt\"></span></span><span class=\"ps4508\">(10,990)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10770 ss766\"><div><div class=\"ps5618 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:16.52pt\"></span></span><span class=\"ps10748\">10,771</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10771 ss766\"><div><div class=\"ps5618 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:15.95pt\"></span></span><span class=\"ps10754\">(3,518)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5546 ss765\"><div><div class=\"ps5619 ss763\"><span class=\"f charStyle-1bac868e ps633\">Fair value adjustment for the <span class=\"f ps43\"> </span></span></div><div class=\"ps5618 ss763\"><span class=\"f charStyle-1bac868e ps633\">year - Option collars</span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10772 ss448\"><div><div class=\"ps5618 ss148\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10455\">(4,764)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10773 ss766\"><div><div class=\"ps5618 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.37pt\"></span></span><span class=\"ps8194\">5,573</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10774 ss766\"><div><div class=\"ps5618 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.75pt\"></span></span><span class=\"ps8345\">(810)</span></span></div></div></div></td></tr><tr style=\"height:36.75pt\"><td style=\"padding:0\"><div class=\"ps6445 ss769\"><div><div class=\"ps5646 ss763\"><span class=\"f charStyle-1bac868e ps633\">Transfer of cash flow hedge <span class=\"f ps43\"> </span></span></div><div class=\"ps10634 ss763\"><span class=\"f charStyle-1bac868e ps633\">reserve to property, plant and </span></div><div class=\"ps10636 ss763\"><span class=\"f charStyle-1bac868e ps633\">equipment</span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10775 ss770\"><div><div class=\"ps10636 ss148\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10373\">2,536</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10776 ss771\"><div><div class=\"ps10636 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:33.72pt\"></span></span><span class=\"ps10735\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10777 ss771\"><div><div class=\"ps10636 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:33.72pt\"></span></span><span class=\"ps10735\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"padding:0\"><div class=\"ps10778 ss767\"><div><div class=\"ps5116 ss763\"><span class=\"f charStyle-1bac868e ps633\">Items recycled for the year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10779 ss458\"><div><div class=\"ps5116 ss148\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10373\">3,062</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10780 ss768\"><div><div class=\"ps5116 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.37pt\"></span></span><span class=\"ps8194\">1,417</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10781 ss768\"><div><div class=\"ps5116 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:33.72pt\"></span></span><span class=\"ps10735\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps10782 ss765\"><div><div class=\"ps5619 ss763\"><span class=\"f charStyle-1bac868e ps633\">Time value adjustment for the <span class=\"f ps43\"> </span></span></div><div class=\"ps5618 ss763\"><span class=\"f charStyle-1bac868e ps633\">year</span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10783 ss448\"><div><div class=\"ps5618 ss148\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10455\">(5,708)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10784 ss766\"><div><div class=\"ps5618 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.37pt\"></span></span><span class=\"ps8194\">8,752</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10785 ss766\"><div><div class=\"ps5618 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:15.95pt\"></span></span><span class=\"ps10754\">(3,621)</span></span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps4041 ss767\"><div><div class=\"ps5116 ss763\"><span class=\"f charStyle-b07b4361 ps42\">End of year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10787 ss458\"><div><div class=\"ps5116 ss148\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.71pt\"></span></span><span class=\"ps10786\">880</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10789 ss768\"><div><div class=\"ps5116 ss378\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:14.44pt\"></span></span><span class=\"ps10788\">16,744</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps4042 ss768\"><div><div class=\"ps5116 ss378\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:12.97pt\"></span></span><span class=\"ps10790\">(9,769)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies<span id=\"ic09a383af8ab4b488bf22a7990e12a85\"></span></span></div><div class=\"ps372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Derivative financial instruments are initially recognised at fair value on the date the derivative contract is </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">entered into and are subsequently remeasured at fair value through profit and loss. Derivatives are carried </span></div><div class=\"ps400 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">as financial assets, presented as derivative assets, when the fair value is positive and as financial liabilities, </span></div><div class=\"ps7422 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">presented as derivative liabilities, when the fair value is negative.</span></div><div class=\"ps376 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">At the inception of a hedge relationship, the Group formally designates and documents the hedge </span></div><div class=\"ps377 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">relationship, including the risk management objective and strategy for undertaking the hedge.</span></div><div class=\"ps10283 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Changes in the fair value of derivative financial instruments designated as cash flow hedges are recognised </span></div><div class=\"ps7438 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">in other comprehensive income and presented under \u201cHedging reserves\u201d (equity). Where the expected </span></div><div class=\"ps380 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">future transactions result in the acquisition of non-financial assets, amounts deferred in equity are </span></div><div class=\"ps381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">transferred from equity and included in the cost of the asset. Where expected future transactions result in </span></div><div class=\"ps382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">income or expenses, amounts deferred under in equity are transferred from equity to the statement of </span></div><div class=\"ps383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">profit and loss, in the same item as the hedged transaction, as a reclassification adjustment. In addition, the </span></div><div class=\"ps384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">entity may transfer the cumulative fair value changes recognised in equity upon derecognition of the </span></div><div class=\"ps403 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">hedged item. </span></div><div class=\"ps386 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Changes in the fair value of derivative financial instruments not designated as hedges are recognised in the </span></div><div class=\"ps404 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">statement of profit and loss. Certain borrowing facilities when undrawn do not qualify for hedge </span></div><div class=\"ps405 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">accounting. Changes in the fair value of these derivative financial instruments are therefore recognised in </span></div><div class=\"ps406 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the statement of profit and loss under \u201cFinancial income\u201d or \u201cFinancial expenses\u201d for interest rate swaps. </span></div><div class=\"ps390 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The amount included in the hedging reserve is the lower, in absolute terms, of the cumulative fair value </span></div><div class=\"ps391 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">adjustment of the hedging instrument and the hedged item. Hedge ineffectiveness is recognised in the </span></div><div class=\"ps408 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">consolidated statement of profit and loss. Cost of hedging reserves include the time value of options. </span></div><div class=\"ps409 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">These costs are recognised separately in Other Comprehensive Income (OCI) and are amortised over the </span></div><div class=\"ps410 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">life of the hedging instrument, in accordance with the specific hedging relationship. If the hedge is </span></div><div class=\"ps411 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">discontinued, any unamortised cost of hedging is recognised immediately in profit or loss.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-536": {
   "value": "<div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 9</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Financial Income and Expenses<span id=\"i446ab1e952044c41b7f76281d1072f7a\"></span></span></div><div class=\"ps7670 ss0\"><div class=\"ss615 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:219.75pt\"></td><td style=\"padding:0;width:64.5pt\"></td><td style=\"padding:0;width:64.5pt\"></td><td style=\"padding:0;width:64.5pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss653\"><div><div class=\"ps750 ss359\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8499 ss655\"><div><div class=\"ps44 ss654\"><span class=\"f charStyle-281247bf ps8498\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8500 ss655\"><div><div class=\"ps44 ss654\"><span class=\"f charStyle-054ead99 ps8498\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps1976 ss655\"><div><div class=\"ps44 ss654\"><span class=\"f charStyle-054ead99 ps8498\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps46 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Foreign currency gain<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8502 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">5,784</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8503 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">1,511</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8505 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">109</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps634 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Fair value change of derivative (ineffectiveness)<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8507 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.47pt\"></span></span><span class=\"ps8506\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8508 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">428</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8509 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.47pt\"></span></span><span class=\"ps8506\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5266 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Interest income<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8510 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">1,714</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8511 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">3,294</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8512 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">1,432</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2072 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-b07b4361 ps42\">Financial income<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8514 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8513\">7,498</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8515 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8513\">5,233</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8516 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8513\">1,541</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps8529 ss0\"><div class=\"ss615 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:219.75pt\"></td><td style=\"padding:0;width:64.5pt\"></td><td style=\"padding:0;width:64.5pt\"></td><td style=\"padding:0;width:64.5pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss653\"><div><div class=\"ps750 ss359\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8499 ss655\"><div><div class=\"ps44 ss654\"><span class=\"f charStyle-281247bf ps8498\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8500 ss655\"><div><div class=\"ps44 ss654\"><span class=\"f charStyle-054ead99 ps8498\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps1976 ss655\"><div><div class=\"ps44 ss654\"><span class=\"f charStyle-054ead99 ps8498\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps46 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Interest linked to debt liabilities<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8502 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.27pt\"></span></span><span class=\"ps6056\">21,209</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8503 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">2,368</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8505 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">2,851</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps634 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Guarantee charges<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8507 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">994</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8508 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">581</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8509 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.47pt\"></span></span><span class=\"ps8506\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5266 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Fair value change of derivative (ineffectiveness)<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8510 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">1,577</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8511 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.47pt\"></span></span><span class=\"ps8506\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8512 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">765</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps2072 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Lease liabilities<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8514 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">1,065</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8515 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">428</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8516 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:45.77pt\"></span></span><span class=\"ps8518\">25</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps770 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Foreign currency loss<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8519 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.27pt\"></span></span><span class=\"ps6056\">10,558</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8520 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">3,322</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8521 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">389</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5151 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Bank fees<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8522 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">1,974</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8523 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">501</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8524 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">456</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7696 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-b07b4361 ps42\">Financial expenses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8526 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.19pt\"></span></span><span class=\"ps8525\">37,377</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8527 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8513\">7,200</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8528 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8513\">4,486</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps8538 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Total interest paid in </span><span class=\"f charStyle-c1b8f9f6 ps8530\">2025</span><span class=\"f charStyle-c1b8f9f6 ps8531\"> as per Consolidated Statement of Cash Flows amounts to </span><span class=\"f charStyle-c1b8f9f6 ps8532\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8533\"> </span><span class=\"f charStyle-c1b8f9f6 ps8534\">56 million</span><span class=\"f charStyle-c1b8f9f6 ps8535\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8536\">2024</span><span class=\"f charStyle-c1b8f9f6 ps8537\">: </span></div><div class=\"ps7594 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">19.7 million</span><span class=\"f charStyle-c1b8f9f6 ps8539\">; </span><span class=\"f charStyle-c1b8f9f6 ps8540\">2023</span><span class=\"f charStyle-c1b8f9f6 ps7176\">: </span><span class=\"f charStyle-c1b8f9f6 ps8541\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8542\"> </span><span class=\"f charStyle-c1b8f9f6 ps8543\">7.1 million</span><span class=\"f charStyle-c1b8f9f6 ps8544\">) and has primarily </span><span class=\"f charStyle-c1b8f9f6 ps8545\">been capitalised to Property, Plant and Equipment. </span></div><div class=\"ps8554 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">For further information refer to </span><span class=\"f charStyle-c1b8f9f6 ps8546\">Note 13. </span><span class=\"f charStyle-c1b8f9f6 ps8547\">Interest linked to debt liabilities include </span><span class=\"f charStyle-c1b8f9f6 ps8548\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8549\"> </span><span class=\"f charStyle-c1b8f9f6 ps8550\">2.4 million</span><span class=\"f charStyle-c1b8f9f6 ps8551\"> in </span><span class=\"f charStyle-c1b8f9f6 ps8552\">2024</span><span class=\"f charStyle-c1b8f9f6 ps8553\"> and </span></div><div class=\"ps8558 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">1.9\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8555\"> in </span><span class=\"f charStyle-c1b8f9f6 ps8556\">2023</span><span class=\"f charStyle-c1b8f9f6 ps8557\"> relating to the write off of loan fees associated with previous debt facilities. In </span></div><div class=\"ps8563 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">addition, in 2023, </span><span class=\"f charStyle-c1b8f9f6 ps8559\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8560\"> </span><span class=\"f charStyle-c1b8f9f6 ps8561\">1.0\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8562\"> relates to the amendment of a prior debt facility in June 2023.</span></div><div class=\"ps6908 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Accounting policies<span id=\"i87a40683dcc746a6b776ffeef0cb9094\"></span></span></div><div class=\"ps6910 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Finance income and expenses comprise interest income and expenses, as well as realised and unrealised </span></div><div class=\"ps6912 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">exchange rate gains and losses on transactions denominated in foreign currencies, together with fair value </span></div><div class=\"ps2779 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">adjustments related to the ineffective portion of financial instruments.</span></div><div class=\"ps7564 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Interest income and interest expenses are recognised using the effective interest rate. The effective interest </span></div><div class=\"ps7565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">rate is the discount rate used to discount expected future cash payments or receipts over the expected life </span></div><div class=\"ps6922 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">of a financial asset or financial liability to the amortised cost (carrying amount) of such asset or liability.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-535": {
   "value": "<div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 9</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Financial Income and Expenses<span id=\"i446ab1e952044c41b7f76281d1072f7a\"></span></span></div><div class=\"ps7670 ss0\"><div class=\"ss615 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:219.75pt\"></td><td style=\"padding:0;width:64.5pt\"></td><td style=\"padding:0;width:64.5pt\"></td><td style=\"padding:0;width:64.5pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss653\"><div><div class=\"ps750 ss359\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8499 ss655\"><div><div class=\"ps44 ss654\"><span class=\"f charStyle-281247bf ps8498\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8500 ss655\"><div><div class=\"ps44 ss654\"><span class=\"f charStyle-054ead99 ps8498\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps1976 ss655\"><div><div class=\"ps44 ss654\"><span class=\"f charStyle-054ead99 ps8498\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps46 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Foreign currency gain<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8502 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">5,784</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8503 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">1,511</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8505 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">109</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps634 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Fair value change of derivative (ineffectiveness)<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8507 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.47pt\"></span></span><span class=\"ps8506\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8508 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">428</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8509 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.47pt\"></span></span><span class=\"ps8506\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5266 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Interest income<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8510 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">1,714</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8511 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">3,294</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8512 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">1,432</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2072 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-b07b4361 ps42\">Financial income<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8514 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8513\">7,498</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8515 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8513\">5,233</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8516 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8513\">1,541</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps8529 ss0\"><div class=\"ss615 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:219.75pt\"></td><td style=\"padding:0;width:64.5pt\"></td><td style=\"padding:0;width:64.5pt\"></td><td style=\"padding:0;width:64.5pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss653\"><div><div class=\"ps750 ss359\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8499 ss655\"><div><div class=\"ps44 ss654\"><span class=\"f charStyle-281247bf ps8498\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8500 ss655\"><div><div class=\"ps44 ss654\"><span class=\"f charStyle-054ead99 ps8498\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps1976 ss655\"><div><div class=\"ps44 ss654\"><span class=\"f charStyle-054ead99 ps8498\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps46 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Interest linked to debt liabilities<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8502 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.27pt\"></span></span><span class=\"ps6056\">21,209</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8503 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">2,368</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8505 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">2,851</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps634 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Guarantee charges<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8507 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">994</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8508 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">581</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8509 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.47pt\"></span></span><span class=\"ps8506\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5266 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Fair value change of derivative (ineffectiveness)<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8510 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">1,577</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8511 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.47pt\"></span></span><span class=\"ps8506\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8512 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">765</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps2072 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Lease liabilities<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8514 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">1,065</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8515 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">428</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8516 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:45.77pt\"></span></span><span class=\"ps8518\">25</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps770 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Foreign currency loss<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8519 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.27pt\"></span></span><span class=\"ps6056\">10,558</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8520 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">3,322</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8521 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">389</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5151 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Bank fees<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8522 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">1,974</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8523 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">501</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8524 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">456</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7696 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-b07b4361 ps42\">Financial expenses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8526 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.19pt\"></span></span><span class=\"ps8525\">37,377</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8527 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8513\">7,200</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8528 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8513\">4,486</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps8538 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Total interest paid in </span><span class=\"f charStyle-c1b8f9f6 ps8530\">2025</span><span class=\"f charStyle-c1b8f9f6 ps8531\"> as per Consolidated Statement of Cash Flows amounts to </span><span class=\"f charStyle-c1b8f9f6 ps8532\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8533\"> </span><span class=\"f charStyle-c1b8f9f6 ps8534\">56 million</span><span class=\"f charStyle-c1b8f9f6 ps8535\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8536\">2024</span><span class=\"f charStyle-c1b8f9f6 ps8537\">: </span></div><div class=\"ps7594 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">19.7 million</span><span class=\"f charStyle-c1b8f9f6 ps8539\">; </span><span class=\"f charStyle-c1b8f9f6 ps8540\">2023</span><span class=\"f charStyle-c1b8f9f6 ps7176\">: </span><span class=\"f charStyle-c1b8f9f6 ps8541\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8542\"> </span><span class=\"f charStyle-c1b8f9f6 ps8543\">7.1 million</span><span class=\"f charStyle-c1b8f9f6 ps8544\">) and has primarily </span><span class=\"f charStyle-c1b8f9f6 ps8545\">been capitalised to Property, Plant and Equipment. </span></div><div class=\"ps8554 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">For further information refer to </span><span class=\"f charStyle-c1b8f9f6 ps8546\">Note 13. </span><span class=\"f charStyle-c1b8f9f6 ps8547\">Interest linked to debt liabilities include </span><span class=\"f charStyle-c1b8f9f6 ps8548\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8549\"> </span><span class=\"f charStyle-c1b8f9f6 ps8550\">2.4 million</span><span class=\"f charStyle-c1b8f9f6 ps8551\"> in </span><span class=\"f charStyle-c1b8f9f6 ps8552\">2024</span><span class=\"f charStyle-c1b8f9f6 ps8553\"> and </span></div><div class=\"ps8558 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">1.9\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8555\"> in </span><span class=\"f charStyle-c1b8f9f6 ps8556\">2023</span><span class=\"f charStyle-c1b8f9f6 ps8557\"> relating to the write off of loan fees associated with previous debt facilities. In </span></div><div class=\"ps8563 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">addition, in 2023, </span><span class=\"f charStyle-c1b8f9f6 ps8559\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8560\"> </span><span class=\"f charStyle-c1b8f9f6 ps8561\">1.0\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8562\"> relates to the amendment of a prior debt facility in June 2023.</span></div><div class=\"ps6908 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Accounting policies<span id=\"i87a40683dcc746a6b776ffeef0cb9094\"></span></span></div><div class=\"ps6910 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Finance income and expenses comprise interest income and expenses, as well as realised and unrealised </span></div><div class=\"ps6912 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">exchange rate gains and losses on transactions denominated in foreign currencies, together with fair value </span></div><div class=\"ps2779 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">adjustments related to the ineffective portion of financial instruments.</span></div><div class=\"ps7564 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Interest income and interest expenses are recognised using the effective interest rate. The effective interest </span></div><div class=\"ps7565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">rate is the discount rate used to discount expected future cash payments or receipts over the expected life </span></div><div class=\"ps6922 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">of a financial asset or financial liability to the amortised cost (carrying amount) of such asset or liability.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-538": {
   "value": "<div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 9</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Financial Income and Expenses<span id=\"i446ab1e952044c41b7f76281d1072f7a\"></span></span></div><div class=\"ps7670 ss0\"><div class=\"ss615 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:219.75pt\"></td><td style=\"padding:0;width:64.5pt\"></td><td style=\"padding:0;width:64.5pt\"></td><td style=\"padding:0;width:64.5pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss653\"><div><div class=\"ps750 ss359\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8499 ss655\"><div><div class=\"ps44 ss654\"><span class=\"f charStyle-281247bf ps8498\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8500 ss655\"><div><div class=\"ps44 ss654\"><span class=\"f charStyle-054ead99 ps8498\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps1976 ss655\"><div><div class=\"ps44 ss654\"><span class=\"f charStyle-054ead99 ps8498\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps46 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Foreign currency gain<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8502 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">5,784</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8503 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">1,511</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8505 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">109</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps634 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Fair value change of derivative (ineffectiveness)<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8507 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.47pt\"></span></span><span class=\"ps8506\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8508 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">428</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8509 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.47pt\"></span></span><span class=\"ps8506\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5266 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Interest income<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8510 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">1,714</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8511 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">3,294</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8512 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">1,432</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2072 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-b07b4361 ps42\">Financial income<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8514 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8513\">7,498</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8515 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8513\">5,233</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8516 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8513\">1,541</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6908 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Accounting policies<span id=\"i87a40683dcc746a6b776ffeef0cb9094\"></span></span></div><div class=\"ps6910 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Finance income and expenses comprise interest income and expenses, as well as realised and unrealised </span></div><div class=\"ps6912 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">exchange rate gains and losses on transactions denominated in foreign currencies, together with fair value </span></div><div class=\"ps2779 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">adjustments related to the ineffective portion of financial instruments.</span></div><div class=\"ps7564 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Interest income and interest expenses are recognised using the effective interest rate. The effective interest </span></div><div class=\"ps7565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">rate is the discount rate used to discount expected future cash payments or receipts over the expected life </span></div><div class=\"ps6922 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">of a financial asset or financial liability to the amortised cost (carrying amount) of such asset or liability.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-537": {
   "value": "<div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 9</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Financial Income and Expenses<span id=\"i446ab1e952044c41b7f76281d1072f7a\"></span></span></div><div class=\"ps8529 ss0\"><div class=\"ss615 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:219.75pt\"></td><td style=\"padding:0;width:64.5pt\"></td><td style=\"padding:0;width:64.5pt\"></td><td style=\"padding:0;width:64.5pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss653\"><div><div class=\"ps750 ss359\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8499 ss655\"><div><div class=\"ps44 ss654\"><span class=\"f charStyle-281247bf ps8498\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8500 ss655\"><div><div class=\"ps44 ss654\"><span class=\"f charStyle-054ead99 ps8498\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps1976 ss655\"><div><div class=\"ps44 ss654\"><span class=\"f charStyle-054ead99 ps8498\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps46 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Interest linked to debt liabilities<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8502 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.27pt\"></span></span><span class=\"ps6056\">21,209</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8503 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">2,368</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8505 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">2,851</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps634 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Guarantee charges<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8507 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">994</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8508 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">581</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8509 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.47pt\"></span></span><span class=\"ps8506\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5266 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Fair value change of derivative (ineffectiveness)<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8510 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">1,577</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8511 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.47pt\"></span></span><span class=\"ps8506\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8512 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">765</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps2072 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Lease liabilities<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8514 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">1,065</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8515 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">428</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8516 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:45.77pt\"></span></span><span class=\"ps8518\">25</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps770 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Foreign currency loss<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8519 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.27pt\"></span></span><span class=\"ps6056\">10,558</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8520 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">3,322</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8521 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">389</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5151 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Bank fees<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8522 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">1,974</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8523 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">501</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8524 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">456</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7696 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-b07b4361 ps42\">Financial expenses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8526 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.19pt\"></span></span><span class=\"ps8525\">37,377</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8527 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8513\">7,200</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8528 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8513\">4,486</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps8538 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Total interest paid in </span><span class=\"f charStyle-c1b8f9f6 ps8530\">2025</span><span class=\"f charStyle-c1b8f9f6 ps8531\"> as per Consolidated Statement of Cash Flows amounts to </span><span class=\"f charStyle-c1b8f9f6 ps8532\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8533\"> </span><span class=\"f charStyle-c1b8f9f6 ps8534\">56 million</span><span class=\"f charStyle-c1b8f9f6 ps8535\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8536\">2024</span><span class=\"f charStyle-c1b8f9f6 ps8537\">: </span></div><div class=\"ps7594 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">19.7 million</span><span class=\"f charStyle-c1b8f9f6 ps8539\">; </span><span class=\"f charStyle-c1b8f9f6 ps8540\">2023</span><span class=\"f charStyle-c1b8f9f6 ps7176\">: </span><span class=\"f charStyle-c1b8f9f6 ps8541\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8542\"> </span><span class=\"f charStyle-c1b8f9f6 ps8543\">7.1 million</span><span class=\"f charStyle-c1b8f9f6 ps8544\">) and has primarily </span><span class=\"f charStyle-c1b8f9f6 ps8545\">been capitalised to Property, Plant and Equipment. </span></div><div class=\"ps8554 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">For further information refer to </span><span class=\"f charStyle-c1b8f9f6 ps8546\">Note 13. </span><span class=\"f charStyle-c1b8f9f6 ps8547\">Interest linked to debt liabilities include </span><span class=\"f charStyle-c1b8f9f6 ps8548\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8549\"> </span><span class=\"f charStyle-c1b8f9f6 ps8550\">2.4 million</span><span class=\"f charStyle-c1b8f9f6 ps8551\"> in </span><span class=\"f charStyle-c1b8f9f6 ps8552\">2024</span><span class=\"f charStyle-c1b8f9f6 ps8553\"> and </span></div><div class=\"ps8558 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">1.9\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8555\"> in </span><span class=\"f charStyle-c1b8f9f6 ps8556\">2023</span><span class=\"f charStyle-c1b8f9f6 ps8557\"> relating to the write off of loan fees associated with previous debt facilities. In </span></div><div class=\"ps8563 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">addition, in 2023, </span><span class=\"f charStyle-c1b8f9f6 ps8559\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8560\"> </span><span class=\"f charStyle-c1b8f9f6 ps8561\">1.0\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8562\"> relates to the amendment of a prior debt facility in June 2023.</span></div><div class=\"ps6908 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Accounting policies<span id=\"i87a40683dcc746a6b776ffeef0cb9094\"></span></span></div><div class=\"ps6910 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Finance income and expenses comprise interest income and expenses, as well as realised and unrealised </span></div><div class=\"ps6912 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">exchange rate gains and losses on transactions denominated in foreign currencies, together with fair value </span></div><div class=\"ps2779 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">adjustments related to the ineffective portion of financial instruments.</span></div><div class=\"ps7564 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Interest income and interest expenses are recognised using the effective interest rate. The effective interest </span></div><div class=\"ps7565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">rate is the discount rate used to discount expected future cash payments or receipts over the expected life </span></div><div class=\"ps6922 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">of a financial asset or financial liability to the amortised cost (carrying amount) of such asset or liability.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-540": {
   "value": "<div class=\"ps7670 ss0\"><div class=\"ss615 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:219.75pt\"></td><td style=\"padding:0;width:64.5pt\"></td><td style=\"padding:0;width:64.5pt\"></td><td style=\"padding:0;width:64.5pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss653\"><div><div class=\"ps750 ss359\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8499 ss655\"><div><div class=\"ps44 ss654\"><span class=\"f charStyle-281247bf ps8498\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8500 ss655\"><div><div class=\"ps44 ss654\"><span class=\"f charStyle-054ead99 ps8498\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps1976 ss655\"><div><div class=\"ps44 ss654\"><span class=\"f charStyle-054ead99 ps8498\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps46 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Foreign currency gain<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8502 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">5,784</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8503 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">1,511</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8505 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">109</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps634 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Fair value change of derivative (ineffectiveness)<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8507 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.47pt\"></span></span><span class=\"ps8506\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8508 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">428</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8509 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.47pt\"></span></span><span class=\"ps8506\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5266 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Interest income<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8510 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">1,714</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8511 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">3,294</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8512 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">1,432</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2072 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-b07b4361 ps42\">Financial income<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8514 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8513\">7,498</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8515 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8513\">5,233</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8516 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8513\">1,541</span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-539": {
   "value": "<div class=\"ps7670 ss0\"><div class=\"ss615 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:219.75pt\"></td><td style=\"padding:0;width:64.5pt\"></td><td style=\"padding:0;width:64.5pt\"></td><td style=\"padding:0;width:64.5pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss653\"><div><div class=\"ps750 ss359\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8499 ss655\"><div><div class=\"ps44 ss654\"><span class=\"f charStyle-281247bf ps8498\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8500 ss655\"><div><div class=\"ps44 ss654\"><span class=\"f charStyle-054ead99 ps8498\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps1976 ss655\"><div><div class=\"ps44 ss654\"><span class=\"f charStyle-054ead99 ps8498\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps46 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Foreign currency gain<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8502 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">5,784</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8503 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">1,511</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8505 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">109</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps634 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Fair value change of derivative (ineffectiveness)<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8507 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.47pt\"></span></span><span class=\"ps8506\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8508 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">428</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8509 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.47pt\"></span></span><span class=\"ps8506\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5266 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Interest income<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8510 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">1,714</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8511 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">3,294</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8512 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">1,432</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2072 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-b07b4361 ps42\">Financial income<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8514 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8513\">7,498</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8515 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8513\">5,233</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8516 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8513\">1,541</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps8538 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Total interest paid in </span><span class=\"f charStyle-c1b8f9f6 ps8530\">2025</span><span class=\"f charStyle-c1b8f9f6 ps8531\"> as per Consolidated Statement of Cash Flows amounts to </span><span class=\"f charStyle-c1b8f9f6 ps8532\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8533\"> </span><span class=\"f charStyle-c1b8f9f6 ps8534\">56 million</span><span class=\"f charStyle-c1b8f9f6 ps8535\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8536\">2024</span><span class=\"f charStyle-c1b8f9f6 ps8537\">: </span></div><div class=\"ps7594 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">19.7 million</span><span class=\"f charStyle-c1b8f9f6 ps8539\">; </span><span class=\"f charStyle-c1b8f9f6 ps8540\">2023</span><span class=\"f charStyle-c1b8f9f6 ps7176\">: </span><span class=\"f charStyle-c1b8f9f6 ps8541\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8542\"> </span><span class=\"f charStyle-c1b8f9f6 ps8543\">7.1 million</span><span class=\"f charStyle-c1b8f9f6 ps8544\">) and has primarily </span><span class=\"f charStyle-c1b8f9f6 ps8545\">been capitalised to Property, Plant and Equipment. </span></div><div class=\"ps8554 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">For further information refer to </span><span class=\"f charStyle-c1b8f9f6 ps8546\">Note 13. </span><span class=\"f charStyle-c1b8f9f6 ps8547\">Interest linked to debt liabilities include </span><span class=\"f charStyle-c1b8f9f6 ps8548\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8549\"> </span><span class=\"f charStyle-c1b8f9f6 ps8550\">2.4 million</span><span class=\"f charStyle-c1b8f9f6 ps8551\"> in </span><span class=\"f charStyle-c1b8f9f6 ps8552\">2024</span><span class=\"f charStyle-c1b8f9f6 ps8553\"> and </span></div><div class=\"ps8558 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">1.9\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8555\"> in </span><span class=\"f charStyle-c1b8f9f6 ps8556\">2023</span><span class=\"f charStyle-c1b8f9f6 ps8557\"> relating to the write off of loan fees associated with previous debt facilities. In </span></div><div class=\"ps8563 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">addition, in 2023, </span><span class=\"f charStyle-c1b8f9f6 ps8559\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8560\"> </span><span class=\"f charStyle-c1b8f9f6 ps8561\">1.0\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8562\"> relates to the amendment of a prior debt facility in June 2023.</span></div><div class=\"ps6908 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Accounting policies<span id=\"i87a40683dcc746a6b776ffeef0cb9094\"></span></span></div><div class=\"ps6910 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Finance income and expenses comprise interest income and expenses, as well as realised and unrealised </span></div><div class=\"ps6912 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">exchange rate gains and losses on transactions denominated in foreign currencies, together with fair value </span></div><div class=\"ps2779 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">adjustments related to the ineffective portion of financial instruments.</span></div><div class=\"ps7564 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Interest income and interest expenses are recognised using the effective interest rate. The effective interest </span></div><div class=\"ps7565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">rate is the discount rate used to discount expected future cash payments or receipts over the expected life </span></div><div class=\"ps6922 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">of a financial asset or financial liability to the amortised cost (carrying amount) of such asset or liability.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-541": {
   "value": "<div class=\"ps8529 ss0\"><div class=\"ss615 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:219.75pt\"></td><td style=\"padding:0;width:64.5pt\"></td><td style=\"padding:0;width:64.5pt\"></td><td style=\"padding:0;width:64.5pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss653\"><div><div class=\"ps750 ss359\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8499 ss655\"><div><div class=\"ps44 ss654\"><span class=\"f charStyle-281247bf ps8498\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8500 ss655\"><div><div class=\"ps44 ss654\"><span class=\"f charStyle-054ead99 ps8498\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps1976 ss655\"><div><div class=\"ps44 ss654\"><span class=\"f charStyle-054ead99 ps8498\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps46 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Interest linked to debt liabilities<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8502 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.27pt\"></span></span><span class=\"ps6056\">21,209</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8503 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">2,368</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8505 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">2,851</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps634 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Guarantee charges<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8507 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">994</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8508 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">581</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8509 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.47pt\"></span></span><span class=\"ps8506\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5266 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Fair value change of derivative (ineffectiveness)<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8510 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">1,577</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8511 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.47pt\"></span></span><span class=\"ps8506\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8512 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">765</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps2072 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Lease liabilities<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8514 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">1,065</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8515 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">428</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8516 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:45.77pt\"></span></span><span class=\"ps8518\">25</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps770 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Foreign currency loss<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8519 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.27pt\"></span></span><span class=\"ps6056\">10,558</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8520 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">3,322</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8521 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">389</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5151 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Bank fees<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8522 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">1,974</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8523 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">501</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8524 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">456</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7696 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-b07b4361 ps42\">Financial expenses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8526 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.19pt\"></span></span><span class=\"ps8525\">37,377</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8527 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8513\">7,200</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8528 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8513\">4,486</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps8538 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Total interest paid in </span><span class=\"f charStyle-c1b8f9f6 ps8530\">2025</span><span class=\"f charStyle-c1b8f9f6 ps8531\"> as per Consolidated Statement of Cash Flows amounts to </span><span class=\"f charStyle-c1b8f9f6 ps8532\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8533\"> </span><span class=\"f charStyle-c1b8f9f6 ps8534\">56 million</span><span class=\"f charStyle-c1b8f9f6 ps8535\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8536\">2024</span><span class=\"f charStyle-c1b8f9f6 ps8537\">: </span></div><div class=\"ps7594 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">19.7 million</span><span class=\"f charStyle-c1b8f9f6 ps8539\">; </span><span class=\"f charStyle-c1b8f9f6 ps8540\">2023</span><span class=\"f charStyle-c1b8f9f6 ps7176\">: </span><span class=\"f charStyle-c1b8f9f6 ps8541\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8542\"> </span><span class=\"f charStyle-c1b8f9f6 ps8543\">7.1 million</span><span class=\"f charStyle-c1b8f9f6 ps8544\">) and has primarily </span><span class=\"f charStyle-c1b8f9f6 ps8545\">been capitalised to Property, Plant and Equipment. </span></div><div class=\"ps8554 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">For further information refer to </span><span class=\"f charStyle-c1b8f9f6 ps8546\">Note 13. </span><span class=\"f charStyle-c1b8f9f6 ps8547\">Interest linked to debt liabilities include </span><span class=\"f charStyle-c1b8f9f6 ps8548\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8549\"> </span><span class=\"f charStyle-c1b8f9f6 ps8550\">2.4 million</span><span class=\"f charStyle-c1b8f9f6 ps8551\"> in </span><span class=\"f charStyle-c1b8f9f6 ps8552\">2024</span><span class=\"f charStyle-c1b8f9f6 ps8553\"> and </span></div><div class=\"ps8558 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">1.9\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8555\"> in </span><span class=\"f charStyle-c1b8f9f6 ps8556\">2023</span><span class=\"f charStyle-c1b8f9f6 ps8557\"> relating to the write off of loan fees associated with previous debt facilities. In </span></div><div class=\"ps8563 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">addition, in 2023, </span><span class=\"f charStyle-c1b8f9f6 ps8559\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8560\"> </span><span class=\"f charStyle-c1b8f9f6 ps8561\">1.0\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8562\"> relates to the amendment of a prior debt facility in June 2023.</span></div><div class=\"ps6908 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Accounting policies<span id=\"i87a40683dcc746a6b776ffeef0cb9094\"></span></span></div><div class=\"ps6910 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Finance income and expenses comprise interest income and expenses, as well as realised and unrealised </span></div><div class=\"ps6912 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">exchange rate gains and losses on transactions denominated in foreign currencies, together with fair value </span></div><div class=\"ps2779 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">adjustments related to the ineffective portion of financial instruments.</span></div><div class=\"ps7564 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Interest income and interest expenses are recognised using the effective interest rate. The effective interest </span></div><div class=\"ps7565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">rate is the discount rate used to discount expected future cash payments or receipts over the expected life </span></div><div class=\"ps6922 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">of a financial asset or financial liability to the amortised cost (carrying amount) of such asset or liability.</span></div><div class=\"ps9588 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Leas interest expenses recognised in profit and loss </span></div><div class=\"ps9589 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps186\">1.<span class=\"f ps43\"> </span></span><span class=\"f charStyle-4ecd4cad ps1760\">Interest expense</span></div><div class=\"ps9593 ss0\"><div class=\"ss194 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:191.25pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss704\"><div><div class=\"ps6190 ss701\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9551 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-281247bf ps3727\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9552 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-054ead99 ps3727\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5299 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-054ead99 ps3727\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:27pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4283 ss706\"><div><div class=\"ps8707 ss701\"><span class=\"f charStyle-1bac868e ps633\">Interest expense on lease liabilities (vessels <span class=\"f ps43\"> </span></span></div><div class=\"ps8708 ss701\"><span class=\"f charStyle-1bac868e ps633\">and office)</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9590 ss707\"><div><div class=\"ps8708 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">746</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9591 ss707\"><div><div class=\"ps8708 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">428</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9592 ss707\"><div><div class=\"ps8708 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.27pt\"></span></span><span class=\"ps9565\">25</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps4203 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps186\">1.<span class=\"f ps43\"> </span></span><span class=\"f charStyle-4ecd4cad ps1760\">Lease expense not capitalised in lease liabilities</span></div><div class=\"ps9594 ss0\"><div class=\"ss194 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:191.25pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss704\"><div><div class=\"ps6190 ss701\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9551 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-281247bf ps3727\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9552 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-054ead99 ps3727\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5299 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-054ead99 ps3727\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4283 ss708\"><div><div class=\"ps44 ss701\"><span class=\"f charStyle-1bac868e ps633\">Short-term lease expense<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9590 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">614</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9591 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">477</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9592 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">180</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6933 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Total cas</span><span class=\"f charStyle-c1b8f9f6 ps9595\">h ou</span><span class=\"f charStyle-c1b8f9f6 ps9596\">tflow for all leases in </span><span class=\"f charStyle-c1b8f9f6 ps9597\">2025</span><span class=\"f charStyle-c1b8f9f6 ps9598\">, </span><span class=\"f charStyle-c1b8f9f6 ps9599\">2024</span><span class=\"f charStyle-c1b8f9f6 ps9600\"> and </span><span class=\"f charStyle-c1b8f9f6 ps9601\">2023</span><span class=\"f charStyle-c1b8f9f6 ps9602\"> were</span><span class=\"f charStyle-c1b8f9f6 ps9603\"> </span><span class=\"f charStyle-c1b8f9f6 ps9604\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9605\"> </span><span class=\"f charStyle-c1b8f9f6 ps9606\">2,686</span><span class=\"f charStyle-c1b8f9f6 ps9607\"> thousand</span><span class=\"f charStyle-c1b8f9f6 ps9608\">, </span><span class=\"f charStyle-c1b8f9f6 ps9609\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9610\"> </span><span class=\"f charStyle-c1b8f9f6 ps9611\">1,152\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps9612\"> and </span></div><div class=\"ps9616 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">283\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps9613\"> respectively, excluding variable lease fee (refer to </span><span class=\"f charStyle-c1b8f9f6 ps9614\">Note 24). Please refer to Note 28</span><span class=\"f charStyle-c1b8f9f6 ps9615\"> for </span></div>disclosure on lease commitments.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-542": {
   "value": "<div class=\"ps8529 ss0\"><div class=\"ss615 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:219.75pt\"></td><td style=\"padding:0;width:64.5pt\"></td><td style=\"padding:0;width:64.5pt\"></td><td style=\"padding:0;width:64.5pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss653\"><div><div class=\"ps750 ss359\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8499 ss655\"><div><div class=\"ps44 ss654\"><span class=\"f charStyle-281247bf ps8498\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8500 ss655\"><div><div class=\"ps44 ss654\"><span class=\"f charStyle-054ead99 ps8498\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps1976 ss655\"><div><div class=\"ps44 ss654\"><span class=\"f charStyle-054ead99 ps8498\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps46 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Interest linked to debt liabilities<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8502 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.27pt\"></span></span><span class=\"ps6056\">21,209</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8503 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">2,368</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8505 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">2,851</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps634 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Guarantee charges<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8507 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">994</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8508 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">581</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8509 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.47pt\"></span></span><span class=\"ps8506\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5266 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Fair value change of derivative (ineffectiveness)<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8510 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">1,577</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8511 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.47pt\"></span></span><span class=\"ps8506\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8512 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">765</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps2072 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Lease liabilities<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8514 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">1,065</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8515 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">428</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8516 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:45.77pt\"></span></span><span class=\"ps8518\">25</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps770 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Foreign currency loss<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8519 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.27pt\"></span></span><span class=\"ps6056\">10,558</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8520 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">3,322</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8521 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">389</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5151 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-1bac868e ps633\">Bank fees<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8522 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8501\">1,974</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8523 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">501</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8524 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8504\">456</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7696 ss360\"><div><div class=\"ps438 ss359\"><span class=\"f charStyle-b07b4361 ps42\">Financial expenses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8526 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.19pt\"></span></span><span class=\"ps8525\">37,377</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8527 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8513\">7,200</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8528 ss656\"><div><div class=\"ps438 ss654\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8513\">4,486</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps8538 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Total interest paid in </span><span class=\"f charStyle-c1b8f9f6 ps8530\">2025</span><span class=\"f charStyle-c1b8f9f6 ps8531\"> as per Consolidated Statement of Cash Flows amounts to </span><span class=\"f charStyle-c1b8f9f6 ps8532\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8533\"> </span><span class=\"f charStyle-c1b8f9f6 ps8534\">56 million</span><span class=\"f charStyle-c1b8f9f6 ps8535\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8536\">2024</span><span class=\"f charStyle-c1b8f9f6 ps8537\">: </span></div><div class=\"ps7594 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">19.7 million</span><span class=\"f charStyle-c1b8f9f6 ps8539\">; </span><span class=\"f charStyle-c1b8f9f6 ps8540\">2023</span><span class=\"f charStyle-c1b8f9f6 ps7176\">: </span><span class=\"f charStyle-c1b8f9f6 ps8541\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8542\"> </span><span class=\"f charStyle-c1b8f9f6 ps8543\">7.1 million</span><span class=\"f charStyle-c1b8f9f6 ps8544\">) and has primarily </span><span class=\"f charStyle-c1b8f9f6 ps8545\">been capitalised to Property, Plant and Equipment. </span></div><div class=\"ps8554 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">For further information refer to </span><span class=\"f charStyle-c1b8f9f6 ps8546\">Note 13. </span><span class=\"f charStyle-c1b8f9f6 ps8547\">Interest linked to debt liabilities include </span><span class=\"f charStyle-c1b8f9f6 ps8548\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8549\"> </span><span class=\"f charStyle-c1b8f9f6 ps8550\">2.4 million</span><span class=\"f charStyle-c1b8f9f6 ps8551\"> in </span><span class=\"f charStyle-c1b8f9f6 ps8552\">2024</span><span class=\"f charStyle-c1b8f9f6 ps8553\"> and </span></div><div class=\"ps8558 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">1.9\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8555\"> in </span><span class=\"f charStyle-c1b8f9f6 ps8556\">2023</span><span class=\"f charStyle-c1b8f9f6 ps8557\"> relating to the write off of loan fees associated with previous debt facilities. In </span></div><div class=\"ps8563 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">addition, in 2023, </span><span class=\"f charStyle-c1b8f9f6 ps8559\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8560\"> </span><span class=\"f charStyle-c1b8f9f6 ps8561\">1.0\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8562\"> relates to the amendment of a prior debt facility in June 2023.</span></div><div class=\"ps9588 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Leas interest expenses recognised in profit and loss </span></div><div class=\"ps9589 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps186\">1.<span class=\"f ps43\"> </span></span><span class=\"f charStyle-4ecd4cad ps1760\">Interest expense</span></div><div class=\"ps9593 ss0\"><div class=\"ss194 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:191.25pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss704\"><div><div class=\"ps6190 ss701\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9551 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-281247bf ps3727\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9552 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-054ead99 ps3727\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5299 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-054ead99 ps3727\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:27pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4283 ss706\"><div><div class=\"ps8707 ss701\"><span class=\"f charStyle-1bac868e ps633\">Interest expense on lease liabilities (vessels <span class=\"f ps43\"> </span></span></div><div class=\"ps8708 ss701\"><span class=\"f charStyle-1bac868e ps633\">and office)</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9590 ss707\"><div><div class=\"ps8708 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">746</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9591 ss707\"><div><div class=\"ps8708 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">428</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9592 ss707\"><div><div class=\"ps8708 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.27pt\"></span></span><span class=\"ps9565\">25</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps4203 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps186\">1.<span class=\"f ps43\"> </span></span><span class=\"f charStyle-4ecd4cad ps1760\">Lease expense not capitalised in lease liabilities</span></div><div class=\"ps9594 ss0\"><div class=\"ss194 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:191.25pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss704\"><div><div class=\"ps6190 ss701\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9551 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-281247bf ps3727\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9552 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-054ead99 ps3727\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5299 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-054ead99 ps3727\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4283 ss708\"><div><div class=\"ps44 ss701\"><span class=\"f charStyle-1bac868e ps633\">Short-term lease expense<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9590 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">614</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9591 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">477</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9592 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">180</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6933 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Total cas</span><span class=\"f charStyle-c1b8f9f6 ps9595\">h ou</span><span class=\"f charStyle-c1b8f9f6 ps9596\">tflow for all leases in </span><span class=\"f charStyle-c1b8f9f6 ps9597\">2025</span><span class=\"f charStyle-c1b8f9f6 ps9598\">, </span><span class=\"f charStyle-c1b8f9f6 ps9599\">2024</span><span class=\"f charStyle-c1b8f9f6 ps9600\"> and </span><span class=\"f charStyle-c1b8f9f6 ps9601\">2023</span><span class=\"f charStyle-c1b8f9f6 ps9602\"> were</span><span class=\"f charStyle-c1b8f9f6 ps9603\"> </span><span class=\"f charStyle-c1b8f9f6 ps9604\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9605\"> </span><span class=\"f charStyle-c1b8f9f6 ps9606\">2,686</span><span class=\"f charStyle-c1b8f9f6 ps9607\"> thousand</span><span class=\"f charStyle-c1b8f9f6 ps9608\">, </span><span class=\"f charStyle-c1b8f9f6 ps9609\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9610\"> </span><span class=\"f charStyle-c1b8f9f6 ps9611\">1,152\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps9612\"> and </span></div><div class=\"ps9616 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">283\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps9613\"> respectively, excluding variable lease fee (refer to </span><span class=\"f charStyle-c1b8f9f6 ps9614\">Note 24). Please refer to Note 28</span><span class=\"f charStyle-c1b8f9f6 ps9615\"> for </span></div><div class=\"ps9617 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">disclosure on lease commitments. </span></div><div class=\"ps7019 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-644c6314 ps1008\">Change in debts to credit institutions during the year</span></div><div class=\"ps10466 ss0\"><div class=\"ss177 ws0 ps1056\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:239.25pt\"></td><td style=\"padding:0;width:59.25pt\"></td><td style=\"padding:0;width:59.25pt\"></td><td style=\"padding:0;width:59.25pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss744\"><div><div class=\"ps7604 ss600\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7518 ss745\"><div><div class=\"ps4431 ss148\"><span class=\"f charStyle-281247bf ps6077\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10358 ss745\"><div><div class=\"ps4431 ss148\"><span class=\"f charStyle-054ead99 ps6077\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6040 ss745\"><div><div class=\"ps4431 ss148\"><span class=\"f charStyle-054ead99 ps6077\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps442 ss744\"><div><div class=\"ps438 ss600\"><span class=\"f charStyle-1bac868e ps633\">Debt to credit institutions at 1 January<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10446 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10445\">(571,017)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10447 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10445\">(205,572)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7717 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10445\">(115,002)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps463 ss744\"><div><div class=\"ps438 ss600\"><span class=\"f charStyle-1bac868e ps633\">Loans repayments<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10448 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10378\">279,281</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10449 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10361\">10,630</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7720 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10378\">115,000</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5507 ss744\"><div><div class=\"ps438 ss600\"><span class=\"f charStyle-1bac868e ps633\">Proceeds from borrowing<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10451 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:6.95pt\"></span></span><span class=\"ps10450\">(1,337,178)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10452 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10445\">(385,234)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7724 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10445\">(211,934)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5516 ss744\"><div><div class=\"ps438 ss600\"><span class=\"f charStyle-1bac868e ps633\">New loan fees<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10453 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10361\">25,193</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10454 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10361\">11,100</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7726 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10373\">8,262</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5521 ss744\"><div><div class=\"ps438 ss600\"><span class=\"f charStyle-1bac868e ps633\">Non-cash movements<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10456 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10455\">(7,033)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10457 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10455\">(1,941)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7729 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10363\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5526 ss744\"><div><div class=\"ps438 ss600\"><span class=\"f charStyle-1bac868e ps633\">Write-off of loan fees<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10458 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10363\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10459 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10363\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10460 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10455\">(1,898)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps62 ss744\"><div><div class=\"ps438 ss600\"><span class=\"f charStyle-b07b4361 ps42\">Debt to credit institutions at 31 December 2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10462 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:2.53pt\"></span></span><span class=\"ps10461\">(1,610,754)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10464 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:10.13pt\"></span></span><span class=\"ps10463\">(571,017)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10465 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:10.13pt\"></span></span><span class=\"ps10463\">(205,572)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Capital management<span id=\"i025d8568241546d6b01fee9b47d8e40f\"></span></span></div><div class=\"ps372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Company\u2019s objectives when managing capital are to ensure the </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Company\u2019s ability to continue as a going concern and to maintain an </span></div><div class=\"ps400 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">optimal capital structure.</span></div><div class=\"ps375 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In order to achieve this overall objective, the Company\u2019s capital </span></div><div class=\"ps376 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">management aims, among other things, to ensure compliance wth </span></div><div class=\"ps377 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the financial covenants attached to the interest-bearing loans and </span></div><div class=\"ps378 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">borrowings that define capital structure requirements. A breach of </span></div><div class=\"ps379 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the financial covenants would permit the bank to immediately call </span></div><div class=\"ps401 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">loans and borrowings. There have been no breaches of the financial </span></div><div class=\"ps402 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">covenants of any interest-bearing loans and borrowing in the current </span></div><div class=\"ps10479 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">period.</span></div><div class=\"ps383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In order to maintain or adjust the capital structure in the future, the </span></div><div class=\"ps384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Group may adjust dividend payments to shareholders, issue new </span></div><div class=\"ps403 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">shares and/or dispose of assets to reduce debt. Pursuant to the </span></div><div class=\"ps429 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Green Corporate Facility, the Company is not permitted to pay any </span></div><div class=\"ps430 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">dividends or other distributions without the prior written consent of </span></div><div class=\"ps431 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">DNB Bank ASA.</span></div><div><div id=\"i60a9312555114c61b3ebee7078e135c5_12094627907821\" style=\"position:absolute;top:42.52pt\"></div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 25</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Financial Liabilities: Interest-bearing Loans and Borrowings<span id=\"ia0b999c032cd4b8fa64ba3530eed0930\"></span></span></div><div class=\"ps9276 ss0\"><div class=\"ss790 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:191.25pt\"></td><td style=\"padding:0;width:144.75pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:105.75pt\"></td><td style=\"padding:0;width:75.75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:78pt\"></td><td style=\"padding:0;width:65.25pt\"></td><td style=\"padding:0;width:65.25pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps40 ss746\"><div><div class=\"ps4431 ss701\"><span class=\"f charStyle-b07b4361 ps42\">As of 31 December 2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td colspan=\"3\" style=\"padding:0\"><div class=\"ps10900 ss787\"><div><div class=\"ps4431 ss786\"><span class=\"f charStyle-b07b4361 ps10899\">Committed (EUR millions)<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"padding:0\"><div class=\"ps10901 ss789\"><div><div class=\"ps7604 ss788\"><span class=\"f charStyle-64a4cf84 ps42\">Related derivatives contracts<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps442 ss713\"><div><div class=\"ps8179 ss701\"><span class=\"f charStyle-4979afbe ps42\">EUR Millions<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10793 ss772\"><div><div class=\"ps8179 ss432\"><span class=\"f charStyle-4979afbe ps42\">Interest rate<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10794 ss473\"><div><div class=\"ps8179 ss337\"><span class=\"f charStyle-4979afbe ps42\">Maturity<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10795 ss774\"><div><div class=\"ps8179 ss773\"><span class=\"f charStyle-4979afbe ps42\">Covenants<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10796 ss776\"><div><div class=\"ps5618 ss775\"><span class=\"f charStyle-281247bf ps3979\">Utilised<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10799 ss304\"><div><div class=\"ps5619 ss298\"><span class=\"f charStyle-281247bf ps10797\">Accumulated <span class=\"f ps43\"> </span></span></div><div class=\"ps5618 ss298\"><span class=\"f charStyle-281247bf ps10798\">repayments</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10801 ss777\"><div><div class=\"ps5618 ss317\"><span class=\"f charStyle-281247bf ps10800\">Unutilised<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10803 ss778\"><div><div class=\"ps8179 ss242\"><span class=\"f charStyle-4979afbe ps10802\">Average IRS rate<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10807 ss778\"><div><div class=\"ps10805 ss242\"><span class=\"f charStyle-4979afbe ps10804\">IRS nominal (EUR <span class=\"f ps43\"> </span></span></div><div class=\"ps8179 ss242\"><span class=\"f charStyle-4979afbe ps10806\">millions)</span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps1980 ss779\"><div><div class=\"ps4584 ss701\"><span class=\"f charStyle-b07b4361 ps42\">Secured<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps2129 ss779\"><div><div class=\"ps4584 ss701\"><span class=\"f charStyle-1bac868e ps633\">Green Corporate Facility (RCF + term loan)<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10812 ss780\"><div><div class=\"ps4584 ss432\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3797\">3 months EURIBOR + </span><span class=\"f charStyle-36184c7f ps10809\">2%</span><span class=\"f charStyle-36184c7f ps10810\"> - </span><span class=\"f charStyle-36184c7f ps10811\">2.75%</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10814 ss481\"><div><div class=\"ps4584 ss337\"><span class=\"f charStyle-e5ec5c44 ps10813\">2032<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10816 ss781\"><div><div class=\"ps4584 ss773\"><span class=\"f charStyle-e5ec5c44 ps10815\">Yes - refer to page 203<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10818 ss782\"><div><div class=\"ps4584 ss775\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:52.17pt\"></span></span><span class=\"ps10817\">283</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10819 ss783\"><div><div class=\"ps4584 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.85pt\"></span></span><span class=\"ps9567\">(87)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10821 ss784\"><div><div class=\"ps4584 ss317\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:54.42pt\"></span></span><span class=\"ps10820\">148</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10823 ss785\"><div><div class=\"ps4584 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps10822\"></span><span class=\"ps10822\">2.7</span><span class=\"ps5307\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10824 ss785\"><div><div class=\"ps4584 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.67pt\"></span></span><span class=\"ps9782\">247</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5946 ss779\"><div><div class=\"ps4584 ss701\"><span class=\"f charStyle-1bac868e ps633\">Green Corporate Facility - Guarantee<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10827 ss780\"><div><div class=\"ps4584 ss432\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3797\">0.8%</span><span class=\"f charStyle-36184c7f ps10825\"> - </span><span class=\"f charStyle-36184c7f ps10826\">1.2%</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10828 ss481\"><div><div class=\"ps4584 ss337\"><span class=\"f charStyle-e5ec5c44 ps10813\">2026<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10829 ss781\"><div><div class=\"ps4584 ss773\"><span class=\"f charStyle-e5ec5c44 ps10815\">Yes - refer to page 203<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10830 ss782\"><div><div class=\"ps4584 ss775\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:52.17pt\"></span></span><span class=\"ps10817\">157</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10831 ss783\"><div><div class=\"ps4584 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10833 ss784\"><div><div class=\"ps4584 ss317\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:59.27pt\"></span></span><span class=\"ps10832\">43</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10834 ss785\"><div><div class=\"ps4584 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\"></span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2883 ss779\"><div><div class=\"ps4584 ss701\"><span class=\"f charStyle-b07b4361 ps42\">Total Green Corporate Facility<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10836 ss782\"><div><div class=\"ps4584 ss775\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.21pt\"></span></span><span class=\"ps10835\">440</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10838 ss783\"><div><div class=\"ps4584 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.99pt\"></span></span><span class=\"ps10837\">(87)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10840 ss784\"><div><div class=\"ps4584 ss317\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:53.46pt\"></span></span><span class=\"ps10839\">191</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps5677 ss779\"><div><div class=\"ps4584 ss701\"><span class=\"f charStyle-1bac868e ps633\">P-Class Facility\u00b9<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10841 ss780\"><div><div class=\"ps4584 ss432\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3797\">3 months EURIBOR + </span><span class=\"f charStyle-36184c7f ps10809\">1.6%</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10842 ss481\"><div><div class=\"ps4584 ss337\"><span class=\"f charStyle-e5ec5c44 ps10813\">2037<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10843 ss781\"><div><div class=\"ps4584 ss773\"><span class=\"f charStyle-e5ec5c44 ps10815\">Yes - refer to page 203<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10844 ss782\"><div><div class=\"ps4584 ss775\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:52.17pt\"></span></span><span class=\"ps10817\">421</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10845 ss783\"><div><div class=\"ps4584 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.85pt\"></span></span><span class=\"ps9567\">(35)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10847 ss784\"><div><div class=\"ps4584 ss317\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:59.97pt\"></span></span><span class=\"ps10846\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10848 ss785\"><div><div class=\"ps4584 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps10822\"></span><span class=\"ps10822\">3.0</span><span class=\"ps5307\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10849 ss785\"><div><div class=\"ps4584 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.87pt\"></span></span><span class=\"ps7269\">105.1</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps10850 ss779\"><div><div class=\"ps4584 ss701\"><span class=\"f charStyle-1bac868e ps633\">A-Class Facility I &amp; II<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10851 ss780\"><div><div class=\"ps4584 ss432\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3797\">3 months EURIBOR + </span><span class=\"f charStyle-36184c7f ps10809\">1.6%</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10852 ss481\"><div><div class=\"ps4584 ss337\"><span class=\"f charStyle-e5ec5c44 ps10813\">2037<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10853 ss781\"><div><div class=\"ps4584 ss773\"><span class=\"f charStyle-e5ec5c44 ps10815\">Yes - refer to page 203<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10854 ss782\"><div><div class=\"ps4584 ss775\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:52.17pt\"></span></span><span class=\"ps10817\">262</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10856 ss783\"><div><div class=\"ps4584 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.7pt\"></span></span><span class=\"ps10855\">(5)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10857 ss784\"><div><div class=\"ps4584 ss317\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:54.42pt\"></span></span><span class=\"ps10820\">263</span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps2098 ss779\"><div><div class=\"ps4584 ss701\"><span class=\"f charStyle-1bac868e ps633\">Wind Keeper Facility<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10858 ss780\"><div><div class=\"ps4584 ss432\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3797\">3 months EURIBOR + </span><span class=\"f charStyle-36184c7f ps10809\">2.1%</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10859 ss481\"><div><div class=\"ps4584 ss337\"><span class=\"f charStyle-e5ec5c44 ps10813\">2030<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10860 ss781\"><div><div class=\"ps4584 ss773\"><span class=\"f charStyle-e5ec5c44 ps10815\">Yes - refer to page 203<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10861 ss782\"><div><div class=\"ps4584 ss775\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:52.17pt\"></span></span><span class=\"ps10817\">125</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10862 ss783\"><div><div class=\"ps4584 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10863 ss784\"><div><div class=\"ps4584 ss317\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:59.97pt\"></span></span><span class=\"ps10846\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10864 ss779\"><div><div class=\"ps4584 ss701\"><span class=\"f charStyle-1bac868e ps633\">M-Class Facility I &amp; II<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10865 ss780\"><div><div class=\"ps4584 ss432\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3797\">3 months EURIBOR + </span><span class=\"f charStyle-36184c7f ps10809\">2.5%</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10866 ss481\"><div><div class=\"ps4584 ss337\"><span class=\"f charStyle-e5ec5c44 ps10813\">2037<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10867 ss781\"><div><div class=\"ps4584 ss773\"><span class=\"f charStyle-e5ec5c44 ps10815\">Yes - refer to page 203<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10868 ss782\"><div><div class=\"ps4584 ss775\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:52.17pt\"></span></span><span class=\"ps10817\">420</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10869 ss783\"><div><div class=\"ps4584 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.85pt\"></span></span><span class=\"ps9567\">(13)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10870 ss784\"><div><div class=\"ps4584 ss317\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:59.97pt\"></span></span><span class=\"ps10846\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10871 ss785\"><div><div class=\"ps4584 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\"></span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps6005 ss779\"><div><div class=\"ps4584 ss701\"><span class=\"f charStyle-b07b4361 ps42\">Unsecured<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps10872 ss779\"><div><div class=\"ps4584 ss701\"><span class=\"f charStyle-1bac868e ps633\">HoldCo Facility<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10873 ss780\"><div><div class=\"ps4584 ss432\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3797\">3 months EURIBOR + </span><span class=\"f charStyle-36184c7f ps10809\">4%</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10874 ss481\"><div><div class=\"ps4584 ss337\"><span class=\"f charStyle-e5ec5c44 ps10813\">2028<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10875 ss781\"><div><div class=\"ps4584 ss773\"><span class=\"f charStyle-1bac868e ps42\">Yes - refer to page 203<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10876 ss782\"><div><div class=\"ps4584 ss775\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:52.17pt\"></span></span><span class=\"ps10817\">125</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10877 ss783\"><div><div class=\"ps4584 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10878 ss784\"><div><div class=\"ps4584 ss317\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:59.97pt\"></span></span><span class=\"ps10846\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps5746 ss779\"><div><div class=\"ps4584 ss701\"><span class=\"f charStyle-1bac868e ps633\">HoldCo Facility II<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10879 ss780\"><div><div class=\"ps4584 ss432\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3797\">3 months EURIBOR + </span><span class=\"f charStyle-36184c7f ps10809\">4%</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10880 ss481\"><div><div class=\"ps4584 ss337\"><span class=\"f charStyle-e5ec5c44 ps10813\">2030<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10881 ss781\"><div><div class=\"ps4584 ss773\"><span class=\"f charStyle-1bac868e ps42\">Yes - refer to page 203<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10883 ss782\"><div><div class=\"ps4584 ss775\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:57.02pt\"></span></span><span class=\"ps10882\">60</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10884 ss783\"><div><div class=\"ps4584 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10885 ss784\"><div><div class=\"ps4584 ss317\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:59.97pt\"></span></span><span class=\"ps10846\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps10434 ss779\"><div><div class=\"ps4584 ss701\"><span class=\"f charStyle-1bac868e ps633\">Unsecured guarantee facility<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10886 ss781\"><div><div class=\"ps4584 ss773\"><span class=\"f charStyle-1bac868e ps42\">Yes - refer to page 203<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10887 ss782\"><div><div class=\"ps4584 ss775\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:57.02pt\"></span></span><span class=\"ps10882\">43</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10888 ss783\"><div><div class=\"ps4584 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10890 ss784\"><div><div class=\"ps4584 ss317\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:64.12pt\"></span></span><span class=\"ps10889\">7</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10891 ss785\"><div><div class=\"ps4584 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\"></span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10892 ss785\"><div><div class=\"ps4584 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\"></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"background-color:#206079;padding:0\"><div class=\"ps5338 ss779\"><div><div class=\"ps4584 ss701\"><span class=\"f charStyle-23b55a92 ps42\">Total (excluding Guarantee facility)<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"></td><td style=\"background-color:#206079;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10895 ss782\"><div><div class=\"ps4584 ss775\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.98pt\"></span></span><span class=\"ps10893\">1,696</span><span class=\"ps10894\">\u00b2</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10897 ss783\"><div><div class=\"ps4584 ss298\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.82pt\"></span></span><span class=\"ps10896\">(140)</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10898 ss784\"><div><div class=\"ps4584 ss317\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:53.46pt\"></span></span><span class=\"ps10839\">411</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"></td><td style=\"background-color:#206079;padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps10931 ss0\"><div class=\"ss791 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:770.25pt\"></td></tr><tr style=\"height:26.25pt\"><td style=\"padding:0\"><div class=\"ps40 ss792\"><div><div class=\"ps10920 ss791\" style=\"font-size:12pt\"><span class=\"f charStyle-f8d16a17 ps10902\"><sup>1 </sup></span><span class=\"f charStyle-df865089 ps10903\">For the P-class Facility, up to </span><span class=\"f charStyle-df865089 ps10904\">EUR</span><span class=\"f charStyle-df865089 ps10905\"> </span><span class=\"f charStyle-df865089 ps10906\">425</span><span class=\"f charStyle-df865089 ps10907\"> million, </span><span class=\"f charStyle-df865089 ps10908\">EUR</span><span class=\"f charStyle-df865089 ps10909\"> </span><span class=\"f charStyle-df865089 ps10910\">214</span><span class=\"f charStyle-df865089 ps10911\">million was available for Wind Peak of which </span><span class=\"f charStyle-df865089 ps10912\">EUR</span><span class=\"f charStyle-df865089 ps10913\"> </span><span class=\"f charStyle-df865089 ps10914\">421 million</span><span class=\"f charStyle-df865089 ps10915\"> has been utilised and the remaining </span><span class=\"f charStyle-df865089 ps10916\">EUR</span><span class=\"f charStyle-58d8bcbe ps10917\"> </span><span class=\"f charStyle-df865089 ps10918\">4</span><span class=\"f charStyle-df865089 ps10919\"> million lapsed. </span></div><div class=\"ps10930 ss791\" style=\"font-size:12pt\"><span class=\"f charStyle-f8d16a17 ps10902\"><sup>2</sup></span><span class=\"f charStyle-df865089 ps10921\"> The difference between </span><span class=\"f charStyle-df865089 ps10922\">EUR</span><span class=\"f charStyle-df865089 ps10923\"> </span><span class=\"f charStyle-df865089 ps10924\">1,696 million</span><span class=\"f charStyle-df865089 ps10925\"> and the carrying amount of </span><span class=\"f charStyle-df865089 ps10926\">EUR</span><span class=\"f charStyle-58d8bcbe ps10927\"> </span><span class=\"f charStyle-df865089 ps10928\">1,611 million</span><span class=\"f charStyle-df865089 ps10929\"> is mainly related to interest and fees.</span></div></div></div></td></tr></tbody></table></div></div></div></div><div class=\"ps10935 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Green Corporate Facility (formerly referred to as \u201cNew <span id=\"i4641db1b21454607875c215d46850a8c\"></span></span></div><div class=\"ps10936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">debt Facility\u201d)</span></div><div class=\"ps10937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In December 2023, Cadeler announced the signing of a EUR </span></div><div class=\"ps8924 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">550\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10938\"> Senior Secured Green Facilities, the \u201cGreen Corporate </span></div><div class=\"ps7335 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Facility\u201d, with a group of banks led by DNB and supported by </span></div><div class=\"ps6971 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Rabobank, Credit Agricole, Danske Bank, Oversea-Chinese Banking </span></div><div class=\"ps7347 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Corporation (\u201cOCBC\u201d), Standard Chartered Bank and Soci\u00e9t\u00e9 </span></div><div class=\"ps9336 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">G\u00e9n\u00e9rale.</span></div><div class=\"ps6974 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The main objective of the Green Corporate Facility is to refinance </span></div><div class=\"ps9339 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">and fund upgrades to existing vessels, as well as to provide funding </span></div><div class=\"ps9340 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">for general corporate and working capital purposes.</span></div><div class=\"ps8936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Green Corporate Facility comprises two RCFs amounting to EUR </span></div><div class=\"ps8937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">350\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10938\">, a EUR </span><span class=\"f charStyle-c1b8f9f6 ps10939\">100\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10940\"> term loan guaranteed by The Danish </span></div><div class=\"ps9343 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Export and Investment Fund of Denmark (EIFO) and a EUR </span></div><div class=\"ps10941 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">200\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10938\"> uncommitted Guarantee facility.</span></div><div class=\"ps10942 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Holdco Facility<span id=\"idc8116543ec04d0085a457bedbf8be4f\"></span></span></div><div class=\"ps8939 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In November 2023, Cadeler entered into a bilateral unsecured </span></div><div class=\"ps10945 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Green Loan Facility with HSBC of EUR </span><span class=\"f charStyle-c1b8f9f6 ps10943\">80\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10944\">, which was upsized </span></div><div class=\"ps10948 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">to EUR </span><span class=\"f charStyle-c1b8f9f6 ps10946\">125\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10947\"> during 2024. The main purpose of the facility has </span></div><div class=\"ps3200 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">been to pre-finance the construction of the P-class and A-class </span></div><div class=\"ps10949 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">newbuild vessels in addition to the upgrade of the existing O-class </span></div><div class=\"ps9374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">vessels.</span></div><div class=\"ps10950 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In November 2025, Cadeler entered into a second unsecured Green </span></div><div class=\"ps10954 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Loan Facility with HSBC and C</span><span class=\"f charStyle-c1b8f9f6 ps10951\">lifford Capital of EUR </span><span class=\"f charStyle-c1b8f9f6 ps10952\">60\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10953\"> with a </span></div><div class=\"ps10957 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">non-committed accordion option of up to EUR </span><span class=\"f charStyle-c1b8f9f6 ps10955\">80\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10956\">.</span></div><div class=\"ps10958 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">As of 31 December 2025, both unsecured facilities are fully utilised.</span></div><div class=\"ps10934 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-80a97fbb ps227\">Project Financing<span id=\"if56c08fedad24245974e647b20856c71\"></span></span></div><div class=\"ps10935 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps227\">P-class Facility<span id=\"if516b9384d2744eba9fb89344e3d0373\"></span></span></div><div class=\"ps3105 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">In December 2023, Cadeler announced the signing of a Sinosure-</span></div><div class=\"ps3106 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">backed Senior Secured Green Term Loan Facility of up to </span></div><div class=\"ps3107 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">EUR425\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10959\">. The purpose of the P-class Facility is to finance </span></div><div class=\"ps3108 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">Cadeler\u2019s </span><span class=\"f charStyle-c1b8f9f6 ps10960\">two</span><span class=\"f charStyle-c1b8f9f6 ps10961\"> newbuild vessels, Wind Peak and Wind Pace, which </span></div><div class=\"ps3109 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">were delivered on August 2024 and March 2025, respectively.</span></div><div class=\"ps10962 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps227\">M-class Facility I &amp; II<span id=\"i62f7e5a2ba7d497faf900a30229af0df\"></span></span></div><div class=\"ps6973 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">In August 2024, Cadeler successfully refinanced the USD </span><span class=\"f charStyle-c1b8f9f6 ps10963\">436\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10964\"> </span></div><div class=\"ps6974 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">Senior Secured Green Term Loan Facility (M-class Facility) to </span><span class=\"f charStyle-c1b8f9f6 ps10965\">two</span><span class=\"f charStyle-c1b8f9f6 ps10966\"> </span></div><div class=\"ps9339 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">individual M-class facilities (M-class Facility I and M-class Facility II). </span></div><div class=\"ps9340 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">Both facilities are backed by Danmarks Eksport og Investeringsfond </span></div><div class=\"ps9341 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">(EIFO) and Export Finance Norway (Eksfin), and provide an </span></div><div class=\"ps9333 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">aggregate of up to </span><span class=\"f charStyle-c1b8f9f6 ps10967\">EUR420\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10968\"> in post-delivery financing. The </span></div><div class=\"ps9334 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">two</span><span class=\"f charStyle-c1b8f9f6 ps10969\"> newbuild vessels, Wind Maker and Wind Mover, were delivered </span></div><div class=\"ps10970 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">on January 2025 and November 2025, respectively.</span></div><div class=\"ps10971 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps227\">A-class Facility <span id=\"ia625b8cce4d34ba99b793a6c7821118d\"></span></span></div><div class=\"ps10974 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">In March 2025, Cadeler entered into a EUR </span><span class=\"f charStyle-c1b8f9f6 ps10972\">525</span><span class=\"f charStyle-c1b8f9f6 ps10973\">m Green Term Loan </span></div><div class=\"ps3420 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">Pre-Delivery and Post-Delivery Facility secured by Sinosure and </span></div><div class=\"ps3421 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">Eksfin. The purpose of the facility is to finance Cadeler\u2019s </span><span class=\"f charStyle-c1b8f9f6 ps10975\">two</span><span class=\"f charStyle-c1b8f9f6 ps10976\"> </span></div><div class=\"ps3422 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">newbuild vessels, Wind Ally and Wind Ace. Wind Ally has been </span></div><div class=\"ps3423 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">successful delivered ahead of schedule in September 2025 and </span></div><div class=\"ps3424 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">Wind Ace is expected to be delivered in Q1 2026.</span></div><div class=\"ps10977 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps227\">Keeper Facility<span id=\"id6d845dd45ba4bc28b6208ff6637defb\"></span></span></div><div class=\"ps2387 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">In May 2025, Cadeler entered into a bridge facility of up to EUR </span></div><div class=\"ps2388 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">150\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10978\"> for the acquisition of Wind Keeper. This facility was </span></div><div class=\"ps10981 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">subsequently refinanced by a EUR </span><span class=\"f charStyle-c1b8f9f6 ps10979\">125\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10980\"> Green Term Loan, </span></div><div class=\"ps10982 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">which was fully drawn in October 2025.</span></div><div class=\"ps10983 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Covenants<span id=\"i39fb197c8cdb45309962aab6c128e6be\"></span></span></div><div class=\"ps10985 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group debt </span><span class=\"f charStyle-c1b8f9f6 ps10984\">facilities include the following covenants:</span></div><div class=\"ps10987 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">All debt facilities</span></div><div class=\"ps10988 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1760\">\u2022<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1761\">Minimum Free Liquidity: Freely available cash and cash </span></div><div class=\"ps10996 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">equivalents of i) the higher of</span><span class=\"f charStyle-c1b8f9f6 ps10989\"> </span><span class=\"f charStyle-c1b8f9f6 ps10990\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10991\"> </span><span class=\"f charStyle-c1b8f9f6 ps10992\">35</span><span class=\"f charStyle-c1b8f9f6 ps10993\"> million or </span><span class=\"f charStyle-c1b8f9f6 ps10994\">5%</span><span class=\"f charStyle-c1b8f9f6 ps10995\"> of gross </span></div><div class=\"ps10997 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">interest-bearing debt, where the ratio of forward-looking </span></div><div class=\"ps11000 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">contract cash flow to net interest-bearing debt exceeds </span><span class=\"f charStyle-c1b8f9f6 ps10998\">50%</span><span class=\"f charStyle-c1b8f9f6 ps10999\"> </span></div><div class=\"ps11006 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">or ii) </span><span class=\"f charStyle-c1b8f9f6 ps11001\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps11002\"> </span><span class=\"f charStyle-c1b8f9f6 ps11003\">50</span><span class=\"f charStyle-c1b8f9f6 ps3654\"> million or an amount equal to </span><span class=\"f charStyle-c1b8f9f6 ps11004\">7.5%</span><span class=\"f charStyle-c1b8f9f6 ps11005\"> of gross </span></div><div class=\"ps11007 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">interest-bearing debt at all other times.</span></div><div class=\"ps11009 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1760\">\u2022<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1761\">Equity Ratio: The ratio of b</span><span class=\"f charStyle-c1b8f9f6 ps11008\">ook equity to total assets must at </span></div><div class=\"ps11012 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">all times be a minimum </span><span class=\"f charStyle-c1b8f9f6 ps11010\">35%</span><span class=\"f charStyle-c1b8f9f6 ps11011\">.</span></div><div class=\"ps11013 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1760\">\u2022<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1761\">Working capital: The working capital shall be higher than </span></div><div class=\"ps11016 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">zero (</span><span class=\"f charStyle-c1b8f9f6 ps11014\">0</span><span class=\"f charStyle-c1b8f9f6 ps11015\">).</span></div><div class=\"ps11017 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1760\">\u2022<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1761\">Minimum security value (loan-to-value for individual debt </span></div><div class=\"ps11018 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">facilities).</span></div><div class=\"ps11020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\"> Additional items included in Green Corporate Facility</span></div><div class=\"ps11021 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2377\">\u2022<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps2378\">If, in any reported quarter, the aggregated loan balance </span></div><div class=\"ps11024 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2378\">exceeds </span><span class=\"f charStyle-c1b8f9f6 ps11022\">80%</span><span class=\"f charStyle-c1b8f9f6 ps11023\"> of the forward-looking expected cash </span></div><div class=\"ps11025 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2378\">revenues from legally binding contracts (the Contracted </span></div><div class=\"ps11026 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2378\">Cash Flows), the Borrower shall prepay the excess amount </span></div><div class=\"ps11027 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2378\">of the loans within five business days.</span></div><div class=\"ps11028 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">Additional items included in Holdco Facility </span></div><div class=\"ps11029 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2377\">\u2022<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps2378\">The Group is subject to a debt service coverage ratio where </span></div><div class=\"ps11030 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2378\">cash flow available for debt service (including available </span></div><div class=\"ps11031 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2378\">liquidity comprising cash, cash equivalents and undrawn </span></div><div class=\"ps11032 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2378\">Green Corporate Facility) at the Parent Company must be at </span></div><div class=\"ps11033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2378\">leaast two times the debt service cash flow relating to the </span></div><div class=\"ps11034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2378\">Holdco Facility (2:1). </span></div><div class=\"ps11036 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">Additional items included in M-Class Facility I &amp; II </span></div><div class=\"ps11037 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2377\">\u2022<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps2378\">The Group is required to maintain a specified number of </span></div><div class=\"ps11038 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2378\">employees in Denmark.</span></div><div class=\"ps11020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">All covenants are tested semi-annually, at 30 June and 31 December. </span></div><div class=\"ps11021 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">The Group is in compliance with all covenants. </span></div><div class=\"ps11041 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">As of the reporting date, M-class Facilities I and II remain unutilised. </span></div><div class=\"ps11042 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Due to the non-utilisation of these facilities, no assessment of </span></div><div class=\"ps11043 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">compliance with associated covenants has been required to date. </span></div><div class=\"ps11044 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">These covenants, once applicable, will require assessment upon </span></div><div class=\"ps11045 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">utilisation of the facilities and include customary financial and other </span></div><div class=\"ps11046 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">covenants, including certain change of control provisions, similar to </span></div><div class=\"ps11047 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">those disclosed for the utilised facilities. </span></div><div class=\"ps11048 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">In addition, the Group is in compliance with the following </span></div><div class=\"ps4879 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">requirements:</span></div><div class=\"ps11049 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Restriction on dividends: The Company is not permitted to pay any </span></div><div class=\"ps11050 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">dividends or other distributions without lender\u2019s written consent. </span></div><div class=\"ps11051 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Across the Group\u2019s Debt Facilities, dividends and distributions must </span></div><div class=\"ps11054 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">not exceed </span><span class=\"f charStyle-c1b8f9f6 ps11052\">50%</span><span class=\"f charStyle-c1b8f9f6 ps11053\"> of the consolidated net profit for the respective year </span></div><div class=\"ps11055 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">and the net interest bearing debt to EBITDA ratio should not be lower </span></div><div class=\"ps11058 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">than </span><span class=\"f charStyle-c1b8f9f6 ps11056\">2.75</span><span class=\"f charStyle-c1b8f9f6 ps11057\">:1. Furthermore, under the Holdco Facility, the Company is </span></div><div class=\"ps11059 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">not permitted to make any distributions prior to the delivery of the P-</span></div><div class=\"ps11060 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Class, the first two A-Class and M-Class vessels. </span></div><div class=\"ps11061 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Change of control: If any person or group of persons (other than </span></div><div class=\"ps11062 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Swire Pacific, Scorpio Group or the BW Group) acting in concert </span></div><div class=\"ps11063 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">directly or indirectly gains control of 25% or more of the voting and/</span></div><div class=\"ps11064 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">or ordinary shares of the Borrower, the Agent (acting on the </span></div><div class=\"ps11067 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">instructions of the majority lenders) may, by written notice of </span><span class=\"f charStyle-c1b8f9f6 ps11065\">60</span><span class=\"f charStyle-c1b8f9f6 ps11066\"> days </span></div><div class=\"ps11068 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">cancel the total commitments and demand prepayment of all </span></div><div class=\"ps11069 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">amounts outstanding under the facilities.</span></div><div><div id=\"i60a9312555114c61b3ebee7078e135c5_2278\" style=\"position:absolute;top:42.52pt\"></div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 28</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Commitments and Pledges<span id=\"i9559c362fa7445d2813ba504bfe1d578\"></span></span></div><div class=\"ps7781 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Lease commitments<span id=\"ic1943004030a4b58bd199d4476407e94\"></span></span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The future minimum lease payables under non-cancellable low value and short-term leases contracted for </span></div><div class=\"ps7146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">at the balance sheet date but not recognised as liabilities are as follows:</span></div><div class=\"ps11184 ss0\"><div class=\"ss177 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:147pt\"></td><td style=\"padding:0;width:90pt\"></td><td style=\"padding:0;width:90pt\"></td><td style=\"padding:0;width:90pt\"></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss805\"><div><div class=\"ps7199 ss671\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8874 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-281247bf ps11171\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7200 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-054ead99 ps11171\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10630 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-054ead99 ps11171\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2567 ss805\"><div><div class=\"ps2564 ss671\"><span class=\"f charStyle-1bac868e ps633\">Not later than one year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11173 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:54.77pt\"></span></span><span class=\"ps11172\">16,483</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11174 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:66.42pt\"></span></span><span class=\"ps7964\">117</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11176 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:59.62pt\"></span></span><span class=\"ps11175\">1,090</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps1984 ss805\"><div><div class=\"ps2564 ss671\"><span class=\"f charStyle-1bac868e ps633\">Between one and five years<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11177 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:66.42pt\"></span></span><span class=\"ps7964\">229</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7203 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:66.42pt\"></span></span><span class=\"ps7964\">219</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11178 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:59.62pt\"></span></span><span class=\"ps11175\">4,984</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11180 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:52.69pt\"></span></span><span class=\"ps11179\">16,712</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7206 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:65.46pt\"></span></span><span class=\"ps11181\">336</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11183 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:57.86pt\"></span></span><span class=\"ps11182\">6,074</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps1004 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">As of 31 December 2025, the Company\u2019s lease commitments included the lease of third-party vessels </span></div><div class=\"ps3567 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">related to T&amp;I activities.</span></div><div class=\"ps3569 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">As of 31 December 2023, the Company\u2019s lease commitments included the tenure of the new headquarters. </span></div><div class=\"ps3570 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">These commitments were reflected on the balance sheet starting in Q1 2024 as 'Right-of-Use Assets' and </span></div><div class=\"ps3563 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">'Lease Liabilities' in accordance with IFRS 16. </span></div><div class=\"ps7168 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The Group has issued performance and payment guarantees through its banking partners in favour of </span></div><div class=\"ps7169 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">customers and suppliers in connection with offshore wind installation projects. At 31 December 2025, </span></div><div class=\"ps7171 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">outstanding guarantees totalled EUR </span><span class=\"f charStyle-c1b8f9f6 ps11186\">150\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps11187\">. The guarantees relate to the Group\u2019s contractual </span></div><div class=\"ps7172 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">performance and payment obligations. No provision has been recognised, as management assesses that an </span></div><div class=\"ps7173 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">outflow of resources is not probable. The Group would be required to reimburse the issuing bank should </span></div><div class=\"ps7174 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">any guarantee be called.</span></div><div class=\"ps11188 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Pledge of Fixed Assets<span id=\"i11e388798bec455fa903297668fa64c6\"></span></span></div><div class=\"ps6923 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The Green Corporate Facility detailed in </span><span class=\"f charStyle-c1b8f9f6 ps11189\">Note 25</span><span class=\"f charStyle-c1b8f9f6 ps11190\"> is secured by, inter alia, a first priority mortgage over the </span></div><div class=\"ps6926 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Wind Orca, Wind Osprey, Wind Scylla and Wind Zaratan Vessels (</span><span class=\"f charStyle-c1b8f9f6 ps11191\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps11192\"> </span><span class=\"f charStyle-c1b8f9f6 ps11193\">603</span><span class=\"f charStyle-c1b8f9f6 ps11194\"> million</span><span class=\"f charStyle-c1b8f9f6 ps11195\"> carrying amount, see </span><span class=\"f charStyle-c1b8f9f6 ps11196\">Note </span></div><div class=\"ps2785 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">13</span><span class=\"f charStyle-c1b8f9f6 ps11197\">). In addition, the facility is secured by a first priority assignment of the earnings of the vessel-owning </span></div><div class=\"ps2786 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">entities, including certain change of control provisions which are similar to those included in the P-class </span></div><div class=\"ps2787 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Facility.</span></div><div class=\"ps7159 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The P-class Facility, detailed in </span><span class=\"f charStyle-c1b8f9f6 ps11198\">Note 25,</span><span class=\"f charStyle-c1b8f9f6 ps11199\"> is secured by a first priority mortgage over the P-class newbuild </span></div><div class=\"ps7160 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">vessels, first priority assignments of the insurances and earnings of the P-class newbuilds by Cadeler and the </span></div><div class=\"ps7162 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">two</span><span class=\"f charStyle-c1b8f9f6 ps11200\"> borrowers and contain customary financial and other covenants, including certain change of control </span></div><div class=\"ps2791 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">provisions. A change of control under the P-class Facility if any person or group of persons acting in concert </span></div><div class=\"ps2792 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">(other than Swire Pacific and the BW Group) legally and beneficially holds more than </span><span class=\"f charStyle-c1b8f9f6 ps11201\">25%</span><span class=\"f charStyle-c1b8f9f6 ps11202\"> of both the issued </span></div><div class=\"ps2793 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">and outstanding share capital and/or the issued and outstanding voting share capital of Cadeler A/S. In </span></div><div class=\"ps2794 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">addition, certain changes to the ownership structure further down in the Group will also trigger a change of </span></div><div class=\"ps2795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">control, including, among others, circumstances in which Wind Pace Ltd (formerly referred as to N1064 Ltd) </span></div><div class=\"ps2796 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">or Wind Peak Ltd (formerly referred as to N1063 Ltd) ceases to be a wholly owned (direct or indirect) </span></div><div class=\"ps2797 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">subsidiary of Cadeler.</span></div></div><div class=\"ps6992 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Commitments on newbuilds vessels:<span id=\"i6dd288598457476eb437b2d3725905c4\"></span></span></div><div class=\"ps11243 ss0\"><div class=\"ss809 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:192pt\"></td><td style=\"padding:0;width:60pt\"></td><td style=\"padding:0;width:60pt\"></td><td style=\"padding:0;width:60pt\"></td><td style=\"padding:0;width:60pt\"></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps40 ss807\"><div><div class=\"ps4278 ss557\"><span class=\"f charStyle-b07b4361 ps42\">As of 31 December 2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps4283 ss808\"><div><div class=\"ps7199 ss557\"><span class=\"f charStyle-64a4cf84 ps42\">Millions<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11208 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-054ead99 ps11207\">P-Class<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11210 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-054ead99 ps11209\">M-Class<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11212 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-054ead99 ps11211\">A-Class<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11214 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-281247bf ps11213\">Total<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11114 ss808\"><div><div class=\"ps2564 ss557\"><span class=\"f charStyle-1bac868e ps633\">Contract amount in EUR<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11216 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">220</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11217 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10579\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11218 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">299</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11219 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">519</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7526 ss808\"><div><div class=\"ps2564 ss557\"><span class=\"f charStyle-1bac868e ps633\">Contract amount in USD<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11220 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">390</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11221 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">655</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11222 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">794</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11223 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10565\">1,839</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5953 ss808\"><div><div class=\"ps2564 ss557\"><span class=\"f charStyle-2b5af115 ps42\">Total Contract amount translated to EUR<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11224 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">573</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11225 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">600</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11226 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">981</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11227 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10565\">2,154</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"padding:0\"><div class=\"ps11228 ss808\"><div><div class=\"ps2564 ss557\"><span class=\"f charStyle-1bac868e ps633\">Commitment amount in EUR<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11229 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10579\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11230 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10579\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11232 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.27pt\"></span></span><span class=\"ps11231\">40</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps11233 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.27pt\"></span></span><span class=\"ps11231\">40</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11234 ss808\"><div><div class=\"ps2564 ss557\"><span class=\"f charStyle-1bac868e ps633\">Commitment amount in USD<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11235 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10579\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11236 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10579\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11237 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">496</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11238 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">496</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9008 ss808\"><div><div class=\"ps2564 ss557\"><span class=\"f charStyle-2b5af115 ps42\">Remaining commitment translated to EUR<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11239 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10579\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11240 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10579\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11241 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">462</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11242 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">462</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps11245 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Maturity of total payments are disclosed in </span><span class=\"f charStyle-c1b8f9f6 ps11244\">Note 23.</span></div><div class=\"ps11246 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">P-Class vessels <span id=\"i39739276062348009b57f75bf4f64d90\"></span></span></div><div class=\"ps11249 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Since 30 June 2021, the Company had a contract with COSCO to build </span><span class=\"f charStyle-c1b8f9f6 ps11247\">two</span><span class=\"f charStyle-c1b8f9f6 ps11248\"> new P-class WTIVs. On 14 August </span></div><div class=\"ps11251 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">2024, Wind Peak was delivered and the final instalments were paid upon delivery. </span><span class=\"f charStyle-c1b8f9f6 ps11250\">On 26 March 2025, Wind </span></div><div class=\"ps11252 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Pace was delivered with the final instalments also paid upon delivery.</span></div><div class=\"ps6992 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">A-class vessels<span id=\"i54bb13ecdc2d4428ae4897f8f64166da\"></span></span></div><div class=\"ps11257 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">On 9 May 2022 and 22 November 2022, the Company entered into contracts with COSCO to build a total of </span></div><div class=\"ps11258 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">two</span><span class=\"f charStyle-c1b8f9f6 ps11200\"> new A-class FIVs. In May 2024, the Company entered into an additional contract with COSCO to build </span></div><div class=\"ps11259 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">the third A-class FIV. On 29 September 2025, Wind Ally was delivered, with the final instalments paid upon </span></div><div class=\"ps11260 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">delivery.</span></div><div class=\"ps8867 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The total contract value for the </span><span class=\"f charStyle-c1b8f9f6 ps11261\">three</span><span class=\"f charStyle-c1b8f9f6 ps11262\"> vessels are approximately </span><span class=\"f charStyle-c1b8f9f6 ps11263\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps11264\"> </span><span class=\"f charStyle-c1b8f9f6 ps11265\">1\u00a0billion</span><span class=\"f charStyle-c1b8f9f6 ps11266\">, of which approximately </span><span class=\"f charStyle-c1b8f9f6 ps11267\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps6903\"> </span></div><div class=\"ps11279 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">167\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps11268\"> was paid in 2022, </span><span class=\"f charStyle-c1b8f9f6 ps11269\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps11270\"> </span><span class=\"f charStyle-c1b8f9f6 ps11271\">94\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps11272\"> was paid in 2024 and </span><span class=\"f charStyle-c1b8f9f6 ps11273\">EUR</span><span class=\"f charStyle-58d8bcbe ps11274\"> </span><span class=\"f charStyle-c1b8f9f6 ps11275\">257\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps11276\"> was paid in </span><span class=\"f charStyle-c1b8f9f6 ps11277\">2025</span><span class=\"f charStyle-c1b8f9f6 ps11278\">. The </span></div><div class=\"ps11280 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">remaining amounts are due in 2026 and 2027 with expected deliveries in Q3 2026 and Q2 2027, </span></div><div class=\"ps11281 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">respectively.</span></div><div class=\"ps11288 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Of the total contract value, USD </span><span class=\"f charStyle-c1b8f9f6 ps11282\">794 million</span><span class=\"f charStyle-c1b8f9f6 ps11283\"> is payable or has been paid in USD and </span><span class=\"f charStyle-c1b8f9f6 ps11284\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps11285\"> </span><span class=\"f charStyle-c1b8f9f6 ps11286\">299 million</span><span class=\"f charStyle-c1b8f9f6 ps11287\"> is </span></div><div class=\"ps11291 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">payable or has been paid in </span><span class=\"f charStyle-c1b8f9f6 ps11289\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps11290\">. </span></div><div class=\"ps11292 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">M-Class vessels<span id=\"i68e4397ac40244a994a178878999535a\"></span></span></div><div class=\"ps11293 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">As a result of the business combination with Eneti, the Company had a contract with Hanwha for the </span></div><div class=\"ps11296 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">construction of </span><span class=\"f charStyle-c1b8f9f6 ps11294\">two</span><span class=\"f charStyle-c1b8f9f6 ps11295\"> next-generation offshore WTIVs. </span></div><div class=\"ps11298 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">On 31 January 2025, Wind Maker was delivered and the final instalments were paid upon delivery. </span><span class=\"f charStyle-c1b8f9f6 ps11297\">On 28 </span></div><div class=\"ps11299 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">November 2025, Wind Mover was delivered with the final instalments also paid upon delivery.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDebtSecuritiesExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-544": {
   "value": "<div class=\"ps6908 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Accounting policies<span id=\"i87a40683dcc746a6b776ffeef0cb9094\"></span></span></div><div class=\"ps6910 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Finance income and expenses comprise interest income and expenses, as well as realised and unrealised </span></div><div class=\"ps6912 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">exchange rate gains and losses on transactions denominated in foreign currencies, together with fair value </span></div><div class=\"ps2779 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">adjustments related to the ineffective portion of financial instruments.</span></div><div class=\"ps7564 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Interest income and interest expenses are recognised using the effective interest rate. The effective interest </span></div><div class=\"ps7565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">rate is the discount rate used to discount expected future cash payments or receipts over the expected life </span></div><div class=\"ps6922 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">of a financial asset or financial liability to the amortised cost (carrying amount) of such asset or liability.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-543": {
   "value": "<div class=\"ps6908 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Accounting policies<span id=\"i87a40683dcc746a6b776ffeef0cb9094\"></span></span></div><div class=\"ps6910 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Finance income and expenses comprise interest income and expenses, as well as realised and unrealised </span></div><div class=\"ps6912 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">exchange rate gains and losses on transactions denominated in foreign currencies, together with fair value </span></div><div class=\"ps2779 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">adjustments related to the ineffective portion of financial instruments.</span></div><div class=\"ps7564 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Interest income and interest expenses are recognised using the effective interest rate. The effective interest </span></div><div class=\"ps7565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">rate is the discount rate used to discount expected future cash payments or receipts over the expected life </span></div><div class=\"ps6922 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">of a financial asset or financial liability to the amortised cost (carrying amount) of such asset or liability.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForInterestIncomeAndExpenseExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-545": {
   "value": "<div><div id=\"i60a9312555114c61b3ebee7078e135c5_2458\" style=\"position:absolute;top:42.52pt\"></div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 10</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Income Taxes<span id=\"iba8f20d7abd3475890689ddbd078cf43\"></span></span></div><div class=\"ps7670 ss0\"><div class=\"ss239 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:242.25pt\"></td><td style=\"padding:0;width:57.75pt\"></td><td style=\"padding:0;width:57.75pt\"></td><td style=\"padding:0;width:57.75pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss658\"><div><div class=\"ps750 ss657\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8576 ss491\"><div><div class=\"ps44 ss489\"><span class=\"f charStyle-281247bf ps8575\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2565 ss491\"><div><div class=\"ps44 ss489\"><span class=\"f charStyle-054ead99 ps8575\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6040 ss491\"><div><div class=\"ps44 ss489\"><span class=\"f charStyle-054ead99 ps8575\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps46 ss659\"><div><div class=\"ps4431 ss657\"><span class=\"f charStyle-b07b4361 ps42\">Income tax expense<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps634 ss659\"><div><div class=\"ps4431 ss657\"><span class=\"f charStyle-b07b4361 ps42\">Tax expense attributable to profit is made up of:<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5266 ss659\"><div><div class=\"ps4431 ss657\"><span class=\"f charStyle-1bac868e ps633\">Current tax<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8578 ss660\"><div><div class=\"ps4431 ss489\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.95pt\"></span></span><span class=\"ps8577\">(6,396)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8579 ss660\"><div><div class=\"ps4431 ss489\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.95pt\"></span></span><span class=\"ps8577\">(1,271)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7686 ss660\"><div><div class=\"ps4431 ss489\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.72pt\"></span></span><span class=\"ps8580\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2072 ss659\"><div><div class=\"ps4431 ss657\"><span class=\"f charStyle-1bac868e ps633\">Movement on deferred tax<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8581 ss660\"><div><div class=\"ps4431 ss489\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.95pt\"></span></span><span class=\"ps8577\">(1,284)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8582 ss660\"><div><div class=\"ps4431 ss489\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.95pt\"></span></span><span class=\"ps8577\">(1,137)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7689 ss660\"><div><div class=\"ps4431 ss489\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.72pt\"></span></span><span class=\"ps8580\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps770 ss659\"><div><div class=\"ps4431 ss657\"><span class=\"f charStyle-b07b4361 ps42\">Total Income tax expense<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8584 ss660\"><div><div class=\"ps4431 ss489\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.97pt\"></span></span><span class=\"ps8583\">(7,680)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8585 ss660\"><div><div class=\"ps4431 ss489\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.97pt\"></span></span><span class=\"ps8583\">(2,408)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7692 ss660\"><div><div class=\"ps4431 ss489\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.72pt\"></span></span><span class=\"ps8580\">\u2014</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps8586 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Tax expenses comprise the expected income tax charge for the year in accordance with IAS 12. </span></div><div class=\"ps8587 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The tax base of the Group\u2019s vessel assets are held by wholly owned subsidiaries located in Cyprus, UK and </span></div><div class=\"ps8588 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Japan. Besides Japan, vessel owning entities and their corresponding Fleet Manager entities operate within </span></div><div class=\"ps8589 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">tonnage tax regimes in Denmark, Cyprus and the United Kingdom, pursuant to which in-scope entities pay a </span></div><div class=\"ps8590 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">fixed amount per net ton at their disposal, rather than income being taxed under a conventional corporate </span></div><div class=\"ps8591 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">tax regime. Cyprus owned vessels participate in dual tonnage tax schemes, with Denmark as Danish Fleet </span></div><div class=\"ps4886 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Manager and Cyprus as Danish Fleet Owner. From 1st January 2025 UK vessel owning entities and the UK </span></div><div class=\"ps8592 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Fleet Manager entity participate in the UK tonnage tax scheme. </span></div><div class=\"ps8599 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The total recorded tonnage tax expense for </span><span class=\"f charStyle-c1b8f9f6 ps8593\">2025</span><span class=\"f charStyle-c1b8f9f6 ps8594\"> in Denmark, UK and Cyprus amount to </span><span class=\"f charStyle-c1b8f9f6 ps8595\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8596\"> </span><span class=\"f charStyle-c1b8f9f6 ps8597\">34</span><span class=\"f charStyle-c1b8f9f6 ps8598\"> thousand, </span></div><div class=\"ps8620 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">48</span><span class=\"f charStyle-c1b8f9f6 ps8600\"> thousand and</span><span class=\"f charStyle-c1b8f9f6 ps8601\"> </span><span class=\"f charStyle-c1b8f9f6 ps8602\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8603\"> </span><span class=\"f charStyle-c1b8f9f6 ps8604\">11\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8605\"> </span><span class=\"f charStyle-c1b8f9f6 ps8606\">respectively</span><span class=\"f charStyle-c1b8f9f6 ps8607\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8608\">2024</span><span class=\"f charStyle-c1b8f9f6 ps8609\"> and </span><span class=\"f charStyle-c1b8f9f6 ps8610\">2023</span><span class=\"f charStyle-c1b8f9f6 ps8611\">:</span><span class=\"f charStyle-c1b8f9f6 ps8612\"> </span><span class=\"f charStyle-c1b8f9f6 ps8613\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8614\"> </span><span class=\"f charStyle-c1b8f9f6 ps8615\">0\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8616\">, </span><span class=\"f charStyle-c1b8f9f6 ps8617\">EUR </span><span class=\"f charStyle-c1b8f9f6 ps8618\">0\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8619\"> and </span></div><div class=\"ps6991 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">5\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8621\"> </span><span class=\"f charStyle-c1b8f9f6 ps8622\">respectively)</span><span class=\"f charStyle-c1b8f9f6 ps8623\">.</span></div><div class=\"ps8624 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In addition, certain of Cadeler\u2019s subsidiaries are resident for taxation purposes in the United Kingdom or </span></div><div class=\"ps8625 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">other foreign jurisdictions that are outside the scope of the tonnage tax ring-fence. These entities are </span></div><div class=\"ps8626 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">subject to their local corporation tax regimes based on their taxable income. </span></div><div class=\"ps8627 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group routinely evaluates its exposure to local income taxes (Permanent Establishments) relating to its </span></div><div class=\"ps8628 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">foreign operations which can also result in additional current foreign taxes.</span></div><div class=\"ps7168 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The Group continues to assess the potential impact of the Pillar Two rules on future reporting periods. Refer </span></div><div class=\"ps7169 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">to </span><span class=\"f charStyle-c1b8f9f6 ps8629\">Note 2</span><span class=\"f charStyle-c1b8f9f6 ps8630\"> for further details.</span></div><div class=\"ps8663 ss0\"><div class=\"ss239 ws0 ps1056\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:242.25pt\"></td><td style=\"padding:0;width:57.75pt\"></td><td style=\"padding:0;width:57.75pt\"></td><td style=\"padding:0;width:57.75pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss658\"><div><div class=\"ps750 ss657\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8576 ss491\"><div><div class=\"ps44 ss489\"><span class=\"f charStyle-281247bf ps8575\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2565 ss491\"><div><div class=\"ps44 ss489\"><span class=\"f charStyle-054ead99 ps8575\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6040 ss491\"><div><div class=\"ps44 ss489\"><span class=\"f charStyle-054ead99 ps8575\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps46 ss659\"><div><div class=\"ps4431 ss657\"><span class=\"f charStyle-b07b4361 ps42\">Effective tax rate<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps634 ss659\"><div><div class=\"ps4431 ss657\"><span class=\"f charStyle-1bac868e ps633\">Profit before income tax<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8632 ss660\"><div><div class=\"ps4431 ss489\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:17.67pt\"></span></span><span class=\"ps8631\">287,864</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8634 ss660\"><div><div class=\"ps4431 ss489\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.52pt\"></span></span><span class=\"ps8633\">67,477</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7681 ss660\"><div><div class=\"ps4431 ss489\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.52pt\"></span></span><span class=\"ps8633\">11,498</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5266 ss659\"><div><div class=\"ps74 ss657\"><span class=\"f charStyle-1bac868e ps633\"> Tax at Corporate Tax rate (22%) <span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8578 ss660\"><div><div class=\"ps4431 ss489\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.52pt\"></span></span><span class=\"ps8633\">63,330</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8579 ss660\"><div><div class=\"ps4431 ss489\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.52pt\"></span></span><span class=\"ps8633\">14,845</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7686 ss660\"><div><div class=\"ps4431 ss489\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.37pt\"></span></span><span class=\"ps6511\">2,530</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2072 ss659\"><div><div class=\"ps4431 ss657\"><span class=\"f charStyle-b07b4361 ps42\">Effects of:<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps770 ss658\"><div><div class=\"ps44 ss657\"><span class=\"f charStyle-1bac868e ps633\"> Income not taxable/impact of tonnage tax regime <span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8584 ss491\"><div><div class=\"ps44 ss489\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:17.1pt\"></span></span><span class=\"ps8636\">(73,214)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8585 ss491\"><div><div class=\"ps44 ss489\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.95pt\"></span></span><span class=\"ps8577\">(9,606)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7692 ss491\"><div><div class=\"ps44 ss489\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.95pt\"></span></span><span class=\"ps8577\">(2,530)</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps2196 ss658\"><div><div class=\"ps44 ss657\"><span class=\"f charStyle-1bac868e ps633\"> Amounts not recognised <span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8637 ss491\"><div><div class=\"ps44 ss489\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.37pt\"></span></span><span class=\"ps6511\">9,055</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8638 ss491\"><div><div class=\"ps44 ss489\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.95pt\"></span></span><span class=\"ps8577\">(6,022)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8639 ss491\"><div><div class=\"ps44 ss489\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.72pt\"></span></span><span class=\"ps8580\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps2007 ss658\"><div><div class=\"ps44 ss657\"><span class=\"f charStyle-1bac868e ps633\"> Deferred tax on consolidation adjustments<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8640 ss491\"><div><div class=\"ps44 ss489\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.17pt\"></span></span><span class=\"ps6532\">577</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8641 ss491\"><div><div class=\"ps44 ss489\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.17pt\"></span></span><span class=\"ps6532\">721</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8642 ss491\"><div><div class=\"ps44 ss489\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.72pt\"></span></span><span class=\"ps8580\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps7279 ss658\"><div><div class=\"ps44 ss657\"><span class=\"f charStyle-1bac868e ps633\"> Adjustment to prior periods - deferred tax <span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8643 ss491\"><div><div class=\"ps44 ss489\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.17pt\"></span></span><span class=\"ps6532\">707</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8644 ss491\"><div><div class=\"ps44 ss489\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.17pt\"></span></span><span class=\"ps6532\">416</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8645 ss491\"><div><div class=\"ps44 ss489\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.72pt\"></span></span><span class=\"ps8580\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps8646 ss658\"><div><div class=\"ps44 ss657\"><span class=\"f charStyle-1bac868e ps633\"> Adjustment to prior periods - current tax <span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8647 ss491\"><div><div class=\"ps44 ss489\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.37pt\"></span></span><span class=\"ps6511\">1,855</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8648 ss491\"><div><div class=\"ps44 ss489\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.02pt\"></span></span><span class=\"ps6509\">74</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8649 ss491\"><div><div class=\"ps44 ss489\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.72pt\"></span></span><span class=\"ps8580\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps4614 ss658\"><div><div class=\"ps44 ss657\"><span class=\"f charStyle-1bac868e ps633\">Impact of overseas taxes<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8650 ss491\"><div><div class=\"ps44 ss489\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.37pt\"></span></span><span class=\"ps6511\">5,370</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8651 ss491\"><div><div class=\"ps44 ss489\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.37pt\"></span></span><span class=\"ps6511\">1,980</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8652 ss491\"><div><div class=\"ps44 ss489\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.72pt\"></span></span><span class=\"ps8580\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2215 ss658\"><div><div class=\"ps44 ss657\"><span class=\"f charStyle-b07b4361 ps42\">Income tax expense, reported<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8654 ss491\"><div><div class=\"ps44 ss489\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.61pt\"></span></span><span class=\"ps8653\">7,680</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8655 ss491\"><div><div class=\"ps44 ss489\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.61pt\"></span></span><span class=\"ps8653\">2,408</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8656 ss491\"><div><div class=\"ps44 ss489\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.72pt\"></span></span><span class=\"ps8580\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps8657 ss658\"><div><div class=\"ps44 ss657\"><span class=\"f charStyle-1bac868e ps633\">Effective tax rate (%)<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8660 ss491\"><div><div class=\"ps44 ss489\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps8658\"></span><span class=\"ps8658\">2.7</span><span class=\"ps8659\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8661 ss491\"><div><div class=\"ps44 ss489\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps8658\"></span><span class=\"ps8658\">3.6</span><span class=\"ps8659\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8662 ss491\"><div><div class=\"ps44 ss489\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps8513\"></span><span class=\"ps8513\">\u2014</span><span class=\"ps8659\">%</span></span></div></div></div></td></tr></tbody></table></div></div></div></div><div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies<span id=\"iaa5bb185da4f4e46bcc0ee0c55850511\"></span></span></div><div class=\"ps8664 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Income tax<span id=\"i3f81635efec443248fde029ce6605cb5\"></span></span></div><div class=\"ps8665 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Current income tax for current and prior periods is recognised at the </span></div><div class=\"ps8666 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">amount expected to be paid to or recovered from the tax authorities, </span></div><div class=\"ps8667 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">using the tax rates and tax laws that have been enacted or </span></div><div class=\"ps8668 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">substantively enacted at the balance sheet date.</span></div><div class=\"ps8669 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Management periodically evaluates positions taken in tax returns in </span></div><div class=\"ps8670 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">situations where applicable tax regulation is subject to interpretation. </span></div><div class=\"ps8671 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">It establishes provisions, where appropriate, based on amounts </span></div><div class=\"ps8672 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">expected to be paid to the tax authorities.</span></div><div class=\"ps3191 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Deferred income tax is recognised for all temporary differences </span></div><div class=\"ps8673 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">arising between the tax bases of assets and liabilities and their </span></div><div class=\"ps8674 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">carrying amounts in the financial statements. An exception applies </span></div><div class=\"ps8675 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">where the deferred tax arises from the initial recognition of an asset </span></div><div class=\"ps8676 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">or liability in a transaction that is not a business combination and, at </span></div><div class=\"ps8677 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the time of the transaction, affects neither accounting profit nor </span></div><div class=\"ps8678 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">taxable profit or loss and does not give rise to equal taxable and </span></div><div class=\"ps8679 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">deductible temporary differences.</span></div><div class=\"ps8680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Deferred income tax is measured at the tax rates expected to apply </span></div><div class=\"ps8681 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">when the related deferred income tax asset is realised or the deferred </span></div><div class=\"ps8682 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">income tax liability is settled, based on tax rates and tax laws that </span></div><div class=\"ps8683 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">have been enacted or substantively enacted at the balance sheet </span></div><div class=\"ps8684 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">date.</span></div><div class=\"ps8685 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Current and deferred income taxes are recognised as income or </span></div><div class=\"ps8686 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">expenses in profit or loss, except to the extent that the tax arises from </span></div><div class=\"ps8687 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">a transaction that is recognised directly in equity.</span></div><div class=\"ps8664 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps882\">Tonnage tax<span id=\"i1e48f8d893844d02ad3e8abca1bccee5\"></span></span></div><div class=\"ps8665 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">Under the scheme, ship-owners (or bareboat charterers) pay a fixed </span></div><div class=\"ps8666 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">tax amount per net tonne at their disposal rather than paying taxes </span></div><div class=\"ps8667 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">based on taxable income, expenses, and depreciation. The Group has </span></div><div class=\"ps8668 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">participated in the Danish scheme since 27 November 2020 and </span></div><div class=\"ps8689 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">joined the UK tonnage tax scheme, effective January 2025.</span></div><div class=\"ps8670 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">As the vessels are owned and registered by subsidiaries in </span></div><div class=\"ps8671 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">jurisdictions other than Denmark, the Group is also subject to </span></div><div class=\"ps8672 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">tonnage taxation in those jurisdictions. Such tonnage taxation is </span></div><div class=\"ps8690 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">calculated based on a fixed tax amount per tonne.</span></div><div class=\"ps8673 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">As this scheme is based on a notional income derived from tonnage </span></div><div class=\"ps8674 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">capacity and not based on the entities' actual income and expenses, </span></div><div class=\"ps8675 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">the Group does not consider the scheme to fall under the scope of </span></div><div class=\"ps8676 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">IAS 12. Consequently, tonnage tax expenses are not presented as part </span></div><div class=\"ps8677 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">of tax expense in the statement of profit and loss, but are recognised </span></div><div class=\"ps8678 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">within costs of sales.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-546": {
   "value": "<div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies<span id=\"iaa5bb185da4f4e46bcc0ee0c55850511\"></span></span></div><div class=\"ps8664 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Income tax<span id=\"i3f81635efec443248fde029ce6605cb5\"></span></span></div><div class=\"ps8665 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Current income tax for current and prior periods is recognised at the </span></div><div class=\"ps8666 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">amount expected to be paid to or recovered from the tax authorities, </span></div><div class=\"ps8667 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">using the tax rates and tax laws that have been enacted or </span></div><div class=\"ps8668 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">substantively enacted at the balance sheet date.</span></div><div class=\"ps8669 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Management periodically evaluates positions taken in tax returns in </span></div><div class=\"ps8670 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">situations where applicable tax regulation is subject to interpretation. </span></div><div class=\"ps8671 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">It establishes provisions, where appropriate, based on amounts </span></div><div class=\"ps8672 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">expected to be paid to the tax authorities.</span></div><div class=\"ps3191 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Deferred income tax is recognised for all temporary differences </span></div><div class=\"ps8673 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">arising between the tax bases of assets and liabilities and their </span></div><div class=\"ps8674 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">carrying amounts in the financial statements. An exception applies </span></div><div class=\"ps8675 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">where the deferred tax arises from the initial recognition of an asset </span></div><div class=\"ps8676 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">or liability in a transaction that is not a business combination and, at </span></div><div class=\"ps8677 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the time of the transaction, affects neither accounting profit nor </span></div><div class=\"ps8678 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">taxable profit or loss and does not give rise to equal taxable and </span></div><div class=\"ps8679 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">deductible temporary differences.</span></div><div class=\"ps8680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Deferred income tax is measured at the tax rates expected to apply </span></div><div class=\"ps8681 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">when the related deferred income tax asset is realised or the deferred </span></div><div class=\"ps8682 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">income tax liability is settled, based on tax rates and tax laws that </span></div><div class=\"ps8683 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">have been enacted or substantively enacted at the balance sheet </span></div><div class=\"ps8684 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">date.</span></div><div class=\"ps8685 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Current and deferred income taxes are recognised as income or </span></div><div class=\"ps8686 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">expenses in profit or loss, except to the extent that the tax arises from </span></div><div class=\"ps8687 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">a transaction that is recognised directly in equity.</span></div><div class=\"ps8664 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps882\">Tonnage tax<span id=\"i1e48f8d893844d02ad3e8abca1bccee5\"></span></span></div><div class=\"ps8665 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">Under the scheme, ship-owners (or bareboat charterers) pay a fixed </span></div><div class=\"ps8666 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">tax amount per net tonne at their disposal rather than paying taxes </span></div><div class=\"ps8667 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">based on taxable income, expenses, and depreciation. The Group has </span></div><div class=\"ps8668 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">participated in the Danish scheme since 27 November 2020 and </span></div><div class=\"ps8689 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">joined the UK tonnage tax scheme, effective January 2025.</span></div><div class=\"ps8670 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">As the vessels are owned and registered by subsidiaries in </span></div><div class=\"ps8671 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">jurisdictions other than Denmark, the Group is also subject to </span></div><div class=\"ps8672 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">tonnage taxation in those jurisdictions. Such tonnage taxation is </span></div><div class=\"ps8690 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">calculated based on a fixed tax amount per tonne.</span></div><div class=\"ps8673 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">As this scheme is based on a notional income derived from tonnage </span></div><div class=\"ps8674 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">capacity and not based on the entities' actual income and expenses, </span></div><div class=\"ps8675 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">the Group does not consider the scheme to fall under the scope of </span></div><div class=\"ps8676 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">IAS 12. Consequently, tonnage tax expenses are not presented as part </span></div><div class=\"ps8677 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">of tax expense in the statement of profit and loss, but are recognised </span></div><div class=\"ps8678 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">within costs of sales.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-548": {
   "value": "<div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies<span id=\"iaa5bb185da4f4e46bcc0ee0c55850511\"></span></span></div><div class=\"ps8664 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Income tax<span id=\"i3f81635efec443248fde029ce6605cb5\"></span></span></div><div class=\"ps8665 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Current income tax for current and prior periods is recognised at the </span></div><div class=\"ps8666 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">amount expected to be paid to or recovered from the tax authorities, </span></div><div class=\"ps8667 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">using the tax rates and tax laws that have been enacted or </span></div><div class=\"ps8668 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">substantively enacted at the balance sheet date.</span></div><div class=\"ps8669 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Management periodically evaluates positions taken in tax returns in </span></div><div class=\"ps8670 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">situations where applicable tax regulation is subject to interpretation. </span></div><div class=\"ps8671 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">It establishes provisions, where appropriate, based on amounts </span></div><div class=\"ps8672 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">expected to be paid to the tax authorities.</span></div><div class=\"ps3191 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Deferred income tax is recognised for all temporary differences </span></div><div class=\"ps8673 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">arising between the tax bases of assets and liabilities and their </span></div><div class=\"ps8674 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">carrying amounts in the financial statements. An exception applies </span></div><div class=\"ps8675 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">where the deferred tax arises from the initial recognition of an asset </span></div><div class=\"ps8676 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">or liability in a transaction that is not a business combination and, at </span></div><div class=\"ps8677 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the time of the transaction, affects neither accounting profit nor </span></div><div class=\"ps8678 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">taxable profit or loss and does not give rise to equal taxable and </span></div><div class=\"ps8679 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">deductible temporary differences.</span></div><div class=\"ps8680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Deferred income tax is measured at the tax rates expected to apply </span></div><div class=\"ps8681 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">when the related deferred income tax asset is realised or the deferred </span></div><div class=\"ps8682 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">income tax liability is settled, based on tax rates and tax laws that </span></div><div class=\"ps8683 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">have been enacted or substantively enacted at the balance sheet </span></div><div class=\"ps8684 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">date.</span></div><div class=\"ps8685 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Current and deferred income taxes are recognised as income or </span></div><div class=\"ps8686 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">expenses in profit or loss, except to the extent that the tax arises from </span></div><div class=\"ps8687 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">a transaction that is recognised directly in equity.</span></div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 21</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Deferred Income Taxes<span id=\"i9b19b13e97a24eb488ecc5645a95e3df\"></span></span></div><div class=\"ps10004 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Deferred tax charge<span id=\"i8b4fc2aa7a5646da83d25ab033f3e345\"></span></span></div><div class=\"ps10005 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Deferred tax is recognised in respect of temporary differences between the carrying amounts of assets and </span></div><div class=\"ps10006 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">liabilities for financial reporting purposes and the amounts used for income tax purposes, in accordance </span></div><div class=\"ps8157 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">with IAS12. Deferred tax is calculated at the income tax rates expected to apply in the period when the </span></div><div class=\"ps3396 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">liability is settled or the asset is realised, based on tax laws that have been enacted or substantively enacted </span></div><div class=\"ps272 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">at the balance sheet date. The deferred tax is recognised in profit or loss, except when it relates to other </span></div><div class=\"ps8158 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">items recognised in other comprehensive income. </span></div><div class=\"ps8159 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Deferred tax assets and liabilities<span id=\"i6f2bfdde1e38415393b050f698a58c86\"></span></span></div><div class=\"ps10010 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group has unrecognised deferred tax assets in Denmark and the UK, amounting to </span><span class=\"f charStyle-c1b8f9f6 ps10007\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10008\"> </span><span class=\"f charStyle-c1b8f9f6 ps10009\">52</span><span class=\"f charStyle-c1b8f9f6 ps9707\"> millon </span></div><div class=\"ps10027 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(</span><span class=\"f charStyle-c1b8f9f6 ps832\">31\u00a0December 2024</span><span class=\"f charStyle-c1b8f9f6 ps10011\">: </span><span class=\"f charStyle-c1b8f9f6 ps10012\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10013\"> </span><span class=\"f charStyle-c1b8f9f6 ps10014\">12\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10015\">; 31 December </span><span class=\"f charStyle-c1b8f9f6 ps10016\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10017\">:</span><span class=\"f charStyle-c1b8f9f6 ps10018\"> </span><span class=\"f charStyle-c1b8f9f6 ps10019\">EUR </span><span class=\"f charStyle-c1b8f9f6 ps10020\">13\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10021\">) and </span><span class=\"f charStyle-c1b8f9f6 ps10022\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10023\"> </span><span class=\"f charStyle-c1b8f9f6 ps10024\">52\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10025\"> (</span><span class=\"f charStyle-c1b8f9f6 ps10026\">31\u00a0December </span></div><div class=\"ps10034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">2024</span><span class=\"f charStyle-c1b8f9f6 ps1129\">: </span><span class=\"f charStyle-c1b8f9f6 ps8009\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8010\"> </span><span class=\"f charStyle-c1b8f9f6 ps8011\">89\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10028\">;</span><span class=\"f charStyle-c1b8f9f6 ps10029\"> 31 December </span><span class=\"f charStyle-c1b8f9f6 ps10030\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10031\">: EUR </span><span class=\"f charStyle-c1b8f9f6 ps10032\">124\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10033\">), respectively. These deferred tax assets arise from </span></div><div class=\"ps10039 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">tax losses and shipping allowances. </span><span class=\"f charStyle-c1b8f9f6 ps10035\">No</span><span class=\"f charStyle-c1b8f9f6 ps10036\"> deferred tax asset has been recognised as of </span><span class=\"f charStyle-c1b8f9f6 ps10037\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10038\">, as </span></div><div class=\"ps10041 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">they are not expected to be utilised within the foreseeable future three to five). </span><span class=\"f charStyle-c1b8f9f6 ps10040\">A majority of the Group\u2019s UK </span></div><div class=\"ps10044 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">unrecognised deferred asset will be forfeited on 1</span><span class=\"f charStyle-a07cfac1 ps10042\"><sup> </sup></span><span class=\"f charStyle-c1b8f9f6 ps10043\">January 2025 as a result of the Group\u2019s UK tonnage tax </span></div><div class=\"ps3214 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">election.</span></div><div class=\"ps6987 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group has a deferred tax liability relating to the ownership of the Wind Zaratan vessel in Japan, arising </span></div><div class=\"ps4724 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">from temporary differences between the carrying amount and the tax base of the vessel (</span><span class=\"f charStyle-c1b8f9f6 ps10045\">2025</span><span class=\"f charStyle-c1b8f9f6 ps10046\">: </span><span class=\"f charStyle-c1b8f9f6 ps10047\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10048\"> </span></div><div class=\"ps6988 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">43\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9057\">; </span><span class=\"f charStyle-c1b8f9f6 ps10049\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10050\">: </span><span class=\"f charStyle-c1b8f9f6 ps10051\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10052\"> </span><span class=\"f charStyle-c1b8f9f6 ps10053\">17\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10054\">;</span><span class=\"f charStyle-c1b8f9f6 ps10055\"> </span><span class=\"f charStyle-c1b8f9f6 ps10056\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10057\">: </span><span class=\"f charStyle-c1b8f9f6 ps10058\">14\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10059\">), offset by the tax value of tax losses (</span><span class=\"f charStyle-c1b8f9f6 ps10060\">2025</span><span class=\"f charStyle-c1b8f9f6 ps10061\">: </span><span class=\"f charStyle-c1b8f9f6 ps10062\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10063\"> </span><span class=\"f charStyle-c1b8f9f6 ps10064\">30\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10065\">; </span></div><div class=\"ps6989 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">2024</span><span class=\"f charStyle-c1b8f9f6 ps1129\">: </span><span class=\"f charStyle-c1b8f9f6 ps8009\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8010\"> </span><span class=\"f charStyle-c1b8f9f6 ps8011\">5\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10066\">;</span><span class=\"f charStyle-c1b8f9f6 ps10067\"> </span><span class=\"f charStyle-c1b8f9f6 ps10068\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10069\">: </span><span class=\"f charStyle-c1b8f9f6 ps10070\">4\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10071\">). As of </span><span class=\"f charStyle-c1b8f9f6 ps10072\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10073\">, deferred tax liabilities amounted to </span><span class=\"f charStyle-c1b8f9f6 ps10074\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10075\"> </span><span class=\"f charStyle-c1b8f9f6 ps10076\">13</span><span class=\"f charStyle-c1b8f9f6 ps10077\"> </span></div><div class=\"ps6990 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">million (2024: </span><span class=\"f charStyle-c1b8f9f6 ps10078\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10079\"> </span><span class=\"f charStyle-c1b8f9f6 ps10080\">12\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10081\">).</span></div><div class=\"ps10083 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">For accounting policies on deferred taxes, please refer to </span><span class=\"f charStyle-c1b8f9f6 ps10082\">Note 10.</span></div><div class=\"ps10106 ss0\"><div class=\"ss177 ws0 ps1056\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:243.75pt\"></td><td style=\"padding:0;width:57.75pt\"></td><td style=\"padding:0;width:57.75pt\"></td><td style=\"padding:0;width:57.75pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss662\"><div><div class=\"ps750 ss661\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8693 ss491\"><div><div class=\"ps744 ss489\"><span class=\"f charStyle-281247bf ps8575\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7673 ss491\"><div><div class=\"ps744 ss489\"><span class=\"f charStyle-054ead99 ps8575\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8694 ss491\"><div><div class=\"ps744 ss489\"><span class=\"f charStyle-054ead99 ps8575\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps46 ss665\"><div><div class=\"ps2693 ss661\"><span class=\"f charStyle-b07b4361 ps42\">Reconciliation of deferred tax liabilities, net<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps463 ss665\"><div><div class=\"ps2693 ss661\"><span class=\"f charStyle-b07b4361 ps42\">1 January<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10085 ss490\"><div><div class=\"ps2693 ss489\"><span class=\"f charStyle-48c03ae0\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.02pt\"></span></span><span class=\"ps10084\">11,972<span style=\"display:inline-block;height:6.55pt;width:2.62pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7719 ss490\"><div><div class=\"ps2693 ss489\"><span class=\"f charStyle-1bac868e\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:30.19pt\"></span></span><span class=\"ps10086\">10,191<span style=\"display:inline-block;height:6.55pt;width:2.62pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10088 ss490\"><div><div class=\"ps2693 ss489\"><span class=\"f charStyle-1bac868e\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.75pt\"></span></span><span class=\"ps10087\">\u2014<span style=\"display:inline-block;height:6.55pt;width:2.62pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps1803 ss665\"><div><div class=\"ps2693 ss661\"><span class=\"f charStyle-1bac868e ps633\">Acquisition of businesses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10089 ss490\"><div><div class=\"ps2693 ss489\"><span class=\"f charStyle-48c03ae0\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.75pt\"></span></span><span class=\"ps10087\">\u2014<span style=\"display:inline-block;height:6.55pt;width:2.62pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10090 ss490\"><div><div class=\"ps2693 ss489\"><span class=\"f charStyle-1bac868e\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.75pt\"></span></span><span class=\"ps10087\">\u2014<span style=\"display:inline-block;height:6.55pt;width:2.62pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10092 ss490\"><div><div class=\"ps2693 ss489\"><span class=\"f charStyle-1bac868e\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.82pt\"></span></span><span class=\"ps10091\">10,321<span style=\"display:inline-block;height:6.55pt;width:2.62pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps656 ss665\"><div><div class=\"ps2693 ss661\"><span class=\"f charStyle-1bac868e ps633\">Movements during the year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10093 ss490\"><div><div class=\"ps2693 ss489\"><span class=\"f charStyle-48c03ae0\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32pt\"></span></span><span class=\"ps5207\">1,284<span style=\"display:inline-block;height:6.55pt;width:2.62pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10095 ss490\"><div><div class=\"ps2693 ss489\"><span class=\"f charStyle-1bac868e\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:33.76pt\"></span></span><span class=\"ps10094\">1,137<span style=\"display:inline-block;height:6.55pt;width:2.62pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10096 ss490\"><div><div class=\"ps2693 ss489\"><span class=\"f charStyle-1bac868e\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.75pt\"></span></span><span class=\"ps10087\">\u2014<span style=\"display:inline-block;height:6.55pt;width:2.62pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2883 ss665\"><div><div class=\"ps2693 ss661\"><span class=\"f charStyle-1bac868e ps633\">Exchange differences<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10097 ss490\"><div><div class=\"ps2693 ss489\"><span class=\"f charStyle-48c03ae0\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.75pt\"></span></span><span class=\"ps10087\">\u2014<span style=\"display:inline-block;height:6.55pt;width:2.62pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10099 ss490\"><div><div class=\"ps2693 ss489\"><span class=\"f charStyle-1bac868e\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.15pt\"></span></span><span class=\"ps10098\">644<span style=\"display:inline-block;height:6.55pt;width:2.62pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10101 ss490\"><div><div class=\"ps2693 ss489\"><span class=\"f charStyle-1bac868e\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.28pt\"></span></span><span class=\"ps10100\">(130)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2086 ss665\"><div><div class=\"ps2693 ss661\"><span class=\"f charStyle-b07b4361 ps42\">31 December<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10103 ss490\"><div><div class=\"ps2693 ss489\"><span class=\"f charStyle-48c03ae0\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.45pt\"></span></span><span class=\"ps10102\">13,256<span style=\"display:inline-block;height:6.55pt;width:2.62pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10104 ss490\"><div><div class=\"ps2693 ss489\"><span class=\"f charStyle-1bac868e\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.02pt\"></span></span><span class=\"ps10084\">11,972<span style=\"display:inline-block;height:6.55pt;width:2.62pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10105 ss490\"><div><div class=\"ps2693 ss489\"><span class=\"f charStyle-1bac868e\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:30.19pt\"></span></span><span class=\"ps10086\">10,191<span style=\"display:inline-block;height:6.55pt;width:2.62pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-547": {
   "value": "<div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies<span id=\"iaa5bb185da4f4e46bcc0ee0c55850511\"></span></span></div><div class=\"ps8664 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Income tax<span id=\"i3f81635efec443248fde029ce6605cb5\"></span></span></div><div class=\"ps8665 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Current income tax for current and prior periods is recognised at the </span></div><div class=\"ps8666 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">amount expected to be paid to or recovered from the tax authorities, </span></div><div class=\"ps8667 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">using the tax rates and tax laws that have been enacted or </span></div><div class=\"ps8668 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">substantively enacted at the balance sheet date.</span></div><div class=\"ps8669 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Management periodically evaluates positions taken in tax returns in </span></div><div class=\"ps8670 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">situations where applicable tax regulation is subject to interpretation. </span></div><div class=\"ps8671 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">It establishes provisions, where appropriate, based on amounts </span></div><div class=\"ps8672 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">expected to be paid to the tax authorities.</span></div><div class=\"ps3191 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Deferred income tax is recognised for all temporary differences </span></div><div class=\"ps8673 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">arising between the tax bases of assets and liabilities and their </span></div><div class=\"ps8674 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">carrying amounts in the financial statements. An exception applies </span></div><div class=\"ps8675 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">where the deferred tax arises from the initial recognition of an asset </span></div><div class=\"ps8676 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">or liability in a transaction that is not a business combination and, at </span></div><div class=\"ps8677 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the time of the transaction, affects neither accounting profit nor </span></div><div class=\"ps8678 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">taxable profit or loss and does not give rise to equal taxable and </span></div><div class=\"ps8679 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">deductible temporary differences.</span></div><div class=\"ps8680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Deferred income tax is measured at the tax rates expected to apply </span></div><div class=\"ps8681 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">when the related deferred income tax asset is realised or the deferred </span></div><div class=\"ps8682 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">income tax liability is settled, based on tax rates and tax laws that </span></div><div class=\"ps8683 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">have been enacted or substantively enacted at the balance sheet </span></div><div class=\"ps8684 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">date.</span></div><div class=\"ps8685 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Current and deferred income taxes are recognised as income or </span></div><div class=\"ps8686 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">expenses in profit or loss, except to the extent that the tax arises from </span></div><div class=\"ps8687 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">a transaction that is recognised directly in equity.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-549": {
   "value": "<div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 11</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Earnings Per Share (EPS)<span id=\"i1746f29043224393ba19b7f53f1977a8\"></span></span></div><div class=\"ps7168 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The following table reflects the income and share data used in the basic and diluted EPS calculations:</span></div><div class=\"ps8712 ss0\"><div class=\"ss177 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:243.75pt\"></td><td style=\"padding:0;width:57.75pt\"></td><td style=\"padding:0;width:57.75pt\"></td><td style=\"padding:0;width:57.75pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss662\"><div><div class=\"ps750 ss661\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8693 ss491\"><div><div class=\"ps44 ss489\"><span class=\"f charStyle-281247bf ps8575\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7673 ss491\"><div><div class=\"ps44 ss489\"><span class=\"f charStyle-054ead99 ps8575\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8694 ss491\"><div><div class=\"ps44 ss489\"><span class=\"f charStyle-054ead99 ps8575\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:29.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps46 ss663\"><div><div class=\"ps1017 ss661\"><span class=\"f charStyle-b07b4361 ps42\">Profit attributable to ordinary equity holders of the <span class=\"f ps43\"> </span></span></div><div class=\"ps1018 ss661\"><span class=\"f charStyle-b07b4361 ps42\">parent for basic earnings</span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8696 ss664\"><div><div class=\"ps1018 ss489\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:15.27pt\"></span></span><span class=\"ps8695\">280,184</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8698 ss664\"><div><div class=\"ps1018 ss489\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:20.44pt\"></span></span><span class=\"ps8697\">65,069</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8699 ss664\"><div><div class=\"ps1018 ss489\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:20.44pt\"></span></span><span class=\"ps8697\">11,498</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"></td><td style=\"background-color:#206079;padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"></td><td style=\"background-color:#206079;padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2072 ss662\"><div><div class=\"ps750 ss661\"><span class=\"f charStyle-64a4cf84 ps42\">Thousands<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8700 ss491\"><div><div class=\"ps44 ss489\"><span class=\"f charStyle-281247bf ps8575\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7688 ss491\"><div><div class=\"ps44 ss489\"><span class=\"f charStyle-054ead99 ps8575\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8701 ss491\"><div><div class=\"ps44 ss489\"><span class=\"f charStyle-054ead99 ps8575\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2192 ss665\"><div><div class=\"ps5619 ss661\"><span class=\"f charStyle-b07b4361 ps42\">Weighted average number of ordinary shares for basic <span class=\"f ps43\"> </span></span></div><div class=\"ps5618 ss661\"><span class=\"f charStyle-b07b4361 ps42\">EPS</span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8702 ss490\"><div><div class=\"ps5618 ss489\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:15.27pt\"></span></span><span class=\"ps8695\">350,508</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8703 ss490\"><div><div class=\"ps5618 ss489\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:15.27pt\"></span></span><span class=\"ps8695\">345,979</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8704 ss490\"><div><div class=\"ps5618 ss489\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:15.27pt\"></span></span><span class=\"ps8695\">201,362</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps5151 ss662\"><div><div class=\"ps44 ss661\"><span class=\"f charStyle-1bac868e ps633\">Effect of dilution from share-based payments programme<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8705 ss491\"><div><div class=\"ps44 ss489\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.37pt\"></span></span><span class=\"ps6511\">4,182</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7694 ss491\"><div><div class=\"ps44 ss489\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.17pt\"></span></span><span class=\"ps6532\">980</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8706 ss491\"><div><div class=\"ps44 ss489\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.37pt\"></span></span><span class=\"ps6511\">1,861</span></span></div></div></div></td></tr><tr style=\"height:27pt\"><td style=\"padding:0\"><div class=\"ps2201 ss666\"><div><div class=\"ps8707 ss661\"><span class=\"f charStyle-b07b4361 ps42\">Weighted average number of ordinary shares adjusted <span class=\"f ps43\"> </span></span></div><div class=\"ps8708 ss661\"><span class=\"f charStyle-b07b4361 ps42\">for the effect of dilution\u00b9</span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8709 ss667\"><div><div class=\"ps8708 ss489\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:15.27pt\"></span></span><span class=\"ps8695\">354,690</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8710 ss667\"><div><div class=\"ps8708 ss489\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:15.27pt\"></span></span><span class=\"ps8695\">346,959</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8711 ss667\"><div><div class=\"ps8708 ss489\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:15.27pt\"></span></span><span class=\"ps8695\">203,223</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps8713 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The weighted average number of ordinary shares considers the weighted average effect of treasury shares </span></div><div class=\"ps8714 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">during the period. </span></div><div class=\"ps8715 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">During 2024, the weighted average number of ordinary shares was also affected by the issuance of shares in </span></div><div class=\"ps8718 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">connection with a private placement on 15 February 2024, resulting in the issuance of </span><span class=\"f charStyle-c1b8f9f6 ps8716\">39.5\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8717\"> shares, a </span></div><div class=\"ps8620 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">private placement on 26 June 2024, resulting in the issuance of </span><span class=\"f charStyle-c1b8f9f6 ps8719\">28\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8720\"> shares and the share buy-back </span></div><div class=\"ps8723 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">programme, resulting in the repurchase of </span><span class=\"f charStyle-c1b8f9f6 ps8721\">215\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8722\"> shares. </span></div><div class=\"ps8725 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In December 2023, </span><span class=\"f charStyle-c1b8f9f6 ps1399\">114\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8724\"> shares were issued in connection with the business combination with Eneti. </span></div><div class=\"ps8729 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-df865089 ps186\">There have been no other transactions involving ordinary shares or potential ordinary shares between the reporting date and the date </span></div><div class=\"ps8731 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-df865089 ps186\">of authorisation of these consolidated financial statements.</span><span class=\"f charStyle-f8d16a17 ps8730\"><sup> </sup></span></div><div class=\"ps8735 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-f8d16a17 ps8733\"><sup>1</sup></span><span class=\"f charStyle-df865089 ps8734\">The weighted average number of shares considers the weighted average effect of share-based payments during the year.</span></div><div class=\"ps7781 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Accounting policies<span id=\"iad8a928edd3c4a15b20704b9809d0a73\"></span></span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The Company calculates Basic EPS by dividing the profit for the year attributable to ordinary equity holders </span></div><div class=\"ps7146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">of the parent by the weighted average number of ordinary shares outstanding during the year.</span></div><div class=\"ps422 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Diluted EPS is calculated by dividing the profit attributable to ordinary holders of the parent by the weighted </span></div><div class=\"ps423 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">average number of ordinary shares outstanding during the year plus the weighted average number of </span></div><div class=\"ps424 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">ordinary shares that would be issued on conversion of all the dilutive potential ordinary shares into ordinary </span></div><div class=\"ps7103 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">shares.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-550": {
   "value": "<div><div id=\"i60a9312555114c61b3ebee7078e135c5_2486\" style=\"position:absolute;top:42.52pt\"></div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 12</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Intangible Assets<span id=\"i5659d7b42a954133ae10d740547684b9\"></span></span></div><div class=\"ps7670 ss0\"><div class=\"ss670 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:180.75pt\"></td><td style=\"padding:0;width:74.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8740 ss556\"><div><div class=\"ps44 ss164\"><span class=\"f charStyle-281247bf ps8739\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"></td><td style=\"background-color:#206079;padding:0\"></td><td style=\"padding:0\"><div class=\"ps6076 ss556\"><div><div class=\"ps44 ss164\"><span class=\"f charStyle-054ead99 ps8739\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps8741 ss556\"><div><div class=\"ps44 ss164\"><span class=\"f charStyle-054ead99 ps8739\">2023<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps46 ss669\"><div><div class=\"ps8742 ss668\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8745 ss165\"><div><div class=\"ps8744 ss164\"><span class=\"f charStyle-281247bf ps8743\">Software<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8747 ss165\"><div><div class=\"ps8744 ss164\"><span class=\"f charStyle-281247bf ps8746\">Goodwill<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8748 ss165\"><div><div class=\"ps8744 ss164\"><span class=\"f charStyle-281247bf ps5306\">Total<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8749 ss165\"><div><div class=\"ps8744 ss164\"><span class=\"f charStyle-054ead99 ps8743\">Software<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8750 ss165\"><div><div class=\"ps8744 ss164\"><span class=\"f charStyle-054ead99 ps8746\">Goodwill<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8751 ss165\"><div><div class=\"ps8744 ss164\"><span class=\"f charStyle-054ead99 ps5306\">Total<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8752 ss165\"><div><div class=\"ps8744 ss164\"><span class=\"f charStyle-054ead99 ps8743\">Software<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8754 ss165\"><div><div class=\"ps8744 ss164\"><span class=\"f charStyle-054ead99 ps8753\">Goodwill<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8755 ss165\"><div><div class=\"ps8744 ss164\"><span class=\"f charStyle-054ead99 ps6506\">Total<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5184 ss669\"><div><div class=\"ps4584 ss668\"><span class=\"f charStyle-b07b4361 ps42\">Cost<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps2158 ss669\"><div><div class=\"ps4584 ss668\"><span class=\"f charStyle-1bac868e ps633\">Beginning of period<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8756 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6516\">1,069</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8757 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.02pt\"></span></span><span class=\"ps6509\">17,763</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8758 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.02pt\"></span></span><span class=\"ps6509\">18,832</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8760 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">693</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8761 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.02pt\"></span></span><span class=\"ps6509\">16,707</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8762 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.02pt\"></span></span><span class=\"ps6509\">17,400</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8763 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">662</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8764 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8765 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">662</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps6329 ss669\"><div><div class=\"ps4584 ss668\"><span class=\"f charStyle-1bac868e ps633\">Acquisition of businesses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8766 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8767 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8768 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8769 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8770 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8771 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8772 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8773 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.02pt\"></span></span><span class=\"ps6509\">16,919</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8774 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.02pt\"></span></span><span class=\"ps6509\">16,919</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps1035 ss669\"><div><div class=\"ps4584 ss668\"><span class=\"f charStyle-1bac868e ps633\">Additions<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8775 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6516\">1,506</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8776 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8777 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6516\">1,506</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8778 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">410</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8779 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8780 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">410</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8781 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.52pt\"></span></span><span class=\"ps6646\">31</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8782 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8783 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.52pt\"></span></span><span class=\"ps6646\">31</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps8784 ss669\"><div><div class=\"ps4584 ss668\"><span class=\"f charStyle-1bac868e ps633\">Disposals<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8785 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8786 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8787 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8789 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.1pt\"></span></span><span class=\"ps8788\">(38)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8790 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8791 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.1pt\"></span></span><span class=\"ps8788\">(38)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8792 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8793 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8794 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps1826 ss669\"><div><div class=\"ps4584 ss668\"><span class=\"f charStyle-1bac868e ps633\">Exchange differences<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8795 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8796 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8797 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8798 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:60.37pt\"></span></span><span class=\"ps6644\">4</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8799 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6516\">1,056</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8800 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6516\">1,060</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8801 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8803 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:45.25pt\"></span></span><span class=\"ps8802\">(212)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8804 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:45.25pt\"></span></span><span class=\"ps8802\">(212)</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8805 ss669\"><div><div class=\"ps4584 ss668\"><span class=\"f charStyle-b07b4361 ps42\">31 December<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8806 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.11pt\"></span></span><span class=\"ps6623\">2,575</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8807 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6578\">17,763</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8808 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6578\">20,338</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8809 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.11pt\"></span></span><span class=\"ps6623\">1,069</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8810 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6578\">17,763</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8811 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6578\">18,832</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8813 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8812\">693</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8814 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6578\">16,707</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8815 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6578\">17,400</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8816 ss669\"><div><div class=\"ps4584 ss668\"><span class=\"f charStyle-b07b4361 ps42\">Accumulated depreciation<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps4828 ss669\"><div><div class=\"ps4584 ss668\"><span class=\"f charStyle-1bac868e ps633\">Beginning of period<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8817 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">642</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8818 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8819 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">642</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8820 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">453</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8821 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8822 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">453</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8823 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">243</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8824 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8825 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">243</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps2231 ss669\"><div><div class=\"ps4584 ss668\"><span class=\"f charStyle-1bac868e ps633\">Depreciation charge<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8826 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">264</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8827 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8828 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">264</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8829 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">189</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8830 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8831 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">189</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8832 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">210</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8833 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8834 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">210</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6618 ss669\"><div><div class=\"ps4584 ss668\"><span class=\"f charStyle-b07b4361 ps42\">31 December<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8835 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8812\">906</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8836 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8837 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8812\">906</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8838 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8812\">642</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8839 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8840 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8812\">642</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8841 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8812\">453</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8842 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8843 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8812\">453</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4023 ss669\"><div><div class=\"ps4584 ss668\"><span class=\"f charStyle-b07b4361 ps42\">Net book value<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8844 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.11pt\"></span></span><span class=\"ps6623\">1,669</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8845 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6578\">17,763</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8846 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6578\">19,432</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8847 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8812\">427</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8848 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6578\">17,763</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8849 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6578\">18,190</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8850 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8812\">240</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8851 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6578\">16,707</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8852 ss165\"><div><div class=\"ps4584 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6578\">16,947</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps3129 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Software additions during </span><span class=\"f charStyle-c1b8f9f6 ps8853\">2025</span><span class=\"f charStyle-c1b8f9f6 ps8854\">, </span><span class=\"f charStyle-c1b8f9f6 ps8855\">2024</span><span class=\"f charStyle-c1b8f9f6 ps8856\"> and </span><span class=\"f charStyle-c1b8f9f6 ps8857\">2023</span><span class=\"f charStyle-c1b8f9f6 ps8858\"> are mainly related to the development of the Company\u2019s software solutions. In 2025, software additions also included the implementation costs related to the Enterprise </span></div><div class=\"ps3130 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Resource Planning (ERP) system.</span></div><div class=\"ps3102 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Goodwill of </span><span class=\"f charStyle-c1b8f9f6 ps8859\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8860\"> </span><span class=\"f charStyle-c1b8f9f6 ps8861\">16.9\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8862\"> was recognised on 19 December 2023 in relation to the acquisition of Eneti. The Group has </span><span class=\"f charStyle-c1b8f9f6 ps8863\">two</span><span class=\"f charStyle-c1b8f9f6 ps8864\"> CGUs consisting of the WTGFIV and the O&amp;M units with specific vessels allocated.</span></div></div><div class=\"ps7299 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Impairment test<span id=\"iab9b61bd06524ed3b49b20adbe5c6206\"></span></span></div><div class=\"ps7304 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Goodwill arising from the merger with Eneti is allocated to the WTGFIV CGU as the expected synergies will </span></div><div class=\"ps7317 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">arise from this CGU. Management has performed an evaluation of impairment indicators for the O&amp;MV </span></div><div class=\"ps8865 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">CGU to which no goodwill is allocated. Management concluded that indicators of impairment are present </span></div><div class=\"ps8866 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">and has therefore also performed an impairment test for this CGU. The Company has performed an annual </span></div><div class=\"ps8867 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">impairment test of the WTGFIV CGU. Neither in 2025, 2024 and nor in 2023 did the test result in any </span></div><div class=\"ps8868 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">impairment. </span></div><div class=\"ps8869 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The annual impairment test is an assessment of whether the recoverable amount being the value in use (or </span></div><div class=\"ps8870 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">fair value less cost of disposal) of the cash generating unit, will be able to generate sufficient positive future </span></div><div class=\"ps8871 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">net cash flows to support the carrying amount of the assets related to the cash generating unit.</span></div><div class=\"ps8912 ss0\"><div class=\"ss177 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:147pt\"></td><td style=\"padding:0;width:45pt\"></td><td style=\"padding:0;width:45pt\"></td><td style=\"padding:0;width:45pt\"></td><td style=\"padding:0;width:45pt\"></td><td style=\"padding:0;width:45pt\"></td><td style=\"padding:0;width:45pt\"></td></tr><tr style=\"height:32.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss672\"><div><div class=\"ps8872 ss671\"><span class=\"f charStyle-64a4cf84 ps42\">EUR m<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8874 ss674\"><div><div class=\"ps5573 ss673\"><span class=\"f charStyle-054ead99 ps8873\">Recoverable amount<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8877 ss674\"><div><div class=\"ps5579 ss673\"><span class=\"f charStyle-054ead99 ps8875\">Excess values (recoverable <span class=\"f ps43\"> </span></span></div><div class=\"ps5580 ss673\"><span class=\"f charStyle-054ead99 ps8876\">amount less carrying amount)</span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8878 ss675\"><div><div class=\"ps438 ss671\"><span class=\"f charStyle-b07b4361 ps42\">CGU<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8879 ss676\"><div><div class=\"ps438 ss162\"><span class=\"f charStyle-281247bf ps6369\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8882 ss676\"><div><div class=\"ps438 ss162\"><span class=\"f charStyle-054ead99 ps8880\">2024<span class=\"f ps43\"> </span></span><span class=\"f charStyle-99173ab7 ps8881\"><span class=\"f ps43\"> </span><span class=\"f\">1</span><sup></sup></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8884 ss676\"><div><div class=\"ps438 ss162\"><span class=\"f charStyle-054ead99 ps8883\">2023\u00b9<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8885 ss676\"><div><div class=\"ps438 ss162\"><span class=\"f charStyle-281247bf ps6369\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8886 ss676\"><div><div class=\"ps438 ss162\"><span class=\"f charStyle-054ead99 ps8883\">2024\u00b9<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8887 ss676\"><div><div class=\"ps438 ss162\"><span class=\"f charStyle-054ead99 ps8883\">2023\u00b9<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps8888 ss675\"><div><div class=\"ps438 ss671\"><span class=\"f charStyle-b07b4361 ps42\">WTGFIV<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8890 ss676\"><div><div class=\"ps438 ss162\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:14.62pt\"></span></span><span class=\"ps8889\">5,099</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8891 ss676\"><div><div class=\"ps438 ss162\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:14.62pt\"></span></span><span class=\"ps8889\">1,103</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8892 ss676\"><div><div class=\"ps438 ss162\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.42pt\"></span></span><span class=\"ps6787\">574</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8893 ss676\"><div><div class=\"ps438 ss162\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:14.62pt\"></span></span><span class=\"ps8889\">2,457</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8894 ss676\"><div><div class=\"ps438 ss162\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.42pt\"></span></span><span class=\"ps6787\">227</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8895 ss676\"><div><div class=\"ps438 ss162\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.27pt\"></span></span><span class=\"ps6789\">58</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps7792 ss675\"><div><div class=\"ps438 ss671\"><span class=\"f charStyle-b07b4361 ps42\">O&amp;MV<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8896 ss676\"><div><div class=\"ps438 ss162\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.42pt\"></span></span><span class=\"ps6787\">355</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8897 ss676\"><div><div class=\"ps438 ss162\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.27pt\"></span></span><span class=\"ps6789\">89</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8898 ss676\"><div><div class=\"ps438 ss162\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.27pt\"></span></span><span class=\"ps6789\">95</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8899 ss676\"><div><div class=\"ps438 ss162\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.27pt\"></span></span><span class=\"ps6789\">41</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8900 ss676\"><div><div class=\"ps438 ss162\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:31.12pt\"></span></span><span class=\"ps6802\">1</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8902 ss676\"><div><div class=\"ps438 ss162\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:26.97pt\"></span></span><span class=\"ps8901\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2262 ss675\"><div><div class=\"ps438 ss671\"><span class=\"f charStyle-b07b4361 ps42\">Total<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8904 ss676\"><div><div class=\"ps438 ss162\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:12.86pt\"></span></span><span class=\"ps8903\">5,454</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8905 ss676\"><div><div class=\"ps438 ss162\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:12.86pt\"></span></span><span class=\"ps8903\">1,192</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8907 ss676\"><div><div class=\"ps438 ss162\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:20.46pt\"></span></span><span class=\"ps8906\">669</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8908 ss676\"><div><div class=\"ps438 ss162\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:12.86pt\"></span></span><span class=\"ps8903\">2,498</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8909 ss676\"><div><div class=\"ps438 ss162\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:20.46pt\"></span></span><span class=\"ps8906\">228</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8911 ss676\"><div><div class=\"ps438 ss162\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.63pt\"></span></span><span class=\"ps8910\">58</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps8913 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Applied assumptions<span id=\"i2cf8076027824abc873b16742601d71c\"></span></span></div><div class=\"ps8914 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">As of 31 December 2025, the assessment of the recoverable amount of the CGU's is based on the value in </span></div><div class=\"ps8915 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">use (VIU). In 2024 and 2023, the impairment test involves estimating both FVLCOD (Fair value less costs of </span></div><div class=\"ps8916 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">disposal) and VIU and comparing the higher amount to the asset\u2019s carrying amount. Fair values are </span></div><div class=\"ps8917 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">obtained through third-party broker assessment (level 3) of the vessels from at least two independent </span></div><div class=\"ps8918 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">brokers.</span></div><div class=\"ps8919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The discounted cash flow period has been calculated from the remaining useful life of the vessels as this is </span></div><div class=\"ps8920 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">deemed most representative for the actual value of the vessels. Accordingly, the calculation has no terminal </span></div><div class=\"ps8921 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">value. </span></div><div class=\"ps7304 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The VIU is based on cash flow projections in financial budgets and business plans using a five year period </span></div><div class=\"ps7317 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">from 2026-2031 as follows:</span></div><div class=\"ps3371 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps8922\">\u2022<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps8923\">Revenue projection is based on signed contracts and expected revenue for the capacity not signed </span></div><div class=\"ps6966 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps8923\">yet as well as foundation contracts. </span></div><div class=\"ps8924 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps8922\">\u2022<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps8923\">Cost of sales are based on the business plan which is inflated afterwards, and expected </span></div><div class=\"ps7335 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps8923\">maintenance based on investment budget.</span></div><div class=\"ps8926 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps8922\">\u2022<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps8923\">Inflation is forecast at </span><span class=\"f charStyle-c1b8f9f6 ps8925\">2.5%</span></div><div class=\"ps8927 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The discount rate used in the calculation is based on a Weighted Average Cost of Capital (WACC), reflecting </span></div><div class=\"ps4528 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">the cost of equity, cost of debt and capital structure, and is </span><span class=\"f charStyle-c1b8f9f6 ps8928\">10.1%</span><span class=\"f charStyle-c1b8f9f6 ps8929\"> after tax, (</span><span class=\"f charStyle-c1b8f9f6 ps8930\">9.5%</span><span class=\"f charStyle-c1b8f9f6 ps8931\"> after tax in 2024 and </span><span class=\"f charStyle-c1b8f9f6 ps8932\">9.5%</span><span class=\"f charStyle-c1b8f9f6 ps8933\"> </span></div><div class=\"ps8934 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">after tax in 2023). As Cadeler is subject to the tonnage tax regime, the tax consideration in the WACC </span></div><div class=\"ps6975 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">calculation for impairment of a vessel is immaterial, thus the before and after tax WACC remain the same for </span></div><div class=\"ps8935 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">impairment testing purposes. Regarding the O&amp;MV CGU, the calculations showed no indication of </span></div><div class=\"ps8936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">impairment, as the future value of cash flows was higher than the carrying amount of the vessel, although </span></div><div class=\"ps8937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">there was limited headroom.</span></div><div class=\"ps8938 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Accounting policies<span id=\"i65d000fd33794c69802776ec533f71cd\"></span></span></div><div class=\"ps6980 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Goodwill is tested for impairment at least once a year or sooner if an impairment indication arises. </span></div><div class=\"ps6981 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Impairment testing is performed for each CGU to which goodwill is allocated, as determined by </span></div><div class=\"ps8939 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Management.</span></div><div class=\"ps8940 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">If the carrying amount of intangible assets exceeds the recoverable amount, an impairment will be </span></div><div class=\"ps8941 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">recognised in the statement of profit and loss. Any impairment of goodwill impairment losses cannot be </span></div><div class=\"ps5066 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">reversed subsequently.</span></div><div class=\"ps8942 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Intangible assets, such as software, are recognised at cost less accumulated depreciation and accumulated </span></div><div class=\"ps8943 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">impairment losses. The cost of an intangible asset initially recognised includes its purchase price and any </span></div><div class=\"ps8944 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">directly attributable costs necessary to prepare the asset for its intended use. Depreciation is calculated on a </span></div><span class=\"f charStyle-c1b8f9f6 ps1008\">straight-line basis over the estimated useful life, which is </span><span class=\"f charStyle-c1b8f9f6 ps8945\">3 years</span> for software.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-552": {
   "value": "<div class=\"ps8938 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Accounting policies<span id=\"i65d000fd33794c69802776ec533f71cd\"></span></span></div><div class=\"ps6980 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Goodwill is tested for impairment at least once a year or sooner if an impairment indication arises. </span></div><div class=\"ps6981 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Impairment testing is performed for each CGU to which goodwill is allocated, as determined by </span></div><div class=\"ps8939 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Management.</span></div><div class=\"ps8940 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">If the carrying amount of intangible assets exceeds the recoverable amount, an impairment will be </span></div><div class=\"ps8941 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">recognised in the statement of profit and loss. Any impairment of goodwill impairment losses cannot be </span></div><div class=\"ps5066 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">reversed subsequently.</span></div><div class=\"ps8942 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Intangible assets, such as software, are recognised at cost less accumulated depreciation and accumulated </span></div><div class=\"ps8943 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">impairment losses. The cost of an intangible asset initially recognised includes its purchase price and any </span></div><div class=\"ps8944 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">directly attributable costs necessary to prepare the asset for its intended use. Depreciation is calculated on a </span></div><div class=\"ps8947 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">straight-line basis over the estimated useful life, which is </span><span class=\"f charStyle-c1b8f9f6 ps8945\">3 years</span><span class=\"f charStyle-c1b8f9f6 ps8946\"> for software. </span></div><div class=\"ps9335 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies<span id=\"i0ddbd7e4d5ee4f2694b6407c8d48253e\"></span></span></div><div class=\"ps7317 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Property, plant and equipment are recognised at cost less accumulated depreciation and accumulated </span></div><div class=\"ps8865 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">impairment losses.</span></div><div class=\"ps6966 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The cost of an item of property, plant and equipment initially recognised includes its purchase price and any </span></div><div class=\"ps6967 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">costs that are directly attributable to bringing the asset to the location and condition necessary for it to be </span></div><div class=\"ps6970 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">capable of operating in the manner intended by management.</span></div><div class=\"ps6971 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Subsequent expenditure relating to property, plant and equipment that has already been recognised is </span></div><div class=\"ps7347 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">added to the carrying amount of the asset only when it is probable that future economic benefits associated </span></div><div class=\"ps9336 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">with the item will flow to the Group and the cost of the item can be measured reliably. All other repair and </span></div><div class=\"ps9337 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">maintenance expenses are recognised in profit or loss as incurred.</span></div><div class=\"ps9339 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">To maintain operational capability, the vessels are required to undergo dry-docking procedures every </span><span class=\"f charStyle-c1b8f9f6 ps9338\">five </span></div><div class=\"ps9340 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">years</span><span class=\"f charStyle-c1b8f9f6 ps8104\">. The costs of the dry-docking procedures are capitalised at cost, including any costs that are directly </span></div><div class=\"ps9341 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">attributable to bringing the vessels to the location and condition necessary for the dry-docking procedures.</span></div><div class=\"ps8937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Depreciation is calculated using the straight-line method to allocate their depreciable amounts over the </span></div><div class=\"ps9343 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">assets\u2019 estimated useful life. </span><span class=\"f charStyle-c1b8f9f6 ps9342\">The estimated useful lives are as follows:</span></div><div class=\"ps9351 ss0\"><div class=\"ss177 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:242.25pt\"></td><td style=\"padding:0;width:174.75pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #000000;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #000;padding:0\"><div class=\"ps8576 ss689\"><div><div class=\"ps44 ss688\"><span class=\"f charStyle-a2ac8934 ps42\">Useful life<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"background-color:#ffffff;border-top:1pt solid #000000;padding:0\"><div class=\"ps46 ss690\"><div><div class=\"ps751 ss657\"><span class=\"f charStyle-2b5af115 ps42\">Vessels and furnished equipment<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:1pt solid #000;padding:0\"><div class=\"ps9345 ss691\"><div><div class=\"ps751 ss688\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps42\">Up to </span><span class=\"f charStyle-1770e19e ps9344\">25 years</span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps5635 ss690\"><div><div class=\"ps751 ss657\"><span class=\"f charStyle-2b5af115 ps42\">Drydock<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9346 ss691\"><div><div class=\"ps751 ss688\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps42\">5 years</span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps2250 ss690\"><div><div class=\"ps751 ss657\"><span class=\"f charStyle-2b5af115 ps42\">Cars<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps9347 ss691\"><div><div class=\"ps751 ss688\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps42\">5 years</span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps5516 ss690\"><div><div class=\"ps751 ss657\"><span class=\"f charStyle-2b5af115 ps42\">Other fixtures and fittings<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9350 ss691\"><div><div class=\"ps751 ss688\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps42\">2</span><span class=\"f charStyle-1770e19e ps9348\"> to </span><span class=\"f charStyle-1770e19e ps9349\">3 years</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6983 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The estimated useful life of the vessels of up to </span><span class=\"f charStyle-c1b8f9f6 ps9352\">25 years</span><span class=\"f charStyle-c1b8f9f6 ps9353\"> has been determined by an external consultant </span></div><div class=\"ps9283 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">through a fatigue analysis based on the technical specification of the vessels, whereas for Wind Peak, the </span></div><div class=\"ps9289 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">estimated useful life has been determined based on an internal technical analysis, validated by an external </span></div><div class=\"ps9294 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">expert. The estimated useful life of these vessels depends on the initial delivery date. </span></div><div class=\"ps2983 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Prior to their acquisition, Wind Orca and Wind Osprey, had already been in use for </span><span class=\"f charStyle-c1b8f9f6 ps9354\">eight years</span><span class=\"f charStyle-c1b8f9f6 ps9355\">, therefore the </span></div><div class=\"ps2984 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">remaining useful life of these vessels is estimated at </span><span class=\"f charStyle-c1b8f9f6 ps9356\">17 years</span><span class=\"f charStyle-c1b8f9f6 ps9357\"> for all components except for the jacking </span></div><div class=\"ps2985 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">system and the main crane, which have a remaining useful life of </span><span class=\"f charStyle-c1b8f9f6 ps9358\">three years</span><span class=\"f charStyle-c1b8f9f6 ps9359\"> from the acquisition date. For </span></div><div class=\"ps3304 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Wind Scylla and Wind Zaratan, the remaining useful lives at the acquisition date were assessed to be </span><span class=\"f charStyle-c1b8f9f6 ps9360\">17</span><span class=\"f charStyle-c1b8f9f6 ps9361\"> and </span></div><div class=\"ps3305 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">14 years</span><span class=\"f charStyle-c1b8f9f6 ps9362\"> respectively, and all components are assigned the same useful life. Hull and steel components have </span></div><div class=\"ps3306 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">a salvage value of up to</span><span class=\"f charStyle-c1b8f9f6 ps9363\"> </span><span class=\"f charStyle-c1b8f9f6 ps9364\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9365\"> </span><span class=\"f charStyle-c1b8f9f6 ps9366\">15\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9367\"> per vessel at the end of their useful lives. Both the salvage value and </span></div><div class=\"ps3307 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">the residual value are estimated as the lightweight tonnage of each vessel multiplied by the scrap value per </span></div><div class=\"ps3308 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">tonne. Depreciation is based on costs less the estimated residual value.</span></div><div class=\"ps3111 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Further information is provided in Note 2.4, Material accounting judgements, estimates and assumptions, in </span></div><div class=\"ps3112 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">relation to vessels acquired through the business combination.</span></div><div class=\"ps3119 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The residual value, useful life, and methods of depreciation of property, plant, and equipment are reviewed </span></div><div class=\"ps3120 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">at each financial year end and adjusted accordingly, if appropriate.</span></div><div class=\"ps9373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Impairment of non-financial assets <span id=\"ied66e0bde3da4c348bdf3ba8c64c7cb7\"></span></span></div><div class=\"ps9374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Property, plant and equipment and right-of-use assets are tested for impairment whenever there is </span></div><div class=\"ps9375 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">objective evidence or an indication that these assets may be impaired. Refer to note 12 for further </span></div><div class=\"ps7926 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">information impairment testing.</span></div><div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Accounting policies<span id=\"i5b93fa0e4eeb499581f0d02dbf58f2fb\"></span></span></div><div class=\"ps8664 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Right-of-Use Assets <span id=\"if3e7eb2c164547ba99ae198c39355d35\"></span></span></div><div class=\"ps8665 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The Group recognises a right-of-use asset and lease liability at the date on which the underlying asset is </span></div><div class=\"ps8666 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">made available for use. Right-of-use assets are measured at cost, which comprises the initial measurement </span></div><div class=\"ps8667 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">of the lease liability using an incremental borrowing rate adjusted for any lease payments made at or before </span></div><div class=\"ps8668 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">the commencement date and any lease incentives received. Any initial direct costs that would not have been </span></div><div class=\"ps8689 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">incurred if the lease had not been obtained are included in to the carrying amount of the right-of-use </span></div><div class=\"ps9618 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">assets.</span></div><div class=\"ps8671 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The right-of-use asset is subsequently measured at cost, less any accumulated depreciation and impairment </span></div><div class=\"ps8672 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">losses, and adjusted for any remeasurement of the lease liability.</span></div><div class=\"ps3191 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Right-of-use assets are depreciated on a straight-line basis over the lease term.</span></div><div class=\"ps9619 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Right-of-use assets are tested for impairment whenever there is objective evidence or an indication that </span></div><div class=\"ps9620 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">these assets may be impaired. For further information regarding impairment testing. please refer to Note 13.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-551": {
   "value": "<div class=\"ps8938 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Accounting policies<span id=\"i65d000fd33794c69802776ec533f71cd\"></span></span></div><div class=\"ps6980 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Goodwill is tested for impairment at least once a year or sooner if an impairment indication arises. </span></div><div class=\"ps6981 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Impairment testing is performed for each CGU to which goodwill is allocated, as determined by </span></div><div class=\"ps8939 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Management.</span></div><div class=\"ps8940 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">If the carrying amount of intangible assets exceeds the recoverable amount, an impairment will be </span></div><div class=\"ps8941 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">recognised in the statement of profit and loss. Any impairment of goodwill impairment losses cannot be </span></div><div class=\"ps5066 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">reversed subsequently.</span></div><div class=\"ps8942 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Intangible assets, such as software, are recognised at cost less accumulated depreciation and accumulated </span></div><div class=\"ps8943 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">impairment losses. The cost of an intangible asset initially recognised includes its purchase price and any </span></div><div class=\"ps8944 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">directly attributable costs necessary to prepare the asset for its intended use. Depreciation is calculated on a </span></div><div class=\"ps8947 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">straight-line basis over the estimated useful life, which is </span><span class=\"f charStyle-c1b8f9f6 ps8945\">3 years</span><span class=\"f charStyle-c1b8f9f6 ps8946\"> for software. </span></div><div class=\"ps9335 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies<span id=\"i0ddbd7e4d5ee4f2694b6407c8d48253e\"></span></span></div><div class=\"ps7317 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Property, plant and equipment are recognised at cost less accumulated depreciation and accumulated </span></div><div class=\"ps8865 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">impairment losses.</span></div><div class=\"ps6966 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The cost of an item of property, plant and equipment initially recognised includes its purchase price and any </span></div><div class=\"ps6967 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">costs that are directly attributable to bringing the asset to the location and condition necessary for it to be </span></div><div class=\"ps6970 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">capable of operating in the manner intended by management.</span></div><div class=\"ps6971 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Subsequent expenditure relating to property, plant and equipment that has already been recognised is </span></div><div class=\"ps7347 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">added to the carrying amount of the asset only when it is probable that future economic benefits associated </span></div><div class=\"ps9336 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">with the item will flow to the Group and the cost of the item can be measured reliably. All other repair and </span></div><div class=\"ps9337 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">maintenance expenses are recognised in profit or loss as incurred.</span></div><div class=\"ps9339 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">To maintain operational capability, the vessels are required to undergo dry-docking procedures every </span><span class=\"f charStyle-c1b8f9f6 ps9338\">five </span></div><div class=\"ps9340 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">years</span><span class=\"f charStyle-c1b8f9f6 ps8104\">. The costs of the dry-docking procedures are capitalised at cost, including any costs that are directly </span></div><div class=\"ps9341 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">attributable to bringing the vessels to the location and condition necessary for the dry-docking procedures.</span></div><div class=\"ps8937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Depreciation is calculated using the straight-line method to allocate their depreciable amounts over the </span></div><div class=\"ps9343 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">assets\u2019 estimated useful life. </span><span class=\"f charStyle-c1b8f9f6 ps9342\">The estimated useful lives are as follows:</span></div><div class=\"ps9351 ss0\"><div class=\"ss177 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:242.25pt\"></td><td style=\"padding:0;width:174.75pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #000000;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #000;padding:0\"><div class=\"ps8576 ss689\"><div><div class=\"ps44 ss688\"><span class=\"f charStyle-a2ac8934 ps42\">Useful life<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"background-color:#ffffff;border-top:1pt solid #000000;padding:0\"><div class=\"ps46 ss690\"><div><div class=\"ps751 ss657\"><span class=\"f charStyle-2b5af115 ps42\">Vessels and furnished equipment<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:1pt solid #000;padding:0\"><div class=\"ps9345 ss691\"><div><div class=\"ps751 ss688\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps42\">Up to </span><span class=\"f charStyle-1770e19e ps9344\">25 years</span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps5635 ss690\"><div><div class=\"ps751 ss657\"><span class=\"f charStyle-2b5af115 ps42\">Drydock<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9346 ss691\"><div><div class=\"ps751 ss688\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps42\">5 years</span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps2250 ss690\"><div><div class=\"ps751 ss657\"><span class=\"f charStyle-2b5af115 ps42\">Cars<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps9347 ss691\"><div><div class=\"ps751 ss688\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps42\">5 years</span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps5516 ss690\"><div><div class=\"ps751 ss657\"><span class=\"f charStyle-2b5af115 ps42\">Other fixtures and fittings<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9350 ss691\"><div><div class=\"ps751 ss688\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps42\">2</span><span class=\"f charStyle-1770e19e ps9348\"> to </span><span class=\"f charStyle-1770e19e ps9349\">3 years</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6983 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The estimated useful life of the vessels of up to </span><span class=\"f charStyle-c1b8f9f6 ps9352\">25 years</span><span class=\"f charStyle-c1b8f9f6 ps9353\"> has been determined by an external consultant </span></div><div class=\"ps9283 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">through a fatigue analysis based on the technical specification of the vessels, whereas for Wind Peak, the </span></div><div class=\"ps9289 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">estimated useful life has been determined based on an internal technical analysis, validated by an external </span></div><div class=\"ps9294 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">expert. The estimated useful life of these vessels depends on the initial delivery date. </span></div><div class=\"ps2983 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Prior to their acquisition, Wind Orca and Wind Osprey, had already been in use for </span><span class=\"f charStyle-c1b8f9f6 ps9354\">eight years</span><span class=\"f charStyle-c1b8f9f6 ps9355\">, therefore the </span></div><div class=\"ps2984 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">remaining useful life of these vessels is estimated at </span><span class=\"f charStyle-c1b8f9f6 ps9356\">17 years</span><span class=\"f charStyle-c1b8f9f6 ps9357\"> for all components except for the jacking </span></div><div class=\"ps2985 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">system and the main crane, which have a remaining useful life of </span><span class=\"f charStyle-c1b8f9f6 ps9358\">three years</span><span class=\"f charStyle-c1b8f9f6 ps9359\"> from the acquisition date. For </span></div><div class=\"ps3304 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Wind Scylla and Wind Zaratan, the remaining useful lives at the acquisition date were assessed to be </span><span class=\"f charStyle-c1b8f9f6 ps9360\">17</span><span class=\"f charStyle-c1b8f9f6 ps9361\"> and </span></div><div class=\"ps3305 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">14 years</span><span class=\"f charStyle-c1b8f9f6 ps9362\"> respectively, and all components are assigned the same useful life. Hull and steel components have </span></div><div class=\"ps3306 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">a salvage value of up to</span><span class=\"f charStyle-c1b8f9f6 ps9363\"> </span><span class=\"f charStyle-c1b8f9f6 ps9364\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9365\"> </span><span class=\"f charStyle-c1b8f9f6 ps9366\">15\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9367\"> per vessel at the end of their useful lives. Both the salvage value and </span></div><div class=\"ps3307 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">the residual value are estimated as the lightweight tonnage of each vessel multiplied by the scrap value per </span></div><div class=\"ps3308 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">tonne. Depreciation is based on costs less the estimated residual value.</span></div><div class=\"ps3111 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Further information is provided in Note 2.4, Material accounting judgements, estimates and assumptions, in </span></div><div class=\"ps3112 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">relation to vessels acquired through the business combination.</span></div><div class=\"ps3119 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The residual value, useful life, and methods of depreciation of property, plant, and equipment are reviewed </span></div><div class=\"ps3120 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">at each financial year end and adjusted accordingly, if appropriate.</span></div><div class=\"ps9373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Impairment of non-financial assets <span id=\"ied66e0bde3da4c348bdf3ba8c64c7cb7\"></span></span></div><div class=\"ps9374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Property, plant and equipment and right-of-use assets are tested for impairment whenever there is </span></div><div class=\"ps9375 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">objective evidence or an indication that these assets may be impaired. Refer to note 12 for further </span></div><div class=\"ps7926 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">information impairment testing.</span></div><div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Accounting policies<span id=\"i5b93fa0e4eeb499581f0d02dbf58f2fb\"></span></span></div><div class=\"ps8664 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Right-of-Use Assets <span id=\"if3e7eb2c164547ba99ae198c39355d35\"></span></span></div><div class=\"ps8665 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The Group recognises a right-of-use asset and lease liability at the date on which the underlying asset is </span></div><div class=\"ps8666 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">made available for use. Right-of-use assets are measured at cost, which comprises the initial measurement </span></div><div class=\"ps8667 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">of the lease liability using an incremental borrowing rate adjusted for any lease payments made at or before </span></div><div class=\"ps8668 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">the commencement date and any lease incentives received. Any initial direct costs that would not have been </span></div><div class=\"ps8689 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">incurred if the lease had not been obtained are included in to the carrying amount of the right-of-use </span></div><div class=\"ps9618 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">assets.</span></div><div class=\"ps8671 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The right-of-use asset is subsequently measured at cost, less any accumulated depreciation and impairment </span></div><div class=\"ps8672 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">losses, and adjusted for any remeasurement of the lease liability.</span></div><div class=\"ps3191 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Right-of-use assets are depreciated on a straight-line basis over the lease term.</span></div><div class=\"ps9619 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Right-of-use assets are tested for impairment whenever there is objective evidence or an indication that </span></div><div class=\"ps9620 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">these assets may be impaired. For further information regarding impairment testing. please refer to Note 13.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-553": {
   "value": "<div><div id=\"i60a9312555114c61b3ebee7078e135c5_2512\" style=\"position:absolute;top:42.52pt\"></div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 13</span></div><div class=\"ps8952 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Property, Plant and Equipment<span id=\"ied4456ff49794ff3861be233ee7ad17a\"></span></span></div><div class=\"ps9040 ss0\"><div class=\"ss644 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:206.25pt\"></td><td style=\"padding:0;width:131.25pt\"></td><td style=\"padding:0;width:131.25pt\"></td><td style=\"padding:0;width:131.25pt\"></td><td style=\"padding:0;width:131.25pt\"></td><td style=\"padding:0;width:131.25pt\"></td></tr><tr style=\"height:32.25pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss678\"><div><div class=\"ps8954 ss677\"><span class=\"f charStyle-4979afbe ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8956 ss680\"><div><div class=\"ps5573 ss679\"><span class=\"f charStyle-281247bf ps8955\">Vessels<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8958 ss680\"><div><div class=\"ps5573 ss679\"><span class=\"f charStyle-281247bf ps8957\">Dry dock<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8960 ss680\"><div><div class=\"ps5573 ss679\"><span class=\"f charStyle-281247bf ps8959\">Other fixtures and fittings<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8962 ss680\"><div><div class=\"ps5573 ss679\"><span class=\"f charStyle-281247bf ps8961\">Assets under construction<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8964 ss680\"><div><div class=\"ps5573 ss679\"><span class=\"f charStyle-281247bf ps8963\">Total<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8878 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-b07b4361 ps42\">Cost 2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps8888 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-1bac868e ps42\">Beginning of financial year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8966 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:84.37pt\"></span></span><span class=\"ps8965\">1,056,664</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8968 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8967\">17,644</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8969 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8967\">13,513</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8971 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8970\">736,610</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8972 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:84.37pt\"></span></span><span class=\"ps8965\">1,824,431</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps7792 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-1bac868e ps42\">Additions<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8973 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8967\">71,255</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8975 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:107.67pt\"></span></span><span class=\"ps8974\">843</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8977 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8976\">3,661</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8978 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:84.37pt\"></span></span><span class=\"ps8965\">1,254,658</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8979 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:84.37pt\"></span></span><span class=\"ps8965\">1,330,417</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps2262 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-1bac868e ps42\">Transfer from assets under construction<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8980 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:84.37pt\"></span></span><span class=\"ps8965\">1,381,140</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8981 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8967\">20,423</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8983 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:90.6pt\"></span></span><span class=\"ps8982\">(10,371)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8985 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:78.95pt\"></span></span><span class=\"ps8984\">(1,391,192)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8987 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5209 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-1bac868e ps42\">Disposals<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8988 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8989 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8991 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:102.25pt\"></span></span><span class=\"ps8990\">(124)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8992 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8993 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:102.25pt\"></span></span><span class=\"ps8990\">(124)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps7381 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-1bac868e ps42\">Exchange differences<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8994 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8995 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8996 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8997 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8998 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5684 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-23b55a92 ps42\">31 December 2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9000 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:81.17pt\"></span></span><span class=\"ps8999\">2,509,059</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9002 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:93.94pt\"></span></span><span class=\"ps9001\">38,910</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9003 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:99.11pt\"></span></span><span class=\"ps5269\">6,679</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9005 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9004\">600,076</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9006 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:81.17pt\"></span></span><span class=\"ps8999\">3,154,724</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9007 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-b07b4361 ps42\">Accumulated depreciation and impairment<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps9008 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-1bac868e ps42\">Beginning of financial year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9009 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8970\">104,119</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9010 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8976\">6,541</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9011 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8976\">1,505</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9012 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9013 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8970\">112,165</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps6590 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-1bac868e ps42\">Depreciation charge<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9014 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8967\">97,614</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9015 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8976\">6,425</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9016 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8976\">1,582</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9017 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9018 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8970\">105,621</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps529 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-1bac868e ps42\">Disposals<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9019 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9020 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9021 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:102.25pt\"></span></span><span class=\"ps8990\">(123)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9022 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9023 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:102.25pt\"></span></span><span class=\"ps8990\">(123)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps4837 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-1bac868e ps42\">Exchange differences<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9024 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9025 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9026 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9027 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9028 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"background-color:#206079;padding:0\"><div class=\"ps1875 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-23b55a92 ps42\">31 December 2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9029 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9004\">201,733</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9030 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:93.94pt\"></span></span><span class=\"ps9001\">12,966</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9031 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:99.11pt\"></span></span><span class=\"ps5269\">2,964</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9032 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9033 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9004\">217,663</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9034 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-b07b4361 ps42\">Net book value<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9035 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:81.17pt\"></span></span><span class=\"ps8999\">2,307,326</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9036 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:93.94pt\"></span></span><span class=\"ps9001\">25,944</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9037 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:99.11pt\"></span></span><span class=\"ps5269\">3,715</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9038 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9004\">600,076</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9039 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:81.17pt\"></span></span><span class=\"ps8999\">2,937,061</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps9047 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Additions during </span><span class=\"f charStyle-c1b8f9f6 ps9041\">2025</span><span class=\"f charStyle-c1b8f9f6 ps9042\"> are mainly driven by newbuild vessels of P-class vessels of </span><span class=\"f charStyle-c1b8f9f6 ps9043\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9044\"> </span><span class=\"f charStyle-c1b8f9f6 ps9045\">199</span><span class=\"f charStyle-c1b8f9f6 ps9046\"> million, newbuild </span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">A-class vessels of EUR </span><span class=\"f charStyle-c1b8f9f6 ps9048\">385</span><span class=\"f charStyle-c1b8f9f6 ps9049\"> million, newbuild M-class vessels of EUR </span><span class=\"f charStyle-c1b8f9f6 ps9050\">436</span><span class=\"f charStyle-c1b8f9f6 ps9051\"> million, and vessel upgrades of</span><span class=\"f charStyle-c1b8f9f6 ps9052\"> </span><span class=\"f charStyle-c1b8f9f6 ps9053\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9054\"> </span></div><div class=\"ps9060 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">48</span><span class=\"f charStyle-c1b8f9f6 ps9056\"> million</span><span class=\"f charStyle-c1b8f9f6 ps9057\">. In </span><span class=\"f charStyle-c1b8f9f6 ps9058\">2025</span><span class=\"f charStyle-c1b8f9f6 ps9059\">, Wind Pace, Wind Mover, Wind Maker and Wind Ally vessels were delivered and </span></div><div class=\"ps9062 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">transferred from asset under construc</span><span class=\"f charStyle-c1b8f9f6 ps9061\">tion to vessels.</span></div><div class=\"ps9047 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Borrowing costs (including cash and non-cash items) for </span><span class=\"f charStyle-c1b8f9f6 ps9063\">2025</span><span class=\"f charStyle-c1b8f9f6 ps9064\"> have been capitalised in a total amount of </span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9065\"> </span><span class=\"f charStyle-c1b8f9f6 ps9066\">53.9\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9067\"> (</span><span class=\"f charStyle-c1b8f9f6 ps9068\">2024</span><span class=\"f charStyle-c1b8f9f6 ps9069\">: </span><span class=\"f charStyle-c1b8f9f6 ps9070\">19.7\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9071\">; </span><span class=\"f charStyle-c1b8f9f6 ps9072\">2023</span><span class=\"f charStyle-c1b8f9f6 ps9073\">: </span><span class=\"f charStyle-c1b8f9f6 ps9074\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9075\"> </span><span class=\"f charStyle-c1b8f9f6 ps9076\">7.1\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9077\">). The capitalisation rate used to determine the </span></div><div class=\"ps9060 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">amount of borrowing costs to be capitalised is the weighted average interest rate applicable to the </span></div><div class=\"ps9062 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Company\u2019s general borrowings during the reporting period, being </span><span class=\"f charStyle-c1b8f9f6 ps9078\">6.05%</span><span class=\"f charStyle-c1b8f9f6 ps9079\"> </span><span class=\"f charStyle-c1b8f9f6 ps9080\">(</span><span class=\"f charStyle-c1b8f9f6 ps9081\">2024</span><span class=\"f charStyle-c1b8f9f6 ps9082\">: </span><span class=\"f charStyle-c1b8f9f6 ps9083\">7.6%</span><span class=\"f charStyle-c1b8f9f6 ps9084\">; </span><span class=\"f charStyle-c1b8f9f6 ps9085\">2023</span><span class=\"f charStyle-c1b8f9f6 ps9086\">: </span><span class=\"f charStyle-c1b8f9f6 ps9087\">5.5%</span><span class=\"f charStyle-c1b8f9f6 ps9088\">). </span></div></div><div class=\"ps7498 ss0\"><div class=\"ss644 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:206.25pt\"></td><td style=\"padding:0;width:131.25pt\"></td><td style=\"padding:0;width:131.25pt\"></td><td style=\"padding:0;width:131.25pt\"></td><td style=\"padding:0;width:131.25pt\"></td><td style=\"padding:0;width:131.25pt\"></td></tr><tr style=\"height:32.25pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss678\"><div><div class=\"ps8954 ss677\"><span class=\"f charStyle-4979afbe ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8956 ss680\"><div><div class=\"ps5573 ss679\"><span class=\"f charStyle-281247bf ps8955\">Vessels<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8958 ss680\"><div><div class=\"ps5573 ss679\"><span class=\"f charStyle-281247bf ps8957\">Dry dock<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8960 ss680\"><div><div class=\"ps5573 ss679\"><span class=\"f charStyle-281247bf ps8959\">Other fixtures and fittings<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8962 ss680\"><div><div class=\"ps5573 ss679\"><span class=\"f charStyle-281247bf ps8961\">Assets under construction<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8964 ss680\"><div><div class=\"ps5573 ss679\"><span class=\"f charStyle-281247bf ps8963\">Total<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8878 ss683\"><div><div class=\"ps744 ss677\"><span class=\"f charStyle-b07b4361 ps42\">Cost 2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps2154 ss683\"><div><div class=\"ps744 ss677\"><span class=\"f charStyle-1bac868e ps633\">Beginning of financial year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9089 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8970\">566,360</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9090 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8976\">9,135</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9091 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:107.67pt\"></span></span><span class=\"ps8974\">979</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9092 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8970\">571,745</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9093 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:84.37pt\"></span></span><span class=\"ps8965\">1,148,219</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps5193 ss683\"><div><div class=\"ps744 ss677\"><span class=\"f charStyle-1bac868e ps633\">Additions<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9094 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8976\">8,029</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9095 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8976\">4,377</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9096 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8967\">12,680</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9097 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8970\">624,679</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9098 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8970\">649,765</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps4113 ss683\"><div><div class=\"ps744 ss677\"><span class=\"f charStyle-1bac868e ps633\">Transfer from assets under construction<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9099 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8970\">468,678</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9100 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8976\">4,000</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9101 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9103 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:85.75pt\"></span></span><span class=\"ps9102\">(472,678)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9104 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps1811 ss683\"><div><div class=\"ps744 ss677\"><span class=\"f charStyle-1bac868e ps633\">Disposals<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9106 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:95.45pt\"></span></span><span class=\"ps9105\">(5,146)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9107 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9108 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:102.25pt\"></span></span><span class=\"ps8990\">(306)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9109 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9110 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:95.45pt\"></span></span><span class=\"ps9105\">(5,452)</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps2140 ss683\"><div><div class=\"ps744 ss677\"><span class=\"f charStyle-1bac868e ps633\">Exchange differences<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9111 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8967\">18,743</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9112 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:107.67pt\"></span></span><span class=\"ps8974\">132</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9113 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:107.67pt\"></span></span><span class=\"ps8974\">160</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9114 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8967\">12,864</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9115 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8967\">31,899</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2269 ss683\"><div><div class=\"ps744 ss677\"><span class=\"f charStyle-23b55a92 ps42\">31 December 2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9116 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:81.17pt\"></span></span><span class=\"ps8999\">1,056,664</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9117 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:93.94pt\"></span></span><span class=\"ps9001\">17,644</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9118 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:93.94pt\"></span></span><span class=\"ps9001\">13,513</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9119 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9004\">736,610</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9120 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:81.17pt\"></span></span><span class=\"ps8999\">1,824,431</span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps6347 ss685\"><div><div class=\"ps2173 ss677\"><span class=\"f charStyle-b07b4361 ps42\">Accumulated depreciation and impairment<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps9121 ss683\"><div><div class=\"ps744 ss677\"><span class=\"f charStyle-1bac868e ps633\">Beginning of financial year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9122 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8967\">58,727</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9123 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8976\">3,548</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9124 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:107.67pt\"></span></span><span class=\"ps8974\">312</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9125 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9126 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8967\">62,587</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps5534 ss683\"><div><div class=\"ps744 ss677\"><span class=\"f charStyle-1bac868e ps633\">Depreciation charge<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9127 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8967\">50,571</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9128 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8976\">3,125</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9129 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8976\">1,166</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9130 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9131 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8967\">54,862</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps5702 ss683\"><div><div class=\"ps744 ss677\"><span class=\"f charStyle-1bac868e ps633\">Disposals<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9132 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:95.45pt\"></span></span><span class=\"ps9105\">(5,000)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9133 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9134 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:102.25pt\"></span></span><span class=\"ps8990\">(306)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9135 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9136 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:95.45pt\"></span></span><span class=\"ps9105\">(5,306)</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps798 ss683\"><div><div class=\"ps744 ss677\"><span class=\"f charStyle-1bac868e ps633\">Impairment on disposal<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9137 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9138 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9139 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9140 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9141 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps6831 ss683\"><div><div class=\"ps744 ss677\"><span class=\"f charStyle-1bac868e ps633\">Exchange differences<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9142 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:102.25pt\"></span></span><span class=\"ps8990\">(179)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9143 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:102.25pt\"></span></span><span class=\"ps8990\">(132)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9144 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:107.67pt\"></span></span><span class=\"ps8974\">333</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9145 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9147 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:112.52pt\"></span></span><span class=\"ps9146\">22</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps4631 ss683\"><div><div class=\"ps744 ss677\"><span class=\"f charStyle-23b55a92 ps42\">31 December 2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9148 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9004\">104,119</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9149 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:99.11pt\"></span></span><span class=\"ps5269\">6,541</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9150 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:99.11pt\"></span></span><span class=\"ps5269\">1,505</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9151 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9152 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9004\">112,165</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9153 ss683\"><div><div class=\"ps744 ss677\"><span class=\"f charStyle-b07b4361 ps42\">Net book value<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9154 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9004\">952,545</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9155 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:93.94pt\"></span></span><span class=\"ps9001\">11,103</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9156 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:93.94pt\"></span></span><span class=\"ps9001\">12,008</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9157 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9004\">736,610</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9158 ss684\"><div><div class=\"ps744 ss679\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:81.17pt\"></span></span><span class=\"ps8999\">1,712,266</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps9165 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Additions during </span><span class=\"f charStyle-c1b8f9f6 ps9041\">2024</span><span class=\"f charStyle-c1b8f9f6 ps9160\"> are mainly driven by newbuild P-class vessels of </span><span class=\"f charStyle-c1b8f9f6 ps9161\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9162\"> </span><span class=\"f charStyle-c1b8f9f6 ps9163\">290\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9164\">, newbuild A-class </span></div><div class=\"ps9176 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">vessels of </span><span class=\"f charStyle-c1b8f9f6 ps9166\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9167\"> </span><span class=\"f charStyle-c1b8f9f6 ps9168\">114\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9169\">, newbuild M-class vessels of </span><span class=\"f charStyle-c1b8f9f6 ps9170\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9171\"> </span><span class=\"f charStyle-c1b8f9f6 ps9172\">103\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9173\">, O-class main crane upgrades of </span><span class=\"f charStyle-c1b8f9f6 ps9174\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9175\"> </span></div><div class=\"ps9184 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">62\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9177\">, and vessel upgrades of </span><span class=\"f charStyle-c1b8f9f6 ps9178\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9179\"> </span><span class=\"f charStyle-c1b8f9f6 ps9180\">54\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9181\">. In </span><span class=\"f charStyle-c1b8f9f6 ps9182\">2024</span><span class=\"f charStyle-c1b8f9f6 ps9183\">, Wind Peak vessel was delivered and transferred </span></div><div class=\"ps9185 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">from asset under construction to vessels.</span></div><div class=\"ps9165 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Borrowing costs for </span><span class=\"f charStyle-c1b8f9f6 ps9187\">2024</span><span class=\"f charStyle-c1b8f9f6 ps9188\"> have been capitalised for a total of </span><span class=\"f charStyle-c1b8f9f6 ps9189\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9190\"> </span><span class=\"f charStyle-c1b8f9f6 ps9191\">19.7\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9192\"> (</span><span class=\"f charStyle-c1b8f9f6 ps9193\">2023</span><span class=\"f charStyle-c1b8f9f6 ps9194\">: </span><span class=\"f charStyle-c1b8f9f6 ps9195\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9196\"> </span><span class=\"f charStyle-c1b8f9f6 ps9197\">7.1\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9198\">). The </span></div><div class=\"ps9176 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">capitalisation rate used to determine the amount of borrowing costs to be capitalised is the weighted </span></div><div class=\"ps9184 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">average interest rate applicable to the Company\u2019s general borrowings during the reporting period, being </span></div><div class=\"ps9185 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">7.6%</span><span class=\"f charStyle-c1b8f9f6 ps9199\"> (</span><span class=\"f charStyle-c1b8f9f6 ps9200\">2023</span><span class=\"f charStyle-c1b8f9f6 ps9201\">: </span><span class=\"f charStyle-c1b8f9f6 ps9202\">5.5%</span><span class=\"f charStyle-c1b8f9f6 ps9203\">). </span></div><div class=\"ps9276 ss0\"><div class=\"ss644 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:206.25pt\"></td><td style=\"padding:0;width:131.25pt\"></td><td style=\"padding:0;width:131.25pt\"></td><td style=\"padding:0;width:131.25pt\"></td><td style=\"padding:0;width:131.25pt\"></td><td style=\"padding:0;width:131.25pt\"></td></tr><tr style=\"height:29.25pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss686\"><div><div class=\"ps9204 ss677\"><span class=\"f charStyle-4979afbe ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8956 ss687\"><div><div class=\"ps6886 ss679\"><span class=\"f charStyle-281247bf ps8955\">Vessels<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8958 ss687\"><div><div class=\"ps6886 ss679\"><span class=\"f charStyle-281247bf ps8957\">Dry dock<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8960 ss687\"><div><div class=\"ps6886 ss679\"><span class=\"f charStyle-281247bf ps8959\">Other fixtures and fittings<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8962 ss687\"><div><div class=\"ps6886 ss679\"><span class=\"f charStyle-281247bf ps8961\">Assets under construction<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8964 ss687\"><div><div class=\"ps6886 ss679\"><span class=\"f charStyle-281247bf ps8963\">Total<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps1027 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-b07b4361 ps42\">Cost 2023<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps7522 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-1bac868e ps633\">Beginning of financial year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9205 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8970\">282,282</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9206 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8976\">9,261</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9207 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:107.67pt\"></span></span><span class=\"ps8974\">536</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9208 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8970\">356,163</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9209 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8970\">648,242</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps9210 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-1bac868e ps633\">Acquisition of businesses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9211 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8970\">296,536</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9212 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:107.67pt\"></span></span><span class=\"ps8974\">171</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9213 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:107.67pt\"></span></span><span class=\"ps8974\">599</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9214 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8970\">144,219</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9215 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8970\">441,525</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps656 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-1bac868e ps633\">Additions<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9216 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:107.67pt\"></span></span><span class=\"ps8974\">227</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9217 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9219 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:117.37pt\"></span></span><span class=\"ps9218\">3</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9220 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8967\">73,169</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9221 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8967\">73,399</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps58 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-1bac868e ps633\">Disposals<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9222 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:95.45pt\"></span></span><span class=\"ps9105\">(8,002)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9223 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:102.25pt\"></span></span><span class=\"ps8990\">(291)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9224 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9225 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9226 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:95.45pt\"></span></span><span class=\"ps9105\">(8,293)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps6054 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-1bac868e ps633\">Exchange differences<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9227 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:95.45pt\"></span></span><span class=\"ps9105\">(4,683)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9229 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:111.95pt\"></span></span><span class=\"ps9228\">(6)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9230 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:102.25pt\"></span></span><span class=\"ps8990\">(159)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9231 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:95.45pt\"></span></span><span class=\"ps9105\">(1,806)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9232 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:95.45pt\"></span></span><span class=\"ps9105\">(6,654)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5582 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-23b55a92 ps42\">December 31, 2023<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9233 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9004\">566,360</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9234 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:99.11pt\"></span></span><span class=\"ps5269\">9,135</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9236 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:106.71pt\"></span></span><span class=\"ps9235\">979</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9237 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9004\">571,745</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9238 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:81.17pt\"></span></span><span class=\"ps8999\">1,148,219</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2211 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-b07b4361 ps42\">Accumulated depreciation and impairment<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps2215 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-1bac868e ps633\">Beginning of financial year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9239 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8967\">39,570</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9240 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8976\">2,023</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9241 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:107.67pt\"></span></span><span class=\"ps8974\">445</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9242 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9243 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8967\">42,038</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps3762 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-1bac868e ps633\">Depreciation charge<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9244 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8967\">20,847</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9245 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8976\">1,637</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9246 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:112.52pt\"></span></span><span class=\"ps9146\">19</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9247 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9248 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8967\">22,503</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps3768 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-1bac868e ps633\">Disposals<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9249 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:95.45pt\"></span></span><span class=\"ps9105\">(5,722)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9250 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:102.25pt\"></span></span><span class=\"ps8990\">(108)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9251 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9252 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9253 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:95.45pt\"></span></span><span class=\"ps9105\">(5,830)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5731 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-1bac868e ps633\">Impairment on disposal<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9254 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8976\">5,000</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9255 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9256 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9257 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9258 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8976\">5,000</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps6168 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-1bac868e ps633\">Exchange differences<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9259 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:102.25pt\"></span></span><span class=\"ps8990\">(968)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9260 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:111.95pt\"></span></span><span class=\"ps9228\">(4)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9261 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:102.25pt\"></span></span><span class=\"ps8990\">(152)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9262 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9263 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:95.45pt\"></span></span><span class=\"ps9105\">(1,124)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9264 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-23b55a92 ps42\">December 31, 2023<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9265 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:93.94pt\"></span></span><span class=\"ps9001\">58,727</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9266 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:99.11pt\"></span></span><span class=\"ps5269\">3,548</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9267 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:106.71pt\"></span></span><span class=\"ps9235\">312</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9268 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8986\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9269 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:93.94pt\"></span></span><span class=\"ps9001\">62,587</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9270 ss681\"><div><div class=\"ps438 ss677\"><span class=\"f charStyle-b07b4361 ps42\">Net book value<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9271 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9004\">507,633</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9272 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:99.11pt\"></span></span><span class=\"ps5269\">5,587</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9273 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:106.71pt\"></span></span><span class=\"ps9235\">667</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9274 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9004\">571,745</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9275 ss682\"><div><div class=\"ps438 ss679\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:81.17pt\"></span></span><span class=\"ps8999\">1,085,632</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 13</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Property, Plant and Equipment<span id=\"ic79b364bf8f54326951fd4a1af7bb83e\"></span></span></div><div class=\"ps6961 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-cd31f1a5 ps186\">Continued from previous page</span></div><div class=\"ps6983 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Due to the business combination with Eneti, the Group\u2019s property, plant, and equipment increased by </span><span class=\"f charStyle-c1b8f9f6 ps9278\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9279\"> </span></div><div class=\"ps9283 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">441.5\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9280\"> in </span><span class=\"f charStyle-c1b8f9f6 ps9281\">2023</span><span class=\"f charStyle-c1b8f9f6 ps9282\">. This increase primarily comprised the operating vessels Wind Scylla and Wind Zaratan </span></div><div class=\"ps9289 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(</span><span class=\"f charStyle-c1b8f9f6 ps832\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps833\"> </span><span class=\"f charStyle-c1b8f9f6 ps834\">206\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9284\"> and </span><span class=\"f charStyle-c1b8f9f6 ps9285\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9286\"> </span><span class=\"f charStyle-c1b8f9f6 ps9287\">87\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9288\">, respectively) as well as the newbuilds under construction, including the </span></div><div class=\"ps9294 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">M-class down payments for </span><span class=\"f charStyle-c1b8f9f6 ps9290\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9291\"> </span><span class=\"f charStyle-c1b8f9f6 ps9292\">144\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9293\">.</span></div><div class=\"ps2983 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Additions during </span><span class=\"f charStyle-c1b8f9f6 ps9041\">2023</span><span class=\"f charStyle-c1b8f9f6 ps9042\"> were mainly driven by down payments of </span><span class=\"f charStyle-c1b8f9f6 ps9295\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9296\"> </span><span class=\"f charStyle-c1b8f9f6 ps9297\">42\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9298\"> for new P-class installation </span></div><div class=\"ps2984 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">vessels (</span><span class=\"f charStyle-c1b8f9f6 ps9299\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8955\"> </span><span class=\"f charStyle-c1b8f9f6 ps9300\">15.4\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9301\">), the new A-class FIVs (foundation installation vessels) (</span><span class=\"f charStyle-c1b8f9f6 ps9302\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9303\"> </span><span class=\"f charStyle-c1b8f9f6 ps9304\">3.8\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9305\">) and </span></div><div class=\"ps2985 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">instalments for the main cranes for both Wind Orca (</span><span class=\"f charStyle-c1b8f9f6 ps9306\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9307\"> </span><span class=\"f charStyle-c1b8f9f6 ps9308\">16.0\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9309\">) and Wind Osprey (</span><span class=\"f charStyle-c1b8f9f6 ps9310\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9311\"> </span><span class=\"f charStyle-c1b8f9f6 ps9312\">6.8\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9313\">), as </span></div><div class=\"ps9316 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">presented above under assets under construction. In addition, assets under construction include </span><span class=\"f charStyle-c1b8f9f6 ps9314\">EUR</span><span class=\"f charStyle-58d8bcbe ps9315\"> </span></div><div class=\"ps8871 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">7.6\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9317\"> of guarantee fees to BW Group related to the A-class and P-class newbuild vessels as well as </span><span class=\"f charStyle-c1b8f9f6 ps9318\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9319\"> </span></div><div class=\"ps3334 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">5.7\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9317\"> of assets related to future projects that have not yet commenced.</span></div><div class=\"ps9326 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Borrowing costs for </span><span class=\"f charStyle-c1b8f9f6 ps9320\">2023</span><span class=\"f charStyle-c1b8f9f6 ps9321\"> were capitalised in a total amount of </span><span class=\"f charStyle-c1b8f9f6 ps9322\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9323\"> </span><span class=\"f charStyle-c1b8f9f6 ps9324\">7.1\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9325\">. The capitalisation rate used </span></div><div class=\"ps9327 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">to determine the amount of borrowing costs to be capitalised is the weighted average interest rate </span></div><div class=\"ps9330 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">applicable to the Company\u2019s general borrowings during the reporting period, being </span><span class=\"f charStyle-c1b8f9f6 ps9328\">5.5%</span><span class=\"f charStyle-c1b8f9f6 ps9329\">.</span></div><div class=\"ps9333 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Disposals during </span><span class=\"f charStyle-c1b8f9f6 ps9331\">2023</span><span class=\"f charStyle-c1b8f9f6 ps9332\"> were mainly driven by the main cranes upgraded on both O-class vessels, as well as </span></div><div class=\"ps9334 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">impairment recognised. For further details, please refer to Note 5.</span></div><div class=\"ps9335 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies<span id=\"i0ddbd7e4d5ee4f2694b6407c8d48253e\"></span></span></div><div class=\"ps7317 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Property, plant and equipment are recognised at cost less accumulated depreciation and accumulated </span></div><div class=\"ps8865 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">impairment losses.</span></div><div class=\"ps6966 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The cost of an item of property, plant and equipment initially recognised includes its purchase price and any </span></div><div class=\"ps6967 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">costs that are directly attributable to bringing the asset to the location and condition necessary for it to be </span></div><div class=\"ps6970 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">capable of operating in the manner intended by management.</span></div><div class=\"ps6971 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Subsequent expenditure relating to property, plant and equipment that has already been recognised is </span></div><div class=\"ps7347 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">added to the carrying amount of the asset only when it is probable that future economic benefits associated </span></div><div class=\"ps9336 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">with the item will flow to the Group and the cost of the item can be measured reliably. All other repair and </span></div><div class=\"ps9337 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">maintenance expenses are recognised in profit or loss as incurred.</span></div><div class=\"ps9339 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">To maintain operational capability, the vessels are required to undergo dry-docking procedures every </span><span class=\"f charStyle-c1b8f9f6 ps9338\">five </span></div><div class=\"ps9340 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">years</span><span class=\"f charStyle-c1b8f9f6 ps8104\">. The costs of the dry-docking procedures are capitalised at cost, including any costs that are directly </span></div><div class=\"ps9341 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">attributable to bringing the vessels to the location and condition necessary for the dry-docking procedures.</span></div><div class=\"ps8937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Depreciation is calculated using the straight-line method to allocate their depreciable amounts over the </span></div><div class=\"ps9343 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">assets\u2019 estimated useful life. </span><span class=\"f charStyle-c1b8f9f6 ps9342\">The estimated useful lives are as follows:</span></div><div class=\"ps9351 ss0\"><div class=\"ss177 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:242.25pt\"></td><td style=\"padding:0;width:174.75pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #000000;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #000;padding:0\"><div class=\"ps8576 ss689\"><div><div class=\"ps44 ss688\"><span class=\"f charStyle-a2ac8934 ps42\">Useful life<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"background-color:#ffffff;border-top:1pt solid #000000;padding:0\"><div class=\"ps46 ss690\"><div><div class=\"ps751 ss657\"><span class=\"f charStyle-2b5af115 ps42\">Vessels and furnished equipment<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:1pt solid #000;padding:0\"><div class=\"ps9345 ss691\"><div><div class=\"ps751 ss688\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps42\">Up to </span><span class=\"f charStyle-1770e19e ps9344\">25 years</span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps5635 ss690\"><div><div class=\"ps751 ss657\"><span class=\"f charStyle-2b5af115 ps42\">Drydock<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9346 ss691\"><div><div class=\"ps751 ss688\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps42\">5 years</span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps2250 ss690\"><div><div class=\"ps751 ss657\"><span class=\"f charStyle-2b5af115 ps42\">Cars<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps9347 ss691\"><div><div class=\"ps751 ss688\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps42\">5 years</span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps5516 ss690\"><div><div class=\"ps751 ss657\"><span class=\"f charStyle-2b5af115 ps42\">Other fixtures and fittings<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9350 ss691\"><div><div class=\"ps751 ss688\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps42\">2</span><span class=\"f charStyle-1770e19e ps9348\"> to </span><span class=\"f charStyle-1770e19e ps9349\">3 years</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6983 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The estimated useful life of the vessels of up to </span><span class=\"f charStyle-c1b8f9f6 ps9352\">25 years</span><span class=\"f charStyle-c1b8f9f6 ps9353\"> has been determined by an external consultant </span></div><div class=\"ps9283 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">through a fatigue analysis based on the technical specification of the vessels, whereas for Wind Peak, the </span></div><div class=\"ps9289 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">estimated useful life has been determined based on an internal technical analysis, validated by an external </span></div><div class=\"ps9294 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">expert. The estimated useful life of these vessels depends on the initial delivery date. </span></div><div class=\"ps2983 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Prior to their acquisition, Wind Orca and Wind Osprey, had already been in use for </span><span class=\"f charStyle-c1b8f9f6 ps9354\">eight years</span><span class=\"f charStyle-c1b8f9f6 ps9355\">, therefore the </span></div><div class=\"ps2984 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">remaining useful life of these vessels is estimated at </span><span class=\"f charStyle-c1b8f9f6 ps9356\">17 years</span><span class=\"f charStyle-c1b8f9f6 ps9357\"> for all components except for the jacking </span></div><div class=\"ps2985 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">system and the main crane, which have a remaining useful life of </span><span class=\"f charStyle-c1b8f9f6 ps9358\">three years</span><span class=\"f charStyle-c1b8f9f6 ps9359\"> from the acquisition date. For </span></div><div class=\"ps3304 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Wind Scylla and Wind Zaratan, the remaining useful lives at the acquisition date were assessed to be </span><span class=\"f charStyle-c1b8f9f6 ps9360\">17</span><span class=\"f charStyle-c1b8f9f6 ps9361\"> and </span></div><div class=\"ps3305 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">14 years</span><span class=\"f charStyle-c1b8f9f6 ps9362\"> respectively, and all components are assigned the same useful life. Hull and steel components have </span></div><div class=\"ps3306 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">a salvage value of up to</span><span class=\"f charStyle-c1b8f9f6 ps9363\"> </span><span class=\"f charStyle-c1b8f9f6 ps9364\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9365\"> </span><span class=\"f charStyle-c1b8f9f6 ps9366\">15\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9367\"> per vessel at the end of their useful lives. Both the salvage value and </span></div><div class=\"ps3307 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">the residual value are estimated as the lightweight tonnage of each vessel multiplied by the scrap value per </span></div><div class=\"ps3308 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">tonne. Depreciation is based on costs less the estimated residual value.</span></div><div class=\"ps3111 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Further information is provided in Note 2.4, Material accounting judgements, estimates and assumptions, in </span></div><div class=\"ps3112 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">relation to vessels acquired through the business combination.</span></div><div class=\"ps3119 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The residual value, useful life, and methods of depreciation of property, plant, and equipment are reviewed </span></div><div class=\"ps3120 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">at each financial year end and adjusted accordingly, if appropriate.</span></div><div class=\"ps9368 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Borrowing costs<span id=\"i6256ae5b87dc48b2a1ee275c61305707\"></span></span></div><div class=\"ps9369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Borrowing costs are capitalised in accordance with IAS 23, where borrowing costs directly attributable to the </span></div><div class=\"ps9370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">construction of assets are capitalised until the asset is substantially ready for its intended use. Borrowing </span></div><div class=\"ps9371 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">costs consist of interest and other costs incurred by the Group incurs in connection with the borrowing of </span></div><div class=\"ps9372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">funds, including guarantee fees provided by related parties.</span></div><div class=\"ps9373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Impairment of non-financial assets <span id=\"ied66e0bde3da4c348bdf3ba8c64c7cb7\"></span></span></div><div class=\"ps9374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Property, plant and equipment and right-of-use assets are tested for impairment whenever there is </span></div><div class=\"ps9375 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">objective evidence or an indication that these assets may be impaired. Refer to note 12 for further </span></div><div class=\"ps7926 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">information impairment testing.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-554": {
   "value": "<div class=\"ps9335 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies<span id=\"i0ddbd7e4d5ee4f2694b6407c8d48253e\"></span></span></div><div class=\"ps7317 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Property, plant and equipment are recognised at cost less accumulated depreciation and accumulated </span></div><div class=\"ps8865 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">impairment losses.</span></div><div class=\"ps6966 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The cost of an item of property, plant and equipment initially recognised includes its purchase price and any </span></div><div class=\"ps6967 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">costs that are directly attributable to bringing the asset to the location and condition necessary for it to be </span></div><div class=\"ps6970 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">capable of operating in the manner intended by management.</span></div><div class=\"ps6971 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Subsequent expenditure relating to property, plant and equipment that has already been recognised is </span></div><div class=\"ps7347 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">added to the carrying amount of the asset only when it is probable that future economic benefits associated </span></div><div class=\"ps9336 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">with the item will flow to the Group and the cost of the item can be measured reliably. All other repair and </span></div><div class=\"ps9337 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">maintenance expenses are recognised in profit or loss as incurred.</span></div><div class=\"ps9339 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">To maintain operational capability, the vessels are required to undergo dry-docking procedures every </span><span class=\"f charStyle-c1b8f9f6 ps9338\">five </span></div><div class=\"ps9340 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">years</span><span class=\"f charStyle-c1b8f9f6 ps8104\">. The costs of the dry-docking procedures are capitalised at cost, including any costs that are directly </span></div><div class=\"ps9341 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">attributable to bringing the vessels to the location and condition necessary for the dry-docking procedures.</span></div><div class=\"ps8937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Depreciation is calculated using the straight-line method to allocate their depreciable amounts over the </span></div><div class=\"ps9343 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">assets\u2019 estimated useful life. </span><span class=\"f charStyle-c1b8f9f6 ps9342\">The estimated useful lives are as follows:</span></div><div class=\"ps9351 ss0\"><div class=\"ss177 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:242.25pt\"></td><td style=\"padding:0;width:174.75pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #000000;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #000;padding:0\"><div class=\"ps8576 ss689\"><div><div class=\"ps44 ss688\"><span class=\"f charStyle-a2ac8934 ps42\">Useful life<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"background-color:#ffffff;border-top:1pt solid #000000;padding:0\"><div class=\"ps46 ss690\"><div><div class=\"ps751 ss657\"><span class=\"f charStyle-2b5af115 ps42\">Vessels and furnished equipment<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:1pt solid #000;padding:0\"><div class=\"ps9345 ss691\"><div><div class=\"ps751 ss688\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps42\">Up to </span><span class=\"f charStyle-1770e19e ps9344\">25 years</span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps5635 ss690\"><div><div class=\"ps751 ss657\"><span class=\"f charStyle-2b5af115 ps42\">Drydock<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9346 ss691\"><div><div class=\"ps751 ss688\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps42\">5 years</span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps2250 ss690\"><div><div class=\"ps751 ss657\"><span class=\"f charStyle-2b5af115 ps42\">Cars<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps9347 ss691\"><div><div class=\"ps751 ss688\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps42\">5 years</span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps5516 ss690\"><div><div class=\"ps751 ss657\"><span class=\"f charStyle-2b5af115 ps42\">Other fixtures and fittings<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9350 ss691\"><div><div class=\"ps751 ss688\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps42\">2</span><span class=\"f charStyle-1770e19e ps9348\"> to </span><span class=\"f charStyle-1770e19e ps9349\">3 years</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6983 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The estimated useful life of the vessels of up to </span><span class=\"f charStyle-c1b8f9f6 ps9352\">25 years</span><span class=\"f charStyle-c1b8f9f6 ps9353\"> has been determined by an external consultant </span></div><div class=\"ps9283 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">through a fatigue analysis based on the technical specification of the vessels, whereas for Wind Peak, the </span></div><div class=\"ps9289 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">estimated useful life has been determined based on an internal technical analysis, validated by an external </span></div><div class=\"ps9294 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">expert. The estimated useful life of these vessels depends on the initial delivery date. </span></div><div class=\"ps2983 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Prior to their acquisition, Wind Orca and Wind Osprey, had already been in use for </span><span class=\"f charStyle-c1b8f9f6 ps9354\">eight years</span><span class=\"f charStyle-c1b8f9f6 ps9355\">, therefore the </span></div><div class=\"ps2984 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">remaining useful life of these vessels is estimated at </span><span class=\"f charStyle-c1b8f9f6 ps9356\">17 years</span><span class=\"f charStyle-c1b8f9f6 ps9357\"> for all components except for the jacking </span></div><div class=\"ps2985 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">system and the main crane, which have a remaining useful life of </span><span class=\"f charStyle-c1b8f9f6 ps9358\">three years</span><span class=\"f charStyle-c1b8f9f6 ps9359\"> from the acquisition date. For </span></div><div class=\"ps3304 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Wind Scylla and Wind Zaratan, the remaining useful lives at the acquisition date were assessed to be </span><span class=\"f charStyle-c1b8f9f6 ps9360\">17</span><span class=\"f charStyle-c1b8f9f6 ps9361\"> and </span></div><div class=\"ps3305 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">14 years</span><span class=\"f charStyle-c1b8f9f6 ps9362\"> respectively, and all components are assigned the same useful life. Hull and steel components have </span></div><div class=\"ps3306 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">a salvage value of up to</span><span class=\"f charStyle-c1b8f9f6 ps9363\"> </span><span class=\"f charStyle-c1b8f9f6 ps9364\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9365\"> </span><span class=\"f charStyle-c1b8f9f6 ps9366\">15\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9367\"> per vessel at the end of their useful lives. Both the salvage value and </span></div><div class=\"ps3307 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">the residual value are estimated as the lightweight tonnage of each vessel multiplied by the scrap value per </span></div><div class=\"ps3308 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">tonne. Depreciation is based on costs less the estimated residual value.</span></div><div class=\"ps3111 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Further information is provided in Note 2.4, Material accounting judgements, estimates and assumptions, in </span></div><div class=\"ps3112 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">relation to vessels acquired through the business combination.</span></div><div class=\"ps3119 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The residual value, useful life, and methods of depreciation of property, plant, and equipment are reviewed </span></div><div class=\"ps3120 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">at each financial year end and adjusted accordingly, if appropriate.</span></div><div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Accounting policies<span id=\"i5b93fa0e4eeb499581f0d02dbf58f2fb\"></span></span></div><div class=\"ps8664 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Right-of-Use Assets <span id=\"if3e7eb2c164547ba99ae198c39355d35\"></span></span></div><div class=\"ps8665 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The Group recognises a right-of-use asset and lease liability at the date on which the underlying asset is </span></div><div class=\"ps8666 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">made available for use. Right-of-use assets are measured at cost, which comprises the initial measurement </span></div><div class=\"ps8667 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">of the lease liability using an incremental borrowing rate adjusted for any lease payments made at or before </span></div><div class=\"ps8668 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">the commencement date and any lease incentives received. Any initial direct costs that would not have been </span></div><div class=\"ps8689 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">incurred if the lease had not been obtained are included in to the carrying amount of the right-of-use </span></div><div class=\"ps9618 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">assets.</span></div><div class=\"ps8671 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The right-of-use asset is subsequently measured at cost, less any accumulated depreciation and impairment </span></div><div class=\"ps8672 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">losses, and adjusted for any remeasurement of the lease liability.</span></div><div class=\"ps3191 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Right-of-use assets are depreciated on a straight-line basis over the lease term.</span></div><div class=\"ps9619 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Right-of-use assets are tested for impairment whenever there is objective evidence or an indication that </span></div><div class=\"ps9620 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">these assets may be impaired. For further information regarding impairment testing. please refer to Note 13.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-557": {
   "value": "<div class=\"ps9368 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Borrowing costs<span id=\"i6256ae5b87dc48b2a1ee275c61305707\"></span></span></div><div class=\"ps9369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Borrowing costs are capitalised in accordance with IAS 23, where borrowing costs directly attributable to the </span></div><div class=\"ps9370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">construction of assets are capitalised until the asset is substantially ready for its intended use. Borrowing </span></div><div class=\"ps9371 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">costs consist of interest and other costs incurred by the Group incurs in connection with the borrowing of </span></div><div class=\"ps9372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">funds, including guarantee fees provided by related parties.</span></div><div class=\"ps11072 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies<span id=\"ia724b79896824364bb1ed0a2821fa1af\"></span></span></div><div class=\"ps7064 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Debt to credit institutions etc. is recognised at the time of borrowing </span></div><div class=\"ps7065 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">at fair value after deduction of directly attributable transaction costs. </span></div><div class=\"ps7066 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Subsequently, the financial liabilities are measured at amortised cost </span></div><div class=\"ps7067 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">using the \"effective interest method\", whereby the difference </span></div><div class=\"ps7068 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">between the proceeds and the nominal value is recognised in the </span></div><div class=\"ps296 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">statement of profit and loss under financial expenses over the loan </span></div><div class=\"ps297 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">period. </span></div><div class=\"ps7069 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">A financial liability is derecognised when the obligation under the </span></div><div class=\"ps7070 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">liability is discharged, cancelled or expires.</span></div><div class=\"ps11073 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">When an existing financial liability is replaced by another from the </span></div><div class=\"ps11074 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">same lender on substantially different terms, or when the terms of an </span></div><div class=\"ps7009 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">existing liability are substantially modified, such an exchange or </span></div><div class=\"ps7010 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">modification is treated as the derecognition of the original liability </span></div><div class=\"ps7011 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">and the recognition of a new liability.</span></div><div class=\"ps11075 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The difference in the respective carrying amounts of the original and </span></div><div class=\"ps11076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the new financial liability is recognised in the statement of profit and </span></div><div class=\"ps7012 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">loss.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-556": {
   "value": "<div class=\"ps9368 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Borrowing costs<span id=\"i6256ae5b87dc48b2a1ee275c61305707\"></span></span></div><div class=\"ps9369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Borrowing costs are capitalised in accordance with IAS 23, where borrowing costs directly attributable to the </span></div><div class=\"ps9370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">construction of assets are capitalised until the asset is substantially ready for its intended use. Borrowing </span></div><div class=\"ps9371 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">costs consist of interest and other costs incurred by the Group incurs in connection with the borrowing of </span></div><div class=\"ps9372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">funds, including guarantee fees provided by related parties.</span></div><div class=\"ps9621 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Lease liabilities<span id=\"i906fb04c707e4a55b0265cca42759d6e\"></span></span></div><div class=\"ps2679 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">At the inception of a contract, the Group assesses whether the contract contains a lease. A contract contains </span></div><div class=\"ps2680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">a lease if it conveys the right to control the use of an identified asset for a period of time in exchange for </span></div><div class=\"ps2681 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">consideration. Reassessment is required only when the terms and conditions of the contract are changed.</span></div><div class=\"ps6983 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">At the commencement date of the lease, the Group recognises lease liabilities measured at the present </span></div><div class=\"ps9283 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">value of lease payments to be made over the lease term. The lease payments include fixed payments </span></div><div class=\"ps9289 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(including in-substance fixed payments) less any lease incentives receivable, variable lease payments that </span></div><div class=\"ps9294 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">depend on an index or a rate, and amounts expected to be paid under residual value guarantees.</span></div><div class=\"ps2983 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Variable lease payments that do not depend on an index or a rate are recognised as expenses in the period </span></div><div class=\"ps2984 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">in which the event or condition that triggers the payment occurs. Utilisation based lease fees are classified <span class=\"f ps43\"> </span></span></div><div class=\"ps2985 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">as variable lease payments.</span></div><div class=\"ps2986 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the </span></div><div class=\"ps2987 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">lease commencement date, as the interest rate implicit in the lease is not readily determinable. After the </span></div><div class=\"ps2988 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">commencement date, the carrying amount of lease liabilities is increased to reflect the accretion of interest </span></div><div class=\"ps2989 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">and reduced by lease payments made.</span></div><div class=\"ps2990 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the </span></div><div class=\"ps2991 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an </span></div><div class=\"ps3118 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">index or rate used to determine such lease payments) or a change in the assessment of an option to </span></div><div class=\"ps3119 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">purchase the underlying asset.</span></div><div class=\"ps9626 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Short-term and low-value leases<span id=\"i47c0a14c77d249589203643c44fd375a\"></span></span></div><div class=\"ps9627 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group has elected not to recognise right-of-use assets and lease liabilities for short-term leases with </span></div><div class=\"ps9369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">lease terms of </span><span class=\"f charStyle-c1b8f9f6 ps7514\">twelve months</span><span class=\"f charStyle-c1b8f9f6 ps9628\"> or less, and for low-value leases. Lease payments relating to these leases are </span></div><div class=\"ps9370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">expensed to profit or loss on a straight-line basis over the lease term. Short-term and low-value leases </span></div><div class=\"ps9371 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">include cars, coffee machines, office premises and AV equipment.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingCostsExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-555": {
   "value": "<div class=\"ps9368 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Borrowing costs<span id=\"i6256ae5b87dc48b2a1ee275c61305707\"></span></span></div><div class=\"ps9369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Borrowing costs are capitalised in accordance with IAS 23, where borrowing costs directly attributable to the </span></div><div class=\"ps9370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">construction of assets are capitalised until the asset is substantially ready for its intended use. Borrowing </span></div><div class=\"ps9371 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">costs consist of interest and other costs incurred by the Group incurs in connection with the borrowing of </span></div><div class=\"ps9372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">funds, including guarantee fees provided by related parties.</span></div><div class=\"ps9621 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Lease liabilities<span id=\"i906fb04c707e4a55b0265cca42759d6e\"></span></span></div><div class=\"ps2679 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">At the inception of a contract, the Group assesses whether the contract contains a lease. A contract contains </span></div><div class=\"ps2680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">a lease if it conveys the right to control the use of an identified asset for a period of time in exchange for </span></div><div class=\"ps2681 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">consideration. Reassessment is required only when the terms and conditions of the contract are changed.</span></div><div class=\"ps6983 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">At the commencement date of the lease, the Group recognises lease liabilities measured at the present </span></div><div class=\"ps9283 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">value of lease payments to be made over the lease term. The lease payments include fixed payments </span></div><div class=\"ps9289 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(including in-substance fixed payments) less any lease incentives receivable, variable lease payments that </span></div><div class=\"ps9294 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">depend on an index or a rate, and amounts expected to be paid under residual value guarantees.</span></div><div class=\"ps2983 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Variable lease payments that do not depend on an index or a rate are recognised as expenses in the period </span></div><div class=\"ps2984 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">in which the event or condition that triggers the payment occurs. Utilisation based lease fees are classified <span class=\"f ps43\"> </span></span></div><div class=\"ps2985 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">as variable lease payments.</span></div><div class=\"ps2986 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the </span></div><div class=\"ps2987 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">lease commencement date, as the interest rate implicit in the lease is not readily determinable. After the </span></div><div class=\"ps2988 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">commencement date, the carrying amount of lease liabilities is increased to reflect the accretion of interest </span></div><div class=\"ps2989 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">and reduced by lease payments made.</span></div><div class=\"ps2990 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the </span></div><div class=\"ps2991 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an </span></div><div class=\"ps3118 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">index or rate used to determine such lease payments) or a change in the assessment of an option to </span></div><div class=\"ps3119 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">purchase the underlying asset.</span></div><div class=\"ps9626 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Short-term and low-value leases<span id=\"i47c0a14c77d249589203643c44fd375a\"></span></span></div><div class=\"ps9627 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group has elected not to recognise right-of-use assets and lease liabilities for short-term leases with </span></div><div class=\"ps9369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">lease terms of </span><span class=\"f charStyle-c1b8f9f6 ps7514\">twelve months</span><span class=\"f charStyle-c1b8f9f6 ps9628\"> or less, and for low-value leases. Lease payments relating to these leases are </span></div><div class=\"ps9370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">expensed to profit or loss on a straight-line basis over the lease term. Short-term and low-value leases </span></div><div class=\"ps9371 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">include cars, coffee machines, office premises and AV equipment.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBorrowingCostsExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-558": {
   "value": "<div class=\"ps5 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 14</span></div><div class=\"ps9376 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Right-of-Use Assets and Lease Liabilities<span id=\"ic6b5dae89040428bb6463360488511eb\"></span></span></div><div class=\"ps9378 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Nature of the Group\u2019s leasing activities<span id=\"i608b922ee0474679823adfd451c47abb\"></span></span></div><div class=\"ps9379 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps186\">Office space</span></div><div class=\"ps9380 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group leases office space for the purpose of office operations. In 2025, the company terminated the </span></div><div class=\"ps9381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">lease agreement for its office in Great Yarmouth and entered into a lease contract for a new location in </span></div><div class=\"ps9386 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Norwich, effective March 2025, with a binding period of </span><span class=\"f charStyle-c1b8f9f6 ps9382\">10 years</span><span class=\"f charStyle-c1b8f9f6 ps9383\">. Additionally, the Company entered into </span><span class=\"f charStyle-c1b8f9f6 ps9384\">5</span><span class=\"f charStyle-c1b8f9f6 ps9385\">-</span></div><div class=\"ps9391 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">year</span><span class=\"f charStyle-c1b8f9f6 ps9387\"> leases for office premises in Monaco and Taiwan, and a </span><span class=\"f charStyle-c1b8f9f6 ps9388\">3</span><span class=\"f charStyle-c1b8f9f6 ps9389\">-year</span><span class=\"f charStyle-c1b8f9f6 ps9390\"> lease for a new office in Vejle. </span></div><div class=\"ps9392 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps186\">Warehouse facilities</span></div><div class=\"ps9393 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group leases a warehouse facility located in the UK.</span></div><div class=\"ps9450 ss0\"><div class=\"ss177 ws0 ps1056\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:144pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:68.25pt\"></td></tr><tr style=\"height:24.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss693\"><div><div class=\"ps7445 ss692\"><span class=\"f charStyle-4979afbe ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9398 ss635\"><div><div class=\"ps5182 ss339\"><span class=\"f charStyle-281247bf ps3893\">Leasehold <span class=\"f ps43\"> </span></span></div><div class=\"ps5183 ss339\"><span class=\"f charStyle-281247bf ps9397\">equipment</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9400 ss635\"><div><div class=\"ps5182 ss339\"><span class=\"f charStyle-281247bf ps9399\">Warehouse <span class=\"f ps43\"> </span></span></div><div class=\"ps5183 ss339\"><span class=\"f charStyle-281247bf ps6498\">facilities</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9402 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-281247bf ps9401\">Office space<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps1976 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-281247bf ps6084\">Total<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps1978 ss693\"><div><div class=\"ps5618 ss692\"><span class=\"f charStyle-b07b4361 ps42\">Cost 2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps7522 ss693\"><div><div class=\"ps2693 ss692\"><span class=\"f charStyle-1bac868e ps633\">Beginning of financial year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9403 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9404 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9405 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:33.02pt\"></span></span><span class=\"ps8315\">13,324</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9406 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:33.02pt\"></span></span><span class=\"ps8315\">13,324</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps7526 ss693\"><div><div class=\"ps2693 ss692\"><span class=\"f charStyle-1bac868e ps633\">Additions<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9407 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9408 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9410 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.87pt\"></span></span><span class=\"ps9409\">3,894</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9411 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.87pt\"></span></span><span class=\"ps9409\">3,894</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps2297 ss693\"><div><div class=\"ps2693 ss692\"><span class=\"f charStyle-1bac868e ps633\">Disposals<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9412 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9413 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9414 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9415 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps495 ss693\"><div><div class=\"ps2693 ss692\"><span class=\"f charStyle-1bac868e ps633\">Exchange differences<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9416 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9417 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9418 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9419 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps1043 ss693\"><div><div class=\"ps2693 ss692\"><span class=\"f charStyle-23b55a92 ps42\">31 December 2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9420 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9421 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9423 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:30.94pt\"></span></span><span class=\"ps9422\">17,218</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9424 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:30.94pt\"></span></span><span class=\"ps9422\">17,218</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps66 ss693\"><div><div class=\"ps2693 ss692\"><span class=\"f charStyle-b07b4361 ps42\">Accumulated depreciation<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5702 ss693\"><div><div class=\"ps2693 ss692\"><span class=\"f charStyle-1bac868e ps633\">Beginning of financial year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9425 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9426 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9427 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.87pt\"></span></span><span class=\"ps9409\">2,987</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9428 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.87pt\"></span></span><span class=\"ps9409\">2,987</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5540 ss693\"><div><div class=\"ps2693 ss692\"><span class=\"f charStyle-1bac868e ps633\">Depreciation charge<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9429 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9430 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9431 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.87pt\"></span></span><span class=\"ps9409\">1,633</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9432 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.87pt\"></span></span><span class=\"ps9409\">1,633</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps4003 ss693\"><div><div class=\"ps2693 ss692\"><span class=\"f charStyle-1bac868e ps633\">Disposals<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9433 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9434 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9435 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9436 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps6168 ss693\"><div><div class=\"ps2693 ss692\"><span class=\"f charStyle-1bac868e ps633\">Exchange differences<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9437 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9438 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6174 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9439 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps3780 ss693\"><div><div class=\"ps2693 ss692\"><span class=\"f charStyle-23b55a92 ps42\">31 December 2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9440 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9441 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9443 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.11pt\"></span></span><span class=\"ps9442\">4,620</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9444 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.11pt\"></span></span><span class=\"ps9442\">4,620</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9445 ss693\"><div><div class=\"ps2693 ss692\"><span class=\"f charStyle-b07b4361 ps42\">Carrying amount<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9446 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9447 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9448 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:30.94pt\"></span></span><span class=\"ps9422\">12,598</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9449 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:30.94pt\"></span></span><span class=\"ps9422\">12,598</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7498 ss0\"><div class=\"ss177 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:150pt\"></td><td style=\"padding:0;width:66.75pt\"></td><td style=\"padding:0;width:66.75pt\"></td><td style=\"padding:0;width:66.75pt\"></td><td style=\"padding:0;width:66.75pt\"></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss694\"><div><div class=\"ps9452 ss398\"><span class=\"f charStyle-4979afbe ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5172 ss696\"><div><div class=\"ps4321 ss695\"><span class=\"f charStyle-281247bf ps4460\">Leasehold <span class=\"f ps43\"> </span></span></div><div class=\"ps4323 ss695\"><span class=\"f charStyle-281247bf ps9453\">equipment</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9456 ss696\"><div><div class=\"ps4321 ss695\"><span class=\"f charStyle-281247bf ps9454\">Warehouse <span class=\"f ps43\"> </span></span></div><div class=\"ps4323 ss695\"><span class=\"f charStyle-281247bf ps9455\">facilities</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9458 ss696\"><div><div class=\"ps2173 ss695\"><span class=\"f charStyle-281247bf ps9457\">Office space<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps3688 ss696\"><div><div class=\"ps2173 ss695\"><span class=\"f charStyle-281247bf ps9459\">Total<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps3692 ss401\"><div><div class=\"ps5618 ss398\"><span class=\"f charStyle-b07b4361 ps42\">Cost 2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps9460 ss401\"><div><div class=\"ps2693 ss398\"><span class=\"f charStyle-1bac868e ps633\">Beginning of financial year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9462 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9461\">464</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9463 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9461\">409</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9465 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.37pt\"></span></span><span class=\"ps9464\">2,261</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9466 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.37pt\"></span></span><span class=\"ps9464\">3,134</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps9467 ss401\"><div><div class=\"ps2693 ss398\"><span class=\"f charStyle-1bac868e ps633\">Acquisition of businesses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9469 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9468\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9470 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9468\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9472 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:31.52pt\"></span></span><span class=\"ps9471\">10,864</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9473 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:31.52pt\"></span></span><span class=\"ps9471\">10,864</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps9474 ss401\"><div><div class=\"ps2693 ss398\"><span class=\"f charStyle-1bac868e ps633\">Exchange differences<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9475 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9468\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9477 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.02pt\"></span></span><span class=\"ps9476\">20</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9478 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9461\">199</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9479 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9461\">219</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9480 ss401\"><div><div class=\"ps2693 ss398\"><span class=\"f charStyle-23b55a92 ps42\">31 December 2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9481 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9468\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9482 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9468\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9484 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.44pt\"></span></span><span class=\"ps9483\">13,324</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9485 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.44pt\"></span></span><span class=\"ps9483\">13,324</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9486 ss401\"><div><div class=\"ps2693 ss398\"><span class=\"f charStyle-b07b4361 ps42\">Accumulated depreciation<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps9487 ss401\"><div><div class=\"ps2693 ss398\"><span class=\"f charStyle-1bac868e ps633\">Beginning of financial year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9488 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9461\">464</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9489 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.02pt\"></span></span><span class=\"ps9476\">24</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9490 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.37pt\"></span></span><span class=\"ps9464\">1,673</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9491 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.37pt\"></span></span><span class=\"ps9464\">2,161</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps9492 ss401\"><div><div class=\"ps2693 ss398\"><span class=\"f charStyle-1bac868e ps633\">Depreciation charge<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9493 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9468\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9494 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9461\">235</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9495 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.37pt\"></span></span><span class=\"ps9464\">1,144</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9496 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.37pt\"></span></span><span class=\"ps9464\">1,379</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps4626 ss401\"><div><div class=\"ps2693 ss398\"><span class=\"f charStyle-1bac868e ps633\">Exchange differences<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9497 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9468\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9498 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:52.87pt\"></span></span><span class=\"ps752\">6</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9499 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9461\">170</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9500 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9461\">176</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9501 ss401\"><div><div class=\"ps2693 ss398\"><span class=\"f charStyle-23b55a92 ps42\">31 December 2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9502 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9468\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9503 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9468\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9505 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.61pt\"></span></span><span class=\"ps9504\">2,987</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9506 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.61pt\"></span></span><span class=\"ps9504\">2,987</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps6618 ss401\"><div><div class=\"ps2693 ss398\"><span class=\"f charStyle-b07b4361 ps42\">Carrying amount<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9507 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9468\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9508 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9468\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9509 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.44pt\"></span></span><span class=\"ps9483\">10,337</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9510 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.44pt\"></span></span><span class=\"ps9483\">10,337</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7498 ss0\"><div class=\"ss177 ws0 ps1056\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:120pt\"></td><td style=\"padding:0;width:74.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss698\"><div><div class=\"ps9452 ss315\"><span class=\"f charStyle-4979afbe ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9514 ss699\"><div><div class=\"ps4321 ss164\"><span class=\"f charStyle-281247bf ps9512\">Leasehold <span class=\"f ps43\"> </span></span></div><div class=\"ps4323 ss164\"><span class=\"f charStyle-281247bf ps9513\">equipment</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7247 ss699\"><div><div class=\"ps4321 ss164\"><span class=\"f charStyle-281247bf ps6114\">Warehouse <span class=\"f ps43\"> </span></span></div><div class=\"ps4323 ss164\"><span class=\"f charStyle-281247bf ps9515\">facilities</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9517 ss699\"><div><div class=\"ps2173 ss164\"><span class=\"f charStyle-281247bf ps9516\">Office space<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2120 ss699\"><div><div class=\"ps2173 ss164\"><span class=\"f charStyle-281247bf ps6506\">Total<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps3692 ss700\"><div><div class=\"ps5618 ss315\"><span class=\"f charStyle-b07b4361 ps42\">Cost 2023<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps9460 ss700\"><div><div class=\"ps2693 ss315\"><span class=\"f charStyle-1bac868e ps633\">Beginning of financial year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9518 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">464</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9519 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9520 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6516\">1,681</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9521 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6516\">2,145</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps9467 ss700\"><div><div class=\"ps2693 ss315\"><span class=\"f charStyle-1bac868e ps633\">Acquisition of businesses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9522 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9523 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">421</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9524 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">612</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9525 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6516\">1,033</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps9474 ss700\"><div><div class=\"ps2693 ss315\"><span class=\"f charStyle-1bac868e ps633\">Exchange differences<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps9527 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.24pt\"></span></span><span class=\"ps9526\">(12)</span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:24.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9480 ss700\"><div><div class=\"ps2693 ss315\"><span class=\"f charStyle-23b55a92 ps42\">31 December 2023<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9528 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8812\">464</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9529 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8812\">409</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9530 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.11pt\"></span></span><span class=\"ps6623\">2,261</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9531 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.11pt\"></span></span><span class=\"ps6623\">3,134</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9486 ss700\"><div><div class=\"ps2693 ss315\"><span class=\"f charStyle-b07b4361 ps42\">Accumulated depreciation<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps9487 ss700\"><div><div class=\"ps2693 ss315\"><span class=\"f charStyle-1bac868e ps633\">Beginning of financial year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9532 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">381</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9533 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9534 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6516\">1,477</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9535 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6516\">1,858</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps9492 ss700\"><div><div class=\"ps2693 ss315\"><span class=\"f charStyle-1bac868e ps633\">Depreciation charge<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9536 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.52pt\"></span></span><span class=\"ps6646\">83</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9537 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.52pt\"></span></span><span class=\"ps6646\">30</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9538 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">221</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9539 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">334</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps4626 ss700\"><div><div class=\"ps2693 ss315\"><span class=\"f charStyle-1bac868e ps633\">Exchange differences<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps9541 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:54.95pt\"></span></span><span class=\"ps9540\">(6)</span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:24.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9501 ss700\"><div><div class=\"ps2693 ss315\"><span class=\"f charStyle-23b55a92 ps42\">31 December 2023<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9542 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8812\">464</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9544 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:54.88pt\"></span></span><span class=\"ps9543\">24</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9545 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.11pt\"></span></span><span class=\"ps6623\">1,673</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9546 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.11pt\"></span></span><span class=\"ps6623\">2,161</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps6618 ss700\"><div><div class=\"ps2693 ss315\"><span class=\"f charStyle-b07b4361 ps42\">Carrying amount<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9547 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9548 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8812\">385</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9549 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8812\">588</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9550 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8812\">973</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7498 ss0\"><div class=\"ss194 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:191.25pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss702\"><div><div class=\"ps9452 ss701\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9551 ss703\"><div><div class=\"ps6213 ss298\"><span class=\"f charStyle-281247bf ps3727\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9552 ss703\"><div><div class=\"ps6213 ss298\"><span class=\"f charStyle-054ead99 ps3727\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5299 ss703\"><div><div class=\"ps6213 ss298\"><span class=\"f charStyle-054ead99 ps3727\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps3692 ss702\"><div><div class=\"ps9553 ss701\"><span class=\"f charStyle-1bac868e ps633\">Lease liabilities at 1 January (current and <span class=\"f ps43\"> </span></span></div><div class=\"ps6213 ss701\"><span class=\"f charStyle-1bac868e ps633\">non-current lease)</span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9554 ss703\"><div><div class=\"ps6213 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7253\">10,971</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9556 ss703\"><div><div class=\"ps6213 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">993</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9557 ss703\"><div><div class=\"ps6213 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">279</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps2154 ss704\"><div><div class=\"ps4278 ss701\"><span class=\"f charStyle-1bac868e ps633\">Acquisition of subsidiaries<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9558 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9559 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9560 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7271\">1,299</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps2158 ss704\"><div><div class=\"ps4278 ss701\"><span class=\"f charStyle-1bac868e ps633\">Additions during the year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9561 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7271\">4,640</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9562 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7253\">11,909</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9563 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps2072 ss704\"><div><div class=\"ps4278 ss701\"><span class=\"f charStyle-1bac868e ps633\">Exchange differences<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9564 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9566 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.27pt\"></span></span><span class=\"ps9565\">30</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9568 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.85pt\"></span></span><span class=\"ps9567\">(16)</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2166 ss704\"><div><div class=\"ps4278 ss701\"><span class=\"f charStyle-1bac868e ps633\">Repayment of lease obligations<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9570 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.2pt\"></span></span><span class=\"ps9569\">(2,072)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9571 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.2pt\"></span></span><span class=\"ps9569\">(1,961)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9573 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46pt\"></span></span><span class=\"ps9572\">(569)</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2001 ss704\"><div><div class=\"ps4278 ss701\"><span class=\"f charStyle-b07b4361 ps42\">Total lease liabilities at 31 December<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9574 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7284\">13,539</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9575 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7284\">10,971</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9577 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.46pt\"></span></span><span class=\"ps9576\">993</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8252 ss704\"><div><div class=\"ps4278 ss701\"><span class=\"f charStyle-b07b4361 ps42\">Current<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9579 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-23b55a92 ps9578\">1,057<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9580 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-b07b4361 ps9578\">1,274<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9582 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-b07b4361 ps9581\">601<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps7381 ss704\"><div><div class=\"ps4278 ss701\"><span class=\"f charStyle-b07b4361 ps42\">Non-current<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9584 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-23b55a92 ps9583\">12,482<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9585 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-b07b4361 ps9578\">9,697<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9586 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-b07b4361 ps9581\">392<span class=\"f ps43\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps9588 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Leas interest expenses recognised in profit and loss </span></div><div class=\"ps9589 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps186\">1.<span class=\"f ps43\"> </span></span><span class=\"f charStyle-4ecd4cad ps1760\">Interest expense</span></div><div class=\"ps9593 ss0\"><div class=\"ss194 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:191.25pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss704\"><div><div class=\"ps6190 ss701\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9551 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-281247bf ps3727\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9552 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-054ead99 ps3727\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5299 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-054ead99 ps3727\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:27pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4283 ss706\"><div><div class=\"ps8707 ss701\"><span class=\"f charStyle-1bac868e ps633\">Interest expense on lease liabilities (vessels <span class=\"f ps43\"> </span></span></div><div class=\"ps8708 ss701\"><span class=\"f charStyle-1bac868e ps633\">and office)</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9590 ss707\"><div><div class=\"ps8708 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">746</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9591 ss707\"><div><div class=\"ps8708 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">428</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9592 ss707\"><div><div class=\"ps8708 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.27pt\"></span></span><span class=\"ps9565\">25</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps4203 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps186\">1.<span class=\"f ps43\"> </span></span><span class=\"f charStyle-4ecd4cad ps1760\">Lease expense not capitalised in lease liabilities</span></div><div class=\"ps9594 ss0\"><div class=\"ss194 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:191.25pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss704\"><div><div class=\"ps6190 ss701\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9551 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-281247bf ps3727\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9552 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-054ead99 ps3727\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5299 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-054ead99 ps3727\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4283 ss708\"><div><div class=\"ps44 ss701\"><span class=\"f charStyle-1bac868e ps633\">Short-term lease expense<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9590 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">614</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9591 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">477</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9592 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">180</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6933 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Total cas</span><span class=\"f charStyle-c1b8f9f6 ps9595\">h ou</span><span class=\"f charStyle-c1b8f9f6 ps9596\">tflow for all leases in </span><span class=\"f charStyle-c1b8f9f6 ps9597\">2025</span><span class=\"f charStyle-c1b8f9f6 ps9598\">, </span><span class=\"f charStyle-c1b8f9f6 ps9599\">2024</span><span class=\"f charStyle-c1b8f9f6 ps9600\"> and </span><span class=\"f charStyle-c1b8f9f6 ps9601\">2023</span><span class=\"f charStyle-c1b8f9f6 ps9602\"> were</span><span class=\"f charStyle-c1b8f9f6 ps9603\"> </span><span class=\"f charStyle-c1b8f9f6 ps9604\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9605\"> </span><span class=\"f charStyle-c1b8f9f6 ps9606\">2,686</span><span class=\"f charStyle-c1b8f9f6 ps9607\"> thousand</span><span class=\"f charStyle-c1b8f9f6 ps9608\">, </span><span class=\"f charStyle-c1b8f9f6 ps9609\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9610\"> </span><span class=\"f charStyle-c1b8f9f6 ps9611\">1,152\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps9612\"> and </span></div><div class=\"ps9616 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">283\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps9613\"> respectively, excluding variable lease fee (refer to </span><span class=\"f charStyle-c1b8f9f6 ps9614\">Note 24). Please refer to Note 28</span><span class=\"f charStyle-c1b8f9f6 ps9615\"> for </span></div><div class=\"ps9617 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">disclosure on lease commitments. </span></div><div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Accounting policies<span id=\"i5b93fa0e4eeb499581f0d02dbf58f2fb\"></span></span></div><div class=\"ps8664 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Right-of-Use Assets <span id=\"if3e7eb2c164547ba99ae198c39355d35\"></span></span></div><div class=\"ps8665 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The Group recognises a right-of-use asset and lease liability at the date on which the underlying asset is </span></div><div class=\"ps8666 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">made available for use. Right-of-use assets are measured at cost, which comprises the initial measurement </span></div><div class=\"ps8667 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">of the lease liability using an incremental borrowing rate adjusted for any lease payments made at or before </span></div><div class=\"ps8668 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">the commencement date and any lease incentives received. Any initial direct costs that would not have been </span></div><div class=\"ps8689 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">incurred if the lease had not been obtained are included in to the carrying amount of the right-of-use </span></div><div class=\"ps9618 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">assets.</span></div><div class=\"ps8671 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The right-of-use asset is subsequently measured at cost, less any accumulated depreciation and impairment </span></div><div class=\"ps8672 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">losses, and adjusted for any remeasurement of the lease liability.</span></div><div class=\"ps3191 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Right-of-use assets are depreciated on a straight-line basis over the lease term.</span></div><div class=\"ps9619 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Right-of-use assets are tested for impairment whenever there is objective evidence or an indication that </span></div><div class=\"ps9620 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">these assets may be impaired. For further information regarding impairment testing. please refer to Note 13.</span></div><div class=\"ps9621 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Lease liabilities<span id=\"i906fb04c707e4a55b0265cca42759d6e\"></span></span></div><div class=\"ps2679 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">At the inception of a contract, the Group assesses whether the contract contains a lease. A contract contains </span></div><div class=\"ps2680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">a lease if it conveys the right to control the use of an identified asset for a period of time in exchange for </span></div><div class=\"ps2681 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">consideration. Reassessment is required only when the terms and conditions of the contract are changed.</span></div><div class=\"ps6983 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">At the commencement date of the lease, the Group recognises lease liabilities measured at the present </span></div><div class=\"ps9283 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">value of lease payments to be made over the lease term. The lease payments include fixed payments </span></div><div class=\"ps9289 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(including in-substance fixed payments) less any lease incentives receivable, variable lease payments that </span></div><div class=\"ps9294 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">depend on an index or a rate, and amounts expected to be paid under residual value guarantees.</span></div><div class=\"ps2983 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Variable lease payments that do not depend on an index or a rate are recognised as expenses in the period </span></div><div class=\"ps2984 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">in which the event or condition that triggers the payment occurs. Utilisation based lease fees are classified <span class=\"f ps43\"> </span></span></div><div class=\"ps2985 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">as variable lease payments.</span></div><div class=\"ps2986 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the </span></div><div class=\"ps2987 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">lease commencement date, as the interest rate implicit in the lease is not readily determinable. After the </span></div><div class=\"ps2988 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">commencement date, the carrying amount of lease liabilities is increased to reflect the accretion of interest </span></div><div class=\"ps2989 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">and reduced by lease payments made.</span></div><div class=\"ps2990 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the </span></div><div class=\"ps2991 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an </span></div><div class=\"ps3118 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">index or rate used to determine such lease payments) or a change in the assessment of an option to </span></div><div class=\"ps3119 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">purchase the underlying asset.</span></div><div class=\"ps9626 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Short-term and low-value leases<span id=\"i47c0a14c77d249589203643c44fd375a\"></span></span></div><div class=\"ps9627 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group has elected not to recognise right-of-use assets and lease liabilities for short-term leases with </span></div><div class=\"ps9369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">lease terms of </span><span class=\"f charStyle-c1b8f9f6 ps7514\">twelve months</span><span class=\"f charStyle-c1b8f9f6 ps9628\"> or less, and for low-value leases. Lease payments relating to these leases are </span></div><div class=\"ps9370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">expensed to profit or loss on a straight-line basis over the lease term. Short-term and low-value leases </span></div><div class=\"ps9371 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">include cars, coffee machines, office premises and AV equipment.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfLeasesExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-559": {
   "value": "<div class=\"ps9450 ss0\"><div class=\"ss177 ws0 ps1056\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:144pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:68.25pt\"></td></tr><tr style=\"height:24.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss693\"><div><div class=\"ps7445 ss692\"><span class=\"f charStyle-4979afbe ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9398 ss635\"><div><div class=\"ps5182 ss339\"><span class=\"f charStyle-281247bf ps3893\">Leasehold <span class=\"f ps43\"> </span></span></div><div class=\"ps5183 ss339\"><span class=\"f charStyle-281247bf ps9397\">equipment</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9400 ss635\"><div><div class=\"ps5182 ss339\"><span class=\"f charStyle-281247bf ps9399\">Warehouse <span class=\"f ps43\"> </span></span></div><div class=\"ps5183 ss339\"><span class=\"f charStyle-281247bf ps6498\">facilities</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9402 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-281247bf ps9401\">Office space<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps1976 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-281247bf ps6084\">Total<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps1978 ss693\"><div><div class=\"ps5618 ss692\"><span class=\"f charStyle-b07b4361 ps42\">Cost 2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps7522 ss693\"><div><div class=\"ps2693 ss692\"><span class=\"f charStyle-1bac868e ps633\">Beginning of financial year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9403 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9404 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9405 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:33.02pt\"></span></span><span class=\"ps8315\">13,324</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9406 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:33.02pt\"></span></span><span class=\"ps8315\">13,324</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps7526 ss693\"><div><div class=\"ps2693 ss692\"><span class=\"f charStyle-1bac868e ps633\">Additions<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9407 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9408 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9410 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.87pt\"></span></span><span class=\"ps9409\">3,894</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9411 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.87pt\"></span></span><span class=\"ps9409\">3,894</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps2297 ss693\"><div><div class=\"ps2693 ss692\"><span class=\"f charStyle-1bac868e ps633\">Disposals<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9412 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9413 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9414 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9415 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps495 ss693\"><div><div class=\"ps2693 ss692\"><span class=\"f charStyle-1bac868e ps633\">Exchange differences<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9416 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9417 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9418 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9419 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps1043 ss693\"><div><div class=\"ps2693 ss692\"><span class=\"f charStyle-23b55a92 ps42\">31 December 2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9420 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9421 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9423 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:30.94pt\"></span></span><span class=\"ps9422\">17,218</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9424 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:30.94pt\"></span></span><span class=\"ps9422\">17,218</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps66 ss693\"><div><div class=\"ps2693 ss692\"><span class=\"f charStyle-b07b4361 ps42\">Accumulated depreciation<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5702 ss693\"><div><div class=\"ps2693 ss692\"><span class=\"f charStyle-1bac868e ps633\">Beginning of financial year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9425 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9426 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9427 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.87pt\"></span></span><span class=\"ps9409\">2,987</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9428 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.87pt\"></span></span><span class=\"ps9409\">2,987</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5540 ss693\"><div><div class=\"ps2693 ss692\"><span class=\"f charStyle-1bac868e ps633\">Depreciation charge<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9429 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9430 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9431 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.87pt\"></span></span><span class=\"ps9409\">1,633</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9432 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.87pt\"></span></span><span class=\"ps9409\">1,633</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps4003 ss693\"><div><div class=\"ps2693 ss692\"><span class=\"f charStyle-1bac868e ps633\">Disposals<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9433 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9434 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9435 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9436 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps6168 ss693\"><div><div class=\"ps2693 ss692\"><span class=\"f charStyle-1bac868e ps633\">Exchange differences<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9437 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9438 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6174 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9439 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps3780 ss693\"><div><div class=\"ps2693 ss692\"><span class=\"f charStyle-23b55a92 ps42\">31 December 2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9440 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9441 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9443 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.11pt\"></span></span><span class=\"ps9442\">4,620</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9444 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.11pt\"></span></span><span class=\"ps9442\">4,620</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9445 ss693\"><div><div class=\"ps2693 ss692\"><span class=\"f charStyle-b07b4361 ps42\">Carrying amount<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9446 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9447 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8222\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9448 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:30.94pt\"></span></span><span class=\"ps9422\">12,598</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9449 ss635\"><div><div class=\"ps2693 ss339\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:30.94pt\"></span></span><span class=\"ps9422\">12,598</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7498 ss0\"><div class=\"ss177 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:150pt\"></td><td style=\"padding:0;width:66.75pt\"></td><td style=\"padding:0;width:66.75pt\"></td><td style=\"padding:0;width:66.75pt\"></td><td style=\"padding:0;width:66.75pt\"></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss694\"><div><div class=\"ps9452 ss398\"><span class=\"f charStyle-4979afbe ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5172 ss696\"><div><div class=\"ps4321 ss695\"><span class=\"f charStyle-281247bf ps4460\">Leasehold <span class=\"f ps43\"> </span></span></div><div class=\"ps4323 ss695\"><span class=\"f charStyle-281247bf ps9453\">equipment</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9456 ss696\"><div><div class=\"ps4321 ss695\"><span class=\"f charStyle-281247bf ps9454\">Warehouse <span class=\"f ps43\"> </span></span></div><div class=\"ps4323 ss695\"><span class=\"f charStyle-281247bf ps9455\">facilities</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9458 ss696\"><div><div class=\"ps2173 ss695\"><span class=\"f charStyle-281247bf ps9457\">Office space<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps3688 ss696\"><div><div class=\"ps2173 ss695\"><span class=\"f charStyle-281247bf ps9459\">Total<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps3692 ss401\"><div><div class=\"ps5618 ss398\"><span class=\"f charStyle-b07b4361 ps42\">Cost 2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps9460 ss401\"><div><div class=\"ps2693 ss398\"><span class=\"f charStyle-1bac868e ps633\">Beginning of financial year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9462 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9461\">464</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9463 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9461\">409</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9465 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.37pt\"></span></span><span class=\"ps9464\">2,261</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9466 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.37pt\"></span></span><span class=\"ps9464\">3,134</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps9467 ss401\"><div><div class=\"ps2693 ss398\"><span class=\"f charStyle-1bac868e ps633\">Acquisition of businesses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9469 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9468\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9470 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9468\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9472 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:31.52pt\"></span></span><span class=\"ps9471\">10,864</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9473 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:31.52pt\"></span></span><span class=\"ps9471\">10,864</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps9474 ss401\"><div><div class=\"ps2693 ss398\"><span class=\"f charStyle-1bac868e ps633\">Exchange differences<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9475 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9468\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9477 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.02pt\"></span></span><span class=\"ps9476\">20</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9478 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9461\">199</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9479 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9461\">219</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9480 ss401\"><div><div class=\"ps2693 ss398\"><span class=\"f charStyle-23b55a92 ps42\">31 December 2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9481 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9468\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9482 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9468\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9484 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.44pt\"></span></span><span class=\"ps9483\">13,324</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9485 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.44pt\"></span></span><span class=\"ps9483\">13,324</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9486 ss401\"><div><div class=\"ps2693 ss398\"><span class=\"f charStyle-b07b4361 ps42\">Accumulated depreciation<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps9487 ss401\"><div><div class=\"ps2693 ss398\"><span class=\"f charStyle-1bac868e ps633\">Beginning of financial year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9488 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9461\">464</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9489 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.02pt\"></span></span><span class=\"ps9476\">24</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9490 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.37pt\"></span></span><span class=\"ps9464\">1,673</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9491 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.37pt\"></span></span><span class=\"ps9464\">2,161</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps9492 ss401\"><div><div class=\"ps2693 ss398\"><span class=\"f charStyle-1bac868e ps633\">Depreciation charge<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9493 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9468\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9494 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9461\">235</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9495 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.37pt\"></span></span><span class=\"ps9464\">1,144</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9496 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.37pt\"></span></span><span class=\"ps9464\">1,379</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps4626 ss401\"><div><div class=\"ps2693 ss398\"><span class=\"f charStyle-1bac868e ps633\">Exchange differences<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9497 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9468\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9498 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:52.87pt\"></span></span><span class=\"ps752\">6</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9499 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9461\">170</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9500 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9461\">176</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9501 ss401\"><div><div class=\"ps2693 ss398\"><span class=\"f charStyle-23b55a92 ps42\">31 December 2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9502 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9468\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9503 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9468\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9505 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.61pt\"></span></span><span class=\"ps9504\">2,987</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9506 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.61pt\"></span></span><span class=\"ps9504\">2,987</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps6618 ss401\"><div><div class=\"ps2693 ss398\"><span class=\"f charStyle-b07b4361 ps42\">Carrying amount<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9507 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9468\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9508 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9468\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9509 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.44pt\"></span></span><span class=\"ps9483\">10,337</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9510 ss697\"><div><div class=\"ps2693 ss695\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.44pt\"></span></span><span class=\"ps9483\">10,337</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7498 ss0\"><div class=\"ss177 ws0 ps1056\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:120pt\"></td><td style=\"padding:0;width:74.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss698\"><div><div class=\"ps9452 ss315\"><span class=\"f charStyle-4979afbe ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9514 ss699\"><div><div class=\"ps4321 ss164\"><span class=\"f charStyle-281247bf ps9512\">Leasehold <span class=\"f ps43\"> </span></span></div><div class=\"ps4323 ss164\"><span class=\"f charStyle-281247bf ps9513\">equipment</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7247 ss699\"><div><div class=\"ps4321 ss164\"><span class=\"f charStyle-281247bf ps6114\">Warehouse <span class=\"f ps43\"> </span></span></div><div class=\"ps4323 ss164\"><span class=\"f charStyle-281247bf ps9515\">facilities</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9517 ss699\"><div><div class=\"ps2173 ss164\"><span class=\"f charStyle-281247bf ps9516\">Office space<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2120 ss699\"><div><div class=\"ps2173 ss164\"><span class=\"f charStyle-281247bf ps6506\">Total<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps3692 ss700\"><div><div class=\"ps5618 ss315\"><span class=\"f charStyle-b07b4361 ps42\">Cost 2023<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps9460 ss700\"><div><div class=\"ps2693 ss315\"><span class=\"f charStyle-1bac868e ps633\">Beginning of financial year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9518 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">464</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9519 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9520 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6516\">1,681</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9521 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6516\">2,145</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps9467 ss700\"><div><div class=\"ps2693 ss315\"><span class=\"f charStyle-1bac868e ps633\">Acquisition of businesses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9522 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9523 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">421</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9524 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">612</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9525 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6516\">1,033</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps9474 ss700\"><div><div class=\"ps2693 ss315\"><span class=\"f charStyle-1bac868e ps633\">Exchange differences<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps9527 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.24pt\"></span></span><span class=\"ps9526\">(12)</span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:24.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9480 ss700\"><div><div class=\"ps2693 ss315\"><span class=\"f charStyle-23b55a92 ps42\">31 December 2023<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9528 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8812\">464</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9529 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8812\">409</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9530 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.11pt\"></span></span><span class=\"ps6623\">2,261</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9531 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.11pt\"></span></span><span class=\"ps6623\">3,134</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9486 ss700\"><div><div class=\"ps2693 ss315\"><span class=\"f charStyle-b07b4361 ps42\">Accumulated depreciation<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps9487 ss700\"><div><div class=\"ps2693 ss315\"><span class=\"f charStyle-1bac868e ps633\">Beginning of financial year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9532 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">381</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9533 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9534 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6516\">1,477</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9535 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6516\">1,858</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps9492 ss700\"><div><div class=\"ps2693 ss315\"><span class=\"f charStyle-1bac868e ps633\">Depreciation charge<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9536 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.52pt\"></span></span><span class=\"ps6646\">83</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9537 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.52pt\"></span></span><span class=\"ps6646\">30</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9538 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">221</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9539 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8759\">334</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps4626 ss700\"><div><div class=\"ps2693 ss315\"><span class=\"f charStyle-1bac868e ps633\">Exchange differences<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps9541 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:54.95pt\"></span></span><span class=\"ps9540\">(6)</span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:24.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9501 ss700\"><div><div class=\"ps2693 ss315\"><span class=\"f charStyle-23b55a92 ps42\">31 December 2023<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9542 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8812\">464</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9544 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:54.88pt\"></span></span><span class=\"ps9543\">24</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9545 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.11pt\"></span></span><span class=\"ps6623\">1,673</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9546 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.11pt\"></span></span><span class=\"ps6623\">2,161</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps6618 ss700\"><div><div class=\"ps2693 ss315\"><span class=\"f charStyle-b07b4361 ps42\">Carrying amount<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9547 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9548 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8812\">385</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9549 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8812\">588</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9550 ss546\"><div><div class=\"ps2693 ss164\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8812\">973</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7498 ss0\"><div class=\"ss194 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:191.25pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss702\"><div><div class=\"ps9452 ss701\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9551 ss703\"><div><div class=\"ps6213 ss298\"><span class=\"f charStyle-281247bf ps3727\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9552 ss703\"><div><div class=\"ps6213 ss298\"><span class=\"f charStyle-054ead99 ps3727\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5299 ss703\"><div><div class=\"ps6213 ss298\"><span class=\"f charStyle-054ead99 ps3727\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps3692 ss702\"><div><div class=\"ps9553 ss701\"><span class=\"f charStyle-1bac868e ps633\">Lease liabilities at 1 January (current and <span class=\"f ps43\"> </span></span></div><div class=\"ps6213 ss701\"><span class=\"f charStyle-1bac868e ps633\">non-current lease)</span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9554 ss703\"><div><div class=\"ps6213 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7253\">10,971</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9556 ss703\"><div><div class=\"ps6213 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">993</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9557 ss703\"><div><div class=\"ps6213 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">279</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps2154 ss704\"><div><div class=\"ps4278 ss701\"><span class=\"f charStyle-1bac868e ps633\">Acquisition of subsidiaries<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9558 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9559 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9560 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7271\">1,299</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps2158 ss704\"><div><div class=\"ps4278 ss701\"><span class=\"f charStyle-1bac868e ps633\">Additions during the year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9561 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7271\">4,640</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9562 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7253\">11,909</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9563 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps2072 ss704\"><div><div class=\"ps4278 ss701\"><span class=\"f charStyle-1bac868e ps633\">Exchange differences<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9564 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9566 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.27pt\"></span></span><span class=\"ps9565\">30</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9568 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.85pt\"></span></span><span class=\"ps9567\">(16)</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2166 ss704\"><div><div class=\"ps4278 ss701\"><span class=\"f charStyle-1bac868e ps633\">Repayment of lease obligations<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9570 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.2pt\"></span></span><span class=\"ps9569\">(2,072)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9571 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.2pt\"></span></span><span class=\"ps9569\">(1,961)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9573 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46pt\"></span></span><span class=\"ps9572\">(569)</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2001 ss704\"><div><div class=\"ps4278 ss701\"><span class=\"f charStyle-b07b4361 ps42\">Total lease liabilities at 31 December<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9574 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7284\">13,539</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9575 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7284\">10,971</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9577 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.46pt\"></span></span><span class=\"ps9576\">993</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8252 ss704\"><div><div class=\"ps4278 ss701\"><span class=\"f charStyle-b07b4361 ps42\">Current<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9579 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-23b55a92 ps9578\">1,057<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9580 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-b07b4361 ps9578\">1,274<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9582 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-b07b4361 ps9581\">601<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps7381 ss704\"><div><div class=\"ps4278 ss701\"><span class=\"f charStyle-b07b4361 ps42\">Non-current<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9584 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-23b55a92 ps9583\">12,482<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9585 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-b07b4361 ps9578\">9,697<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9586 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-b07b4361 ps9581\">392<span class=\"f ps43\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps9588 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Leas interest expenses recognised in profit and loss </span></div><div class=\"ps9589 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps186\">1.<span class=\"f ps43\"> </span></span><span class=\"f charStyle-4ecd4cad ps1760\">Interest expense</span></div><div class=\"ps9593 ss0\"><div class=\"ss194 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:191.25pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss704\"><div><div class=\"ps6190 ss701\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9551 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-281247bf ps3727\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9552 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-054ead99 ps3727\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5299 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-054ead99 ps3727\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:27pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4283 ss706\"><div><div class=\"ps8707 ss701\"><span class=\"f charStyle-1bac868e ps633\">Interest expense on lease liabilities (vessels <span class=\"f ps43\"> </span></span></div><div class=\"ps8708 ss701\"><span class=\"f charStyle-1bac868e ps633\">and office)</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9590 ss707\"><div><div class=\"ps8708 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">746</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9591 ss707\"><div><div class=\"ps8708 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">428</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9592 ss707\"><div><div class=\"ps8708 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.27pt\"></span></span><span class=\"ps9565\">25</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps4203 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps186\">1.<span class=\"f ps43\"> </span></span><span class=\"f charStyle-4ecd4cad ps1760\">Lease expense not capitalised in lease liabilities</span></div><div class=\"ps9594 ss0\"><div class=\"ss194 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:191.25pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss704\"><div><div class=\"ps6190 ss701\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9551 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-281247bf ps3727\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9552 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-054ead99 ps3727\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5299 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-054ead99 ps3727\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4283 ss708\"><div><div class=\"ps44 ss701\"><span class=\"f charStyle-1bac868e ps633\">Short-term lease expense<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9590 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">614</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9591 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">477</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9592 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">180</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6933 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Total cas</span><span class=\"f charStyle-c1b8f9f6 ps9595\">h ou</span><span class=\"f charStyle-c1b8f9f6 ps9596\">tflow for all leases in </span><span class=\"f charStyle-c1b8f9f6 ps9597\">2025</span><span class=\"f charStyle-c1b8f9f6 ps9598\">, </span><span class=\"f charStyle-c1b8f9f6 ps9599\">2024</span><span class=\"f charStyle-c1b8f9f6 ps9600\"> and </span><span class=\"f charStyle-c1b8f9f6 ps9601\">2023</span><span class=\"f charStyle-c1b8f9f6 ps9602\"> were</span><span class=\"f charStyle-c1b8f9f6 ps9603\"> </span><span class=\"f charStyle-c1b8f9f6 ps9604\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9605\"> </span><span class=\"f charStyle-c1b8f9f6 ps9606\">2,686</span><span class=\"f charStyle-c1b8f9f6 ps9607\"> thousand</span><span class=\"f charStyle-c1b8f9f6 ps9608\">, </span><span class=\"f charStyle-c1b8f9f6 ps9609\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9610\"> </span><span class=\"f charStyle-c1b8f9f6 ps9611\">1,152\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps9612\"> and </span></div><div class=\"ps9616 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">283\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps9613\"> respectively, excluding variable lease fee (refer to </span><span class=\"f charStyle-c1b8f9f6 ps9614\">Note 24). Please refer to Note 28</span><span class=\"f charStyle-c1b8f9f6 ps9615\"> for </span></div>disclosure on lease commitments.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-560": {
   "value": "<div class=\"ps9588 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Leas interest expenses recognised in profit and loss </span></div><div class=\"ps9589 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps186\">1.<span class=\"f ps43\"> </span></span><span class=\"f charStyle-4ecd4cad ps1760\">Interest expense</span></div><div class=\"ps9593 ss0\"><div class=\"ss194 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:191.25pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss704\"><div><div class=\"ps6190 ss701\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9551 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-281247bf ps3727\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9552 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-054ead99 ps3727\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5299 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-054ead99 ps3727\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:27pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4283 ss706\"><div><div class=\"ps8707 ss701\"><span class=\"f charStyle-1bac868e ps633\">Interest expense on lease liabilities (vessels <span class=\"f ps43\"> </span></span></div><div class=\"ps8708 ss701\"><span class=\"f charStyle-1bac868e ps633\">and office)</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9590 ss707\"><div><div class=\"ps8708 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">746</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9591 ss707\"><div><div class=\"ps8708 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">428</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9592 ss707\"><div><div class=\"ps8708 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.27pt\"></span></span><span class=\"ps9565\">25</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps4203 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps186\">1.<span class=\"f ps43\"> </span></span><span class=\"f charStyle-4ecd4cad ps1760\">Lease expense not capitalised in lease liabilities</span></div><div class=\"ps9594 ss0\"><div class=\"ss194 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:191.25pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss704\"><div><div class=\"ps6190 ss701\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9551 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-281247bf ps3727\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9552 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-054ead99 ps3727\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5299 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-054ead99 ps3727\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4283 ss708\"><div><div class=\"ps44 ss701\"><span class=\"f charStyle-1bac868e ps633\">Short-term lease expense<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9590 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">614</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9591 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">477</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9592 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">180</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6933 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Total cas</span><span class=\"f charStyle-c1b8f9f6 ps9595\">h ou</span><span class=\"f charStyle-c1b8f9f6 ps9596\">tflow for all leases in </span><span class=\"f charStyle-c1b8f9f6 ps9597\">2025</span><span class=\"f charStyle-c1b8f9f6 ps9598\">, </span><span class=\"f charStyle-c1b8f9f6 ps9599\">2024</span><span class=\"f charStyle-c1b8f9f6 ps9600\"> and </span><span class=\"f charStyle-c1b8f9f6 ps9601\">2023</span><span class=\"f charStyle-c1b8f9f6 ps9602\"> were</span><span class=\"f charStyle-c1b8f9f6 ps9603\"> </span><span class=\"f charStyle-c1b8f9f6 ps9604\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9605\"> </span><span class=\"f charStyle-c1b8f9f6 ps9606\">2,686</span><span class=\"f charStyle-c1b8f9f6 ps9607\"> thousand</span><span class=\"f charStyle-c1b8f9f6 ps9608\">, </span><span class=\"f charStyle-c1b8f9f6 ps9609\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9610\"> </span><span class=\"f charStyle-c1b8f9f6 ps9611\">1,152\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps9612\"> and </span></div><div class=\"ps9616 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">283\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps9613\"> respectively, excluding variable lease fee (refer to </span><span class=\"f charStyle-c1b8f9f6 ps9614\">Note 24). Please refer to Note 28</span><span class=\"f charStyle-c1b8f9f6 ps9615\"> for </span></div><div class=\"ps9617 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">disclosure on lease commitments. </span></div><div class=\"ps9621 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Lease liabilities<span id=\"i906fb04c707e4a55b0265cca42759d6e\"></span></span></div><div class=\"ps2679 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">At the inception of a contract, the Group assesses whether the contract contains a lease. A contract contains </span></div><div class=\"ps2680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">a lease if it conveys the right to control the use of an identified asset for a period of time in exchange for </span></div><div class=\"ps2681 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">consideration. Reassessment is required only when the terms and conditions of the contract are changed.</span></div><div class=\"ps6983 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">At the commencement date of the lease, the Group recognises lease liabilities measured at the present </span></div><div class=\"ps9283 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">value of lease payments to be made over the lease term. The lease payments include fixed payments </span></div><div class=\"ps9289 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(including in-substance fixed payments) less any lease incentives receivable, variable lease payments that </span></div><div class=\"ps9294 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">depend on an index or a rate, and amounts expected to be paid under residual value guarantees.</span></div><div class=\"ps2983 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Variable lease payments that do not depend on an index or a rate are recognised as expenses in the period </span></div><div class=\"ps2984 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">in which the event or condition that triggers the payment occurs. Utilisation based lease fees are classified <span class=\"f ps43\"> </span></span></div><div class=\"ps2985 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">as variable lease payments.</span></div><div class=\"ps2986 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the </span></div><div class=\"ps2987 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">lease commencement date, as the interest rate implicit in the lease is not readily determinable. After the </span></div><div class=\"ps2988 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">commencement date, the carrying amount of lease liabilities is increased to reflect the accretion of interest </span></div><div class=\"ps2989 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">and reduced by lease payments made.</span></div><div class=\"ps2990 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the </span></div><div class=\"ps2991 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an </span></div><div class=\"ps3118 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">index or rate used to determine such lease payments) or a change in the assessment of an option to </span></div><div class=\"ps3119 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">purchase the underlying asset.</span></div><div class=\"ps9626 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Short-term and low-value leases<span id=\"i47c0a14c77d249589203643c44fd375a\"></span></span></div><div class=\"ps9627 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group has elected not to recognise right-of-use assets and lease liabilities for short-term leases with </span></div><div class=\"ps9369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">lease terms of </span><span class=\"f charStyle-c1b8f9f6 ps7514\">twelve months</span><span class=\"f charStyle-c1b8f9f6 ps9628\"> or less, and for low-value leases. Lease payments relating to these leases are </span></div><div class=\"ps9370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">expensed to profit or loss on a straight-line basis over the lease term. Short-term and low-value leases </span></div><div class=\"ps9371 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">include cars, coffee machines, office premises and AV equipment.</span></div><div class=\"ps9760 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies<span id=\"id45d7b41ad8e457a85cd27d16fcb0747\"></span></span></div><div class=\"ps9761 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Financial assets<span id=\"i84d16ac46774406bb2607018955ce9e3\"></span></span></div><div class=\"ps9762 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The classification of financial assets depends on the Group\u2019s business model for managing the financial </span></div><div class=\"ps9763 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">assets as well as the contractual terms of the cash flows of the respective financial assets.</span></div><div class=\"ps3382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1760\">(1)<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1761\">At initial recognition: the Group measures a financial asset at fair value, plus, in the case of a </span></div><div class=\"ps3384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">financial asset not measured at fair value through profit or loss, transaction costs that are directly </span></div><div class=\"ps3385 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">attributable to the acquisition of the financial assets. Transaction costs of financial assets carried at </span></div><div class=\"ps3386 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">fair value through profit or loss are recognised as an expense in profit or loss.</span></div><div class=\"ps2680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1760\">(1i)<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1761\">At subsequent measurement: the Group\u2019s financial assets mainly comprise cash and bank balances, </span></div><div class=\"ps2681 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">trade receivables and other current assets.</span></div><div class=\"ps9622 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Interest income from these financial assets is recognised using the effective interest rate method.</span></div><div class=\"ps2357 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group assesses on a forward-looking basis the expected credit losses associated with its financial assets </span></div><div class=\"ps2358 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">carried at amortised cost. For trade and other receivables, the Group applied the simplified approach </span></div><div class=\"ps2359 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">permitted by IFRS 9, which requires lifetime expected losses to be recognised from initial recognition of the </span></div><div class=\"ps2360 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">receivables.</span></div><div class=\"ps7019 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-644c6314 ps1008\">Change in debts to credit institutions during the year</span></div><div class=\"ps10466 ss0\"><div class=\"ss177 ws0 ps1056\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:239.25pt\"></td><td style=\"padding:0;width:59.25pt\"></td><td style=\"padding:0;width:59.25pt\"></td><td style=\"padding:0;width:59.25pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss744\"><div><div class=\"ps7604 ss600\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7518 ss745\"><div><div class=\"ps4431 ss148\"><span class=\"f charStyle-281247bf ps6077\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10358 ss745\"><div><div class=\"ps4431 ss148\"><span class=\"f charStyle-054ead99 ps6077\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6040 ss745\"><div><div class=\"ps4431 ss148\"><span class=\"f charStyle-054ead99 ps6077\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps442 ss744\"><div><div class=\"ps438 ss600\"><span class=\"f charStyle-1bac868e ps633\">Debt to credit institutions at 1 January<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10446 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10445\">(571,017)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10447 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10445\">(205,572)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7717 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10445\">(115,002)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps463 ss744\"><div><div class=\"ps438 ss600\"><span class=\"f charStyle-1bac868e ps633\">Loans repayments<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10448 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10378\">279,281</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10449 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10361\">10,630</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7720 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10378\">115,000</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5507 ss744\"><div><div class=\"ps438 ss600\"><span class=\"f charStyle-1bac868e ps633\">Proceeds from borrowing<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10451 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:6.95pt\"></span></span><span class=\"ps10450\">(1,337,178)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10452 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10445\">(385,234)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7724 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10445\">(211,934)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5516 ss744\"><div><div class=\"ps438 ss600\"><span class=\"f charStyle-1bac868e ps633\">New loan fees<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10453 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10361\">25,193</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10454 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10361\">11,100</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7726 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10373\">8,262</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5521 ss744\"><div><div class=\"ps438 ss600\"><span class=\"f charStyle-1bac868e ps633\">Non-cash movements<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10456 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10455\">(7,033)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10457 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10455\">(1,941)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7729 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10363\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5526 ss744\"><div><div class=\"ps438 ss600\"><span class=\"f charStyle-1bac868e ps633\">Write-off of loan fees<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10458 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10363\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10459 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10363\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10460 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10455\">(1,898)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps62 ss744\"><div><div class=\"ps438 ss600\"><span class=\"f charStyle-b07b4361 ps42\">Debt to credit institutions at 31 December 2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10462 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:2.53pt\"></span></span><span class=\"ps10461\">(1,610,754)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10464 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:10.13pt\"></span></span><span class=\"ps10463\">(571,017)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10465 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:10.13pt\"></span></span><span class=\"ps10463\">(205,572)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Capital management<span id=\"i025d8568241546d6b01fee9b47d8e40f\"></span></span></div><div class=\"ps372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Company\u2019s objectives when managing capital are to ensure the </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Company\u2019s ability to continue as a going concern and to maintain an </span></div><div class=\"ps400 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">optimal capital structure.</span></div><div class=\"ps375 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In order to achieve this overall objective, the Company\u2019s capital </span></div><div class=\"ps376 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">management aims, among other things, to ensure compliance wth </span></div><div class=\"ps377 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the financial covenants attached to the interest-bearing loans and </span></div><div class=\"ps378 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">borrowings that define capital structure requirements. A breach of </span></div><div class=\"ps379 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the financial covenants would permit the bank to immediately call </span></div><div class=\"ps401 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">loans and borrowings. There have been no breaches of the financial </span></div><div class=\"ps402 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">covenants of any interest-bearing loans and borrowing in the current </span></div><div class=\"ps10479 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">period.</span></div><div class=\"ps383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In order to maintain or adjust the capital structure in the future, the </span></div><div class=\"ps384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Group may adjust dividend payments to shareholders, issue new </span></div><div class=\"ps403 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">shares and/or dispose of assets to reduce debt. Pursuant to the </span></div><div class=\"ps429 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Green Corporate Facility, the Company is not permitted to pay any </span></div><div class=\"ps430 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">dividends or other distributions without the prior written consent of </span></div><div class=\"ps431 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">DNB Bank ASA.</span></div><div><div id=\"i60a9312555114c61b3ebee7078e135c5_12094627907821\" style=\"position:absolute;top:42.52pt\"></div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 25</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Financial Liabilities: Interest-bearing Loans and Borrowings<span id=\"ia0b999c032cd4b8fa64ba3530eed0930\"></span></span></div><div class=\"ps9276 ss0\"><div class=\"ss790 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:191.25pt\"></td><td style=\"padding:0;width:144.75pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:105.75pt\"></td><td style=\"padding:0;width:75.75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:78pt\"></td><td style=\"padding:0;width:65.25pt\"></td><td style=\"padding:0;width:65.25pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps40 ss746\"><div><div class=\"ps4431 ss701\"><span class=\"f charStyle-b07b4361 ps42\">As of 31 December 2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td colspan=\"3\" style=\"padding:0\"><div class=\"ps10900 ss787\"><div><div class=\"ps4431 ss786\"><span class=\"f charStyle-b07b4361 ps10899\">Committed (EUR millions)<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"padding:0\"><div class=\"ps10901 ss789\"><div><div class=\"ps7604 ss788\"><span class=\"f charStyle-64a4cf84 ps42\">Related derivatives contracts<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps442 ss713\"><div><div class=\"ps8179 ss701\"><span class=\"f charStyle-4979afbe ps42\">EUR Millions<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10793 ss772\"><div><div class=\"ps8179 ss432\"><span class=\"f charStyle-4979afbe ps42\">Interest rate<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10794 ss473\"><div><div class=\"ps8179 ss337\"><span class=\"f charStyle-4979afbe ps42\">Maturity<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10795 ss774\"><div><div class=\"ps8179 ss773\"><span class=\"f charStyle-4979afbe ps42\">Covenants<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10796 ss776\"><div><div class=\"ps5618 ss775\"><span class=\"f charStyle-281247bf ps3979\">Utilised<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10799 ss304\"><div><div class=\"ps5619 ss298\"><span class=\"f charStyle-281247bf ps10797\">Accumulated <span class=\"f ps43\"> </span></span></div><div class=\"ps5618 ss298\"><span class=\"f charStyle-281247bf ps10798\">repayments</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10801 ss777\"><div><div class=\"ps5618 ss317\"><span class=\"f charStyle-281247bf ps10800\">Unutilised<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10803 ss778\"><div><div class=\"ps8179 ss242\"><span class=\"f charStyle-4979afbe ps10802\">Average IRS rate<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10807 ss778\"><div><div class=\"ps10805 ss242\"><span class=\"f charStyle-4979afbe ps10804\">IRS nominal (EUR <span class=\"f ps43\"> </span></span></div><div class=\"ps8179 ss242\"><span class=\"f charStyle-4979afbe ps10806\">millions)</span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps1980 ss779\"><div><div class=\"ps4584 ss701\"><span class=\"f charStyle-b07b4361 ps42\">Secured<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps2129 ss779\"><div><div class=\"ps4584 ss701\"><span class=\"f charStyle-1bac868e ps633\">Green Corporate Facility (RCF + term loan)<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10812 ss780\"><div><div class=\"ps4584 ss432\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3797\">3 months EURIBOR + </span><span class=\"f charStyle-36184c7f ps10809\">2%</span><span class=\"f charStyle-36184c7f ps10810\"> - </span><span class=\"f charStyle-36184c7f ps10811\">2.75%</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10814 ss481\"><div><div class=\"ps4584 ss337\"><span class=\"f charStyle-e5ec5c44 ps10813\">2032<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10816 ss781\"><div><div class=\"ps4584 ss773\"><span class=\"f charStyle-e5ec5c44 ps10815\">Yes - refer to page 203<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10818 ss782\"><div><div class=\"ps4584 ss775\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:52.17pt\"></span></span><span class=\"ps10817\">283</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10819 ss783\"><div><div class=\"ps4584 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.85pt\"></span></span><span class=\"ps9567\">(87)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10821 ss784\"><div><div class=\"ps4584 ss317\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:54.42pt\"></span></span><span class=\"ps10820\">148</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10823 ss785\"><div><div class=\"ps4584 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps10822\"></span><span class=\"ps10822\">2.7</span><span class=\"ps5307\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10824 ss785\"><div><div class=\"ps4584 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.67pt\"></span></span><span class=\"ps9782\">247</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5946 ss779\"><div><div class=\"ps4584 ss701\"><span class=\"f charStyle-1bac868e ps633\">Green Corporate Facility - Guarantee<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10827 ss780\"><div><div class=\"ps4584 ss432\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3797\">0.8%</span><span class=\"f charStyle-36184c7f ps10825\"> - </span><span class=\"f charStyle-36184c7f ps10826\">1.2%</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10828 ss481\"><div><div class=\"ps4584 ss337\"><span class=\"f charStyle-e5ec5c44 ps10813\">2026<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10829 ss781\"><div><div class=\"ps4584 ss773\"><span class=\"f charStyle-e5ec5c44 ps10815\">Yes - refer to page 203<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10830 ss782\"><div><div class=\"ps4584 ss775\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:52.17pt\"></span></span><span class=\"ps10817\">157</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10831 ss783\"><div><div class=\"ps4584 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10833 ss784\"><div><div class=\"ps4584 ss317\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:59.27pt\"></span></span><span class=\"ps10832\">43</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10834 ss785\"><div><div class=\"ps4584 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\"></span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2883 ss779\"><div><div class=\"ps4584 ss701\"><span class=\"f charStyle-b07b4361 ps42\">Total Green Corporate Facility<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10836 ss782\"><div><div class=\"ps4584 ss775\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.21pt\"></span></span><span class=\"ps10835\">440</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10838 ss783\"><div><div class=\"ps4584 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.99pt\"></span></span><span class=\"ps10837\">(87)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10840 ss784\"><div><div class=\"ps4584 ss317\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:53.46pt\"></span></span><span class=\"ps10839\">191</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps5677 ss779\"><div><div class=\"ps4584 ss701\"><span class=\"f charStyle-1bac868e ps633\">P-Class Facility\u00b9<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10841 ss780\"><div><div class=\"ps4584 ss432\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3797\">3 months EURIBOR + </span><span class=\"f charStyle-36184c7f ps10809\">1.6%</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10842 ss481\"><div><div class=\"ps4584 ss337\"><span class=\"f charStyle-e5ec5c44 ps10813\">2037<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10843 ss781\"><div><div class=\"ps4584 ss773\"><span class=\"f charStyle-e5ec5c44 ps10815\">Yes - refer to page 203<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10844 ss782\"><div><div class=\"ps4584 ss775\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:52.17pt\"></span></span><span class=\"ps10817\">421</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10845 ss783\"><div><div class=\"ps4584 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.85pt\"></span></span><span class=\"ps9567\">(35)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10847 ss784\"><div><div class=\"ps4584 ss317\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:59.97pt\"></span></span><span class=\"ps10846\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10848 ss785\"><div><div class=\"ps4584 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps10822\"></span><span class=\"ps10822\">3.0</span><span class=\"ps5307\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10849 ss785\"><div><div class=\"ps4584 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.87pt\"></span></span><span class=\"ps7269\">105.1</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps10850 ss779\"><div><div class=\"ps4584 ss701\"><span class=\"f charStyle-1bac868e ps633\">A-Class Facility I &amp; II<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10851 ss780\"><div><div class=\"ps4584 ss432\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3797\">3 months EURIBOR + </span><span class=\"f charStyle-36184c7f ps10809\">1.6%</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10852 ss481\"><div><div class=\"ps4584 ss337\"><span class=\"f charStyle-e5ec5c44 ps10813\">2037<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10853 ss781\"><div><div class=\"ps4584 ss773\"><span class=\"f charStyle-e5ec5c44 ps10815\">Yes - refer to page 203<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10854 ss782\"><div><div class=\"ps4584 ss775\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:52.17pt\"></span></span><span class=\"ps10817\">262</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10856 ss783\"><div><div class=\"ps4584 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.7pt\"></span></span><span class=\"ps10855\">(5)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10857 ss784\"><div><div class=\"ps4584 ss317\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:54.42pt\"></span></span><span class=\"ps10820\">263</span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps2098 ss779\"><div><div class=\"ps4584 ss701\"><span class=\"f charStyle-1bac868e ps633\">Wind Keeper Facility<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10858 ss780\"><div><div class=\"ps4584 ss432\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3797\">3 months EURIBOR + </span><span class=\"f charStyle-36184c7f ps10809\">2.1%</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10859 ss481\"><div><div class=\"ps4584 ss337\"><span class=\"f charStyle-e5ec5c44 ps10813\">2030<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10860 ss781\"><div><div class=\"ps4584 ss773\"><span class=\"f charStyle-e5ec5c44 ps10815\">Yes - refer to page 203<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10861 ss782\"><div><div class=\"ps4584 ss775\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:52.17pt\"></span></span><span class=\"ps10817\">125</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10862 ss783\"><div><div class=\"ps4584 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10863 ss784\"><div><div class=\"ps4584 ss317\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:59.97pt\"></span></span><span class=\"ps10846\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10864 ss779\"><div><div class=\"ps4584 ss701\"><span class=\"f charStyle-1bac868e ps633\">M-Class Facility I &amp; II<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10865 ss780\"><div><div class=\"ps4584 ss432\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3797\">3 months EURIBOR + </span><span class=\"f charStyle-36184c7f ps10809\">2.5%</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10866 ss481\"><div><div class=\"ps4584 ss337\"><span class=\"f charStyle-e5ec5c44 ps10813\">2037<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10867 ss781\"><div><div class=\"ps4584 ss773\"><span class=\"f charStyle-e5ec5c44 ps10815\">Yes - refer to page 203<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10868 ss782\"><div><div class=\"ps4584 ss775\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:52.17pt\"></span></span><span class=\"ps10817\">420</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10869 ss783\"><div><div class=\"ps4584 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.85pt\"></span></span><span class=\"ps9567\">(13)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10870 ss784\"><div><div class=\"ps4584 ss317\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:59.97pt\"></span></span><span class=\"ps10846\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10871 ss785\"><div><div class=\"ps4584 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\"></span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps6005 ss779\"><div><div class=\"ps4584 ss701\"><span class=\"f charStyle-b07b4361 ps42\">Unsecured<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps10872 ss779\"><div><div class=\"ps4584 ss701\"><span class=\"f charStyle-1bac868e ps633\">HoldCo Facility<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10873 ss780\"><div><div class=\"ps4584 ss432\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3797\">3 months EURIBOR + </span><span class=\"f charStyle-36184c7f ps10809\">4%</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10874 ss481\"><div><div class=\"ps4584 ss337\"><span class=\"f charStyle-e5ec5c44 ps10813\">2028<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10875 ss781\"><div><div class=\"ps4584 ss773\"><span class=\"f charStyle-1bac868e ps42\">Yes - refer to page 203<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10876 ss782\"><div><div class=\"ps4584 ss775\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:52.17pt\"></span></span><span class=\"ps10817\">125</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10877 ss783\"><div><div class=\"ps4584 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10878 ss784\"><div><div class=\"ps4584 ss317\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:59.97pt\"></span></span><span class=\"ps10846\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps5746 ss779\"><div><div class=\"ps4584 ss701\"><span class=\"f charStyle-1bac868e ps633\">HoldCo Facility II<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10879 ss780\"><div><div class=\"ps4584 ss432\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3797\">3 months EURIBOR + </span><span class=\"f charStyle-36184c7f ps10809\">4%</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10880 ss481\"><div><div class=\"ps4584 ss337\"><span class=\"f charStyle-e5ec5c44 ps10813\">2030<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10881 ss781\"><div><div class=\"ps4584 ss773\"><span class=\"f charStyle-1bac868e ps42\">Yes - refer to page 203<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10883 ss782\"><div><div class=\"ps4584 ss775\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:57.02pt\"></span></span><span class=\"ps10882\">60</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10884 ss783\"><div><div class=\"ps4584 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10885 ss784\"><div><div class=\"ps4584 ss317\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:59.97pt\"></span></span><span class=\"ps10846\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps10434 ss779\"><div><div class=\"ps4584 ss701\"><span class=\"f charStyle-1bac868e ps633\">Unsecured guarantee facility<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10886 ss781\"><div><div class=\"ps4584 ss773\"><span class=\"f charStyle-1bac868e ps42\">Yes - refer to page 203<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10887 ss782\"><div><div class=\"ps4584 ss775\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:57.02pt\"></span></span><span class=\"ps10882\">43</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10888 ss783\"><div><div class=\"ps4584 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10890 ss784\"><div><div class=\"ps4584 ss317\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:64.12pt\"></span></span><span class=\"ps10889\">7</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10891 ss785\"><div><div class=\"ps4584 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\"></span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10892 ss785\"><div><div class=\"ps4584 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\"></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"background-color:#206079;padding:0\"><div class=\"ps5338 ss779\"><div><div class=\"ps4584 ss701\"><span class=\"f charStyle-23b55a92 ps42\">Total (excluding Guarantee facility)<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"></td><td style=\"background-color:#206079;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10895 ss782\"><div><div class=\"ps4584 ss775\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.98pt\"></span></span><span class=\"ps10893\">1,696</span><span class=\"ps10894\">\u00b2</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10897 ss783\"><div><div class=\"ps4584 ss298\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.82pt\"></span></span><span class=\"ps10896\">(140)</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10898 ss784\"><div><div class=\"ps4584 ss317\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:53.46pt\"></span></span><span class=\"ps10839\">411</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"></td><td style=\"background-color:#206079;padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps10931 ss0\"><div class=\"ss791 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:770.25pt\"></td></tr><tr style=\"height:26.25pt\"><td style=\"padding:0\"><div class=\"ps40 ss792\"><div><div class=\"ps10920 ss791\" style=\"font-size:12pt\"><span class=\"f charStyle-f8d16a17 ps10902\"><sup>1 </sup></span><span class=\"f charStyle-df865089 ps10903\">For the P-class Facility, up to </span><span class=\"f charStyle-df865089 ps10904\">EUR</span><span class=\"f charStyle-df865089 ps10905\"> </span><span class=\"f charStyle-df865089 ps10906\">425</span><span class=\"f charStyle-df865089 ps10907\"> million, </span><span class=\"f charStyle-df865089 ps10908\">EUR</span><span class=\"f charStyle-df865089 ps10909\"> </span><span class=\"f charStyle-df865089 ps10910\">214</span><span class=\"f charStyle-df865089 ps10911\">million was available for Wind Peak of which </span><span class=\"f charStyle-df865089 ps10912\">EUR</span><span class=\"f charStyle-df865089 ps10913\"> </span><span class=\"f charStyle-df865089 ps10914\">421 million</span><span class=\"f charStyle-df865089 ps10915\"> has been utilised and the remaining </span><span class=\"f charStyle-df865089 ps10916\">EUR</span><span class=\"f charStyle-58d8bcbe ps10917\"> </span><span class=\"f charStyle-df865089 ps10918\">4</span><span class=\"f charStyle-df865089 ps10919\"> million lapsed. </span></div><div class=\"ps10930 ss791\" style=\"font-size:12pt\"><span class=\"f charStyle-f8d16a17 ps10902\"><sup>2</sup></span><span class=\"f charStyle-df865089 ps10921\"> The difference between </span><span class=\"f charStyle-df865089 ps10922\">EUR</span><span class=\"f charStyle-df865089 ps10923\"> </span><span class=\"f charStyle-df865089 ps10924\">1,696 million</span><span class=\"f charStyle-df865089 ps10925\"> and the carrying amount of </span><span class=\"f charStyle-df865089 ps10926\">EUR</span><span class=\"f charStyle-58d8bcbe ps10927\"> </span><span class=\"f charStyle-df865089 ps10928\">1,611 million</span><span class=\"f charStyle-df865089 ps10929\"> is mainly related to interest and fees.</span></div></div></div></td></tr></tbody></table></div></div></div></div><div class=\"ps10935 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Green Corporate Facility (formerly referred to as \u201cNew <span id=\"i4641db1b21454607875c215d46850a8c\"></span></span></div><div class=\"ps10936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">debt Facility\u201d)</span></div><div class=\"ps10937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In December 2023, Cadeler announced the signing of a EUR </span></div><div class=\"ps8924 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">550\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10938\"> Senior Secured Green Facilities, the \u201cGreen Corporate </span></div><div class=\"ps7335 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Facility\u201d, with a group of banks led by DNB and supported by </span></div><div class=\"ps6971 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Rabobank, Credit Agricole, Danske Bank, Oversea-Chinese Banking </span></div><div class=\"ps7347 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Corporation (\u201cOCBC\u201d), Standard Chartered Bank and Soci\u00e9t\u00e9 </span></div><div class=\"ps9336 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">G\u00e9n\u00e9rale.</span></div><div class=\"ps6974 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The main objective of the Green Corporate Facility is to refinance </span></div><div class=\"ps9339 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">and fund upgrades to existing vessels, as well as to provide funding </span></div><div class=\"ps9340 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">for general corporate and working capital purposes.</span></div><div class=\"ps8936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Green Corporate Facility comprises two RCFs amounting to EUR </span></div><div class=\"ps8937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">350\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10938\">, a EUR </span><span class=\"f charStyle-c1b8f9f6 ps10939\">100\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10940\"> term loan guaranteed by The Danish </span></div><div class=\"ps9343 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Export and Investment Fund of Denmark (EIFO) and a EUR </span></div><div class=\"ps10941 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">200\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10938\"> uncommitted Guarantee facility.</span></div><div class=\"ps10942 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Holdco Facility<span id=\"idc8116543ec04d0085a457bedbf8be4f\"></span></span></div><div class=\"ps8939 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In November 2023, Cadeler entered into a bilateral unsecured </span></div><div class=\"ps10945 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Green Loan Facility with HSBC of EUR </span><span class=\"f charStyle-c1b8f9f6 ps10943\">80\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10944\">, which was upsized </span></div><div class=\"ps10948 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">to EUR </span><span class=\"f charStyle-c1b8f9f6 ps10946\">125\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10947\"> during 2024. The main purpose of the facility has </span></div><div class=\"ps3200 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">been to pre-finance the construction of the P-class and A-class </span></div><div class=\"ps10949 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">newbuild vessels in addition to the upgrade of the existing O-class </span></div><div class=\"ps9374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">vessels.</span></div><div class=\"ps10950 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In November 2025, Cadeler entered into a second unsecured Green </span></div><div class=\"ps10954 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Loan Facility with HSBC and C</span><span class=\"f charStyle-c1b8f9f6 ps10951\">lifford Capital of EUR </span><span class=\"f charStyle-c1b8f9f6 ps10952\">60\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10953\"> with a </span></div><div class=\"ps10957 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">non-committed accordion option of up to EUR </span><span class=\"f charStyle-c1b8f9f6 ps10955\">80\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10956\">.</span></div><div class=\"ps10958 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">As of 31 December 2025, both unsecured facilities are fully utilised.</span></div><div class=\"ps10934 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-80a97fbb ps227\">Project Financing<span id=\"if56c08fedad24245974e647b20856c71\"></span></span></div><div class=\"ps10935 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps227\">P-class Facility<span id=\"if516b9384d2744eba9fb89344e3d0373\"></span></span></div><div class=\"ps3105 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">In December 2023, Cadeler announced the signing of a Sinosure-</span></div><div class=\"ps3106 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">backed Senior Secured Green Term Loan Facility of up to </span></div><div class=\"ps3107 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">EUR425\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10959\">. The purpose of the P-class Facility is to finance </span></div><div class=\"ps3108 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">Cadeler\u2019s </span><span class=\"f charStyle-c1b8f9f6 ps10960\">two</span><span class=\"f charStyle-c1b8f9f6 ps10961\"> newbuild vessels, Wind Peak and Wind Pace, which </span></div><div class=\"ps3109 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">were delivered on August 2024 and March 2025, respectively.</span></div><div class=\"ps10962 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps227\">M-class Facility I &amp; II<span id=\"i62f7e5a2ba7d497faf900a30229af0df\"></span></span></div><div class=\"ps6973 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">In August 2024, Cadeler successfully refinanced the USD </span><span class=\"f charStyle-c1b8f9f6 ps10963\">436\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10964\"> </span></div><div class=\"ps6974 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">Senior Secured Green Term Loan Facility (M-class Facility) to </span><span class=\"f charStyle-c1b8f9f6 ps10965\">two</span><span class=\"f charStyle-c1b8f9f6 ps10966\"> </span></div><div class=\"ps9339 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">individual M-class facilities (M-class Facility I and M-class Facility II). </span></div><div class=\"ps9340 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">Both facilities are backed by Danmarks Eksport og Investeringsfond </span></div><div class=\"ps9341 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">(EIFO) and Export Finance Norway (Eksfin), and provide an </span></div><div class=\"ps9333 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">aggregate of up to </span><span class=\"f charStyle-c1b8f9f6 ps10967\">EUR420\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10968\"> in post-delivery financing. The </span></div><div class=\"ps9334 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">two</span><span class=\"f charStyle-c1b8f9f6 ps10969\"> newbuild vessels, Wind Maker and Wind Mover, were delivered </span></div><div class=\"ps10970 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">on January 2025 and November 2025, respectively.</span></div><div class=\"ps10971 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps227\">A-class Facility <span id=\"ia625b8cce4d34ba99b793a6c7821118d\"></span></span></div><div class=\"ps10974 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">In March 2025, Cadeler entered into a EUR </span><span class=\"f charStyle-c1b8f9f6 ps10972\">525</span><span class=\"f charStyle-c1b8f9f6 ps10973\">m Green Term Loan </span></div><div class=\"ps3420 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">Pre-Delivery and Post-Delivery Facility secured by Sinosure and </span></div><div class=\"ps3421 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">Eksfin. The purpose of the facility is to finance Cadeler\u2019s </span><span class=\"f charStyle-c1b8f9f6 ps10975\">two</span><span class=\"f charStyle-c1b8f9f6 ps10976\"> </span></div><div class=\"ps3422 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">newbuild vessels, Wind Ally and Wind Ace. Wind Ally has been </span></div><div class=\"ps3423 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">successful delivered ahead of schedule in September 2025 and </span></div><div class=\"ps3424 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">Wind Ace is expected to be delivered in Q1 2026.</span></div><div class=\"ps10977 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps227\">Keeper Facility<span id=\"id6d845dd45ba4bc28b6208ff6637defb\"></span></span></div><div class=\"ps2387 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">In May 2025, Cadeler entered into a bridge facility of up to EUR </span></div><div class=\"ps2388 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">150\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10978\"> for the acquisition of Wind Keeper. This facility was </span></div><div class=\"ps10981 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">subsequently refinanced by a EUR </span><span class=\"f charStyle-c1b8f9f6 ps10979\">125\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10980\"> Green Term Loan, </span></div><div class=\"ps10982 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">which was fully drawn in October 2025.</span></div><div class=\"ps10983 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Covenants<span id=\"i39fb197c8cdb45309962aab6c128e6be\"></span></span></div><div class=\"ps10985 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group debt </span><span class=\"f charStyle-c1b8f9f6 ps10984\">facilities include the following covenants:</span></div><div class=\"ps10987 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">All debt facilities</span></div><div class=\"ps10988 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1760\">\u2022<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1761\">Minimum Free Liquidity: Freely available cash and cash </span></div><div class=\"ps10996 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">equivalents of i) the higher of</span><span class=\"f charStyle-c1b8f9f6 ps10989\"> </span><span class=\"f charStyle-c1b8f9f6 ps10990\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10991\"> </span><span class=\"f charStyle-c1b8f9f6 ps10992\">35</span><span class=\"f charStyle-c1b8f9f6 ps10993\"> million or </span><span class=\"f charStyle-c1b8f9f6 ps10994\">5%</span><span class=\"f charStyle-c1b8f9f6 ps10995\"> of gross </span></div><div class=\"ps10997 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">interest-bearing debt, where the ratio of forward-looking </span></div><div class=\"ps11000 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">contract cash flow to net interest-bearing debt exceeds </span><span class=\"f charStyle-c1b8f9f6 ps10998\">50%</span><span class=\"f charStyle-c1b8f9f6 ps10999\"> </span></div><div class=\"ps11006 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">or ii) </span><span class=\"f charStyle-c1b8f9f6 ps11001\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps11002\"> </span><span class=\"f charStyle-c1b8f9f6 ps11003\">50</span><span class=\"f charStyle-c1b8f9f6 ps3654\"> million or an amount equal to </span><span class=\"f charStyle-c1b8f9f6 ps11004\">7.5%</span><span class=\"f charStyle-c1b8f9f6 ps11005\"> of gross </span></div><div class=\"ps11007 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">interest-bearing debt at all other times.</span></div><div class=\"ps11009 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1760\">\u2022<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1761\">Equity Ratio: The ratio of b</span><span class=\"f charStyle-c1b8f9f6 ps11008\">ook equity to total assets must at </span></div><div class=\"ps11012 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">all times be a minimum </span><span class=\"f charStyle-c1b8f9f6 ps11010\">35%</span><span class=\"f charStyle-c1b8f9f6 ps11011\">.</span></div><div class=\"ps11013 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1760\">\u2022<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1761\">Working capital: The working capital shall be higher than </span></div><div class=\"ps11016 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">zero (</span><span class=\"f charStyle-c1b8f9f6 ps11014\">0</span><span class=\"f charStyle-c1b8f9f6 ps11015\">).</span></div><div class=\"ps11017 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1760\">\u2022<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1761\">Minimum security value (loan-to-value for individual debt </span></div><div class=\"ps11018 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">facilities).</span></div><div class=\"ps11020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\"> Additional items included in Green Corporate Facility</span></div><div class=\"ps11021 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2377\">\u2022<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps2378\">If, in any reported quarter, the aggregated loan balance </span></div><div class=\"ps11024 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2378\">exceeds </span><span class=\"f charStyle-c1b8f9f6 ps11022\">80%</span><span class=\"f charStyle-c1b8f9f6 ps11023\"> of the forward-looking expected cash </span></div><div class=\"ps11025 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2378\">revenues from legally binding contracts (the Contracted </span></div><div class=\"ps11026 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2378\">Cash Flows), the Borrower shall prepay the excess amount </span></div><div class=\"ps11027 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2378\">of the loans within five business days.</span></div><div class=\"ps11028 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">Additional items included in Holdco Facility </span></div><div class=\"ps11029 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2377\">\u2022<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps2378\">The Group is subject to a debt service coverage ratio where </span></div><div class=\"ps11030 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2378\">cash flow available for debt service (including available </span></div><div class=\"ps11031 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2378\">liquidity comprising cash, cash equivalents and undrawn </span></div><div class=\"ps11032 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2378\">Green Corporate Facility) at the Parent Company must be at </span></div><div class=\"ps11033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2378\">leaast two times the debt service cash flow relating to the </span></div><div class=\"ps11034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2378\">Holdco Facility (2:1). </span></div><div class=\"ps11036 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">Additional items included in M-Class Facility I &amp; II </span></div><div class=\"ps11037 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2377\">\u2022<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps2378\">The Group is required to maintain a specified number of </span></div><div class=\"ps11038 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2378\">employees in Denmark.</span></div><div class=\"ps11020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">All covenants are tested semi-annually, at 30 June and 31 December. </span></div><div class=\"ps11021 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">The Group is in compliance with all covenants. </span></div><div class=\"ps11041 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">As of the reporting date, M-class Facilities I and II remain unutilised. </span></div><div class=\"ps11042 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Due to the non-utilisation of these facilities, no assessment of </span></div><div class=\"ps11043 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">compliance with associated covenants has been required to date. </span></div><div class=\"ps11044 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">These covenants, once applicable, will require assessment upon </span></div><div class=\"ps11045 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">utilisation of the facilities and include customary financial and other </span></div><div class=\"ps11046 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">covenants, including certain change of control provisions, similar to </span></div><div class=\"ps11047 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">those disclosed for the utilised facilities. </span></div><div class=\"ps11048 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">In addition, the Group is in compliance with the following </span></div><div class=\"ps4879 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">requirements:</span></div><div class=\"ps11049 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Restriction on dividends: The Company is not permitted to pay any </span></div><div class=\"ps11050 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">dividends or other distributions without lender\u2019s written consent. </span></div><div class=\"ps11051 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Across the Group\u2019s Debt Facilities, dividends and distributions must </span></div><div class=\"ps11054 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">not exceed </span><span class=\"f charStyle-c1b8f9f6 ps11052\">50%</span><span class=\"f charStyle-c1b8f9f6 ps11053\"> of the consolidated net profit for the respective year </span></div><div class=\"ps11055 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">and the net interest bearing debt to EBITDA ratio should not be lower </span></div><div class=\"ps11058 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">than </span><span class=\"f charStyle-c1b8f9f6 ps11056\">2.75</span><span class=\"f charStyle-c1b8f9f6 ps11057\">:1. Furthermore, under the Holdco Facility, the Company is </span></div><div class=\"ps11059 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">not permitted to make any distributions prior to the delivery of the P-</span></div><div class=\"ps11060 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Class, the first two A-Class and M-Class vessels. </span></div><div class=\"ps11061 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Change of control: If any person or group of persons (other than </span></div><div class=\"ps11062 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Swire Pacific, Scorpio Group or the BW Group) acting in concert </span></div><div class=\"ps11063 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">directly or indirectly gains control of 25% or more of the voting and/</span></div><div class=\"ps11064 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">or ordinary shares of the Borrower, the Agent (acting on the </span></div><div class=\"ps11067 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">instructions of the majority lenders) may, by written notice of </span><span class=\"f charStyle-c1b8f9f6 ps11065\">60</span><span class=\"f charStyle-c1b8f9f6 ps11066\"> days </span></div><div class=\"ps11068 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">cancel the total commitments and demand prepayment of all </span></div><div class=\"ps11069 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">amounts outstanding under the facilities.</span></div><div class=\"ps11072 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies<span id=\"ia724b79896824364bb1ed0a2821fa1af\"></span></span></div><div class=\"ps7064 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Debt to credit institutions etc. is recognised at the time of borrowing </span></div><div class=\"ps7065 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">at fair value after deduction of directly attributable transaction costs. </span></div><div class=\"ps7066 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Subsequently, the financial liabilities are measured at amortised cost </span></div><div class=\"ps7067 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">using the \"effective interest method\", whereby the difference </span></div><div class=\"ps7068 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">between the proceeds and the nominal value is recognised in the </span></div><div class=\"ps296 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">statement of profit and loss under financial expenses over the loan </span></div><div class=\"ps297 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">period. </span></div><div class=\"ps7069 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">A financial liability is derecognised when the obligation under the </span></div><div class=\"ps7070 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">liability is discharged, cancelled or expires.</span></div><div class=\"ps11073 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">When an existing financial liability is replaced by another from the </span></div><div class=\"ps11074 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">same lender on substantially different terms, or when the terms of an </span></div><div class=\"ps7009 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">existing liability are substantially modified, such an exchange or </span></div><div class=\"ps7010 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">modification is treated as the derecognition of the original liability </span></div><div class=\"ps7011 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">and the recognition of a new liability.</span></div><div class=\"ps11075 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The difference in the respective carrying amounts of the original and </span></div><div class=\"ps11076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the new financial liability is recognised in the statement of profit and </span></div><div class=\"ps7012 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">loss.</span></div><div><div id=\"i60a9312555114c61b3ebee7078e135c5_2278\" style=\"position:absolute;top:42.52pt\"></div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 28</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Commitments and Pledges<span id=\"i9559c362fa7445d2813ba504bfe1d578\"></span></span></div><div class=\"ps7781 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Lease commitments<span id=\"ic1943004030a4b58bd199d4476407e94\"></span></span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The future minimum lease payables under non-cancellable low value and short-term leases contracted for </span></div><div class=\"ps7146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">at the balance sheet date but not recognised as liabilities are as follows:</span></div><div class=\"ps11184 ss0\"><div class=\"ss177 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:147pt\"></td><td style=\"padding:0;width:90pt\"></td><td style=\"padding:0;width:90pt\"></td><td style=\"padding:0;width:90pt\"></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss805\"><div><div class=\"ps7199 ss671\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8874 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-281247bf ps11171\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7200 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-054ead99 ps11171\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10630 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-054ead99 ps11171\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2567 ss805\"><div><div class=\"ps2564 ss671\"><span class=\"f charStyle-1bac868e ps633\">Not later than one year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11173 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:54.77pt\"></span></span><span class=\"ps11172\">16,483</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11174 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:66.42pt\"></span></span><span class=\"ps7964\">117</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11176 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:59.62pt\"></span></span><span class=\"ps11175\">1,090</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps1984 ss805\"><div><div class=\"ps2564 ss671\"><span class=\"f charStyle-1bac868e ps633\">Between one and five years<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11177 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:66.42pt\"></span></span><span class=\"ps7964\">229</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7203 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:66.42pt\"></span></span><span class=\"ps7964\">219</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11178 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:59.62pt\"></span></span><span class=\"ps11175\">4,984</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11180 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:52.69pt\"></span></span><span class=\"ps11179\">16,712</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7206 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:65.46pt\"></span></span><span class=\"ps11181\">336</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11183 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:57.86pt\"></span></span><span class=\"ps11182\">6,074</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps1004 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">As of 31 December 2025, the Company\u2019s lease commitments included the lease of third-party vessels </span></div><div class=\"ps3567 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">related to T&amp;I activities.</span></div><div class=\"ps3569 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">As of 31 December 2023, the Company\u2019s lease commitments included the tenure of the new headquarters. </span></div><div class=\"ps3570 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">These commitments were reflected on the balance sheet starting in Q1 2024 as 'Right-of-Use Assets' and </span></div><div class=\"ps3563 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">'Lease Liabilities' in accordance with IFRS 16. </span></div><div class=\"ps7168 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The Group has issued performance and payment guarantees through its banking partners in favour of </span></div><div class=\"ps7169 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">customers and suppliers in connection with offshore wind installation projects. At 31 December 2025, </span></div><div class=\"ps7171 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">outstanding guarantees totalled EUR </span><span class=\"f charStyle-c1b8f9f6 ps11186\">150\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps11187\">. The guarantees relate to the Group\u2019s contractual </span></div><div class=\"ps7172 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">performance and payment obligations. No provision has been recognised, as management assesses that an </span></div><div class=\"ps7173 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">outflow of resources is not probable. The Group would be required to reimburse the issuing bank should </span></div><div class=\"ps7174 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">any guarantee be called.</span></div><div class=\"ps11188 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Pledge of Fixed Assets<span id=\"i11e388798bec455fa903297668fa64c6\"></span></span></div><div class=\"ps6923 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The Green Corporate Facility detailed in </span><span class=\"f charStyle-c1b8f9f6 ps11189\">Note 25</span><span class=\"f charStyle-c1b8f9f6 ps11190\"> is secured by, inter alia, a first priority mortgage over the </span></div><div class=\"ps6926 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Wind Orca, Wind Osprey, Wind Scylla and Wind Zaratan Vessels (</span><span class=\"f charStyle-c1b8f9f6 ps11191\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps11192\"> </span><span class=\"f charStyle-c1b8f9f6 ps11193\">603</span><span class=\"f charStyle-c1b8f9f6 ps11194\"> million</span><span class=\"f charStyle-c1b8f9f6 ps11195\"> carrying amount, see </span><span class=\"f charStyle-c1b8f9f6 ps11196\">Note </span></div><div class=\"ps2785 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">13</span><span class=\"f charStyle-c1b8f9f6 ps11197\">). In addition, the facility is secured by a first priority assignment of the earnings of the vessel-owning </span></div><div class=\"ps2786 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">entities, including certain change of control provisions which are similar to those included in the P-class </span></div><div class=\"ps2787 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Facility.</span></div><div class=\"ps7159 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The P-class Facility, detailed in </span><span class=\"f charStyle-c1b8f9f6 ps11198\">Note 25,</span><span class=\"f charStyle-c1b8f9f6 ps11199\"> is secured by a first priority mortgage over the P-class newbuild </span></div><div class=\"ps7160 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">vessels, first priority assignments of the insurances and earnings of the P-class newbuilds by Cadeler and the </span></div><div class=\"ps7162 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">two</span><span class=\"f charStyle-c1b8f9f6 ps11200\"> borrowers and contain customary financial and other covenants, including certain change of control </span></div><div class=\"ps2791 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">provisions. A change of control under the P-class Facility if any person or group of persons acting in concert </span></div><div class=\"ps2792 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">(other than Swire Pacific and the BW Group) legally and beneficially holds more than </span><span class=\"f charStyle-c1b8f9f6 ps11201\">25%</span><span class=\"f charStyle-c1b8f9f6 ps11202\"> of both the issued </span></div><div class=\"ps2793 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">and outstanding share capital and/or the issued and outstanding voting share capital of Cadeler A/S. In </span></div><div class=\"ps2794 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">addition, certain changes to the ownership structure further down in the Group will also trigger a change of </span></div><div class=\"ps2795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">control, including, among others, circumstances in which Wind Pace Ltd (formerly referred as to N1064 Ltd) </span></div><div class=\"ps2796 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">or Wind Peak Ltd (formerly referred as to N1063 Ltd) ceases to be a wholly owned (direct or indirect) </span></div><div class=\"ps2797 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">subsidiary of Cadeler.</span></div></div><div class=\"ps6992 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Commitments on newbuilds vessels:<span id=\"i6dd288598457476eb437b2d3725905c4\"></span></span></div><div class=\"ps11243 ss0\"><div class=\"ss809 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:192pt\"></td><td style=\"padding:0;width:60pt\"></td><td style=\"padding:0;width:60pt\"></td><td style=\"padding:0;width:60pt\"></td><td style=\"padding:0;width:60pt\"></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps40 ss807\"><div><div class=\"ps4278 ss557\"><span class=\"f charStyle-b07b4361 ps42\">As of 31 December 2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps4283 ss808\"><div><div class=\"ps7199 ss557\"><span class=\"f charStyle-64a4cf84 ps42\">Millions<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11208 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-054ead99 ps11207\">P-Class<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11210 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-054ead99 ps11209\">M-Class<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11212 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-054ead99 ps11211\">A-Class<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11214 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-281247bf ps11213\">Total<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11114 ss808\"><div><div class=\"ps2564 ss557\"><span class=\"f charStyle-1bac868e ps633\">Contract amount in EUR<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11216 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">220</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11217 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10579\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11218 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">299</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11219 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">519</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7526 ss808\"><div><div class=\"ps2564 ss557\"><span class=\"f charStyle-1bac868e ps633\">Contract amount in USD<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11220 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">390</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11221 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">655</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11222 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">794</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11223 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10565\">1,839</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5953 ss808\"><div><div class=\"ps2564 ss557\"><span class=\"f charStyle-2b5af115 ps42\">Total Contract amount translated to EUR<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11224 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">573</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11225 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">600</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11226 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">981</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11227 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10565\">2,154</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"padding:0\"><div class=\"ps11228 ss808\"><div><div class=\"ps2564 ss557\"><span class=\"f charStyle-1bac868e ps633\">Commitment amount in EUR<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11229 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10579\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11230 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10579\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11232 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.27pt\"></span></span><span class=\"ps11231\">40</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps11233 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.27pt\"></span></span><span class=\"ps11231\">40</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11234 ss808\"><div><div class=\"ps2564 ss557\"><span class=\"f charStyle-1bac868e ps633\">Commitment amount in USD<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11235 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10579\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11236 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10579\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11237 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">496</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11238 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">496</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9008 ss808\"><div><div class=\"ps2564 ss557\"><span class=\"f charStyle-2b5af115 ps42\">Remaining commitment translated to EUR<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11239 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10579\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11240 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10579\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11241 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">462</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11242 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">462</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps11245 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Maturity of total payments are disclosed in </span><span class=\"f charStyle-c1b8f9f6 ps11244\">Note 23.</span></div><div class=\"ps11246 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">P-Class vessels <span id=\"i39739276062348009b57f75bf4f64d90\"></span></span></div><div class=\"ps11249 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Since 30 June 2021, the Company had a contract with COSCO to build </span><span class=\"f charStyle-c1b8f9f6 ps11247\">two</span><span class=\"f charStyle-c1b8f9f6 ps11248\"> new P-class WTIVs. On 14 August </span></div><div class=\"ps11251 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">2024, Wind Peak was delivered and the final instalments were paid upon delivery. </span><span class=\"f charStyle-c1b8f9f6 ps11250\">On 26 March 2025, Wind </span></div><div class=\"ps11252 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Pace was delivered with the final instalments also paid upon delivery.</span></div><div class=\"ps6992 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">A-class vessels<span id=\"i54bb13ecdc2d4428ae4897f8f64166da\"></span></span></div><div class=\"ps11257 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">On 9 May 2022 and 22 November 2022, the Company entered into contracts with COSCO to build a total of </span></div><div class=\"ps11258 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">two</span><span class=\"f charStyle-c1b8f9f6 ps11200\"> new A-class FIVs. In May 2024, the Company entered into an additional contract with COSCO to build </span></div><div class=\"ps11259 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">the third A-class FIV. On 29 September 2025, Wind Ally was delivered, with the final instalments paid upon </span></div><div class=\"ps11260 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">delivery.</span></div><div class=\"ps8867 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The total contract value for the </span><span class=\"f charStyle-c1b8f9f6 ps11261\">three</span><span class=\"f charStyle-c1b8f9f6 ps11262\"> vessels are approximately </span><span class=\"f charStyle-c1b8f9f6 ps11263\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps11264\"> </span><span class=\"f charStyle-c1b8f9f6 ps11265\">1\u00a0billion</span><span class=\"f charStyle-c1b8f9f6 ps11266\">, of which approximately </span><span class=\"f charStyle-c1b8f9f6 ps11267\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps6903\"> </span></div><div class=\"ps11279 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">167\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps11268\"> was paid in 2022, </span><span class=\"f charStyle-c1b8f9f6 ps11269\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps11270\"> </span><span class=\"f charStyle-c1b8f9f6 ps11271\">94\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps11272\"> was paid in 2024 and </span><span class=\"f charStyle-c1b8f9f6 ps11273\">EUR</span><span class=\"f charStyle-58d8bcbe ps11274\"> </span><span class=\"f charStyle-c1b8f9f6 ps11275\">257\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps11276\"> was paid in </span><span class=\"f charStyle-c1b8f9f6 ps11277\">2025</span><span class=\"f charStyle-c1b8f9f6 ps11278\">. The </span></div><div class=\"ps11280 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">remaining amounts are due in 2026 and 2027 with expected deliveries in Q3 2026 and Q2 2027, </span></div><div class=\"ps11281 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">respectively.</span></div><div class=\"ps11288 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Of the total contract value, USD </span><span class=\"f charStyle-c1b8f9f6 ps11282\">794 million</span><span class=\"f charStyle-c1b8f9f6 ps11283\"> is payable or has been paid in USD and </span><span class=\"f charStyle-c1b8f9f6 ps11284\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps11285\"> </span><span class=\"f charStyle-c1b8f9f6 ps11286\">299 million</span><span class=\"f charStyle-c1b8f9f6 ps11287\"> is </span></div><div class=\"ps11291 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">payable or has been paid in </span><span class=\"f charStyle-c1b8f9f6 ps11289\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps11290\">. </span></div><div class=\"ps11292 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">M-Class vessels<span id=\"i68e4397ac40244a994a178878999535a\"></span></span></div><div class=\"ps11293 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">As a result of the business combination with Eneti, the Company had a contract with Hanwha for the </span></div><div class=\"ps11296 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">construction of </span><span class=\"f charStyle-c1b8f9f6 ps11294\">two</span><span class=\"f charStyle-c1b8f9f6 ps11295\"> next-generation offshore WTIVs. </span></div><div class=\"ps11298 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">On 31 January 2025, Wind Maker was delivered and the final instalments were paid upon delivery. </span><span class=\"f charStyle-c1b8f9f6 ps11297\">On 28 </span></div><div class=\"ps11299 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">November 2025, Wind Mover was delivered with the final instalments also paid upon delivery.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-561": {
   "value": "<div class=\"ps9588 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Leas interest expenses recognised in profit and loss </span></div><div class=\"ps9589 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps186\">1.<span class=\"f ps43\"> </span></span><span class=\"f charStyle-4ecd4cad ps1760\">Interest expense</span></div><div class=\"ps9593 ss0\"><div class=\"ss194 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:191.25pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss704\"><div><div class=\"ps6190 ss701\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9551 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-281247bf ps3727\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9552 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-054ead99 ps3727\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5299 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-054ead99 ps3727\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:27pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4283 ss706\"><div><div class=\"ps8707 ss701\"><span class=\"f charStyle-1bac868e ps633\">Interest expense on lease liabilities (vessels <span class=\"f ps43\"> </span></span></div><div class=\"ps8708 ss701\"><span class=\"f charStyle-1bac868e ps633\">and office)</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9590 ss707\"><div><div class=\"ps8708 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">746</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9591 ss707\"><div><div class=\"ps8708 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">428</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9592 ss707\"><div><div class=\"ps8708 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.27pt\"></span></span><span class=\"ps9565\">25</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps4203 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps186\">1.<span class=\"f ps43\"> </span></span><span class=\"f charStyle-4ecd4cad ps1760\">Lease expense not capitalised in lease liabilities</span></div><div class=\"ps9594 ss0\"><div class=\"ss194 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:191.25pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss704\"><div><div class=\"ps6190 ss701\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9551 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-281247bf ps3727\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9552 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-054ead99 ps3727\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5299 ss705\"><div><div class=\"ps4278 ss298\"><span class=\"f charStyle-054ead99 ps3727\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4283 ss708\"><div><div class=\"ps44 ss701\"><span class=\"f charStyle-1bac868e ps633\">Short-term lease expense<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9590 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">614</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9591 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">477</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9592 ss651\"><div><div class=\"ps44 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">180</span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-562": {
   "value": "<div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Accounting policies<span id=\"i5b93fa0e4eeb499581f0d02dbf58f2fb\"></span></span></div><div class=\"ps8664 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Right-of-Use Assets <span id=\"if3e7eb2c164547ba99ae198c39355d35\"></span></span></div><div class=\"ps8665 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The Group recognises a right-of-use asset and lease liability at the date on which the underlying asset is </span></div><div class=\"ps8666 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">made available for use. Right-of-use assets are measured at cost, which comprises the initial measurement </span></div><div class=\"ps8667 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">of the lease liability using an incremental borrowing rate adjusted for any lease payments made at or before </span></div><div class=\"ps8668 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">the commencement date and any lease incentives received. Any initial direct costs that would not have been </span></div><div class=\"ps8689 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">incurred if the lease had not been obtained are included in to the carrying amount of the right-of-use </span></div><div class=\"ps9618 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">assets.</span></div><div class=\"ps8671 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The right-of-use asset is subsequently measured at cost, less any accumulated depreciation and impairment </span></div><div class=\"ps8672 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">losses, and adjusted for any remeasurement of the lease liability.</span></div><div class=\"ps3191 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Right-of-use assets are depreciated on a straight-line basis over the lease term.</span></div><div class=\"ps9619 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Right-of-use assets are tested for impairment whenever there is objective evidence or an indication that </span></div><div class=\"ps9620 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">these assets may be impaired. For further information regarding impairment testing. please refer to Note 13.</span></div><div class=\"ps9621 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Lease liabilities<span id=\"i906fb04c707e4a55b0265cca42759d6e\"></span></span></div><div class=\"ps2679 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">At the inception of a contract, the Group assesses whether the contract contains a lease. A contract contains </span></div><div class=\"ps2680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">a lease if it conveys the right to control the use of an identified asset for a period of time in exchange for </span></div><div class=\"ps2681 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">consideration. Reassessment is required only when the terms and conditions of the contract are changed.</span></div><div class=\"ps6983 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">At the commencement date of the lease, the Group recognises lease liabilities measured at the present </span></div><div class=\"ps9283 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">value of lease payments to be made over the lease term. The lease payments include fixed payments </span></div><div class=\"ps9289 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(including in-substance fixed payments) less any lease incentives receivable, variable lease payments that </span></div><div class=\"ps9294 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">depend on an index or a rate, and amounts expected to be paid under residual value guarantees.</span></div><div class=\"ps2983 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Variable lease payments that do not depend on an index or a rate are recognised as expenses in the period </span></div><div class=\"ps2984 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">in which the event or condition that triggers the payment occurs. Utilisation based lease fees are classified <span class=\"f ps43\"> </span></span></div><div class=\"ps2985 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">as variable lease payments.</span></div><div class=\"ps2986 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the </span></div><div class=\"ps2987 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">lease commencement date, as the interest rate implicit in the lease is not readily determinable. After the </span></div><div class=\"ps2988 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">commencement date, the carrying amount of lease liabilities is increased to reflect the accretion of interest </span></div><div class=\"ps2989 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">and reduced by lease payments made.</span></div><div class=\"ps2990 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the </span></div><div class=\"ps2991 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an </span></div><div class=\"ps3118 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">index or rate used to determine such lease payments) or a change in the assessment of an option to </span></div><div class=\"ps3119 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">purchase the underlying asset.</span></div><div class=\"ps9626 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Short-term and low-value leases<span id=\"i47c0a14c77d249589203643c44fd375a\"></span></span></div><div class=\"ps9627 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group has elected not to recognise right-of-use assets and lease liabilities for short-term leases with </span></div><div class=\"ps9369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">lease terms of </span><span class=\"f charStyle-c1b8f9f6 ps7514\">twelve months</span><span class=\"f charStyle-c1b8f9f6 ps9628\"> or less, and for low-value leases. Lease payments relating to these leases are </span></div><div class=\"ps9370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">expensed to profit or loss on a straight-line basis over the lease term. Short-term and low-value leases </span></div><div class=\"ps9371 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">include cars, coffee machines, office premises and AV equipment.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-566": {
   "value": "<div class=\"ps9621 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Lease liabilities<span id=\"i906fb04c707e4a55b0265cca42759d6e\"></span></span></div><div class=\"ps2679 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">At the inception of a contract, the Group assesses whether the contract contains a lease. A contract contains </span></div><div class=\"ps2680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">a lease if it conveys the right to control the use of an identified asset for a period of time in exchange for </span></div><div class=\"ps2681 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">consideration. Reassessment is required only when the terms and conditions of the contract are changed.</span></div><div class=\"ps6983 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">At the commencement date of the lease, the Group recognises lease liabilities measured at the present </span></div><div class=\"ps9283 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">value of lease payments to be made over the lease term. The lease payments include fixed payments </span></div><div class=\"ps9289 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(including in-substance fixed payments) less any lease incentives receivable, variable lease payments that </span></div><div class=\"ps9294 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">depend on an index or a rate, and amounts expected to be paid under residual value guarantees.</span></div><div class=\"ps2983 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Variable lease payments that do not depend on an index or a rate are recognised as expenses in the period </span></div><div class=\"ps2984 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">in which the event or condition that triggers the payment occurs. Utilisation based lease fees are classified <span class=\"f ps43\"> </span></span></div><div class=\"ps2985 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">as variable lease payments.</span></div><div class=\"ps2986 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the </span></div><div class=\"ps2987 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">lease commencement date, as the interest rate implicit in the lease is not readily determinable. After the </span></div><div class=\"ps2988 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">commencement date, the carrying amount of lease liabilities is increased to reflect the accretion of interest </span></div><div class=\"ps2989 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">and reduced by lease payments made.</span></div><div class=\"ps2990 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the </span></div><div class=\"ps2991 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an </span></div><div class=\"ps3118 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">index or rate used to determine such lease payments) or a change in the assessment of an option to </span></div><div class=\"ps3119 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">purchase the underlying asset.</span></div><div class=\"ps9626 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Short-term and low-value leases<span id=\"i47c0a14c77d249589203643c44fd375a\"></span></span></div><div class=\"ps9627 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group has elected not to recognise right-of-use assets and lease liabilities for short-term leases with </span></div><div class=\"ps9369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">lease terms of </span><span class=\"f charStyle-c1b8f9f6 ps7514\">twelve months</span><span class=\"f charStyle-c1b8f9f6 ps9628\"> or less, and for low-value leases. Lease payments relating to these leases are </span></div><div class=\"ps9370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">expensed to profit or loss on a straight-line basis over the lease term. Short-term and low-value leases </span></div><div class=\"ps9371 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">include cars, coffee machines, office premises and AV equipment.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceCostsExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-565": {
   "value": "<div class=\"ps9621 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Lease liabilities<span id=\"i906fb04c707e4a55b0265cca42759d6e\"></span></span></div><div class=\"ps2679 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">At the inception of a contract, the Group assesses whether the contract contains a lease. A contract contains </span></div><div class=\"ps2680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">a lease if it conveys the right to control the use of an identified asset for a period of time in exchange for </span></div><div class=\"ps2681 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">consideration. Reassessment is required only when the terms and conditions of the contract are changed.</span></div><div class=\"ps6983 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">At the commencement date of the lease, the Group recognises lease liabilities measured at the present </span></div><div class=\"ps9283 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">value of lease payments to be made over the lease term. The lease payments include fixed payments </span></div><div class=\"ps9289 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(including in-substance fixed payments) less any lease incentives receivable, variable lease payments that </span></div><div class=\"ps9294 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">depend on an index or a rate, and amounts expected to be paid under residual value guarantees.</span></div><div class=\"ps2983 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Variable lease payments that do not depend on an index or a rate are recognised as expenses in the period </span></div><div class=\"ps2984 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">in which the event or condition that triggers the payment occurs. Utilisation based lease fees are classified <span class=\"f ps43\"> </span></span></div><div class=\"ps2985 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">as variable lease payments.</span></div><div class=\"ps2986 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the </span></div><div class=\"ps2987 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">lease commencement date, as the interest rate implicit in the lease is not readily determinable. After the </span></div><div class=\"ps2988 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">commencement date, the carrying amount of lease liabilities is increased to reflect the accretion of interest </span></div><div class=\"ps2989 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">and reduced by lease payments made.</span></div><div class=\"ps2990 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the </span></div><div class=\"ps2991 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an </span></div><div class=\"ps3118 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">index or rate used to determine such lease payments) or a change in the assessment of an option to </span></div><div class=\"ps3119 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">purchase the underlying asset.</span></div><div class=\"ps9626 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Short-term and low-value leases<span id=\"i47c0a14c77d249589203643c44fd375a\"></span></span></div><div class=\"ps9627 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group has elected not to recognise right-of-use assets and lease liabilities for short-term leases with </span></div><div class=\"ps9369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">lease terms of </span><span class=\"f charStyle-c1b8f9f6 ps7514\">twelve months</span><span class=\"f charStyle-c1b8f9f6 ps9628\"> or less, and for low-value leases. Lease payments relating to these leases are </span></div><div class=\"ps9370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">expensed to profit or loss on a straight-line basis over the lease term. Short-term and low-value leases </span></div><div class=\"ps9371 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">include cars, coffee machines, office premises and AV equipment.</span></div><div class=\"ps9760 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies<span id=\"id45d7b41ad8e457a85cd27d16fcb0747\"></span></span></div><div class=\"ps9761 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Financial assets<span id=\"i84d16ac46774406bb2607018955ce9e3\"></span></span></div><div class=\"ps9762 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The classification of financial assets depends on the Group\u2019s business model for managing the financial </span></div><div class=\"ps9763 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">assets as well as the contractual terms of the cash flows of the respective financial assets.</span></div><div class=\"ps3382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1760\">(1)<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1761\">At initial recognition: the Group measures a financial asset at fair value, plus, in the case of a </span></div><div class=\"ps3384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">financial asset not measured at fair value through profit or loss, transaction costs that are directly </span></div><div class=\"ps3385 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">attributable to the acquisition of the financial assets. Transaction costs of financial assets carried at </span></div><div class=\"ps3386 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">fair value through profit or loss are recognised as an expense in profit or loss.</span></div><div class=\"ps2680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1760\">(1i)<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1761\">At subsequent measurement: the Group\u2019s financial assets mainly comprise cash and bank balances, </span></div><div class=\"ps2681 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">trade receivables and other current assets.</span></div><div class=\"ps9622 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Interest income from these financial assets is recognised using the effective interest rate method.</span></div><div class=\"ps2357 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group assesses on a forward-looking basis the expected credit losses associated with its financial assets </span></div><div class=\"ps2358 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">carried at amortised cost. For trade and other receivables, the Group applied the simplified approach </span></div><div class=\"ps2359 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">permitted by IFRS 9, which requires lifetime expected losses to be recognised from initial recognition of the </span></div><div class=\"ps2360 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">receivables.</span></div><div class=\"ps7781 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Accounting policies<span id=\"i0e2a59b7f3894ea2994a4e401dde6b73\"></span></span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Trade and other payables represent liabilities for goods and services provided to the Group before the end </span></div><div class=\"ps7146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">of the financial year, that remain unpaid. They are classified as current liabilities if payment is due within one </span></div><div class=\"ps7149 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">year or less (within the normal operating cycle of the business, if longer). Otherwise, they are presented as </span></div><div class=\"ps7564 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">non-current liabilities. Trade and other payables are initially recognised at fair value, and subsequently </span></div><div class=\"ps7565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">carried at amortised cost, using the effective interest method. </span></div><div class=\"ps7103 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">A provision is recognised for certain contracts with customers where the unavoidable costs of meeting the </span></div><div class=\"ps7104 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">performance obligations exceed the economic benefits expected to be received. These costs are expected </span></div><div class=\"ps7150 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">to be incurred in the following financial year.</span></div><div class=\"ps11072 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies<span id=\"ia724b79896824364bb1ed0a2821fa1af\"></span></span></div><div class=\"ps7064 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Debt to credit institutions etc. is recognised at the time of borrowing </span></div><div class=\"ps7065 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">at fair value after deduction of directly attributable transaction costs. </span></div><div class=\"ps7066 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Subsequently, the financial liabilities are measured at amortised cost </span></div><div class=\"ps7067 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">using the \"effective interest method\", whereby the difference </span></div><div class=\"ps7068 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">between the proceeds and the nominal value is recognised in the </span></div><div class=\"ps296 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">statement of profit and loss under financial expenses over the loan </span></div><div class=\"ps297 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">period. </span></div><div class=\"ps7069 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">A financial liability is derecognised when the obligation under the </span></div><div class=\"ps7070 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">liability is discharged, cancelled or expires.</span></div><div class=\"ps11073 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">When an existing financial liability is replaced by another from the </span></div><div class=\"ps11074 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">same lender on substantially different terms, or when the terms of an </span></div><div class=\"ps7009 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">existing liability are substantially modified, such an exchange or </span></div><div class=\"ps7010 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">modification is treated as the derecognition of the original liability </span></div><div class=\"ps7011 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">and the recognition of a new liability.</span></div><div class=\"ps11075 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The difference in the respective carrying amounts of the original and </span></div><div class=\"ps11076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the new financial liability is recognised in the statement of profit and </span></div><div class=\"ps7012 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">loss.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-564": {
   "value": "<div class=\"ps9621 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Lease liabilities<span id=\"i906fb04c707e4a55b0265cca42759d6e\"></span></span></div><div class=\"ps2679 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">At the inception of a contract, the Group assesses whether the contract contains a lease. A contract contains </span></div><div class=\"ps2680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">a lease if it conveys the right to control the use of an identified asset for a period of time in exchange for </span></div><div class=\"ps2681 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">consideration. Reassessment is required only when the terms and conditions of the contract are changed.</span></div><div class=\"ps6983 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">At the commencement date of the lease, the Group recognises lease liabilities measured at the present </span></div><div class=\"ps9283 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">value of lease payments to be made over the lease term. The lease payments include fixed payments </span></div><div class=\"ps9289 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(including in-substance fixed payments) less any lease incentives receivable, variable lease payments that </span></div><div class=\"ps9294 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">depend on an index or a rate, and amounts expected to be paid under residual value guarantees.</span></div><div class=\"ps2983 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Variable lease payments that do not depend on an index or a rate are recognised as expenses in the period </span></div><div class=\"ps2984 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">in which the event or condition that triggers the payment occurs. Utilisation based lease fees are classified <span class=\"f ps43\"> </span></span></div><div class=\"ps2985 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">as variable lease payments.</span></div><div class=\"ps2986 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the </span></div><div class=\"ps2987 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">lease commencement date, as the interest rate implicit in the lease is not readily determinable. After the </span></div><div class=\"ps2988 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">commencement date, the carrying amount of lease liabilities is increased to reflect the accretion of interest </span></div><div class=\"ps2989 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">and reduced by lease payments made.</span></div><div class=\"ps2990 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the </span></div><div class=\"ps2991 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an </span></div><div class=\"ps3118 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">index or rate used to determine such lease payments) or a change in the assessment of an option to </span></div><div class=\"ps3119 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">purchase the underlying asset.</span></div><div class=\"ps9626 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Short-term and low-value leases<span id=\"i47c0a14c77d249589203643c44fd375a\"></span></span></div><div class=\"ps9627 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group has elected not to recognise right-of-use assets and lease liabilities for short-term leases with </span></div><div class=\"ps9369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">lease terms of </span><span class=\"f charStyle-c1b8f9f6 ps7514\">twelve months</span><span class=\"f charStyle-c1b8f9f6 ps9628\"> or less, and for low-value leases. Lease payments relating to these leases are </span></div><div class=\"ps9370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">expensed to profit or loss on a straight-line basis over the lease term. Short-term and low-value leases </span></div><div class=\"ps9371 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">include cars, coffee machines, office premises and AV equipment.</span></div><div class=\"ps7781 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Accounting policies<span id=\"i0e2a59b7f3894ea2994a4e401dde6b73\"></span></span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Trade and other payables represent liabilities for goods and services provided to the Group before the end </span></div><div class=\"ps7146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">of the financial year, that remain unpaid. They are classified as current liabilities if payment is due within one </span></div><div class=\"ps7149 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">year or less (within the normal operating cycle of the business, if longer). Otherwise, they are presented as </span></div><div class=\"ps7564 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">non-current liabilities. Trade and other payables are initially recognised at fair value, and subsequently </span></div><div class=\"ps7565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">carried at amortised cost, using the effective interest method. </span></div><div class=\"ps7103 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">A provision is recognised for certain contracts with customers where the unavoidable costs of meeting the </span></div><div class=\"ps7104 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">performance obligations exceed the economic benefits expected to be received. These costs are expected </span></div><div class=\"ps7150 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">to be incurred in the following financial year.</span></div><div class=\"ps11072 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies<span id=\"ia724b79896824364bb1ed0a2821fa1af\"></span></span></div><div class=\"ps7064 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Debt to credit institutions etc. is recognised at the time of borrowing </span></div><div class=\"ps7065 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">at fair value after deduction of directly attributable transaction costs. </span></div><div class=\"ps7066 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Subsequently, the financial liabilities are measured at amortised cost </span></div><div class=\"ps7067 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">using the \"effective interest method\", whereby the difference </span></div><div class=\"ps7068 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">between the proceeds and the nominal value is recognised in the </span></div><div class=\"ps296 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">statement of profit and loss under financial expenses over the loan </span></div><div class=\"ps297 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">period. </span></div><div class=\"ps7069 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">A financial liability is derecognised when the obligation under the </span></div><div class=\"ps7070 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">liability is discharged, cancelled or expires.</span></div><div class=\"ps11073 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">When an existing financial liability is replaced by another from the </span></div><div class=\"ps11074 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">same lender on substantially different terms, or when the terms of an </span></div><div class=\"ps7009 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">existing liability are substantially modified, such an exchange or </span></div><div class=\"ps7010 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">modification is treated as the derecognition of the original liability </span></div><div class=\"ps7011 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">and the recognition of a new liability.</span></div><div class=\"ps11075 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The difference in the respective carrying amounts of the original and </span></div><div class=\"ps11076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the new financial liability is recognised in the statement of profit and </span></div><div class=\"ps7012 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">loss.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-563": {
   "value": "<div class=\"ps9621 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Lease liabilities<span id=\"i906fb04c707e4a55b0265cca42759d6e\"></span></span></div><div class=\"ps2679 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">At the inception of a contract, the Group assesses whether the contract contains a lease. A contract contains </span></div><div class=\"ps2680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">a lease if it conveys the right to control the use of an identified asset for a period of time in exchange for </span></div><div class=\"ps2681 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">consideration. Reassessment is required only when the terms and conditions of the contract are changed.</span></div><div class=\"ps6983 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">At the commencement date of the lease, the Group recognises lease liabilities measured at the present </span></div><div class=\"ps9283 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">value of lease payments to be made over the lease term. The lease payments include fixed payments </span></div><div class=\"ps9289 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">(including in-substance fixed payments) less any lease incentives receivable, variable lease payments that </span></div><div class=\"ps9294 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">depend on an index or a rate, and amounts expected to be paid under residual value guarantees.</span></div><div class=\"ps2983 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Variable lease payments that do not depend on an index or a rate are recognised as expenses in the period </span></div><div class=\"ps2984 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">in which the event or condition that triggers the payment occurs. Utilisation based lease fees are classified <span class=\"f ps43\"> </span></span></div><div class=\"ps2985 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">as variable lease payments.</span></div><div class=\"ps2986 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the </span></div><div class=\"ps2987 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">lease commencement date, as the interest rate implicit in the lease is not readily determinable. After the </span></div><div class=\"ps2988 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">commencement date, the carrying amount of lease liabilities is increased to reflect the accretion of interest </span></div><div class=\"ps2989 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">and reduced by lease payments made.</span></div><div class=\"ps2990 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the </span></div><div class=\"ps2991 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an </span></div><div class=\"ps3118 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">index or rate used to determine such lease payments) or a change in the assessment of an option to </span></div><div class=\"ps3119 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">purchase the underlying asset.</span></div><div class=\"ps9626 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Short-term and low-value leases<span id=\"i47c0a14c77d249589203643c44fd375a\"></span></span></div><div class=\"ps9627 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group has elected not to recognise right-of-use assets and lease liabilities for short-term leases with </span></div><div class=\"ps9369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">lease terms of </span><span class=\"f charStyle-c1b8f9f6 ps7514\">twelve months</span><span class=\"f charStyle-c1b8f9f6 ps9628\"> or less, and for low-value leases. Lease payments relating to these leases are </span></div><div class=\"ps9370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">expensed to profit or loss on a straight-line basis over the lease term. Short-term and low-value leases </span></div><div class=\"ps9371 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">include cars, coffee machines, office premises and AV equipment.</span></div><div class=\"ps9760 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies<span id=\"id45d7b41ad8e457a85cd27d16fcb0747\"></span></span></div><div class=\"ps9761 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Financial assets<span id=\"i84d16ac46774406bb2607018955ce9e3\"></span></span></div><div class=\"ps9762 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The classification of financial assets depends on the Group\u2019s business model for managing the financial </span></div><div class=\"ps9763 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">assets as well as the contractual terms of the cash flows of the respective financial assets.</span></div><div class=\"ps3382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1760\">(1)<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1761\">At initial recognition: the Group measures a financial asset at fair value, plus, in the case of a </span></div><div class=\"ps3384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">financial asset not measured at fair value through profit or loss, transaction costs that are directly </span></div><div class=\"ps3385 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">attributable to the acquisition of the financial assets. Transaction costs of financial assets carried at </span></div><div class=\"ps3386 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">fair value through profit or loss are recognised as an expense in profit or loss.</span></div><div class=\"ps2680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1760\">(1i)<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1761\">At subsequent measurement: the Group\u2019s financial assets mainly comprise cash and bank balances, </span></div><div class=\"ps2681 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">trade receivables and other current assets.</span></div><div class=\"ps9622 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Interest income from these financial assets is recognised using the effective interest rate method.</span></div><div class=\"ps2357 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group assesses on a forward-looking basis the expected credit losses associated with its financial assets </span></div><div class=\"ps2358 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">carried at amortised cost. For trade and other receivables, the Group applied the simplified approach </span></div><div class=\"ps2359 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">permitted by IFRS 9, which requires lifetime expected losses to be recognised from initial recognition of the </span></div><div class=\"ps2360 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">receivables.</span></div><div class=\"ps7019 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-644c6314 ps1008\">Change in debts to credit institutions during the year</span></div><div class=\"ps10466 ss0\"><div class=\"ss177 ws0 ps1056\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:239.25pt\"></td><td style=\"padding:0;width:59.25pt\"></td><td style=\"padding:0;width:59.25pt\"></td><td style=\"padding:0;width:59.25pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss744\"><div><div class=\"ps7604 ss600\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7518 ss745\"><div><div class=\"ps4431 ss148\"><span class=\"f charStyle-281247bf ps6077\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10358 ss745\"><div><div class=\"ps4431 ss148\"><span class=\"f charStyle-054ead99 ps6077\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6040 ss745\"><div><div class=\"ps4431 ss148\"><span class=\"f charStyle-054ead99 ps6077\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps442 ss744\"><div><div class=\"ps438 ss600\"><span class=\"f charStyle-1bac868e ps633\">Debt to credit institutions at 1 January<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10446 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10445\">(571,017)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10447 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10445\">(205,572)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7717 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10445\">(115,002)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps463 ss744\"><div><div class=\"ps438 ss600\"><span class=\"f charStyle-1bac868e ps633\">Loans repayments<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10448 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10378\">279,281</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10449 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10361\">10,630</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7720 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10378\">115,000</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5507 ss744\"><div><div class=\"ps438 ss600\"><span class=\"f charStyle-1bac868e ps633\">Proceeds from borrowing<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10451 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:6.95pt\"></span></span><span class=\"ps10450\">(1,337,178)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10452 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10445\">(385,234)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7724 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10445\">(211,934)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5516 ss744\"><div><div class=\"ps438 ss600\"><span class=\"f charStyle-1bac868e ps633\">New loan fees<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10453 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10361\">25,193</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10454 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10361\">11,100</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7726 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10373\">8,262</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5521 ss744\"><div><div class=\"ps438 ss600\"><span class=\"f charStyle-1bac868e ps633\">Non-cash movements<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10456 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10455\">(7,033)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10457 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10455\">(1,941)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7729 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10363\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5526 ss744\"><div><div class=\"ps438 ss600\"><span class=\"f charStyle-1bac868e ps633\">Write-off of loan fees<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10458 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10363\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10459 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10363\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10460 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10455\">(1,898)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps62 ss744\"><div><div class=\"ps438 ss600\"><span class=\"f charStyle-b07b4361 ps42\">Debt to credit institutions at 31 December 2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10462 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:2.53pt\"></span></span><span class=\"ps10461\">(1,610,754)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10464 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:10.13pt\"></span></span><span class=\"ps10463\">(571,017)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10465 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:10.13pt\"></span></span><span class=\"ps10463\">(205,572)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps4559 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Total </span><span class=\"f charStyle-c1b8f9f6 ps10468\">Proceeds from borrowing, net of bank fees, </span><span class=\"f charStyle-c1b8f9f6 ps10469\">in </span><span class=\"f charStyle-c1b8f9f6 ps10470\">2025</span><span class=\"f charStyle-c1b8f9f6 ps10471\"> as per Consolidated Statement of Cash Flows </span></div><div class=\"ps4560 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">amounted to </span><span class=\"f charStyle-c1b8f9f6 ps10472\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10473\"> </span><span class=\"f charStyle-c1b8f9f6 ps10474\">1,309</span><span class=\"f charStyle-c1b8f9f6 ps10475\"> million, excluding </span><span class=\"f charStyle-c1b8f9f6 ps10476\">EUR </span><span class=\"f charStyle-c1b8f9f6 ps10477\">2.8</span><span class=\"f charStyle-c1b8f9f6 ps10478\"> of loan fees that have been included in Prepayments.</span></div><div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Capital management<span id=\"i025d8568241546d6b01fee9b47d8e40f\"></span></span></div><div class=\"ps372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Company\u2019s objectives when managing capital are to ensure the </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Company\u2019s ability to continue as a going concern and to maintain an </span></div><div class=\"ps400 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">optimal capital structure.</span></div><div class=\"ps375 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In order to achieve this overall objective, the Company\u2019s capital </span></div><div class=\"ps376 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">management aims, among other things, to ensure compliance wth </span></div><div class=\"ps377 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the financial covenants attached to the interest-bearing loans and </span></div><div class=\"ps378 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">borrowings that define capital structure requirements. A breach of </span></div><div class=\"ps379 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the financial covenants would permit the bank to immediately call </span></div><div class=\"ps401 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">loans and borrowings. There have been no breaches of the financial </span></div><div class=\"ps402 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">covenants of any interest-bearing loans and borrowing in the current </span></div><div class=\"ps10479 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">period.</span></div><div class=\"ps383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In order to maintain or adjust the capital structure in the future, the </span></div><div class=\"ps384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Group may adjust dividend payments to shareholders, issue new </span></div><div class=\"ps403 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">shares and/or dispose of assets to reduce debt. Pursuant to the </span></div><div class=\"ps429 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Green Corporate Facility, the Company is not permitted to pay any </span></div><div class=\"ps430 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">dividends or other distributions without the prior written consent of </span></div><div class=\"ps431 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">DNB Bank ASA.</span></div><div><div id=\"i60a9312555114c61b3ebee7078e135c5_12094627907821\" style=\"position:absolute;top:42.52pt\"></div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 25</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Financial Liabilities: Interest-bearing Loans and Borrowings<span id=\"ia0b999c032cd4b8fa64ba3530eed0930\"></span></span></div><div class=\"ps9276 ss0\"><div class=\"ss790 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:191.25pt\"></td><td style=\"padding:0;width:144.75pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:105.75pt\"></td><td style=\"padding:0;width:75.75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:78pt\"></td><td style=\"padding:0;width:65.25pt\"></td><td style=\"padding:0;width:65.25pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps40 ss746\"><div><div class=\"ps4431 ss701\"><span class=\"f charStyle-b07b4361 ps42\">As of 31 December 2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td colspan=\"3\" style=\"padding:0\"><div class=\"ps10900 ss787\"><div><div class=\"ps4431 ss786\"><span class=\"f charStyle-b07b4361 ps10899\">Committed (EUR millions)<span class=\"f ps43\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"padding:0\"><div class=\"ps10901 ss789\"><div><div class=\"ps7604 ss788\"><span class=\"f charStyle-64a4cf84 ps42\">Related derivatives contracts<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps442 ss713\"><div><div class=\"ps8179 ss701\"><span class=\"f charStyle-4979afbe ps42\">EUR Millions<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10793 ss772\"><div><div class=\"ps8179 ss432\"><span class=\"f charStyle-4979afbe ps42\">Interest rate<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10794 ss473\"><div><div class=\"ps8179 ss337\"><span class=\"f charStyle-4979afbe ps42\">Maturity<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10795 ss774\"><div><div class=\"ps8179 ss773\"><span class=\"f charStyle-4979afbe ps42\">Covenants<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10796 ss776\"><div><div class=\"ps5618 ss775\"><span class=\"f charStyle-281247bf ps3979\">Utilised<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10799 ss304\"><div><div class=\"ps5619 ss298\"><span class=\"f charStyle-281247bf ps10797\">Accumulated <span class=\"f ps43\"> </span></span></div><div class=\"ps5618 ss298\"><span class=\"f charStyle-281247bf ps10798\">repayments</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10801 ss777\"><div><div class=\"ps5618 ss317\"><span class=\"f charStyle-281247bf ps10800\">Unutilised<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10803 ss778\"><div><div class=\"ps8179 ss242\"><span class=\"f charStyle-4979afbe ps10802\">Average IRS rate<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10807 ss778\"><div><div class=\"ps10805 ss242\"><span class=\"f charStyle-4979afbe ps10804\">IRS nominal (EUR <span class=\"f ps43\"> </span></span></div><div class=\"ps8179 ss242\"><span class=\"f charStyle-4979afbe ps10806\">millions)</span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps1980 ss779\"><div><div class=\"ps4584 ss701\"><span class=\"f charStyle-b07b4361 ps42\">Secured<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps2129 ss779\"><div><div class=\"ps4584 ss701\"><span class=\"f charStyle-1bac868e ps633\">Green Corporate Facility (RCF + term loan)<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10812 ss780\"><div><div class=\"ps4584 ss432\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3797\">3 months EURIBOR + </span><span class=\"f charStyle-36184c7f ps10809\">2%</span><span class=\"f charStyle-36184c7f ps10810\"> - </span><span class=\"f charStyle-36184c7f ps10811\">2.75%</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10814 ss481\"><div><div class=\"ps4584 ss337\"><span class=\"f charStyle-e5ec5c44 ps10813\">2032<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10816 ss781\"><div><div class=\"ps4584 ss773\"><span class=\"f charStyle-e5ec5c44 ps10815\">Yes - refer to page 203<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10818 ss782\"><div><div class=\"ps4584 ss775\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:52.17pt\"></span></span><span class=\"ps10817\">283</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10819 ss783\"><div><div class=\"ps4584 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.85pt\"></span></span><span class=\"ps9567\">(87)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10821 ss784\"><div><div class=\"ps4584 ss317\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:54.42pt\"></span></span><span class=\"ps10820\">148</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10823 ss785\"><div><div class=\"ps4584 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps10822\"></span><span class=\"ps10822\">2.7</span><span class=\"ps5307\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10824 ss785\"><div><div class=\"ps4584 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.67pt\"></span></span><span class=\"ps9782\">247</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5946 ss779\"><div><div class=\"ps4584 ss701\"><span class=\"f charStyle-1bac868e ps633\">Green Corporate Facility - Guarantee<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10827 ss780\"><div><div class=\"ps4584 ss432\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3797\">0.8%</span><span class=\"f charStyle-36184c7f ps10825\"> - </span><span class=\"f charStyle-36184c7f ps10826\">1.2%</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10828 ss481\"><div><div class=\"ps4584 ss337\"><span class=\"f charStyle-e5ec5c44 ps10813\">2026<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10829 ss781\"><div><div class=\"ps4584 ss773\"><span class=\"f charStyle-e5ec5c44 ps10815\">Yes - refer to page 203<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10830 ss782\"><div><div class=\"ps4584 ss775\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:52.17pt\"></span></span><span class=\"ps10817\">157</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10831 ss783\"><div><div class=\"ps4584 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10833 ss784\"><div><div class=\"ps4584 ss317\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:59.27pt\"></span></span><span class=\"ps10832\">43</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10834 ss785\"><div><div class=\"ps4584 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\"></span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2883 ss779\"><div><div class=\"ps4584 ss701\"><span class=\"f charStyle-b07b4361 ps42\">Total Green Corporate Facility<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10836 ss782\"><div><div class=\"ps4584 ss775\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.21pt\"></span></span><span class=\"ps10835\">440</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10838 ss783\"><div><div class=\"ps4584 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.99pt\"></span></span><span class=\"ps10837\">(87)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10840 ss784\"><div><div class=\"ps4584 ss317\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:53.46pt\"></span></span><span class=\"ps10839\">191</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps5677 ss779\"><div><div class=\"ps4584 ss701\"><span class=\"f charStyle-1bac868e ps633\">P-Class Facility\u00b9<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10841 ss780\"><div><div class=\"ps4584 ss432\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3797\">3 months EURIBOR + </span><span class=\"f charStyle-36184c7f ps10809\">1.6%</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10842 ss481\"><div><div class=\"ps4584 ss337\"><span class=\"f charStyle-e5ec5c44 ps10813\">2037<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10843 ss781\"><div><div class=\"ps4584 ss773\"><span class=\"f charStyle-e5ec5c44 ps10815\">Yes - refer to page 203<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10844 ss782\"><div><div class=\"ps4584 ss775\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:52.17pt\"></span></span><span class=\"ps10817\">421</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10845 ss783\"><div><div class=\"ps4584 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.85pt\"></span></span><span class=\"ps9567\">(35)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10847 ss784\"><div><div class=\"ps4584 ss317\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:59.97pt\"></span></span><span class=\"ps10846\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10848 ss785\"><div><div class=\"ps4584 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps10822\"></span><span class=\"ps10822\">3.0</span><span class=\"ps5307\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10849 ss785\"><div><div class=\"ps4584 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.87pt\"></span></span><span class=\"ps7269\">105.1</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps10850 ss779\"><div><div class=\"ps4584 ss701\"><span class=\"f charStyle-1bac868e ps633\">A-Class Facility I &amp; II<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10851 ss780\"><div><div class=\"ps4584 ss432\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3797\">3 months EURIBOR + </span><span class=\"f charStyle-36184c7f ps10809\">1.6%</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10852 ss481\"><div><div class=\"ps4584 ss337\"><span class=\"f charStyle-e5ec5c44 ps10813\">2037<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10853 ss781\"><div><div class=\"ps4584 ss773\"><span class=\"f charStyle-e5ec5c44 ps10815\">Yes - refer to page 203<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10854 ss782\"><div><div class=\"ps4584 ss775\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:52.17pt\"></span></span><span class=\"ps10817\">262</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10856 ss783\"><div><div class=\"ps4584 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.7pt\"></span></span><span class=\"ps10855\">(5)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10857 ss784\"><div><div class=\"ps4584 ss317\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:54.42pt\"></span></span><span class=\"ps10820\">263</span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps2098 ss779\"><div><div class=\"ps4584 ss701\"><span class=\"f charStyle-1bac868e ps633\">Wind Keeper Facility<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10858 ss780\"><div><div class=\"ps4584 ss432\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3797\">3 months EURIBOR + </span><span class=\"f charStyle-36184c7f ps10809\">2.1%</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10859 ss481\"><div><div class=\"ps4584 ss337\"><span class=\"f charStyle-e5ec5c44 ps10813\">2030<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10860 ss781\"><div><div class=\"ps4584 ss773\"><span class=\"f charStyle-e5ec5c44 ps10815\">Yes - refer to page 203<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10861 ss782\"><div><div class=\"ps4584 ss775\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:52.17pt\"></span></span><span class=\"ps10817\">125</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10862 ss783\"><div><div class=\"ps4584 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10863 ss784\"><div><div class=\"ps4584 ss317\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:59.97pt\"></span></span><span class=\"ps10846\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10864 ss779\"><div><div class=\"ps4584 ss701\"><span class=\"f charStyle-1bac868e ps633\">M-Class Facility I &amp; II<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10865 ss780\"><div><div class=\"ps4584 ss432\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3797\">3 months EURIBOR + </span><span class=\"f charStyle-36184c7f ps10809\">2.5%</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10866 ss481\"><div><div class=\"ps4584 ss337\"><span class=\"f charStyle-e5ec5c44 ps10813\">2037<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10867 ss781\"><div><div class=\"ps4584 ss773\"><span class=\"f charStyle-e5ec5c44 ps10815\">Yes - refer to page 203<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10868 ss782\"><div><div class=\"ps4584 ss775\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:52.17pt\"></span></span><span class=\"ps10817\">420</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10869 ss783\"><div><div class=\"ps4584 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.85pt\"></span></span><span class=\"ps9567\">(13)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10870 ss784\"><div><div class=\"ps4584 ss317\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:59.97pt\"></span></span><span class=\"ps10846\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10871 ss785\"><div><div class=\"ps4584 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\"></span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps6005 ss779\"><div><div class=\"ps4584 ss701\"><span class=\"f charStyle-b07b4361 ps42\">Unsecured<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps10872 ss779\"><div><div class=\"ps4584 ss701\"><span class=\"f charStyle-1bac868e ps633\">HoldCo Facility<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10873 ss780\"><div><div class=\"ps4584 ss432\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3797\">3 months EURIBOR + </span><span class=\"f charStyle-36184c7f ps10809\">4%</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10874 ss481\"><div><div class=\"ps4584 ss337\"><span class=\"f charStyle-e5ec5c44 ps10813\">2028<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10875 ss781\"><div><div class=\"ps4584 ss773\"><span class=\"f charStyle-1bac868e ps42\">Yes - refer to page 203<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10876 ss782\"><div><div class=\"ps4584 ss775\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:52.17pt\"></span></span><span class=\"ps10817\">125</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10877 ss783\"><div><div class=\"ps4584 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10878 ss784\"><div><div class=\"ps4584 ss317\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:59.97pt\"></span></span><span class=\"ps10846\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps5746 ss779\"><div><div class=\"ps4584 ss701\"><span class=\"f charStyle-1bac868e ps633\">HoldCo Facility II<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10879 ss780\"><div><div class=\"ps4584 ss432\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3797\">3 months EURIBOR + </span><span class=\"f charStyle-36184c7f ps10809\">4%</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10880 ss481\"><div><div class=\"ps4584 ss337\"><span class=\"f charStyle-e5ec5c44 ps10813\">2030<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10881 ss781\"><div><div class=\"ps4584 ss773\"><span class=\"f charStyle-1bac868e ps42\">Yes - refer to page 203<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10883 ss782\"><div><div class=\"ps4584 ss775\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:57.02pt\"></span></span><span class=\"ps10882\">60</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10884 ss783\"><div><div class=\"ps4584 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10885 ss784\"><div><div class=\"ps4584 ss317\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:59.97pt\"></span></span><span class=\"ps10846\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps10434 ss779\"><div><div class=\"ps4584 ss701\"><span class=\"f charStyle-1bac868e ps633\">Unsecured guarantee facility<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10886 ss781\"><div><div class=\"ps4584 ss773\"><span class=\"f charStyle-1bac868e ps42\">Yes - refer to page 203<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10887 ss782\"><div><div class=\"ps4584 ss775\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:57.02pt\"></span></span><span class=\"ps10882\">43</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10888 ss783\"><div><div class=\"ps4584 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10890 ss784\"><div><div class=\"ps4584 ss317\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:64.12pt\"></span></span><span class=\"ps10889\">7</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10891 ss785\"><div><div class=\"ps4584 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\"></span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10892 ss785\"><div><div class=\"ps4584 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6522\"></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"background-color:#206079;padding:0\"><div class=\"ps5338 ss779\"><div><div class=\"ps4584 ss701\"><span class=\"f charStyle-23b55a92 ps42\">Total (excluding Guarantee facility)<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"></td><td style=\"background-color:#206079;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10895 ss782\"><div><div class=\"ps4584 ss775\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.98pt\"></span></span><span class=\"ps10893\">1,696</span><span class=\"ps10894\">\u00b2</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10897 ss783\"><div><div class=\"ps4584 ss298\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.82pt\"></span></span><span class=\"ps10896\">(140)</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10898 ss784\"><div><div class=\"ps4584 ss317\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:53.46pt\"></span></span><span class=\"ps10839\">411</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"></td><td style=\"background-color:#206079;padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps10931 ss0\"><div class=\"ss791 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:770.25pt\"></td></tr><tr style=\"height:26.25pt\"><td style=\"padding:0\"><div class=\"ps40 ss792\"><div><div class=\"ps10920 ss791\" style=\"font-size:12pt\"><span class=\"f charStyle-f8d16a17 ps10902\"><sup>1 </sup></span><span class=\"f charStyle-df865089 ps10903\">For the P-class Facility, up to </span><span class=\"f charStyle-df865089 ps10904\">EUR</span><span class=\"f charStyle-df865089 ps10905\"> </span><span class=\"f charStyle-df865089 ps10906\">425</span><span class=\"f charStyle-df865089 ps10907\"> million, </span><span class=\"f charStyle-df865089 ps10908\">EUR</span><span class=\"f charStyle-df865089 ps10909\"> </span><span class=\"f charStyle-df865089 ps10910\">214</span><span class=\"f charStyle-df865089 ps10911\">million was available for Wind Peak of which </span><span class=\"f charStyle-df865089 ps10912\">EUR</span><span class=\"f charStyle-df865089 ps10913\"> </span><span class=\"f charStyle-df865089 ps10914\">421 million</span><span class=\"f charStyle-df865089 ps10915\"> has been utilised and the remaining </span><span class=\"f charStyle-df865089 ps10916\">EUR</span><span class=\"f charStyle-58d8bcbe ps10917\"> </span><span class=\"f charStyle-df865089 ps10918\">4</span><span class=\"f charStyle-df865089 ps10919\"> million lapsed. </span></div><div class=\"ps10930 ss791\" style=\"font-size:12pt\"><span class=\"f charStyle-f8d16a17 ps10902\"><sup>2</sup></span><span class=\"f charStyle-df865089 ps10921\"> The difference between </span><span class=\"f charStyle-df865089 ps10922\">EUR</span><span class=\"f charStyle-df865089 ps10923\"> </span><span class=\"f charStyle-df865089 ps10924\">1,696 million</span><span class=\"f charStyle-df865089 ps10925\"> and the carrying amount of </span><span class=\"f charStyle-df865089 ps10926\">EUR</span><span class=\"f charStyle-58d8bcbe ps10927\"> </span><span class=\"f charStyle-df865089 ps10928\">1,611 million</span><span class=\"f charStyle-df865089 ps10929\"> is mainly related to interest and fees.</span></div></div></div></td></tr></tbody></table></div></div></div></div><div class=\"ps10935 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Green Corporate Facility (formerly referred to as \u201cNew <span id=\"i4641db1b21454607875c215d46850a8c\"></span></span></div><div class=\"ps10936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">debt Facility\u201d)</span></div><div class=\"ps10937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In December 2023, Cadeler announced the signing of a EUR </span></div><div class=\"ps8924 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">550\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10938\"> Senior Secured Green Facilities, the \u201cGreen Corporate </span></div><div class=\"ps7335 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Facility\u201d, with a group of banks led by DNB and supported by </span></div><div class=\"ps6971 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Rabobank, Credit Agricole, Danske Bank, Oversea-Chinese Banking </span></div><div class=\"ps7347 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Corporation (\u201cOCBC\u201d), Standard Chartered Bank and Soci\u00e9t\u00e9 </span></div><div class=\"ps9336 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">G\u00e9n\u00e9rale.</span></div><div class=\"ps6974 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The main objective of the Green Corporate Facility is to refinance </span></div><div class=\"ps9339 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">and fund upgrades to existing vessels, as well as to provide funding </span></div><div class=\"ps9340 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">for general corporate and working capital purposes.</span></div><div class=\"ps8936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Green Corporate Facility comprises two RCFs amounting to EUR </span></div><div class=\"ps8937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">350\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10938\">, a EUR </span><span class=\"f charStyle-c1b8f9f6 ps10939\">100\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10940\"> term loan guaranteed by The Danish </span></div><div class=\"ps9343 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Export and Investment Fund of Denmark (EIFO) and a EUR </span></div><div class=\"ps10941 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">200\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10938\"> uncommitted Guarantee facility.</span></div><div class=\"ps10942 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Holdco Facility<span id=\"idc8116543ec04d0085a457bedbf8be4f\"></span></span></div><div class=\"ps8939 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In November 2023, Cadeler entered into a bilateral unsecured </span></div><div class=\"ps10945 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Green Loan Facility with HSBC of EUR </span><span class=\"f charStyle-c1b8f9f6 ps10943\">80\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10944\">, which was upsized </span></div><div class=\"ps10948 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">to EUR </span><span class=\"f charStyle-c1b8f9f6 ps10946\">125\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10947\"> during 2024. The main purpose of the facility has </span></div><div class=\"ps3200 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">been to pre-finance the construction of the P-class and A-class </span></div><div class=\"ps10949 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">newbuild vessels in addition to the upgrade of the existing O-class </span></div><div class=\"ps9374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">vessels.</span></div><div class=\"ps10950 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In November 2025, Cadeler entered into a second unsecured Green </span></div><div class=\"ps10954 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Loan Facility with HSBC and C</span><span class=\"f charStyle-c1b8f9f6 ps10951\">lifford Capital of EUR </span><span class=\"f charStyle-c1b8f9f6 ps10952\">60\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10953\"> with a </span></div><div class=\"ps10957 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">non-committed accordion option of up to EUR </span><span class=\"f charStyle-c1b8f9f6 ps10955\">80\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10956\">.</span></div><div class=\"ps10958 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">As of 31 December 2025, both unsecured facilities are fully utilised.</span></div><div class=\"ps10934 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-80a97fbb ps227\">Project Financing<span id=\"if56c08fedad24245974e647b20856c71\"></span></span></div><div class=\"ps10935 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps227\">P-class Facility<span id=\"if516b9384d2744eba9fb89344e3d0373\"></span></span></div><div class=\"ps3105 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">In December 2023, Cadeler announced the signing of a Sinosure-</span></div><div class=\"ps3106 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">backed Senior Secured Green Term Loan Facility of up to </span></div><div class=\"ps3107 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">EUR425\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10959\">. The purpose of the P-class Facility is to finance </span></div><div class=\"ps3108 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">Cadeler\u2019s </span><span class=\"f charStyle-c1b8f9f6 ps10960\">two</span><span class=\"f charStyle-c1b8f9f6 ps10961\"> newbuild vessels, Wind Peak and Wind Pace, which </span></div><div class=\"ps3109 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">were delivered on August 2024 and March 2025, respectively.</span></div><div class=\"ps10962 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps227\">M-class Facility I &amp; II<span id=\"i62f7e5a2ba7d497faf900a30229af0df\"></span></span></div><div class=\"ps6973 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">In August 2024, Cadeler successfully refinanced the USD </span><span class=\"f charStyle-c1b8f9f6 ps10963\">436\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10964\"> </span></div><div class=\"ps6974 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">Senior Secured Green Term Loan Facility (M-class Facility) to </span><span class=\"f charStyle-c1b8f9f6 ps10965\">two</span><span class=\"f charStyle-c1b8f9f6 ps10966\"> </span></div><div class=\"ps9339 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">individual M-class facilities (M-class Facility I and M-class Facility II). </span></div><div class=\"ps9340 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">Both facilities are backed by Danmarks Eksport og Investeringsfond </span></div><div class=\"ps9341 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">(EIFO) and Export Finance Norway (Eksfin), and provide an </span></div><div class=\"ps9333 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">aggregate of up to </span><span class=\"f charStyle-c1b8f9f6 ps10967\">EUR420\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10968\"> in post-delivery financing. The </span></div><div class=\"ps9334 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">two</span><span class=\"f charStyle-c1b8f9f6 ps10969\"> newbuild vessels, Wind Maker and Wind Mover, were delivered </span></div><div class=\"ps10970 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">on January 2025 and November 2025, respectively.</span></div><div class=\"ps10971 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps227\">A-class Facility <span id=\"ia625b8cce4d34ba99b793a6c7821118d\"></span></span></div><div class=\"ps10974 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">In March 2025, Cadeler entered into a EUR </span><span class=\"f charStyle-c1b8f9f6 ps10972\">525</span><span class=\"f charStyle-c1b8f9f6 ps10973\">m Green Term Loan </span></div><div class=\"ps3420 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">Pre-Delivery and Post-Delivery Facility secured by Sinosure and </span></div><div class=\"ps3421 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">Eksfin. The purpose of the facility is to finance Cadeler\u2019s </span><span class=\"f charStyle-c1b8f9f6 ps10975\">two</span><span class=\"f charStyle-c1b8f9f6 ps10976\"> </span></div><div class=\"ps3422 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">newbuild vessels, Wind Ally and Wind Ace. Wind Ally has been </span></div><div class=\"ps3423 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">successful delivered ahead of schedule in September 2025 and </span></div><div class=\"ps3424 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">Wind Ace is expected to be delivered in Q1 2026.</span></div><div class=\"ps10977 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps227\">Keeper Facility<span id=\"id6d845dd45ba4bc28b6208ff6637defb\"></span></span></div><div class=\"ps2387 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">In May 2025, Cadeler entered into a bridge facility of up to EUR </span></div><div class=\"ps2388 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">150\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10978\"> for the acquisition of Wind Keeper. This facility was </span></div><div class=\"ps10981 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">subsequently refinanced by a EUR </span><span class=\"f charStyle-c1b8f9f6 ps10979\">125\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10980\"> Green Term Loan, </span></div><div class=\"ps10982 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps227\">which was fully drawn in October 2025.</span></div><div class=\"ps10983 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Covenants<span id=\"i39fb197c8cdb45309962aab6c128e6be\"></span></span></div><div class=\"ps10985 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group debt </span><span class=\"f charStyle-c1b8f9f6 ps10984\">facilities include the following covenants:</span></div><div class=\"ps10987 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">All debt facilities</span></div><div class=\"ps10988 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1760\">\u2022<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1761\">Minimum Free Liquidity: Freely available cash and cash </span></div><div class=\"ps10996 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">equivalents of i) the higher of</span><span class=\"f charStyle-c1b8f9f6 ps10989\"> </span><span class=\"f charStyle-c1b8f9f6 ps10990\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10991\"> </span><span class=\"f charStyle-c1b8f9f6 ps10992\">35</span><span class=\"f charStyle-c1b8f9f6 ps10993\"> million or </span><span class=\"f charStyle-c1b8f9f6 ps10994\">5%</span><span class=\"f charStyle-c1b8f9f6 ps10995\"> of gross </span></div><div class=\"ps10997 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">interest-bearing debt, where the ratio of forward-looking </span></div><div class=\"ps11000 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">contract cash flow to net interest-bearing debt exceeds </span><span class=\"f charStyle-c1b8f9f6 ps10998\">50%</span><span class=\"f charStyle-c1b8f9f6 ps10999\"> </span></div><div class=\"ps11006 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">or ii) </span><span class=\"f charStyle-c1b8f9f6 ps11001\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps11002\"> </span><span class=\"f charStyle-c1b8f9f6 ps11003\">50</span><span class=\"f charStyle-c1b8f9f6 ps3654\"> million or an amount equal to </span><span class=\"f charStyle-c1b8f9f6 ps11004\">7.5%</span><span class=\"f charStyle-c1b8f9f6 ps11005\"> of gross </span></div><div class=\"ps11007 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">interest-bearing debt at all other times.</span></div><div class=\"ps11009 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1760\">\u2022<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1761\">Equity Ratio: The ratio of b</span><span class=\"f charStyle-c1b8f9f6 ps11008\">ook equity to total assets must at </span></div><div class=\"ps11012 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">all times be a minimum </span><span class=\"f charStyle-c1b8f9f6 ps11010\">35%</span><span class=\"f charStyle-c1b8f9f6 ps11011\">.</span></div><div class=\"ps11013 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1760\">\u2022<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1761\">Working capital: The working capital shall be higher than </span></div><div class=\"ps11016 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">zero (</span><span class=\"f charStyle-c1b8f9f6 ps11014\">0</span><span class=\"f charStyle-c1b8f9f6 ps11015\">).</span></div><div class=\"ps11017 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1760\">\u2022<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1761\">Minimum security value (loan-to-value for individual debt </span></div><div class=\"ps11018 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">facilities).</span></div><div class=\"ps11020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\"> Additional items included in Green Corporate Facility</span></div><div class=\"ps11021 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2377\">\u2022<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps2378\">If, in any reported quarter, the aggregated loan balance </span></div><div class=\"ps11024 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2378\">exceeds </span><span class=\"f charStyle-c1b8f9f6 ps11022\">80%</span><span class=\"f charStyle-c1b8f9f6 ps11023\"> of the forward-looking expected cash </span></div><div class=\"ps11025 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2378\">revenues from legally binding contracts (the Contracted </span></div><div class=\"ps11026 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2378\">Cash Flows), the Borrower shall prepay the excess amount </span></div><div class=\"ps11027 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2378\">of the loans within five business days.</span></div><div class=\"ps11028 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">Additional items included in Holdco Facility </span></div><div class=\"ps11029 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2377\">\u2022<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps2378\">The Group is subject to a debt service coverage ratio where </span></div><div class=\"ps11030 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2378\">cash flow available for debt service (including available </span></div><div class=\"ps11031 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2378\">liquidity comprising cash, cash equivalents and undrawn </span></div><div class=\"ps11032 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2378\">Green Corporate Facility) at the Parent Company must be at </span></div><div class=\"ps11033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2378\">leaast two times the debt service cash flow relating to the </span></div><div class=\"ps11034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2378\">Holdco Facility (2:1). </span></div><div class=\"ps11036 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">Additional items included in M-Class Facility I &amp; II </span></div><div class=\"ps11037 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2377\">\u2022<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps2378\">The Group is required to maintain a specified number of </span></div><div class=\"ps11038 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2378\">employees in Denmark.</span></div><div class=\"ps11020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">All covenants are tested semi-annually, at 30 June and 31 December. </span></div><div class=\"ps11021 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">The Group is in compliance with all covenants. </span></div><div class=\"ps11041 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">As of the reporting date, M-class Facilities I and II remain unutilised. </span></div><div class=\"ps11042 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Due to the non-utilisation of these facilities, no assessment of </span></div><div class=\"ps11043 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">compliance with associated covenants has been required to date. </span></div><div class=\"ps11044 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">These covenants, once applicable, will require assessment upon </span></div><div class=\"ps11045 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">utilisation of the facilities and include customary financial and other </span></div><div class=\"ps11046 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">covenants, including certain change of control provisions, similar to </span></div><div class=\"ps11047 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">those disclosed for the utilised facilities. </span></div><div class=\"ps11048 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">In addition, the Group is in compliance with the following </span></div><div class=\"ps4879 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">requirements:</span></div><div class=\"ps11049 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Restriction on dividends: The Company is not permitted to pay any </span></div><div class=\"ps11050 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">dividends or other distributions without lender\u2019s written consent. </span></div><div class=\"ps11051 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Across the Group\u2019s Debt Facilities, dividends and distributions must </span></div><div class=\"ps11054 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">not exceed </span><span class=\"f charStyle-c1b8f9f6 ps11052\">50%</span><span class=\"f charStyle-c1b8f9f6 ps11053\"> of the consolidated net profit for the respective year </span></div><div class=\"ps11055 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">and the net interest bearing debt to EBITDA ratio should not be lower </span></div><div class=\"ps11058 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">than </span><span class=\"f charStyle-c1b8f9f6 ps11056\">2.75</span><span class=\"f charStyle-c1b8f9f6 ps11057\">:1. Furthermore, under the Holdco Facility, the Company is </span></div><div class=\"ps11059 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">not permitted to make any distributions prior to the delivery of the P-</span></div><div class=\"ps11060 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Class, the first two A-Class and M-Class vessels. </span></div><div class=\"ps11061 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Change of control: If any person or group of persons (other than </span></div><div class=\"ps11062 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Swire Pacific, Scorpio Group or the BW Group) acting in concert </span></div><div class=\"ps11063 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">directly or indirectly gains control of 25% or more of the voting and/</span></div><div class=\"ps11064 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">or ordinary shares of the Borrower, the Agent (acting on the </span></div><div class=\"ps11067 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">instructions of the majority lenders) may, by written notice of </span><span class=\"f charStyle-c1b8f9f6 ps11065\">60</span><span class=\"f charStyle-c1b8f9f6 ps11066\"> days </span></div><div class=\"ps11068 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">cancel the total commitments and demand prepayment of all </span></div><div class=\"ps11069 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">amounts outstanding under the facilities.</span></div><div class=\"ps11072 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies<span id=\"ia724b79896824364bb1ed0a2821fa1af\"></span></span></div><div class=\"ps7064 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Debt to credit institutions etc. is recognised at the time of borrowing </span></div><div class=\"ps7065 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">at fair value after deduction of directly attributable transaction costs. </span></div><div class=\"ps7066 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Subsequently, the financial liabilities are measured at amortised cost </span></div><div class=\"ps7067 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">using the \"effective interest method\", whereby the difference </span></div><div class=\"ps7068 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">between the proceeds and the nominal value is recognised in the </span></div><div class=\"ps296 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">statement of profit and loss under financial expenses over the loan </span></div><div class=\"ps297 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">period. </span></div><div class=\"ps7069 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">A financial liability is derecognised when the obligation under the </span></div><div class=\"ps7070 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">liability is discharged, cancelled or expires.</span></div><div class=\"ps11073 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">When an existing financial liability is replaced by another from the </span></div><div class=\"ps11074 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">same lender on substantially different terms, or when the terms of an </span></div><div class=\"ps7009 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">existing liability are substantially modified, such an exchange or </span></div><div class=\"ps7010 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">modification is treated as the derecognition of the original liability </span></div><div class=\"ps7011 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">and the recognition of a new liability.</span></div><div class=\"ps11075 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The difference in the respective carrying amounts of the original and </span></div><div class=\"ps11076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the new financial liability is recognised in the statement of profit and </span></div><div class=\"ps7012 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">loss.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-567": {
   "value": "<div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Note 15</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps1008\">Inventories<span id=\"ib34ce6d2a91845c29468119043a09cba\"></span></span></div><div class=\"ps7670 ss0\"><div class=\"ss712 ws0 ps1056\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:114pt\"></td><td style=\"padding:0;width:86.25pt\"></td><td style=\"padding:0;width:86.25pt\"></td><td style=\"padding:0;width:86.25pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss709\"><div><div class=\"ps750 ss430\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7569 ss711\"><div><div class=\"ps44 ss710\"><span class=\"f charStyle-281247bf ps9631\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7606 ss711\"><div><div class=\"ps44 ss710\"><span class=\"f charStyle-054ead99 ps9631\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9632 ss711\"><div><div class=\"ps44 ss710\"><span class=\"f charStyle-054ead99 ps9631\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps46 ss709\"><div><div class=\"ps44 ss430\"><span class=\"f charStyle-1bac868e ps633\">Fuel and oil<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9634 ss711\"><div><div class=\"ps44 ss710\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.87pt\"></span></span><span class=\"ps9633\">3,540</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9635 ss711\"><div><div class=\"ps44 ss710\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.87pt\"></span></span><span class=\"ps9633\">1,039</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9636 ss711\"><div><div class=\"ps44 ss710\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:55.87pt\"></span></span><span class=\"ps9633\">1,836</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps9644 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">As of </span><span class=\"f charStyle-c1b8f9f6 ps9637\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps9638\">, the Company's inventories include fuel and oil totallin</span><span class=\"f charStyle-c1b8f9f6 ps9639\">g </span><span class=\"f charStyle-c1b8f9f6 ps9640\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9641\"> </span><span class=\"f charStyle-c1b8f9f6 ps9642\">4 million</span><span class=\"f charStyle-c1b8f9f6 ps9643\">. </span></div><div class=\"ps3186 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">As of </span><span class=\"f charStyle-c1b8f9f6 ps9637\">31\u00a0December 2024</span><span class=\"f charStyle-c1b8f9f6 ps9645\">, the Company's inventories include fuel and oil totalling </span><span class=\"f charStyle-c1b8f9f6 ps9646\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9647\"> </span><span class=\"f charStyle-c1b8f9f6 ps9648\">1.0 million</span><span class=\"f charStyle-c1b8f9f6 ps9649\">, </span><span class=\"f charStyle-c1b8f9f6 ps9650\">a decrease</span><span class=\"f charStyle-c1b8f9f6 ps9651\"> </span></div><div class=\"ps9665 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">from </span><span class=\"f charStyle-c1b8f9f6 ps9652\">EUR</span><span class=\"f charStyle-58d8bcbe ps9653\"> </span><span class=\"f charStyle-c1b8f9f6 ps9654\">1.8 million</span><span class=\"f charStyle-c1b8f9f6 ps9655\"> in </span><span class=\"f charStyle-c1b8f9f6 ps9656\">2023</span><span class=\"f charStyle-c1b8f9f6 ps9657\">,</span><span class=\"f charStyle-c1b8f9f6 ps9658\"> primarily because </span><span class=\"f charStyle-c1b8f9f6 ps9659\">three</span><span class=\"f charStyle-c1b8f9f6 ps9660\"> of the Company\u2019s</span><span class=\"f charStyle-c1b8f9f6 ps9661\"> </span><span class=\"f charStyle-c1b8f9f6 ps9662\">four</span><span class=\"f charStyle-c1b8f9f6 ps9663\"> operating v</span><span class=\"f charStyle-c1b8f9f6 ps9664\">essels were off hire </span></div><div class=\"ps9666 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">at the end of the reporting period.</span></div><div class=\"ps1733 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Accounting policies</span></div><div class=\"ps2471 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Inventories are carried at the lower of cost and net realisable value. Cost is determined using the first-in, </span></div><div class=\"ps1735 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">first-out basis. Net realisable value is the estimated selling price in the ordinary course of business, less </span></div>applicable variable selling expenses. Inventories mainly comprise fuel and oil.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInventoriesExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-568": {
   "value": "<div class=\"ps1733 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Accounting policies</span></div><div class=\"ps2471 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Inventories are carried at the lower of cost and net realisable value. Cost is determined using the first-in, </span></div><div class=\"ps1735 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">first-out basis. Net realisable value is the estimated selling price in the ordinary course of business, less </span></div>applicable variable selling expenses. Inventories mainly comprise fuel and oil.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-569": {
   "value": "<div><div id=\"i60a9312555114c61b3ebee7078e135c5_2592\" style=\"position:absolute;top:42.52pt\"></div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 16</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Trade and Other Receivables<span id=\"i777412d938774219adbfdc9bf55959ab\"></span></span></div><div class=\"ps7670 ss0\"><div class=\"ss194 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:191.25pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss713\"><div><div class=\"ps8179 ss701\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9551 ss304\"><div><div class=\"ps5618 ss298\"><span class=\"f charStyle-281247bf ps3727\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9552 ss304\"><div><div class=\"ps5618 ss298\"><span class=\"f charStyle-054ead99 ps3727\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5299 ss304\"><div><div class=\"ps5618 ss298\"><span class=\"f charStyle-054ead99 ps3727\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps1978 ss713\"><div><div class=\"ps5618 ss701\"><span class=\"f charStyle-1bac868e ps633\">Trade receivables from non-related parties<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9669 ss304\"><div><div class=\"ps5618 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.92pt\"></span></span><span class=\"ps9668\">117,734</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9670 ss304\"><div><div class=\"ps5618 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7253\">51,467</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9671 ss304\"><div><div class=\"ps5618 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7253\">26,802</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps7522 ss713\"><div><div class=\"ps5618 ss701\"><span class=\"f charStyle-1bac868e ps633\">Contract assets<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9672 ss304\"><div><div class=\"ps5618 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7253\">81,923</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9673 ss304\"><div><div class=\"ps5618 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7253\">37,609</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9674 ss304\"><div><div class=\"ps5618 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7271\">8,880</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps7526 ss713\"><div><div class=\"ps5618 ss701\"><span class=\"f charStyle-1bac868e ps633\">Receivables from related parties<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9675 ss304\"><div><div class=\"ps5618 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9676 ss304\"><div><div class=\"ps5618 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">214</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9677 ss304\"><div><div class=\"ps5618 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">592</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2297 ss713\"><div><div class=\"ps5618 ss701\"><span class=\"f charStyle-1bac868e ps633\">Other receivables<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9678 ss304\"><div><div class=\"ps5618 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7253\">21,295</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9679 ss304\"><div><div class=\"ps5618 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7253\">11,305</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9680 ss304\"><div><div class=\"ps5618 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7271\">3,158</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps495 ss713\"><div><div class=\"ps5619 ss701\"><span class=\"f charStyle-b07b4361 ps42\">Total trade receivables and other <span class=\"f ps43\"> </span></span></div><div class=\"ps5618 ss701\"><span class=\"f charStyle-b07b4361 ps42\">receivables</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9681 ss304\"><div><div class=\"ps5618 ss298\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.52pt\"></span></span><span class=\"ps7276\">220,952</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9682 ss304\"><div><div class=\"ps5618 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.52pt\"></span></span><span class=\"ps7276\">100,595</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9683 ss304\"><div><div class=\"ps5618 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7284\">39,432</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps2376 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">As of </span><span class=\"f charStyle-c1b8f9f6 ps1930\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps1931\">, the Company's receivables include contract assets totalling </span><span class=\"f charStyle-c1b8f9f6 ps9684\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9685\"> </span><span class=\"f charStyle-c1b8f9f6 ps9686\">81.9\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9687\">, a </span></div><div class=\"ps9700 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">significant increase from </span><span class=\"f charStyle-c1b8f9f6 ps9688\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9689\"> </span><span class=\"f charStyle-c1b8f9f6 ps9690\">37.6\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9691\"> in </span><span class=\"f charStyle-c1b8f9f6 ps9692\">2024</span><span class=\"f charStyle-c1b8f9f6 ps9693\"> (</span><span class=\"f charStyle-c1b8f9f6 ps9694\">2023</span><span class=\"f charStyle-c1b8f9f6 ps9695\">: </span><span class=\"f charStyle-c1b8f9f6 ps9696\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9697\"> </span><span class=\"f charStyle-c1b8f9f6 ps9698\">8.9\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9699\">). These contract assets represent </span></div><div class=\"ps9701 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the Company's entitlement to consideration for work performed to date on ongoing projects as of the </span></div><div class=\"ps2777 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">balance sheet date. Typically, these contract assets are reclassified to trade receivables when the Company </span></div><div class=\"ps2405 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">fulfils its obligations and the right to consideration becomes unconditional. </span></div><div class=\"ps9710 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The balance of other receivables includes contract fulfilment costs amounted to </span><span class=\"f charStyle-c1b8f9f6 ps9702\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9703\"> </span><span class=\"f charStyle-c1b8f9f6 ps9704\">14</span><span class=\"f charStyle-c1b8f9f6 ps9705\"> million</span><span class=\"f charStyle-c1b8f9f6 ps9706\"> </span><span class=\"f charStyle-c1b8f9f6 ps9707\">(</span><span class=\"f charStyle-c1b8f9f6 ps9708\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9709\"> </span></div><div class=\"ps9717 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">8.5\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9711\"> in </span><span class=\"f charStyle-c1b8f9f6 ps9712\">2024</span><span class=\"f charStyle-c1b8f9f6 ps9713\"> and </span><span class=\"f charStyle-c1b8f9f6 ps9714\">nil</span><span class=\"f charStyle-c1b8f9f6 ps9715\"> in </span><span class=\"f charStyle-c1b8f9f6 ps9716\">2023</span><span class=\"f charStyle-c1b8f9f6 ps1135\">). These costs represent expenditures directly incurred in fulfilling contracts <span class=\"f ps43\"> </span></span></div><div class=\"ps9718 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">with customers, such as direct labour, materials, and other costs necessary to complete the performance </span></div><div class=\"ps9719 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">obligations under the contracts. These costs are recognized as assets as they are expected to be recovered </span></div><div class=\"ps2410 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">over the life of the respective contracts. Contract costs are amortised on a systematic basis that is consistent </span></div><div class=\"ps2411 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">with the transfer of the related goods or services to the customer. For accounting policies, refer to </span><span class=\"f charStyle-c1b8f9f6 ps9720\">Note 3.</span></div><div class=\"ps7168 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The table below outlines movements in contract assets during the year:</span></div><div class=\"ps8712 ss0\"><div class=\"ss177 ws0 ps1056\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:171.75pt\"></td><td style=\"padding:0;width:81.75pt\"></td><td style=\"padding:0;width:81.75pt\"></td><td style=\"padding:0;width:81.75pt\"></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss715\"><div><div class=\"ps6190 ss714\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9723 ss716\"><div><div class=\"ps4278 ss181\"><span class=\"f charStyle-281247bf ps9722\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7608 ss716\"><div><div class=\"ps4278 ss181\"><span class=\"f charStyle-054ead99 ps9722\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9724 ss716\"><div><div class=\"ps4278 ss181\"><span class=\"f charStyle-054ead99 ps9722\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4283 ss717\"><div><div class=\"ps5618 ss714\"><span class=\"f charStyle-b07b4361 ps42\">Contract assets at 1 January<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9726 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.52pt\"></span></span><span class=\"ps9725\">37,609</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9728 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.37pt\"></span></span><span class=\"ps9727\">8,880</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9729 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.52pt\"></span></span><span class=\"ps9725\">19,999</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5184 ss717\"><div><div class=\"ps5618 ss714\"><span class=\"f charStyle-1bac868e ps633\">Acquisition of businesses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9730 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:63.72pt\"></span></span><span class=\"ps1079\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9731 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:63.72pt\"></span></span><span class=\"ps1079\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9732 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.37pt\"></span></span><span class=\"ps9727\">8,266</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5193 ss717\"><div><div class=\"ps5618 ss714\"><span class=\"f charStyle-1bac868e ps633\">Recognised during the period<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9733 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.52pt\"></span></span><span class=\"ps9725\">81,923</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9734 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.52pt\"></span></span><span class=\"ps9725\">37,710</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9736 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:58.17pt\"></span></span><span class=\"ps9735\">614</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5200 ss717\"><div><div class=\"ps5618 ss714\"><span class=\"f charStyle-1bac868e ps633\">Transfer to receivables<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9738 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.1pt\"></span></span><span class=\"ps9737\">(37,609)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9740 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:45.95pt\"></span></span><span class=\"ps9739\">(8,880)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9741 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.1pt\"></span></span><span class=\"ps9737\">(19,999)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5209 ss717\"><div><div class=\"ps5618 ss714\"><span class=\"f charStyle-1bac868e ps633\">Exchange differences<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9742 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:63.72pt\"></span></span><span class=\"ps1079\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9744 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:52.75pt\"></span></span><span class=\"ps9743\">(101)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9745 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:63.72pt\"></span></span><span class=\"ps1079\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5677 ss717\"><div><div class=\"ps5618 ss714\"><span class=\"f charStyle-b07b4361 ps42\">Total contract assets at 31 December<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9747 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.44pt\"></span></span><span class=\"ps9746\">81,923</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9748 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.44pt\"></span></span><span class=\"ps9746\">37,609</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9750 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.61pt\"></span></span><span class=\"ps9749\">8,880</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps6295 ss717\"><div><div class=\"ps5618 ss714\"><span class=\"f charStyle-b07b4361 ps42\">Current<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9751 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.44pt\"></span></span><span class=\"ps9746\">81,923</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9752 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.44pt\"></span></span><span class=\"ps9746\">37,609</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9753 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.61pt\"></span></span><span class=\"ps9749\">8,880</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps6296 ss717\"><div><div class=\"ps5618 ss714\"><span class=\"f charStyle-b07b4361 ps42\">Non-current<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9754 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:63.72pt\"></span></span><span class=\"ps1079\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9755 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:63.72pt\"></span></span><span class=\"ps1079\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9756 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:63.72pt\"></span></span><span class=\"ps1079\">\u2014</span></span></div></div></div></td></tr></tbody></table></div></div></div></div><div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Expected credit loss on trade receivables<span id=\"i83725c9e4c5643f481f0fbf04d4f78e1\"></span></span></div><div class=\"ps372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group has historically only experienced immaterial credit losses on trade receivables, if any. In addition, </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">a material part of the cash flows under the Group\u2019s contracts consist of prepayments received up front.</span></div><div class=\"ps374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group's assessment remains consistent with its historical experiences. Although certain receivables may </span></div><div class=\"ps375 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">become up to </span><span class=\"f charStyle-c1b8f9f6 ps8990\">30 days</span><span class=\"f charStyle-c1b8f9f6 ps9759\"> overdue, the Group\u2019s overall credit risk profile remains unchanged. This assessment is </span></div><div class=\"ps376 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">supported by historical loss data, a limited number of reliable counterparties, and the Group\u2019s forward-</span></div><div class=\"ps377 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">looking outlook.</span></div><div class=\"ps9760 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies<span id=\"id45d7b41ad8e457a85cd27d16fcb0747\"></span></span></div><div class=\"ps9761 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Financial assets<span id=\"i84d16ac46774406bb2607018955ce9e3\"></span></span></div><div class=\"ps9762 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The classification of financial assets depends on the Group\u2019s business model for managing the financial </span></div><div class=\"ps9763 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">assets as well as the contractual terms of the cash flows of the respective financial assets.</span></div><div class=\"ps3382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1760\">(1)<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1761\">At initial recognition: the Group measures a financial asset at fair value, plus, in the case of a </span></div><div class=\"ps3384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">financial asset not measured at fair value through profit or loss, transaction costs that are directly </span></div><div class=\"ps3385 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">attributable to the acquisition of the financial assets. Transaction costs of financial assets carried at </span></div><div class=\"ps3386 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">fair value through profit or loss are recognised as an expense in profit or loss.</span></div><div class=\"ps2680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1760\">(1i)<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1761\">At subsequent measurement: the Group\u2019s financial assets mainly comprise cash and bank balances, </span></div><div class=\"ps2681 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">trade receivables and other current assets.</span></div><div class=\"ps9622 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Interest income from these financial assets is recognised using the effective interest rate method.</span></div><div class=\"ps2357 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group assesses on a forward-looking basis the expected credit losses associated with its financial assets </span></div><div class=\"ps2358 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">carried at amortised cost. For trade and other receivables, the Group applied the simplified approach </span></div><div class=\"ps2359 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">permitted by IFRS 9, which requires lifetime expected losses to be recognised from initial recognition of the </span></div><div class=\"ps2360 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">receivables.</span></div><div class=\"ps7498 ss0\"><div class=\"ss177 ws0 ps1056\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:146.25pt\"></td><td style=\"padding:0;width:65.25pt\"></td><td style=\"padding:0;width:65.25pt\"></td><td style=\"padding:0;width:65.25pt\"></td><td style=\"padding:0;width:75pt\"></td></tr><tr style=\"height:27pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss720\"><div><div class=\"ps9766 ss719\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9769 ss721\"><div><div class=\"ps8707 ss242\"><span class=\"f charStyle-054ead99 ps9767\">Trade <span class=\"f ps43\"> </span></span></div><div class=\"ps8708 ss242\"><span class=\"f charStyle-054ead99 ps9768\">receivables</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9772 ss721\"><div><div class=\"ps8707 ss242\"><span class=\"f charStyle-054ead99 ps9770\">Contract <span class=\"f ps43\"> </span></span></div><div class=\"ps8708 ss242\"><span class=\"f charStyle-054ead99 ps9771\">assets</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9774 ss721\"><div><div class=\"ps8707 ss242\"><span class=\"f charStyle-054ead99 ps9773\">Expected <span class=\"f ps43\"> </span></span></div><div class=\"ps8708 ss242\"><span class=\"f charStyle-054ead99 ps5201\">loss</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9775 ss707\"><div><div class=\"ps8708 ss298\"><span class=\"f charStyle-054ead99 ps7676\">Total<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5132 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-23b55a92 ps42\">31 December 2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps9776 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-1bac868e ps633\">Not due<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9777 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.17pt\"></span></span><span class=\"ps7251\">115,559</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9778 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:30.02pt\"></span></span><span class=\"ps7261\">81,923</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9780 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9781 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.92pt\"></span></span><span class=\"ps9668\">197,482</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps6696 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-1bac868e ps633\">Overdue 1-30 days<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9783 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.67pt\"></span></span><span class=\"ps9782\">716</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9784 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9785 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9786 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">716</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps9787 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-1bac868e ps633\">Overdue 31 to 60 days<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9788 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.87pt\"></span></span><span class=\"ps7269\">1,459</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9789 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9790 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9791 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7271\">1,459</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7370 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-1bac868e ps633\">Overdue +61 days<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9792 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9793 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9794 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9795 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9796 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-b07b4361 ps42\">Total<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9797 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.77pt\"></span></span><span class=\"ps7274\">117,734</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9799 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.94pt\"></span></span><span class=\"ps9798\">81,923</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9800 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9801 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.52pt\"></span></span><span class=\"ps7276\">199,657</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2086 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-23b55a92 ps42\">31 December 2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps2016 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-1bac868e ps633\">Not due<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9802 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:30.02pt\"></span></span><span class=\"ps7261\">49,029</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9803 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:30.02pt\"></span></span><span class=\"ps7261\">37,609</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9804 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9805 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7253\">86,638</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps7639 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-1bac868e ps633\">Overdue 1-30 days<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9806 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9807 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9808 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9809 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps5840 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-1bac868e ps633\">Overdue 31 to 60 days<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9810 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.87pt\"></span></span><span class=\"ps7269\">2,373</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9811 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9812 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9813 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7271\">2,373</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6590 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-1bac868e ps633\">Overdue +61 days<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9814 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.52pt\"></span></span><span class=\"ps9725\">65</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9815 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9816 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9817 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.27pt\"></span></span><span class=\"ps9565\">65</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9818 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-b07b4361 ps42\">Total<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9819 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.94pt\"></span></span><span class=\"ps9798\">51,467</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9820 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.94pt\"></span></span><span class=\"ps9798\">37,609</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9821 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9822 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7284\">89,076</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5731 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-23b55a92 ps42\">31 December 2023<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps9823 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-1bac868e ps633\">Not due<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9824 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.87pt\"></span></span><span class=\"ps7269\">9,639</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9825 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.87pt\"></span></span><span class=\"ps7269\">8,880</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9826 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9827 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7253\">18,519</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps9828 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-1bac868e ps633\">Overdue 1-30 days<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9829 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:30.02pt\"></span></span><span class=\"ps7261\">14,287</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9830 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9831 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9832 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7253\">14,287</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps9833 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-1bac868e ps633\">Overdue 31 to 60 days<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9834 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.67pt\"></span></span><span class=\"ps9782\">603</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9835 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9836 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9837 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">603</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps3784 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-1bac868e ps633\">Overdue +61 days<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9838 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.87pt\"></span></span><span class=\"ps7269\">2,273</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9839 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9840 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9841 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7271\">2,273</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9842 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-b07b4361 ps42\">Total<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9843 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.94pt\"></span></span><span class=\"ps9798\">26,802</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9845 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:33.11pt\"></span></span><span class=\"ps9844\">8,880</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9846 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9847 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7284\">35,682</span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-570": {
   "value": "<div class=\"ps7168 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The table below outlines movements in contract assets during the year:</span></div><div class=\"ps8712 ss0\"><div class=\"ss177 ws0 ps1056\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:171.75pt\"></td><td style=\"padding:0;width:81.75pt\"></td><td style=\"padding:0;width:81.75pt\"></td><td style=\"padding:0;width:81.75pt\"></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss715\"><div><div class=\"ps6190 ss714\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9723 ss716\"><div><div class=\"ps4278 ss181\"><span class=\"f charStyle-281247bf ps9722\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7608 ss716\"><div><div class=\"ps4278 ss181\"><span class=\"f charStyle-054ead99 ps9722\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9724 ss716\"><div><div class=\"ps4278 ss181\"><span class=\"f charStyle-054ead99 ps9722\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4283 ss717\"><div><div class=\"ps5618 ss714\"><span class=\"f charStyle-b07b4361 ps42\">Contract assets at 1 January<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9726 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.52pt\"></span></span><span class=\"ps9725\">37,609</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9728 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.37pt\"></span></span><span class=\"ps9727\">8,880</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9729 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.52pt\"></span></span><span class=\"ps9725\">19,999</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5184 ss717\"><div><div class=\"ps5618 ss714\"><span class=\"f charStyle-1bac868e ps633\">Acquisition of businesses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9730 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:63.72pt\"></span></span><span class=\"ps1079\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9731 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:63.72pt\"></span></span><span class=\"ps1079\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9732 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.37pt\"></span></span><span class=\"ps9727\">8,266</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5193 ss717\"><div><div class=\"ps5618 ss714\"><span class=\"f charStyle-1bac868e ps633\">Recognised during the period<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9733 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.52pt\"></span></span><span class=\"ps9725\">81,923</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9734 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.52pt\"></span></span><span class=\"ps9725\">37,710</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9736 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:58.17pt\"></span></span><span class=\"ps9735\">614</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5200 ss717\"><div><div class=\"ps5618 ss714\"><span class=\"f charStyle-1bac868e ps633\">Transfer to receivables<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9738 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.1pt\"></span></span><span class=\"ps9737\">(37,609)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9740 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:45.95pt\"></span></span><span class=\"ps9739\">(8,880)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9741 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.1pt\"></span></span><span class=\"ps9737\">(19,999)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5209 ss717\"><div><div class=\"ps5618 ss714\"><span class=\"f charStyle-1bac868e ps633\">Exchange differences<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9742 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:63.72pt\"></span></span><span class=\"ps1079\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9744 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:52.75pt\"></span></span><span class=\"ps9743\">(101)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9745 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:63.72pt\"></span></span><span class=\"ps1079\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5677 ss717\"><div><div class=\"ps5618 ss714\"><span class=\"f charStyle-b07b4361 ps42\">Total contract assets at 31 December<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9747 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.44pt\"></span></span><span class=\"ps9746\">81,923</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9748 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.44pt\"></span></span><span class=\"ps9746\">37,609</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9750 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.61pt\"></span></span><span class=\"ps9749\">8,880</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps6295 ss717\"><div><div class=\"ps5618 ss714\"><span class=\"f charStyle-b07b4361 ps42\">Current<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9751 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.44pt\"></span></span><span class=\"ps9746\">81,923</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9752 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.44pt\"></span></span><span class=\"ps9746\">37,609</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9753 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.61pt\"></span></span><span class=\"ps9749\">8,880</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps6296 ss717\"><div><div class=\"ps5618 ss714\"><span class=\"f charStyle-b07b4361 ps42\">Non-current<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9754 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:63.72pt\"></span></span><span class=\"ps1079\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9755 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:63.72pt\"></span></span><span class=\"ps1079\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9756 ss718\"><div><div class=\"ps5618 ss181\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:63.72pt\"></span></span><span class=\"ps1079\">\u2014</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Expected credit loss on trade receivables<span id=\"i83725c9e4c5643f481f0fbf04d4f78e1\"></span></span></div><div class=\"ps372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group has historically only experienced immaterial credit losses on trade receivables, if any. In addition, </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">a material part of the cash flows under the Group\u2019s contracts consist of prepayments received up front.</span></div><div class=\"ps374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group's assessment remains consistent with its historical experiences. Although certain receivables may </span></div><div class=\"ps375 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">become up to </span><span class=\"f charStyle-c1b8f9f6 ps8990\">30 days</span><span class=\"f charStyle-c1b8f9f6 ps9759\"> overdue, the Group\u2019s overall credit risk profile remains unchanged. This assessment is </span></div><div class=\"ps376 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">supported by historical loss data, a limited number of reliable counterparties, and the Group\u2019s forward-</span></div><div class=\"ps377 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">looking outlook.</span></div><div class=\"ps9760 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies<span id=\"id45d7b41ad8e457a85cd27d16fcb0747\"></span></span></div><div class=\"ps9761 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Financial assets<span id=\"i84d16ac46774406bb2607018955ce9e3\"></span></span></div><div class=\"ps9762 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The classification of financial assets depends on the Group\u2019s business model for managing the financial </span></div><div class=\"ps9763 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">assets as well as the contractual terms of the cash flows of the respective financial assets.</span></div><div class=\"ps3382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1760\">(1)<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1761\">At initial recognition: the Group measures a financial asset at fair value, plus, in the case of a </span></div><div class=\"ps3384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">financial asset not measured at fair value through profit or loss, transaction costs that are directly </span></div><div class=\"ps3385 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">attributable to the acquisition of the financial assets. Transaction costs of financial assets carried at </span></div><div class=\"ps3386 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">fair value through profit or loss are recognised as an expense in profit or loss.</span></div><div class=\"ps2680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1760\">(1i)<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1761\">At subsequent measurement: the Group\u2019s financial assets mainly comprise cash and bank balances, </span></div><div class=\"ps2681 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">trade receivables and other current assets.</span></div><div class=\"ps9622 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Interest income from these financial assets is recognised using the effective interest rate method.</span></div><div class=\"ps2357 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group assesses on a forward-looking basis the expected credit losses associated with its financial assets </span></div><div class=\"ps2358 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">carried at amortised cost. For trade and other receivables, the Group applied the simplified approach </span></div><div class=\"ps2359 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">permitted by IFRS 9, which requires lifetime expected losses to be recognised from initial recognition of the </span></div><div class=\"ps2360 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">receivables.</span></div><div class=\"ps7498 ss0\"><div class=\"ss177 ws0 ps1056\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:146.25pt\"></td><td style=\"padding:0;width:65.25pt\"></td><td style=\"padding:0;width:65.25pt\"></td><td style=\"padding:0;width:65.25pt\"></td><td style=\"padding:0;width:75pt\"></td></tr><tr style=\"height:27pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss720\"><div><div class=\"ps9766 ss719\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9769 ss721\"><div><div class=\"ps8707 ss242\"><span class=\"f charStyle-054ead99 ps9767\">Trade <span class=\"f ps43\"> </span></span></div><div class=\"ps8708 ss242\"><span class=\"f charStyle-054ead99 ps9768\">receivables</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9772 ss721\"><div><div class=\"ps8707 ss242\"><span class=\"f charStyle-054ead99 ps9770\">Contract <span class=\"f ps43\"> </span></span></div><div class=\"ps8708 ss242\"><span class=\"f charStyle-054ead99 ps9771\">assets</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9774 ss721\"><div><div class=\"ps8707 ss242\"><span class=\"f charStyle-054ead99 ps9773\">Expected <span class=\"f ps43\"> </span></span></div><div class=\"ps8708 ss242\"><span class=\"f charStyle-054ead99 ps5201\">loss</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9775 ss707\"><div><div class=\"ps8708 ss298\"><span class=\"f charStyle-054ead99 ps7676\">Total<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5132 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-23b55a92 ps42\">31 December 2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps9776 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-1bac868e ps633\">Not due<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9777 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.17pt\"></span></span><span class=\"ps7251\">115,559</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9778 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:30.02pt\"></span></span><span class=\"ps7261\">81,923</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9780 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9781 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.92pt\"></span></span><span class=\"ps9668\">197,482</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps6696 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-1bac868e ps633\">Overdue 1-30 days<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9783 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.67pt\"></span></span><span class=\"ps9782\">716</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9784 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9785 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9786 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">716</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps9787 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-1bac868e ps633\">Overdue 31 to 60 days<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9788 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.87pt\"></span></span><span class=\"ps7269\">1,459</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9789 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9790 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9791 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7271\">1,459</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7370 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-1bac868e ps633\">Overdue +61 days<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9792 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9793 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9794 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9795 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9796 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-b07b4361 ps42\">Total<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9797 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.77pt\"></span></span><span class=\"ps7274\">117,734</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9799 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.94pt\"></span></span><span class=\"ps9798\">81,923</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9800 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9801 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.52pt\"></span></span><span class=\"ps7276\">199,657</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2086 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-23b55a92 ps42\">31 December 2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps2016 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-1bac868e ps633\">Not due<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9802 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:30.02pt\"></span></span><span class=\"ps7261\">49,029</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9803 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:30.02pt\"></span></span><span class=\"ps7261\">37,609</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9804 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9805 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7253\">86,638</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps7639 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-1bac868e ps633\">Overdue 1-30 days<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9806 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9807 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9808 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9809 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps5840 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-1bac868e ps633\">Overdue 31 to 60 days<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9810 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.87pt\"></span></span><span class=\"ps7269\">2,373</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9811 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9812 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9813 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7271\">2,373</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6590 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-1bac868e ps633\">Overdue +61 days<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9814 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.52pt\"></span></span><span class=\"ps9725\">65</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9815 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9816 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9817 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.27pt\"></span></span><span class=\"ps9565\">65</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9818 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-b07b4361 ps42\">Total<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9819 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.94pt\"></span></span><span class=\"ps9798\">51,467</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9820 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.94pt\"></span></span><span class=\"ps9798\">37,609</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9821 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9822 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7284\">89,076</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5731 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-23b55a92 ps42\">31 December 2023<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps9823 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-1bac868e ps633\">Not due<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9824 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.87pt\"></span></span><span class=\"ps7269\">9,639</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9825 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.87pt\"></span></span><span class=\"ps7269\">8,880</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9826 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9827 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7253\">18,519</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps9828 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-1bac868e ps633\">Overdue 1-30 days<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9829 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:30.02pt\"></span></span><span class=\"ps7261\">14,287</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9830 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9831 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9832 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7253\">14,287</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps9833 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-1bac868e ps633\">Overdue 31 to 60 days<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9834 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.67pt\"></span></span><span class=\"ps9782\">603</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9835 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9836 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9837 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">603</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps3784 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-1bac868e ps633\">Overdue +61 days<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9838 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.87pt\"></span></span><span class=\"ps7269\">2,273</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9839 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9840 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9841 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7271\">2,273</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9842 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-b07b4361 ps42\">Total<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9843 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.94pt\"></span></span><span class=\"ps9798\">26,802</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9845 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:33.11pt\"></span></span><span class=\"ps9844\">8,880</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9846 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9847 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7284\">35,682</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps8664 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps2468\">Impairment of financial assets<span id=\"i3b70c7b829894e87a71fb465e6fd3d12\"></span></span></div><div class=\"ps8665 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">The Group assesses on a forward-looking basis the expected credit losses (ECLs) associated with its </span></div><div class=\"ps8666 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">financial assets which include trade and other receivables, cash and bank balances and contract assets. </span></div><div class=\"ps8667 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">Financial assets are written off when there is no reasonable expectation of recovery, such as when a non-</span></div><div class=\"ps8668 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">related debtor fails to engage in a repayment plan with the Group.</span></div><div class=\"ps8669 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">Where receivables have been written off, the Group continues to pursue enforcement activities in an </span></div><div class=\"ps8670 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">attempt to recover amounts due. Where recoveries are made, these are recognised in profit or loss. As of </span></div><div class=\"ps8671 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">the reporting date, no receivables have been written off.</span></div><div class=\"ps3356 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">The Group has applied the simplified credit loss approach by using a provision matrix to measure the </span></div><div class=\"ps3191 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">lifetime expected credit losses for trade receivables from customers. To measure expected credit losses, the </span></div><div class=\"ps8673 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">Group groups receivables based on shared credit characteristics and days past due.</span></div><div class=\"ps9620 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">Trade receivables from external customers that are neither past due nor impaired are with creditworthy </span></div><div class=\"ps10261 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">counterparties. Based on the provision matrix, trade receivables from external customers are subject to </span></div><div class=\"ps10262 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">immaterial credit loss. For further analysis, refer to Note 16 for details on expected credit losses on trade </span></div><div class=\"ps10265 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">receivables and contract assets.</span></div><div class=\"ps10264 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">For cash and bank balances and other receivables measured at amortised cost, the Group considers these </span></div><div class=\"ps10266 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">financial assets to have low credit risk. Cash and bank balances mainly comprise deposits with banks that </span></div><div class=\"ps8692 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">have high credit ratings, as determined by international credit rating agencies. As of </span><span class=\"f charStyle-c1b8f9f6 ps10267\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10268\">, </span></div><div class=\"ps10271 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">cash and bank balances and other receivables are subject to immaterial credit loss. There is </span><span class=\"f charStyle-c1b8f9f6 ps10269\">no</span><span class=\"f charStyle-c1b8f9f6 ps10270\"> credit loss </span></div><div class=\"ps10278 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">allowance for other financial assets measured at amortised cost as of </span><span class=\"f charStyle-c1b8f9f6 ps10272\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10273\">, </span><span class=\"f charStyle-c1b8f9f6 ps10274\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10275\"> and </span><span class=\"f charStyle-c1b8f9f6 ps10276\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10277\">.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-571": {
   "value": "<div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Expected credit loss on trade receivables<span id=\"i83725c9e4c5643f481f0fbf04d4f78e1\"></span></span></div><div class=\"ps372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group has historically only experienced immaterial credit losses on trade receivables, if any. In addition, </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">a material part of the cash flows under the Group\u2019s contracts consist of prepayments received up front.</span></div><div class=\"ps374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group's assessment remains consistent with its historical experiences. Although certain receivables may </span></div><div class=\"ps375 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">become up to </span><span class=\"f charStyle-c1b8f9f6 ps8990\">30 days</span><span class=\"f charStyle-c1b8f9f6 ps9759\"> overdue, the Group\u2019s overall credit risk profile remains unchanged. This assessment is </span></div><div class=\"ps376 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">supported by historical loss data, a limited number of reliable counterparties, and the Group\u2019s forward-</span></div><div class=\"ps377 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">looking outlook.</span></div><div class=\"ps9760 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies<span id=\"id45d7b41ad8e457a85cd27d16fcb0747\"></span></span></div><div class=\"ps9761 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Financial assets<span id=\"i84d16ac46774406bb2607018955ce9e3\"></span></span></div><div class=\"ps9762 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The classification of financial assets depends on the Group\u2019s business model for managing the financial </span></div><div class=\"ps9763 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">assets as well as the contractual terms of the cash flows of the respective financial assets.</span></div><div class=\"ps3382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1760\">(1)<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1761\">At initial recognition: the Group measures a financial asset at fair value, plus, in the case of a </span></div><div class=\"ps3384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">financial asset not measured at fair value through profit or loss, transaction costs that are directly </span></div><div class=\"ps3385 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">attributable to the acquisition of the financial assets. Transaction costs of financial assets carried at </span></div><div class=\"ps3386 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">fair value through profit or loss are recognised as an expense in profit or loss.</span></div><div class=\"ps2680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1760\">(1i)<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1761\">At subsequent measurement: the Group\u2019s financial assets mainly comprise cash and bank balances, </span></div><div class=\"ps2681 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">trade receivables and other current assets.</span></div><div class=\"ps9622 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Interest income from these financial assets is recognised using the effective interest rate method.</span></div><div class=\"ps2357 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group assesses on a forward-looking basis the expected credit losses associated with its financial assets </span></div><div class=\"ps2358 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">carried at amortised cost. For trade and other receivables, the Group applied the simplified approach </span></div><div class=\"ps2359 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">permitted by IFRS 9, which requires lifetime expected losses to be recognised from initial recognition of the </span></div><div class=\"ps2360 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">receivables.</span></div><div class=\"ps7498 ss0\"><div class=\"ss177 ws0 ps1056\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:146.25pt\"></td><td style=\"padding:0;width:65.25pt\"></td><td style=\"padding:0;width:65.25pt\"></td><td style=\"padding:0;width:65.25pt\"></td><td style=\"padding:0;width:75pt\"></td></tr><tr style=\"height:27pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss720\"><div><div class=\"ps9766 ss719\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9769 ss721\"><div><div class=\"ps8707 ss242\"><span class=\"f charStyle-054ead99 ps9767\">Trade <span class=\"f ps43\"> </span></span></div><div class=\"ps8708 ss242\"><span class=\"f charStyle-054ead99 ps9768\">receivables</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9772 ss721\"><div><div class=\"ps8707 ss242\"><span class=\"f charStyle-054ead99 ps9770\">Contract <span class=\"f ps43\"> </span></span></div><div class=\"ps8708 ss242\"><span class=\"f charStyle-054ead99 ps9771\">assets</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9774 ss721\"><div><div class=\"ps8707 ss242\"><span class=\"f charStyle-054ead99 ps9773\">Expected <span class=\"f ps43\"> </span></span></div><div class=\"ps8708 ss242\"><span class=\"f charStyle-054ead99 ps5201\">loss</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9775 ss707\"><div><div class=\"ps8708 ss298\"><span class=\"f charStyle-054ead99 ps7676\">Total<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5132 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-23b55a92 ps42\">31 December 2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps9776 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-1bac868e ps633\">Not due<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9777 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.17pt\"></span></span><span class=\"ps7251\">115,559</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9778 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:30.02pt\"></span></span><span class=\"ps7261\">81,923</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9780 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9781 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.92pt\"></span></span><span class=\"ps9668\">197,482</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps6696 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-1bac868e ps633\">Overdue 1-30 days<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9783 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.67pt\"></span></span><span class=\"ps9782\">716</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9784 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9785 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9786 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">716</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps9787 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-1bac868e ps633\">Overdue 31 to 60 days<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9788 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.87pt\"></span></span><span class=\"ps7269\">1,459</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9789 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9790 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9791 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7271\">1,459</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7370 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-1bac868e ps633\">Overdue +61 days<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9792 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9793 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9794 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9795 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9796 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-b07b4361 ps42\">Total<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9797 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:22.77pt\"></span></span><span class=\"ps7274\">117,734</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9799 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.94pt\"></span></span><span class=\"ps9798\">81,923</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9800 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9801 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.52pt\"></span></span><span class=\"ps7276\">199,657</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2086 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-23b55a92 ps42\">31 December 2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps2016 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-1bac868e ps633\">Not due<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9802 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:30.02pt\"></span></span><span class=\"ps7261\">49,029</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9803 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:30.02pt\"></span></span><span class=\"ps7261\">37,609</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9804 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9805 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7253\">86,638</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps7639 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-1bac868e ps633\">Overdue 1-30 days<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9806 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9807 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9808 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9809 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps5840 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-1bac868e ps633\">Overdue 31 to 60 days<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9810 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.87pt\"></span></span><span class=\"ps7269\">2,373</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9811 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9812 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9813 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7271\">2,373</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6590 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-1bac868e ps633\">Overdue +61 days<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9814 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.52pt\"></span></span><span class=\"ps9725\">65</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9815 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9816 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9817 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.27pt\"></span></span><span class=\"ps9565\">65</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9818 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-b07b4361 ps42\">Total<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9819 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.94pt\"></span></span><span class=\"ps9798\">51,467</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9820 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.94pt\"></span></span><span class=\"ps9798\">37,609</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9821 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9822 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7284\">89,076</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5731 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-23b55a92 ps42\">31 December 2023<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps9823 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-1bac868e ps633\">Not due<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9824 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.87pt\"></span></span><span class=\"ps7269\">9,639</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9825 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.87pt\"></span></span><span class=\"ps7269\">8,880</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9826 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9827 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7253\">18,519</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps9828 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-1bac868e ps633\">Overdue 1-30 days<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9829 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:30.02pt\"></span></span><span class=\"ps7261\">14,287</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9830 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9831 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9832 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7253\">14,287</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps9833 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-1bac868e ps633\">Overdue 31 to 60 days<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9834 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.67pt\"></span></span><span class=\"ps9782\">603</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9835 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9836 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9837 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">603</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps3784 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-1bac868e ps633\">Overdue +61 days<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9838 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.87pt\"></span></span><span class=\"ps7269\">2,273</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9839 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9840 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9841 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7271\">2,273</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9842 ss722\"><div><div class=\"ps2570 ss719\"><span class=\"f charStyle-b07b4361 ps42\">Total<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9843 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.94pt\"></span></span><span class=\"ps9798\">26,802</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9845 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:33.11pt\"></span></span><span class=\"ps9844\">8,880</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9846 ss723\"><div><div class=\"ps2570 ss242\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9779\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9847 ss724\"><div><div class=\"ps2570 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7284\">35,682</span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-573": {
   "value": "<div class=\"ps9760 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies<span id=\"id45d7b41ad8e457a85cd27d16fcb0747\"></span></span></div><div class=\"ps9761 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Financial assets<span id=\"i84d16ac46774406bb2607018955ce9e3\"></span></span></div><div class=\"ps9762 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The classification of financial assets depends on the Group\u2019s business model for managing the financial </span></div><div class=\"ps9763 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">assets as well as the contractual terms of the cash flows of the respective financial assets.</span></div><div class=\"ps3382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1760\">(1)<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1761\">At initial recognition: the Group measures a financial asset at fair value, plus, in the case of a </span></div><div class=\"ps3384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">financial asset not measured at fair value through profit or loss, transaction costs that are directly </span></div><div class=\"ps3385 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">attributable to the acquisition of the financial assets. Transaction costs of financial assets carried at </span></div><div class=\"ps3386 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">fair value through profit or loss are recognised as an expense in profit or loss.</span></div><div class=\"ps2680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1760\">(1i)<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1761\">At subsequent measurement: the Group\u2019s financial assets mainly comprise cash and bank balances, </span></div><div class=\"ps2681 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">trade receivables and other current assets.</span></div><div class=\"ps9622 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Interest income from these financial assets is recognised using the effective interest rate method.</span></div><div class=\"ps2357 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group assesses on a forward-looking basis the expected credit losses associated with its financial assets </span></div><div class=\"ps2358 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">carried at amortised cost. For trade and other receivables, the Group applied the simplified approach </span></div><div class=\"ps2359 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">permitted by IFRS 9, which requires lifetime expected losses to be recognised from initial recognition of the </span></div><div class=\"ps2360 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">receivables.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-572": {
   "value": "<div class=\"ps9760 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies<span id=\"id45d7b41ad8e457a85cd27d16fcb0747\"></span></span></div><div class=\"ps9761 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Financial assets<span id=\"i84d16ac46774406bb2607018955ce9e3\"></span></span></div><div class=\"ps9762 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The classification of financial assets depends on the Group\u2019s business model for managing the financial </span></div><div class=\"ps9763 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">assets as well as the contractual terms of the cash flows of the respective financial assets.</span></div><div class=\"ps3382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1760\">(1)<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1761\">At initial recognition: the Group measures a financial asset at fair value, plus, in the case of a </span></div><div class=\"ps3384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">financial asset not measured at fair value through profit or loss, transaction costs that are directly </span></div><div class=\"ps3385 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">attributable to the acquisition of the financial assets. Transaction costs of financial assets carried at </span></div><div class=\"ps3386 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">fair value through profit or loss are recognised as an expense in profit or loss.</span></div><div class=\"ps2680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1760\">(1i)<span class=\"f ps43\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1761\">At subsequent measurement: the Group\u2019s financial assets mainly comprise cash and bank balances, </span></div><div class=\"ps2681 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">trade receivables and other current assets.</span></div><div class=\"ps9622 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Interest income from these financial assets is recognised using the effective interest rate method.</span></div><div class=\"ps2357 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group assesses on a forward-looking basis the expected credit losses associated with its financial assets </span></div><div class=\"ps2358 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">carried at amortised cost. For trade and other receivables, the Group applied the simplified approach </span></div><div class=\"ps2359 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">permitted by IFRS 9, which requires lifetime expected losses to be recognised from initial recognition of the </span></div><div class=\"ps2360 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">receivables.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-574": {
   "value": "<div class=\"ps9622 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Interest income from these financial assets is recognised using the effective interest rate method.</span></div><div class=\"ps2357 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group assesses on a forward-looking basis the expected credit losses associated with its financial assets </span></div><div class=\"ps2358 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">carried at amortised cost. For trade and other receivables, the Group applied the simplified approach </span></div><div class=\"ps2359 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">permitted by IFRS 9, which requires lifetime expected losses to be recognised from initial recognition of the </span></div><div class=\"ps2360 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">receivables.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-575": {
   "value": "<div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 17</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Prepayments and other non-current assets<span id=\"i6641be902cd8446ab2d3b35b94f740f3\"></span></span></div><div class=\"ps7670 ss0\"><div class=\"ss239 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:123pt\"></td><td style=\"padding:0;width:97.5pt\"></td><td style=\"padding:0;width:97.5pt\"></td><td style=\"padding:0;width:97.5pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss726\"><div><div class=\"ps750 ss725\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9850 ss728\"><div><div class=\"ps44 ss727\"><span class=\"f charStyle-281247bf ps9849\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9851 ss728\"><div><div class=\"ps44 ss727\"><span class=\"f charStyle-054ead99 ps9849\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9852 ss728\"><div><div class=\"ps44 ss727\"><span class=\"f charStyle-054ead99 ps9849\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps46 ss726\"><div><div class=\"ps44 ss725\"><span class=\"f charStyle-1bac868e ps633\">Prepayments (Current)<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9854 ss728\"><div><div class=\"ps44 ss727\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:61.92pt\"></span></span><span class=\"ps9853\">13,523</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9855 ss728\"><div><div class=\"ps44 ss727\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:61.92pt\"></span></span><span class=\"ps9853\">16,643</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9857 ss728\"><div><div class=\"ps44 ss727\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:66.77pt\"></span></span><span class=\"ps9856\">9,562</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps3485 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Prepayments include deferred costs like bank loan fees, commitment fees of uncommitted facilities, annual </span></div><div class=\"ps9858 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">insurance premiums and annual software subscriptions.</span></div><div class=\"ps9860 ss0\"><div class=\"ss239 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:123pt\"></td><td style=\"padding:0;width:97.5pt\"></td><td style=\"padding:0;width:97.5pt\"></td><td style=\"padding:0;width:97.5pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss726\"><div><div class=\"ps750 ss725\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9850 ss728\"><div><div class=\"ps44 ss727\"><span class=\"f charStyle-281247bf ps9849\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9851 ss728\"><div><div class=\"ps44 ss727\"><span class=\"f charStyle-054ead99 ps9849\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9852 ss728\"><div><div class=\"ps44 ss727\"><span class=\"f charStyle-054ead99 ps9849\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps46 ss726\"><div><div class=\"ps44 ss725\"><span class=\"f charStyle-1bac868e ps633\">Other non-current assets<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9854 ss728\"><div><div class=\"ps44 ss727\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:61.92pt\"></span></span><span class=\"ps9853\">54,069</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9855 ss728\"><div><div class=\"ps44 ss727\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:66.77pt\"></span></span><span class=\"ps9856\">7,211</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9857 ss728\"><div><div class=\"ps44 ss727\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:79.12pt\"></span></span><span class=\"ps9859\">\u2014</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps3286 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Other non-current assets include EUR </span><span class=\"f charStyle-c1b8f9f6 ps9861\">20</span><span class=\"f charStyle-c1b8f9f6 ps9862\"> million primarily relating to certain prepayments.</span></div><div class=\"ps9866 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Cash deposits subject to restrictions, of </span><span class=\"f charStyle-c1b8f9f6 ps9863\">34.1</span><span class=\"f charStyle-c1b8f9f6 ps8167\"> million as at 31 December 2025 (2024: </span><span class=\"f charStyle-c1b8f9f6 ps9864\">7.2</span><span class=\"f charStyle-c1b8f9f6 ps9865\"> million) are included </span></div><div class=\"ps9867 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">in the Other non-current assets balance.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-576": {
   "value": "<div class=\"ps9869 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 18</span></div><div class=\"ps9870 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Cash and Cash Equivalents<span id=\"i07dfc656d4544d9a926d4c136c0aae0f\"></span></span></div><div class=\"ps9877 ss0\"><div class=\"ss239 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:123pt\"></td><td style=\"padding:0;width:97.5pt\"></td><td style=\"padding:0;width:97.5pt\"></td><td style=\"padding:0;width:97.5pt\"></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss729\"><div><div class=\"ps6190 ss725\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9850 ss730\"><div><div class=\"ps4278 ss727\"><span class=\"f charStyle-281247bf ps9871\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9851 ss730\"><div><div class=\"ps4278 ss727\"><span class=\"f charStyle-054ead99 ps9871\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9852 ss730\"><div><div class=\"ps4278 ss727\"><span class=\"f charStyle-054ead99 ps9871\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4283 ss726\"><div><div class=\"ps44 ss725\"><span class=\"f charStyle-1bac868e ps633\">Cash at bank and on hand<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9873 ss728\"><div><div class=\"ps44 ss727\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:57.42pt\"></span></span><span class=\"ps9872\">151,679</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9875 ss728\"><div><div class=\"ps44 ss727\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:62.27pt\"></span></span><span class=\"ps9874\">51,253</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9876 ss728\"><div><div class=\"ps44 ss727\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:62.27pt\"></span></span><span class=\"ps9874\">96,608</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps9880 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Company held cash as of </span><span class=\"f charStyle-c1b8f9f6 ps9878\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps9879\"> with the intention of paying assets under construction-</span></div><div class=\"ps4972 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">related instalments in </span><span class=\"f charStyle-c1b8f9f6 ps9881\">2026</span><span class=\"f charStyle-c1b8f9f6 ps9882\">.</span></div><div class=\"ps9883 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies <span id=\"i77381d018b0949e7983fba488dc3e9f9\"></span></span></div><div class=\"ps4894 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Cash and cash equivalents consist of cash net of short-term bank overdrafts, as these are considered an </span></div><div class=\"ps4895 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">integral part of the Group\u2019s cash management. Cash and cash equivalents are me</span><span class=\"f charStyle-c1b8f9f6 ps9884\">asured at amortised cost.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-577": {
   "value": "<div class=\"ps9883 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Accounting policies <span id=\"i77381d018b0949e7983fba488dc3e9f9\"></span></span></div><div class=\"ps4894 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Cash and cash equivalents consist of cash net of short-term bank overdrafts, as these are considered an </span></div><div class=\"ps4895 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">integral part of the Group\u2019s cash management. Cash and cash equivalents are me</span><span class=\"f charStyle-c1b8f9f6 ps9884\">asured at amortised cost.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-578": {
   "value": "<div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 19</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Statement of Cash Flows Specifications<span id=\"i263bcf97ee1245eea8e1f01be936ffd4\"></span></span></div><div class=\"ps7670 ss0\"><div class=\"ss534 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:189.75pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss521\"><div><div class=\"ps6190 ss426\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5499 ss533\"><div><div class=\"ps4278 ss337\"><span class=\"f charStyle-054ead99 ps6301\">Note<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6303 ss533\"><div><div class=\"ps4278 ss337\"><span class=\"f charStyle-281247bf ps6302\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6304 ss533\"><div><div class=\"ps4278 ss337\"><span class=\"f charStyle-054ead99 ps6302\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6305 ss533\"><div><div class=\"ps4278 ss337\"><span class=\"f charStyle-054ead99 ps6302\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4283 ss531\"><div><div class=\"ps2693 ss426\"><span class=\"f charStyle-b07b4361 ps42\">Adjustments of non-cash items<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5184 ss531\"><div><div class=\"ps2693 ss426\"><span class=\"f charStyle-1bac868e ps633\">Depreciation and amortisation<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9901 ss473\"><div><div class=\"ps5182 ss337\"><span class=\"f charStyle-e5ec5c44 ps7674\">\u00a012\u00a0,\u00a013\u00a0,\u00a014<span class=\"f ps43\"> </span></span></div><div class=\"ps5183 ss337\"><span class=\"f charStyle-e5ec5c44 ps7676\">\u00a0</span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9902 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:16.17pt\"></span></span><span class=\"ps6343\">107,519</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9903 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6307\">56,595</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9904 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6307\">23,048</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5193 ss531\"><div><div class=\"ps2693 ss426\"><span class=\"f charStyle-1bac868e ps633\">Impairment of fixed assets<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9906 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44 ps9905\">13<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9907 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6333\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9908 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6333\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9909 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">5,000</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5200 ss531\"><div><div class=\"ps5182 ss426\"><span class=\"f charStyle-1bac868e ps633\">Non-cash disposals of property, plant and <span class=\"f ps43\"> </span></span></div><div class=\"ps5183 ss426\"><span class=\"f charStyle-1bac868e ps633\">equipment and intangible assets</span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9910 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44 ps6324\">\u00a012\u00a0,\u00a013\u00a0<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9911 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.37pt\"></span></span><span class=\"ps7722\">1</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9912 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6318\">183</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9913 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6333\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5209 ss531\"><div><div class=\"ps2693 ss426\"><span class=\"f charStyle-1bac868e ps633\">Other operating income and expenses, net<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9914 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44 ps7682\">5<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9915 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6333\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9916 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6333\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9917 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.25pt\"></span></span><span class=\"ps7744\">(137)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5677 ss531\"><div><div class=\"ps2693 ss426\"><span class=\"f charStyle-1bac868e ps633\">Finance income<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9918 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44 ps7682\">9<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9919 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:20.45pt\"></span></span><span class=\"ps7533\">(1,714)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9920 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:20.45pt\"></span></span><span class=\"ps7533\">(3,294)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9921 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6333\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps6295 ss531\"><div><div class=\"ps2693 ss426\"><span class=\"f charStyle-1bac868e ps633\">Interest expenses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9922 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44 ps7682\">9<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9923 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6307\">15,993</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9924 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6318\">428</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7808 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">1,898</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps6296 ss531\"><div><div class=\"ps2693 ss426\"><span class=\"f charStyle-1bac868e ps633\">Finance costs<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9925 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44 ps7682\">9<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9926 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.25pt\"></span></span><span class=\"ps7744\">(725)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9927 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">2,589</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9928 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6333\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps9929 ss531\"><div><div class=\"ps2693 ss426\"><span class=\"f charStyle-1bac868e ps633\">Income tax expense<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9930 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">7,680</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9931 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">2,401</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9932 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6333\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps9933 ss531\"><div><div class=\"ps5182 ss426\"><span class=\"f charStyle-1bac868e ps633\">Fair value change of derivative instruments <span class=\"f ps43\"> </span></span></div><div class=\"ps5183 ss426\"><span class=\"f charStyle-1bac868e ps633\">through profit or loss</span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9934 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44 ps7682\">9<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9935 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6318\">630</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9936 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.25pt\"></span></span><span class=\"ps7744\">(427)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9937 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6318\">766</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps7489 ss531\"><div><div class=\"ps2693 ss426\"><span class=\"f charStyle-1bac868e ps633\">Items recycled<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9938 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44 ps9905\">25<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9939 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6318\">947</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9940 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6333\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9941 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6333\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps9942 ss531\"><div><div class=\"ps2693 ss426\"><span class=\"f charStyle-1bac868e ps633\">Share-based payment expenses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9943 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">2,071</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9944 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">1,662</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9945 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">1,134</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9946 ss531\"><div><div class=\"ps2693 ss426\"><span class=\"f charStyle-b07b4361 ps42\">Total adjustments of non-cash items<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9947 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:13.77pt\"></span></span><span class=\"ps6369\">132,402</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9948 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7387\">60,137</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9949 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7387\">31,709</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7670 ss0\"><div class=\"ss534 ws0 ps1056\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:189.75pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss521\"><div><div class=\"ps4278 ss426\"><span class=\"f charStyle-b07b4361 ps42\">Changes in working capital<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5499 ss533\"><div><div class=\"ps4278 ss337\"><span class=\"f charStyle-054ead99 ps6301\">Note<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#225f78;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6303 ss533\"><div><div class=\"ps4278 ss337\"><span class=\"f charStyle-281247bf ps6302\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6304 ss533\"><div><div class=\"ps4278 ss337\"><span class=\"f charStyle-054ead99 ps6302\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6305 ss533\"><div><div class=\"ps4278 ss337\"><span class=\"f charStyle-054ead99 ps6302\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4283 ss531\"><div><div class=\"ps2693 ss426\"><span class=\"f charStyle-1bac868e ps633\">Inventories<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#225f78;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps6308 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:20.45pt\"></span></span><span class=\"ps7533\">(2,501)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps6309 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6318\">788</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps6310 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:20.45pt\"></span></span><span class=\"ps7533\">(1,140)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5184 ss531\"><div><div class=\"ps5182 ss426\"><span class=\"f charStyle-1bac868e ps633\">Trade receivables, contract assets, <span class=\"f ps43\"> </span></span></div><div class=\"ps5183 ss426\"><span class=\"f charStyle-1bac868e ps633\">prepayments and other receivables</span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#225f78;padding:0\"><div class=\"ps9902 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:10.75pt\"></span></span><span class=\"ps9950\">(133,703)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9903 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:15.6pt\"></span></span><span class=\"ps7530\">(62,706)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9904 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6307\">28,541</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5193 ss531\"><div><div class=\"ps2693 ss426\"><span class=\"f charStyle-1bac868e ps633\">Trade and other payables<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#225f78;padding:0\"><div class=\"ps9907 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">8,126</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9908 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6318\">380</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9909 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:15.6pt\"></span></span><span class=\"ps7530\">(16,087)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5200 ss531\"><div><div class=\"ps2693 ss426\"><span class=\"f charStyle-1bac868e ps633\">Provisions<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#225f78;padding:0\"><div class=\"ps9911 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.25pt\"></span></span><span class=\"ps7744\">(841)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9912 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:20.45pt\"></span></span><span class=\"ps7533\">(6,059)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9913 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6333\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5209 ss531\"><div><div class=\"ps2693 ss426\"><span class=\"f charStyle-1bac868e ps633\">Receivables from related parties<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#225f78;padding:0\"><div class=\"ps9915 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6333\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9916 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6318\">414</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9917 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6333\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5677 ss531\"><div><div class=\"ps2693 ss426\"><span class=\"f charStyle-1bac868e ps633\">Payables to related parties<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#225f78;padding:0\"><div class=\"ps9919 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.52pt\"></span></span><span class=\"ps6363\">49</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9920 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.52pt\"></span></span><span class=\"ps6363\">51</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9921 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.52pt\"></span></span><span class=\"ps6363\">73</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps6295 ss531\"><div><div class=\"ps2693 ss426\"><span class=\"f charStyle-1bac868e ps633\">Deferred revenue<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#225f78;padding:0\"><div class=\"ps9923 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:16.17pt\"></span></span><span class=\"ps6343\">112,280</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9924 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6307\">33,482</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7808 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6320\">8,787</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6296 ss531\"><div><div class=\"ps2693 ss426\"><span class=\"f charStyle-b07b4361 ps42\">Net change in working capital<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#225f78;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9926 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:12.3pt\"></span></span><span class=\"ps9951\">(16,590)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9927 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:12.3pt\"></span></span><span class=\"ps9951\">(33,650)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9928 ss473\"><div><div class=\"ps2693 ss337\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7387\">20,174</span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCashFlowStatementExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-579": {
   "value": "<div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 20</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Provisions, Trade and Other Payables<span id=\"ib2f2e6c88b024669a77c303002a856ac\"></span></span></div><div class=\"ps7670 ss0\"><div class=\"ss732 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:200.25pt\"></td><td style=\"padding:0;width:69pt\"></td><td style=\"padding:0;width:69pt\"></td><td style=\"padding:0;width:69pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss610\"><div><div class=\"ps7604 ss318\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7606 ss731\"><div><div class=\"ps438 ss507\"><span class=\"f charStyle-281247bf ps9958\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9959 ss731\"><div><div class=\"ps438 ss507\"><span class=\"f charStyle-054ead99 ps9958\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9960 ss731\"><div><div class=\"ps438 ss507\"><span class=\"f charStyle-054ead99 ps9958\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps442 ss610\"><div><div class=\"ps438 ss318\"><span class=\"f charStyle-b07b4361 ps42\">Trade and other payables:<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps463 ss610\"><div><div class=\"ps438 ss318\"><span class=\"f charStyle-1bac868e ps633\">Trade payables<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9962 ss731\"><div><div class=\"ps438 ss507\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:33.77pt\"></span></span><span class=\"ps9961\">22,388</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9963 ss731\"><div><div class=\"ps438 ss507\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:33.77pt\"></span></span><span class=\"ps9961\">11,577</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9964 ss731\"><div><div class=\"ps438 ss507\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:38.62pt\"></span></span><span class=\"ps2033\">8,399</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5507 ss610\"><div><div class=\"ps438 ss318\"><span class=\"f charStyle-1bac868e ps633\">Other payables<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9965 ss731\"><div><div class=\"ps438 ss507\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:33.77pt\"></span></span><span class=\"ps9961\">75,820</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9966 ss731\"><div><div class=\"ps438 ss507\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:33.77pt\"></span></span><span class=\"ps9961\">32,018</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9967 ss731\"><div><div class=\"ps438 ss507\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:33.77pt\"></span></span><span class=\"ps9961\">24,237</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5516 ss610\"><div><div class=\"ps438 ss318\"><span class=\"f charStyle-b07b4361 ps42\">Total trade and other payables<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9969 ss731\"><div><div class=\"ps438 ss507\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:31.69pt\"></span></span><span class=\"ps9968\">98,208</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9970 ss731\"><div><div class=\"ps438 ss507\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:31.69pt\"></span></span><span class=\"ps9968\">43,595</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9971 ss731\"><div><div class=\"ps438 ss507\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:31.69pt\"></span></span><span class=\"ps9968\">32,636</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps9972 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The increase in other payables is attributable to year-end activity and the timing of payment processing.</span></div><div class=\"ps9999 ss0\"><div class=\"ss732 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:200.25pt\"></td><td style=\"padding:0;width:69pt\"></td><td style=\"padding:0;width:69pt\"></td><td style=\"padding:0;width:69pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss610\"><div><div class=\"ps7604 ss318\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7606 ss731\"><div><div class=\"ps438 ss507\"><span class=\"f charStyle-281247bf ps9958\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9959 ss731\"><div><div class=\"ps438 ss507\"><span class=\"f charStyle-054ead99 ps9958\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9960 ss731\"><div><div class=\"ps438 ss507\"><span class=\"f charStyle-054ead99 ps9958\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps442 ss610\"><div><div class=\"ps438 ss318\"><span class=\"f charStyle-b07b4361 ps42\">Provisions at 1 January:<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9974 ss731\"><div><div class=\"ps438 ss507\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:45.42pt\"></span></span><span class=\"ps9973\">841</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9975 ss731\"><div><div class=\"ps438 ss507\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:38.62pt\"></span></span><span class=\"ps2033\">6,899</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9977 ss731\"><div><div class=\"ps438 ss507\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.97pt\"></span></span><span class=\"ps9976\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps463 ss610\"><div><div class=\"ps438 ss318\"><span class=\"f charStyle-1bac868e ps633\">Acquisition of businesses<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9962 ss731\"><div><div class=\"ps438 ss507\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.97pt\"></span></span><span class=\"ps9976\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9963 ss731\"><div><div class=\"ps438 ss507\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.97pt\"></span></span><span class=\"ps9976\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9964 ss731\"><div><div class=\"ps438 ss507\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:38.62pt\"></span></span><span class=\"ps2033\">6,987</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5507 ss610\"><div><div class=\"ps438 ss318\"><span class=\"f charStyle-1bac868e ps633\">Additions during the year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9965 ss731\"><div><div class=\"ps438 ss507\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.97pt\"></span></span><span class=\"ps9976\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9966 ss731\"><div><div class=\"ps438 ss507\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.97pt\"></span></span><span class=\"ps9976\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9967 ss731\"><div><div class=\"ps438 ss507\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.97pt\"></span></span><span class=\"ps9976\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5516 ss610\"><div><div class=\"ps438 ss318\"><span class=\"f charStyle-1bac868e ps633\">Utilised during the year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9969 ss731\"><div><div class=\"ps438 ss507\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40pt\"></span></span><span class=\"ps9978\">(421)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9970 ss731\"><div><div class=\"ps438 ss507\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:33.2pt\"></span></span><span class=\"ps9979\">(4,570)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9971 ss731\"><div><div class=\"ps438 ss507\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.97pt\"></span></span><span class=\"ps9976\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5521 ss610\"><div><div class=\"ps438 ss318\"><span class=\"f charStyle-1bac868e ps633\">Reversed during the year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9980 ss731\"><div><div class=\"ps438 ss507\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40pt\"></span></span><span class=\"ps9978\">(420)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9981 ss731\"><div><div class=\"ps438 ss507\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:33.2pt\"></span></span><span class=\"ps9979\">(1,576)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9982 ss731\"><div><div class=\"ps438 ss507\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.97pt\"></span></span><span class=\"ps9976\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5526 ss610\"><div><div class=\"ps438 ss318\"><span class=\"f charStyle-1bac868e ps633\">Exchange differences<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9983 ss731\"><div><div class=\"ps438 ss507\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.97pt\"></span></span><span class=\"ps9976\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9985 ss731\"><div><div class=\"ps438 ss507\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.27pt\"></span></span><span class=\"ps9984\">88</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9987 ss731\"><div><div class=\"ps438 ss507\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.85pt\"></span></span><span class=\"ps9986\">(88)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps62 ss610\"><div><div class=\"ps438 ss318\"><span class=\"f charStyle-b07b4361 ps42\">Total provisions at 31 December<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9988 ss731\"><div><div class=\"ps438 ss507\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.97pt\"></span></span><span class=\"ps9976\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9990 ss731\"><div><div class=\"ps438 ss507\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.46pt\"></span></span><span class=\"ps9989\">841</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9992 ss731\"><div><div class=\"ps438 ss507\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.86pt\"></span></span><span class=\"ps9991\">6,899</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5160 ss610\"><div><div class=\"ps438 ss318\"><span class=\"f charStyle-b07b4361 ps42\">Current<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9993 ss731\"><div><div class=\"ps438 ss507\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.97pt\"></span></span><span class=\"ps9976\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9994 ss731\"><div><div class=\"ps438 ss507\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.46pt\"></span></span><span class=\"ps9989\">841</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9995 ss731\"><div><div class=\"ps438 ss507\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.86pt\"></span></span><span class=\"ps9991\">2,086</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5534 ss610\"><div><div class=\"ps438 ss318\"><span class=\"f charStyle-b07b4361 ps42\">Non-current<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9996 ss731\"><div><div class=\"ps438 ss507\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.97pt\"></span></span><span class=\"ps9976\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9997 ss731\"><div><div class=\"ps438 ss507\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.97pt\"></span></span><span class=\"ps9976\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9998 ss731\"><div><div class=\"ps438 ss507\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.86pt\"></span></span><span class=\"ps9991\">4,813</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps10000 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The provisions relate to an onerous contract and were released in 2025 following the settlement of the </span></div><div class=\"ps10002 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">related obligations. For further information, please refer to </span><span class=\"f charStyle-c1b8f9f6 ps10001\">Note 4.</span></div><div class=\"ps7781 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Accounting policies<span id=\"i0e2a59b7f3894ea2994a4e401dde6b73\"></span></span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Trade and other payables represent liabilities for goods and services provided to the Group before the end </span></div><div class=\"ps7146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">of the financial year, that remain unpaid. They are classified as current liabilities if payment is due within one </span></div><div class=\"ps7149 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">year or less (within the normal operating cycle of the business, if longer). Otherwise, they are presented as </span></div><div class=\"ps7564 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">non-current liabilities. Trade and other payables are initially recognised at fair value, and subsequently </span></div><div class=\"ps7565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">carried at amortised cost, using the effective interest method. </span></div><div class=\"ps7103 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">A provision is recognised for certain contracts with customers where the unavoidable costs of meeting the </span></div><div class=\"ps7104 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">performance obligations exceed the economic benefits expected to be received. These costs are expected </span></div><div class=\"ps7150 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">to be incurred in the following financial year.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-580": {
   "value": "<div class=\"ps7781 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Accounting policies<span id=\"i0e2a59b7f3894ea2994a4e401dde6b73\"></span></span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Trade and other payables represent liabilities for goods and services provided to the Group before the end </span></div><div class=\"ps7146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">of the financial year, that remain unpaid. They are classified as current liabilities if payment is due within one </span></div><div class=\"ps7149 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">year or less (within the normal operating cycle of the business, if longer). Otherwise, they are presented as </span></div><div class=\"ps7564 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">non-current liabilities. Trade and other payables are initially recognised at fair value, and subsequently </span></div><div class=\"ps7565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">carried at amortised cost, using the effective interest method. </span></div><div class=\"ps7103 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">A provision is recognised for certain contracts with customers where the unavoidable costs of meeting the </span></div><div class=\"ps7104 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">performance obligations exceed the economic benefits expected to be received. These costs are expected </span></div><div class=\"ps7150 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">to be incurred in the following financial year.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-582": {
   "value": "<div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 22</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Issued Share Capital<span id=\"i86eed5e387814478a4c5bb5ec1bf3d73\"></span></span></div><div class=\"ps7670 ss0\"><div class=\"ss194 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:209.25pt\"></td><td style=\"padding:0;width:103.5pt\"></td><td style=\"padding:0;width:103.5pt\"></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss733\"><div><div class=\"ps8179 ss182\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10110 ss735\"><div><div class=\"ps5619 ss734\"><span class=\"f charStyle-054ead99 ps10108\">No. of shares (in <span class=\"f ps43\"> </span></span></div><div class=\"ps5618 ss734\"><span class=\"f charStyle-054ead99 ps10109\">thousands)</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10112 ss735\"><div><div class=\"ps5618 ss734\"><span class=\"f charStyle-281247bf ps10111\">Total<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps1978 ss733\"><div><div class=\"ps2693 ss182\"><span class=\"f charStyle-1bac868e ps633\">Beginning of financial year 2023<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10114 ss735\"><div><div class=\"ps2693 ss734\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:63.42pt\"></span></span><span class=\"ps10113\">197,600</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10116 ss735\"><div><div class=\"ps2693 ss734\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:68.27pt\"></span></span><span class=\"ps10115\">26,575</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7522 ss733\"><div><div class=\"ps2693 ss182\"><span class=\"f charStyle-1bac868e ps633\">First issue for capital increase 2023<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10117 ss735\"><div><div class=\"ps2693 ss734\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:63.42pt\"></span></span><span class=\"ps10113\">113,809</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10118 ss735\"><div><div class=\"ps2693 ss734\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:68.27pt\"></span></span><span class=\"ps10115\">15,263</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7526 ss733\"><div><div class=\"ps2693 ss182\"><span class=\"f charStyle-b07b4361 ps42\">End of financial year 2023<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10120 ss735\"><div><div class=\"ps2693 ss734\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:61.02pt\"></span></span><span class=\"ps10119\">311,409</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10122 ss735\"><div><div class=\"ps2693 ss734\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:66.19pt\"></span></span><span class=\"ps10121\">41,838</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2297 ss733\"><div><div class=\"ps2693 ss182\"><span class=\"f charStyle-1bac868e ps633\">First issue for capital increase 2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10123 ss735\"><div><div class=\"ps2693 ss734\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:68.27pt\"></span></span><span class=\"ps10115\">39,520</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10125 ss735\"><div><div class=\"ps2693 ss734\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:73.12pt\"></span></span><span class=\"ps10124\">5,302</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps495 ss733\"><div><div class=\"ps2693 ss182\"><span class=\"f charStyle-1bac868e ps633\">Second issue for capital increase 2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10127 ss735\"><div><div class=\"ps2693 ss734\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:84.77pt\"></span></span><span class=\"ps10126\">28</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10129 ss735\"><div><div class=\"ps2693 ss734\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:89.62pt\"></span></span><span class=\"ps10128\">4</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps1043 ss733\"><div><div class=\"ps2693 ss182\"><span class=\"f charStyle-b07b4361 ps42\">End of financial year 2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10130 ss735\"><div><div class=\"ps2693 ss734\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:61.02pt\"></span></span><span class=\"ps10119\">350,957</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10131 ss735\"><div><div class=\"ps2693 ss734\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:66.19pt\"></span></span><span class=\"ps10121\">47,144</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps66 ss733\"><div><div class=\"ps2693 ss182\"><span class=\"f charStyle-b07b4361 ps42\">End of financial year 2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10132 ss735\"><div><div class=\"ps2693 ss734\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:61.02pt\"></span></span><span class=\"ps10119\">350,957</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10133 ss735\"><div><div class=\"ps2693 ss734\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:66.19pt\"></span></span><span class=\"ps10121\">47,144</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps5418 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">As of 31 December 2025, the Group had share capital amounting to DKK </span><span class=\"f charStyle-c1b8f9f6 ps10134\">350,958\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps10135\">, eq</span><span class=\"f charStyle-c1b8f9f6 ps10136\">ual to </span><span class=\"f charStyle-c1b8f9f6 ps10137\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10138\"> </span></div><div class=\"ps3607 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">47,144 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10139\">, consisting of </span><span class=\"f charStyle-c1b8f9f6 ps10140\">350,957,583</span><span class=\"f charStyle-c1b8f9f6 ps10141\"> shares of nominal </span><span class=\"f charStyle-c1b8f9f6 ps10142\">DKK1</span><span class=\"f charStyle-c1b8f9f6 ps8053\"> each. </span></div><div class=\"ps10143 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">All shares have equal rights. </span></div><div class=\"ps7781 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Treasury shares<span id=\"ic734e3b709c44435ba1c624ab153f482\"></span></span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">On 30 May </span><span class=\"f charStyle-c1b8f9f6 ps10145\">2025</span><span class=\"f charStyle-c1b8f9f6 ps10146\">, the Company completed a share buy-back program to fulfil share-based incentive </span></div><div class=\"ps7146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">obligations resulting in the repurchase of </span><span class=\"f charStyle-c1b8f9f6 ps10147\">395,200</span><span class=\"f charStyle-c1b8f9f6 ps10148\"> shares of a nominal price of DKK </span><span class=\"f charStyle-c1b8f9f6 ps10149\">1</span><span class=\"f charStyle-c1b8f9f6 ps10150\"> each at an average </span></div><div class=\"ps7149 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">price of NOK </span><span class=\"f charStyle-c1b8f9f6 ps10151\">49.90</span><span class=\"f charStyle-c1b8f9f6 ps10152\">, corresponding to an aggregate amount of </span><span class=\"f charStyle-c1b8f9f6 ps10153\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10154\"> </span><span class=\"f charStyle-c1b8f9f6 ps10155\">1.7\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10156\">, including commission. As of </span></div><div class=\"ps7564 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10157\">, the Company holds </span><span class=\"f charStyle-c1b8f9f6 ps10158\">89,992</span><span class=\"f charStyle-c1b8f9f6 ps10159\"> treasury shares. </span></div><div class=\"ps10160 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Accounting policies<span id=\"i698f23eb0d4f46b3907f168ecb3e0f79\"></span></span></div><div class=\"ps10161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Ordinary shares are classified as equity. When there is a capital increase through the issuance of new shares, </span></div><div class=\"ps7740 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">these shares are recorded at their nominal value.</span></div><div class=\"ps379 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The s</span><span class=\"f charStyle-c1b8f9f6 ps10162\">hare premium reserve represents capital contributed by investors in excess of the nominal value of the </span></div><div class=\"ps401 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">shares issued, net of any incremental costs directly attributable to the issuance of new shares.</span></div><div class=\"ps381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Own equity instruments that are reacquired (treasury shares) are recognised at cost and deducted from </span></div><div class=\"ps382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">equity. No gain or loss is recognised in profit or loss on the purchase, sale, issue or cancellation of the </span></div><div class=\"ps383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Group\u2019s own equity instruments. Any difference between the carrying amount and the consideration </span></div><div class=\"ps384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">received, upon reissuance, is recognised in equity.</span></div><div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Capital management<span id=\"i025d8568241546d6b01fee9b47d8e40f\"></span></span></div><div class=\"ps372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Company\u2019s objectives when managing capital are to ensure the </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Company\u2019s ability to continue as a going concern and to maintain an </span></div><div class=\"ps400 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">optimal capital structure.</span></div><div class=\"ps375 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In order to achieve this overall objective, the Company\u2019s capital </span></div><div class=\"ps376 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">management aims, among other things, to ensure compliance wth </span></div><div class=\"ps377 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the financial covenants attached to the interest-bearing loans and </span></div><div class=\"ps378 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">borrowings that define capital structure requirements. A breach of </span></div><div class=\"ps379 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the financial covenants would permit the bank to immediately call </span></div><div class=\"ps401 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">loans and borrowings. There have been no breaches of the financial </span></div><div class=\"ps402 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">covenants of any interest-bearing loans and borrowing in the current </span></div><div class=\"ps10479 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">period.</span></div><div class=\"ps383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In order to maintain or adjust the capital structure in the future, the </span></div><div class=\"ps384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Group may adjust dividend payments to shareholders, issue new </span></div><div class=\"ps403 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">shares and/or dispose of assets to reduce debt. Pursuant to the </span></div><div class=\"ps429 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Green Corporate Facility, the Company is not permitted to pay any </span></div><div class=\"ps430 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">dividends or other distributions without the prior written consent of </span></div><div class=\"ps431 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">DNB Bank ASA.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-581": {
   "value": "<div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 22</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Issued Share Capital<span id=\"i86eed5e387814478a4c5bb5ec1bf3d73\"></span></span></div><div class=\"ps7670 ss0\"><div class=\"ss194 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:209.25pt\"></td><td style=\"padding:0;width:103.5pt\"></td><td style=\"padding:0;width:103.5pt\"></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss733\"><div><div class=\"ps8179 ss182\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10110 ss735\"><div><div class=\"ps5619 ss734\"><span class=\"f charStyle-054ead99 ps10108\">No. of shares (in <span class=\"f ps43\"> </span></span></div><div class=\"ps5618 ss734\"><span class=\"f charStyle-054ead99 ps10109\">thousands)</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10112 ss735\"><div><div class=\"ps5618 ss734\"><span class=\"f charStyle-281247bf ps10111\">Total<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps1978 ss733\"><div><div class=\"ps2693 ss182\"><span class=\"f charStyle-1bac868e ps633\">Beginning of financial year 2023<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10114 ss735\"><div><div class=\"ps2693 ss734\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:63.42pt\"></span></span><span class=\"ps10113\">197,600</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10116 ss735\"><div><div class=\"ps2693 ss734\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:68.27pt\"></span></span><span class=\"ps10115\">26,575</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7522 ss733\"><div><div class=\"ps2693 ss182\"><span class=\"f charStyle-1bac868e ps633\">First issue for capital increase 2023<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10117 ss735\"><div><div class=\"ps2693 ss734\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:63.42pt\"></span></span><span class=\"ps10113\">113,809</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10118 ss735\"><div><div class=\"ps2693 ss734\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:68.27pt\"></span></span><span class=\"ps10115\">15,263</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7526 ss733\"><div><div class=\"ps2693 ss182\"><span class=\"f charStyle-b07b4361 ps42\">End of financial year 2023<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10120 ss735\"><div><div class=\"ps2693 ss734\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:61.02pt\"></span></span><span class=\"ps10119\">311,409</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10122 ss735\"><div><div class=\"ps2693 ss734\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:66.19pt\"></span></span><span class=\"ps10121\">41,838</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2297 ss733\"><div><div class=\"ps2693 ss182\"><span class=\"f charStyle-1bac868e ps633\">First issue for capital increase 2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10123 ss735\"><div><div class=\"ps2693 ss734\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:68.27pt\"></span></span><span class=\"ps10115\">39,520</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10125 ss735\"><div><div class=\"ps2693 ss734\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:73.12pt\"></span></span><span class=\"ps10124\">5,302</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps495 ss733\"><div><div class=\"ps2693 ss182\"><span class=\"f charStyle-1bac868e ps633\">Second issue for capital increase 2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10127 ss735\"><div><div class=\"ps2693 ss734\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:84.77pt\"></span></span><span class=\"ps10126\">28</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10129 ss735\"><div><div class=\"ps2693 ss734\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:89.62pt\"></span></span><span class=\"ps10128\">4</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps1043 ss733\"><div><div class=\"ps2693 ss182\"><span class=\"f charStyle-b07b4361 ps42\">End of financial year 2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10130 ss735\"><div><div class=\"ps2693 ss734\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:61.02pt\"></span></span><span class=\"ps10119\">350,957</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10131 ss735\"><div><div class=\"ps2693 ss734\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:66.19pt\"></span></span><span class=\"ps10121\">47,144</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps66 ss733\"><div><div class=\"ps2693 ss182\"><span class=\"f charStyle-b07b4361 ps42\">End of financial year 2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10132 ss735\"><div><div class=\"ps2693 ss734\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:61.02pt\"></span></span><span class=\"ps10119\">350,957</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10133 ss735\"><div><div class=\"ps2693 ss734\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:66.19pt\"></span></span><span class=\"ps10121\">47,144</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps5418 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">As of 31 December 2025, the Group had share capital amounting to DKK </span><span class=\"f charStyle-c1b8f9f6 ps10134\">350,958\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps10135\">, eq</span><span class=\"f charStyle-c1b8f9f6 ps10136\">ual to </span><span class=\"f charStyle-c1b8f9f6 ps10137\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10138\"> </span></div><div class=\"ps3607 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">47,144 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10139\">, consisting of </span><span class=\"f charStyle-c1b8f9f6 ps10140\">350,957,583</span><span class=\"f charStyle-c1b8f9f6 ps10141\"> shares of nominal </span><span class=\"f charStyle-c1b8f9f6 ps10142\">DKK1</span><span class=\"f charStyle-c1b8f9f6 ps8053\"> each. </span></div><div class=\"ps10143 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">All shares have equal rights. </span></div><div class=\"ps7781 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Treasury shares<span id=\"ic734e3b709c44435ba1c624ab153f482\"></span></span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">On 30 May </span><span class=\"f charStyle-c1b8f9f6 ps10145\">2025</span><span class=\"f charStyle-c1b8f9f6 ps10146\">, the Company completed a share buy-back program to fulfil share-based incentive </span></div><div class=\"ps7146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">obligations resulting in the repurchase of </span><span class=\"f charStyle-c1b8f9f6 ps10147\">395,200</span><span class=\"f charStyle-c1b8f9f6 ps10148\"> shares of a nominal price of DKK </span><span class=\"f charStyle-c1b8f9f6 ps10149\">1</span><span class=\"f charStyle-c1b8f9f6 ps10150\"> each at an average </span></div><div class=\"ps7149 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">price of NOK </span><span class=\"f charStyle-c1b8f9f6 ps10151\">49.90</span><span class=\"f charStyle-c1b8f9f6 ps10152\">, corresponding to an aggregate amount of </span><span class=\"f charStyle-c1b8f9f6 ps10153\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10154\"> </span><span class=\"f charStyle-c1b8f9f6 ps10155\">1.7\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10156\">, including commission. As of </span></div><div class=\"ps7564 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10157\">, the Company holds </span><span class=\"f charStyle-c1b8f9f6 ps10158\">89,992</span><span class=\"f charStyle-c1b8f9f6 ps10159\"> treasury shares. </span></div><div class=\"ps10160 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Accounting policies<span id=\"i698f23eb0d4f46b3907f168ecb3e0f79\"></span></span></div><div class=\"ps10161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Ordinary shares are classified as equity. When there is a capital increase through the issuance of new shares, </span></div><div class=\"ps7740 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">these shares are recorded at their nominal value.</span></div><div class=\"ps379 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The s</span><span class=\"f charStyle-c1b8f9f6 ps10162\">hare premium reserve represents capital contributed by investors in excess of the nominal value of the </span></div><div class=\"ps401 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">shares issued, net of any incremental costs directly attributable to the issuance of new shares.</span></div><div class=\"ps381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Own equity instruments that are reacquired (treasury shares) are recognised at cost and deducted from </span></div><div class=\"ps382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">equity. No gain or loss is recognised in profit or loss on the purchase, sale, issue or cancellation of the </span></div><div class=\"ps383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Group\u2019s own equity instruments. Any difference between the carrying amount and the consideration </span></div><div class=\"ps384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">received, upon reissuance, is recognised in equity.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-583": {
   "value": "<div class=\"ps10160 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Accounting policies<span id=\"i698f23eb0d4f46b3907f168ecb3e0f79\"></span></span></div><div class=\"ps10161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Ordinary shares are classified as equity. When there is a capital increase through the issuance of new shares, </span></div><div class=\"ps7740 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">these shares are recorded at their nominal value.</span></div><div class=\"ps379 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The s</span><span class=\"f charStyle-c1b8f9f6 ps10162\">hare premium reserve represents capital contributed by investors in excess of the nominal value of the </span></div><div class=\"ps401 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">shares issued, net of any incremental costs directly attributable to the issuance of new shares.</span></div><div class=\"ps381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Own equity instruments that are reacquired (treasury shares) are recognised at cost and deducted from </span></div><div class=\"ps382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">equity. No gain or loss is recognised in profit or loss on the purchase, sale, issue or cancellation of the </span></div><div class=\"ps383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Group\u2019s own equity instruments. Any difference between the carrying amount and the consideration </span></div><div class=\"ps384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">received, upon reissuance, is recognised in equity.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForIssuedCapitalExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-584": {
   "value": "<div><div id=\"i60a9312555114c61b3ebee7078e135c5_2673\" style=\"position:absolute;top:42.52pt\"></div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 23. </span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Financial Risk Management<span id=\"i142e22eeb6ee4b569d62063b36a5336c\"></span></span></div><div class=\"ps10163 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Financial risk factors<span id=\"i92fef17d2ba64690b5da89bc24666508\"></span></span></div><div class=\"ps10164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group\u2019s activities expose it to market risk, including currency risk and interest rate risk, as well as credit </span></div><div class=\"ps10165 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">risk and liquidity risk.</span></div><div class=\"ps6996 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The financial risk management of the Group is performed by the Management of Cadeler and overseen by </span></div><div class=\"ps6997 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the Board of Directors and Audit Committee. The fair value of the Group's financial assets and liabilities as of </span></div><div class=\"ps3185 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps8018\"> does not deviate materially from the carrying amounts as of </span><span class=\"f charStyle-c1b8f9f6 ps10166\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10167\">.</span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-1819d385 ps186\">Quantitative and qualitative disclosures about market risk<span id=\"iea4977ea99a24a699f8a60be68581ddb\"></span></span></div><div class=\"ps10168 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Currency risk<span id=\"i172af3f680244f5d8fd11575933bbbc8\"></span></span></div><div class=\"ps10169 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group\u2019s business is exposed to the Danish Kroner (\u201cDKK\u201d), Norwegian Kroner (\u201cNOK\u201d), British Pound </span></div><div class=\"ps10170 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Sterling (\u201cGBP\u201d), United States Dollar (\u201cUSD\u201d), New Taiwan Dollar (\u201cTWD\u201d), and Japanese Yen (\u201cJPY\u201d), as </span></div><div class=\"ps10171 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">certain operating expenses are denominated in these currencies. The Company seeks to use financial </span></div><div class=\"ps7039 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">instruments to reduce currency risk when there is significant exposure to income or liabilities denominated </span></div><div class=\"ps7040 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">in currencies other than EUR or DKK, and where a cost-effective solution is available.</span></div><div class=\"ps10174 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-296ed202 ps186\">The functional currency of Cadeler A/S is </span><span class=\"f charStyle-296ed202 ps10172\">EUR</span><span class=\"f charStyle-296ed202 ps10173\">, while the largest currency exposure of the Group relates to </span></div><div class=\"ps10178 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-296ed202 ps186\">future instalments for newbuild vessels, denominated in USD, amounting to </span><span class=\"f charStyle-296ed202 ps10175\">USD </span><span class=\"f charStyle-296ed202 ps10176\">496\u00a0million</span><span class=\"f charStyle-296ed202 ps10177\">. Further details </span></div><div class=\"ps10179 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-296ed202 ps186\">regarding the instruments currently used to mitigate this currency risk are provided in Note 24. Management </span></div><div class=\"ps10180 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-296ed202 ps186\">and the Board of Directors evaluate the potential costs and benefits of currency exposure on an ongoing basis.</span></div><div class=\"ps10184 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">T</span><span class=\"f charStyle-c1b8f9f6 ps8951\">he Group holds cash balances in USD. If the USD:</span><span class=\"f charStyle-c1b8f9f6 ps1124\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10181\"> exchange rate were to deteriorate by </span><span class=\"f charStyle-c1b8f9f6 ps10182\">10%</span><span class=\"f charStyle-c1b8f9f6 ps10183\"> the result </span></div><div class=\"ps10200 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">before tax would have decreased by </span><span class=\"f charStyle-c1b8f9f6 ps10185\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10186\"> </span><span class=\"f charStyle-c1b8f9f6 ps10187\">1.6</span><span class=\"f charStyle-c1b8f9f6 ps10188\"> million (</span><span class=\"f charStyle-c1b8f9f6 ps10189\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7337\">: </span><span class=\"f charStyle-c1b8f9f6 ps10190\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10191\"> </span><span class=\"f charStyle-c1b8f9f6 ps10192\">1.8\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10193\">; </span><span class=\"f charStyle-c1b8f9f6 ps10194\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10195\">: </span><span class=\"f charStyle-c1b8f9f6 ps10196\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10197\"> </span><span class=\"f charStyle-c1b8f9f6 ps10198\">4.6\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10199\">), based on </span></div><div class=\"ps3199 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">USD cash holdings as of </span><span class=\"f charStyle-c1b8f9f6 ps10201\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10202\">.</span></div><div class=\"ps3272 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group holds cash balances in GBP. If the GBP:</span><span class=\"f charStyle-c1b8f9f6 ps10203\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10204\"> exchange rate were to deteriorate by </span><span class=\"f charStyle-c1b8f9f6 ps10205\">10%</span><span class=\"f charStyle-c1b8f9f6 ps10206\"> the result </span></div><div class=\"ps3273 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">before tax would have decreased by </span><span class=\"f charStyle-c1b8f9f6 ps10185\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10186\"> </span><span class=\"f charStyle-c1b8f9f6 ps10187\">0.4</span><span class=\"f charStyle-c1b8f9f6 ps10207\"> </span><span class=\"f charStyle-c1b8f9f6 ps10208\">million (</span><span class=\"f charStyle-c1b8f9f6 ps10209\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10210\">: </span><span class=\"f charStyle-c1b8f9f6 ps10211\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10212\"> </span><span class=\"f charStyle-c1b8f9f6 ps10213\">0.7\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10214\">) based on GBP cash holdings as </span></div><div class=\"ps3274 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">of </span><span class=\"f charStyle-c1b8f9f6 ps10215\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10216\">.</span></div><div class=\"ps2688 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-616c3f6a ps186\">As the DKK is pegged to the </span><span class=\"f charStyle-616c3f6a ps10217\">EUR</span><span class=\"f charStyle-616c3f6a ps10218\">, no material currency risk has been identified in relation to the DKK, despite the </span></div><div class=\"ps2689 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-616c3f6a ps186\">Cadeler Group incurring costs denominated in DKK. As of </span><span class=\"f charStyle-616c3f6a ps10219\">31\u00a0December 2025</span><span class=\"f charStyle-616c3f6a ps10220\">, the Cadeler Group did not hold any </span></div><div class=\"ps2690 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-616c3f6a ps186\">material cash balances denominated in NOK, JPY, or TWD.</span></div><div class=\"ps10221 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Currency risk associated with other financial instruments denominated in foriegn currencies is limited and </span></div><div class=\"ps10222 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">therefore excluded from this analysis. </span></div><div class=\"ps10163 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Interest rate risk<span id=\"i4a97714972f94b6d96c9ce5a4f4eb971\"></span></span></div><div class=\"ps10164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The Group\u2019s current exposure to the risk of changes in market interest rates relates primarily to the Green </span></div><div class=\"ps10165 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Corporate Facility, the P-class Facility, M-class Facility and Holdco Facility. Further details regarding the </span></div><div class=\"ps7738 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">hedging instruments used to mitigate this risk are provided in Note 24.</span></div><div class=\"ps6997 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The Green Corporate Facility and Holdco Facility are based on a EURIBOR 3M interest rate plus a margin. </span></div><div class=\"ps3185 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The EURIBOR interest rate has a floor of </span><span class=\"f charStyle-c1b8f9f6 ps10223\">0</span><span class=\"f charStyle-c1b8f9f6 ps10224\">bps and was </span><span class=\"f charStyle-c1b8f9f6 ps10225\">2.1%</span><span class=\"f charStyle-c1b8f9f6 ps10226\">, </span><span class=\"f charStyle-c1b8f9f6 ps10227\">2.9%</span><span class=\"f charStyle-c1b8f9f6 ps10228\"> and </span><span class=\"f charStyle-c1b8f9f6 ps10229\">3.9%</span><span class=\"f charStyle-c1b8f9f6 ps10230\"> at the end of </span><span class=\"f charStyle-c1b8f9f6 ps10231\">2025</span><span class=\"f charStyle-c1b8f9f6 ps10232\">, </span><span class=\"f charStyle-c1b8f9f6 ps10233\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10234\"> and </span></div><div class=\"ps6998 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10235\">, respectively. </span></div><div class=\"ps7740 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">If the EURIBOR interest rate increased </span><span class=\"f charStyle-c1b8f9f6 ps10236\">100bps</span><span class=\"f charStyle-c1b8f9f6 ps10237\">, and the loans had been provided throughout the entire </span><span class=\"f charStyle-c1b8f9f6 ps10238\">2025</span><span class=\"f charStyle-c1b8f9f6 ps10239\"> </span></div><div class=\"ps7741 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">reporting period, interest costs would have increased by </span><span class=\"f charStyle-c1b8f9f6 ps10240\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10241\"> </span><span class=\"f charStyle-c1b8f9f6 ps10242\">16.9\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10243\"> (</span><span class=\"f charStyle-c1b8f9f6 ps10244\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10245\">: </span><span class=\"f charStyle-c1b8f9f6 ps10246\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10247\"> </span><span class=\"f charStyle-c1b8f9f6 ps10248\">5.9\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10249\">; </span><span class=\"f charStyle-c1b8f9f6 ps10250\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10251\">: </span><span class=\"f charStyle-c1b8f9f6 ps10252\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10253\"> </span></div><div class=\"ps10255 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">2.1\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10254\">). Such an increase could potentially qualify as capitalisable borrowing costs, thereby mitigating </span></div><div class=\"ps7002 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">the impact on the result before tax. Conversely, if the interest rates were to decrease, the result before tax </span></div><div class=\"ps7003 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">would not be materially affected due to the capitalisation of borrowing costs.</span></div><div class=\"ps10256 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Management and the Board of Directors evaluate the potential costs and benefits of fixed interest rate </span></div><div class=\"ps10258 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">borrowing</span><span class=\"f charStyle-c1b8f9f6 ps10257\">s on an ongoing basis.</span></div></div><div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Credit risk<span id=\"if679800039c74b1ea6ede098b4004e4b\"></span></span></div><div class=\"ps8664 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Risk management<span id=\"ic761a30e8a4046648de8eb72c1862126\"></span></span></div><div class=\"ps8665 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in </span></div><div class=\"ps8666 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">financial loss to the Group. The Group adopts the following policies to mitigate credit risk.</span></div><div class=\"ps10259 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">For banks and financial institutions, the Group mitigates its credit risks by transacting only with </span></div><div class=\"ps10260 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">counterparties rated \u201cA\u201d or above by independent rating agencies.</span></div><div class=\"ps3353 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group adopts a policy of dealing only with customers with an appropriate credit history and obtaining </span></div><div class=\"ps3354 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">sufficient security where appropriate, to mitigate credit risk. The Group applies stringent procedures for </span></div><div class=\"ps3355 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">extending credit terms to customers and for the ongoing monitoring of credit risk.</span></div><div class=\"ps4552 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">These credit terms are normally contractual, and credit policies clearly define the guidelines for extending </span></div><div class=\"ps3357 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">credit to customers, including monitoring processes and reference to relevant industry practices. This </span></div><div class=\"ps9619 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">includes the assessment and evaluation of customers\u2019 creditworthiness and periodic reviews of their </span></div><div class=\"ps9620 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">financial status to determine the credit limits. Customers are also assessed based on their historical </span></div><div class=\"ps10261 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">payment behaviour. Where necessary, customers may be required to provide security or advance payments </span></div><div class=\"ps10262 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">before services are rendered.</span></div><div class=\"ps10263 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Related party credit risk is managed by the Executive Management of Cadeler and overseen by the Board </span></div><div class=\"ps10264 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">of Directors.</span></div><div class=\"ps4562 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The maximum exposure to credit risk is the carrying amount of trade receivables and other receivables, </span></div><div class=\"ps4563 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">receivables from group entities and cash and bank balances presented in the statement of financial </span></div><div class=\"ps4565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">position.</span></div><div class=\"ps8664 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps2468\">Impairment of financial assets<span id=\"i3b70c7b829894e87a71fb465e6fd3d12\"></span></span></div><div class=\"ps8665 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">The Group assesses on a forward-looking basis the expected credit losses (ECLs) associated with its </span></div><div class=\"ps8666 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">financial assets which include trade and other receivables, cash and bank balances and contract assets. </span></div><div class=\"ps8667 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">Financial assets are written off when there is no reasonable expectation of recovery, such as when a non-</span></div><div class=\"ps8668 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">related debtor fails to engage in a repayment plan with the Group.</span></div><div class=\"ps8669 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">Where receivables have been written off, the Group continues to pursue enforcement activities in an </span></div><div class=\"ps8670 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">attempt to recover amounts due. Where recoveries are made, these are recognised in profit or loss. As of </span></div><div class=\"ps8671 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">the reporting date, no receivables have been written off.</span></div><div class=\"ps3356 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">The Group has applied the simplified credit loss approach by using a provision matrix to measure the </span></div><div class=\"ps3191 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">lifetime expected credit losses for trade receivables from customers. To measure expected credit losses, the </span></div><div class=\"ps8673 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">Group groups receivables based on shared credit characteristics and days past due.</span></div><div class=\"ps9620 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">Trade receivables from external customers that are neither past due nor impaired are with creditworthy </span></div><div class=\"ps10261 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">counterparties. Based on the provision matrix, trade receivables from external customers are subject to </span></div><div class=\"ps10262 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">immaterial credit loss. For further analysis, refer to Note 16 for details on expected credit losses on trade </span></div><div class=\"ps10265 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">receivables and contract assets.</span></div><div class=\"ps10264 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">For cash and bank balances and other receivables measured at amortised cost, the Group considers these </span></div><div class=\"ps10266 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">financial assets to have low credit risk. Cash and bank balances mainly comprise deposits with banks that </span></div><div class=\"ps8692 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">have high credit ratings, as determined by international credit rating agencies. As of </span><span class=\"f charStyle-c1b8f9f6 ps10267\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10268\">, </span></div><div class=\"ps10271 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">cash and bank balances and other receivables are subject to immaterial credit loss. There is </span><span class=\"f charStyle-c1b8f9f6 ps10269\">no</span><span class=\"f charStyle-c1b8f9f6 ps10270\"> credit loss </span></div><div class=\"ps10278 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2468\">allowance for other financial assets measured at amortised cost as of </span><span class=\"f charStyle-c1b8f9f6 ps10272\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10273\">, </span><span class=\"f charStyle-c1b8f9f6 ps10274\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10275\"> and </span><span class=\"f charStyle-c1b8f9f6 ps10276\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10277\">.</span></div><div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Liquidity risk<span id=\"idfe3fde434fa473fb4f013dfa8994309\"></span></span></div><div class=\"ps372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group manages liquidity risk by maintaining sufficient cash and access to funding through committed </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">credit facilities to enabling it to meet its operational requirements and instalments payments for the </span></div><div class=\"ps400 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">contracted newbuild vessels. </span></div><div class=\"ps375 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The management of the Cadeler Group anticipates seeking additional debt financing in connection with </span></div><div class=\"ps376 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">milestone payments related to the delivery of the third A-class newbuild vessel. For further details, please </span></div><div class=\"ps377 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">refer to </span><span class=\"f charStyle-c1b8f9f6 ps10280\">Note 25,</span><span class=\"f charStyle-c1b8f9f6 ps10281\"> which provides a detailed disclosure of the Group\u2019s existing credit</span><span class=\"f charStyle-c1b8f9f6 ps10282\"> facilities. </span></div><div class=\"ps10283 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The following maturity table shows the contractual obligation relating to the construction of the newbuilds </span></div><div class=\"ps7438 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">vessels.</span></div><div class=\"ps7498 ss0\"><div class=\"ss194 ws0 ps1056\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:164.25pt\"></td><td style=\"padding:0;width:63pt\"></td><td style=\"padding:0;width:63pt\"></td><td style=\"padding:0;width:63pt\"></td><td style=\"padding:0;width:63pt\"></td></tr><tr style=\"height:24.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss737\"><div><div class=\"ps8179 ss736\"><span class=\"f charStyle-4979afbe ps42\">EUR Millions<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10286 ss738\"><div><div class=\"ps5619 ss204\"><span class=\"f charStyle-281247bf ps10284\">Less than 1 <span class=\"f ps43\"> </span></span></div><div class=\"ps5618 ss204\"><span class=\"f charStyle-281247bf ps10285\">year</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10289 ss738\"><div><div class=\"ps5619 ss204\"><span class=\"f charStyle-281247bf ps10287\">Between 1 <span class=\"f ps43\"> </span></span></div><div class=\"ps5618 ss204\"><span class=\"f charStyle-281247bf ps10288\">and 2 years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10290 ss738\"><div><div class=\"ps5619 ss204\"><span class=\"f charStyle-281247bf ps10287\">Between 2 <span class=\"f ps43\"> </span></span></div><div class=\"ps5618 ss204\"><span class=\"f charStyle-281247bf ps10288\">and 5 years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2244 ss738\"><div><div class=\"ps5618 ss204\"><span class=\"f charStyle-281247bf ps10291\">Total<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps1978 ss739\"><div><div class=\"ps627 ss736\"><span class=\"f charStyle-b07b4361 ps42\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:18pt\"><td style=\"padding:0\"><div class=\"ps6208 ss739\"><div><div class=\"ps627 ss736\"><span class=\"f charStyle-1bac868e ps633\">Obligation in USD<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10293 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10292\">301</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10294 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10292\">195</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10296 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.97pt\"></span></span><span class=\"ps10295\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10297 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10292\">496</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"padding:0\"><div class=\"ps5507 ss739\"><div><div class=\"ps627 ss736\"><span class=\"f charStyle-1bac868e ps633\">Obligation in USD (in EUR)<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10298 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10292\">256</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10299 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10292\">166</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10300 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.97pt\"></span></span><span class=\"ps10295\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10301 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10292\">422</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td colspan=\"3\" style=\"padding:0\"></td></tr><tr style=\"height:18pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps770 ss739\"><div><div class=\"ps627 ss736\"><span class=\"f charStyle-1bac868e ps633\">Obligation in EUR<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10302 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8409\">40</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10303 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.97pt\"></span></span><span class=\"ps10295\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10304 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.97pt\"></span></span><span class=\"ps10295\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10305 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8409\">40</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2883 ss739\"><div><div class=\"ps627 ss736\"><span class=\"f charStyle-23b55a92 ps42\">Total obligations (in EUR)<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10307 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:34.92pt\"></span></span><span class=\"ps9668\">296</span><span class=\"ps10306\">\u00b9</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10309 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10308\">166</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10310 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.97pt\"></span></span><span class=\"ps10295\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10311 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10308\">462</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2201 ss739\"><div><div class=\"ps627 ss736\"><span class=\"f charStyle-b07b4361 ps42\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:18pt\"><td style=\"padding:0\"><div class=\"ps5582 ss739\"><div><div class=\"ps627 ss736\"><span class=\"f charStyle-1bac868e ps633\">Obligation in USD<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10312 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10292\">651</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10313 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10292\">496</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10314 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10292\">195</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10316 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.62pt\"></span></span><span class=\"ps10315\">1,342</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"padding:0\"><div class=\"ps10317 ss739\"><div><div class=\"ps627 ss736\"><span class=\"f charStyle-1bac868e ps633\">Obligation in USD (in EUR)<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10318 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10292\">626</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10319 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10292\">476</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10320 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10292\">188</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10321 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.62pt\"></span></span><span class=\"ps10315\">1,290</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td colspan=\"3\" style=\"padding:0\"></td></tr><tr style=\"height:18pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6428 ss739\"><div><div class=\"ps627 ss736\"><span class=\"f charStyle-1bac868e ps633\">Obligation in EUR<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10322 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8409\">65</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10323 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8409\">40</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10324 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.97pt\"></span></span><span class=\"ps10295\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10325 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10292\">105</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5540 ss739\"><div><div class=\"ps627 ss736\"><span class=\"f charStyle-23b55a92 ps42\">Total obligations (in EUR)<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10326 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10308\">691</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10327 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10308\">516</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10328 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10308\">188</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10330 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:30.86pt\"></span></span><span class=\"ps10329\">1,395</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2903 ss739\"><div><div class=\"ps627 ss736\"><span class=\"f charStyle-b07b4361 ps42\">2023<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:18pt\"><td style=\"padding:0\"><div class=\"ps10331 ss739\"><div><div class=\"ps627 ss736\"><span class=\"f charStyle-1bac868e ps633\">Obligation in USD<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10332 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10292\">328</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10333 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10292\">833</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10334 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10292\">180</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10335 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.62pt\"></span></span><span class=\"ps10315\">1,341</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"padding:0\"><div class=\"ps3777 ss739\"><div><div class=\"ps627 ss736\"><span class=\"f charStyle-1bac868e ps633\">Obligation in USD (in EUR)<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10336 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10292\">296</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10337 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10292\">752</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10338 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10292\">163</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10339 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:32.62pt\"></span></span><span class=\"ps10315\">1,211</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td colspan=\"3\" style=\"padding:0\"></td></tr><tr style=\"height:18pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9270 ss739\"><div><div class=\"ps627 ss736\"><span class=\"f charStyle-1bac868e ps633\">Obligation in EUR<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10340 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8409\">69</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10341 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8409\">99</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10343 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:49.12pt\"></span></span><span class=\"ps10342\">6</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10344 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10292\">174</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps6458 ss739\"><div><div class=\"ps627 ss736\"><span class=\"f charStyle-23b55a92 ps42\">Total obligations (in EUR)<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10345 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10308\">365</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10346 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10308\">851</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10347 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10308\">169</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10348 ss740\"><div><div class=\"ps627 ss204\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:30.86pt\"></span></span><span class=\"ps10329\">1,385</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7019 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The table below analyses the maturity profile of the Company\u2019s financial liabilities based on contractual-</span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">undiscounted cash flows, excluding payments relating to newbuild vessels.</span></div><div class=\"ps10443 ss0\"><div class=\"ss177 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:180pt\"></td><td style=\"padding:0;width:59.25pt\"></td><td style=\"padding:0;width:59.25pt\"></td><td style=\"padding:0;width:59.25pt\"></td><td style=\"padding:0;width:59.25pt\"></td></tr><tr style=\"height:27pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss741\"><div><div class=\"ps10350 ss362\"><span class=\"f charStyle-4979afbe ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10353 ss742\"><div><div class=\"ps7475 ss148\"><span class=\"f charStyle-281247bf ps10351\">Less than 1 <span class=\"f ps43\"> </span></span></div><div class=\"ps7476 ss148\"><span class=\"f charStyle-281247bf ps10352\">year</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7518 ss742\"><div><div class=\"ps7475 ss148\"><span class=\"f charStyle-281247bf ps10354\">Between 1 <span class=\"f ps43\"> </span></span></div><div class=\"ps7476 ss148\"><span class=\"f charStyle-281247bf ps10355\">and 2 years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10358 ss742\"><div><div class=\"ps7475 ss148\"><span class=\"f charStyle-281247bf ps10356\">After 2 <span class=\"f ps43\"> </span></span></div><div class=\"ps7476 ss148\"><span class=\"f charStyle-281247bf ps10357\">years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6040 ss742\"><div><div class=\"ps7455 ss148\"><span class=\"f charStyle-281247bf ps10359\">Total<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5132 ss743\"><div><div class=\"ps2165 ss362\"><span class=\"f charStyle-b07b4361 ps42\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps10360 ss743\"><div><div class=\"ps2165 ss362\"><span class=\"f charStyle-1bac868e ps633\">Trade and other payables<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10362 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10361\">98,208</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10364 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10363\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10365 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10363\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10366 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10361\">98,208</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps10367 ss743\"><div><div class=\"ps2165 ss362\"><span class=\"f charStyle-1bac868e ps633\">Payables to related parties<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10369 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10368\">272</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10370 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10363\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10371 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10363\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10372 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10368\">272</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps9210 ss743\"><div><div class=\"ps2165 ss362\"><span class=\"f charStyle-1bac868e ps633\">Lease liabilities<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10374 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10373\">1,851</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10375 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10373\">2,819</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10376 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10373\">8,868</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10377 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10361\">13,538</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps2293 ss743\"><div><div class=\"ps2165 ss362\"><span class=\"f charStyle-1bac868e ps633\">Debt to credit institutions<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10379 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10378\">194,548</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10380 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10378\">247,706</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10382 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:12.37pt\"></span></span><span class=\"ps10381\">1,607,212</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10383 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:12.37pt\"></span></span><span class=\"ps10381\">2,049,466</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps9474 ss743\"><div><div class=\"ps2165 ss362\"><span class=\"f charStyle-1bac868e ps633\">Derivatives<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10384 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10373\">3,062</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10385 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10373\">1,884</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10386 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10373\">8,770</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10387 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10361\">13,716</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10389 ss464\"><div><div class=\"ps744 ss148\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:16.77pt\"></span></span><span class=\"ps10388\">297,941</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10390 ss464\"><div><div class=\"ps744 ss148\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:16.77pt\"></span></span><span class=\"ps10388\">252,409</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10391 ss464\"><div><div class=\"ps744 ss148\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:9.17pt\"></span></span><span class=\"ps9454\">1,624,850</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8639 ss464\"><div><div class=\"ps744 ss148\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:9.17pt\"></span></span><span class=\"ps9454\">2,175,200</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2007 ss743\"><div><div class=\"ps2165 ss362\"><span class=\"f charStyle-b07b4361 ps42\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps6347 ss743\"><div><div class=\"ps2165 ss362\"><span class=\"f charStyle-1bac868e ps633\">Trade and other payables<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10392 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10361\">43,595</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10393 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10363\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10394 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10363\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10395 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10361\">43,595</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps6352 ss743\"><div><div class=\"ps2165 ss362\"><span class=\"f charStyle-1bac868e ps633\">Payables to related parties<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10396 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10368\">223</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10397 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10363\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10398 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10363\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10399 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10368\">223</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps2211 ss743\"><div><div class=\"ps2165 ss362\"><span class=\"f charStyle-1bac868e ps633\">Lease liabilities<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10400 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10373\">1,274</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10401 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10373\">2,337</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10402 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10373\">7,360</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10403 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10361\">10,971</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps688 ss743\"><div><div class=\"ps2165 ss362\"><span class=\"f charStyle-1bac868e ps633\">Debt to credit institutions<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10404 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10361\">31,163</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10405 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10361\">54,339</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10406 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10378\">485,515</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10407 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10378\">571,017</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps2102 ss743\"><div><div class=\"ps2165 ss362\"><span class=\"f charStyle-1bac868e ps633\">Derivatives<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10408 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10368\">209</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10409 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10363\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10410 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10361\">16,205</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10411 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10361\">16,414</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10413 ss464\"><div><div class=\"ps744 ss148\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.94pt\"></span></span><span class=\"ps10412\">76,464</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10414 ss464\"><div><div class=\"ps744 ss148\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.94pt\"></span></span><span class=\"ps10412\">56,676</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10415 ss464\"><div><div class=\"ps744 ss148\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:16.77pt\"></span></span><span class=\"ps10388\">509,080</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10416 ss464\"><div><div class=\"ps744 ss148\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:16.77pt\"></span></span><span class=\"ps10388\">642,220</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps6831 ss743\"><div><div class=\"ps2165 ss362\"><span class=\"f charStyle-b07b4361 ps42\">2023<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps6012 ss743\"><div><div class=\"ps2165 ss362\"><span class=\"f charStyle-1bac868e ps633\">Trade and other payables<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10417 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10361\">32,636</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10418 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10363\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10419 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10363\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10420 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10361\">32,636</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps10421 ss743\"><div><div class=\"ps2165 ss362\"><span class=\"f charStyle-1bac868e ps633\">Payables to related parties<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10422 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10368\">162</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10423 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10363\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10424 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10363\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10425 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10368\">162</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps6168 ss743\"><div><div class=\"ps2165 ss362\"><span class=\"f charStyle-1bac868e ps633\">Lease liabilities<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10426 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10368\">601</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10427 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10368\">392</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10428 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10363\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10429 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10368\">993</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps9942 ss743\"><div><div class=\"ps2165 ss362\"><span class=\"f charStyle-1bac868e ps633\">Debt to credit institutions<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10430 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10368\">799</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10431 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10363\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10432 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10378\">204,773</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10433 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10378\">205,572</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10434 ss743\"><div><div class=\"ps2165 ss362\"><span class=\"f charStyle-1bac868e ps633\">Derivatives<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10435 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10373\">4,004</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10436 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10373\">5,683</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10437 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10361\">12,274</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10438 ss336\"><div><div class=\"ps2165 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10361\">21,961</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10439 ss464\"><div><div class=\"ps744 ss148\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:21.94pt\"></span></span><span class=\"ps10412\">38,202</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10440 ss464\"><div><div class=\"ps744 ss148\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:27.11pt\"></span></span><span class=\"ps4594\">6,075</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10441 ss464\"><div><div class=\"ps744 ss148\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:16.77pt\"></span></span><span class=\"ps10388\">217,047</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10442 ss464\"><div><div class=\"ps744 ss148\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:16.77pt\"></span></span><span class=\"ps10388\">261,324</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7019 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-644c6314 ps1008\">Change in debts to credit institutions during the year</span></div><div class=\"ps10466 ss0\"><div class=\"ss177 ws0 ps1056\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:239.25pt\"></td><td style=\"padding:0;width:59.25pt\"></td><td style=\"padding:0;width:59.25pt\"></td><td style=\"padding:0;width:59.25pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss744\"><div><div class=\"ps7604 ss600\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7518 ss745\"><div><div class=\"ps4431 ss148\"><span class=\"f charStyle-281247bf ps6077\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10358 ss745\"><div><div class=\"ps4431 ss148\"><span class=\"f charStyle-054ead99 ps6077\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6040 ss745\"><div><div class=\"ps4431 ss148\"><span class=\"f charStyle-054ead99 ps6077\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps442 ss744\"><div><div class=\"ps438 ss600\"><span class=\"f charStyle-1bac868e ps633\">Debt to credit institutions at 1 January<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10446 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10445\">(571,017)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10447 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10445\">(205,572)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7717 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10445\">(115,002)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps463 ss744\"><div><div class=\"ps438 ss600\"><span class=\"f charStyle-1bac868e ps633\">Loans repayments<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10448 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10378\">279,281</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10449 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10361\">10,630</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7720 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10378\">115,000</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5507 ss744\"><div><div class=\"ps438 ss600\"><span class=\"f charStyle-1bac868e ps633\">Proceeds from borrowing<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10451 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:6.95pt\"></span></span><span class=\"ps10450\">(1,337,178)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10452 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10445\">(385,234)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7724 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10445\">(211,934)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5516 ss744\"><div><div class=\"ps438 ss600\"><span class=\"f charStyle-1bac868e ps633\">New loan fees<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10453 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10361\">25,193</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10454 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10361\">11,100</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7726 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10373\">8,262</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5521 ss744\"><div><div class=\"ps438 ss600\"><span class=\"f charStyle-1bac868e ps633\">Non-cash movements<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10456 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10455\">(7,033)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10457 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10455\">(1,941)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7729 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10363\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5526 ss744\"><div><div class=\"ps438 ss600\"><span class=\"f charStyle-1bac868e ps633\">Write-off of loan fees<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10458 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10363\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10459 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10363\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10460 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10455\">(1,898)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps62 ss744\"><div><div class=\"ps438 ss600\"><span class=\"f charStyle-b07b4361 ps42\">Debt to credit institutions at 31 December 2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10462 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:2.53pt\"></span></span><span class=\"ps10461\">(1,610,754)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10464 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:10.13pt\"></span></span><span class=\"ps10463\">(571,017)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10465 ss745\"><div><div class=\"ps438 ss148\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:10.13pt\"></span></span><span class=\"ps10463\">(205,572)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Capital management<span id=\"i025d8568241546d6b01fee9b47d8e40f\"></span></span></div><div class=\"ps372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Company\u2019s objectives when managing capital are to ensure the </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Company\u2019s ability to continue as a going concern and to maintain an </span></div><div class=\"ps400 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">optimal capital structure.</span></div><div class=\"ps375 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In order to achieve this overall objective, the Company\u2019s capital </span></div><div class=\"ps376 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">management aims, among other things, to ensure compliance wth </span></div><div class=\"ps377 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the financial covenants attached to the interest-bearing loans and </span></div><div class=\"ps378 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">borrowings that define capital structure requirements. A breach of </span></div><div class=\"ps379 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the financial covenants would permit the bank to immediately call </span></div><div class=\"ps401 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">loans and borrowings. There have been no breaches of the financial </span></div><div class=\"ps402 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">covenants of any interest-bearing loans and borrowing in the current </span></div><div class=\"ps10479 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">period.</span></div><div class=\"ps383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In order to maintain or adjust the capital structure in the future, the </span></div><div class=\"ps384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Group may adjust dividend payments to shareholders, issue new </span></div><div class=\"ps403 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">shares and/or dispose of assets to reduce debt. Pursuant to the </span></div><div class=\"ps429 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Green Corporate Facility, the Company is not permitted to pay any </span></div><div class=\"ps430 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">dividends or other distributions without the prior written consent of </span></div><div class=\"ps431 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">DNB Bank ASA.</span></div><div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps882\">Fair value measurement<span id=\"ide79311c8cde4f88ab294fa6177f27b8\"></span></span></div><div class=\"ps372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">The Group measures derivatives at fair value at each balance sheet </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">date. Fair value is the price that would be received to sell an asset or </span></div><div class=\"ps400 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">paid to transfer a liability in an orderly transaction between market </span></div><div class=\"ps7422 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">participants at the balance sheet date. </span></div><div class=\"ps376 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">The principal, or in its absence the most advantageous market must </span></div><div class=\"ps377 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">be accessible by the Group. The fair value of an asset or liability is </span></div><div class=\"ps378 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">measured using the assumptions that market participants would use </span></div><div class=\"ps379 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">when pricing the asset or liability, assuming that market participants </span></div><div class=\"ps401 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">act in their own economic best interest.</span></div><div class=\"ps381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">In measuring the fair value of unlisted derivative financial instruments </span></div><div class=\"ps382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">and other financial instruments for which there is no active market, </span></div><div class=\"ps383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">fair value is determined using generally accepted valuation </span></div><div class=\"ps384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">techniques. Market-based parameters such as market-based yield </span></div><div class=\"ps403 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">curves and forward exchange rate are used for the valuation.</span></div><div class=\"ps386 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">The Group uses valuation techniques that are appropriate in the </span></div><div class=\"ps404 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">circumstances and for which sufficient data is available to measure </span></div><div class=\"ps405 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">fair value, maximising the use of relevant observable inputs and </span></div><div class=\"ps406 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">minimising the use of unobservable inputs.</span></div><div class=\"ps419 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Financial instruments for which fair value is measured or disclosed in </span></div><div class=\"ps420 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">the financial statements are categorised within the fair value </span></div><div class=\"ps421 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">hierarchy, as described below:</span></div><div class=\"ps5455 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Level 1: The fair value of financial instruments traded in active markets </span></div><div class=\"ps5456 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">(such as publicly traded derivatives, and equity securities) is based on </span></div><div class=\"ps5457 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">quoted market prices at the end of the reporting period. The quoted </span></div><div class=\"ps425 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">market price used for financial assets held by the Group is the current </span></div><div class=\"ps426 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">bid price. These instruments are included in level 1. </span></div><div class=\"ps7056 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Level 2: The fair value of financial instruments that are not traded in </span></div><div class=\"ps7057 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">an active market (e.g. over-the counter derivatives) is determined </span></div><div class=\"ps7058 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">using valuation techniques that maximise the use of observable </span></div><div class=\"ps7059 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">market data and rely as little as possible on entity-specific estimates. </span></div><div class=\"ps5461 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">The valuation techniques applied are primarily based on marked-</span></div><div class=\"ps5462 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">based inputs of the instruments. If all significant inputs required to </span></div><div class=\"ps5463 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">measure the fair value of an instrument are observable, the </span></div><div class=\"ps5464 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">instrument is included in Level 2.</span></div><div class=\"ps10480 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Level 3: If one or more of the significant inputs is not observable </span></div><div class=\"ps10481 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">market data, the instrument is included in Level 3.</span></div><div class=\"ps10482 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">The table below shows the fair value measurement of the Group\u2019s </span></div><div class=\"ps10483 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">assets and liabilities:</span></div><div class=\"ps7498 ss0\"><div class=\"ss194 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:191.25pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss746\"><div><div class=\"ps7604 ss701\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9551 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-281247bf ps3727\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9552 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-054ead99 ps3727\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5299 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-054ead99 ps3727\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps442 ss746\"><div><div class=\"ps4431 ss701\"><span class=\"f charStyle-b07b4361 ps42\">Derivative assets measured at fair value<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"border-top:1pt solid #ecedef;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps463 ss746\"><div><div class=\"ps4431 ss701\"><span class=\"f charStyle-1bac868e ps633\">Interest from IRS recycled through OCI<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10486 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10487 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">228</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10488 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5507 ss746\"><div><div class=\"ps4431 ss701\"><span class=\"f charStyle-1bac868e ps633\">Interest rate swaps<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10489 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7271\">2,171</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10490 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7271\">1,287</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10491 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">338</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5516 ss746\"><div><div class=\"ps4431 ss701\"><span class=\"f charStyle-1bac868e ps633\">FX forward contracts<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10492 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">511</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10493 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7271\">6,849</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10494 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5521 ss746\"><div><div class=\"ps4431 ss701\"><span class=\"f charStyle-1bac868e ps633\">FX option collars<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10495 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10496 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7271\">4,764</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10497 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5526 ss746\"><div><div class=\"ps4431 ss701\"><span class=\"f charStyle-1bac868e ps633\">Time value of FX option collars through OCI<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10498 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10499 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7271\">5,340</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10500 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps62 ss746\"><div><div class=\"ps4431 ss701\"><span class=\"f charStyle-b07b4361 ps42\">Total derivative assets<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10501 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:42.86pt\"></span></span><span class=\"ps6081\">2,682</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10502 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7284\">18,468</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10503 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.46pt\"></span></span><span class=\"ps9576\">338</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5160 ss746\"><div><div class=\"ps4431 ss701\"><span class=\"f charStyle-b07b4361 ps42\">Derivative liabilities measured at fair value<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5534 ss746\"><div><div class=\"ps4431 ss701\"><span class=\"f charStyle-1bac868e ps633\">Interest rate swap<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10504 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7253\">10,499</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10505 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7253\">16,231</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10506 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7253\">11,789</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5539 ss746\"><div><div class=\"ps4431 ss701\"><span class=\"f charStyle-1bac868e ps633\">FX forward contracts<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10507 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10508 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10509 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7271\">5,338</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5540 ss746\"><div><div class=\"ps4431 ss701\"><span class=\"f charStyle-1bac868e ps633\">Interest recycled through OCI<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10510 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">525</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10511 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7263\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10512 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">810</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5546 ss746\"><div><div class=\"ps4431 ss701\"><span class=\"f charStyle-1bac868e ps633\">Time value of FX option collars through OCI<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10513 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">576</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10514 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">209</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10515 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7271\">3,621</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps4009 ss746\"><div><div class=\"ps4431 ss701\"><span class=\"f charStyle-1bac868e ps633\">Derivatives ineffective hedges<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10516 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7271\">2,116</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10517 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:50.85pt\"></span></span><span class=\"ps9567\">(26)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10518 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9555\">403</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5553 ss746\"><div><div class=\"ps4431 ss701\"><span class=\"f charStyle-b07b4361 ps42\">Total derivative liabilities<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10519 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7284\">13,716</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10520 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7284\">16,414</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10521 ss302\"><div><div class=\"ps4431 ss298\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7284\">21,961</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7019 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">As of </span><span class=\"f charStyle-c1b8f9f6 ps9637\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps9638\">, the fair value of the derivative assets amounted to </span><span class=\"f charStyle-c1b8f9f6 ps10523\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10524\"> </span><span class=\"f charStyle-c1b8f9f6 ps10525\">2,682 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10526\"> (</span><span class=\"f charStyle-c1b8f9f6 ps10527\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10528\">: </span><span class=\"f charStyle-c1b8f9f6 ps10529\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10530\"> </span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">18,468 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10531\">; </span><span class=\"f charStyle-c1b8f9f6 ps10532\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10533\">: EUR </span><span class=\"f charStyle-c1b8f9f6 ps10534\">338 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10535\">) and derivative liabilities amounted to </span><span class=\"f charStyle-c1b8f9f6 ps10536\">13,716 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10537\"> (</span><span class=\"f charStyle-c1b8f9f6 ps10538\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10539\">: </span><span class=\"f charStyle-c1b8f9f6 ps10540\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10541\"> </span></div><div class=\"ps7146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">16,414 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10542\">; </span><span class=\"f charStyle-c1b8f9f6 ps10543\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10544\">: </span><span class=\"f charStyle-c1b8f9f6 ps10545\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10546\"> </span><span class=\"f charStyle-c1b8f9f6 ps10547\">21,961 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10548\">). The variation primarily reflects the execution of certain </span></div><div class=\"ps7149 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">financial instruments, together with changes in interest rate expectations in 2025 compared to 2024. These </span></div><div class=\"ps7564 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">expectations were driven by more persistent inflation and continued economic resilience, resulting in higher </span></div><div class=\"ps7565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">interest rates and a stronger USD.</span></div><div class=\"ps7103 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">As of </span><span class=\"f charStyle-c1b8f9f6 ps9637\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps9638\">, derivatives measured at fair value through profit or loss amounted to a gain of </span></div><div class=\"ps7104 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9065\"> </span><span class=\"f charStyle-c1b8f9f6 ps9066\">2,116 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10549\"> gain (</span><span class=\"f charStyle-c1b8f9f6 ps10550\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10551\">: </span><span class=\"f charStyle-c1b8f9f6 ps10552\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10553\"> </span><span class=\"f charStyle-c1b8f9f6 ps10554\">26 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10555\"> loss; </span><span class=\"f charStyle-c1b8f9f6 ps10556\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10557\">: </span><span class=\"f charStyle-c1b8f9f6 ps10558\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10559\"> </span><span class=\"f charStyle-c1b8f9f6 ps10560\">403 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10561\"> gain). </span></div>The fair value hierarchy for the above derivative financial instruments is Level 2.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-586": {
   "value": "<div class=\"ps10163 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Financial risk factors<span id=\"i92fef17d2ba64690b5da89bc24666508\"></span></span></div><div class=\"ps10164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group\u2019s activities expose it to market risk, including currency risk and interest rate risk, as well as credit </span></div><div class=\"ps10165 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">risk and liquidity risk.</span></div><div class=\"ps6996 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The financial risk management of the Group is performed by the Management of Cadeler and overseen by </span></div><div class=\"ps6997 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the Board of Directors and Audit Committee. The fair value of the Group's financial assets and liabilities as of </span></div><div class=\"ps3185 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps8018\"> does not deviate materially from the carrying amounts as of </span><span class=\"f charStyle-c1b8f9f6 ps10166\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10167\">.</span></div><div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Credit risk<span id=\"if679800039c74b1ea6ede098b4004e4b\"></span></span></div><div class=\"ps8664 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Risk management<span id=\"ic761a30e8a4046648de8eb72c1862126\"></span></span></div><div class=\"ps8665 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in </span></div><div class=\"ps8666 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">financial loss to the Group. The Group adopts the following policies to mitigate credit risk.</span></div><div class=\"ps10259 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">For banks and financial institutions, the Group mitigates its credit risks by transacting only with </span></div><div class=\"ps10260 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">counterparties rated \u201cA\u201d or above by independent rating agencies.</span></div><div class=\"ps3353 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group adopts a policy of dealing only with customers with an appropriate credit history and obtaining </span></div><div class=\"ps3354 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">sufficient security where appropriate, to mitigate credit risk. The Group applies stringent procedures for </span></div><div class=\"ps3355 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">extending credit terms to customers and for the ongoing monitoring of credit risk.</span></div><div class=\"ps4552 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">These credit terms are normally contractual, and credit policies clearly define the guidelines for extending </span></div><div class=\"ps3357 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">credit to customers, including monitoring processes and reference to relevant industry practices. This </span></div><div class=\"ps9619 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">includes the assessment and evaluation of customers\u2019 creditworthiness and periodic reviews of their </span></div><div class=\"ps9620 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">financial status to determine the credit limits. Customers are also assessed based on their historical </span></div><div class=\"ps10261 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">payment behaviour. Where necessary, customers may be required to provide security or advance payments </span></div><div class=\"ps10262 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">before services are rendered.</span></div><div class=\"ps10263 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Related party credit risk is managed by the Executive Management of Cadeler and overseen by the Board </span></div><div class=\"ps10264 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">of Directors.</span></div><div class=\"ps4562 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The maximum exposure to credit risk is the carrying amount of trade receivables and other receivables, </span></div><div class=\"ps4563 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">receivables from group entities and cash and bank balances presented in the statement of financial </span></div><div class=\"ps4565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">position.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-585": {
   "value": "<div class=\"ps10163 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Financial risk factors<span id=\"i92fef17d2ba64690b5da89bc24666508\"></span></span></div><div class=\"ps10164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group\u2019s activities expose it to market risk, including currency risk and interest rate risk, as well as credit </span></div><div class=\"ps10165 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">risk and liquidity risk.</span></div><div class=\"ps6996 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The financial risk management of the Group is performed by the Management of Cadeler and overseen by </span></div><div class=\"ps6997 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the Board of Directors and Audit Committee. The fair value of the Group's financial assets and liabilities as of </span></div><div class=\"ps3185 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps8018\"> does not deviate materially from the carrying amounts as of </span><span class=\"f charStyle-c1b8f9f6 ps10166\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10167\">.</span></div><div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Liquidity risk<span id=\"idfe3fde434fa473fb4f013dfa8994309\"></span></span></div><div class=\"ps372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group manages liquidity risk by maintaining sufficient cash and access to funding through committed </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">credit facilities to enabling it to meet its operational requirements and instalments payments for the </span></div><div class=\"ps400 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">contracted newbuild vessels. </span></div><div class=\"ps375 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The management of the Cadeler Group anticipates seeking additional debt financing in connection with </span></div><div class=\"ps376 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">milestone payments related to the delivery of the third A-class newbuild vessel. For further details, please </span></div><span class=\"f charStyle-c1b8f9f6 ps186\">refer to </span><span class=\"f charStyle-c1b8f9f6 ps10280\">Note 25,</span><span class=\"f charStyle-c1b8f9f6 ps10281\"> which provides a detailed disclosure of the Group\u2019s existing credit</span> facilities.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-587": {
   "value": "<div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-1819d385 ps186\">Quantitative and qualitative disclosures about market risk<span id=\"iea4977ea99a24a699f8a60be68581ddb\"></span></span></div><div class=\"ps10168 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Currency risk<span id=\"i172af3f680244f5d8fd11575933bbbc8\"></span></span></div><div class=\"ps10169 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group\u2019s business is exposed to the Danish Kroner (\u201cDKK\u201d), Norwegian Kroner (\u201cNOK\u201d), British Pound </span></div><div class=\"ps10170 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Sterling (\u201cGBP\u201d), United States Dollar (\u201cUSD\u201d), New Taiwan Dollar (\u201cTWD\u201d), and Japanese Yen (\u201cJPY\u201d), as </span></div><div class=\"ps10171 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">certain operating expenses are denominated in these currencies. The Company seeks to use financial </span></div><div class=\"ps7039 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">instruments to reduce currency risk when there is significant exposure to income or liabilities denominated </span></div><div class=\"ps7040 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">in currencies other than EUR or DKK, and where a cost-effective solution is available.</span></div><div class=\"ps10174 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-296ed202 ps186\">The functional currency of Cadeler A/S is </span><span class=\"f charStyle-296ed202 ps10172\">EUR</span><span class=\"f charStyle-296ed202 ps10173\">, while the largest currency exposure of the Group relates to </span></div><div class=\"ps10178 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-296ed202 ps186\">future instalments for newbuild vessels, denominated in USD, amounting to </span><span class=\"f charStyle-296ed202 ps10175\">USD </span><span class=\"f charStyle-296ed202 ps10176\">496\u00a0million</span><span class=\"f charStyle-296ed202 ps10177\">. Further details </span></div><div class=\"ps10179 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-296ed202 ps186\">regarding the instruments currently used to mitigate this currency risk are provided in Note 24. Management </span></div><div class=\"ps10180 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-296ed202 ps186\">and the Board of Directors evaluate the potential costs and benefits of currency exposure on an ongoing basis.</span></div><div class=\"ps10184 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">T</span><span class=\"f charStyle-c1b8f9f6 ps8951\">he Group holds cash balances in USD. If the USD:</span><span class=\"f charStyle-c1b8f9f6 ps1124\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10181\"> exchange rate were to deteriorate by </span><span class=\"f charStyle-c1b8f9f6 ps10182\">10%</span><span class=\"f charStyle-c1b8f9f6 ps10183\"> the result </span></div><div class=\"ps10200 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">before tax would have decreased by </span><span class=\"f charStyle-c1b8f9f6 ps10185\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10186\"> </span><span class=\"f charStyle-c1b8f9f6 ps10187\">1.6</span><span class=\"f charStyle-c1b8f9f6 ps10188\"> million (</span><span class=\"f charStyle-c1b8f9f6 ps10189\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7337\">: </span><span class=\"f charStyle-c1b8f9f6 ps10190\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10191\"> </span><span class=\"f charStyle-c1b8f9f6 ps10192\">1.8\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10193\">; </span><span class=\"f charStyle-c1b8f9f6 ps10194\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10195\">: </span><span class=\"f charStyle-c1b8f9f6 ps10196\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10197\"> </span><span class=\"f charStyle-c1b8f9f6 ps10198\">4.6\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10199\">), based on </span></div><div class=\"ps3199 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">USD cash holdings as of </span><span class=\"f charStyle-c1b8f9f6 ps10201\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10202\">.</span></div><div class=\"ps3272 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Group holds cash balances in GBP. If the GBP:</span><span class=\"f charStyle-c1b8f9f6 ps10203\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10204\"> exchange rate were to deteriorate by </span><span class=\"f charStyle-c1b8f9f6 ps10205\">10%</span><span class=\"f charStyle-c1b8f9f6 ps10206\"> the result </span></div><div class=\"ps3273 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">before tax would have decreased by </span><span class=\"f charStyle-c1b8f9f6 ps10185\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10186\"> </span><span class=\"f charStyle-c1b8f9f6 ps10187\">0.4</span><span class=\"f charStyle-c1b8f9f6 ps10207\"> </span><span class=\"f charStyle-c1b8f9f6 ps10208\">million (</span><span class=\"f charStyle-c1b8f9f6 ps10209\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10210\">: </span><span class=\"f charStyle-c1b8f9f6 ps10211\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10212\"> </span><span class=\"f charStyle-c1b8f9f6 ps10213\">0.7\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10214\">) based on GBP cash holdings as </span></div><div class=\"ps3274 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">of </span><span class=\"f charStyle-c1b8f9f6 ps10215\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10216\">.</span></div><div class=\"ps2688 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-616c3f6a ps186\">As the DKK is pegged to the </span><span class=\"f charStyle-616c3f6a ps10217\">EUR</span><span class=\"f charStyle-616c3f6a ps10218\">, no material currency risk has been identified in relation to the DKK, despite the </span></div><div class=\"ps2689 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-616c3f6a ps186\">Cadeler Group incurring costs denominated in DKK. As of </span><span class=\"f charStyle-616c3f6a ps10219\">31\u00a0December 2025</span><span class=\"f charStyle-616c3f6a ps10220\">, the Cadeler Group did not hold any </span></div><div class=\"ps2690 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-616c3f6a ps186\">material cash balances denominated in NOK, JPY, or TWD.</span></div><div class=\"ps10221 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Currency risk associated with other financial instruments denominated in foriegn currencies is limited and </span></div><div class=\"ps10222 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">therefore excluded from this analysis. </span></div><div class=\"ps10163 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Interest rate risk<span id=\"i4a97714972f94b6d96c9ce5a4f4eb971\"></span></span></div><div class=\"ps10164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The Group\u2019s current exposure to the risk of changes in market interest rates relates primarily to the Green </span></div><div class=\"ps10165 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Corporate Facility, the P-class Facility, M-class Facility and Holdco Facility. Further details regarding the </span></div><div class=\"ps7738 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">hedging instruments used to mitigate this risk are provided in Note 24.</span></div><div class=\"ps6997 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The Green Corporate Facility and Holdco Facility are based on a EURIBOR 3M interest rate plus a margin. </span></div><div class=\"ps3185 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The EURIBOR interest rate has a floor of </span><span class=\"f charStyle-c1b8f9f6 ps10223\">0</span><span class=\"f charStyle-c1b8f9f6 ps10224\">bps and was </span><span class=\"f charStyle-c1b8f9f6 ps10225\">2.1%</span><span class=\"f charStyle-c1b8f9f6 ps10226\">, </span><span class=\"f charStyle-c1b8f9f6 ps10227\">2.9%</span><span class=\"f charStyle-c1b8f9f6 ps10228\"> and </span><span class=\"f charStyle-c1b8f9f6 ps10229\">3.9%</span><span class=\"f charStyle-c1b8f9f6 ps10230\"> at the end of </span><span class=\"f charStyle-c1b8f9f6 ps10231\">2025</span><span class=\"f charStyle-c1b8f9f6 ps10232\">, </span><span class=\"f charStyle-c1b8f9f6 ps10233\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10234\"> and </span></div><div class=\"ps6998 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10235\">, respectively. </span></div><div class=\"ps7740 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">If the EURIBOR interest rate increased </span><span class=\"f charStyle-c1b8f9f6 ps10236\">100bps</span><span class=\"f charStyle-c1b8f9f6 ps10237\">, and the loans had been provided throughout the entire </span><span class=\"f charStyle-c1b8f9f6 ps10238\">2025</span><span class=\"f charStyle-c1b8f9f6 ps10239\"> </span></div><div class=\"ps7741 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">reporting period, interest costs would have increased by </span><span class=\"f charStyle-c1b8f9f6 ps10240\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10241\"> </span><span class=\"f charStyle-c1b8f9f6 ps10242\">16.9\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10243\"> (</span><span class=\"f charStyle-c1b8f9f6 ps10244\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10245\">: </span><span class=\"f charStyle-c1b8f9f6 ps10246\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10247\"> </span><span class=\"f charStyle-c1b8f9f6 ps10248\">5.9\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10249\">; </span><span class=\"f charStyle-c1b8f9f6 ps10250\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10251\">: </span><span class=\"f charStyle-c1b8f9f6 ps10252\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10253\"> </span></div><div class=\"ps10255 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">2.1\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10254\">). Such an increase could potentially qualify as capitalisable borrowing costs, thereby mitigating </span></div><div class=\"ps7002 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">the impact on the result before tax. Conversely, if the interest rates were to decrease, the result before tax </span></div><div class=\"ps7003 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">would not be materially affected due to the capitalisation of borrowing costs.</span></div><div class=\"ps10256 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Management and the Board of Directors evaluate the potential costs and benefits of fixed interest rate </span></div><div class=\"ps10258 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">borrowing</span><span class=\"f charStyle-c1b8f9f6 ps10257\">s on an ongoing basis.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-588": {
   "value": "<div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Capital management<span id=\"i025d8568241546d6b01fee9b47d8e40f\"></span></span></div><div class=\"ps372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The Company\u2019s objectives when managing capital are to ensure the </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Company\u2019s ability to continue as a going concern and to maintain an </span></div><div class=\"ps400 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">optimal capital structure.</span></div><div class=\"ps375 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In order to achieve this overall objective, the Company\u2019s capital </span></div><div class=\"ps376 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">management aims, among other things, to ensure compliance wth </span></div><div class=\"ps377 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the financial covenants attached to the interest-bearing loans and </span></div><div class=\"ps378 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">borrowings that define capital structure requirements. A breach of </span></div><div class=\"ps379 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the financial covenants would permit the bank to immediately call </span></div><div class=\"ps401 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">loans and borrowings. There have been no breaches of the financial </span></div><div class=\"ps402 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">covenants of any interest-bearing loans and borrowing in the current </span></div><div class=\"ps10479 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">period.</span></div><div class=\"ps383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">In order to maintain or adjust the capital structure in the future, the </span></div><div class=\"ps384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Group may adjust dividend payments to shareholders, issue new </span></div><div class=\"ps403 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">shares and/or dispose of assets to reduce debt. Pursuant to the </span></div><div class=\"ps429 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Green Corporate Facility, the Company is not permitted to pay any </span></div><div class=\"ps430 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">dividends or other distributions without the prior written consent of </span></div><div class=\"ps431 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">DNB Bank ASA.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDividendsExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-589": {
   "value": "<div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps882\">Fair value measurement<span id=\"ide79311c8cde4f88ab294fa6177f27b8\"></span></span></div><div class=\"ps372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">The Group measures derivatives at fair value at each balance sheet </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">date. Fair value is the price that would be received to sell an asset or </span></div><div class=\"ps400 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">paid to transfer a liability in an orderly transaction between market </span></div><div class=\"ps7422 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">participants at the balance sheet date. </span></div><div class=\"ps376 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">The principal, or in its absence the most advantageous market must </span></div><div class=\"ps377 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">be accessible by the Group. The fair value of an asset or liability is </span></div><div class=\"ps378 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">measured using the assumptions that market participants would use </span></div><div class=\"ps379 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">when pricing the asset or liability, assuming that market participants </span></div><div class=\"ps401 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">act in their own economic best interest.</span></div><div class=\"ps381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">In measuring the fair value of unlisted derivative financial instruments </span></div><div class=\"ps382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">and other financial instruments for which there is no active market, </span></div><div class=\"ps383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">fair value is determined using generally accepted valuation </span></div><div class=\"ps384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">techniques. Market-based parameters such as market-based yield </span></div><div class=\"ps403 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">curves and forward exchange rate are used for the valuation.</span></div><div class=\"ps386 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">The Group uses valuation techniques that are appropriate in the </span></div><div class=\"ps404 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">circumstances and for which sufficient data is available to measure </span></div><div class=\"ps405 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">fair value, maximising the use of relevant observable inputs and </span></div><div class=\"ps406 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">minimising the use of unobservable inputs.</span></div><div class=\"ps419 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Financial instruments for which fair value is measured or disclosed in </span></div><div class=\"ps420 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">the financial statements are categorised within the fair value </span></div><div class=\"ps421 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">hierarchy, as described below:</span></div><div class=\"ps5455 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Level 1: The fair value of financial instruments traded in active markets </span></div><div class=\"ps5456 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">(such as publicly traded derivatives, and equity securities) is based on </span></div><div class=\"ps5457 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">quoted market prices at the end of the reporting period. The quoted </span></div><div class=\"ps425 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">market price used for financial assets held by the Group is the current </span></div><div class=\"ps426 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">bid price. These instruments are included in level 1. </span></div><div class=\"ps7056 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Level 2: The fair value of financial instruments that are not traded in </span></div><div class=\"ps7057 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">an active market (e.g. over-the counter derivatives) is determined </span></div><div class=\"ps7058 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">using valuation techniques that maximise the use of observable </span></div><div class=\"ps7059 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">market data and rely as little as possible on entity-specific estimates. </span></div><div class=\"ps5461 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">The valuation techniques applied are primarily based on marked-</span></div><div class=\"ps5462 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">based inputs of the instruments. If all significant inputs required to </span></div><div class=\"ps5463 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">measure the fair value of an instrument are observable, the </span></div><div class=\"ps5464 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">instrument is included in Level 2.</span></div><div class=\"ps10480 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">Level 3: If one or more of the significant inputs is not observable </span></div><div class=\"ps10481 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">market data, the instrument is included in Level 3.</span></div><div class=\"ps10482 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">The table below shows the fair value measurement of the Group\u2019s </span></div><div class=\"ps10483 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps918\">assets and liabilities:</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-590": {
   "value": "<div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">Note 26</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps882\">Business Combination<span id=\"ifa48ab74a3d146f0a3a94e9becaf80b4\"></span></span></div><div class=\"ps6907 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">On 19 December 2023, the Group completed the acquisition of Eneti. </span></div><div class=\"ps7168 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">The fair value of the identified net assets acquired and goodwill </span></div><div class=\"ps7169 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps882\">recognised in the Eneti acquisition comprises as follows:</span></div><div class=\"ps11089 ss0\"><div class=\"ss795 ws0 ps7584\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:180pt\"></td><td style=\"padding:0;width:83.25pt\"></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss793\"><div><div class=\"ps8179 ss362\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10353 ss794\"><div><div class=\"ps5619 ss604\"><span class=\"f charStyle-281247bf ps11078\">19 December <span class=\"f ps43\"> </span></span></div><div class=\"ps5618 ss604\"><span class=\"f charStyle-281247bf ps11079\">2023</span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps1978 ss793\"><div><div class=\"ps2693 ss362\"><span class=\"f charStyle-1bac868e ps633\">Vessels including dry docks<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11080 ss794\"><div><div class=\"ps2693 ss604\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9461\">296,707</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps7522 ss793\"><div><div class=\"ps2693 ss362\"><span class=\"f charStyle-1bac868e ps633\">Vessel under construction<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps11081 ss794\"><div><div class=\"ps2693 ss604\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9461\">144,219</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps7526 ss793\"><div><div class=\"ps2693 ss362\"><span class=\"f charStyle-1bac868e ps633\">Other fixtures &amp; fittings<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps11082 ss794\"><div><div class=\"ps2693 ss604\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:59.67pt\"></span></span><span class=\"ps635\">598</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps2297 ss793\"><div><div class=\"ps2693 ss362\"><span class=\"f charStyle-1bac868e ps633\">Right-of-use assets<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps11083 ss794\"><div><div class=\"ps2693 ss604\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:52.87pt\"></span></span><span class=\"ps752\">1,033</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps495 ss793\"><div><div class=\"ps2693 ss362\"><span class=\"f charStyle-1bac868e ps633\">Trade and other receivables<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps11084 ss794\"><div><div class=\"ps2693 ss604\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.02pt\"></span></span><span class=\"ps9476\">29,408</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps1043 ss793\"><div><div class=\"ps2693 ss362\"><span class=\"f charStyle-1bac868e ps633\">Inventories<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps11085 ss794\"><div><div class=\"ps2693 ss604\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:59.67pt\"></span></span><span class=\"ps635\">147</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps66 ss793\"><div><div class=\"ps2693 ss362\"><span class=\"f charStyle-1bac868e ps633\">Prepayments<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps11086 ss794\"><div><div class=\"ps2693 ss604\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:52.87pt\"></span></span><span class=\"ps752\">3,821</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5702 ss793\"><div><div class=\"ps2693 ss362\"><span class=\"f charStyle-1bac868e ps633\">Cash and cash equivalents<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11087 ss794\"><div><div class=\"ps2693 ss604\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9461\">106,056</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5540 ss793\"><div><div class=\"ps2693 ss362\"><span class=\"f charStyle-b07b4361 ps42\">Total assets<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11088 ss794\"><div><div class=\"ps2693 ss604\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:40.77pt\"></span></span><span class=\"ps7385\">581,989</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps11104 ss0\"><div class=\"ss799 ws0 ps11103\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:180pt\"></td><td style=\"padding:0;width:88.5pt\"></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss743\"><div><div class=\"ps6190 ss362\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10353 ss797\"><div><div class=\"ps4278 ss796\"><span class=\"f charStyle-281247bf ps11092\">19 December 2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4283 ss793\"><div><div class=\"ps2693 ss362\"><span class=\"f charStyle-1bac868e ps633\">Provisions<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11094 ss798\"><div><div class=\"ps2693 ss796\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:58.12pt\"></span></span><span class=\"ps11093\">6,987</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5184 ss793\"><div><div class=\"ps2693 ss362\"><span class=\"f charStyle-1bac868e ps633\">Deferred tax liabilities<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps11096 ss798\"><div><div class=\"ps2693 ss796\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:53.27pt\"></span></span><span class=\"ps11095\">10,315</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5193 ss793\"><div><div class=\"ps2693 ss362\"><span class=\"f charStyle-1bac868e ps633\">Trade and other payables<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps11097 ss798\"><div><div class=\"ps2693 ss796\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:53.27pt\"></span></span><span class=\"ps11095\">40,271</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5200 ss793\"><div><div class=\"ps2693 ss362\"><span class=\"f charStyle-1bac868e ps633\">Lease liabilities<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps11098 ss798\"><div><div class=\"ps2693 ss796\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:58.12pt\"></span></span><span class=\"ps11093\">1,300</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5209 ss793\"><div><div class=\"ps2693 ss362\"><span class=\"f charStyle-1bac868e ps633\">Deferred charter hire income<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps11099 ss798\"><div><div class=\"ps2693 ss796\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:58.12pt\"></span></span><span class=\"ps11093\">1,937</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5677 ss793\"><div><div class=\"ps2693 ss362\"><span class=\"f charStyle-1bac868e ps633\">Current income tax liabilities<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11100 ss798\"><div><div class=\"ps2693 ss796\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:58.12pt\"></span></span><span class=\"ps11093\">1,217</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps6295 ss793\"><div><div class=\"ps2693 ss362\"><span class=\"f charStyle-b07b4361 ps42\">Total liabilities<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11102 ss798\"><div><div class=\"ps2693 ss796\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:51.19pt\"></span></span><span class=\"ps11101\">62,027</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7585 ss0\"><div class=\"ss799 ws0 ps11103\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:180pt\"></td><td style=\"padding:0;width:88.5pt\"></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss793\"><div><div class=\"ps2693 ss362\"><span class=\"f charStyle-b07b4361 ps42\">Total identifiable net assets at fair value<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10353 ss798\"><div><div class=\"ps2693 ss796\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.02pt\"></span></span><span class=\"ps11105\">519,962</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps1978 ss793\"><div><div class=\"ps2693 ss362\"><span class=\"f charStyle-1bac868e ps633\">Goodwill arising on acquisition<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11080 ss798\"><div><div class=\"ps2693 ss796\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:53.27pt\"></span></span><span class=\"ps11095\">16,919</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7522 ss793\"><div><div class=\"ps2693 ss362\"><span class=\"f charStyle-b07b4361 ps42\">Purchase price transferred<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11081 ss798\"><div><div class=\"ps2693 ss796\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:46.02pt\"></span></span><span class=\"ps11105\">536,881</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7526 ss793\"><div><div class=\"ps2693 ss362\"><span class=\"f charStyle-1bac868e ps633\">Cash and cash equivalents acquired<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11082 ss798\"><div><div class=\"ps2693 ss796\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.42pt\"></span></span><span class=\"ps11106\">106,056</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2297 ss793\"><div><div class=\"ps2693 ss362\"><span class=\"f charStyle-1bac868e ps633\">Consideration paid in shares<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11083 ss798\"><div><div class=\"ps2693 ss796\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:48.42pt\"></span></span><span class=\"ps11106\">441,228</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps495 ss793\"><div><div class=\"ps2693 ss362\"><span class=\"f charStyle-b07b4361 ps42\">Net cash purchase price<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11084 ss798\"><div><div class=\"ps2693 ss796\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:44.55pt\"></span></span><span class=\"ps11107\">(10,403)</span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBusinessCombinationsExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-591": {
   "value": "<div><div id=\"i60a9312555114c61b3ebee7078e135c5_2278\" style=\"position:absolute;top:42.52pt\"></div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 28</span></div><div class=\"ps6906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Commitments and Pledges<span id=\"i9559c362fa7445d2813ba504bfe1d578\"></span></span></div><div class=\"ps7781 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Lease commitments<span id=\"ic1943004030a4b58bd199d4476407e94\"></span></span></div><div class=\"ps7020 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">The future minimum lease payables under non-cancellable low value and short-term leases contracted for </span></div><div class=\"ps7146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">at the balance sheet date but not recognised as liabilities are as follows:</span></div><div class=\"ps11184 ss0\"><div class=\"ss177 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:147pt\"></td><td style=\"padding:0;width:90pt\"></td><td style=\"padding:0;width:90pt\"></td><td style=\"padding:0;width:90pt\"></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps40 ss805\"><div><div class=\"ps7199 ss671\"><span class=\"f charStyle-64a4cf84 ps42\">EUR'000<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8874 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-281247bf ps11171\">2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7200 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-054ead99 ps11171\">2024<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10630 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-054ead99 ps11171\">2023<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2567 ss805\"><div><div class=\"ps2564 ss671\"><span class=\"f charStyle-1bac868e ps633\">Not later than one year<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11173 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:54.77pt\"></span></span><span class=\"ps11172\">16,483</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11174 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:66.42pt\"></span></span><span class=\"ps7964\">117</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11176 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:59.62pt\"></span></span><span class=\"ps11175\">1,090</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps1984 ss805\"><div><div class=\"ps2564 ss671\"><span class=\"f charStyle-1bac868e ps633\">Between one and five years<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11177 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:66.42pt\"></span></span><span class=\"ps7964\">229</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7203 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:66.42pt\"></span></span><span class=\"ps7964\">219</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11178 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:59.62pt\"></span></span><span class=\"ps11175\">4,984</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11180 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-23b55a92\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:52.69pt\"></span></span><span class=\"ps11179\">16,712</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7206 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:65.46pt\"></span></span><span class=\"ps11181\">336</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11183 ss806\"><div><div class=\"ps2564 ss750\"><span class=\"f charStyle-b07b4361\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:57.86pt\"></span></span><span class=\"ps11182\">6,074</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps1004 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">As of 31 December 2025, the Company\u2019s lease commitments included the lease of third-party vessels </span></div><div class=\"ps3567 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">related to T&amp;I activities.</span></div><div class=\"ps3569 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">As of 31 December 2023, the Company\u2019s lease commitments included the tenure of the new headquarters. </span></div><div class=\"ps3570 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">These commitments were reflected on the balance sheet starting in Q1 2024 as 'Right-of-Use Assets' and </span></div><div class=\"ps3563 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">'Lease Liabilities' in accordance with IFRS 16. </span></div><div class=\"ps7168 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The Group has issued performance and payment guarantees through its banking partners in favour of </span></div><div class=\"ps7169 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">customers and suppliers in connection with offshore wind installation projects. At 31 December 2025, </span></div><div class=\"ps7171 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">outstanding guarantees totalled EUR </span><span class=\"f charStyle-c1b8f9f6 ps11186\">150\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps11187\">. The guarantees relate to the Group\u2019s contractual </span></div><div class=\"ps7172 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">performance and payment obligations. No provision has been recognised, as management assesses that an </span></div><div class=\"ps7173 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">outflow of resources is not probable. The Group would be required to reimburse the issuing bank should </span></div><div class=\"ps7174 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">any guarantee be called.</span></div><div class=\"ps11188 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">Pledge of Fixed Assets<span id=\"i11e388798bec455fa903297668fa64c6\"></span></span></div><div class=\"ps6923 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The Green Corporate Facility detailed in </span><span class=\"f charStyle-c1b8f9f6 ps11189\">Note 25</span><span class=\"f charStyle-c1b8f9f6 ps11190\"> is secured by, inter alia, a first priority mortgage over the </span></div><div class=\"ps6926 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Wind Orca, Wind Osprey, Wind Scylla and Wind Zaratan Vessels (</span><span class=\"f charStyle-c1b8f9f6 ps11191\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps11192\"> </span><span class=\"f charStyle-c1b8f9f6 ps11193\">603</span><span class=\"f charStyle-c1b8f9f6 ps11194\"> million</span><span class=\"f charStyle-c1b8f9f6 ps11195\"> carrying amount, see </span><span class=\"f charStyle-c1b8f9f6 ps11196\">Note </span></div><div class=\"ps2785 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">13</span><span class=\"f charStyle-c1b8f9f6 ps11197\">). In addition, the facility is secured by a first priority assignment of the earnings of the vessel-owning </span></div><div class=\"ps2786 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">entities, including certain change of control provisions which are similar to those included in the P-class </span></div><div class=\"ps2787 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Facility.</span></div><div class=\"ps7159 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The P-class Facility, detailed in </span><span class=\"f charStyle-c1b8f9f6 ps11198\">Note 25,</span><span class=\"f charStyle-c1b8f9f6 ps11199\"> is secured by a first priority mortgage over the P-class newbuild </span></div><div class=\"ps7160 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">vessels, first priority assignments of the insurances and earnings of the P-class newbuilds by Cadeler and the </span></div><div class=\"ps7162 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">two</span><span class=\"f charStyle-c1b8f9f6 ps11200\"> borrowers and contain customary financial and other covenants, including certain change of control </span></div><div class=\"ps2791 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">provisions. A change of control under the P-class Facility if any person or group of persons acting in concert </span></div><div class=\"ps2792 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">(other than Swire Pacific and the BW Group) legally and beneficially holds more than </span><span class=\"f charStyle-c1b8f9f6 ps11201\">25%</span><span class=\"f charStyle-c1b8f9f6 ps11202\"> of both the issued </span></div><div class=\"ps2793 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">and outstanding share capital and/or the issued and outstanding voting share capital of Cadeler A/S. In </span></div><div class=\"ps2794 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">addition, certain changes to the ownership structure further down in the Group will also trigger a change of </span></div><div class=\"ps2795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">control, including, among others, circumstances in which Wind Pace Ltd (formerly referred as to N1064 Ltd) </span></div><div class=\"ps2796 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">or Wind Peak Ltd (formerly referred as to N1063 Ltd) ceases to be a wholly owned (direct or indirect) </span></div><div class=\"ps2797 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">subsidiary of Cadeler.</span></div></div><div class=\"ps6992 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">Commitments on newbuilds vessels:<span id=\"i6dd288598457476eb437b2d3725905c4\"></span></span></div><div class=\"ps11243 ss0\"><div class=\"ss809 ws0 ps70\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:192pt\"></td><td style=\"padding:0;width:60pt\"></td><td style=\"padding:0;width:60pt\"></td><td style=\"padding:0;width:60pt\"></td><td style=\"padding:0;width:60pt\"></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps40 ss807\"><div><div class=\"ps4278 ss557\"><span class=\"f charStyle-b07b4361 ps42\">As of 31 December 2025<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps4283 ss808\"><div><div class=\"ps7199 ss557\"><span class=\"f charStyle-64a4cf84 ps42\">Millions<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11208 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-054ead99 ps11207\">P-Class<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11210 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-054ead99 ps11209\">M-Class<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11212 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-054ead99 ps11211\">A-Class<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11214 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-281247bf ps11213\">Total<span class=\"f ps43\"> </span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11114 ss808\"><div><div class=\"ps2564 ss557\"><span class=\"f charStyle-1bac868e ps633\">Contract amount in EUR<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11216 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">220</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11217 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10579\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11218 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">299</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11219 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">519</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7526 ss808\"><div><div class=\"ps2564 ss557\"><span class=\"f charStyle-1bac868e ps633\">Contract amount in USD<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11220 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">390</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11221 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">655</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11222 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">794</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11223 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10565\">1,839</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5953 ss808\"><div><div class=\"ps2564 ss557\"><span class=\"f charStyle-2b5af115 ps42\">Total Contract amount translated to EUR<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11224 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">573</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11225 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">600</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11226 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">981</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11227 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10565\">2,154</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"padding:0\"><div class=\"ps11228 ss808\"><div><div class=\"ps2564 ss557\"><span class=\"f charStyle-1bac868e ps633\">Commitment amount in EUR<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11229 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10579\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11230 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10579\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11232 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.27pt\"></span></span><span class=\"ps11231\">40</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps11233 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.27pt\"></span></span><span class=\"ps11231\">40</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11234 ss808\"><div><div class=\"ps2564 ss557\"><span class=\"f charStyle-1bac868e ps633\">Commitment amount in USD<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11235 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10579\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11236 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10579\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11237 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">496</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11238 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">496</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9008 ss808\"><div><div class=\"ps2564 ss557\"><span class=\"f charStyle-2b5af115 ps42\">Remaining commitment translated to EUR<span class=\"f ps43\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11239 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10579\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11240 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10579\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11241 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">462</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11242 ss309\"><div><div class=\"ps2564 ss288\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps42\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11215\">462</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps11245 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Maturity of total payments are disclosed in </span><span class=\"f charStyle-c1b8f9f6 ps11244\">Note 23.</span></div><div class=\"ps11246 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps186\">P-Class vessels <span id=\"i39739276062348009b57f75bf4f64d90\"></span></span></div><div class=\"ps11249 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Since 30 June 2021, the Company had a contract with COSCO to build </span><span class=\"f charStyle-c1b8f9f6 ps11247\">two</span><span class=\"f charStyle-c1b8f9f6 ps11248\"> new P-class WTIVs. On 14 August </span></div><div class=\"ps11251 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">2024, Wind Peak was delivered and the final instalments were paid upon delivery. </span><span class=\"f charStyle-c1b8f9f6 ps11250\">On 26 March 2025, Wind </span></div><div class=\"ps11252 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Pace was delivered with the final instalments also paid upon delivery.</span></div><div class=\"ps6992 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">A-class vessels<span id=\"i54bb13ecdc2d4428ae4897f8f64166da\"></span></span></div><div class=\"ps11257 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">On 9 May 2022 and 22 November 2022, the Company entered into contracts with COSCO to build a total of </span></div><div class=\"ps11258 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">two</span><span class=\"f charStyle-c1b8f9f6 ps11200\"> new A-class FIVs. In May 2024, the Company entered into an additional contract with COSCO to build </span></div><div class=\"ps11259 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">the third A-class FIV. On 29 September 2025, Wind Ally was delivered, with the final instalments paid upon </span></div><div class=\"ps11260 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">delivery.</span></div><div class=\"ps8867 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">The total contract value for the </span><span class=\"f charStyle-c1b8f9f6 ps11261\">three</span><span class=\"f charStyle-c1b8f9f6 ps11262\"> vessels are approximately </span><span class=\"f charStyle-c1b8f9f6 ps11263\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps11264\"> </span><span class=\"f charStyle-c1b8f9f6 ps11265\">1\u00a0billion</span><span class=\"f charStyle-c1b8f9f6 ps11266\">, of which approximately </span><span class=\"f charStyle-c1b8f9f6 ps11267\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps6903\"> </span></div><div class=\"ps11279 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">167\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps11268\"> was paid in 2022, </span><span class=\"f charStyle-c1b8f9f6 ps11269\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps11270\"> </span><span class=\"f charStyle-c1b8f9f6 ps11271\">94\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps11272\"> was paid in 2024 and </span><span class=\"f charStyle-c1b8f9f6 ps11273\">EUR</span><span class=\"f charStyle-58d8bcbe ps11274\"> </span><span class=\"f charStyle-c1b8f9f6 ps11275\">257\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps11276\"> was paid in </span><span class=\"f charStyle-c1b8f9f6 ps11277\">2025</span><span class=\"f charStyle-c1b8f9f6 ps11278\">. The </span></div><div class=\"ps11280 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">remaining amounts are due in 2026 and 2027 with expected deliveries in Q3 2026 and Q2 2027, </span></div><div class=\"ps11281 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">respectively.</span></div><div class=\"ps11288 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">Of the total contract value, USD </span><span class=\"f charStyle-c1b8f9f6 ps11282\">794 million</span><span class=\"f charStyle-c1b8f9f6 ps11283\"> is payable or has been paid in USD and </span><span class=\"f charStyle-c1b8f9f6 ps11284\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps11285\"> </span><span class=\"f charStyle-c1b8f9f6 ps11286\">299 million</span><span class=\"f charStyle-c1b8f9f6 ps11287\"> is </span></div><div class=\"ps11291 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">payable or has been paid in </span><span class=\"f charStyle-c1b8f9f6 ps11289\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps11290\">. </span></div><div class=\"ps11292 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1008\">M-Class vessels<span id=\"i68e4397ac40244a994a178878999535a\"></span></span></div><div class=\"ps11293 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">As a result of the business combination with Eneti, the Company had a contract with Hanwha for the </span></div><div class=\"ps11296 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">construction of </span><span class=\"f charStyle-c1b8f9f6 ps11294\">two</span><span class=\"f charStyle-c1b8f9f6 ps11295\"> next-generation offshore WTIVs. </span></div><div class=\"ps11298 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">On 31 January 2025, Wind Maker was delivered and the final instalments were paid upon delivery. </span><span class=\"f charStyle-c1b8f9f6 ps11297\">On 28 </span></div><div class=\"ps11299 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1008\">November 2025, Wind Mover was delivered with the final instalments also paid upon delivery.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCommitmentsExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-592": {
   "value": "<div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 30</span></div><div class=\"ps6906 ss0\" style=\"font-size:16pt\"><span class=\"f charStyle-940783b5 ps186\">Events After Reporting <span id=\"ie55eb42c377940838a3071b75d6a1771\"></span></span><span class=\"f charStyle-940783b5 ps11349\">P</span><span class=\"f charStyle-940783b5 ps11350\">eriod</span></div><div class=\"ps6907 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Management has evaluated events and transactions occurring after </span></div><div class=\"ps11300 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">the balance sheet date through the date the financial statements </span></div><div class=\"ps11351 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">were available to be issued. Based on this evaluation, there were no </span></div><div class=\"ps3326 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">subsequent events identified that require adjustment to or disclosure </span></div><div class=\"ps3327 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">in the accompanying financial statements.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-593": {
   "value": "<div class=\"ps7955 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">Note 31</span></div><div class=\"ps11352 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Authorisation of Financial <span id=\"iff3ad010ac4f419c87c1169939df0bbf\"></span></span></div><div class=\"ps11353 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps186\">Statements</span></div><div class=\"ps3306 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">These financial statements were authorised for issue by a resolution </span></div><div class=\"ps3307 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">of the Board of Directors and Executive Management of Cadeler A/S </span></div><div class=\"ps3308 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">on 24 March </span><span class=\"f charStyle-c1b8f9f6 ps11354\">2026</span><span class=\"f charStyle-c1b8f9f6 ps11355\"> and will be submitted for approval to the </span></div><div class=\"ps3309 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">shareholders of the Company at the annual general meeting to be </span></div><div class=\"ps6985 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps186\">held on </span><span class=\"f charStyle-c1b8f9f6 ps11356\">21 April </span><span class=\"f charStyle-c1b8f9f6 ps11357\">2026</span><span class=\"f charStyle-c1b8f9f6 ps11358\">.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  }
 }
}