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   "value": "<div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 1</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">General Information<span id=\"ifed27cb0acdb4ab3b964c3711a47fe1d\"></span></span></div><div class=\"ps6921 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Corporate information <span id=\"i2b29c53f447a4dc88448ca1b0309d6bb\"></span></span></div><div class=\"ps6924 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Cadeler </span><span class=\"f charStyle-c1b8f9f6 ps6922\">A/S</span><span class=\"f charStyle-c1b8f9f6 ps6923\"> (the \u201cCompany\u201d or the \u201cGroup\u201d) is incorporated and </span></div><div class=\"ps6926 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">domiciled in Denmark. The address of its registered office is </span><span class=\"f charStyle-c1b8f9f6 ps6925\">Kalvebod </span></div><div class=\"ps2788 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Brygge</span><span class=\"f charStyle-c1b8f9f6 ps6927\"> </span><span class=\"f charStyle-c1b8f9f6 ps6928\">43</span><span class=\"f charStyle-c1b8f9f6 ps6929\">, DK-</span><span class=\"f charStyle-c1b8f9f6 ps6930\">1560</span><span class=\"f charStyle-c1b8f9f6 ps6931\"> </span><span class=\"f charStyle-c1b8f9f6 ps6932\">Copenhagen</span><span class=\"f charStyle-c1b8f9f6 ps6933\">, </span><span class=\"f charStyle-c1b8f9f6 ps6934\">Denmark</span><span class=\"f charStyle-c1b8f9f6 ps6935\">. The Company is listed </span></div><div class=\"ps2789 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">on the New York Stock Exchange (ticker: CDLR) and the Oslo Stock </span></div><div class=\"ps2790 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Exchange (ticker: CADLR). </span></div><div class=\"ps6936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group is a global leader in offshore wind installation, operations, </span></div><div class=\"ps6937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">and maintenance services headquartered in Copenhagen, Denmark. </span></div><div class=\"ps6940 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group owns </span><span class=\"f charStyle-c1b8f9f6 ps6938\">ten</span><span class=\"f charStyle-c1b8f9f6 ps6939\"> offshore jack-up Wind Turbine Installation </span></div><div class=\"ps2794 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Vessels (WTIVs): Wind Orca, Wind Osprey, Wind Scylla, Wind Zaratan, </span></div><div class=\"ps2795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Wind Peak, and </span><span class=\"f charStyle-c1b8f9f6 ps6941\">five</span><span class=\"f charStyle-c1b8f9f6 ps6942\"> vessels added during 2025, Wind Pace, Wind </span></div><div class=\"ps2796 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Maker, Wind Keeper, Wind Ally and Wind Mover, the last of which </span></div><div class=\"ps2797 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">was delivered in December 2025. In addition to wind farm </span></div><div class=\"ps2798 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">installation, these vessels can perform maintenance, construction, </span></div><div class=\"ps2799 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">decommissioning, and other tasks within the offshore industry.</span></div><div class=\"ps2800 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The consolidated financial statements of the Group are composed of </span></div><div class=\"ps2801 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the Financial Statements of Cadeler A/S and its subsidiaries (which </span></div><div class=\"ps2802 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">are wholly owned by the Parent Company Cadeler A/S). For further </span></div><div class=\"ps2803 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">information on the subsidiaries of Cadeler A/S please refer to </span><span class=\"f charStyle-c1b8f9f6 ps6943\">Note </span></div><div class=\"ps2804 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">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-498": {
   "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-501": {
   "value": "A/S",
   "dimensions": {
    "concept": "ifrs-full:LegalFormOfEntity",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-508": {
   "value": "Denmark",
   "dimensions": {
    "concept": "ifrs-full:DomicileOfEntity",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-509": {
   "value": "Denmark",
   "dimensions": {
    "concept": "ifrs-full:CountryOfIncorporation",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-510": {
   "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 ps183\">Note 2</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Basis of Presentation and other significant accounting policies<span id=\"i3df6c4dd1cfc436685452c5385aa156e\"></span></span></div><div class=\"ps6949 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">2.1. Basis for preparation<span id=\"if76a4f3284a441c188f583afb50f7d1a\"></span></span></div><div class=\"ps6950 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The consolidated financial statements included in this Annual Report </span></div><div class=\"ps6951 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">have been prepared in accordance with IFRS Accounting Standards </span></div><div class=\"ps6952 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">(IFRS) as issued by the International Accounting Standards Board </span></div><div class=\"ps6953 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">(IASB) and as endorsed by the EU, as well as further requirements in </span></div><div class=\"ps6954 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the Danish Financial Statements Act. </span></div><div class=\"ps6955 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The preparation of these consolidated financial statements in </span></div><div class=\"ps6956 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">conformity with IFRS requires management to exercise its judgement </span></div><div class=\"ps6957 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">in the process of applying the Company\u2019s accounting policies. It also </span></div><div class=\"ps6958 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">requires the use of certain critical accounting estimates and </span></div><div class=\"ps6959 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">assumptions. Areas involving a higher degree of judgement or </span></div><div class=\"ps6960 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">complexity, or areas where estimates and assumptions are significant </span></div><div class=\"ps6961 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">to the consolidated financial statements are further described in Note </span></div><div class=\"ps4918 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">2.4.</span></div><div class=\"ps6962 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The consolidated financial statements are presented in euros and all </span></div><div class=\"ps6963 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">values are rounded to the nearest thousand, except when otherwise </span></div><div class=\"ps4897 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">indicated.</span></div><div class=\"ps4898 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The accounting policies set out in the notes have been applied </span></div><div class=\"ps4899 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">consistently in the preparation of the consolidated financial </span></div><div class=\"ps4900 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">statements for all the years presented unless stated otherwise below. </span></div><div class=\"ps6949 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps879\">Comparative figures<span id=\"i4a39e38604ab435d8480997ed006d9c5\"></span></span></div><div class=\"ps6950 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">In December 2023, Cadeler and Eneti merged, and from this point in </span></div><div class=\"ps6951 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">time the consolidated figures comprised Cadeler A/S and its </span></div><div class=\"ps6952 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">subsidiaries and Eneti and its subsidiaries (which are wholly owned by </span></div><div class=\"ps6953 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">the Group). Therefore the activity of the Group is not fully </span></div><div class=\"ps6954 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">comparable between </span><span class=\"f charStyle-c1b8f9f6 ps6964\">2025</span><span class=\"f charStyle-c1b8f9f6 ps6965\">, </span><span class=\"f charStyle-c1b8f9f6 ps6966\">2024</span><span class=\"f charStyle-c1b8f9f6 ps6967\"> and </span><span class=\"f charStyle-c1b8f9f6 ps6968\">2023</span><span class=\"f charStyle-c1b8f9f6 ps6969\">. For further information </span></div><div class=\"ps6971 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">on the subsidiaries of Cadeler A/S please refer to </span><span class=\"f charStyle-c1b8f9f6 ps6970\">Note 29.</span></div><div class=\"ps3425 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps879\">Materiality<span id=\"i1609999e90db47ef9260fce7661dd991\"></span></span></div><div class=\"ps3426 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">Our Annual Report is structured around the principle of materiality, </span></div><div class=\"ps2464 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">focusing on information that holds relevance for the users of the </span></div><div class=\"ps2465 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">consolidated financial statements. These consolidated financial </span></div><div class=\"ps2466 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">statements encompass numerous transactions, which are grouped </span></div><div class=\"ps2467 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">into categories based on their nature or function. These categories </span></div><div class=\"ps2468 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">are then presented in the consolidated financial statements as </span></div><div class=\"ps4552 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">required by IFRS. When individual items are deemed immaterial, they </span></div><div class=\"ps5089 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">are combined with other similar items in either the consolidated </span></div><div class=\"ps1002 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">financial statements or the accompanying notes.</span></div><div class=\"ps1003 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">In line with IFRS guidelines we include the necessary disclosures, </span></div><div class=\"ps4553 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">unless the information is considered immaterial to the economic </span></div><div class=\"ps2559 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">decision-making of the users or is not applicable in the context of the </span></div><div class=\"ps2560 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">consolidated financial statements.</span></div><div class=\"ps6949 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps916\">Going concern assessment<span id=\"i6bf4fe85f08a4abb89ed9ee6fc4fbbe1\"></span></span></div><div class=\"ps6950 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">The Company\u2019s Board of Directors and Executive Directors, have at </span></div><div class=\"ps6951 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">the time of approving the consolidated financial statements, assessed </span></div><div class=\"ps6952 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">that the Group has adequate resources to continue as a going </span></div><div class=\"ps6953 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">concern for at least </span><span class=\"f charStyle-c1b8f9f6 ps6972\">12 months</span><span class=\"f charStyle-c1b8f9f6 ps6973\"> after the balance sheet date. </span></div><div class=\"ps6974 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Thus, the Group continues to adopt the going concern basis of </span></div><div class=\"ps6955 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">accounting in preparing the consolidated financial statements. </span></div></div><div class=\"ps6977 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">European Single Electronic Format (ESEF)<span id=\"i78b8bfed68ba4f9d9b1830e637167b94\"></span></span></div><div class=\"ps3379 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">As a group with securities </span><span class=\"f charStyle-c1b8f9f6 ps6978\">listed</span><span class=\"f charStyle-c1b8f9f6 ps6979\"> on a regulated market within the EEA, Cadeler A/S is required to prepare </span></div><div class=\"ps3380 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">its official Annual Report in the XHTML format and to tag the main consolidated financial statements using </span></div><div class=\"ps6980 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">inline eXtensible Business Reporting Language (iXBRL) applying a specific ESEF taxonomy. The annual </span></div><div class=\"ps6981 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">report submitted to the Danish Financial Supervisory Authority consists of the XHTML document together </span></div><div class=\"ps6984 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">with the required technical files, all included in a ZIP file named cadeler-</span><span class=\"f charStyle-c1b8f9f6 ps6982\">2025-12-31</span><span class=\"f charStyle-c1b8f9f6 ps6983\">-en.zip. </span></div><div class=\"ps6985 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">As such, the Annual Report is both human- and machine-readable.</span></div><div class=\"ps6986 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">A separate assurance report on the iXBRL tagging of the consolidated financial statements is issued by </span></div><div class=\"ps6987 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Cadeler's independent auditors and included on page 252. For general use, a PDF version of the Annual </span></div><div class=\"ps6988 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Report is published in line with previous years. </span></div><div class=\"ps6990 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">2.2. General accounting policies <span id=\"iaa4fbc8b1ee640758fa17852bba3dd6b\"></span></span></div><div class=\"ps6991 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">This section introduces accounting policies and significant accounting estimates and judgements. A more </span></div><div class=\"ps6992 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">detailed description of accounting policies and significant estimates and judgements related to specific </span></div><div class=\"ps6993 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">reported amounts is presented in the respective notes. The purpose is to provide transparency on the </span></div><div class=\"ps6994 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">disclosed amounts and to describe the relevant accounting policy, significant estimates and numerical </span></div><div class=\"ps6995 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">disclosure for each note.</span></div><div class=\"ps7007 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Principles of consolidation<span id=\"ie2ddad2eb15049f783631ee74559a9bc\"></span></span></div><div class=\"ps7008 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The consolidated financial statements include the Parent Company, </span></div><div class=\"ps7009 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Cadeler A/S, and all enterprises over which the Parent Company has </span></div><div class=\"ps7010 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">control. Control of an enterprise exists when the Company has </span></div><div class=\"ps7011 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">exposure, or rights to, variable returns from its involvement with the </span></div><div class=\"ps3194 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">enterprise and has the ability to control those returns through its </span></div><div class=\"ps7012 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">power over the enterprise. Accordingly, the consolidated financial </span></div><div class=\"ps7013 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">statements of the Group are composed of the financial statements of </span></div><div class=\"ps7014 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the Company Cadeler A/S and its subsidiaries (which are wholly </span></div><div class=\"ps7015 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">owned by the Parent Company, Cadeler A/S). </span></div><div class=\"ps7016 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">All intra-group assets and liabilities, equity, income, expenses and </span></div><div class=\"ps7017 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">cash flows relating to transactions between Group enterprises are </span></div><div class=\"ps3503 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">eliminated in full on consolidation. </span></div><div class=\"ps7018 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Currency translation <span id=\"ifc610dea6b014f188995bddfabe66dbe\"></span></span></div><div class=\"ps7023 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The financial statements are presented in eur</span><span class=\"f charStyle-c1b8f9f6 ps7019\">o (</span><span class=\"f charStyle-c1b8f9f6 ps7020\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7021\">), w</span><span class=\"f charStyle-c1b8f9f6 ps7022\">hich is also </span></div><div class=\"ps7024 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the functional currency of the parent company. For each entity in the </span></div><div class=\"ps7025 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Group, the Group determines the functional currency and items </span></div><div class=\"ps302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">included in the financial statements of each entity are measured </span></div><div class=\"ps303 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">using that functional currency. </span></div><div class=\"ps7026 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">As of 1 January 2025, all entities of the former Eneti Group have </span></div><div class=\"ps305 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">changed their functional currency from USD to EUR. The change is </span></div><div class=\"ps306 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">driven by Cadeler\u2019s acquisition of the former Eneti Group at the end </span></div><div class=\"ps7027 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">of 2023 followed by changes to the financing, organisation and </span></div><div class=\"ps7028 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">activities whereby it is Management\u2019s assessment that the primary </span></div><div class=\"ps2570 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">economic environment in which each of the entities operates has </span></div><div class=\"ps7029 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">changed to be mainly denominated in EUR. Accordingly, </span></div><div class=\"ps3231 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">management has determined that EUR is the new functional currency </span></div><div class=\"ps7030 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">that will most faithfully reflect the underlying transactions, events and </span></div><div class=\"ps7032 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">conditions relevant to the entities follow</span><span class=\"f charStyle-c1b8f9f6 ps7031\">ing the acquisition. The </span></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">amount recognised in other comprehensive income is not reclassified </span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">to profit or loss until disposal of the operation.</span></div><div class=\"ps418 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">As some of the Group entities are conducting business in an </span></div><div class=\"ps419 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">international environment, management has applied judgement to </span></div><div class=\"ps420 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">determine the primary economic environment considering that the </span></div><div class=\"ps421 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">underlying transactions, events and conditions.</span></div><div class=\"ps422 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">Transactions in a currency other than the </span><span class=\"f charStyle-c1b8f9f6 ps7035\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7036\"> (\u201cforeign currency\u201d) are </span></div><div class=\"ps423 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">translated into </span><span class=\"f charStyle-c1b8f9f6 ps7037\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7038\"> using the exchange rates at the dates of the </span></div><div class=\"ps424 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">transactions. Foreign exchange differences resulting from the </span></div><div class=\"ps5469 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">settlement of such transactions and from the translation of monetary </span></div><div class=\"ps5470 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">assets and liabilities denominated in foreign currencies at the closing </span></div><div class=\"ps5471 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">rates at the balance sheet are recognised in profit or loss. Non-</span></div><div class=\"ps7039 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">monetary items measured at fair values in foreign currencies are </span></div><div class=\"ps7040 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">translated using the exchange rates at the date when the fair values </span></div><div class=\"ps7041 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">are determined. </span></div><div class=\"ps5475 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">Foreign exchange gains and losses impacting profit or loss are </span></div><div class=\"ps5476 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">presented in the statement of profit or loss within financial income or </span></div><div class=\"ps5477 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">financial expenses. </span></div><div class=\"ps7007 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps916\">Other reserves and retained earnings<span id=\"i47faf81da68647fa949a1ce56f94e32c\"></span></span></div><div class=\"ps7008 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Other reserves include hedging reserves, cost of hedging reserves, </span></div><div class=\"ps7009 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">and foreign currency translation reserves. Hedging reserves reflect </span></div><div class=\"ps7010 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">the changes in the fair value of derivative financial instruments </span></div><div class=\"ps7011 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">designated as cash flow hedges. Cost of hedging reserves include the </span></div><div class=\"ps3194 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">time value of options and other costs associated with hedging </span></div><div class=\"ps7012 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">activities. Foreign currency translation reserves include the cumulative </span></div><div class=\"ps7013 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">translation adjustments (CTA), which arise from the conversion of the </span></div><div class=\"ps7014 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">financial statements of foreign operations into the reporting currency. </span></div><div class=\"ps7015 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Retained earnings include results from previous periods, changes to </span></div><div class=\"ps7043 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">equity arising from business combination purchase price, and share-</span></div><div class=\"ps7044 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">based payments. </span></div><div class=\"ps7045 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps916\">Statement of cash flows <span id=\"i0a872444d31d47f6aa58aca17f10afe8\"></span></span></div><div class=\"ps298 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">The statement of cash flows shows the Group\u2019s cash flows for the </span></div><div class=\"ps299 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">year, classified as operating, investing and financing activities, net </span></div><div class=\"ps300 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">changes for the year in cash and cash equivalents as well as the </span></div><div class=\"ps301 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Group\u2019s cash and cash equivalents at the beginning and end of the </span></div><div class=\"ps7046 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">year. </span></div><div class=\"ps303 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Positive amounts indicate cash inflows, whereas negative amounts </span></div><div class=\"ps304 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">indicate cash outflows.</span></div><div class=\"ps7007 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Cash flows from operating activities<span id=\"i35a919a73302405580135f59817a44f6\"></span></span></div><div class=\"ps7008 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Cash flows from operating activities are stated as the profit or loss for </span></div><div class=\"ps7009 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the year adjusted for non-cash operating items such as depreciation, </span></div><div class=\"ps7010 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">changes in working capital and income tax paid or received. Working </span></div><div class=\"ps7011 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">capital includes current assets less current liabilities, excluding cash </span></div><div class=\"ps3194 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">and cash equivalents and interest income.</span></div><div class=\"ps7048 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Cash flows from investing activities <span id=\"i23afe452205241b5a13a1c66b93da7e0\"></span></span></div><div class=\"ps7049 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Cash flows from investing activities comprise cash flows from the </span></div><div class=\"ps7050 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">acquisition and sale of non-current assets and businesses. Cash flows </span></div><div class=\"ps7051 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">from restricted cash are presented within investing activities.</span></div><div class=\"ps7052 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Cash flows from financing activities<span id=\"if80fd287c2974d04bd49f278b6eeff03\"></span></span></div><div class=\"ps7053 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Cash flows from financing activities comprise cash flows from </span></div><div class=\"ps7054 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">instalments on lease liabilities, and interest paid as well as proceeds </span></div><div class=\"ps69 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">from the issue of shares, restricted cash, treasury shares and debt as </span></div><div class=\"ps7055 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">well as the prepayment of borrowings.</span></div><div class=\"ps7056 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">2.3. Changes in accounting policies and disclosures<span id=\"id07e8b1419b341b58752aad8d7866e6e\"></span></span></div><div class=\"ps2865 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps183\">2.3.1. New accounting policies and disclosures</span></div><div class=\"ps2960 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group has adopted standards and interpretations effective as of </span></div><div class=\"ps2961 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">1\u00a0January 2025</span><span class=\"f charStyle-c1b8f9f6 ps7057\">. Adoption of new, amended standards and </span></div><div class=\"ps2962 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">interpretations had no material impact on the Group\u2019s consolidated </span></div><div class=\"ps2963 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">financial statements.</span></div><div class=\"ps7058 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps183\">2.3.2. Standards issued but not yet effective </span></div><div class=\"ps7059 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">IASB has issued several new and amended accounting standards </span></div><div class=\"ps7060 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">(IFRS) and interpretations (IFRS IC). The Group has assessed these </span></div><div class=\"ps2370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">new and amended accounting standards and interpretations, and </span></div><div class=\"ps7061 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">does not anticipate any of them to have any material impact on </span></div><div class=\"ps7062 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">recognition or measurement in the consolidated financial statements.</span></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">IFRS 18 Presentation and Disclosure in Financial Statements, which </span></div><div class=\"ps7063 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">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 ps879\">beginning on or after 1 January 2027 and replaces IAS 1 Presentation </span></div><div class=\"ps7064 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">of Financial Statements. </span></div><div class=\"ps3164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">The implementation will affect the presentation of the consolidated </span></div><div class=\"ps7065 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">statement of profit or loss with the introduction of specified </span></div><div class=\"ps7066 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">categories and specified sub totals. The changed presentation will </span></div><div class=\"ps7067 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">result in certain items being classified differently, such as foreign </span></div><div class=\"ps7068 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">exchange adjustments and interest income. These items will be </span></div><div class=\"ps7069 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">classified in the category as the related income and expense arise, </span></div><div class=\"ps7070 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">e.g. foreign exchange adjustments related to accounts payables or </span></div><div class=\"ps7071 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">receivables will be classified in the operating category and interest </span></div><div class=\"ps7072 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">income and foreign exchange adjustments arising from cash and </span></div><div class=\"ps7073 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">cash equivalents will be classified in the investing category. The </span></div><div class=\"ps5472 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">reported net results will not be affected. The implementation is also </span></div><div class=\"ps5473 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">expected to impact the presentation of statement of financial </span></div><div class=\"ps5474 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">position with goodwill being presented as a separate line item, the </span></div><div class=\"ps5475 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">starting point of the statement of cash flows changing to operating </span></div><div class=\"ps5476 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">profit or loss and the disclosures related to management defined </span></div><div class=\"ps5477 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">performance measures (MPM).</span></div><div class=\"ps7042 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">The Group is currently working to further identify and analyse the </span></div><div class=\"ps5479 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">implications on the consolidated financial statements. Our </span></div><div class=\"ps5480 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">interpretation of the application may evolve as additional guidance </span></div><div class=\"ps5481 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">will become available.</span></div><div class=\"ps7074 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">The Group expects to adopt the accounting standards and </span></div><div class=\"ps7075 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">interpretations as they become mandatory.</span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies for revenue from contracts with <span id=\"i17b5a42201704d018ec5535d4cbb9e0b\"></span></span></div><div class=\"ps7569 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">customers</span></div><div class=\"ps7570 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">We initially assess whether the contracts contain a lease component. </span></div><div class=\"ps7571 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In general, we have determined that our contracts consist of a leasing </span></div><div class=\"ps7572 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">component (the element relating to hire of the vessel) and a service </span></div><div class=\"ps7573 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">component. These components are not treated or priced separately </span></div><div class=\"ps7574 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">in the contracts, nor does the Group offer either of the services </span></div><div class=\"ps7049 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">separately. The service component is within the scope of IFRS 15, </span></div><div class=\"ps7050 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">while the leasing component is within the scope of IFRS 16. The lease </span></div><div class=\"ps7051 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">components are classified as an operating lease, as such leases do </span></div><div class=\"ps7083 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">not cover a significant part of the economic life of the vessels and the </span></div><div class=\"ps7084 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Group retains substantially all risks and rewards incidental to </span></div><div class=\"ps297 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">ownership of the vessels. The leasing component is recognised as </span></div><div class=\"ps298 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">revenue over time over the charter period. Prepayments from </span></div><div class=\"ps299 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">customers for the leasing component are recognised as deferred </span></div><div class=\"ps300 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">revenue.</span></div><div class=\"ps7025 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Once the service component has been determined to be within the </span></div><div class=\"ps302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">scope of IFRS 15, the Group performs the following five steps on a </span></div><div class=\"ps303 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">contract-by-contract basis: (i) identify the contract(s) with a customer; </span></div><div class=\"ps304 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">(ii) identify the performance obligations in the contract; (iii) determine </span></div><div class=\"ps7575 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the transaction price; (iv) allocate the transaction price to the </span></div><div class=\"ps7576 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">performance obligations in the contract; and (v) recognise revenue </span></div><div class=\"ps7577 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">when (or as) the Group satisfies a performance obligation.</span></div><div class=\"ps7028 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Our contracts with customers are complex and normally contains </span></div><div class=\"ps2570 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">multiple types of promises to the customer. At contract inception, </span></div><div class=\"ps7029 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">judgement is performed when determining if a contract contains one </span></div><div class=\"ps3231 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">or more performance obligations. The Group assesses the goods and </span></div><div class=\"ps7030 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">services promised within each contract and identifies as a </span></div><div class=\"ps7032 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">performance obligation each good or service that is distinct. </span></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">Revenue from transportation and installation activities may, </span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">depending on the contract, represent one or more performance </span></div><div class=\"ps7161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">obligations. In respect of T&amp;I service components, the following main </span></div><div class=\"ps7164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">promises apply: Planning and engineering, Transport of monopiles </span></div><div class=\"ps7578 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">and secondary steel from supply port to feeder port, Installation of </span></div><div class=\"ps7579 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">monopiles and secondary steel offshore, Storage and handling at </span></div><div class=\"ps6936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">feeder port, and Warranty. While the contracts contain several </span></div><div class=\"ps6937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">distinct promises, these are considered less interdependent and </span></div><div class=\"ps6940 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">interrelated and as such are considered multiple performance </span></div><div class=\"ps2794 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">obligations.</span></div><div class=\"ps7167 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">Revenue is generally recognised over time as the service is being </span></div><div class=\"ps7173 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">provided using a method, depending on what better depicts the </span></div><div class=\"ps7174 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">progress of each separate performance obligation, as detailed below:</span></div><div class=\"ps7599 ss0\"><div class=\"ss607 ws0 ps7598\"><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=\"ps37 ss430\"><div><div class=\"ps7581 ss429\"><span class=\"f charStyle-b77d0160 ps39\">Performance obligations in T&amp;I <span class=\"f ps40\"> </span></span></div><div class=\"ps7582 ss429\"><span class=\"f charStyle-b77d0160 ps39\">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=\"ps7583 ss601\"><div><div class=\"ps7581 ss338\"><span class=\"f charStyle-b77d0160 ps39\">Recognition of <span class=\"f ps40\"> </span></span></div><div class=\"ps7582 ss338\"><span class=\"f charStyle-b77d0160 ps39\">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=\"ps7585 ss603\"><div><div class=\"ps7584 ss602\"><span class=\"f charStyle-b77d0160 ps39\">Measure of progress<span class=\"f ps40\"> </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=\"ps439 ss604\"><div><div class=\"ps7586 ss429\"><span class=\"f charStyle-cc5e4236 ps39\">Planning and engineering services to the <span class=\"f ps40\"> </span></span></div><div class=\"ps7587 ss429\"><span class=\"f charStyle-cc5e4236 ps39\">customer.</span></div></div></div></td><td style=\"background-color:#ffffff;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7588 ss605\"><div><div class=\"ps7214 ss338\"><span class=\"f charStyle-cc5e4236 ps39\">Over time<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7591 ss606\"><div><div class=\"ps7589 ss602\"><span class=\"f charStyle-cc5e4236 ps39\">Total costs incurred to date <span class=\"f ps40\"> </span></span></div><div class=\"ps7214 ss602\"><span class=\"f charStyle-cc5e4236 ps39\">compared with total forecast </span></div><div class=\"ps7590 ss602\"><span class=\"f charStyle-cc5e4236 ps39\">costs at completion</span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps3743 ss604\"><div><div class=\"ps7589 ss429\"><span class=\"f charStyle-cc5e4236 ps39\">Transportation of monopiles and <span class=\"f ps40\"> </span></span></div><div class=\"ps7214 ss429\"><span class=\"f charStyle-cc5e4236 ps39\">secondary steel from supply port to </span></div><div class=\"ps7590 ss429\"><span class=\"f charStyle-cc5e4236 ps39\">feeder port</span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7592 ss605\"><div><div class=\"ps7214 ss338\"><span class=\"f charStyle-cc5e4236 ps39\">Over time<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7593 ss606\"><div><div class=\"ps7586 ss602\"><span class=\"f charStyle-cc5e4236 ps39\">Total time spend compared <span class=\"f ps40\"> </span></span></div><div class=\"ps7587 ss602\"><span class=\"f charStyle-cc5e4236 ps39\">with total forecast time</span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps1808 ss604\"><div><div class=\"ps7586 ss429\"><span class=\"f charStyle-cc5e4236 ps39\">Storage and handling of the material used <span class=\"f ps40\"> </span></span></div><div class=\"ps7587 ss429\"><span class=\"f charStyle-cc5e4236 ps39\">in the installation</span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps7594 ss605\"><div><div class=\"ps7214 ss338\"><span class=\"f charStyle-cc5e4236 ps39\">Over time<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps7595 ss606\"><div><div class=\"ps7586 ss602\"><span class=\"f charStyle-cc5e4236 ps39\">Total time spend compared <span class=\"f ps40\"> </span></span></div><div class=\"ps7587 ss602\"><span class=\"f charStyle-cc5e4236 ps39\">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=\"ps55 ss604\"><div><div class=\"ps7586 ss429\"><span class=\"f charStyle-cc5e4236 ps39\">Installation of monopiles and secondary <span class=\"f ps40\"> </span></span></div><div class=\"ps7587 ss429\"><span class=\"f charStyle-cc5e4236 ps39\">steel offshore</span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7596 ss605\"><div><div class=\"ps7214 ss338\"><span class=\"f charStyle-cc5e4236 ps39\">Over time<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7597 ss606\"><div><div class=\"ps7586 ss602\"><span class=\"f charStyle-cc5e4236 ps39\">Total time spend compared <span class=\"f ps40\"> </span></span></div><div class=\"ps7587 ss602\"><span class=\"f charStyle-cc5e4236 ps39\">with total forecast time</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7600 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">While time-charter contracts contain several promises, these are </span></div><div class=\"ps7601 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">usually considered highly interdependent and highly interrelated and </span></div><div class=\"ps7602 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">as such considered as one single performance obligation recognised </span></div><div class=\"ps7603 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">over time applying a relevant measured of progress, usually output </span></div><div class=\"ps7604 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">method based on time.</span></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">The Group is sometimes providing bunker procurement services to </span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">help customers ensure that sufficient bunker is available to operate </span></div><div class=\"ps7161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">the vessels at the right time and in the right quality and quantity. </span></div><div class=\"ps7164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Management\u2019s assessment of whether a principal or agent </span></div><div class=\"ps7578 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">relationship exists is based upon whether the Group has the ability to </span></div><div class=\"ps7579 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">control the goods before they are transferred to the customer. This </span></div><div class=\"ps6936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">assessment is performed on a contract-by-contract basis at contract </span></div><div class=\"ps6937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">inception and takes into account various factors such as whether the </span></div><div class=\"ps6940 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Group takes legal title of the bunker and has the ability to direct the </span></div><div class=\"ps2794 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">use of the bunker. The fees earned are recognized as revenue over </span></div><div class=\"ps2795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">the service period.</span></div><div class=\"ps7173 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Revenue is recognised when control of the services is transferred to </span></div><div class=\"ps7174 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">the customer at an amount that reflects the consideration to which </span></div><div class=\"ps7175 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">the Group expects to be entitled in exchange for those services. </span></div><div class=\"ps7177 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Revenue is recognised in the amount of the transaction price that is </span></div><div class=\"ps2800 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">allocated to the respective performance obligations when (or as) the </span></div><div class=\"ps2801 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">performance obligation is satisfied. </span></div><div class=\"ps7170 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Variable consideration, for example in respect of weather days and </span></div><div class=\"ps7171 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">extension of time, steel price or bunker price etc, is constrained at </span></div><div class=\"ps7172 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">contract inception to the extent that it is highly probable that a </span></div><div class=\"ps6944 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">significant reversal in the amount of cumulative revenue recognised </span></div><div class=\"ps7605 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">will not occur when the uncertainty associated with the variable </span></div><div class=\"ps7606 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">consideration is subsequently resolved.</span></div><div class=\"ps7607 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">The Group provides warranties for repair of defects which are </span></div><div class=\"ps7608 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">identified during the contract and within a defined period thereafter. </span></div><div class=\"ps7609 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">In general, all are assurance-type warranties, as defined within IFRS </span></div><div class=\"ps7612 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">15, which the Group recognises under I</span><span class=\"f charStyle-c1b8f9f6 ps7610\">AS 37.</span><span class=\"f charStyle-c1b8f9f6 ps7611\"> Compensation </span></div><div class=\"ps7613 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">received, or receivable, for early termination are recognised as </span></div><div class=\"ps7614 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">revenue with deferral of an estimated value of any obligations to </span></div><div class=\"ps7615 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">standing ready for new engagements in the remaining contract </span></div><div class=\"ps7616 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">period.</span></div><div class=\"ps7007 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies<span id=\"i5bd065fe8d5945acb03e5c28945340b2\"></span></span></div><div class=\"ps266 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps183\">Cost of sales and administrative expenses</span></div><div class=\"ps1548 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Cost of sales consists of expenses directly attributable to the Group\u2019s core activities, including seafarers </span></div><div class=\"ps1549 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">payroll, vessel depreciation, and the operation and maintenance of vessels.</span></div><div class=\"ps3849 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Administrative expenses, which include administrative staff costs, share-based compensation, management </span></div><div class=\"ps1781 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">costs, office expenses, business combination transaction costs and other administration-related expenses, </span></div><div class=\"ps1782 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">are expensed as they are incurred.</span></div><div class=\"ps7787 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies<span id=\"ia47b4fd9e128497db31db7f4383e5de6\"></span></span></div><div class=\"ps7788 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Other operating income and expenses, include transactions not related to the operations of the Group, </span></div><div class=\"ps7789 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">such as, gains and losses on the sale of non-current assets. Such transactions are generally recognised </span></div><div class=\"ps7790 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">when it is probable that the benefits and losses associated with the transaction will flow to the Company </span></div><div class=\"ps7791 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">and when the significant risks and rewards have been transferred to the buyer (generally when the </span></div><div class=\"ps7792 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">transaction is finalised).</span></div><div class=\"ps7830 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Accounting policies</span></div><div class=\"ps7831 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Employee benefits are recognised as an expense, unless the cost qualifies for capitalisation as an asset.</span></div><div class=\"ps5285 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Employee compensation includes wages and salaries, including compensated absence and pensions, as </span></div><div class=\"ps5286 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">well as other social security contributions made to the entity\u2019s employees or public and government </span></div><div class=\"ps5287 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">authoriti</span><span class=\"f charStyle-c1b8f9f6 ps7832\">es. </span></div><div class=\"ps7007 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps916\">Accounting policies<span id=\"i3d9fd592568545fba7f9aaba92e4e114\"></span></span></div><div class=\"ps7569 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps916\">Share-based payments<span id=\"i77a129f43c404185bc9fa311eefc3b72\"></span></span></div><div class=\"ps8168 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Employees (including senior executives) of the Group receive </span></div><div class=\"ps3406 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">remuneration in the form of share-based payments, whereby </span></div><div class=\"ps269 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">employees render services as consideration for equity instruments </span></div><div class=\"ps8169 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">(equity-settled transactions).</span></div><div class=\"ps8170 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps916\">Equity-settled transactions<span id=\"ide32f3e76d934c0fb38aac612e53c8e7\"></span></span></div><div class=\"ps8171 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">The cost of equity-settled transactions is determined by the fair value </span></div><div class=\"ps8172 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">at the date on which the grant is made using an appropriate </span></div><div class=\"ps8173 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">valuation model. That cost is recognised as employee benefits </span></div><div class=\"ps4224 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">expenses, together with a corresponding increase in equity (retained </span></div><div class=\"ps4225 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">earnings), over the period in which the service and, where applicable, </span></div><div class=\"ps4226 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">the performance conditions are fulfilled (the vesting period). The </span></div><div class=\"ps4227 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">cumulative expense recognised for equity-settled transactions at each </span></div><div class=\"ps4228 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">reporting date until the vesting date reflects both the extent to which </span></div><div class=\"ps3255 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">the vesting period has expired and the Group\u2019s best estimate of the </span></div><div class=\"ps8174 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">number of equity instruments that will ultimately vest. The expense or </span></div><div class=\"ps8175 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">credit in the statement of profit or loss for a period represents the </span></div><div class=\"ps8176 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">movement in cumulative expense recognised at the beginning and </span></div><div class=\"ps1941 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">end of that period.</span></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Service and non-market performance conditions are not considered </span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">when determining the grant date fair value of awards. Instead, the </span></div><div class=\"ps7161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">likelihood of these conditions being met is assessed as part of the </span></div><div class=\"ps7164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Group\u2019s best estimate of the number of equity instruments that will </span></div><div class=\"ps7578 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">ultimately vest. Market performance conditions are reflected directly </span></div><div class=\"ps7579 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">in the grant date fair value.</span></div><div class=\"ps7118 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Any other conditions attached to an award, that do not include an </span></div><div class=\"ps7119 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">associated service requirement, are considered to be non-vesting </span></div><div class=\"ps7165 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">conditions. Non-vesting conditions are reflected in the fair value of </span></div><div class=\"ps7166 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">an award and result in an immediate expensing, unless there are also </span></div><div class=\"ps7167 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">service and/or performance conditions.</span></div><div class=\"ps5471 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">No expense is recognised for awards that do not ultimately vest as a </span></div><div class=\"ps7039 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">result non-market performance and/or service conditions not being </span></div><div class=\"ps7040 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">met. </span></div><div class=\"ps5474 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Where awards include a market or non-vesting condition, the </span></div><div class=\"ps5475 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">transactions are treated as vested regardless of whether the market </span></div><div class=\"ps5476 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">or non-vesting condition is satisfied, provided that all other </span></div><div class=\"ps5477 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">performance and/or service conditions are satisfied.</span></div><div class=\"ps7042 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The dilutive effect of outstanding options is reflected as additional </span></div><div class=\"ps5479 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">share dilution in the computation of diluted earnings per share in a </span></div><div class=\"ps5480 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">loss situation only where the loss per share is reduced.</span></div><div class=\"ps6921 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Accounting policies<span id=\"i87a40683dcc746a6b776ffeef0cb9094\"></span></span></div><div class=\"ps6924 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Finance income and expenses comprise interest income and expenses, as well as realised and unrealised </span></div><div class=\"ps6926 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">exchange rate gains and losses on transactions denominated in foreign currencies, together with fair value </span></div><div class=\"ps2788 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">adjustments related to the ineffective portion of financial instruments.</span></div><div class=\"ps7578 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Interest income and interest expenses are recognised using the effective interest rate. The effective interest </span></div><div class=\"ps7579 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">rate is the discount rate used to discount expected future cash payments or receipts over the expected life </span></div><div class=\"ps6936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">of a financial asset or financial liability to the amortised cost (carrying amount) of such asset or liability.</span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies<span id=\"iaa5bb185da4f4e46bcc0ee0c55850511\"></span></span></div><div class=\"ps8676 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Income tax<span id=\"i3f81635efec443248fde029ce6605cb5\"></span></span></div><div class=\"ps8677 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Current income tax for current and prior periods is recognised at the </span></div><div class=\"ps8678 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">amount expected to be paid to or recovered from the tax authorities, </span></div><div class=\"ps8679 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">using the tax rates and tax laws that have been enacted or </span></div><div class=\"ps8680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">substantively enacted at the balance sheet date.</span></div><div class=\"ps8681 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Management periodically evaluates positions taken in tax returns in </span></div><div class=\"ps8682 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">situations where applicable tax regulation is subject to interpretation. </span></div><div class=\"ps8683 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">It establishes provisions, where appropriate, based on amounts </span></div><div class=\"ps8684 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">expected to be paid to the tax authorities.</span></div><div class=\"ps3200 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Deferred income tax is recognised for all temporary differences </span></div><div class=\"ps8685 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">arising between the tax bases of assets and liabilities and their </span></div><div class=\"ps8686 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">carrying amounts in the financial statements. An exception applies </span></div><div class=\"ps8687 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">where the deferred tax arises from the initial recognition of an asset </span></div><div class=\"ps8688 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">or liability in a transaction that is not a business combination and, at </span></div><div class=\"ps8689 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the time of the transaction, affects neither accounting profit nor </span></div><div class=\"ps8690 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">taxable profit or loss and does not give rise to equal taxable and </span></div><div class=\"ps8691 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">deductible temporary differences.</span></div><div class=\"ps8692 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Deferred income tax is measured at the tax rates expected to apply </span></div><div class=\"ps8693 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">when the related deferred income tax asset is realised or the deferred </span></div><div class=\"ps8694 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">income tax liability is settled, based on tax rates and tax laws that </span></div><div class=\"ps8695 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">have been enacted or substantively enacted at the balance sheet </span></div><div class=\"ps8696 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">date.</span></div><div class=\"ps8697 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Current and deferred income taxes are recognised as income or </span></div><div class=\"ps8698 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">expenses in profit or loss, except to the extent that the tax arises from </span></div><div class=\"ps8699 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">a transaction that is recognised directly in equity.</span></div><div class=\"ps8676 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps879\">Tonnage tax<span id=\"i1e48f8d893844d02ad3e8abca1bccee5\"></span></span></div><div class=\"ps8677 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">Under the scheme, ship-owners (or bareboat charterers) pay a fixed </span></div><div class=\"ps8678 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">tax amount per net tonne at their disposal rather than paying taxes </span></div><div class=\"ps8679 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">based on taxable income, expenses, and depreciation. The Group has </span></div><div class=\"ps8680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">participated in the Danish scheme since 27 November 2020 and </span></div><div class=\"ps8701 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">joined the UK tonnage tax scheme, effective January 2025.</span></div><div class=\"ps8682 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">As the vessels are owned and registered by subsidiaries in </span></div><div class=\"ps8683 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">jurisdictions other than Denmark, the Group is also subject to </span></div><div class=\"ps8684 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">tonnage taxation in those jurisdictions. Such tonnage taxation is </span></div><div class=\"ps8702 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">calculated based on a fixed tax amount per tonne.</span></div><div class=\"ps8685 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">As this scheme is based on a notional income derived from tonnage </span></div><div class=\"ps8686 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">capacity and not based on the entities' actual income and expenses, </span></div><div class=\"ps8687 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">the Group does not consider the scheme to fall under the scope of </span></div><div class=\"ps8688 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">IAS 12. Consequently, tonnage tax expenses are not presented as part </span></div><div class=\"ps8689 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">of tax expense in the statement of profit and loss, but are recognised </span></div><div class=\"ps8690 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">within costs of sales.</span></div><div class=\"ps7795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Accounting policies<span id=\"iad8a928edd3c4a15b20704b9809d0a73\"></span></span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The Company calculates Basic EPS by dividing the profit for the year attributable to ordinary equity holders </span></div><div class=\"ps7161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">of the parent by the weighted average number of ordinary shares outstanding during the year.</span></div><div class=\"ps419 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Diluted EPS is calculated by dividing the profit attributable to ordinary holders of the parent by the weighted </span></div><div class=\"ps420 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">average number of ordinary shares outstanding during the year plus the weighted average number of </span></div><div class=\"ps421 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">ordinary shares that would be issued on conversion of all the dilutive potential ordinary shares into ordinary </span></div><div class=\"ps7118 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">shares.</span></div><div class=\"ps8950 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Accounting policies<span id=\"i65d000fd33794c69802776ec533f71cd\"></span></span></div><div class=\"ps6994 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Goodwill is tested for impairment at least once a year or sooner if an impairment indication arises. </span></div><div class=\"ps6995 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Impairment testing is performed for each CGU to which goodwill is allocated, as determined by </span></div><div class=\"ps8951 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Management.</span></div><div class=\"ps8952 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">If the carrying amount of intangible assets exceeds the recoverable amount, an impairment will be </span></div><div class=\"ps8953 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">recognised in the statement of profit and loss. Any impairment of goodwill impairment losses cannot be </span></div><div class=\"ps5077 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">reversed subsequently.</span></div><div class=\"ps8954 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Intangible assets, such as software, are recognised at cost less accumulated depreciation and accumulated </span></div><div class=\"ps8955 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">impairment losses. The cost of an intangible asset initially recognised includes its purchase price and any </span></div><div class=\"ps8956 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">directly attributable costs necessary to prepare the asset for its intended use. Depreciation is calculated on a </span></div><div class=\"ps8960 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">straight-line basis over the estimated useful life, which is </span><span class=\"f charStyle-c1b8f9f6 ps8957\">3 years</span><span class=\"f charStyle-c1b8f9f6 ps8958\"> for software.</span><span class=\"f charStyle-c1b8f9f6 ps8959\"> </span></div><div class=\"ps9348 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies<span id=\"i0ddbd7e4d5ee4f2694b6407c8d48253e\"></span></span></div><div class=\"ps7332 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Property, plant and equipment are recognised at cost less accumulated depreciation and accumulated </span></div><div class=\"ps8877 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">impairment losses.</span></div><div class=\"ps6980 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The cost of an item of property, plant and equipment initially recognised includes its purchase price and any </span></div><div class=\"ps6981 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">costs that are directly attributable to bringing the asset to the location and condition necessary for it to be </span></div><div class=\"ps6984 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">capable of operating in the manner intended by management.</span></div><div class=\"ps6985 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Subsequent expenditure relating to property, plant and equipment that has already been recognised is </span></div><div class=\"ps7362 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">added to the carrying amount of the asset only when it is probable that future economic benefits associated </span></div><div class=\"ps9349 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">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=\"ps9350 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">maintenance expenses are recognised in profit or loss as incurred.</span></div><div class=\"ps9352 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">To maintain operational capability, the vessels are required to undergo dry-docking procedures every </span><span class=\"f charStyle-c1b8f9f6 ps9351\">five </span></div><div class=\"ps9353 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">years</span><span class=\"f charStyle-c1b8f9f6 ps8115\">. The costs of the dry-docking procedures are capitalised at cost, including any costs that are directly </span></div><div class=\"ps9354 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">attributable to bringing the vessels to the location and condition necessary for the dry-docking procedures.</span></div><div class=\"ps8949 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Depreciation is calculated using the straight-line method to allocate their depreciable amounts over the </span></div><div class=\"ps9356 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">assets\u2019 estimated useful life. </span><span class=\"f charStyle-c1b8f9f6 ps9355\">The estimated useful lives are as follows:</span></div><div class=\"ps9364 ss0\"><div class=\"ss176 ws0 ps67\"><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=\"ps8588 ss687\"><div><div class=\"ps41 ss686\"><span class=\"f charStyle-a2ac8934 ps39\">Useful life<span class=\"f ps40\"> </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=\"ps43 ss688\"><div><div class=\"ps748 ss655\"><span class=\"f charStyle-2b5af115 ps39\">Vessels and furnished equipment<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:1pt solid #000;padding:0\"><div class=\"ps9358 ss689\"><div><div class=\"ps748 ss686\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps39\">Up to </span><span class=\"f charStyle-1770e19e ps9357\">25 years</span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps5644 ss688\"><div><div class=\"ps748 ss655\"><span class=\"f charStyle-2b5af115 ps39\">Drydock<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9359 ss689\"><div><div class=\"ps748 ss686\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps39\">5 years</span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps2259 ss688\"><div><div class=\"ps748 ss655\"><span class=\"f charStyle-2b5af115 ps39\">Cars<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps9360 ss689\"><div><div class=\"ps748 ss686\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps39\">5 years</span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps5527 ss688\"><div><div class=\"ps748 ss655\"><span class=\"f charStyle-2b5af115 ps39\">Other fixtures and fittings<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9363 ss689\"><div><div class=\"ps748 ss686\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps39\">2</span><span class=\"f charStyle-1770e19e ps9361\"> to </span><span class=\"f charStyle-1770e19e ps9362\">3 years</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6997 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The estimated useful life of the vessels of up to </span><span class=\"f charStyle-c1b8f9f6 ps9365\">25 years</span><span class=\"f charStyle-c1b8f9f6 ps9366\"> has been determined by an external consultant </span></div><div class=\"ps9296 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">through a fatigue analysis based on the technical specification of the vessels, whereas for Wind Peak, the </span></div><div class=\"ps9302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">estimated useful life has been determined based on an internal technical analysis, validated by an external </span></div><div class=\"ps9307 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">expert. The estimated useful life of these vessels depends on the initial delivery date. </span></div><div class=\"ps2992 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Prior to their acquisition, Wind Orca and Wind Osprey, had already been in use for </span><span class=\"f charStyle-c1b8f9f6 ps9367\">eight years</span><span class=\"f charStyle-c1b8f9f6 ps9368\">, therefore the </span></div><div class=\"ps2993 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">remaining useful life of these vessels is estimated at </span><span class=\"f charStyle-c1b8f9f6 ps9369\">17 years</span><span class=\"f charStyle-c1b8f9f6 ps9370\"> for all components except for the jacking </span></div><div class=\"ps2994 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">system and the main crane, which have a remaining useful life of </span><span class=\"f charStyle-c1b8f9f6 ps9371\">three years</span><span class=\"f charStyle-c1b8f9f6 ps9372\"> from the acquisition date. For </span></div><div class=\"ps3313 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Wind Scylla and Wind Zaratan, the remaining useful lives at the acquisition date were assessed to be </span><span class=\"f charStyle-c1b8f9f6 ps9373\">17</span><span class=\"f charStyle-c1b8f9f6 ps9374\"> and </span></div><div class=\"ps3314 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">14 years</span><span class=\"f charStyle-c1b8f9f6 ps9375\"> respectively, and all components are assigned the same useful life. Hull and steel components have </span></div><div class=\"ps3315 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">a salvage value of up to</span><span class=\"f charStyle-c1b8f9f6 ps9376\"> </span><span class=\"f charStyle-c1b8f9f6 ps9377\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9378\"> </span><span class=\"f charStyle-c1b8f9f6 ps9379\">15\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9380\"> per vessel at the end of their useful lives. Both the salvage value and </span></div><div class=\"ps3316 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">the residual value are estimated as the lightweight tonnage of each vessel multiplied by the scrap value per </span></div><div class=\"ps3317 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">tonne. Depreciation is based on costs less the estimated residual value.</span></div><div class=\"ps3120 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Further information is provided in Note 2.4, Material accounting judgements, estimates and assumptions, in </span></div><div class=\"ps3121 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">relation to vessels acquired through the business combination.</span></div><div class=\"ps3128 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The residual value, useful life, and methods of depreciation of property, plant, and equipment are reviewed </span></div><div class=\"ps3129 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">at each financial year end and adjusted accordingly, if appropriate.</span></div><div class=\"ps9381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Borrowing costs<span id=\"i6256ae5b87dc48b2a1ee275c61305707\"></span></span></div><div class=\"ps9382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Borrowing costs are capitalised in accordance with IAS 23, where borrowing costs directly attributable to the </span></div><div class=\"ps9383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">construction of assets are capitalised until the asset is substantially ready for its intended use. Borrowing </span></div><div class=\"ps9384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">costs consist of interest and other costs incurred by the Group incurs in connection with the borrowing of </span></div><div class=\"ps9385 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">funds, including guarantee fees provided by related parties.</span></div><div class=\"ps9386 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Impairment of non-financial assets <span id=\"ied66e0bde3da4c348bdf3ba8c64c7cb7\"></span></span></div><div class=\"ps9387 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Property, plant and equipment and right-of-use assets are tested for impairment whenever there is </span></div><div class=\"ps9388 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">objective evidence or an indication that these assets may be impaired. Refer to note 12 for further </span></div><div class=\"ps7937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">information impairment testing.</span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Accounting policies<span id=\"i5b93fa0e4eeb499581f0d02dbf58f2fb\"></span></span></div><div class=\"ps8676 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Right-of-Use Assets <span id=\"if3e7eb2c164547ba99ae198c39355d35\"></span></span></div><div class=\"ps8677 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The Group recognises a right-of-use asset and lease liability at the date on which the underlying asset is </span></div><div class=\"ps8678 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">made available for use. Right-of-use assets are measured at cost, which comprises the initial measurement </span></div><div class=\"ps8679 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">of the lease liability using an incremental borrowing rate adjusted for any lease payments made at or before </span></div><div class=\"ps8680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">the commencement date and any lease incentives received. Any initial direct costs that would not have been </span></div><div class=\"ps8701 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">incurred if the lease had not been obtained are included in to the carrying amount of the right-of-use </span></div><div class=\"ps9643 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">assets.</span></div><div class=\"ps8683 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The right-of-use asset is subsequently measured at cost, less any accumulated depreciation and impairment </span></div><div class=\"ps8684 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">losses, and adjusted for any remeasurement of the lease liability.</span></div><div class=\"ps3200 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Right-of-use assets are depreciated on a straight-line basis over the lease term.</span></div><div class=\"ps9644 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Right-of-use assets are tested for impairment whenever there is objective evidence or an indication that </span></div><div class=\"ps9645 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">these assets may be impaired. For further information regarding impairment testing. please refer to Note 13.</span></div><div class=\"ps9646 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Lease liabilities<span id=\"i906fb04c707e4a55b0265cca42759d6e\"></span></span></div><div class=\"ps2688 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">At the inception of a contract, the Group assesses whether the contract contains a lease. A contract contains </span></div><div class=\"ps2689 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">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=\"ps2690 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">consideration. Reassessment is required only when the terms and conditions of the contract are changed.</span></div><div class=\"ps6997 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">At the commencement date of the lease, the Group recognises lease liabilities measured at the present </span></div><div class=\"ps9296 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">value of lease payments to be made over the lease term. The lease payments include fixed payments </span></div><div class=\"ps9302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">(including in-substance fixed payments) less any lease incentives receivable, variable lease payments that </span></div><div class=\"ps9307 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">depend on an index or a rate, and amounts expected to be paid under residual value guarantees.</span></div><div class=\"ps2992 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Variable lease payments that do not depend on an index or a rate are recognised as expenses in the period </span></div><div class=\"ps2993 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">in which the event or condition that triggers the payment occurs. Utilisation based lease fees are classified <span class=\"f ps40\"> </span></span></div><div class=\"ps2994 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">as variable lease payments.</span></div><div class=\"ps2995 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the </span></div><div class=\"ps2996 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">lease commencement date, as the interest rate implicit in the lease is not readily determinable. After the </span></div><div class=\"ps2997 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">commencement date, the carrying amount of lease liabilities is increased to reflect the accretion of interest </span></div><div class=\"ps2998 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">and reduced by lease payments made.</span></div><div class=\"ps2999 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the </span></div><div class=\"ps3000 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an </span></div><div class=\"ps3127 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">index or rate used to determine such lease payments) or a change in the assessment of an option to </span></div><div class=\"ps3128 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">purchase the underlying asset.</span></div><div class=\"ps9651 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Short-term and low-value leases<span id=\"i47c0a14c77d249589203643c44fd375a\"></span></span></div><div class=\"ps9652 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group has elected not to recognise right-of-use assets and lease liabilities for short-term leases with </span></div><div class=\"ps9382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">lease terms of </span><span class=\"f charStyle-c1b8f9f6 ps7528\">twelve months</span><span class=\"f charStyle-c1b8f9f6 ps9653\"> or less, and for low-value leases. Lease payments relating to these leases are </span></div><div class=\"ps9383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">expensed to profit or loss on a straight-line basis over the lease term. Short-term and low-value leases </span></div><div class=\"ps9384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">include cars, coffee machines, office premises and AV equipment.</span></div><div class=\"ps1734 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Accounting policies</span></div><div class=\"ps2480 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Inventories are carried at the lower of cost and net realisable value. Cost is determined using the first-in, </span></div><div class=\"ps1736 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">first-out basis. Net realisable value is the estimated selling price in the ordinary course of business, less </span></div><div class=\"ps1737 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">applicable variable selling expenses. Inventories mainly comprise fuel and oil. </span></div><div class=\"ps9787 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies<span id=\"id45d7b41ad8e457a85cd27d16fcb0747\"></span></span></div><div class=\"ps9788 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Financial assets<span id=\"i84d16ac46774406bb2607018955ce9e3\"></span></span></div><div class=\"ps9789 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The classification of financial assets depends on the Group\u2019s business model for managing the financial </span></div><div class=\"ps9790 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">assets as well as the contractual terms of the cash flows of the respective financial assets.</span></div><div class=\"ps3391 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">(1)<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1762\">At initial recognition: the Group measures a financial asset at fair value, plus, in the case of a </span></div><div class=\"ps3393 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">financial asset not measured at fair value through profit or loss, transaction costs that are directly </span></div><div class=\"ps3394 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">attributable to the acquisition of the financial assets. Transaction costs of financial assets carried at </span></div><div class=\"ps3395 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">fair value through profit or loss are recognised as an expense in profit or loss.</span></div><div class=\"ps2689 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">(1i)<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1762\">At subsequent measurement: the Group\u2019s financial assets mainly comprise cash and bank balances, </span></div><div class=\"ps2690 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">trade receivables and other current assets.</span></div><div class=\"ps9647 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Interest income from these financial assets is recognised using the effective interest rate method.</span></div><div class=\"ps2366 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group assesses on a forward-looking basis the expected credit losses associated with its financial assets </span></div><div class=\"ps2367 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">carried at amortised cost. For trade and other receivables, the Group applied the simplified approach </span></div><div class=\"ps2368 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">permitted by IFRS 9, which requires lifetime expected losses to be recognised from initial recognition of the </span></div><div class=\"ps2369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">receivables.</span></div><div class=\"ps9910 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies <span id=\"i77381d018b0949e7983fba488dc3e9f9\"></span></span></div><div class=\"ps4905 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Cash and cash equivalents consist of cash net of short-term bank overdrafts, as these are considered an </span></div><div class=\"ps4906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">integral part of the Group\u2019s cash management. Cash and cash equivalents are me</span><span class=\"f charStyle-c1b8f9f6 ps9911\">asured at amortised cost.</span></div><div class=\"ps7795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Accounting policies<span id=\"i0e2a59b7f3894ea2994a4e401dde6b73\"></span></span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Trade and other payables represent liabilities for goods and services provided to the Group before the end </span></div><div class=\"ps7161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">of the financial year, that remain unpaid. They are classified as current liabilities if payment is due within one </span></div><div class=\"ps7164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">year or less (within the normal operating cycle of the business, if longer). Otherwise, they are presented as </span></div><div class=\"ps7578 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">non-current liabilities. Trade and other payables are initially recognised at fair value, and subsequently </span></div><div class=\"ps7579 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">carried at amortised cost, using the effective interest method. </span></div><div class=\"ps7118 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">A provision is recognised for certain contracts with customers where the unavoidable costs of meeting the </span></div><div class=\"ps7119 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">performance obligations exceed the economic benefits expected to be received. These costs are expected </span></div><div class=\"ps7165 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">to be incurred in the following financial year.</span></div><div class=\"ps10187 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Accounting policies<span id=\"i698f23eb0d4f46b3907f168ecb3e0f79\"></span></span></div><div class=\"ps10188 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Ordinary shares are classified as equity. When there is a capital increase through the issuance of new shares, </span></div><div class=\"ps7754 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">these shares are recorded at their nominal value.</span></div><div class=\"ps376 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The s</span><span class=\"f charStyle-c1b8f9f6 ps10189\">hare premium reserve represents capital contributed by investors in excess of the nominal value of the </span></div><div class=\"ps398 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">shares issued, net of any incremental costs directly attributable to the issuance of new shares.</span></div><div class=\"ps378 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Own equity instruments that are reacquired (treasury shares) are recognised at cost and deducted from </span></div><div class=\"ps379 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">equity. No gain or loss is recognised in profit or loss on the purchase, sale, issue or cancellation of the </span></div><div class=\"ps380 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Group\u2019s own equity instruments. Any difference between the carrying amount and the consideration </span></div><div class=\"ps381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">received, upon reissuance, is recognised in equity.</span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies<span id=\"ic09a383af8ab4b488bf22a7990e12a85\"></span></span></div><div class=\"ps369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Derivative financial instruments are initially recognised at fair value on the date the derivative contract is </span></div><div class=\"ps370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">entered into and are subsequently remeasured at fair value through profit and loss. Derivatives are carried </span></div><div class=\"ps397 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">as financial assets, presented as derivative assets, when the fair value is positive and as financial liabilities, </span></div><div class=\"ps7437 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">presented as derivative liabilities, when the fair value is negative.</span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">At the inception of a hedge relationship, the Group formally designates and documents the hedge </span></div><div class=\"ps374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">relationship, including the risk management objective and strategy for undertaking the hedge.</span></div><div class=\"ps10310 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Changes in the fair value of derivative financial instruments designated as cash flow hedges are recognised </span></div><div class=\"ps10311 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">in other comprehensive income and presented under \u201cHedging reserves\u201d (equity). Where the expected </span></div><div class=\"ps377 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">future transactions result in the acquisition of non-financial assets, amounts deferred in equity are </span></div><div class=\"ps378 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">transferred from equity and included in the cost of the asset. Where expected future transactions result in </span></div><div class=\"ps379 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">income or expenses, amounts deferred under in equity are transferred from equity to the statement of </span></div><div class=\"ps380 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">profit and loss, in the same item as the hedged transaction, as a reclassification adjustment. In addition, the </span></div><div class=\"ps381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">entity may transfer the cumulative fair value changes recognised in equity upon derecognition of the </span></div><div class=\"ps400 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">hedged item. </span></div><div class=\"ps383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Changes in the fair value of derivative financial instruments not designated as hedges are recognised in the </span></div><div class=\"ps401 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">statement of profit and loss. Certain borrowing facilities when undrawn do not qualify for hedge </span></div><div class=\"ps402 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">accounting. Changes in the fair value of these derivative financial instruments are therefore recognised in </span></div><div class=\"ps403 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the statement of profit and loss under \u201cFinancial income\u201d or \u201cFinancial expenses\u201d for interest rate swaps. </span></div><div class=\"ps387 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The amount included in the hedging reserve is the lower, in absolute terms, of the cumulative fair value </span></div><div class=\"ps388 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">adjustment of the hedging instrument and the hedged item. Hedge ineffectiveness is recognised in the </span></div><div class=\"ps405 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">consolidated statement of profit and loss. Cost of hedging reserves include the time value of options. </span></div><div class=\"ps406 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">These costs are recognised separately in Other Comprehensive Income (OCI) and are amortised over the </span></div><div class=\"ps407 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">life of the hedging instrument, in accordance with the specific hedging relationship. If the hedge is </span></div><div class=\"ps408 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">discontinued, any unamortised cost of hedging is recognised immediately in profit or loss.</span></div><div class=\"ps11100 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies<span id=\"ia724b79896824364bb1ed0a2821fa1af\"></span></span></div><div class=\"ps7078 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Debt to credit institutions etc. is recognised at the time of borrowing </span></div><div class=\"ps7079 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">at fair value after deduction of directly attributable transaction costs. </span></div><div class=\"ps7080 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Subsequently, the financial liabilities are measured at amortised cost </span></div><div class=\"ps7081 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">using the \"effective interest method\", whereby the difference </span></div><div class=\"ps7082 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">between the proceeds and the nominal value is recognised in the </span></div><div class=\"ps293 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">statement of profit and loss under financial expenses over the loan </span></div><div class=\"ps294 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">period. </span></div><div class=\"ps7083 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">A financial liability is derecognised when the obligation under the </span></div><div class=\"ps7084 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">liability is discharged, cancelled or expires.</span></div><div class=\"ps11101 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">When an existing financial liability is replaced by another from the </span></div><div class=\"ps11102 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">same lender on substantially different terms, or when the terms of an </span></div><div class=\"ps7023 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">existing liability are substantially modified, such an exchange or </span></div><div class=\"ps7024 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">modification is treated as the derecognition of the original liability </span></div><div class=\"ps7025 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">and the recognition of a new liability.</span></div><div class=\"ps11103 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The difference in the respective carrying amounts of the original and </span></div><div class=\"ps11104 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the new financial liability is recognised in the statement of profit and </span></div><div class=\"ps7026 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">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-512": {
   "value": "<div class=\"ps6949 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">2.1. Basis for preparation<span id=\"if76a4f3284a441c188f583afb50f7d1a\"></span></span></div><div class=\"ps6950 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The consolidated financial statements included in this Annual Report </span></div><div class=\"ps6951 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">have been prepared in accordance with IFRS Accounting Standards </span></div><div class=\"ps6952 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">(IFRS) as issued by the International Accounting Standards Board </span></div><div class=\"ps6953 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">(IASB) and as endorsed by the EU, as well as further requirements in </span></div><div class=\"ps6954 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the Danish Financial Statements Act. </span></div><div class=\"ps6955 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The preparation of these consolidated financial statements in </span></div><div class=\"ps6956 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">conformity with IFRS requires management to exercise its judgement </span></div><div class=\"ps6957 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">in the process of applying the Company\u2019s accounting policies. It also </span></div><div class=\"ps6958 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">requires the use of certain critical accounting estimates and </span></div><div class=\"ps6959 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">assumptions. Areas involving a higher degree of judgement or </span></div><div class=\"ps6960 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">complexity, or areas where estimates and assumptions are significant </span></div><div class=\"ps6961 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">to the consolidated financial statements are further described in Note </span></div><div class=\"ps4918 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">2.4.</span></div><div class=\"ps6962 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The consolidated financial statements are presented in euros and all </span></div><div class=\"ps6963 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">values are rounded to the nearest thousand, except when otherwise </span></div><div class=\"ps4897 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">indicated.</span></div><div class=\"ps4898 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The accounting policies set out in the notes have been applied </span></div><div class=\"ps4899 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">consistently in the preparation of the consolidated financial </span></div><div class=\"ps4900 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">statements for all the years presented unless stated otherwise below. </span></div><div class=\"ps6949 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps879\">Comparative figures<span id=\"i4a39e38604ab435d8480997ed006d9c5\"></span></span></div><div class=\"ps6950 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">In December 2023, Cadeler and Eneti merged, and from this point in </span></div><div class=\"ps6951 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">time the consolidated figures comprised Cadeler A/S and its </span></div><div class=\"ps6952 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">subsidiaries and Eneti and its subsidiaries (which are wholly owned by </span></div><div class=\"ps6953 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">the Group). Therefore the activity of the Group is not fully </span></div><div class=\"ps6954 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">comparable between </span><span class=\"f charStyle-c1b8f9f6 ps6964\">2025</span><span class=\"f charStyle-c1b8f9f6 ps6965\">, </span><span class=\"f charStyle-c1b8f9f6 ps6966\">2024</span><span class=\"f charStyle-c1b8f9f6 ps6967\"> and </span><span class=\"f charStyle-c1b8f9f6 ps6968\">2023</span><span class=\"f charStyle-c1b8f9f6 ps6969\">. For further information </span></div><div class=\"ps6971 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">on the subsidiaries of Cadeler A/S please refer to </span><span class=\"f charStyle-c1b8f9f6 ps6970\">Note 29.</span></div><div class=\"ps3425 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps879\">Materiality<span id=\"i1609999e90db47ef9260fce7661dd991\"></span></span></div><div class=\"ps3426 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">Our Annual Report is structured around the principle of materiality, </span></div><div class=\"ps2464 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">focusing on information that holds relevance for the users of the </span></div><div class=\"ps2465 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">consolidated financial statements. These consolidated financial </span></div><div class=\"ps2466 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">statements encompass numerous transactions, which are grouped </span></div><div class=\"ps2467 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">into categories based on their nature or function. These categories </span></div><div class=\"ps2468 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">are then presented in the consolidated financial statements as </span></div><div class=\"ps4552 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">required by IFRS. When individual items are deemed immaterial, they </span></div><div class=\"ps5089 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">are combined with other similar items in either the consolidated </span></div><div class=\"ps1002 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">financial statements or the accompanying notes.</span></div><div class=\"ps1003 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">In line with IFRS guidelines we include the necessary disclosures, </span></div><div class=\"ps4553 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">unless the information is considered immaterial to the economic </span></div><div class=\"ps2559 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">decision-making of the users or is not applicable in the context of the </span></div><div class=\"ps2560 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">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-511": {
   "value": "<div class=\"ps6949 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">2.1. Basis for preparation<span id=\"if76a4f3284a441c188f583afb50f7d1a\"></span></span></div><div class=\"ps6950 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The consolidated financial statements included in this Annual Report </span></div><div class=\"ps6951 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">have been prepared in accordance with IFRS Accounting Standards </span></div><div class=\"ps6952 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">(IFRS) as issued by the International Accounting Standards Board </span></div><div class=\"ps6953 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">(IASB) and as endorsed by the EU, as well as further requirements in </span></div><div class=\"ps6954 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the Danish Financial Statements Act. </span></div><div class=\"ps6955 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The preparation of these consolidated financial statements in </span></div><div class=\"ps6956 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">conformity with IFRS requires management to exercise its judgement </span></div><div class=\"ps6957 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">in the process of applying the Company\u2019s accounting policies. It also </span></div><div class=\"ps6958 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">requires the use of certain critical accounting estimates and </span></div><div class=\"ps6959 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">assumptions. Areas involving a higher degree of judgement or </span></div><div class=\"ps6960 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">complexity, or areas where estimates and assumptions are significant </span></div><div class=\"ps6961 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">to the consolidated financial statements are further described in Note </span></div><div class=\"ps4918 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">2.4.</span></div><div class=\"ps6962 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The consolidated financial statements are presented in euros and all </span></div><div class=\"ps6963 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">values are rounded to the nearest thousand, except when otherwise </span></div><div class=\"ps4897 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">indicated.</span></div><div class=\"ps4898 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The accounting policies set out in the notes have been applied </span></div><div class=\"ps4899 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">consistently in the preparation of the consolidated financial </span></div><div class=\"ps4900 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">statements for all the years presented unless stated otherwise below. </span></div><div class=\"ps6949 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps879\">Comparative figures<span id=\"i4a39e38604ab435d8480997ed006d9c5\"></span></span></div><div class=\"ps6950 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">In December 2023, Cadeler and Eneti merged, and from this point in </span></div><div class=\"ps6951 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">time the consolidated figures comprised Cadeler A/S and its </span></div><div class=\"ps6952 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">subsidiaries and Eneti and its subsidiaries (which are wholly owned by </span></div><div class=\"ps6953 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">the Group). Therefore the activity of the Group is not fully </span></div><div class=\"ps6954 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">comparable between </span><span class=\"f charStyle-c1b8f9f6 ps6964\">2025</span><span class=\"f charStyle-c1b8f9f6 ps6965\">, </span><span class=\"f charStyle-c1b8f9f6 ps6966\">2024</span><span class=\"f charStyle-c1b8f9f6 ps6967\"> and </span><span class=\"f charStyle-c1b8f9f6 ps6968\">2023</span><span class=\"f charStyle-c1b8f9f6 ps6969\">. For further information </span></div><div class=\"ps6971 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">on the subsidiaries of Cadeler A/S please refer to </span><span class=\"f charStyle-c1b8f9f6 ps6970\">Note 29.</span></div><div class=\"ps3425 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps879\">Materiality<span id=\"i1609999e90db47ef9260fce7661dd991\"></span></span></div><div class=\"ps3426 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">Our Annual Report is structured around the principle of materiality, </span></div><div class=\"ps2464 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">focusing on information that holds relevance for the users of the </span></div><div class=\"ps2465 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">consolidated financial statements. These consolidated financial </span></div><div class=\"ps2466 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">statements encompass numerous transactions, which are grouped </span></div><div class=\"ps2467 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">into categories based on their nature or function. These categories </span></div><div class=\"ps2468 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">are then presented in the consolidated financial statements as </span></div><div class=\"ps4552 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">required by IFRS. When individual items are deemed immaterial, they </span></div><div class=\"ps5089 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">are combined with other similar items in either the consolidated </span></div><div class=\"ps1002 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">financial statements or the accompanying notes.</span></div><div class=\"ps1003 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">In line with IFRS guidelines we include the necessary disclosures, </span></div><div class=\"ps4553 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">unless the information is considered immaterial to the economic </span></div><div class=\"ps2559 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">decision-making of the users or is not applicable in the context of the </span></div><div class=\"ps2560 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">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-513": {
   "value": "<div class=\"ps6949 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps916\">Going concern assessment<span id=\"i6bf4fe85f08a4abb89ed9ee6fc4fbbe1\"></span></span></div><div class=\"ps6950 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">The Company\u2019s Board of Directors and Executive Directors, have at </span></div><div class=\"ps6951 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">the time of approving the consolidated financial statements, assessed </span></div><div class=\"ps6952 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">that the Group has adequate resources to continue as a going </span></div><div class=\"ps6953 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">concern for at least </span><span class=\"f charStyle-c1b8f9f6 ps6972\">12 months</span><span class=\"f charStyle-c1b8f9f6 ps6973\"> after the balance sheet date. </span></div><div class=\"ps6974 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">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-514": {
   "value": "<div class=\"ps7007 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Principles of consolidation<span id=\"ie2ddad2eb15049f783631ee74559a9bc\"></span></span></div><div class=\"ps7008 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The consolidated financial statements include the Parent Company, </span></div><div class=\"ps7009 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Cadeler A/S, and all enterprises over which the Parent Company has </span></div><div class=\"ps7010 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">control. Control of an enterprise exists when the Company has </span></div><div class=\"ps7011 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">exposure, or rights to, variable returns from its involvement with the </span></div><div class=\"ps3194 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">enterprise and has the ability to control those returns through its </span></div><div class=\"ps7012 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">power over the enterprise. Accordingly, the consolidated financial </span></div><div class=\"ps7013 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">statements of the Group are composed of the financial statements of </span></div><div class=\"ps7014 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the Company Cadeler A/S and its subsidiaries (which are wholly </span></div><div class=\"ps7015 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">owned by the Parent Company, Cadeler A/S). </span></div><div class=\"ps7016 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">All intra-group assets and liabilities, equity, income, expenses and </span></div><div class=\"ps7017 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">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-516": {
   "value": "<div class=\"ps7018 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Currency translation <span id=\"ifc610dea6b014f188995bddfabe66dbe\"></span></span></div><div class=\"ps7023 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The financial statements are presented in eur</span><span class=\"f charStyle-c1b8f9f6 ps7019\">o (</span><span class=\"f charStyle-c1b8f9f6 ps7020\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7021\">), w</span><span class=\"f charStyle-c1b8f9f6 ps7022\">hich is also </span></div><div class=\"ps7024 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the functional currency of the parent company. For each entity in the </span></div><div class=\"ps7025 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Group, the Group determines the functional currency and items </span></div><div class=\"ps302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">included in the financial statements of each entity are measured </span></div><div class=\"ps303 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">using that functional currency. </span></div><div class=\"ps7026 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">As of 1 January 2025, all entities of the former Eneti Group have </span></div><div class=\"ps305 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">changed their functional currency from USD to EUR. The change is </span></div><div class=\"ps306 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">driven by Cadeler\u2019s acquisition of the former Eneti Group at the end </span></div><div class=\"ps7027 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">of 2023 followed by changes to the financing, organisation and </span></div><div class=\"ps7028 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">activities whereby it is Management\u2019s assessment that the primary </span></div><div class=\"ps2570 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">economic environment in which each of the entities operates has </span></div><div class=\"ps7029 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">changed to be mainly denominated in EUR. Accordingly, </span></div><div class=\"ps3231 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">management has determined that EUR is the new functional currency </span></div><div class=\"ps7030 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">that will most faithfully reflect the underlying transactions, events and </span></div><div class=\"ps7032 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">conditions relevant to the entities follow</span><span class=\"f charStyle-c1b8f9f6 ps7031\">ing the acquisition. The </span></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">amount recognised in other comprehensive income is not reclassified </span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">to profit or loss until disposal of the operation.</span></div><div class=\"ps418 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">As some of the Group entities are conducting business in an </span></div><div class=\"ps419 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">international environment, management has applied judgement to </span></div><div class=\"ps420 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">determine the primary economic environment considering that the </span></div><div class=\"ps421 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">underlying transactions, events and conditions.</span></div><div class=\"ps422 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">Transactions in a currency other than the </span><span class=\"f charStyle-c1b8f9f6 ps7035\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7036\"> (\u201cforeign currency\u201d) are </span></div><div class=\"ps423 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">translated into </span><span class=\"f charStyle-c1b8f9f6 ps7037\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7038\"> using the exchange rates at the dates of the </span></div><div class=\"ps424 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">transactions. Foreign exchange differences resulting from the </span></div><div class=\"ps5469 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">settlement of such transactions and from the translation of monetary </span></div><div class=\"ps5470 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">assets and liabilities denominated in foreign currencies at the closing </span></div><div class=\"ps5471 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">rates at the balance sheet are recognised in profit or loss. Non-</span></div><div class=\"ps7039 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">monetary items measured at fair values in foreign currencies are </span></div><div class=\"ps7040 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">translated using the exchange rates at the date when the fair values </span></div><div class=\"ps7041 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">are determined. </span></div><div class=\"ps5475 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">Foreign exchange gains and losses impacting profit or loss are </span></div><div class=\"ps5476 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">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-515": {
   "value": "<div class=\"ps7018 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Currency translation <span id=\"ifc610dea6b014f188995bddfabe66dbe\"></span></span></div><div class=\"ps7023 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The financial statements are presented in eur</span><span class=\"f charStyle-c1b8f9f6 ps7019\">o (</span><span class=\"f charStyle-c1b8f9f6 ps7020\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7021\">), w</span><span class=\"f charStyle-c1b8f9f6 ps7022\">hich is also </span></div><div class=\"ps7024 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the functional currency of the parent company. For each entity in the </span></div><div class=\"ps7025 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Group, the Group determines the functional currency and items </span></div><div class=\"ps302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">included in the financial statements of each entity are measured </span></div><div class=\"ps303 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">using that functional currency. </span></div><div class=\"ps7026 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">As of 1 January 2025, all entities of the former Eneti Group have </span></div><div class=\"ps305 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">changed their functional currency from USD to EUR. The change is </span></div><div class=\"ps306 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">driven by Cadeler\u2019s acquisition of the former Eneti Group at the end </span></div><div class=\"ps7027 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">of 2023 followed by changes to the financing, organisation and </span></div><div class=\"ps7028 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">activities whereby it is Management\u2019s assessment that the primary </span></div><div class=\"ps2570 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">economic environment in which each of the entities operates has </span></div><div class=\"ps7029 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">changed to be mainly denominated in EUR. Accordingly, </span></div><div class=\"ps3231 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">management has determined that EUR is the new functional currency </span></div><div class=\"ps7030 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">that will most faithfully reflect the underlying transactions, events and </span></div><div class=\"ps7032 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">conditions relevant to the entities follow</span><span class=\"f charStyle-c1b8f9f6 ps7031\">ing the acquisition. The </span></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">amount recognised in other comprehensive income is not reclassified </span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">to profit or loss until disposal of the operation.</span></div><div class=\"ps418 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">As some of the Group entities are conducting business in an </span></div><div class=\"ps419 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">international environment, management has applied judgement to </span></div><div class=\"ps420 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">determine the primary economic environment considering that the </span></div><div class=\"ps421 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">underlying transactions, events and conditions.</span></div><div class=\"ps422 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">Transactions in a currency other than the </span><span class=\"f charStyle-c1b8f9f6 ps7035\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7036\"> (\u201cforeign currency\u201d) are </span></div><div class=\"ps423 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">translated into </span><span class=\"f charStyle-c1b8f9f6 ps7037\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7038\"> using the exchange rates at the dates of the </span></div><div class=\"ps424 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">transactions. Foreign exchange differences resulting from the </span></div><div class=\"ps5469 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">settlement of such transactions and from the translation of monetary </span></div><div class=\"ps5470 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">assets and liabilities denominated in foreign currencies at the closing </span></div><div class=\"ps5471 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">rates at the balance sheet are recognised in profit or loss. Non-</span></div><div class=\"ps7039 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">monetary items measured at fair values in foreign currencies are </span></div><div class=\"ps7040 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">translated using the exchange rates at the date when the fair values </span></div><div class=\"ps7041 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">are determined. </span></div><div class=\"ps5475 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">Foreign exchange gains and losses impacting profit or loss are </span></div><div class=\"ps5476 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">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-518": {
   "value": "<div class=\"ps7007 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps916\">Other reserves and retained earnings<span id=\"i47faf81da68647fa949a1ce56f94e32c\"></span></span></div><div class=\"ps7008 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Other reserves include hedging reserves, cost of hedging reserves, </span></div><div class=\"ps7009 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">and foreign currency translation reserves. Hedging reserves reflect </span></div><div class=\"ps7010 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">the changes in the fair value of derivative financial instruments </span></div><div class=\"ps7011 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">designated as cash flow hedges. Cost of hedging reserves include the </span></div><div class=\"ps3194 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">time value of options and other costs associated with hedging </span></div><div class=\"ps7012 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">activities. Foreign currency translation reserves include the cumulative </span></div><div class=\"ps7013 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">translation adjustments (CTA), which arise from the conversion of the </span></div><div class=\"ps7014 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">financial statements of foreign operations into the reporting currency. </span></div><div class=\"ps7015 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Retained earnings include results from previous periods, changes to </span></div><div class=\"ps7043 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">equity arising from business combination purchase price, and share-</span></div><div class=\"ps7044 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">based payments. </span></div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 22</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Issued Share Capital<span id=\"i86eed5e387814478a4c5bb5ec1bf3d73\"></span></span></div><div class=\"ps7684 ss0\"><div class=\"ss193 ws0 ps67\"><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=\"ps37 ss729\"><div><div class=\"ps8191 ss181\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10137 ss731\"><div><div class=\"ps5628 ss730\"><span class=\"f charStyle-054ead99 ps10135\">No. of shares (in <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss730\"><span class=\"f charStyle-054ead99 ps10136\">thousands)</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10139 ss731\"><div><div class=\"ps5627 ss730\"><span class=\"f charStyle-281247bf ps10138\">Total<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps1987 ss729\"><div><div class=\"ps2702 ss181\"><span class=\"f charStyle-1bac868e ps630\">Beginning of financial year 2023<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10141 ss731\"><div><div class=\"ps2702 ss730\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:63.42pt\"></span></span><span class=\"ps10140\">197,600</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10143 ss731\"><div><div class=\"ps2702 ss730\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:68.27pt\"></span></span><span class=\"ps10142\">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=\"ps7536 ss729\"><div><div class=\"ps2702 ss181\"><span class=\"f charStyle-1bac868e ps630\">First issue for capital increase 2023<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10144 ss731\"><div><div class=\"ps2702 ss730\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:63.42pt\"></span></span><span class=\"ps10140\">113,809</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10145 ss731\"><div><div class=\"ps2702 ss730\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:68.27pt\"></span></span><span class=\"ps10142\">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=\"ps7540 ss729\"><div><div class=\"ps2702 ss181\"><span class=\"f charStyle-b07b4361 ps39\">End of financial year 2023<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10147 ss731\"><div><div class=\"ps2702 ss730\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:61.02pt\"></span></span><span class=\"ps10146\">311,409</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10149 ss731\"><div><div class=\"ps2702 ss730\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:66.19pt\"></span></span><span class=\"ps10148\">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=\"ps2306 ss729\"><div><div class=\"ps2702 ss181\"><span class=\"f charStyle-1bac868e ps630\">First issue for capital increase 2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10150 ss731\"><div><div class=\"ps2702 ss730\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:68.27pt\"></span></span><span class=\"ps10142\">39,520</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10152 ss731\"><div><div class=\"ps2702 ss730\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:73.12pt\"></span></span><span class=\"ps10151\">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=\"ps492 ss729\"><div><div class=\"ps2702 ss181\"><span class=\"f charStyle-1bac868e ps630\">Second issue for capital increase 2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10154 ss731\"><div><div class=\"ps2702 ss730\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:84.77pt\"></span></span><span class=\"ps10153\">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=\"ps10156 ss731\"><div><div class=\"ps2702 ss730\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:89.62pt\"></span></span><span class=\"ps10155\">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=\"ps1041 ss729\"><div><div class=\"ps2702 ss181\"><span class=\"f charStyle-b07b4361 ps39\">End of financial year 2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10157 ss731\"><div><div class=\"ps2702 ss730\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:61.02pt\"></span></span><span class=\"ps10146\">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=\"ps10158 ss731\"><div><div class=\"ps2702 ss730\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:66.19pt\"></span></span><span class=\"ps10148\">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=\"ps63 ss729\"><div><div class=\"ps2702 ss181\"><span class=\"f charStyle-b07b4361 ps39\">End of financial year 2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10159 ss731\"><div><div class=\"ps2702 ss730\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:61.02pt\"></span></span><span class=\"ps10146\">350,957</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10160 ss731\"><div><div class=\"ps2702 ss730\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:66.19pt\"></span></span><span class=\"ps10148\">47,144</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps5429 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">As of 31 December 2025, the Group had share capital amounting to DKK </span><span class=\"f charStyle-c1b8f9f6 ps10161\">350,958\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps10162\">, eq</span><span class=\"f charStyle-c1b8f9f6 ps10163\">ual to </span><span class=\"f charStyle-c1b8f9f6 ps10164\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10165\"> </span></div><div class=\"ps3617 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">47,144 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10166\">, consisting of </span><span class=\"f charStyle-c1b8f9f6 ps10167\">350,957,583</span><span class=\"f charStyle-c1b8f9f6 ps10168\"> shares of nominal </span><span class=\"f charStyle-c1b8f9f6 ps10169\">DKK1</span><span class=\"f charStyle-c1b8f9f6 ps8064\"> each. </span></div><div class=\"ps10170 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">All shares have equal rights. </span></div><div class=\"ps7795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Treasury shares<span id=\"ic734e3b709c44435ba1c624ab153f482\"></span></span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">On 30 May </span><span class=\"f charStyle-c1b8f9f6 ps10172\">2025</span><span class=\"f charStyle-c1b8f9f6 ps10173\">, the Company completed a share buy-back program to fulfil share-based incentive </span></div><div class=\"ps7161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">obligations resulting in the repurchase of </span><span class=\"f charStyle-c1b8f9f6 ps10174\">395,200</span><span class=\"f charStyle-c1b8f9f6 ps10175\"> shares of a nominal price of DKK </span><span class=\"f charStyle-c1b8f9f6 ps10176\">1</span><span class=\"f charStyle-c1b8f9f6 ps10177\"> each at an average </span></div><div class=\"ps7164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">price of NOK </span><span class=\"f charStyle-c1b8f9f6 ps10178\">49.90</span><span class=\"f charStyle-c1b8f9f6 ps10179\">, corresponding to an aggregate amount of </span><span class=\"f charStyle-c1b8f9f6 ps10180\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10181\"> </span><span class=\"f charStyle-c1b8f9f6 ps10182\">1.7\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10183\">, including commission. As of </span></div><div class=\"ps7578 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10184\">, the Company holds </span><span class=\"f charStyle-c1b8f9f6 ps10185\">89,992</span><span class=\"f charStyle-c1b8f9f6 ps10186\"> treasury shares. </span></div><div class=\"ps10187 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Accounting policies<span id=\"i698f23eb0d4f46b3907f168ecb3e0f79\"></span></span></div><div class=\"ps10188 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Ordinary shares are classified as equity. When there is a capital increase through the issuance of new shares, </span></div><div class=\"ps7754 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">these shares are recorded at their nominal value.</span></div><div class=\"ps376 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The s</span><span class=\"f charStyle-c1b8f9f6 ps10189\">hare premium reserve represents capital contributed by investors in excess of the nominal value of the </span></div><div class=\"ps398 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">shares issued, net of any incremental costs directly attributable to the issuance of new shares.</span></div><div class=\"ps378 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Own equity instruments that are reacquired (treasury shares) are recognised at cost and deducted from </span></div><div class=\"ps379 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">equity. No gain or loss is recognised in profit or loss on the purchase, sale, issue or cancellation of the </span></div><div class=\"ps380 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Group\u2019s own equity instruments. Any difference between the carrying amount and the consideration </span></div><div class=\"ps381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">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-517": {
   "value": "<div class=\"ps7007 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps916\">Other reserves and retained earnings<span id=\"i47faf81da68647fa949a1ce56f94e32c\"></span></span></div><div class=\"ps7008 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Other reserves include hedging reserves, cost of hedging reserves, </span></div><div class=\"ps7009 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">and foreign currency translation reserves. Hedging reserves reflect </span></div><div class=\"ps7010 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">the changes in the fair value of derivative financial instruments </span></div><div class=\"ps7011 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">designated as cash flow hedges. Cost of hedging reserves include the </span></div><div class=\"ps3194 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">time value of options and other costs associated with hedging </span></div><div class=\"ps7012 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">activities. Foreign currency translation reserves include the cumulative </span></div><div class=\"ps7013 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">translation adjustments (CTA), which arise from the conversion of the </span></div><div class=\"ps7014 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">financial statements of foreign operations into the reporting currency. </span></div><div class=\"ps7015 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Retained earnings include results from previous periods, changes to </span></div><div class=\"ps7043 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">equity arising from business combination purchase price, and share-</span></div><div class=\"ps7044 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">based payments. </span></div><div class=\"ps8170 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps916\">Equity-settled transactions<span id=\"ide32f3e76d934c0fb38aac612e53c8e7\"></span></span></div><div class=\"ps8171 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">The cost of equity-settled transactions is determined by the fair value </span></div><div class=\"ps8172 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">at the date on which the grant is made using an appropriate </span></div><div class=\"ps8173 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">valuation model. That cost is recognised as employee benefits </span></div><div class=\"ps4224 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">expenses, together with a corresponding increase in equity (retained </span></div><div class=\"ps4225 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">earnings), over the period in which the service and, where applicable, </span></div><div class=\"ps4226 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">the performance conditions are fulfilled (the vesting period). The </span></div><div class=\"ps4227 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">cumulative expense recognised for equity-settled transactions at each </span></div><div class=\"ps4228 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">reporting date until the vesting date reflects both the extent to which </span></div><div class=\"ps3255 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">the vesting period has expired and the Group\u2019s best estimate of the </span></div><div class=\"ps8174 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">number of equity instruments that will ultimately vest. The expense or </span></div><div class=\"ps8175 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">credit in the statement of profit or loss for a period represents the </span></div><div class=\"ps8176 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">movement in cumulative expense recognised at the beginning and </span></div><div class=\"ps1941 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">end of that period.</span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies<span id=\"ic09a383af8ab4b488bf22a7990e12a85\"></span></span></div><div class=\"ps369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Derivative financial instruments are initially recognised at fair value on the date the derivative contract is </span></div><div class=\"ps370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">entered into and are subsequently remeasured at fair value through profit and loss. Derivatives are carried </span></div><div class=\"ps397 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">as financial assets, presented as derivative assets, when the fair value is positive and as financial liabilities, </span></div><div class=\"ps7437 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">presented as derivative liabilities, when the fair value is negative.</span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">At the inception of a hedge relationship, the Group formally designates and documents the hedge </span></div><div class=\"ps374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">relationship, including the risk management objective and strategy for undertaking the hedge.</span></div><div class=\"ps10310 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Changes in the fair value of derivative financial instruments designated as cash flow hedges are recognised </span></div><div class=\"ps10311 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">in other comprehensive income and presented under \u201cHedging reserves\u201d (equity). Where the expected </span></div><div class=\"ps377 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">future transactions result in the acquisition of non-financial assets, amounts deferred in equity are </span></div><div class=\"ps378 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">transferred from equity and included in the cost of the asset. Where expected future transactions result in </span></div><div class=\"ps379 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">income or expenses, amounts deferred under in equity are transferred from equity to the statement of </span></div><div class=\"ps380 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">profit and loss, in the same item as the hedged transaction, as a reclassification adjustment. In addition, the </span></div><div class=\"ps381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">entity may transfer the cumulative fair value changes recognised in equity upon derecognition of the </span></div><div class=\"ps400 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">hedged item. </span></div><div class=\"ps383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Changes in the fair value of derivative financial instruments not designated as hedges are recognised in the </span></div><div class=\"ps401 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">statement of profit and loss. Certain borrowing facilities when undrawn do not qualify for hedge </span></div><div class=\"ps402 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">accounting. Changes in the fair value of these derivative financial instruments are therefore recognised in </span></div><div class=\"ps403 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the statement of profit and loss under \u201cFinancial income\u201d or \u201cFinancial expenses\u201d for interest rate swaps. </span></div><div class=\"ps387 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The amount included in the hedging reserve is the lower, in absolute terms, of the cumulative fair value </span></div><div class=\"ps388 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">adjustment of the hedging instrument and the hedged item. Hedge ineffectiveness is recognised in the </span></div><div class=\"ps405 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">consolidated statement of profit and loss. Cost of hedging reserves include the time value of options. </span></div><div class=\"ps406 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">These costs are recognised separately in Other Comprehensive Income (OCI) and are amortised over the </span></div><div class=\"ps407 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">life of the hedging instrument, in accordance with the specific hedging relationship. If the hedge is </span></div><div class=\"ps408 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">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-519": {
   "value": "<div class=\"ps7045 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps916\">Statement of cash flows <span id=\"i0a872444d31d47f6aa58aca17f10afe8\"></span></span></div><div class=\"ps298 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">The statement of cash flows shows the Group\u2019s cash flows for the </span></div><div class=\"ps299 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">year, classified as operating, investing and financing activities, net </span></div><div class=\"ps300 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">changes for the year in cash and cash equivalents as well as the </span></div><div class=\"ps301 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Group\u2019s cash and cash equivalents at the beginning and end of the </span></div><div class=\"ps7046 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">year. </span></div><div class=\"ps303 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Positive amounts indicate cash inflows, whereas negative amounts </span></div><div class=\"ps304 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">indicate cash outflows.</span></div><div class=\"ps7007 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Cash flows from operating activities<span id=\"i35a919a73302405580135f59817a44f6\"></span></span></div><div class=\"ps7008 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Cash flows from operating activities are stated as the profit or loss for </span></div><div class=\"ps7009 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the year adjusted for non-cash operating items such as depreciation, </span></div><div class=\"ps7010 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">changes in working capital and income tax paid or received. Working </span></div><div class=\"ps7011 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">capital includes current assets less current liabilities, excluding cash </span></div><div class=\"ps3194 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">and cash equivalents and interest income.</span></div><div class=\"ps7048 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Cash flows from investing activities <span id=\"i23afe452205241b5a13a1c66b93da7e0\"></span></span></div><div class=\"ps7049 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Cash flows from investing activities comprise cash flows from the </span></div><div class=\"ps7050 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">acquisition and sale of non-current assets and businesses. Cash flows </span></div><div class=\"ps7051 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">from restricted cash are presented within investing activities.</span></div><div class=\"ps7052 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Cash flows from financing activities<span id=\"if80fd287c2974d04bd49f278b6eeff03\"></span></span></div><div class=\"ps7053 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Cash flows from financing activities comprise cash flows from </span></div><div class=\"ps7054 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">instalments on lease liabilities, and interest paid as well as proceeds </span></div><div class=\"ps69 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">from the issue of shares, restricted cash, treasury shares and debt as </span></div><div class=\"ps7055 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">well as the prepayment of borrowings.</span></div><div class=\"ps9910 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies <span id=\"i77381d018b0949e7983fba488dc3e9f9\"></span></span></div><div class=\"ps4905 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Cash and cash equivalents consist of cash net of short-term bank overdrafts, as these are considered an </span></div><div class=\"ps4906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">integral part of the Group\u2019s cash management. Cash and cash equivalents are me</span><span class=\"f charStyle-c1b8f9f6 ps9911\">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-520": {
   "value": "<div class=\"ps7056 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">2.3. Changes in accounting policies and disclosures<span id=\"id07e8b1419b341b58752aad8d7866e6e\"></span></span></div><div class=\"ps2865 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps183\">2.3.1. New accounting policies and disclosures</span></div><div class=\"ps2960 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group has adopted standards and interpretations effective as of </span></div><div class=\"ps2961 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">1\u00a0January 2025</span><span class=\"f charStyle-c1b8f9f6 ps7057\">. Adoption of new, amended standards and </span></div><div class=\"ps2962 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">interpretations had no material impact on the Group\u2019s consolidated </span></div><div class=\"ps2963 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">financial statements.</span></div><div class=\"ps7058 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps183\">2.3.2. Standards issued but not yet effective </span></div><div class=\"ps7059 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">IASB has issued several new and amended accounting standards </span></div><div class=\"ps7060 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">(IFRS) and interpretations (IFRS IC). The Group has assessed these </span></div><div class=\"ps2370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">new and amended accounting standards and interpretations, and </span></div><div class=\"ps7061 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">does not anticipate any of them to have any material impact on </span></div><div class=\"ps7062 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">recognition or measurement in the consolidated financial statements.</span></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">IFRS 18 Presentation and Disclosure in Financial Statements, which </span></div><div class=\"ps7063 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">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 ps879\">beginning on or after 1 January 2027 and replaces IAS 1 Presentation </span></div><div class=\"ps7064 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">of Financial Statements. </span></div><div class=\"ps3164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">The implementation will affect the presentation of the consolidated </span></div><div class=\"ps7065 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">statement of profit or loss with the introduction of specified </span></div><div class=\"ps7066 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">categories and specified sub totals. The changed presentation will </span></div><div class=\"ps7067 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">result in certain items being classified differently, such as foreign </span></div><div class=\"ps7068 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">exchange adjustments and interest income. These items will be </span></div><div class=\"ps7069 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">classified in the category as the related income and expense arise, </span></div><div class=\"ps7070 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">e.g. foreign exchange adjustments related to accounts payables or </span></div><div class=\"ps7071 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">receivables will be classified in the operating category and interest </span></div><div class=\"ps7072 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">income and foreign exchange adjustments arising from cash and </span></div><div class=\"ps7073 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">cash equivalents will be classified in the investing category. The </span></div><div class=\"ps5472 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">reported net results will not be affected. The implementation is also </span></div><div class=\"ps5473 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">expected to impact the presentation of statement of financial </span></div><div class=\"ps5474 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">position with goodwill being presented as a separate line item, the </span></div><div class=\"ps5475 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">starting point of the statement of cash flows changing to operating </span></div><div class=\"ps5476 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">profit or loss and the disclosures related to management defined </span></div><div class=\"ps5477 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">performance measures (MPM).</span></div><div class=\"ps7042 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">The Group is currently working to further identify and analyse the </span></div><div class=\"ps5479 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">implications on the consolidated financial statements. Our </span></div><div class=\"ps5480 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">interpretation of the application may evolve as additional guidance </span></div><div class=\"ps5481 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">will become available.</span></div><div class=\"ps7074 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">The Group expects to adopt the accounting standards and </span></div><div class=\"ps7075 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">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-521": {
   "value": "<div class=\"ps7007 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps916\">2.4. Material accounting judgements, estimates and <span id=\"i62c4a121b3b745fbbb6b724ca835a895\"></span></span></div><div class=\"ps7076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps916\">assumptions</span></div><div class=\"ps7077 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">The preparation of the Group\u2019s consolidated financial statements </span></div><div class=\"ps7078 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">requires management to make judgements, estimates and </span></div><div class=\"ps7079 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">assumptions that affect the reported amounts of revenue, expenses, </span></div><div class=\"ps7080 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">assets and liabilities, accompanying disclosures, and the disclosure of </span></div><div class=\"ps7081 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">contingent liabilities. Uncertainty about these assumptions and </span></div><div class=\"ps7082 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">estimates could result in outcomes that require a material adjustment </span></div><div class=\"ps293 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">to the carrying amount of assets or liabilities affected in future </span></div><div class=\"ps294 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">periods.</span></div><div class=\"ps7083 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">The key assumptions concerning the future and other key sources of </span></div><div class=\"ps7084 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">estimation uncertainty at the reporting date that have a significant </span></div><div class=\"ps297 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">risk of causing a material adjustment to the carrying amounts of </span></div><div class=\"ps298 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">assets and liabilities within the next financial year are described </span></div><div class=\"ps299 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">below. The Group has based its assumptions and estimates on </span></div><div class=\"ps300 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">parameters available when the consolidated financial statements </span></div><div class=\"ps301 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">were authorised for issuance. Existing circumstances and assumptions </span></div><div class=\"ps7046 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">about future developments, however, may change due to market </span></div><div class=\"ps7085 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">changes or circumstances that are beyond the control of the Group. </span></div><div class=\"ps7088 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Such changes are reflected in the assumptions when they </span><span class=\"f charStyle-c1b8f9f6 ps7086\">occur</span><span class=\"f charStyle-c1b8f9f6 ps7087\">.</span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Material estimates<span id=\"i7e364c74e1e547de8169128032896e36\"></span></span></div><div class=\"ps5 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps183\">Useful life of vessels</span></div><div class=\"ps7091 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The estimation made regarding the useful life of the O-class vessels </span></div><div class=\"ps7092 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">has been based on, among other things, an analysis made by an </span></div><div class=\"ps7093 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">external expert. The determined fatigue analysis is based on the </span></div><div class=\"ps7094 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">technical specification of the WTIV and comparable vessels. The </span></div><div class=\"ps1937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">useful life of the vessels is estimated at </span><span class=\"f charStyle-c1b8f9f6 ps7095\">25 years</span><span class=\"f charStyle-c1b8f9f6 ps7096\">. </span></div><div class=\"ps3592 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In 2020,</span><span class=\"f charStyle-c1b8f9f6 ps7097\"> the Group acquired the above mentioned vessels which had </span></div><div class=\"ps1561 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">already been in use for </span><span class=\"f charStyle-c1b8f9f6 ps7098\">eight years</span><span class=\"f charStyle-c1b8f9f6 ps7099\">.</span><span class=\"f charStyle-c1b8f9f6 ps7100\"> Therefore, the remaining useful </span></div><div class=\"ps1565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">life of these vessels is estimated at </span><span class=\"f charStyle-c1b8f9f6 ps7101\">17 years</span><span class=\"f charStyle-c1b8f9f6 ps7102\"> for all components except </span></div><div class=\"ps1118 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">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 ps183\">remaining useful life of </span><span class=\"f charStyle-c1b8f9f6 ps7103\">three</span><span class=\"f charStyle-c1b8f9f6 ps1436\"> years</span><span class=\"f charStyle-c1b8f9f6 ps7104\"> from the acquisition of the vessels. </span></div><div class=\"ps1130 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In </span><span class=\"f charStyle-c1b8f9f6 ps7105\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7106\">, 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 ps183\">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 ps183\">capitalised</span><span class=\"f charStyle-c1b8f9f6 ps7107\">,</span><span class=\"f charStyle-c1b8f9f6 ps7108\"> 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 ps183\">life of the vessels. </span></div><div class=\"ps416 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">In 2023, as part of the business combination, the Group acquired </span><span class=\"f charStyle-c1b8f9f6 ps7109\">two</span><span class=\"f charStyle-c1b8f9f6 ps7110\"> </span></div><div class=\"ps417 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">additional vessels. </span><span class=\"f charStyle-c1b8f9f6 ps7111\">One</span><span class=\"f charStyle-c1b8f9f6 ps7112\"> of these vessels was delivered in 2015 and the </span></div><div class=\"ps418 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">other in 2012. Similar to the vessels acquired in 2020, the estimated </span></div><div class=\"ps419 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">useful life of these vessels, </span><span class=\"f charStyle-c1b8f9f6 ps7113\">25 years</span><span class=\"f charStyle-c1b8f9f6 ps7114\"> when first acquired, depends on </span></div><div class=\"ps420 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">initial delivery. Therefore, their remaining useful lives at acquisition </span></div><div class=\"ps421 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">date were assessed to be </span><span class=\"f charStyle-c1b8f9f6 ps7115\">17</span><span class=\"f charStyle-c1b8f9f6 ps6966\"> and </span><span class=\"f charStyle-c1b8f9f6 ps7116\">14 years</span><span class=\"f charStyle-c1b8f9f6 ps7117\"> respectively, and all </span></div><div class=\"ps7118 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">components will have the same useful life. Depreciation will be </span></div><div class=\"ps7119 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">calculated over the remaining useful life of these vessels.</span></div><div class=\"ps424 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">The estimation made regarding the useful life of New Builds has been </span></div><div class=\"ps5469 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">based on an internal technical analysis based on the technical </span></div><div class=\"ps5470 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">specification of the vessel and validated by an external expert. The </span></div><div class=\"ps5471 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">useful life of each New Build Vessel is estimated at </span><span class=\"f charStyle-c1b8f9f6 ps7120\">25 years</span><span class=\"f charStyle-c1b8f9f6 ps7121\">. </span></div><div class=\"ps5472 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">The residual value, useful life, and methods of depreciation of </span></div><div class=\"ps5473 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">property, plant, and equipment are reviewed at each financial year </span></div><div class=\"ps5474 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">end and adjusted accordingly, if appropriate. No changes were made </span></div><div class=\"ps5475 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">during </span><span class=\"f charStyle-c1b8f9f6 ps7122\">2025</span><span class=\"f charStyle-c1b8f9f6 ps7123\">. For further information, refer t</span><span class=\"f charStyle-c1b8f9f6 ps7124\">o Note 13.</span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps916\">Income tax<span id=\"i668d2f0da6e74831a3b376d5fa83cc2b\"></span></span></div><div class=\"ps5 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps916\">Pillar Two tax effects </span></div><div class=\"ps7091 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">In October 2021, more than 130 countries agreed on a two-pillar </span></div><div class=\"ps7092 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">approach to reform the international tax system. The Pillar Two rules </span></div><div class=\"ps7093 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">are designed to ensure that multinational corporations with </span><span class=\"f charStyle-c1b8f9f6 ps7125\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7126\"> 750 </span></div><div class=\"ps7094 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">million or more in annual revenue pay a minimum effective corporate </span></div><div class=\"ps1937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">tax rate of 15% on income received in each jurisdiction in which they </span></div><div class=\"ps1752 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">operate.</span></div><div class=\"ps1561 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">The principal jurisdictions in which the Group may be exposed to </span></div><div class=\"ps1565 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">additional taxation under Pillar Two include Denmark, the United </span></div><div class=\"ps1118 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Kingdom, and Cyprus, all of which have enacted legislation </span></div><div class=\"ps1128 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">implementing these rules. However, this legislation does not currently </span></div><div class=\"ps1130 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">apply to the Group, as its consolidated revenue is lower than </span><span class=\"f charStyle-c1b8f9f6 ps7127\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7128\"> 750 </span></div><div class=\"ps1131 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">million.</span></div><div class=\"ps4773 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">The Group continues to assess and monitor the potential future </span></div><div class=\"ps5228 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">impact of the Pillar Two rules on its business. Based on the Group\u2019s </span></div><div class=\"ps3550 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">initial assessment, a portion of its future income in these jurisdictions </span></div><div class=\"ps3551 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">may be subject to top-up tax under the new rules, noting that </span></div><div class=\"ps3552 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">international shipping income is excluded from the calculation of </span></div><div class=\"ps3553 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">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 ps916\">apply.</span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Impairment of non-financial assets<span id=\"i994d73ad72434199ac78f56b0f8d01ea\"></span></span></div><div class=\"ps7133 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Management is responsible for the identification of internal and </span></div><div class=\"ps7134 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">external indicators of impairment related to non-financial assets. If an </span></div><div class=\"ps7135 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">indicator of impairment is identified, assessment of whether an </span></div><div class=\"ps290 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">impairment test is required will be conducted. </span></div><div class=\"ps7081 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The recoverable amount depends on the fair value less cost of </span></div><div class=\"ps7082 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">disposal, and the value in use which is impacted by the discount rate </span></div><div class=\"ps293 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">used in the DCF model as well as future cash in-flows and growth </span></div><div class=\"ps294 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">rate assumptions. For further information please refer to</span><span class=\"f charStyle-c1b8f9f6 ps7136\"> Note 12.</span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps879\">Material judgements<span id=\"ic52a3ad2f2854eecacef11c134d921da\"></span></span></div><div class=\"ps7133 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps879\">Identification of CGU for the purpose of goodwill impairment</span></div><div class=\"ps7137 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">For the purpose of goodwill impairment, management has assessed </span></div><div class=\"ps7140 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">that Cadeler has </span><span class=\"f charStyle-c1b8f9f6 ps7138\">two</span><span class=\"f charStyle-c1b8f9f6 ps7139\"> cash generating units (CGUs), consisting of:</span></div><div class=\"ps7093 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2386\">\u2022<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps2387\">the transport and installation of wind turbine generators </span></div><div class=\"ps7094 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2387\">and foundation installation vessels (WTGFIVs) and</span></div><div class=\"ps3591 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2386\">\u2022<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps2387\">O&amp;MV</span></div><div class=\"ps1765 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">The wind turbine generators and foundations vessels (WTGFIV) CGU </span></div><div class=\"ps1766 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">is comprised of the Cadeler vessel class covering the O-Class, P-Class, </span></div><div class=\"ps1767 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">M-Class and A-Class and Wind Scylla vessels, which are largely </span></div><div class=\"ps1768 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">interchangeable, and the cash flows generated by them are </span></div><div class=\"ps1785 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">interdependent. These vessels are operated collectively, employed </span></div><div class=\"ps1786 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">interchangeably, and actively managed to meet the needs of our </span></div><div class=\"ps4772 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">customers in that market. The O&amp;M CGU is comprised of the </span><span class=\"f charStyle-c1b8f9f6 ps7141\">two</span><span class=\"f charStyle-c1b8f9f6 ps7142\"> </span></div><div class=\"ps4773 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">vessels Wind Zaratan and Wind Keeper, which have different </span></div><div class=\"ps5228 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">specifications and generate cash flows that are independent and </span></div><div class=\"ps3550 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">separable from the other vessels.</span></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps916\">Revenue recognition</span></div><div class=\"ps7143 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Judgement is applied when determining whether a contract contains </span></div><div class=\"ps7144 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">one or more performance obligations. Judgement is applied as </span></div><div class=\"ps7145 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">complexities arise when multiple types of promises to the customer </span></div><div class=\"ps7146 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">are bundled. </span></div><div class=\"ps7147 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Evaluating the criteria for revenue recognition requires </span></div><div class=\"ps7148 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">management's judgement to identify and assess the performance </span></div><div class=\"ps7149 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">obligations within a contract. This includes assessing the nature of </span></div><div class=\"ps7150 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">performance obligations and whether they are distinct or should be </span></div><div class=\"ps7151 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">combined with other performance obligations to determine whether </span></div><div class=\"ps7152 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">the performance obligations are satisfied over time or at a point in </span></div><div class=\"ps7153 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">time. </span></div><div class=\"ps4731 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">In contracts where multiple activities are bundled, judgement is </span></div><div class=\"ps7154 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">applied in the determination of the most appropriate recognition </span></div><div class=\"ps7155 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">method and the most appropriate measure of progress. Both </span></div><div class=\"ps7156 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">judgements have a primary impact on the timing and amount of </span></div><div class=\"ps7157 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">revenue to be recognised.</span></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Evaluating the application of the criteria for revenue recognition for </span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">contracts with customers requires management's judgement to </span></div><div class=\"ps7161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">assess and determine the following: </span></div><div class=\"ps419 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">\u2022<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1762\">Identification of performance obligations within the </span></div><div class=\"ps420 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">contract, including assessing their nature and determining </span></div><div class=\"ps421 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">whether they are distinct or should be combined, as well as </span></div><div class=\"ps7118 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">whether they are satisfied over time or at a point in time. </span></div><div class=\"ps423 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">\u2022<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1762\">Determination of the transaction price, including an </span></div><div class=\"ps424 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">assessment of variable consideration in the contract. </span></div><div class=\"ps7071 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">\u2022<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1762\">In contracts where multiple performance obligation are </span></div><div class=\"ps7072 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">bundled, the allocation of the transaction price to </span></div><div class=\"ps7073 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">performance obligations in order to determine the stand-</span></div><div class=\"ps5472 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">alone selling price of each performance obligation identified </span></div><div class=\"ps5473 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">in the contract using key assumptions that may include </span></div><div class=\"ps5474 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">observable market inputs and expected margin in the </span></div><div class=\"ps5475 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">activities.</span></div><div class=\"ps7162 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Macroeconomic factors and climate risks<span id=\"i6f1a61f1ac6e4573a25a0974f65eca00\"></span></span></div><div class=\"ps402 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">As part of its commitment to transparency and risk management, </span></div><div class=\"ps403 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Cadeler recognises the significance of macroeconomic factors and </span></div><div class=\"ps404 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">climate risks in financial evaluations. These factors are integral to </span></div><div class=\"ps7163 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">assessing the useful lives and residual values of assets and </span></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">conducting Discounted Cash Flow (DCF) analyses for impairment </span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">testing. Operating within the offshore wind installation sector, </span></div><div class=\"ps7161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">Cadeler\u2019s fleet supports the energy transition, a key driver of long-</span></div><div class=\"ps7164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">term demand. </span></div><div class=\"ps420 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">Management has evaluated climate-related risks, including regulatory </span></div><div class=\"ps421 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">developments, technological advancements, and market shifts, and </span></div><div class=\"ps7118 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">does not currently identify indicators requiring changes to the </span></div><div class=\"ps7119 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">Group\u2019s depreciation assumptions, residual values, or impairment </span></div><div class=\"ps7165 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">outlook. The Group\u2019s vessels are designed to accommodate evolving </span></div><div class=\"ps7166 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">industry requirements, mitigating the risk of obsolescence from </span></div><div class=\"ps7167 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">climate policies or emissions regulations.</span></div><div class=\"ps5471 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">Cadeler\u2019s assessment considers potential financial impacts of climate-</span></div><div class=\"ps7039 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">related risks, including operational disruptions from extreme weather, </span></div><div class=\"ps7040 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">supply chain vulnerabilities, and shifting industry standards. While </span></div><div class=\"ps7041 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">climate risks could influence project timing or infrastructure </span></div><div class=\"ps7168 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">investments, there is no evidence suggesting a material impact on </span></div><div class=\"ps7169 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">asset valuations. The useful life of the Group\u2019s vessels is reviewed </span></div><div class=\"ps7170 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">regularly considering emerging industry trends, and current market </span></div><div class=\"ps7171 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">conditions support the expectation that our assets will continue to </span></div><div class=\"ps7172 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">generate economic benefits as planned. Additionally, ongoing </span></div><div class=\"ps6944 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">investments in modern, upgradeable vessels enhance adaptability to </span></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">future regulatory changes, further supporting our financial </span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">assumptions.</span></div><div class=\"ps418 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Beyond climate risks, Cadeler monitors broader macroeconomic </span></div><div class=\"ps419 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">conditions, including inflationary pressures, interest rate fluctuations, </span></div><div class=\"ps420 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">and geopolitical uncertainties that may impact operations. The </span></div><div class=\"ps421 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">international macroeconomic situation is currently characterised by </span></div><div class=\"ps7118 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">material uncertainty, mainly due to the elevated levels of public debt </span></div><div class=\"ps7119 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">in many of the leading global economies, increasing interest and </span></div><div class=\"ps7165 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">inflation rates, the war in Ukraine, the imposition of sanctions against </span></div><div class=\"ps7166 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Russia, conflict in the Middle East, European energy crises and global </span></div><div class=\"ps7167 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">supply-chain constraints. Over the past year, the sector has </span></div><div class=\"ps7173 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">experienced continued negative sentiment and political headwinds in </span></div><div class=\"ps7174 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">the United States. The energy sector remains subject to volatility due </span></div><div class=\"ps7175 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">to regulatory shifts, oil prices and economic developments, and we </span></div><div class=\"ps7177 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">remain proactive in integ</span><span class=\"f charStyle-c1b8f9f6 ps7176\">rating these factors into financial </span></div><div class=\"ps2800 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">evaluations. Through continuous assessment and review, we ensure </span></div><div class=\"ps2801 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">that our accounting policies reflect a comprehensive understanding </span></div><div class=\"ps2802 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">of macroeconomic and climate-related r</span><span class=\"f charStyle-c1b8f9f6 ps7178\">isks, maintaining a robust </span></div><div class=\"ps2803 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">approach to financial reporting and impairment analyses. For further </span></div><div class=\"ps2804 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">information on the risks to which Cadeler is exposed, refer to the </span></div><div class=\"ps2805 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">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-522": {
   "value": "<div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 3</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Revenue<span id=\"iedc7f7a173b14d37be4f14892a26b431_129152\"></span><span id=\"i46e0e7a2ec8343f2a2538cc475e76a04\"></span></span></div><div class=\"ps7183 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-3dadb26b ps183\">The Group is a leading supplier to the offshore wind industry, </span></div><div class=\"ps7184 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-3dadb26b ps183\">specialising in T&amp;I and O&amp;M services rendered to customers in Europe, </span></div><div class=\"ps7186 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-3dadb26b ps183\">Asia, and the United States.</span><span class=\"f charStyle-3dadb26b ps7185\"> The Group owns and operates the world's </span></div><div class=\"ps7187 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-3dadb26b ps183\">largest, most advanced, and most flexible fleet of wind turbine transport </span></div><div class=\"ps7188 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-3dadb26b ps183\">and installation vessels.The Group\u2019s revenue is dependent on project </span></div><div class=\"ps7189 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-3dadb26b ps183\">contracts and vessel charters for the employment and utilization of the </span></div><div class=\"ps3340 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-3dadb26b ps183\">vessels. The customers are typically major project developers or energy </span></div><div class=\"ps7190 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-3dadb26b ps183\">companies that operate globally, and the current order backlog spans a </span></div><div class=\"ps3267 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-3dadb26b ps183\">number of years. Refer to separate information on major customers and </span></div><div class=\"ps3268 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-3dadb26b ps183\">order backlog below. T</span><span class=\"f charStyle-3dadb26b ps7191\">he Group has operated </span><span class=\"f charStyle-3dadb26b ps7192\">nine</span><span class=\"f charStyle-3dadb26b ps7193\"> vessels compared </span></div><div class=\"ps3269 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-3dadb26b ps183\">to </span><span class=\"f charStyle-3dadb26b ps7194\">five</span><span class=\"f charStyle-3dadb26b ps7195\"> operating vessels in 2024. The increase in the number of </span></div><div class=\"ps3270 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-3dadb26b ps183\">operating vessels in 2025 compared to 2024 is the main driver for </span></div><div class=\"ps7196 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-3dadb26b ps183\">increased revenue.</span></div><div class=\"ps7197 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-296ed202 ps183\">The Group derives its revenue from fees charged to our customers for </span></div><div class=\"ps7198 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-296ed202 ps183\">the use of our vessels and related services. The Group\u2019s contracts with </span></div><div class=\"ps7199 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-296ed202 ps183\">customers comprises the following main revenue generating activities:</span></div><div class=\"ps7200 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Time-charter activities represents revenue earned from time charter </span></div><div class=\"ps7201 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">contracts and time charter related activities. Revenue from time </span></div><div class=\"ps7202 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">charter hire services are contracts with customers where the Group </span></div><div class=\"ps7203 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">utilizes its vessels, equipment and crew to deliver a service to the </span></div><div class=\"ps7204 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">customer normally based on either a fixed day rate or milestone </span></div><div class=\"ps7205 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">deliverables. Contracts may also include other promises such as </span></div><div class=\"ps7206 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">mobilization and demobilization, provision of bunker services, </span></div><div class=\"ps3182 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">catering and accommodation.</span></div><div class=\"ps4172 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Transportation and installation activities (T&amp;I) represents contracts </span></div><div class=\"ps3230 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">with customers where the Group utilises its vessels, equipment and </span></div><div class=\"ps7207 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">crew to perform the transportation and installation of offshore wind </span></div><div class=\"ps7208 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">turbine foundations as well as heavy lifting operations, </span></div><div class=\"ps7209 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">decommissioning and planning and engineering.</span></div><div class=\"ps7210 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Other revenue represents cost recharges and other personnel </span></div><div class=\"ps7211 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">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 ps183\">Note 3</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Revenue<span id=\"if76fdac0ed4440cf8a96234aef822a12\"></span></span></div><div class=\"ps6975 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-cd31f1a5 ps183\">Continued from previous page</span></div><div class=\"ps7213 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Disaggregation of revenue from contracts with customers by activity<span id=\"i57103e2770ae4a589800f7333c16e287\"></span></span></div><div class=\"ps7009 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The following table provides information about disaggregated revenue. </span></div><div class=\"ps7227 ss0\"><div class=\"ss313 ws0 ps67\"><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=\"ps37 ss576\"><div><div class=\"ps7214 ss575\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7215 ss577\"><div><div class=\"ps2573 ss336\"><span class=\"f charStyle-281247bf ps6312\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6790 ss577\"><div><div class=\"ps2573 ss336\"><span class=\"f charStyle-054ead99 ps6312\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps4697 ss577\"><div><div class=\"ps2573 ss336\"><span class=\"f charStyle-054ead99 ps6312\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2576 ss576\"><div><div class=\"ps2573 ss575\"><span class=\"f charStyle-b07b4361 ps39\">Revenue disaggregation<span class=\"f ps40\"> </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=\"ps1993 ss576\"><div><div class=\"ps7216 ss575\"><span class=\"f charStyle-1bac868e ps630\">Time charter services and transportation and installation <span class=\"f ps40\"> </span></span></div><div class=\"ps7217 ss575\"><span class=\"f charStyle-1bac868e ps630\">services</span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7218 ss577\"><div><div class=\"ps2573 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.17pt\"></span></span><span class=\"ps6353\">490,454</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7219 ss577\"><div><div class=\"ps2573 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.17pt\"></span></span><span class=\"ps6353\">226,545</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7220 ss577\"><div><div class=\"ps2573 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6317\">99,841</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"padding:0\"><div class=\"ps653 ss576\"><div><div class=\"ps7216 ss575\"><span class=\"f charStyle-1bac868e ps630\">Other revenue, including fees earned for early <span class=\"f ps40\"> </span></span></div><div class=\"ps7217 ss575\"><span class=\"f charStyle-1bac868e ps630\">termination of contracts by customers</span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7221 ss577\"><div><div class=\"ps2573 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.17pt\"></span></span><span class=\"ps6353\">129,900</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7222 ss577\"><div><div class=\"ps2573 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6317\">22,193</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7223 ss577\"><div><div class=\"ps2573 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">8,781</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps3824 ss576\"><div><div class=\"ps2573 ss575\"><span class=\"f charStyle-b07b4361 ps39\">Total revenue<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7224 ss577\"><div><div class=\"ps2573 ss336\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.77pt\"></span></span><span class=\"ps6379\">620,354</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7225 ss577\"><div><div class=\"ps2573 ss336\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.77pt\"></span></span><span class=\"ps6379\">248,738</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7226 ss577\"><div><div class=\"ps2573 ss336\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.77pt\"></span></span><span class=\"ps6379\">108,622</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps3130 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Balance of other revenue primarily includes fees earned for early termination of contracts by customers in </span></div><div class=\"ps3131 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">2025 includes the receipt of termination fees under a Long-Term Agreement (LTA).</span></div><div class=\"ps3102 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">We have determined that our contracts - in general - contain a lease component and, therefore, we </span></div><div class=\"ps3132 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">separately disclose revenues associated with the lease and service components of our contracts. For the </span></div><div class=\"ps3133 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">year ended </span><span class=\"f charStyle-c1b8f9f6 ps7228\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps7229\">, the lease component, included within time charter services and </span></div><div class=\"ps7246 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">transportation and installation services, amounts to</span><span class=\"f charStyle-c1b8f9f6 ps7230\"> </span><span class=\"f charStyle-c1b8f9f6 ps7231\">EUR</span><span class=\"f charStyle-58d8bcbe ps7232\"> </span><span class=\"f charStyle-c1b8f9f6 ps7233\">194</span><span class=\"f charStyle-c1b8f9f6 ps7234\"> million</span><span class=\"f charStyle-c1b8f9f6 ps7235\"> (</span><span class=\"f charStyle-c1b8f9f6 ps7236\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7237\">: </span><span class=\"f charStyle-c1b8f9f6 ps7238\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7239\"> </span><span class=\"f charStyle-c1b8f9f6 ps7240\">85\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7241\">; </span><span class=\"f charStyle-c1b8f9f6 ps7242\">2023</span><span class=\"f charStyle-c1b8f9f6 ps7243\">: </span><span class=\"f charStyle-c1b8f9f6 ps7244\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7245\"> </span></div><div class=\"ps7249 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">79\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7247\">)</span><span class=\"f charStyle-c1b8f9f6 ps7248\">. The lease component is calculated by applying the estimated bareboat charter day-rate to the </span></div><div class=\"ps7250 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">on-hire days.</span></div><div class=\"ps7213 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps7253\">Operating segments and geographical information <span id=\"i37e55903f1144683a1d40d6e321aff09\"></span></span></div><div class=\"ps370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps7253\">Operating segments </span></div><div class=\"ps7140 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps7253\">The Group\u2019s </span><span class=\"f charStyle-c1b8f9f6 ps7254\">nine</span><span class=\"f charStyle-c1b8f9f6 ps7255\"> windfarm installation vessels (WFIVs) operate in a global market and are often redeployed </span></div><div class=\"ps7256 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps7253\">to different regions due to changing customers or contracts. Accordingly, the Group reports its operations </span></div><div class=\"ps7257 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps7253\">as a single reportable segment.</span></div><div class=\"ps7258 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps7253\">Geographical revenue split<span id=\"ib000f933cc044ae7861cd5b2e8908084\"></span></span></div><div class=\"ps7259 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps7253\">The following table presents financial information by country and region based on the location of the </span></div><div class=\"ps7260 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps7253\">service provided. Individual countries are shown if they are above 10% of revenue.</span></div><div class=\"ps7312 ss0\"><div class=\"ss313 ws0 ps7311\"><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=\"ps37 ss579\"><div><div class=\"ps7261 ss578\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7262 ss413\"><div><div class=\"ps624 ss241\"><span class=\"f charStyle-281247bf ps5307\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7263 ss580\"><div><div class=\"ps624 ss297\"><span class=\"f charStyle-054ead99 ps3737\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7265 ss582\"><div><div class=\"ps624 ss581\"><span class=\"f charStyle-054ead99 ps7264\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps622 ss579\"><div><div class=\"ps624 ss578\"><span class=\"f charStyle-b07b4361 ps39\">Total revenue by country and region<span class=\"f ps40\"> </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=\"ps631 ss579\"><div><div class=\"ps619 ss578\"><span class=\"f charStyle-1bac868e ps39\">Denmark<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7267 ss413\"><div><div class=\"ps624 ss241\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.17pt\"></span></span><span class=\"ps7266\">102,466</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7269 ss580\"><div><div class=\"ps624 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7268\">51,071</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7271 ss582\"><div><div class=\"ps624 ss581\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.87pt\"></span></span><span class=\"ps7270\">5,431</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"padding:0\"><div class=\"ps639 ss579\"><div><div class=\"ps619 ss578\"><span class=\"f charStyle-1bac868e ps39\">UK<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7272 ss413\"><div><div class=\"ps624 ss241\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.17pt\"></span></span><span class=\"ps7266\">131,679</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7273 ss580\"><div><div class=\"ps624 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7268\">68,511</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7275 ss582\"><div><div class=\"ps624 ss581\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.02pt\"></span></span><span class=\"ps7274\">48,880</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"padding:0\"><div class=\"ps647 ss579\"><div><div class=\"ps619 ss578\"><span class=\"f charStyle-1bac868e ps39\">Germany<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7277 ss413\"><div><div class=\"ps624 ss241\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.02pt\"></span></span><span class=\"ps7276\">60,439</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7279 ss580\"><div><div class=\"ps624 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7281 ss582\"><div><div class=\"ps624 ss581\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:53.22pt\"></span></span><span class=\"ps7280\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"padding:0\"><div class=\"ps653 ss579\"><div><div class=\"ps619 ss578\"><span class=\"f charStyle-1bac868e ps39\">Poland<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7282 ss413\"><div><div class=\"ps624 ss241\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.02pt\"></span></span><span class=\"ps7276\">58,512</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7283 ss580\"><div><div class=\"ps624 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6534 ss582\"><div><div class=\"ps624 ss581\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:53.22pt\"></span></span><span class=\"ps7280\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"padding:0\"><div class=\"ps659 ss579\"><div><div class=\"ps619 ss578\"><span class=\"f charStyle-1bac868e ps39\">Rest of Europe<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7285 ss413\"><div><div class=\"ps624 ss241\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.87pt\"></span></span><span class=\"ps7284\">3,575</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7287 ss580\"><div><div class=\"ps624 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">4,983</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7288 ss582\"><div><div class=\"ps624 ss581\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.02pt\"></span></span><span class=\"ps7274\">54,311</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps57 ss579\"><div><div class=\"ps624 ss578\"><span class=\"f charStyle-b07b4361 ps39\">Europe<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7290 ss413\"><div><div class=\"ps624 ss241\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.77pt\"></span></span><span class=\"ps7289\">356,671</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7292 ss580\"><div><div class=\"ps624 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.52pt\"></span></span><span class=\"ps7291\">124,565</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7293 ss582\"><div><div class=\"ps624 ss581\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.77pt\"></span></span><span class=\"ps3871\">108,622</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7294 ss579\"><div><div class=\"ps619 ss578\"><span class=\"f charStyle-1bac868e ps39\">United States<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7295 ss413\"><div><div class=\"ps624 ss241\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.17pt\"></span></span><span class=\"ps7266\">140,612</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7296 ss580\"><div><div class=\"ps624 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7268\">87,958</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7297 ss582\"><div><div class=\"ps624 ss581\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:53.22pt\"></span></span><span class=\"ps7280\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5171 ss579\"><div><div class=\"ps624 ss578\"><span class=\"f charStyle-b07b4361 ps39\">Americas<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7298 ss413\"><div><div class=\"ps624 ss241\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.77pt\"></span></span><span class=\"ps7289\">140,612</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7300 ss580\"><div><div class=\"ps624 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7299\">87,958</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7301 ss582\"><div><div class=\"ps624 ss581\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:53.22pt\"></span></span><span class=\"ps7280\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4824 ss579\"><div><div class=\"ps619 ss578\"><span class=\"f charStyle-1bac868e ps39\">Taiwan<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7302 ss413\"><div><div class=\"ps624 ss241\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.17pt\"></span></span><span class=\"ps7266\">123,071</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7303 ss580\"><div><div class=\"ps624 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7268\">36,215</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7304 ss582\"><div><div class=\"ps624 ss581\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:53.22pt\"></span></span><span class=\"ps7280\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5711 ss579\"><div><div class=\"ps624 ss578\"><span class=\"f charStyle-b07b4361 ps39\">Asia<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7305 ss413\"><div><div class=\"ps624 ss241\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.77pt\"></span></span><span class=\"ps7289\">123,071</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7306 ss580\"><div><div class=\"ps624 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7299\">36,215</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7307 ss582\"><div><div class=\"ps624 ss581\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:53.22pt\"></span></span><span class=\"ps7280\">\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=\"ps3996 ss579\"><div><div class=\"ps624 ss578\"><span class=\"f charStyle-b07b4361 ps39\">Total Revenue<span class=\"f ps40\"> </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=\"ps7308 ss413\"><div><div class=\"ps624 ss241\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.77pt\"></span></span><span class=\"ps7289\">620,354</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7309 ss580\"><div><div class=\"ps624 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.52pt\"></span></span><span class=\"ps7291\">248,738</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7310 ss582\"><div><div class=\"ps624 ss581\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.77pt\"></span></span><span class=\"ps3871\">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 ps183\">Note 3</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Revenue<span id=\"i9cbff1de09714a0e95f319c77ade26d4\"></span></span></div><div class=\"ps6975 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-cd31f1a5 ps183\">Continued from previous page</span></div><div class=\"ps7314 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Major customers <span id=\"i48dffa16f79849508779122d743989f0\"></span></span></div><div class=\"ps7319 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-e3ca0184 ps183\">For the year ended </span><span class=\"f charStyle-e3ca0184 ps7315\">31\u00a0December 2025</span><span class=\"f charStyle-e3ca0184 ps7316\">, revenue from </span><span class=\"f charStyle-e3ca0184 ps7317\">3</span><span class=\"f charStyle-e3ca0184 ps7318\"> customers each exceeded 10% of total revenue. The </span></div><div class=\"ps7332 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-e3ca0184 ps183\">revenue derived from these three customers was </span><span class=\"f charStyle-e3ca0184 ps7320\">EUR</span><span class=\"f charStyle-e3ca0184 ps7321\"> </span><span class=\"f charStyle-e3ca0184 ps7322\">312\u00a0million</span><span class=\"f charStyle-e3ca0184 ps7323\">, </span><span class=\"f charStyle-e3ca0184 ps7324\">EUR</span><span class=\"f charStyle-e3ca0184 ps7325\"> </span><span class=\"f charStyle-e3ca0184 ps7326\">110\u00a0million</span><span class=\"f charStyle-e3ca0184 ps7327\">, </span><span class=\"f charStyle-e3ca0184 ps7328\">EUR</span><span class=\"f charStyle-e3ca0184 ps7329\"> </span><span class=\"f charStyle-e3ca0184 ps7330\">72\u00a0million</span><span class=\"f charStyle-e3ca0184 ps7331\"> respectively.</span></div><div class=\"ps3380 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">For the year ended </span><span class=\"f charStyle-c1b8f9f6 ps7333\">31\u00a0December 2024</span><span class=\"f charStyle-c1b8f9f6 ps7334\">, revenue from four customers each exceeded 10% of total revenue. </span></div><div class=\"ps6980 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The revenue derived from these four customers w</span><span class=\"f charStyle-c1b8f9f6 ps7335\">as </span><span class=\"f charStyle-c1b8f9f6 ps7336\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7337\"> </span><span class=\"f charStyle-c1b8f9f6 ps7338\">60\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\">58\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7343\">, </span><span class=\"f charStyle-c1b8f9f6 ps7344\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7345\"> </span><span class=\"f charStyle-c1b8f9f6 ps7346\">56\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7347\"> and </span></div><div class=\"ps6981 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">36\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7348\"> respectively. </span></div><div class=\"ps7350 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">For the year ended </span><span class=\"f charStyle-c1b8f9f6 ps7333\">31\u00a0December 2023</span><span class=\"f charStyle-c1b8f9f6 ps7349\">, revenue from three customers each exceeded 10% of total revenue. </span></div><div class=\"ps6985 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The revenue derived from these three customers was </span><span class=\"f charStyle-c1b8f9f6 ps7351\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7352\"> </span><span class=\"f charStyle-c1b8f9f6 ps7353\">44.5\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7354\">, </span><span class=\"f charStyle-c1b8f9f6 ps7355\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7356\"> </span><span class=\"f charStyle-c1b8f9f6 ps7357\">28.5</span><span class=\"f charStyle-c1b8f9f6 ps7358\"> and </span><span class=\"f charStyle-c1b8f9f6 ps7359\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps4993\"> </span><span class=\"f charStyle-c1b8f9f6 ps7360\">22.7\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7361\"> </span></div><div class=\"ps7362 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">respectively. </span></div><div class=\"ps7363 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Non-current assets by geography<span id=\"i79f53dff1130499b973d1d1b9cafd113\"></span></span></div><div class=\"ps7364 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Company\u2019s non-current assets (excluding derivatives) are based on domicile of the legal entity </span></div><div class=\"ps5068 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">ownership in the following countries/regions:</span></div><div class=\"ps7413 ss0\"><div class=\"ss313 ws0 ps67\"><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=\"ps37 ss583\"><div><div class=\"ps7365 ss575\"><span class=\"f charStyle-4979afbe ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7215 ss475\"><div><div class=\"ps4694 ss336\"><span class=\"f charStyle-281247bf ps6312\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6790 ss475\"><div><div class=\"ps4694 ss336\"><span class=\"f charStyle-281247bf ps6312\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps4697 ss475\"><div><div class=\"ps4694 ss336\"><span class=\"f charStyle-281247bf ps6312\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:26.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4698 ss584\"><div><div class=\"ps3896 ss575\"><span class=\"f charStyle-b07b4361 ps39\">Non-current assets (excluding derivatives) by country <span class=\"f ps40\"> </span></span></div><div class=\"ps3898 ss575\"><span class=\"f charStyle-b07b4361 ps39\">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=\"ps5195 ss585\"><div><div class=\"ps741 ss575\"><span class=\"f charStyle-1bac868e ps630\">Denmark (country of domicile)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7366 ss473\"><div><div class=\"ps741 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.11pt\"></span></span><span class=\"ps4466\">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=\"ps7368 ss473\"><div><div class=\"ps741 ss336\"><span class=\"f charStyle-1bac868e\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:20.83pt\"></span></span><span class=\"ps7367\">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=\"ps7369 ss473\"><div><div class=\"ps741 ss336\"><span class=\"f charStyle-1bac868e\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.85pt\"></span></span><span class=\"ps518\">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=\"ps5247 ss585\"><div><div class=\"ps741 ss575\"><span class=\"f charStyle-1bac868e ps630\">UK<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7371 ss473\"><div><div class=\"ps741 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:12.31pt\"></span></span><span class=\"ps7370\">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=\"ps7372 ss473\"><div><div class=\"ps741 ss336\"><span class=\"f charStyle-1bac868e\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.85pt\"></span></span><span class=\"ps518\">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=\"ps7374 ss473\"><div><div class=\"ps741 ss336\"><span class=\"f charStyle-1bac868e\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.65pt\"></span></span><span class=\"ps7373\">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=\"ps3748 ss585\"><div><div class=\"ps741 ss575\"><span class=\"f charStyle-1bac868e ps630\">Cyprus<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7375 ss473\"><div><div class=\"ps741 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:12.31pt\"></span></span><span class=\"ps7370\">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=\"ps7377 ss473\"><div><div class=\"ps741 ss336\"><span class=\"f charStyle-1bac868e\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.22pt\"></span></span><span class=\"ps7376\">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=\"ps7379 ss473\"><div><div class=\"ps741 ss336\"><span class=\"f charStyle-1bac868e\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.61pt\"></span></span><span class=\"ps7378\">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=\"ps3935 ss585\"><div><div class=\"ps741 ss575\"><span class=\"f charStyle-1bac868e ps630\">Rest of Europe<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7381 ss473\"><div><div class=\"ps741 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.61pt\"></span></span><span class=\"ps7380\">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=\"ps7383 ss473\"><div><div class=\"ps741 ss336\"><span class=\"f charStyle-1bac868e\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.25pt\"></span></span><span class=\"ps7382\">\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=\"ps7384 ss473\"><div><div class=\"ps741 ss336\"><span class=\"f charStyle-1bac868e\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.25pt\"></span></span><span class=\"ps7382\">\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=\"ps7385 ss585\"><div><div class=\"ps741 ss575\"><span class=\"f charStyle-b07b4361 ps39\">Total Europe<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7386 ss473\"><div><div class=\"ps741 ss336\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:6.17pt\"></span></span><span class=\"ps442\">2,900,958</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7387 ss473\"><div><div class=\"ps741 ss336\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:6.17pt\"></span></span><span class=\"ps442\">1,653,707</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7388 ss473\"><div><div class=\"ps741 ss336\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:6.17pt\"></span></span><span class=\"ps442\">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=\"ps7389 ss585\"><div><div class=\"ps741 ss575\"><span class=\"f charStyle-1bac868e ps630\">Japan<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7391 ss473\"><div><div class=\"ps741 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:23.96pt\"></span></span><span class=\"ps7390\">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=\"ps7393 ss473\"><div><div class=\"ps741 ss336\"><span class=\"f charStyle-1bac868e\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.58pt\"></span></span><span class=\"ps7392\">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=\"ps7395 ss473\"><div><div class=\"ps741 ss336\"><span class=\"f charStyle-1bac868e\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.2pt\"></span></span><span class=\"ps7394\">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=\"ps7396 ss585\"><div><div class=\"ps741 ss575\"><span class=\"f charStyle-1bac868e ps630\">Taiwan<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7397 ss473\"><div><div class=\"ps741 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.61pt\"></span></span><span class=\"ps7380\">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=\"ps7399 ss473\"><div><div class=\"ps741 ss336\"><span class=\"f charStyle-1bac868e\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:45.51pt\"></span></span><span class=\"ps7398\">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=\"ps7401 ss473\"><div><div class=\"ps741 ss336\"><span class=\"f charStyle-1bac868e\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.77pt\"></span></span><span class=\"ps7400\">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=\"ps672 ss585\"><div><div class=\"ps741 ss575\"><span class=\"f charStyle-b07b4361 ps39\">Total Asia<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7403 ss473\"><div><div class=\"ps741 ss336\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7402\">82,520</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7404 ss473\"><div><div class=\"ps741 ss336\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7402\">88,085</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7405 ss473\"><div><div class=\"ps741 ss336\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7402\">86,510</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps2282 ss585\"><div><div class=\"ps741 ss575\"><span class=\"f charStyle-b07b4361 ps39\">United States<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7406 ss473\"><div><div class=\"ps741 ss336\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6343\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7408 ss473\"><div><div class=\"ps741 ss336\"><span class=\"f charStyle-1bac868e\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.95pt\"></span></span><span class=\"ps7407\">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=\"ps7409 ss585\"><div><div class=\"ps741 ss575\"><span class=\"f charStyle-b07b4361 ps39\">Total <span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7410 ss473\"><div><div class=\"ps741 ss336\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:6.17pt\"></span></span><span class=\"ps442\">2,983,478</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7411 ss473\"><div><div class=\"ps741 ss336\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:6.17pt\"></span></span><span class=\"ps442\">1,741,806</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7412 ss473\"><div><div class=\"ps741 ss336\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:6.17pt\"></span></span><span class=\"ps442\">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 ps183\">Note 3</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Revenue<span id=\"i94873e6f05134a7f836148fbff23e4b1\"></span></span></div><div class=\"ps6975 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-cd31f1a5 ps183\">Continued from previous page</span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Contract backlog <span id=\"i683eec5fab1e4facae7b411eeaa069ab\"></span></span></div><div class=\"ps369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group's order backlog including options as of </span><span class=\"f charStyle-c1b8f9f6 ps950\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps7414\"> </span></div><div class=\"ps370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">amounts to </span><span class=\"f charStyle-c1b8f9f6 ps7415\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7416\"> </span><span class=\"f charStyle-c1b8f9f6 ps7417\">2.8\u00a0billion</span><span class=\"f charStyle-c1b8f9f6 ps7418\"> (</span><span class=\"f charStyle-c1b8f9f6 ps7419\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7420\">: </span><span class=\"f charStyle-c1b8f9f6 ps7421\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7422\"> </span><span class=\"f charStyle-c1b8f9f6 ps7423\">2.3\u00a0billion</span><span class=\"f charStyle-c1b8f9f6 ps7424\">; </span><span class=\"f charStyle-c1b8f9f6 ps7425\">2023</span><span class=\"f charStyle-c1b8f9f6 ps7426\">: </span><span class=\"f charStyle-c1b8f9f6 ps7427\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7428\"> </span></div><div class=\"ps397 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">1.7\u00a0billion</span><span class=\"f charStyle-c1b8f9f6 ps7429\">). </span><span class=\"f charStyle-c1b8f9f6 ps7430\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7431\"> </span><span class=\"f charStyle-c1b8f9f6 ps7432\">846</span><span class=\"f charStyle-c1b8f9f6 ps7433\"> million</span><span class=\"f charStyle-c1b8f9f6 ps7434\"> of the backlog pertains to contracts that </span></div><div class=\"ps7437 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">management expects to recognise in </span><span class=\"f charStyle-c1b8f9f6 ps7435\">2026</span><span class=\"f charStyle-c1b8f9f6 ps7436\">, if all options are </span></div><div class=\"ps7438 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">exercised.</span></div><div class=\"ps374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group's order backlog excluding options as of </span><span class=\"f charStyle-c1b8f9f6 ps7439\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps7440\"> </span></div><div class=\"ps375 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">amounts to </span><span class=\"f charStyle-c1b8f9f6 ps7415\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7416\"> </span><span class=\"f charStyle-c1b8f9f6 ps7417\">2.4\u00a0billion</span><span class=\"f charStyle-c1b8f9f6 ps7441\"> (</span><span class=\"f charStyle-c1b8f9f6 ps7442\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7443\">: </span><span class=\"f charStyle-c1b8f9f6 ps7444\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7445\"> </span><span class=\"f charStyle-c1b8f9f6 ps7446\">1.9\u00a0billion</span><span class=\"f charStyle-c1b8f9f6 ps7447\">; </span><span class=\"f charStyle-c1b8f9f6 ps7448\">2023</span><span class=\"f charStyle-c1b8f9f6 ps7449\">: </span><span class=\"f charStyle-c1b8f9f6 ps7450\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7451\"> </span></div><div class=\"ps376 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">1.4\u00a0billion</span><span class=\"f charStyle-c1b8f9f6 ps7452\">).</span><span class=\"f charStyle-c1b8f9f6 ps7453\"> </span></div><div class=\"ps377 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Contract backlog for firm orders (as of reporting date)</span></div><div class=\"ps7454 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The following table presents the aggregate amount of the revenues </span></div><div class=\"ps7455 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">expected to be realized in the future from partially or fully unsatisfied </span></div><div class=\"ps7456 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">performance obligations as we perform under the contracts. We </span></div><div class=\"ps7457 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">disclose both the value of firm contracts and a contract backlog </span></div><div class=\"ps382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">including options (non-GAAP measure). The values includes all new </span></div><div class=\"ps383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">contracts signed at the reporting date: </span></div><div class=\"ps7512 ss0\"><div class=\"ss597 ws0 ps7511\"><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=\"ps37 ss587\"><div><div class=\"ps7459 ss586\"><span class=\"f charStyle-4979afbe ps39\">EUR million<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7461 ss419\"><div><div class=\"ps2702 ss48\"><span class=\"f charStyle-281247bf ps7460\">Within 1 year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6046 ss419\"><div><div class=\"ps2702 ss48\"><span class=\"f charStyle-281247bf ps4359\">After 1 year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7463 ss419\"><div><div class=\"ps2702 ss48\"><span class=\"f charStyle-281247bf ps7462\">Total<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps1987 ss588\"><div><div class=\"ps435 ss586\"><span class=\"f charStyle-b07b4361 ps39\">Contract Backlog<span class=\"f ps40\"> </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=\"ps1989 ss589\"><div><div class=\"ps741 ss586\"><span class=\"f charStyle-1bac868e ps630\">Firm, excluding options<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7465 ss590\"><div><div class=\"ps741 ss48\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.17pt\"></span></span><span class=\"ps7464\">764</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7467 ss590\"><div><div class=\"ps741 ss48\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.37pt\"></span></span><span class=\"ps7466\">1,627</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7468 ss590\"><div><div class=\"ps741 ss48\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.37pt\"></span></span><span class=\"ps7466\">2,391</span></span></div></div></div></td></tr><tr style=\"height:27pt\"><td style=\"padding:0\"><div class=\"ps5518 ss591\"><div><div class=\"ps7469 ss586\"><span class=\"f charStyle-1bac868e ps630\">Options considered as contingent considerations for revenue recognition purposes<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7471 ss592\"><div><div class=\"ps7469 ss48\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.02pt\"></span></span><span class=\"ps7470\">41</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps5526 ss592\"><div><div class=\"ps7469 ss48\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.17pt\"></span></span><span class=\"ps7464\">146</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7472 ss592\"><div><div class=\"ps7469 ss48\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.17pt\"></span></span><span class=\"ps7464\">187</span></span></div></div></div></td></tr><tr style=\"height:29.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6288 ss593\"><div><div class=\"ps7473 ss586\"><span class=\"f charStyle-1bac868e ps630\">Options not considered as contingent considerations for revenue recognition <span class=\"f ps40\"> </span></span></div><div class=\"ps7474 ss586\"><span class=\"f charStyle-1bac868e ps630\">purposes</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7475 ss594\"><div><div class=\"ps6897 ss48\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.02pt\"></span></span><span class=\"ps7470\">41</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7476 ss594\"><div><div class=\"ps6897 ss48\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.17pt\"></span></span><span class=\"ps7464\">146</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7477 ss594\"><div><div class=\"ps6897 ss48\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.17pt\"></span></span><span class=\"ps7464\">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=\"ps5162 ss589\"><div><div class=\"ps741 ss586\"><span class=\"f charStyle-23b55a92 ps39\">Total as of 31 December 2025<span class=\"f ps40\"> </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=\"ps7479 ss590\"><div><div class=\"ps741 ss48\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:45.21pt\"></span></span><span class=\"ps7478\">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=\"ps7481 ss590\"><div><div class=\"ps741 ss48\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.61pt\"></span></span><span class=\"ps7480\">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=\"ps7482 ss590\"><div><div class=\"ps741 ss48\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.61pt\"></span></span><span class=\"ps7480\">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=\"ps2210 ss589\"><div><div class=\"ps741 ss586\"><span class=\"f charStyle-1bac868e ps630\">Firm, excluding options<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7483 ss590\"><div><div class=\"ps741 ss48\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.17pt\"></span></span><span class=\"ps7464\">372</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7484 ss590\"><div><div class=\"ps741 ss48\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.37pt\"></span></span><span class=\"ps7466\">1,534</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7485 ss590\"><div><div class=\"ps741 ss48\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.37pt\"></span></span><span class=\"ps7466\">1,906</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps1041 ss587\"><div><div class=\"ps2702 ss586\"><span class=\"f charStyle-1bac868e ps630\">Options considered as contingent considerations for revenue recognition purposes<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7486 ss419\"><div><div class=\"ps2702 ss48\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.02pt\"></span></span><span class=\"ps7470\">28</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7487 ss419\"><div><div class=\"ps2702 ss48\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.17pt\"></span></span><span class=\"ps7464\">187</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7488 ss419\"><div><div class=\"ps2702 ss48\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.17pt\"></span></span><span class=\"ps7464\">215</span></span></div></div></div></td></tr><tr style=\"height:27pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps63 ss591\"><div><div class=\"ps7489 ss586\"><span class=\"f charStyle-1bac868e ps630\">Options not considered as contingent considerations for revenue recognition <span class=\"f ps40\"> </span></span></div><div class=\"ps7490 ss586\"><span class=\"f charStyle-1bac868e ps630\">purposes</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7491 ss592\"><div><div class=\"ps7469 ss48\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.02pt\"></span></span><span class=\"ps7470\">28</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7492 ss592\"><div><div class=\"ps7469 ss48\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.17pt\"></span></span><span class=\"ps7464\">187</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7493 ss592\"><div><div class=\"ps7469 ss48\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.17pt\"></span></span><span class=\"ps7464\">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=\"ps3987 ss589\"><div><div class=\"ps741 ss586\"><span class=\"f charStyle-23b55a92 ps39\">Total as of 31 December 2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7494 ss590\"><div><div class=\"ps741 ss48\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:45.21pt\"></span></span><span class=\"ps7478\">428</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7495 ss590\"><div><div class=\"ps741 ss48\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.61pt\"></span></span><span class=\"ps7480\">1,908</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7496 ss590\"><div><div class=\"ps741 ss48\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.61pt\"></span></span><span class=\"ps7480\">2,336</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps3996 ss589\"><div><div class=\"ps741 ss586\"><span class=\"f charStyle-1bac868e ps630\">Firm, excluding options<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7497 ss590\"><div><div class=\"ps741 ss48\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.17pt\"></span></span><span class=\"ps7464\">176</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7498 ss590\"><div><div class=\"ps741 ss48\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.37pt\"></span></span><span class=\"ps7466\">1,201</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7499 ss590\"><div><div class=\"ps741 ss48\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.37pt\"></span></span><span class=\"ps7466\">1,377</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"padding:0\"><div class=\"ps3778 ss595\"><div><div class=\"ps2573 ss586\"><span class=\"f charStyle-1bac868e ps630\">Options considered as contingent considerations for revenue recognition purposes<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7500 ss596\"><div><div class=\"ps2573 ss48\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.02pt\"></span></span><span class=\"ps7470\">16</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7501 ss596\"><div><div class=\"ps2573 ss48\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.17pt\"></span></span><span class=\"ps7464\">163</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7502 ss596\"><div><div class=\"ps2573 ss48\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.17pt\"></span></span><span class=\"ps7464\">179</span></span></div></div></div></td></tr><tr style=\"height:27pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7503 ss591\"><div><div class=\"ps7489 ss586\"><span class=\"f charStyle-1bac868e ps630\">Options not considered as contingent considerations for revenue recognition <span class=\"f ps40\"> </span></span></div><div class=\"ps7490 ss586\"><span class=\"f charStyle-1bac868e ps630\">purposes</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7504 ss592\"><div><div class=\"ps7469 ss48\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.02pt\"></span></span><span class=\"ps7470\">16</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7505 ss592\"><div><div class=\"ps7469 ss48\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.17pt\"></span></span><span class=\"ps7464\">163</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7506 ss592\"><div><div class=\"ps7469 ss48\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.17pt\"></span></span><span class=\"ps7464\">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=\"ps7507 ss589\"><div><div class=\"ps741 ss586\"><span class=\"f charStyle-23b55a92 ps39\">Total as of 31 December 2023<span class=\"f ps40\"> </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=\"ps7508 ss590\"><div><div class=\"ps741 ss48\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:45.21pt\"></span></span><span class=\"ps7478\">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=\"ps7509 ss590\"><div><div class=\"ps741 ss48\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.61pt\"></span></span><span class=\"ps7480\">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=\"ps7510 ss590\"><div><div class=\"ps741 ss48\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.61pt\"></span></span><span class=\"ps7480\">1,735</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7514 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps7513\">Total contract backlog represents estimated transaction price for unfulfilled performance obligations, including both fixed and variable </span></div><div class=\"ps7515 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps7513\">consideration. Options that are considered for revenue recognition purposes and options not considered for revenue recognition purpose, </span></div><div class=\"ps7519 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps7513\">represent </span><span class=\"f charStyle-c1b8f9f6 ps7516\">50%</span><span class=\"f charStyle-c1b8f9f6 ps7517\"> </span><span class=\"f charStyle-c1b8f9f6 ps7518\">each of the variable portion of the backlog. Contract backlog excludes vessel reservation agreements. All contracts may be </span></div><div class=\"ps7520 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps7513\">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 ps183\">Note 3</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Revenue<span id=\"i9ec2534994d34dcf8fb0d2e082dba537\"></span></span></div><div class=\"ps6975 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-cd31f1a5 ps183\">Continued from previous page</span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Contract costs, assets and deferred revenue <span id=\"i4db003fb666746b985ec6a17ea6ce276\"></span></span></div><div class=\"ps369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Customers are typically invoiced monthly, when the vessels are on contract, with normal payment terms </span></div><div class=\"ps370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">between 30</span><span class=\"f charStyle-c1b8f9f6 ps7522\">-60</span><span class=\"f charStyle-c1b8f9f6 ps7523\"> days.</span><span class=\"f charStyle-c1b8f9f6 ps7524\"> Payment terms with customers are considered industry standard and do not include a </span></div><div class=\"ps397 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">significant financing component. To the extent possible, we obtain payment guarantees to minimise the </span></div><div class=\"ps7437 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">credit risk during the contract term.</span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">S</span><span class=\"f charStyle-c1b8f9f6 ps7525\">ometimes revenue is recognised for work performed prior to issuance of invoice to customer and it will be </span></div><div class=\"ps374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">reported as a contract asset. For more information about contract assets at the reporting period, refer to </span></div><div class=\"ps375 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 16. When the right to consideration is conditional only on the passage of time, the balance does not </span></div><div class=\"ps376 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">meet the definition of a contract asset and is classified as an u</span><span class=\"f charStyle-c1b8f9f6 ps7526\">nbilled receivable</span><span class=\"f charStyle-c1b8f9f6 ps7527\">. This typically arises where </span></div><div class=\"ps398 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the timing of the related billing cycle occurs in a period after the performance obligation is satisfied.</span></div><div class=\"ps378 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Deferred revenue relates to consideration received from customers for unsatisfied performance obligations. </span></div><div class=\"ps379 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Revenue will be recognised when the related services are provided to the customers, which is almost </span></div><div class=\"ps380 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">entirely within </span><span class=\"f charStyle-c1b8f9f6 ps7528\">12 months</span><span class=\"f charStyle-c1b8f9f6 ps7529\">.</span></div><div class=\"ps7457 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Incremental costs of obtaining a contract and certain costs to fulfil a contract to be recognised as a </span></div><div class=\"ps382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">contract asset if certain criteria are met. Any capitalised contract assets</span><span class=\"f charStyle-c1b8f9f6 ps7530\"> are amortised on a systematic basis </span></div><div class=\"ps383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">that is consistent with the transfer of the related goods or services to the customer.</span></div><div class=\"ps7561 ss0\"><div class=\"ss600 ws0 ps7311\"><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=\"ps37 ss599\"><div><div class=\"ps7459 ss598\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7532 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-281247bf ps6312\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6859 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-054ead99 ps6312\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2067 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-054ead99 ps6312\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps1987 ss599\"><div><div class=\"ps2702 ss598\"><span class=\"f charStyle-b07b4361 ps39\">Beginning of financial year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7533 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6317\">47,337</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7534 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6317\">13,881</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7535 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">3,157</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps7536 ss599\"><div><div class=\"ps2702 ss598\"><span class=\"f charStyle-1bac868e ps630\">Acquisition of businesses<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7537 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6343\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7538 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6343\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7539 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">1,913</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps7540 ss599\"><div><div class=\"ps2702 ss598\"><span class=\"f charStyle-1bac868e ps630\">Deferred during the period<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7541 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.17pt\"></span></span><span class=\"ps6353\">158,739</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7542 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6317\">45,360</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7543 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6317\">10,670</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps2306 ss599\"><div><div class=\"ps2702 ss598\"><span class=\"f charStyle-1bac868e ps630\">Recognised as revenue during the period<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7545 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.6pt\"></span></span><span class=\"ps7544\">(46,459)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7546 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.6pt\"></span></span><span class=\"ps7544\">(11,928)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7548 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:20.45pt\"></span></span><span class=\"ps7547\">(1,859)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps492 ss599\"><div><div class=\"ps2702 ss598\"><span class=\"f charStyle-1bac868e ps630\">Exchange differences<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7549 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6343\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7550 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.52pt\"></span></span><span class=\"ps6373\">24</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7551 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6343\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps1041 ss599\"><div><div class=\"ps2702 ss598\"><span class=\"f charStyle-b07b4361 ps39\">Total deferred revenue at end of period<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7552 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.77pt\"></span></span><span class=\"ps6379\">159,617</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7553 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7402\">47,337</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7554 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7402\">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=\"ps63 ss599\"><div><div class=\"ps2702 ss598\"><span class=\"f charStyle-b07b4361 ps39\">Current<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7555 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.77pt\"></span></span><span class=\"ps6379\">128,716</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps6900 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7402\">45,590</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7556 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7402\">12,103</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5711 ss599\"><div><div class=\"ps2702 ss598\"><span class=\"f charStyle-b07b4361 ps39\">Non-current<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7557 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7402\">30,901</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7559 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.11pt\"></span></span><span class=\"ps7558\">1,747</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7560 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.11pt\"></span></span><span class=\"ps7558\">1,778</span></span></div></div></div></td></tr></tbody></table></div></div></div></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies for revenue from contracts with <span id=\"i17b5a42201704d018ec5535d4cbb9e0b\"></span></span></div><div class=\"ps7569 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">customers</span></div><div class=\"ps7570 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">We initially assess whether the contracts contain a lease component. </span></div><div class=\"ps7571 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In general, we have determined that our contracts consist of a leasing </span></div><div class=\"ps7572 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">component (the element relating to hire of the vessel) and a service </span></div><div class=\"ps7573 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">component. These components are not treated or priced separately </span></div><div class=\"ps7574 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">in the contracts, nor does the Group offer either of the services </span></div><div class=\"ps7049 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">separately. The service component is within the scope of IFRS 15, </span></div><div class=\"ps7050 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">while the leasing component is within the scope of IFRS 16. The lease </span></div><div class=\"ps7051 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">components are classified as an operating lease, as such leases do </span></div><div class=\"ps7083 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">not cover a significant part of the economic life of the vessels and the </span></div><div class=\"ps7084 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Group retains substantially all risks and rewards incidental to </span></div><div class=\"ps297 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">ownership of the vessels. The leasing component is recognised as </span></div><div class=\"ps298 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">revenue over time over the charter period. Prepayments from </span></div><div class=\"ps299 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">customers for the leasing component are recognised as deferred </span></div><div class=\"ps300 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">revenue.</span></div><div class=\"ps7025 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Once the service component has been determined to be within the </span></div><div class=\"ps302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">scope of IFRS 15, the Group performs the following five steps on a </span></div><div class=\"ps303 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">contract-by-contract basis: (i) identify the contract(s) with a customer; </span></div><div class=\"ps304 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">(ii) identify the performance obligations in the contract; (iii) determine </span></div><div class=\"ps7575 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the transaction price; (iv) allocate the transaction price to the </span></div><div class=\"ps7576 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">performance obligations in the contract; and (v) recognise revenue </span></div><div class=\"ps7577 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">when (or as) the Group satisfies a performance obligation.</span></div><div class=\"ps7028 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Our contracts with customers are complex and normally contains </span></div><div class=\"ps2570 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">multiple types of promises to the customer. At contract inception, </span></div><div class=\"ps7029 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">judgement is performed when determining if a contract contains one </span></div><div class=\"ps3231 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">or more performance obligations. The Group assesses the goods and </span></div><div class=\"ps7030 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">services promised within each contract and identifies as a </span></div><div class=\"ps7032 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">performance obligation each good or service that is distinct. </span></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">Revenue from transportation and installation activities may, </span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">depending on the contract, represent one or more performance </span></div><div class=\"ps7161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">obligations. In respect of T&amp;I service components, the following main </span></div><div class=\"ps7164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">promises apply: Planning and engineering, Transport of monopiles </span></div><div class=\"ps7578 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">and secondary steel from supply port to feeder port, Installation of </span></div><div class=\"ps7579 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">monopiles and secondary steel offshore, Storage and handling at </span></div><div class=\"ps6936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">feeder port, and Warranty. While the contracts contain several </span></div><div class=\"ps6937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">distinct promises, these are considered less interdependent and </span></div><div class=\"ps6940 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">interrelated and as such are considered multiple performance </span></div><div class=\"ps2794 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">obligations.</span></div><div class=\"ps7167 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">Revenue is generally recognised over time as the service is being </span></div><div class=\"ps7173 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">provided using a method, depending on what better depicts the </span></div><div class=\"ps7174 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">progress of each separate performance obligation, as detailed below:</span></div><div class=\"ps7599 ss0\"><div class=\"ss607 ws0 ps7598\"><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=\"ps37 ss430\"><div><div class=\"ps7581 ss429\"><span class=\"f charStyle-b77d0160 ps39\">Performance obligations in T&amp;I <span class=\"f ps40\"> </span></span></div><div class=\"ps7582 ss429\"><span class=\"f charStyle-b77d0160 ps39\">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=\"ps7583 ss601\"><div><div class=\"ps7581 ss338\"><span class=\"f charStyle-b77d0160 ps39\">Recognition of <span class=\"f ps40\"> </span></span></div><div class=\"ps7582 ss338\"><span class=\"f charStyle-b77d0160 ps39\">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=\"ps7585 ss603\"><div><div class=\"ps7584 ss602\"><span class=\"f charStyle-b77d0160 ps39\">Measure of progress<span class=\"f ps40\"> </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=\"ps439 ss604\"><div><div class=\"ps7586 ss429\"><span class=\"f charStyle-cc5e4236 ps39\">Planning and engineering services to the <span class=\"f ps40\"> </span></span></div><div class=\"ps7587 ss429\"><span class=\"f charStyle-cc5e4236 ps39\">customer.</span></div></div></div></td><td style=\"background-color:#ffffff;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7588 ss605\"><div><div class=\"ps7214 ss338\"><span class=\"f charStyle-cc5e4236 ps39\">Over time<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7591 ss606\"><div><div class=\"ps7589 ss602\"><span class=\"f charStyle-cc5e4236 ps39\">Total costs incurred to date <span class=\"f ps40\"> </span></span></div><div class=\"ps7214 ss602\"><span class=\"f charStyle-cc5e4236 ps39\">compared with total forecast </span></div><div class=\"ps7590 ss602\"><span class=\"f charStyle-cc5e4236 ps39\">costs at completion</span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps3743 ss604\"><div><div class=\"ps7589 ss429\"><span class=\"f charStyle-cc5e4236 ps39\">Transportation of monopiles and <span class=\"f ps40\"> </span></span></div><div class=\"ps7214 ss429\"><span class=\"f charStyle-cc5e4236 ps39\">secondary steel from supply port to </span></div><div class=\"ps7590 ss429\"><span class=\"f charStyle-cc5e4236 ps39\">feeder port</span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7592 ss605\"><div><div class=\"ps7214 ss338\"><span class=\"f charStyle-cc5e4236 ps39\">Over time<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7593 ss606\"><div><div class=\"ps7586 ss602\"><span class=\"f charStyle-cc5e4236 ps39\">Total time spend compared <span class=\"f ps40\"> </span></span></div><div class=\"ps7587 ss602\"><span class=\"f charStyle-cc5e4236 ps39\">with total forecast time</span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps1808 ss604\"><div><div class=\"ps7586 ss429\"><span class=\"f charStyle-cc5e4236 ps39\">Storage and handling of the material used <span class=\"f ps40\"> </span></span></div><div class=\"ps7587 ss429\"><span class=\"f charStyle-cc5e4236 ps39\">in the installation</span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps7594 ss605\"><div><div class=\"ps7214 ss338\"><span class=\"f charStyle-cc5e4236 ps39\">Over time<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps7595 ss606\"><div><div class=\"ps7586 ss602\"><span class=\"f charStyle-cc5e4236 ps39\">Total time spend compared <span class=\"f ps40\"> </span></span></div><div class=\"ps7587 ss602\"><span class=\"f charStyle-cc5e4236 ps39\">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=\"ps55 ss604\"><div><div class=\"ps7586 ss429\"><span class=\"f charStyle-cc5e4236 ps39\">Installation of monopiles and secondary <span class=\"f ps40\"> </span></span></div><div class=\"ps7587 ss429\"><span class=\"f charStyle-cc5e4236 ps39\">steel offshore</span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7596 ss605\"><div><div class=\"ps7214 ss338\"><span class=\"f charStyle-cc5e4236 ps39\">Over time<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7597 ss606\"><div><div class=\"ps7586 ss602\"><span class=\"f charStyle-cc5e4236 ps39\">Total time spend compared <span class=\"f ps40\"> </span></span></div><div class=\"ps7587 ss602\"><span class=\"f charStyle-cc5e4236 ps39\">with total forecast time</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7600 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">While time-charter contracts contain several promises, these are </span></div><div class=\"ps7601 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">usually considered highly interdependent and highly interrelated and </span></div><div class=\"ps7602 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">as such considered as one single performance obligation recognised </span></div><div class=\"ps7603 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">over time applying a relevant measured of progress, usually output </span></div><div class=\"ps7604 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">method based on time.</span></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">The Group is sometimes providing bunker procurement services to </span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">help customers ensure that sufficient bunker is available to operate </span></div><div class=\"ps7161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">the vessels at the right time and in the right quality and quantity. </span></div><div class=\"ps7164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Management\u2019s assessment of whether a principal or agent </span></div><div class=\"ps7578 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">relationship exists is based upon whether the Group has the ability to </span></div><div class=\"ps7579 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">control the goods before they are transferred to the customer. This </span></div><div class=\"ps6936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">assessment is performed on a contract-by-contract basis at contract </span></div><div class=\"ps6937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">inception and takes into account various factors such as whether the </span></div><div class=\"ps6940 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Group takes legal title of the bunker and has the ability to direct the </span></div><div class=\"ps2794 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">use of the bunker. The fees earned are recognized as revenue over </span></div><div class=\"ps2795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">the service period.</span></div><div class=\"ps7173 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Revenue is recognised when control of the services is transferred to </span></div><div class=\"ps7174 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">the customer at an amount that reflects the consideration to which </span></div><div class=\"ps7175 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">the Group expects to be entitled in exchange for those services. </span></div><div class=\"ps7177 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Revenue is recognised in the amount of the transaction price that is </span></div><div class=\"ps2800 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">allocated to the respective performance obligations when (or as) the </span></div><div class=\"ps2801 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">performance obligation is satisfied. </span></div><div class=\"ps7170 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Variable consideration, for example in respect of weather days and </span></div><div class=\"ps7171 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">extension of time, steel price or bunker price etc, is constrained at </span></div><div class=\"ps7172 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">contract inception to the extent that it is highly probable that a </span></div><div class=\"ps6944 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">significant reversal in the amount of cumulative revenue recognised </span></div><div class=\"ps7605 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">will not occur when the uncertainty associated with the variable </span></div><div class=\"ps7606 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">consideration is subsequently resolved.</span></div><div class=\"ps7607 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">The Group provides warranties for repair of defects which are </span></div><div class=\"ps7608 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">identified during the contract and within a defined period thereafter. </span></div><div class=\"ps7609 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">In general, all are assurance-type warranties, as defined within IFRS </span></div><div class=\"ps7612 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">15, which the Group recognises under I</span><span class=\"f charStyle-c1b8f9f6 ps7610\">AS 37.</span><span class=\"f charStyle-c1b8f9f6 ps7611\"> Compensation </span></div><div class=\"ps7613 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">received, or receivable, for early termination are recognised as </span></div><div class=\"ps7614 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">revenue with deferral of an estimated value of any obligations to </span></div><div class=\"ps7615 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">standing ready for new engagements in the remaining contract </span></div><div class=\"ps7616 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">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-523": {
   "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-524": {
   "value": "<div class=\"ps370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps7253\">Operating segments </span></div><div class=\"ps7140 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps7253\">The Group\u2019s </span><span class=\"f charStyle-c1b8f9f6 ps7254\">nine</span><span class=\"f charStyle-c1b8f9f6 ps7255\"> windfarm installation vessels (WFIVs) operate in a global market and are often redeployed </span></div><div class=\"ps7256 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps7253\">to different regions due to changing customers or contracts. Accordingly, the Group reports its operations </span></div><div class=\"ps7257 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps7253\">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-525": {
   "value": "<div class=\"ps7314 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Major customers <span id=\"i48dffa16f79849508779122d743989f0\"></span></span></div><div class=\"ps7319 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-e3ca0184 ps183\">For the year ended </span><span class=\"f charStyle-e3ca0184 ps7315\">31\u00a0December 2025</span><span class=\"f charStyle-e3ca0184 ps7316\">, revenue from </span><span class=\"f charStyle-e3ca0184 ps7317\">3</span><span class=\"f charStyle-e3ca0184 ps7318\"> customers each exceeded 10% of total revenue. The </span></div><div class=\"ps7332 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-e3ca0184 ps183\">revenue derived from these three customers was </span><span class=\"f charStyle-e3ca0184 ps7320\">EUR</span><span class=\"f charStyle-e3ca0184 ps7321\"> </span><span class=\"f charStyle-e3ca0184 ps7322\">312\u00a0million</span><span class=\"f charStyle-e3ca0184 ps7323\">, </span><span class=\"f charStyle-e3ca0184 ps7324\">EUR</span><span class=\"f charStyle-e3ca0184 ps7325\"> </span><span class=\"f charStyle-e3ca0184 ps7326\">110\u00a0million</span><span class=\"f charStyle-e3ca0184 ps7327\">, </span><span class=\"f charStyle-e3ca0184 ps7328\">EUR</span><span class=\"f charStyle-e3ca0184 ps7329\"> </span><span class=\"f charStyle-e3ca0184 ps7330\">72\u00a0million</span><span class=\"f charStyle-e3ca0184 ps7331\"> respectively.</span></div><div class=\"ps3380 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">For the year ended </span><span class=\"f charStyle-c1b8f9f6 ps7333\">31\u00a0December 2024</span><span class=\"f charStyle-c1b8f9f6 ps7334\">, revenue from four customers each exceeded 10% of total revenue. </span></div><div class=\"ps6980 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The revenue derived from these four customers w</span><span class=\"f charStyle-c1b8f9f6 ps7335\">as </span><span class=\"f charStyle-c1b8f9f6 ps7336\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7337\"> </span><span class=\"f charStyle-c1b8f9f6 ps7338\">60\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\">58\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7343\">, </span><span class=\"f charStyle-c1b8f9f6 ps7344\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7345\"> </span><span class=\"f charStyle-c1b8f9f6 ps7346\">56\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7347\"> and </span></div><div class=\"ps6981 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">36\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7348\"> respectively. </span></div><div class=\"ps7350 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">For the year ended </span><span class=\"f charStyle-c1b8f9f6 ps7333\">31\u00a0December 2023</span><span class=\"f charStyle-c1b8f9f6 ps7349\">, revenue from three customers each exceeded 10% of total revenue. </span></div><div class=\"ps6985 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The revenue derived from these three customers was </span><span class=\"f charStyle-c1b8f9f6 ps7351\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7352\"> </span><span class=\"f charStyle-c1b8f9f6 ps7353\">44.5\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7354\">, </span><span class=\"f charStyle-c1b8f9f6 ps7355\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7356\"> </span><span class=\"f charStyle-c1b8f9f6 ps7357\">28.5</span><span class=\"f charStyle-c1b8f9f6 ps7358\"> and </span><span class=\"f charStyle-c1b8f9f6 ps7359\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps4993\"> </span><span class=\"f charStyle-c1b8f9f6 ps7360\">22.7\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7361\"> </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-526": {
   "value": "<div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies for revenue from contracts with <span id=\"i17b5a42201704d018ec5535d4cbb9e0b\"></span></span></div><div class=\"ps7569 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">customers</span></div><div class=\"ps7570 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">We initially assess whether the contracts contain a lease component. </span></div><div class=\"ps7571 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In general, we have determined that our contracts consist of a leasing </span></div><div class=\"ps7572 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">component (the element relating to hire of the vessel) and a service </span></div><div class=\"ps7573 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">component. These components are not treated or priced separately </span></div><div class=\"ps7574 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">in the contracts, nor does the Group offer either of the services </span></div><div class=\"ps7049 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">separately. The service component is within the scope of IFRS 15, </span></div><div class=\"ps7050 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">while the leasing component is within the scope of IFRS 16. The lease </span></div><div class=\"ps7051 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">components are classified as an operating lease, as such leases do </span></div><div class=\"ps7083 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">not cover a significant part of the economic life of the vessels and the </span></div><div class=\"ps7084 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Group retains substantially all risks and rewards incidental to </span></div><div class=\"ps297 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">ownership of the vessels. The leasing component is recognised as </span></div><div class=\"ps298 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">revenue over time over the charter period. Prepayments from </span></div><div class=\"ps299 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">customers for the leasing component are recognised as deferred </span></div><div class=\"ps300 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">revenue.</span></div><div class=\"ps7025 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Once the service component has been determined to be within the </span></div><div class=\"ps302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">scope of IFRS 15, the Group performs the following five steps on a </span></div><div class=\"ps303 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">contract-by-contract basis: (i) identify the contract(s) with a customer; </span></div><div class=\"ps304 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">(ii) identify the performance obligations in the contract; (iii) determine </span></div><div class=\"ps7575 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the transaction price; (iv) allocate the transaction price to the </span></div><div class=\"ps7576 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">performance obligations in the contract; and (v) recognise revenue </span></div><div class=\"ps7577 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">when (or as) the Group satisfies a performance obligation.</span></div><div class=\"ps7028 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Our contracts with customers are complex and normally contains </span></div><div class=\"ps2570 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">multiple types of promises to the customer. At contract inception, </span></div><div class=\"ps7029 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">judgement is performed when determining if a contract contains one </span></div><div class=\"ps3231 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">or more performance obligations. The Group assesses the goods and </span></div><div class=\"ps7030 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">services promised within each contract and identifies as a </span></div><div class=\"ps7032 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">performance obligation each good or service that is distinct. </span></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">Revenue from transportation and installation activities may, </span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">depending on the contract, represent one or more performance </span></div><div class=\"ps7161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">obligations. In respect of T&amp;I service components, the following main </span></div><div class=\"ps7164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">promises apply: Planning and engineering, Transport of monopiles </span></div><div class=\"ps7578 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">and secondary steel from supply port to feeder port, Installation of </span></div><div class=\"ps7579 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">monopiles and secondary steel offshore, Storage and handling at </span></div><div class=\"ps6936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">feeder port, and Warranty. While the contracts contain several </span></div><div class=\"ps6937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">distinct promises, these are considered less interdependent and </span></div><div class=\"ps6940 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">interrelated and as such are considered multiple performance </span></div><div class=\"ps2794 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">obligations.</span></div><div class=\"ps7167 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">Revenue is generally recognised over time as the service is being </span></div><div class=\"ps7173 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">provided using a method, depending on what better depicts the </span></div><div class=\"ps7174 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">progress of each separate performance obligation, as detailed below:</span></div><div class=\"ps7599 ss0\"><div class=\"ss607 ws0 ps7598\"><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=\"ps37 ss430\"><div><div class=\"ps7581 ss429\"><span class=\"f charStyle-b77d0160 ps39\">Performance obligations in T&amp;I <span class=\"f ps40\"> </span></span></div><div class=\"ps7582 ss429\"><span class=\"f charStyle-b77d0160 ps39\">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=\"ps7583 ss601\"><div><div class=\"ps7581 ss338\"><span class=\"f charStyle-b77d0160 ps39\">Recognition of <span class=\"f ps40\"> </span></span></div><div class=\"ps7582 ss338\"><span class=\"f charStyle-b77d0160 ps39\">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=\"ps7585 ss603\"><div><div class=\"ps7584 ss602\"><span class=\"f charStyle-b77d0160 ps39\">Measure of progress<span class=\"f ps40\"> </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=\"ps439 ss604\"><div><div class=\"ps7586 ss429\"><span class=\"f charStyle-cc5e4236 ps39\">Planning and engineering services to the <span class=\"f ps40\"> </span></span></div><div class=\"ps7587 ss429\"><span class=\"f charStyle-cc5e4236 ps39\">customer.</span></div></div></div></td><td style=\"background-color:#ffffff;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7588 ss605\"><div><div class=\"ps7214 ss338\"><span class=\"f charStyle-cc5e4236 ps39\">Over time<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7591 ss606\"><div><div class=\"ps7589 ss602\"><span class=\"f charStyle-cc5e4236 ps39\">Total costs incurred to date <span class=\"f ps40\"> </span></span></div><div class=\"ps7214 ss602\"><span class=\"f charStyle-cc5e4236 ps39\">compared with total forecast </span></div><div class=\"ps7590 ss602\"><span class=\"f charStyle-cc5e4236 ps39\">costs at completion</span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps3743 ss604\"><div><div class=\"ps7589 ss429\"><span class=\"f charStyle-cc5e4236 ps39\">Transportation of monopiles and <span class=\"f ps40\"> </span></span></div><div class=\"ps7214 ss429\"><span class=\"f charStyle-cc5e4236 ps39\">secondary steel from supply port to </span></div><div class=\"ps7590 ss429\"><span class=\"f charStyle-cc5e4236 ps39\">feeder port</span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7592 ss605\"><div><div class=\"ps7214 ss338\"><span class=\"f charStyle-cc5e4236 ps39\">Over time<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7593 ss606\"><div><div class=\"ps7586 ss602\"><span class=\"f charStyle-cc5e4236 ps39\">Total time spend compared <span class=\"f ps40\"> </span></span></div><div class=\"ps7587 ss602\"><span class=\"f charStyle-cc5e4236 ps39\">with total forecast time</span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps1808 ss604\"><div><div class=\"ps7586 ss429\"><span class=\"f charStyle-cc5e4236 ps39\">Storage and handling of the material used <span class=\"f ps40\"> </span></span></div><div class=\"ps7587 ss429\"><span class=\"f charStyle-cc5e4236 ps39\">in the installation</span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps7594 ss605\"><div><div class=\"ps7214 ss338\"><span class=\"f charStyle-cc5e4236 ps39\">Over time<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps7595 ss606\"><div><div class=\"ps7586 ss602\"><span class=\"f charStyle-cc5e4236 ps39\">Total time spend compared <span class=\"f ps40\"> </span></span></div><div class=\"ps7587 ss602\"><span class=\"f charStyle-cc5e4236 ps39\">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=\"ps55 ss604\"><div><div class=\"ps7586 ss429\"><span class=\"f charStyle-cc5e4236 ps39\">Installation of monopiles and secondary <span class=\"f ps40\"> </span></span></div><div class=\"ps7587 ss429\"><span class=\"f charStyle-cc5e4236 ps39\">steel offshore</span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7596 ss605\"><div><div class=\"ps7214 ss338\"><span class=\"f charStyle-cc5e4236 ps39\">Over time<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7597 ss606\"><div><div class=\"ps7586 ss602\"><span class=\"f charStyle-cc5e4236 ps39\">Total time spend compared <span class=\"f ps40\"> </span></span></div><div class=\"ps7587 ss602\"><span class=\"f charStyle-cc5e4236 ps39\">with total forecast time</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7600 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">While time-charter contracts contain several promises, these are </span></div><div class=\"ps7601 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">usually considered highly interdependent and highly interrelated and </span></div><div class=\"ps7602 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">as such considered as one single performance obligation recognised </span></div><div class=\"ps7603 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">over time applying a relevant measured of progress, usually output </span></div><div class=\"ps7604 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">method based on time.</span></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">The Group is sometimes providing bunker procurement services to </span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">help customers ensure that sufficient bunker is available to operate </span></div><div class=\"ps7161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">the vessels at the right time and in the right quality and quantity. </span></div><div class=\"ps7164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Management\u2019s assessment of whether a principal or agent </span></div><div class=\"ps7578 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">relationship exists is based upon whether the Group has the ability to </span></div><div class=\"ps7579 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">control the goods before they are transferred to the customer. This </span></div><div class=\"ps6936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">assessment is performed on a contract-by-contract basis at contract </span></div><div class=\"ps6937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">inception and takes into account various factors such as whether the </span></div><div class=\"ps6940 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Group takes legal title of the bunker and has the ability to direct the </span></div><div class=\"ps2794 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">use of the bunker. The fees earned are recognized as revenue over </span></div><div class=\"ps2795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">the service period.</span></div><div class=\"ps7173 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Revenue is recognised when control of the services is transferred to </span></div><div class=\"ps7174 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">the customer at an amount that reflects the consideration to which </span></div><div class=\"ps7175 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">the Group expects to be entitled in exchange for those services. </span></div><div class=\"ps7177 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Revenue is recognised in the amount of the transaction price that is </span></div><div class=\"ps2800 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">allocated to the respective performance obligations when (or as) the </span></div><div class=\"ps2801 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">performance obligation is satisfied. </span></div><div class=\"ps7170 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Variable consideration, for example in respect of weather days and </span></div><div class=\"ps7171 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">extension of time, steel price or bunker price etc, is constrained at </span></div><div class=\"ps7172 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">contract inception to the extent that it is highly probable that a </span></div><div class=\"ps6944 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">significant reversal in the amount of cumulative revenue recognised </span></div><div class=\"ps7605 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">will not occur when the uncertainty associated with the variable </span></div><div class=\"ps7606 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">consideration is subsequently resolved.</span></div><div class=\"ps7607 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">The Group provides warranties for repair of defects which are </span></div><div class=\"ps7608 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">identified during the contract and within a defined period thereafter. </span></div><div class=\"ps7609 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">In general, all are assurance-type warranties, as defined within IFRS </span></div><div class=\"ps7612 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">15, which the Group recognises under I</span><span class=\"f charStyle-c1b8f9f6 ps7610\">AS 37.</span><span class=\"f charStyle-c1b8f9f6 ps7611\"> Compensation </span></div><div class=\"ps7613 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">received, or receivable, for early termination are recognised as </span></div><div class=\"ps7614 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">revenue with deferral of an estimated value of any obligations to </span></div><div class=\"ps7615 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">standing ready for new engagements in the remaining contract </span></div><div class=\"ps7616 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">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-527": {
   "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 ps183\">Note 4</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Operating Expenses<span id=\"i0e38814d230d425aa19c43cb8e0bc1ea\"></span></span></div><div class=\"ps7684 ss0\"><div class=\"ss613 ws0 ps67\"><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=\"ps37 ss608\"><div><div class=\"ps7618 ss317\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7620 ss609\"><div><div class=\"ps4441 ss224\"><span class=\"f charStyle-054ead99 ps7619\">Note<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7622 ss609\"><div><div class=\"ps4441 ss224\"><span class=\"f charStyle-281247bf ps7621\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7623 ss609\"><div><div class=\"ps4441 ss224\"><span class=\"f charStyle-054ead99 ps7621\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7624 ss609\"><div><div class=\"ps4441 ss224\"><span class=\"f charStyle-054ead99 ps7621\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:26.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps439 ss610\"><div><div class=\"ps3894 ss317\"><span class=\"f charStyle-b07b4361 ps39\">Cost of sales<span class=\"f ps40\"> </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=\"ps2069 ss611\"><div><div class=\"ps748 ss317\"><span class=\"f charStyle-1bac868e ps630\">Right-of-use asset depreciation<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7625 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44 ps5200\">14<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7627 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.22pt\"></span></span><span class=\"ps7626\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7629 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.67pt\"></span></span><span class=\"ps7628\">235</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7631 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.52pt\"></span></span><span class=\"ps7630\">30</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps2138 ss611\"><div><div class=\"ps748 ss317\"><span class=\"f charStyle-1bac868e ps630\">Insurance<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7633 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7632\">6,268</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7634 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7632\">2,754</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7635 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7632\">1,573</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps653 ss611\"><div><div class=\"ps748 ss317\"><span class=\"f charStyle-1bac868e ps630\">Vessel depreciation<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7636 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44 ps5200\">13<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7638 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.17pt\"></span></span><span class=\"ps7637\">104,042</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7640 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7639\">53,696</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7641 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7639\">22,484</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps6725 ss611\"><div><div class=\"ps748 ss317\"><span class=\"f charStyle-1bac868e ps630\">Impairment of property, plant and equipment<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7642 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44 ps5200\">13<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7643 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.22pt\"></span></span><span class=\"ps7626\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7644 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.22pt\"></span></span><span class=\"ps7626\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7645 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7632\">5,000</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps7396 ss611\"><div><div class=\"ps748 ss317\"><span class=\"f charStyle-1bac868e ps630\">Seafarer payroll<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7646 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44 ps5215\">6<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7647 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7639\">50,088</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7648 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7639\">32,285</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7649 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7639\">15,921</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps1827 ss611\"><div><div class=\"ps748 ss317\"><span class=\"f charStyle-1bac868e ps630\">Fuel and oil<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7650 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7632\">7,928</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7651 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7632\">2,976</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7652 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.67pt\"></span></span><span class=\"ps7628\">711</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps7653 ss611\"><div><div class=\"ps748 ss317\"><span class=\"f charStyle-1bac868e ps630\">Maintenance<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7654 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7639\">17,878</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7655 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7632\">7,886</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7656 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7632\">5,121</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps4643 ss611\"><div><div class=\"ps748 ss317\"><span class=\"f charStyle-1bac868e ps630\">Messing costs<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7657 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7632\">5,270</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7658 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7632\">2,948</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7659 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7632\">1,448</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps6442 ss611\"><div><div class=\"ps748 ss317\"><span class=\"f charStyle-1bac868e ps630\">Seafarer travel<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7660 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7639\">11,634</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7661 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7632\">7,110</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7662 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7632\">2,835</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps7663 ss611\"><div><div class=\"ps748 ss317\"><span class=\"f charStyle-1bac868e ps630\">Specific charter costs<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7664 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7639\">30,512</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7665 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7639\">10,776</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7666 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7632\">4,052</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps7667 ss611\"><div><div class=\"ps748 ss317\"><span class=\"f charStyle-1bac868e ps630\">Utilities<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7668 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7632\">1,720</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7669 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7632\">1,308</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7670 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.67pt\"></span></span><span class=\"ps7628\">389</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps5345 ss611\"><div><div class=\"ps748 ss317\"><span class=\"f charStyle-1bac868e ps630\">Other operating expenses<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7671 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7632\">1,334</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7672 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7632\">2,254</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7673 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.67pt\"></span></span><span class=\"ps7628\">294</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps7674 ss611\"><div><div class=\"ps748 ss317\"><span class=\"f charStyle-1bac868e ps630\">Tonnage tax<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7675 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.52pt\"></span></span><span class=\"ps7630\">81</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7676 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.22pt\"></span></span><span class=\"ps7626\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7677 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.22pt\"></span></span><span class=\"ps7626\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7678 ss611\"><div><div class=\"ps748 ss317\"><span class=\"f charStyle-b07b4361 ps39\">Total cost of sales<span class=\"f ps40\"> </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=\"ps7680 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:10.77pt\"></span></span><span class=\"ps7679\">236,755</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7681 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:10.77pt\"></span></span><span class=\"ps7679\">124,228</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7683 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.94pt\"></span></span><span class=\"ps7682\">59,858</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7684 ss0\"><div class=\"ss118 ws0 ps2924\"><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=\"ps37 ss615\"><div><div class=\"ps747 ss614\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7686 ss473\"><div><div class=\"ps41 ss336\"><span class=\"f charStyle-054ead99 ps6311\">Note<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6203 ss473\"><div><div class=\"ps41 ss336\"><span class=\"f charStyle-281247bf ps6312\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7687 ss473\"><div><div class=\"ps41 ss336\"><span class=\"f charStyle-054ead99 ps6312\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6049 ss473\"><div><div class=\"ps41 ss336\"><span class=\"f charStyle-054ead99 ps6312\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps43 ss616\"><div><div class=\"ps435 ss614\"><span class=\"f charStyle-b07b4361 ps39\">Administrative expenses<span class=\"f ps40\"> </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=\"ps631 ss616\"><div><div class=\"ps435 ss614\"><span class=\"f charStyle-1bac868e ps630\">Depreciation and amortisation<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7692 ss617\"><div><div class=\"ps7689 ss336\"><span class=\"f charStyle-e5ec5c44 ps7688\">\u00a012\u00a0,\u00a013\u00a0,\u00a014<span class=\"f ps40\"> </span></span></div><div class=\"ps7691 ss336\"><span class=\"f charStyle-e5ec5c44 ps7690\">\u00a0</span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7693 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">3,549</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7694 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">2,522</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7695 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6328\">534</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5277 ss616\"><div><div class=\"ps435 ss614\"><span class=\"f charStyle-1bac868e ps630\">Employee compensation<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7697 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44 ps7696\">6<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7698 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6317\">46,282</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7699 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6317\">33,132</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7700 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6317\">18,889</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps2081 ss616\"><div><div class=\"ps435 ss614\"><span class=\"f charStyle-1bac868e ps630\">Repair and maintenance expenses<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7701 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">3,449</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7702 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">3,020</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7703 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">1,123</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps767 ss616\"><div><div class=\"ps435 ss614\"><span class=\"f charStyle-1bac868e ps630\">Legal and professional fees<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7704 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">9,087</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7705 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">7,576</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7706 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">2,122</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5162 ss616\"><div><div class=\"ps435 ss614\"><span class=\"f charStyle-1bac868e ps630\">Transaction costs<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7707 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6343\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7708 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6343\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7709 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">7,707</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps7710 ss616\"><div><div class=\"ps435 ss614\"><span class=\"f charStyle-1bac868e ps630\">Rental expenses<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7711 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">2,484</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7712 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">1,757</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7713 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6328\">751</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps61 ss616\"><div><div class=\"ps435 ss614\"><span class=\"f charStyle-1bac868e ps630\">Travel expense<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps6427 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">2,393</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7714 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">1,988</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7715 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6328\">985</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps7716 ss616\"><div><div class=\"ps435 ss614\"><span class=\"f charStyle-1bac868e ps630\">Marketing and entertainment expenses<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7717 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6328\">968</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7718 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">1,283</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7719 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6328\">602</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5711 ss616\"><div><div class=\"ps435 ss614\"><span class=\"f charStyle-1bac868e ps630\">Other expenses<span class=\"f ps40\"> </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=\"ps7720 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">6,414</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7721 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">5,823</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7722 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">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=\"ps6007 ss616\"><div><div class=\"ps435 ss614\"><span class=\"f charStyle-b07b4361 ps39\">Total administrative expenses<span class=\"f ps40\"> </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=\"ps7723 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7402\">74,626</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7724 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7402\">57,101</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7725 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7402\">34,458</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps2447 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">Transaction costs in 2023 include all costs related to the business combination with Eneti, such as advisory, </span></div><div class=\"ps2448 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">legal and consulting fees, which are included in administrative expenses.</span></div></div><div class=\"ps7007 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies<span id=\"i5bd065fe8d5945acb03e5c28945340b2\"></span></span></div><div class=\"ps266 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps183\">Cost of sales and administrative expenses</span></div><div class=\"ps1548 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Cost of sales consists of expenses directly attributable to the Group\u2019s core activities, including seafarers </span></div><div class=\"ps1549 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">payroll, vessel depreciation, and the operation and maintenance of vessels.</span></div><div class=\"ps3849 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Administrative expenses, which include administrative staff costs, share-based compensation, management </span></div><div class=\"ps1781 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">costs, office expenses, business combination transaction costs and other administration-related expenses, </span></div><div class=\"ps1782 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">are expensed as they are incurred.</span></div><div class=\"ps7727 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Auditor remuneration<span id=\"id9103bba1cc74d4e8758313f65aa3bfe\"></span></span></div><div class=\"ps7260 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Administrative expenses include fees to the auditors appointed by the shareholder at the Annual General </span></div><div class=\"ps7728 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Meeting:</span></div><div class=\"ps7744 ss0\"><div class=\"ss118 ws0 ps67\"><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=\"ps37 ss95\"><div><div class=\"ps7618 ss94\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6203 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-281247bf ps6312\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7687 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-054ead99 ps6312\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6049 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-054ead99 ps6312\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps439 ss95\"><div><div class=\"ps435 ss94\"><span class=\"f charStyle-1bac868e ps630\">Statutory audit<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7729 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">1,748</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7730 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">2,016</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7731 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6328\">474</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps460 ss95\"><div><div class=\"ps435 ss94\"><span class=\"f charStyle-1bac868e ps630\">Other assurance services<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7732 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.52pt\"></span></span><span class=\"ps6373\">34</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7733 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6328\">264</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7734 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">1,608</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5518 ss95\"><div><div class=\"ps435 ss94\"><span class=\"f charStyle-1bac868e ps630\">Tax services<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7735 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.52pt\"></span></span><span class=\"ps6373\">25</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7737 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.37pt\"></span></span><span class=\"ps7736\">9</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7738 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.37pt\"></span></span><span class=\"ps7736\">2</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5527 ss95\"><div><div class=\"ps435 ss94\"><span class=\"f charStyle-1bac868e ps630\">Other services<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6231 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6343\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7739 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.52pt\"></span></span><span class=\"ps6373\">22</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7740 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6328\">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=\"ps5532 ss95\"><div><div class=\"ps435 ss94\"><span class=\"f charStyle-b07b4361 ps39\">Total<span class=\"f ps40\"> </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=\"ps7741 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.11pt\"></span></span><span class=\"ps7558\">1,807</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7742 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.11pt\"></span></span><span class=\"ps7558\">2,311</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7743 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.11pt\"></span></span><span class=\"ps7558\">2,690</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps2393 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Statutory audit services consist of fees for professional services rendered by </span><span class=\"f charStyle-c1b8f9f6 ps7745\">Ernst &amp; Young</span><span class=\"f charStyle-c1b8f9f6 ps7746\"> for the audit of </span></div><div class=\"ps2394 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the annual consolidated financial statements and services that are provided by the auditor in connection </span></div><div class=\"ps2395 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">with the statutory audit. </span></div><div class=\"ps7751 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">For </span><span class=\"f charStyle-c1b8f9f6 ps7747\">2025</span><span class=\"f charStyle-c1b8f9f6 ps7748\"> and </span><span class=\"f charStyle-c1b8f9f6 ps7749\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7750\">, the fee includes services related to the issuance of audit report on the design and </span></div><div class=\"ps7143 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">operating effectiveness of the Company's internal controls over financial reporting (SOX404(b)).</span></div><div class=\"ps7752 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">Other assurance services consist of reviews of interim financial information and, for 2023, include PCAOB </span></div><div class=\"ps7753 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">re-audits for 2021 and 2022, as well as assurance reports in respect of pro forma financial information in </span></div><div class=\"ps3214 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">connection with regulatory filings. </span></div><div class=\"ps7012 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">Tax services consist of tax compliance services. </span></div><div class=\"ps7754 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">Other services consist of services provided for other permitted services, including fees for work performed </span></div><div class=\"ps7755 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">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 ps183\">Note 6</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Employee Compensation<span id=\"i8d8ad33b79984ae59384330ee8f2651b\"></span></span></div><div class=\"ps7795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Onshore - presented within administrative expenses<span id=\"ie7fc78a689484c6b8e5f52ffcbd5013b\"></span></span></div><div class=\"ps7823 ss0\"><div class=\"ss613 ws0 ps67\"><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=\"ps37 ss619\"><div><div class=\"ps6278 ss578\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7262 ss468\"><div><div class=\"ps5127 ss452\"><span class=\"f charStyle-054ead99 ps7796\">Note<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7797 ss468\"><div><div class=\"ps5127 ss452\"><span class=\"f charStyle-281247bf ps4658\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7798 ss468\"><div><div class=\"ps5127 ss452\"><span class=\"f charStyle-054ead99 ps4658\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6315 ss468\"><div><div class=\"ps5127 ss452\"><span class=\"f charStyle-054ead99 ps4658\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4698 ss620\"><div><div class=\"ps2573 ss578\"><span class=\"f charStyle-1bac868e ps630\">Wages and Salaries<span class=\"f ps40\"> </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=\"ps7800 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.52pt\"></span></span><span class=\"ps7799\">37,322</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5138 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.52pt\"></span></span><span class=\"ps7799\">29,340</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7801 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.52pt\"></span></span><span class=\"ps7799\">16,957</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"padding:0\"><div class=\"ps6218 ss620\"><div><div class=\"ps7216 ss578\"><span class=\"f charStyle-1bac868e ps630\">Employer's contribution to defined <span class=\"f ps40\"> </span></span></div><div class=\"ps7217 ss578\"><span class=\"f charStyle-1bac868e ps630\">contribution plans</span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7803 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.37pt\"></span></span><span class=\"ps7802\">3,765</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7804 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.37pt\"></span></span><span class=\"ps7802\">1,635</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6329 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7805\">847</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"padding:0\"><div class=\"ps7806 ss620\"><div><div class=\"ps2573 ss578\"><span class=\"f charStyle-1bac868e ps630\">Share based payment expense<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7808 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-e5ec5c44 ps7807\">7<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7809 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.37pt\"></span></span><span class=\"ps7802\">2,071</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7810 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.37pt\"></span></span><span class=\"ps7802\">1,662</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7811 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.37pt\"></span></span><span class=\"ps7802\">1,134</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7812 ss620\"><div><div class=\"ps2573 ss578\"><span class=\"f charStyle-1bac868e ps630\">Other short-term benefits<span class=\"f ps40\"> </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=\"ps7813 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.37pt\"></span></span><span class=\"ps7802\">3,124</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7814 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7805\">495</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7815 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7805\">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=\"ps2210 ss620\"><div><div class=\"ps2573 ss578\"><span class=\"f charStyle-b07b4361 ps39\">Total onshore employee compensation<span class=\"f ps40\"> </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=\"ps7817 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:17.44pt\"></span></span><span class=\"ps7816\">46,282</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7818 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:17.44pt\"></span></span><span class=\"ps7816\">33,132</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7819 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:17.44pt\"></span></span><span class=\"ps7816\">19,549</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps6305 ss620\"><div><div class=\"ps2573 ss578\"><span class=\"f charStyle-1bac868e ps630\">Average number of employees<span class=\"f ps40\"> </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=\"ps7820 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7805\">307</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7821 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7805\">242</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7822 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7805\">113</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7828 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In 2023, employee compensation includes </span><span class=\"f charStyle-c1b8f9f6 ps7824\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7825\"> </span><span class=\"f charStyle-c1b8f9f6 ps7826\">660\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7827\"> related to bonus paid, included in transaction </span></div><div class=\"ps7829 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">costs. </span></div><div class=\"ps7830 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Accounting policies</span></div><div class=\"ps7831 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Employee benefits are recognised as an expense, unless the cost qualifies for capitalisation as an asset.</span></div><div class=\"ps5285 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Employee compensation includes wages and salaries, including compensated absence and pensions, as </span></div><div class=\"ps5286 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">well as other social security contributions made to the entity\u2019s employees or public and government </span></div><div class=\"ps5287 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">authoriti</span><span class=\"f charStyle-c1b8f9f6 ps7832\">es. </span></div><div class=\"ps7795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps2477\">Offshore - presented within cost of sales<span id=\"id2cb925291854c169160ab294622a4c8\"></span></span></div><div class=\"ps7823 ss0\"><div class=\"ss118 ws0 ps2924\"><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=\"ps37 ss427\"><div><div class=\"ps7618 ss426\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7834 ss622\"><div><div class=\"ps4441 ss448\"><span class=\"f charStyle-054ead99 ps7833\">Note<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7835 ss56\"><div><div class=\"ps4441 ss50\"><span class=\"f charStyle-281247bf ps6792\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7836 ss56\"><div><div class=\"ps4441 ss50\"><span class=\"f charStyle-054ead99 ps6792\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7837 ss56\"><div><div class=\"ps4441 ss50\"><span class=\"f charStyle-054ead99 ps6792\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps439 ss427\"><div><div class=\"ps435 ss426\"><span class=\"f charStyle-1bac868e ps630\">Wages and Salaries<span class=\"f ps40\"> </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=\"ps7839 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.02pt\"></span></span><span class=\"ps7838\">46,008</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7840 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.02pt\"></span></span><span class=\"ps7838\">30,043</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7841 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.02pt\"></span></span><span class=\"ps7838\">14,056</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps460 ss427\"><div><div class=\"ps435 ss426\"><span class=\"f charStyle-1bac868e ps630\">Employer's contribution to defined contribution plans<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7843 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7842\">3,557</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7844 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7842\">2,059</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7845 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7842\">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=\"ps5518 ss427\"><div><div class=\"ps435 ss426\"><span class=\"f charStyle-1bac868e ps630\">Other short-term benefits<span class=\"f ps40\"> </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=\"ps7847 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7846\">523</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7848 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7846\">183</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7849 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7846\">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=\"ps5527 ss427\"><div><div class=\"ps435 ss426\"><span class=\"f charStyle-b07b4361 ps39\">Total offshore employee compensation<span class=\"f ps40\"> </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=\"ps7851 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:12.94pt\"></span></span><span class=\"ps7850\">50,088</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7852 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:12.94pt\"></span></span><span class=\"ps7850\">32,285</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7853 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:12.94pt\"></span></span><span class=\"ps7850\">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=\"ps5532 ss427\"><div><div class=\"ps435 ss426\"><span class=\"f charStyle-1bac868e ps630\">Average number of employees<span class=\"f ps40\"> </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=\"ps7854 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7846\">586</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7855 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7846\">364</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7856 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7846\">182</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7857 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps2477\">Total<span id=\"i99e227df99624d4e8e1fce758cf46cb6\"></span></span></div><div class=\"ps7881 ss0\"><div class=\"ss118 ws0 ps2924\"><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=\"ps37 ss623\"><div><div class=\"ps747 ss426\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7834 ss464\"><div><div class=\"ps41 ss448\"><span class=\"f charStyle-054ead99 ps7833\">Note<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7835 ss624\"><div><div class=\"ps41 ss50\"><span class=\"f charStyle-281247bf ps6792\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7836 ss624\"><div><div class=\"ps41 ss50\"><span class=\"f charStyle-054ead99 ps6792\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7837 ss624\"><div><div class=\"ps41 ss50\"><span class=\"f charStyle-054ead99 ps6792\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps43 ss427\"><div><div class=\"ps435 ss426\"><span class=\"f charStyle-1bac868e ps630\">Wages and Salaries<span class=\"f ps40\"> </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=\"ps7858 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.02pt\"></span></span><span class=\"ps7838\">83,330</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7859 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.02pt\"></span></span><span class=\"ps7838\">59,383</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7860 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.02pt\"></span></span><span class=\"ps7838\">31,013</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps631 ss427\"><div><div class=\"ps435 ss426\"><span class=\"f charStyle-1bac868e ps630\">Employer's contribution to defined contribution plans<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7861 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7842\">7,322</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7862 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7842\">3,694</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7863 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7842\">1,971</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5277 ss427\"><div><div class=\"ps435 ss426\"><span class=\"f charStyle-1bac868e ps630\">Share based payment expense<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7865 ss622\"><div><div class=\"ps435 ss448\"><span class=\"f charStyle-e5ec5c44 ps7864\">7<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7866 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7842\">2,071</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7867 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7842\">1,662</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7868 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7842\">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=\"ps2081 ss427\"><div><div class=\"ps435 ss426\"><span class=\"f charStyle-1bac868e ps630\">Other short-term benefits<span class=\"f ps40\"> </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=\"ps7869 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7842\">3,647</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7870 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7846\">678</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7871 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7842\">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=\"ps767 ss427\"><div><div class=\"ps435 ss426\"><span class=\"f charStyle-b07b4361 ps39\">Total employee compensation<span class=\"f ps40\"> </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=\"ps7872 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:12.94pt\"></span></span><span class=\"ps7850\">96,370</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7873 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:12.94pt\"></span></span><span class=\"ps7850\">65,417</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7874 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:12.94pt\"></span></span><span class=\"ps7850\">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=\"ps5162 ss427\"><div><div class=\"ps435 ss426\"><span class=\"f charStyle-1bac868e ps630\">Average number of full time employees<span class=\"f ps40\"> </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=\"ps7875 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7846\">893</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7876 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7846\">606</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7877 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7846\">295</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps7710 ss625\"><div><div class=\"ps2702 ss426\"><span class=\"f charStyle-cb69ec08 ps630\">Number of employees at the end of the reporting period<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7878 ss626\"><div><div class=\"ps2702 ss50\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7842\">1,073</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7879 ss626\"><div><div class=\"ps2702 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7846\">659</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7880 ss626\"><div><div class=\"ps2702 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7846\">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 ps183\">Note 6</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Employee Compensation<span id=\"i28cf84a2a2b6426d92bcb1049f9af430\"></span></span></div><div class=\"ps6975 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-cd31f1a5 ps183\">Continued from previous page</span></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Eneti employees, both onshore and offshore, joined the Group by the end of December 2023. Thus, the </span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">average number of full-time employees as of 2023 reflects the number of employees in Eneti divided by 12 </span></div><div class=\"ps7161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">months. Eneti had </span><span class=\"f charStyle-c1b8f9f6 ps7884\">99</span><span class=\"f charStyle-c1b8f9f6 ps7885\"> onshore full time employees and </span><span class=\"f charStyle-c1b8f9f6 ps7886\">176</span><span class=\"f charStyle-c1b8f9f6 ps7887\"> seafarers by the end of 2023.</span></div><div class=\"ps419 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Labour costs related to certain employees who are working on the management of the newbuilding </span></div><div class=\"ps420 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">process have been capitalised. These capita</span><span class=\"f charStyle-c1b8f9f6 ps7888\">lised costs amounted to</span><span class=\"f charStyle-c1b8f9f6 ps7889\"> </span><span class=\"f charStyle-c1b8f9f6 ps7890\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7891\"> </span><span class=\"f charStyle-c1b8f9f6 ps7892\">7.8</span><span class=\"f charStyle-c1b8f9f6 ps7893\"> m</span><span class=\"f charStyle-c1b8f9f6 ps7894\">illion</span><span class=\"f charStyle-c1b8f9f6 ps7895\"> in </span><span class=\"f charStyle-c1b8f9f6 ps7896\">2025</span><span class=\"f charStyle-c1b8f9f6 ps7897\">, </span><span class=\"f charStyle-c1b8f9f6 ps7898\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7899\"> </span><span class=\"f charStyle-c1b8f9f6 ps7900\">2.7\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7901\"> </span></div><div class=\"ps421 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">in </span><span class=\"f charStyle-c1b8f9f6 ps5058\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7902\"> and </span><span class=\"f charStyle-c1b8f9f6 ps7903\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7904\"> </span><span class=\"f charStyle-c1b8f9f6 ps7905\">1.1\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7906\"> in</span><span class=\"f charStyle-c1b8f9f6 ps7907\"> </span><span class=\"f charStyle-c1b8f9f6 ps7908\">2023</span><span class=\"f charStyle-c1b8f9f6 ps7909\"> and are recognised under assets under construction.</span></div><div class=\"ps9613 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Leas interest expenses recognised in profit and loss </span></div><div class=\"ps9614 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps183\">1.<span class=\"f ps40\"> </span></span><span class=\"f charStyle-4ecd4cad ps1761\">Interest expense</span></div><div class=\"ps9618 ss0\"><div class=\"ss193 ws0 ps67\"><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=\"ps37 ss700\"><div><div class=\"ps6200 ss697\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9576 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-281247bf ps3737\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9577 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-054ead99 ps3737\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5310 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-054ead99 ps3737\">2023<span class=\"f ps40\"> </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=\"ps4293 ss702\"><div><div class=\"ps8719 ss697\"><span class=\"f charStyle-1bac868e ps630\">Interest expense on lease liabilities (vessels <span class=\"f ps40\"> </span></span></div><div class=\"ps8720 ss697\"><span class=\"f charStyle-1bac868e ps630\">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=\"ps9615 ss703\"><div><div class=\"ps8720 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">746</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9616 ss703\"><div><div class=\"ps8720 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">428</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9617 ss703\"><div><div class=\"ps8720 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.27pt\"></span></span><span class=\"ps9590\">25</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps4213 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps183\">1.<span class=\"f ps40\"> </span></span><span class=\"f charStyle-4ecd4cad ps1761\">Lease expense not capitalised in lease liabilities</span></div><div class=\"ps9619 ss0\"><div class=\"ss193 ws0 ps67\"><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=\"ps37 ss700\"><div><div class=\"ps6200 ss697\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9576 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-281247bf ps3737\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9577 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-054ead99 ps3737\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5310 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-054ead99 ps3737\">2023<span class=\"f ps40\"> </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=\"ps4293 ss704\"><div><div class=\"ps41 ss697\"><span class=\"f charStyle-1bac868e ps630\">Short-term lease expense<span class=\"f ps40\"> </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=\"ps9615 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">614</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9616 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">477</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9617 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">180</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6947 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Total cas</span><span class=\"f charStyle-c1b8f9f6 ps9620\">h ou</span><span class=\"f charStyle-c1b8f9f6 ps9621\">tflow for all leases in </span><span class=\"f charStyle-c1b8f9f6 ps9622\">2025</span><span class=\"f charStyle-c1b8f9f6 ps9623\">, </span><span class=\"f charStyle-c1b8f9f6 ps9624\">2024</span><span class=\"f charStyle-c1b8f9f6 ps9625\"> and </span><span class=\"f charStyle-c1b8f9f6 ps9626\">2023</span><span class=\"f charStyle-c1b8f9f6 ps9627\"> were</span><span class=\"f charStyle-c1b8f9f6 ps9628\"> </span><span class=\"f charStyle-c1b8f9f6 ps9629\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9630\"> </span><span class=\"f charStyle-c1b8f9f6 ps9631\">2,686</span><span class=\"f charStyle-c1b8f9f6 ps9632\"> thousand</span><span class=\"f charStyle-c1b8f9f6 ps9633\">, </span><span class=\"f charStyle-c1b8f9f6 ps9634\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9635\"> </span><span class=\"f charStyle-c1b8f9f6 ps9636\">1,152\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps9637\"> and </span></div><div class=\"ps9641 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">283\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps9638\"> respectively, excluding variable lease fee (refer to </span><span class=\"f charStyle-c1b8f9f6 ps9639\">Note 24). Please refer to Note 28</span><span class=\"f charStyle-c1b8f9f6 ps9640\"> for </span></div><div class=\"ps9642 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">disclosure on lease commitments. </span></div><div class=\"ps9646 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Lease liabilities<span id=\"i906fb04c707e4a55b0265cca42759d6e\"></span></span></div><div class=\"ps2688 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">At the inception of a contract, the Group assesses whether the contract contains a lease. A contract contains </span></div><div class=\"ps2689 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">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=\"ps2690 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">consideration. Reassessment is required only when the terms and conditions of the contract are changed.</span></div><div class=\"ps6997 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">At the commencement date of the lease, the Group recognises lease liabilities measured at the present </span></div><div class=\"ps9296 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">value of lease payments to be made over the lease term. The lease payments include fixed payments </span></div><div class=\"ps9302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">(including in-substance fixed payments) less any lease incentives receivable, variable lease payments that </span></div><div class=\"ps9307 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">depend on an index or a rate, and amounts expected to be paid under residual value guarantees.</span></div><div class=\"ps2992 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Variable lease payments that do not depend on an index or a rate are recognised as expenses in the period </span></div><div class=\"ps2993 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">in which the event or condition that triggers the payment occurs. Utilisation based lease fees are classified <span class=\"f ps40\"> </span></span></div><div class=\"ps2994 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">as variable lease payments.</span></div><div class=\"ps2995 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the </span></div><div class=\"ps2996 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">lease commencement date, as the interest rate implicit in the lease is not readily determinable. After the </span></div><div class=\"ps2997 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">commencement date, the carrying amount of lease liabilities is increased to reflect the accretion of interest </span></div><div class=\"ps2998 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">and reduced by lease payments made.</span></div><div class=\"ps2999 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the </span></div><div class=\"ps3000 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an </span></div><div class=\"ps3127 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">index or rate used to determine such lease payments) or a change in the assessment of an option to </span></div><div class=\"ps3128 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">purchase the underlying asset.</span></div><div class=\"ps9651 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Short-term and low-value leases<span id=\"i47c0a14c77d249589203643c44fd375a\"></span></span></div><div class=\"ps9652 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group has elected not to recognise right-of-use assets and lease liabilities for short-term leases with </span></div><div class=\"ps9382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">lease terms of </span><span class=\"f charStyle-c1b8f9f6 ps7528\">twelve months</span><span class=\"f charStyle-c1b8f9f6 ps9653\"> or less, and for low-value leases. Lease payments relating to these leases are </span></div><div class=\"ps9383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">expensed to profit or loss on a straight-line basis over the lease term. Short-term and low-value leases </span></div><div class=\"ps9384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">include cars, coffee machines, office premises and AV equipment.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfExpensesExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-528": {
   "value": "<div class=\"ps7684 ss0\"><div class=\"ss613 ws0 ps67\"><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=\"ps37 ss608\"><div><div class=\"ps7618 ss317\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7620 ss609\"><div><div class=\"ps4441 ss224\"><span class=\"f charStyle-054ead99 ps7619\">Note<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7622 ss609\"><div><div class=\"ps4441 ss224\"><span class=\"f charStyle-281247bf ps7621\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7623 ss609\"><div><div class=\"ps4441 ss224\"><span class=\"f charStyle-054ead99 ps7621\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7624 ss609\"><div><div class=\"ps4441 ss224\"><span class=\"f charStyle-054ead99 ps7621\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:26.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps439 ss610\"><div><div class=\"ps3894 ss317\"><span class=\"f charStyle-b07b4361 ps39\">Cost of sales<span class=\"f ps40\"> </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=\"ps2069 ss611\"><div><div class=\"ps748 ss317\"><span class=\"f charStyle-1bac868e ps630\">Right-of-use asset depreciation<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7625 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44 ps5200\">14<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7627 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.22pt\"></span></span><span class=\"ps7626\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7629 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.67pt\"></span></span><span class=\"ps7628\">235</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7631 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.52pt\"></span></span><span class=\"ps7630\">30</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps2138 ss611\"><div><div class=\"ps748 ss317\"><span class=\"f charStyle-1bac868e ps630\">Insurance<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7633 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7632\">6,268</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7634 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7632\">2,754</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7635 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7632\">1,573</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps653 ss611\"><div><div class=\"ps748 ss317\"><span class=\"f charStyle-1bac868e ps630\">Vessel depreciation<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7636 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44 ps5200\">13<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7638 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.17pt\"></span></span><span class=\"ps7637\">104,042</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7640 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7639\">53,696</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7641 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7639\">22,484</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps6725 ss611\"><div><div class=\"ps748 ss317\"><span class=\"f charStyle-1bac868e ps630\">Impairment of property, plant and equipment<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7642 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44 ps5200\">13<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7643 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.22pt\"></span></span><span class=\"ps7626\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7644 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.22pt\"></span></span><span class=\"ps7626\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7645 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7632\">5,000</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps7396 ss611\"><div><div class=\"ps748 ss317\"><span class=\"f charStyle-1bac868e ps630\">Seafarer payroll<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7646 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44 ps5215\">6<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7647 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7639\">50,088</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7648 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7639\">32,285</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7649 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7639\">15,921</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps1827 ss611\"><div><div class=\"ps748 ss317\"><span class=\"f charStyle-1bac868e ps630\">Fuel and oil<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7650 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7632\">7,928</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7651 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7632\">2,976</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7652 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.67pt\"></span></span><span class=\"ps7628\">711</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps7653 ss611\"><div><div class=\"ps748 ss317\"><span class=\"f charStyle-1bac868e ps630\">Maintenance<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7654 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7639\">17,878</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7655 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7632\">7,886</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7656 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7632\">5,121</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps4643 ss611\"><div><div class=\"ps748 ss317\"><span class=\"f charStyle-1bac868e ps630\">Messing costs<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7657 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7632\">5,270</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7658 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7632\">2,948</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7659 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7632\">1,448</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps6442 ss611\"><div><div class=\"ps748 ss317\"><span class=\"f charStyle-1bac868e ps630\">Seafarer travel<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7660 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7639\">11,634</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7661 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7632\">7,110</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7662 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7632\">2,835</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps7663 ss611\"><div><div class=\"ps748 ss317\"><span class=\"f charStyle-1bac868e ps630\">Specific charter costs<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7664 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7639\">30,512</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7665 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.02pt\"></span></span><span class=\"ps7639\">10,776</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7666 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7632\">4,052</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps7667 ss611\"><div><div class=\"ps748 ss317\"><span class=\"f charStyle-1bac868e ps630\">Utilities<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7668 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7632\">1,720</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7669 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7632\">1,308</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7670 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.67pt\"></span></span><span class=\"ps7628\">389</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps5345 ss611\"><div><div class=\"ps748 ss317\"><span class=\"f charStyle-1bac868e ps630\">Other operating expenses<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7671 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7632\">1,334</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7672 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.87pt\"></span></span><span class=\"ps7632\">2,254</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7673 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.67pt\"></span></span><span class=\"ps7628\">294</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"padding:0\"><div class=\"ps7674 ss611\"><div><div class=\"ps748 ss317\"><span class=\"f charStyle-1bac868e ps630\">Tonnage tax<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7675 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.52pt\"></span></span><span class=\"ps7630\">81</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7676 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.22pt\"></span></span><span class=\"ps7626\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7677 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.22pt\"></span></span><span class=\"ps7626\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7678 ss611\"><div><div class=\"ps748 ss317\"><span class=\"f charStyle-b07b4361 ps39\">Total cost of sales<span class=\"f ps40\"> </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=\"ps7680 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:10.77pt\"></span></span><span class=\"ps7679\">236,755</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7681 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:10.77pt\"></span></span><span class=\"ps7679\">124,228</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7683 ss612\"><div><div class=\"ps748 ss224\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.94pt\"></span></span><span class=\"ps7682\">59,858</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7684 ss0\"><div class=\"ss118 ws0 ps2924\"><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=\"ps37 ss615\"><div><div class=\"ps747 ss614\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7686 ss473\"><div><div class=\"ps41 ss336\"><span class=\"f charStyle-054ead99 ps6311\">Note<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6203 ss473\"><div><div class=\"ps41 ss336\"><span class=\"f charStyle-281247bf ps6312\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7687 ss473\"><div><div class=\"ps41 ss336\"><span class=\"f charStyle-054ead99 ps6312\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6049 ss473\"><div><div class=\"ps41 ss336\"><span class=\"f charStyle-054ead99 ps6312\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps43 ss616\"><div><div class=\"ps435 ss614\"><span class=\"f charStyle-b07b4361 ps39\">Administrative expenses<span class=\"f ps40\"> </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=\"ps631 ss616\"><div><div class=\"ps435 ss614\"><span class=\"f charStyle-1bac868e ps630\">Depreciation and amortisation<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7692 ss617\"><div><div class=\"ps7689 ss336\"><span class=\"f charStyle-e5ec5c44 ps7688\">\u00a012\u00a0,\u00a013\u00a0,\u00a014<span class=\"f ps40\"> </span></span></div><div class=\"ps7691 ss336\"><span class=\"f charStyle-e5ec5c44 ps7690\">\u00a0</span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7693 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">3,549</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7694 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">2,522</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7695 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6328\">534</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5277 ss616\"><div><div class=\"ps435 ss614\"><span class=\"f charStyle-1bac868e ps630\">Employee compensation<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7697 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44 ps7696\">6<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7698 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6317\">46,282</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7699 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6317\">33,132</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7700 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6317\">18,889</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps2081 ss616\"><div><div class=\"ps435 ss614\"><span class=\"f charStyle-1bac868e ps630\">Repair and maintenance expenses<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7701 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">3,449</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7702 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">3,020</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7703 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">1,123</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps767 ss616\"><div><div class=\"ps435 ss614\"><span class=\"f charStyle-1bac868e ps630\">Legal and professional fees<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7704 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">9,087</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7705 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">7,576</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7706 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">2,122</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5162 ss616\"><div><div class=\"ps435 ss614\"><span class=\"f charStyle-1bac868e ps630\">Transaction costs<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7707 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6343\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7708 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6343\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7709 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">7,707</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps7710 ss616\"><div><div class=\"ps435 ss614\"><span class=\"f charStyle-1bac868e ps630\">Rental expenses<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7711 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">2,484</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7712 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">1,757</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7713 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6328\">751</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps61 ss616\"><div><div class=\"ps435 ss614\"><span class=\"f charStyle-1bac868e ps630\">Travel expense<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps6427 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">2,393</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7714 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">1,988</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7715 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6328\">985</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps7716 ss616\"><div><div class=\"ps435 ss614\"><span class=\"f charStyle-1bac868e ps630\">Marketing and entertainment expenses<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7717 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6328\">968</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7718 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">1,283</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7719 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6328\">602</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5711 ss616\"><div><div class=\"ps435 ss614\"><span class=\"f charStyle-1bac868e ps630\">Other expenses<span class=\"f ps40\"> </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=\"ps7720 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">6,414</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7721 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">5,823</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7722 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">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=\"ps6007 ss616\"><div><div class=\"ps435 ss614\"><span class=\"f charStyle-b07b4361 ps39\">Total administrative expenses<span class=\"f ps40\"> </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=\"ps7723 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7402\">74,626</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7724 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7402\">57,101</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7725 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7402\">34,458</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps2447 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">Transaction costs in 2023 include all costs related to the business combination with Eneti, such as advisory, </span></div><div class=\"ps2448 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">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 ps183\">Note 12</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Intangible Assets<span id=\"i5659d7b42a954133ae10d740547684b9\"></span></span></div><div class=\"ps7684 ss0\"><div class=\"ss668 ws0 ps67\"><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=\"ps8752 ss554\"><div><div class=\"ps41 ss163\"><span class=\"f charStyle-281247bf ps8751\">2025<span class=\"f ps40\"> </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=\"ps6085 ss554\"><div><div class=\"ps41 ss163\"><span class=\"f charStyle-054ead99 ps8751\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps8753 ss554\"><div><div class=\"ps41 ss163\"><span class=\"f charStyle-054ead99 ps8751\">2023<span class=\"f ps40\"> </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=\"ps43 ss667\"><div><div class=\"ps8754 ss666\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8757 ss164\"><div><div class=\"ps8756 ss163\"><span class=\"f charStyle-281247bf ps8755\">Software<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8759 ss164\"><div><div class=\"ps8756 ss163\"><span class=\"f charStyle-281247bf ps8758\">Goodwill<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8760 ss164\"><div><div class=\"ps8756 ss163\"><span class=\"f charStyle-281247bf ps5317\">Total<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8761 ss164\"><div><div class=\"ps8756 ss163\"><span class=\"f charStyle-054ead99 ps8755\">Software<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8762 ss164\"><div><div class=\"ps8756 ss163\"><span class=\"f charStyle-054ead99 ps8758\">Goodwill<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8763 ss164\"><div><div class=\"ps8756 ss163\"><span class=\"f charStyle-054ead99 ps5317\">Total<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8764 ss164\"><div><div class=\"ps8756 ss163\"><span class=\"f charStyle-054ead99 ps8755\">Software<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8766 ss164\"><div><div class=\"ps8756 ss163\"><span class=\"f charStyle-054ead99 ps8765\">Goodwill<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8767 ss164\"><div><div class=\"ps8756 ss163\"><span class=\"f charStyle-054ead99 ps6516\">Total<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5195 ss667\"><div><div class=\"ps4607 ss666\"><span class=\"f charStyle-b07b4361 ps39\">Cost<span class=\"f ps40\"> </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=\"ps2167 ss667\"><div><div class=\"ps4607 ss666\"><span class=\"f charStyle-1bac868e ps630\">Beginning of period<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8768 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6526\">1,069</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8769 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.02pt\"></span></span><span class=\"ps6519\">17,763</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8770 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.02pt\"></span></span><span class=\"ps6519\">18,832</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8772 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">693</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8773 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.02pt\"></span></span><span class=\"ps6519\">16,707</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8774 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.02pt\"></span></span><span class=\"ps6519\">17,400</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8775 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">662</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8776 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8777 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">662</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps6339 ss667\"><div><div class=\"ps4607 ss666\"><span class=\"f charStyle-1bac868e ps630\">Acquisition of businesses<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8778 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8779 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8780 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8781 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8782 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8783 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8784 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8785 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.02pt\"></span></span><span class=\"ps6519\">16,919</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8786 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.02pt\"></span></span><span class=\"ps6519\">16,919</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps1033 ss667\"><div><div class=\"ps4607 ss666\"><span class=\"f charStyle-1bac868e ps630\">Additions<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8787 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6526\">1,506</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8788 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8789 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6526\">1,506</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8790 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">410</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8791 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8792 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">410</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8793 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.52pt\"></span></span><span class=\"ps6657\">31</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8794 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8795 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.52pt\"></span></span><span class=\"ps6657\">31</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps8796 ss667\"><div><div class=\"ps4607 ss666\"><span class=\"f charStyle-1bac868e ps630\">Disposals<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8797 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8798 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8799 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8801 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.1pt\"></span></span><span class=\"ps8800\">(38)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8802 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8803 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.1pt\"></span></span><span class=\"ps8800\">(38)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8804 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8805 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8806 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps1827 ss667\"><div><div class=\"ps4607 ss666\"><span class=\"f charStyle-1bac868e ps630\">Exchange differences<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8807 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8808 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8809 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8810 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:60.37pt\"></span></span><span class=\"ps6655\">4</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8811 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6526\">1,056</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8812 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6526\">1,060</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8813 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8815 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:45.25pt\"></span></span><span class=\"ps8814\">(212)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8816 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:45.25pt\"></span></span><span class=\"ps8814\">(212)</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8817 ss667\"><div><div class=\"ps4607 ss666\"><span class=\"f charStyle-b07b4361 ps39\">31 December<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8818 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.11pt\"></span></span><span class=\"ps6634\">2,575</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8819 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6589\">17,763</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8820 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6589\">20,338</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8821 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.11pt\"></span></span><span class=\"ps6634\">1,069</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8822 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6589\">17,763</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8823 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6589\">18,832</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8825 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8824\">693</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8826 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6589\">16,707</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8827 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6589\">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=\"ps8828 ss667\"><div><div class=\"ps4607 ss666\"><span class=\"f charStyle-b07b4361 ps39\">Accumulated depreciation<span class=\"f ps40\"> </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=\"ps4839 ss667\"><div><div class=\"ps4607 ss666\"><span class=\"f charStyle-1bac868e ps630\">Beginning of period<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8829 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">642</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8830 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8831 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">642</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8832 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">453</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8833 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8834 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">453</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8835 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">243</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8836 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8837 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">243</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps2240 ss667\"><div><div class=\"ps4607 ss666\"><span class=\"f charStyle-1bac868e ps630\">Depreciation charge<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8838 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">264</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8839 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8840 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">264</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8841 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">189</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8842 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8843 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">189</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8844 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">210</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8845 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8846 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">210</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6629 ss667\"><div><div class=\"ps4607 ss666\"><span class=\"f charStyle-b07b4361 ps39\">31 December<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8847 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8824\">906</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8848 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8849 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8824\">906</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8850 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8824\">642</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8851 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8852 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8824\">642</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8853 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8824\">453</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8854 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8855 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8824\">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=\"ps4033 ss667\"><div><div class=\"ps4607 ss666\"><span class=\"f charStyle-b07b4361 ps39\">Net book value<span class=\"f ps40\"> </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=\"ps8856 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.11pt\"></span></span><span class=\"ps6634\">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=\"ps8857 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6589\">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=\"ps8858 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6589\">19,432</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8859 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8824\">427</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8860 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6589\">17,763</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8861 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6589\">18,190</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8862 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8824\">240</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8863 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6589\">16,707</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8864 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6589\">16,947</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps3138 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Software additions during </span><span class=\"f charStyle-c1b8f9f6 ps8865\">2025</span><span class=\"f charStyle-c1b8f9f6 ps8866\">, </span><span class=\"f charStyle-c1b8f9f6 ps8867\">2024</span><span class=\"f charStyle-c1b8f9f6 ps8868\"> and </span><span class=\"f charStyle-c1b8f9f6 ps8869\">2023</span><span class=\"f charStyle-c1b8f9f6 ps8870\"> 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=\"ps3139 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Resource Planning (ERP) system.</span></div><div class=\"ps3111 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Goodwill of </span><span class=\"f charStyle-c1b8f9f6 ps8871\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8872\"> </span><span class=\"f charStyle-c1b8f9f6 ps8873\">16.9\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8874\"> was recognised on 19 December 2023 in relation to the acquisition of Eneti. The Group has </span><span class=\"f charStyle-c1b8f9f6 ps8875\">two</span><span class=\"f charStyle-c1b8f9f6 ps8876\"> 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 ps183\">Note 13</span></div><div class=\"ps8965 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Property, Plant and Equipment<span id=\"ied4456ff49794ff3861be233ee7ad17a\"></span></span></div><div class=\"ps9053 ss0\"><div class=\"ss642 ws0 ps67\"><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=\"ps37 ss676\"><div><div class=\"ps8967 ss675\"><span class=\"f charStyle-4979afbe ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8969 ss678\"><div><div class=\"ps5584 ss677\"><span class=\"f charStyle-281247bf ps8968\">Vessels<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8971 ss678\"><div><div class=\"ps5584 ss677\"><span class=\"f charStyle-281247bf ps8970\">Dry dock<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8973 ss678\"><div><div class=\"ps5584 ss677\"><span class=\"f charStyle-281247bf ps8972\">Other fixtures and fittings<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8975 ss678\"><div><div class=\"ps5584 ss677\"><span class=\"f charStyle-281247bf ps8974\">Assets under construction<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8977 ss678\"><div><div class=\"ps5584 ss677\"><span class=\"f charStyle-281247bf ps8976\">Total<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8890 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-b07b4361 ps39\">Cost 2025<span class=\"f ps40\"> </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=\"ps8900 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-1bac868e ps39\">Beginning of financial year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8979 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:84.37pt\"></span></span><span class=\"ps8978\">1,056,664</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8981 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8980\">17,644</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8982 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8980\">13,513</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8984 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8983\">736,610</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8985 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:84.37pt\"></span></span><span class=\"ps8978\">1,824,431</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps7806 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-1bac868e ps39\">Additions<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8986 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8980\">71,255</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8988 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:107.67pt\"></span></span><span class=\"ps8987\">843</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8990 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8989\">3,661</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8991 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:84.37pt\"></span></span><span class=\"ps8978\">1,254,658</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8992 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:84.37pt\"></span></span><span class=\"ps8978\">1,330,417</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps2271 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-1bac868e ps39\">Transfer from assets under construction<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8993 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:84.37pt\"></span></span><span class=\"ps8978\">1,381,140</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8994 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8980\">20,423</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8996 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:90.6pt\"></span></span><span class=\"ps8995\">(10,371)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8998 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:78.95pt\"></span></span><span class=\"ps8997\">(1,391,192)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9000 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5220 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-1bac868e ps39\">Disposals<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9001 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9002 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9004 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:102.25pt\"></span></span><span class=\"ps9003\">(124)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9005 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9006 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:102.25pt\"></span></span><span class=\"ps9003\">(124)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps7396 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-1bac868e ps39\">Exchange differences<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9007 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9008 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9009 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9010 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9011 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\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=\"ps5693 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-23b55a92 ps39\">31 December 2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9013 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:81.17pt\"></span></span><span class=\"ps9012\">2,509,059</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9015 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:93.94pt\"></span></span><span class=\"ps9014\">38,910</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9016 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:99.11pt\"></span></span><span class=\"ps5280\">6,679</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9018 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9017\">600,076</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9019 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:81.17pt\"></span></span><span class=\"ps9012\">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=\"ps9020 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-b07b4361 ps39\">Accumulated depreciation and impairment<span class=\"f ps40\"> </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=\"ps9021 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-1bac868e ps39\">Beginning of financial year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9022 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8983\">104,119</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9023 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8989\">6,541</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9024 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8989\">1,505</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9025 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9026 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8983\">112,165</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps6601 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-1bac868e ps39\">Depreciation charge<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9027 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8980\">97,615</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9028 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8989\">6,425</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9029 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8989\">1,582</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9030 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9031 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8983\">105,622</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps526 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-1bac868e ps39\">Disposals<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9032 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9033 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9034 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:102.25pt\"></span></span><span class=\"ps9003\">(123)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9035 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9036 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:102.25pt\"></span></span><span class=\"ps9003\">(123)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps4848 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-1bac868e ps39\">Exchange differences<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9037 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9038 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9039 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9040 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9041 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"background-color:#206079;padding:0\"><div class=\"ps1876 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-23b55a92 ps39\">31 December 2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9042 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9017\">201,734</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9043 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:93.94pt\"></span></span><span class=\"ps9014\">12,966</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9044 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:99.11pt\"></span></span><span class=\"ps5280\">2,964</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9045 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9046 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9017\">217,664</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9047 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-b07b4361 ps39\">Net book value<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9048 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:81.17pt\"></span></span><span class=\"ps9012\">2,307,325</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9049 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:93.94pt\"></span></span><span class=\"ps9014\">25,944</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9050 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:99.11pt\"></span></span><span class=\"ps5280\">3,715</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9051 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9017\">600,076</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9052 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:81.17pt\"></span></span><span class=\"ps9012\">2,937,060</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7512 ss0\"><div class=\"ss642 ws0 ps67\"><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=\"ps37 ss676\"><div><div class=\"ps8967 ss675\"><span class=\"f charStyle-4979afbe ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8969 ss678\"><div><div class=\"ps5584 ss677\"><span class=\"f charStyle-281247bf ps8968\">Vessels<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8971 ss678\"><div><div class=\"ps5584 ss677\"><span class=\"f charStyle-281247bf ps8970\">Dry dock<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8973 ss678\"><div><div class=\"ps5584 ss677\"><span class=\"f charStyle-281247bf ps8972\">Other fixtures and fittings<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8975 ss678\"><div><div class=\"ps5584 ss677\"><span class=\"f charStyle-281247bf ps8974\">Assets under construction<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8977 ss678\"><div><div class=\"ps5584 ss677\"><span class=\"f charStyle-281247bf ps8976\">Total<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8890 ss681\"><div><div class=\"ps741 ss675\"><span class=\"f charStyle-b07b4361 ps39\">Cost 2024<span class=\"f ps40\"> </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=\"ps2163 ss681\"><div><div class=\"ps741 ss675\"><span class=\"f charStyle-1bac868e ps630\">Beginning of financial year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9102 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8983\">566,360</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9103 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8989\">9,135</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9104 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:107.67pt\"></span></span><span class=\"ps8987\">979</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9105 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8983\">571,745</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9106 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:84.37pt\"></span></span><span class=\"ps8978\">1,148,219</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps5204 ss681\"><div><div class=\"ps741 ss675\"><span class=\"f charStyle-1bac868e ps630\">Additions<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9107 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8989\">8,029</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9108 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8989\">4,377</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9109 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8980\">12,680</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9110 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8983\">624,679</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9111 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8983\">649,765</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps4123 ss681\"><div><div class=\"ps741 ss675\"><span class=\"f charStyle-1bac868e ps630\">Transfer from assets under construction<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9112 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8983\">468,678</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9113 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8989\">4,000</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9114 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9116 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:85.75pt\"></span></span><span class=\"ps9115\">(472,678)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9117 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps1812 ss681\"><div><div class=\"ps741 ss675\"><span class=\"f charStyle-1bac868e ps630\">Disposals<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9119 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:95.45pt\"></span></span><span class=\"ps9118\">(5,146)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9120 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9121 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:102.25pt\"></span></span><span class=\"ps9003\">(306)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9122 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9123 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:95.45pt\"></span></span><span class=\"ps9118\">(5,452)</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps2149 ss681\"><div><div class=\"ps741 ss675\"><span class=\"f charStyle-1bac868e ps630\">Exchange differences<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9124 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8980\">18,743</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9125 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:107.67pt\"></span></span><span class=\"ps8987\">132</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9126 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:107.67pt\"></span></span><span class=\"ps8987\">160</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9127 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8980\">12,864</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9128 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8980\">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=\"ps2278 ss681\"><div><div class=\"ps741 ss675\"><span class=\"f charStyle-23b55a92 ps39\">31 December 2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9129 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:81.17pt\"></span></span><span class=\"ps9012\">1,056,664</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9130 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:93.94pt\"></span></span><span class=\"ps9014\">17,644</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9131 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:93.94pt\"></span></span><span class=\"ps9014\">13,513</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9132 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9017\">736,610</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9133 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:81.17pt\"></span></span><span class=\"ps9012\">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=\"ps6357 ss683\"><div><div class=\"ps2182 ss675\"><span class=\"f charStyle-b07b4361 ps39\">Accumulated depreciation and impairment<span class=\"f ps40\"> </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=\"ps9134 ss681\"><div><div class=\"ps741 ss675\"><span class=\"f charStyle-1bac868e ps630\">Beginning of financial year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9135 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8980\">58,727</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9136 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8989\">3,548</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9137 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:107.67pt\"></span></span><span class=\"ps8987\">312</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9138 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9139 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8980\">62,587</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps5545 ss681\"><div><div class=\"ps741 ss675\"><span class=\"f charStyle-1bac868e ps630\">Depreciation charge<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9140 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8980\">50,571</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9141 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8989\">3,125</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9142 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8989\">1,166</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9143 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9144 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8980\">54,862</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps5711 ss681\"><div><div class=\"ps741 ss675\"><span class=\"f charStyle-1bac868e ps630\">Disposals<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9145 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:95.45pt\"></span></span><span class=\"ps9118\">(5,000)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9146 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9147 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:102.25pt\"></span></span><span class=\"ps9003\">(306)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9148 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9149 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:95.45pt\"></span></span><span class=\"ps9118\">(5,306)</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps795 ss681\"><div><div class=\"ps741 ss675\"><span class=\"f charStyle-1bac868e ps630\">Impairment on disposal<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9150 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9151 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9152 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9153 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9154 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps6842 ss681\"><div><div class=\"ps741 ss675\"><span class=\"f charStyle-1bac868e ps630\">Exchange differences<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9155 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:102.25pt\"></span></span><span class=\"ps9003\">(179)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9156 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:102.25pt\"></span></span><span class=\"ps9003\">(132)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9157 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:107.67pt\"></span></span><span class=\"ps8987\">333</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9158 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9160 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:112.52pt\"></span></span><span class=\"ps9159\">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=\"ps4654 ss681\"><div><div class=\"ps741 ss675\"><span class=\"f charStyle-23b55a92 ps39\">31 December 2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9161 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9017\">104,119</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9162 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:99.11pt\"></span></span><span class=\"ps5280\">6,541</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9163 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:99.11pt\"></span></span><span class=\"ps5280\">1,505</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9164 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9165 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9017\">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=\"ps9166 ss681\"><div><div class=\"ps741 ss675\"><span class=\"f charStyle-b07b4361 ps39\">Net book value<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9167 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9017\">952,545</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9168 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:93.94pt\"></span></span><span class=\"ps9014\">11,103</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9169 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:93.94pt\"></span></span><span class=\"ps9014\">12,008</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9170 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9017\">736,610</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9171 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:81.17pt\"></span></span><span class=\"ps9012\">1,712,266</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps9348 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies<span id=\"i0ddbd7e4d5ee4f2694b6407c8d48253e\"></span></span></div><div class=\"ps7332 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Property, plant and equipment are recognised at cost less accumulated depreciation and accumulated </span></div><div class=\"ps8877 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">impairment losses.</span></div><div class=\"ps6980 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The cost of an item of property, plant and equipment initially recognised includes its purchase price and any </span></div><div class=\"ps6981 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">costs that are directly attributable to bringing the asset to the location and condition necessary for it to be </span></div><div class=\"ps6984 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">capable of operating in the manner intended by management.</span></div><div class=\"ps6985 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Subsequent expenditure relating to property, plant and equipment that has already been recognised is </span></div><div class=\"ps7362 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">added to the carrying amount of the asset only when it is probable that future economic benefits associated </span></div><div class=\"ps9349 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">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=\"ps9350 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">maintenance expenses are recognised in profit or loss as incurred.</span></div><div class=\"ps9352 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">To maintain operational capability, the vessels are required to undergo dry-docking procedures every </span><span class=\"f charStyle-c1b8f9f6 ps9351\">five </span></div><div class=\"ps9353 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">years</span><span class=\"f charStyle-c1b8f9f6 ps8115\">. The costs of the dry-docking procedures are capitalised at cost, including any costs that are directly </span></div><div class=\"ps9354 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">attributable to bringing the vessels to the location and condition necessary for the dry-docking procedures.</span></div><div class=\"ps8949 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Depreciation is calculated using the straight-line method to allocate their depreciable amounts over the </span></div><div class=\"ps9356 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">assets\u2019 estimated useful life. </span><span class=\"f charStyle-c1b8f9f6 ps9355\">The estimated useful lives are as follows:</span></div><div class=\"ps9364 ss0\"><div class=\"ss176 ws0 ps67\"><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=\"ps8588 ss687\"><div><div class=\"ps41 ss686\"><span class=\"f charStyle-a2ac8934 ps39\">Useful life<span class=\"f ps40\"> </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=\"ps43 ss688\"><div><div class=\"ps748 ss655\"><span class=\"f charStyle-2b5af115 ps39\">Vessels and furnished equipment<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:1pt solid #000;padding:0\"><div class=\"ps9358 ss689\"><div><div class=\"ps748 ss686\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps39\">Up to </span><span class=\"f charStyle-1770e19e ps9357\">25 years</span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps5644 ss688\"><div><div class=\"ps748 ss655\"><span class=\"f charStyle-2b5af115 ps39\">Drydock<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9359 ss689\"><div><div class=\"ps748 ss686\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps39\">5 years</span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps2259 ss688\"><div><div class=\"ps748 ss655\"><span class=\"f charStyle-2b5af115 ps39\">Cars<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps9360 ss689\"><div><div class=\"ps748 ss686\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps39\">5 years</span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps5527 ss688\"><div><div class=\"ps748 ss655\"><span class=\"f charStyle-2b5af115 ps39\">Other fixtures and fittings<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9363 ss689\"><div><div class=\"ps748 ss686\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps39\">2</span><span class=\"f charStyle-1770e19e ps9361\"> to </span><span class=\"f charStyle-1770e19e ps9362\">3 years</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6997 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The estimated useful life of the vessels of up to </span><span class=\"f charStyle-c1b8f9f6 ps9365\">25 years</span><span class=\"f charStyle-c1b8f9f6 ps9366\"> has been determined by an external consultant </span></div><div class=\"ps9296 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">through a fatigue analysis based on the technical specification of the vessels, whereas for Wind Peak, the </span></div><div class=\"ps9302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">estimated useful life has been determined based on an internal technical analysis, validated by an external </span></div><div class=\"ps9307 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">expert. The estimated useful life of these vessels depends on the initial delivery date. </span></div><div class=\"ps2992 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Prior to their acquisition, Wind Orca and Wind Osprey, had already been in use for </span><span class=\"f charStyle-c1b8f9f6 ps9367\">eight years</span><span class=\"f charStyle-c1b8f9f6 ps9368\">, therefore the </span></div><div class=\"ps2993 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">remaining useful life of these vessels is estimated at </span><span class=\"f charStyle-c1b8f9f6 ps9369\">17 years</span><span class=\"f charStyle-c1b8f9f6 ps9370\"> for all components except for the jacking </span></div><div class=\"ps2994 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">system and the main crane, which have a remaining useful life of </span><span class=\"f charStyle-c1b8f9f6 ps9371\">three years</span><span class=\"f charStyle-c1b8f9f6 ps9372\"> from the acquisition date. For </span></div><div class=\"ps3313 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Wind Scylla and Wind Zaratan, the remaining useful lives at the acquisition date were assessed to be </span><span class=\"f charStyle-c1b8f9f6 ps9373\">17</span><span class=\"f charStyle-c1b8f9f6 ps9374\"> and </span></div><div class=\"ps3314 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">14 years</span><span class=\"f charStyle-c1b8f9f6 ps9375\"> respectively, and all components are assigned the same useful life. Hull and steel components have </span></div><div class=\"ps3315 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">a salvage value of up to</span><span class=\"f charStyle-c1b8f9f6 ps9376\"> </span><span class=\"f charStyle-c1b8f9f6 ps9377\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9378\"> </span><span class=\"f charStyle-c1b8f9f6 ps9379\">15\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9380\"> per vessel at the end of their useful lives. Both the salvage value and </span></div><div class=\"ps3316 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">the residual value are estimated as the lightweight tonnage of each vessel multiplied by the scrap value per </span></div><div class=\"ps3317 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">tonne. Depreciation is based on costs less the estimated residual value.</span></div><div class=\"ps3120 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Further information is provided in Note 2.4, Material accounting judgements, estimates and assumptions, in </span></div><div class=\"ps3121 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">relation to vessels acquired through the business combination.</span></div><div class=\"ps3128 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The residual value, useful life, and methods of depreciation of property, plant, and equipment are reviewed </span></div><div class=\"ps3129 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">at each financial year end and adjusted accordingly, if appropriate.</span></div><div class=\"ps9464 ss0\"><div class=\"ss176 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=\"ps37 ss691\"><div><div class=\"ps7459 ss690\"><span class=\"f charStyle-4979afbe ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9411 ss633\"><div><div class=\"ps5193 ss338\"><span class=\"f charStyle-281247bf ps3903\">Leasehold <span class=\"f ps40\"> </span></span></div><div class=\"ps5194 ss338\"><span class=\"f charStyle-281247bf ps9410\">equipment</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9413 ss633\"><div><div class=\"ps5193 ss338\"><span class=\"f charStyle-281247bf ps9412\">Warehouse <span class=\"f ps40\"> </span></span></div><div class=\"ps5194 ss338\"><span class=\"f charStyle-281247bf ps6508\">facilities</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9415 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-281247bf ps9414\">Office space<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps1985 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-281247bf ps6093\">Total<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps1987 ss691\"><div><div class=\"ps5627 ss690\"><span class=\"f charStyle-b07b4361 ps39\">Cost 2025<span class=\"f ps40\"> </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=\"ps7536 ss691\"><div><div class=\"ps2702 ss690\"><span class=\"f charStyle-1bac868e ps630\">Beginning of financial year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9416 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9417 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9418 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.02pt\"></span></span><span class=\"ps8327\">13,324</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9419 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.02pt\"></span></span><span class=\"ps8327\">13,324</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps7540 ss691\"><div><div class=\"ps2702 ss690\"><span class=\"f charStyle-1bac868e ps630\">Additions<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9420 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9421 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9423 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.87pt\"></span></span><span class=\"ps9422\">4,122</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9424 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.87pt\"></span></span><span class=\"ps9422\">4,122</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps2306 ss691\"><div><div class=\"ps2702 ss690\"><span class=\"f charStyle-1bac868e ps630\">Disposals<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9425 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9426 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9428 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.25pt\"></span></span><span class=\"ps9427\">(228)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9429 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.25pt\"></span></span><span class=\"ps9427\">(228)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps492 ss691\"><div><div class=\"ps2702 ss690\"><span class=\"f charStyle-1bac868e ps630\">Exchange differences<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9430 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9431 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9432 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9433 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\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=\"ps1041 ss691\"><div><div class=\"ps2702 ss690\"><span class=\"f charStyle-23b55a92 ps39\">31 December 2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9434 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9435 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9437 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.94pt\"></span></span><span class=\"ps9436\">17,218</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9438 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.94pt\"></span></span><span class=\"ps9436\">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=\"ps63 ss691\"><div><div class=\"ps2702 ss690\"><span class=\"f charStyle-b07b4361 ps39\">Accumulated depreciation<span class=\"f ps40\"> </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=\"ps5711 ss691\"><div><div class=\"ps2702 ss690\"><span class=\"f charStyle-1bac868e ps630\">Beginning of financial year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9439 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9440 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9441 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.87pt\"></span></span><span class=\"ps9422\">2,987</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9442 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.87pt\"></span></span><span class=\"ps9422\">2,987</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5551 ss691\"><div><div class=\"ps2702 ss690\"><span class=\"f charStyle-1bac868e ps630\">Depreciation charge<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9443 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9444 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9445 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.87pt\"></span></span><span class=\"ps9422\">1,861</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9446 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.87pt\"></span></span><span class=\"ps9422\">1,861</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps4013 ss691\"><div><div class=\"ps2702 ss690\"><span class=\"f charStyle-1bac868e ps630\">Disposals<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9447 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9448 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9449 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.25pt\"></span></span><span class=\"ps9427\">(228)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9450 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.25pt\"></span></span><span class=\"ps9427\">(228)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps6178 ss691\"><div><div class=\"ps2702 ss690\"><span class=\"f charStyle-1bac868e ps630\">Exchange differences<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9451 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9452 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6184 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9453 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\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=\"ps3790 ss691\"><div><div class=\"ps2702 ss690\"><span class=\"f charStyle-23b55a92 ps39\">31 December 2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9454 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9455 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9457 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.11pt\"></span></span><span class=\"ps9456\">4,620</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9458 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.11pt\"></span></span><span class=\"ps9456\">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=\"ps9459 ss691\"><div><div class=\"ps2702 ss690\"><span class=\"f charStyle-b07b4361 ps39\">Carrying amount<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9460 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9461 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9462 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.94pt\"></span></span><span class=\"ps9436\">12,598</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9463 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.94pt\"></span></span><span class=\"ps9436\">12,598</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7512 ss0\"><div class=\"ss176 ws0 ps67\"><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:18.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps37 ss692\"><div><div class=\"ps9466 ss397\"><span class=\"f charStyle-4979afbe ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5183 ss694\" style=\"overflow:hidden\"><div><div class=\"ps9467 ss693\"><span class=\"f charStyle-281247bf ps4470\">Leasehold <span class=\"f ps40\"> </span></span></div><div class=\"ps9469 ss693\"><span class=\"f charStyle-281247bf ps9468\">equipment</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9472 ss694\" style=\"overflow:hidden\"><div><div class=\"ps9467 ss693\"><span class=\"f charStyle-281247bf ps9470\">Warehouse <span class=\"f ps40\"> </span></span></div><div class=\"ps9469 ss693\"><span class=\"f charStyle-281247bf ps9471\">facilities</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9475 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-281247bf ps9473\">Office space<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps3698 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-281247bf ps9476\">Total<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9477 ss692\"><div><div class=\"ps2579 ss397\"><span class=\"f charStyle-b07b4361 ps39\">Cost 2024<span class=\"f ps40\"> </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:18.75pt\"><td style=\"padding:0\"><div class=\"ps5644 ss692\"><div><div class=\"ps9474 ss397\"><span class=\"f charStyle-1bac868e ps630\">Beginning of financial year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9479 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9478\">464</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9480 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9478\">409</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9482 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.37pt\"></span></span><span class=\"ps9481\">2,261</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9483 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.37pt\"></span></span><span class=\"ps9481\">3,134</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps5277 ss692\"><div><div class=\"ps9474 ss397\"><span class=\"f charStyle-1bac868e ps630\">Acquisition of businesses<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9485 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9484\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9486 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9484\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9488 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31.52pt\"></span></span><span class=\"ps9487\">10,864</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9489 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31.52pt\"></span></span><span class=\"ps9487\">10,864</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps761 ss692\"><div><div class=\"ps9474 ss397\"><span class=\"f charStyle-1bac868e ps630\">Disposals<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9491 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.75pt\"></span></span><span class=\"ps9490\">(464)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9492 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.75pt\"></span></span><span class=\"ps9490\">(429)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9493 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9484\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9494 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.75pt\"></span></span><span class=\"ps9490\">(893)</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps5667 ss692\"><div><div class=\"ps9474 ss397\"><span class=\"f charStyle-1bac868e ps630\">Exchange differences<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9495 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9484\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9497 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.02pt\"></span></span><span class=\"ps9496\">20</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9498 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9478\">199</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9499 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9478\">219</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2205 ss692\"><div><div class=\"ps9474 ss397\"><span class=\"f charStyle-23b55a92 ps39\">31 December 2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9500 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9484\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9501 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9484\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9503 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.44pt\"></span></span><span class=\"ps9502\">13,324</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9504 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.44pt\"></span></span><span class=\"ps9502\">13,324</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps3757 ss692\"><div><div class=\"ps9474 ss397\"><span class=\"f charStyle-b07b4361 ps39\">Accumulated depreciation<span class=\"f ps40\"> </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:18.75pt\"><td style=\"padding:0\"><div class=\"ps4816 ss692\"><div><div class=\"ps9474 ss397\"><span class=\"f charStyle-1bac868e ps630\">Beginning of financial year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9505 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9478\">464</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9506 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.02pt\"></span></span><span class=\"ps9496\">24</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9507 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.37pt\"></span></span><span class=\"ps9481\">1,673</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9508 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.37pt\"></span></span><span class=\"ps9481\">2,161</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps9509 ss692\"><div><div class=\"ps9474 ss397\"><span class=\"f charStyle-1bac868e ps630\">Depreciation charge<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9510 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9484\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9511 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9478\">235</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9512 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.37pt\"></span></span><span class=\"ps9481\">1,144</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9513 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.37pt\"></span></span><span class=\"ps9481\">1,379</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps6306 ss692\"><div><div class=\"ps9474 ss397\"><span class=\"f charStyle-1bac868e ps630\">Disposals<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9514 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.75pt\"></span></span><span class=\"ps9490\">(464)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9515 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.75pt\"></span></span><span class=\"ps9490\">(265)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9516 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9484\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9517 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.75pt\"></span></span><span class=\"ps9490\">(729)</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps6778 ss692\"><div><div class=\"ps9474 ss397\"><span class=\"f charStyle-1bac868e ps630\">Exchange differences<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9518 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9484\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9519 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:52.87pt\"></span></span><span class=\"ps749\">6</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9520 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9478\">170</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9521 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9478\">176</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps4839 ss692\"><div><div class=\"ps9474 ss397\"><span class=\"f charStyle-23b55a92 ps39\">31 December 2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9522 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9484\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9523 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9484\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9525 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.61pt\"></span></span><span class=\"ps9524\">2,987</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9526 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.61pt\"></span></span><span class=\"ps9524\">2,987</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=\"ps6021 ss692\"><div><div class=\"ps9474 ss397\"><span class=\"f charStyle-b07b4361 ps39\">Carrying amount<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9527 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9484\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9528 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9484\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9529 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.44pt\"></span></span><span class=\"ps9502\">10,337</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9530 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.44pt\"></span></span><span class=\"ps9502\">10,337</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7512 ss0\"><div class=\"ss176 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:18.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps37 ss695\"><div><div class=\"ps9466 ss314\"><span class=\"f charStyle-4979afbe ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9533 ss696\" style=\"overflow:hidden\"><div><div class=\"ps9467 ss163\"><span class=\"f charStyle-281247bf ps9531\">Leasehold <span class=\"f ps40\"> </span></span></div><div class=\"ps9469 ss163\"><span class=\"f charStyle-281247bf ps9532\">equipment</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7262 ss696\" style=\"overflow:hidden\"><div><div class=\"ps9467 ss163\"><span class=\"f charStyle-281247bf ps6123\">Warehouse <span class=\"f ps40\"> </span></span></div><div class=\"ps9469 ss163\"><span class=\"f charStyle-281247bf ps9534\">facilities</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9536 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-281247bf ps9535\">Office space<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2129 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-281247bf ps6516\">Total<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9477 ss695\"><div><div class=\"ps2579 ss314\"><span class=\"f charStyle-b07b4361 ps39\">Cost 2023<span class=\"f ps40\"> </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:18.75pt\"><td style=\"padding:0\"><div class=\"ps5644 ss695\"><div><div class=\"ps9474 ss314\"><span class=\"f charStyle-1bac868e ps630\">Beginning of financial year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9537 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">464</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9538 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9539 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6526\">1,681</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9540 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6526\">2,145</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps5277 ss695\"><div><div class=\"ps9474 ss314\"><span class=\"f charStyle-1bac868e ps630\">Acquisition of businesses<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9541 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9542 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">421</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9543 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">612</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9544 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6526\">1,033</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps761 ss695\"><div><div class=\"ps9474 ss314\"><span class=\"f charStyle-1bac868e ps630\">Exchange differences<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9545 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9546 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.1pt\"></span></span><span class=\"ps8800\">(12)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9547 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.1pt\"></span></span><span class=\"ps8800\">(32)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9548 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.1pt\"></span></span><span class=\"ps8800\">(44)</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5667 ss695\"><div><div class=\"ps9474 ss314\"><span class=\"f charStyle-23b55a92 ps39\">31 December 2023<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9549 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8824\">464</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9550 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8824\">409</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9551 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.11pt\"></span></span><span class=\"ps6634\">2,261</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9552 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.11pt\"></span></span><span class=\"ps6634\">3,134</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2205 ss695\"><div><div class=\"ps9474 ss314\"><span class=\"f charStyle-b07b4361 ps39\">Accumulated depreciation<span class=\"f ps40\"> </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:18.75pt\"><td style=\"padding:0\"><div class=\"ps3757 ss695\"><div><div class=\"ps9474 ss314\"><span class=\"f charStyle-1bac868e ps630\">Beginning of financial year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9553 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">381</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9554 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9555 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6526\">1,477</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9556 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6526\">1,858</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps4816 ss695\"><div><div class=\"ps9474 ss314\"><span class=\"f charStyle-1bac868e ps630\">Depreciation charge<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9557 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.52pt\"></span></span><span class=\"ps6657\">83</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9558 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.52pt\"></span></span><span class=\"ps6657\">30</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9559 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">221</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9560 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">334</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps9509 ss695\"><div><div class=\"ps9474 ss314\"><span class=\"f charStyle-1bac868e ps630\">Exchange differences<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9561 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9563 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:54.95pt\"></span></span><span class=\"ps9562\">(6)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9564 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.1pt\"></span></span><span class=\"ps8800\">(25)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9565 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.1pt\"></span></span><span class=\"ps8800\">(31)</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6306 ss695\"><div><div class=\"ps9474 ss314\"><span class=\"f charStyle-23b55a92 ps39\">31 December 2023<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9566 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8824\">464</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9568 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:54.88pt\"></span></span><span class=\"ps9567\">24</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9569 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.11pt\"></span></span><span class=\"ps6634\">1,673</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9570 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.11pt\"></span></span><span class=\"ps6634\">2,161</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=\"ps6778 ss695\"><div><div class=\"ps9474 ss314\"><span class=\"f charStyle-b07b4361 ps39\">Carrying amount<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9571 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9572 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8824\">385</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9573 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8824\">588</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9574 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8824\">973</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7512 ss0\"><div class=\"ss193 ws0 ps67\"><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=\"ps37 ss698\"><div><div class=\"ps9575 ss697\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9576 ss699\"><div><div class=\"ps6223 ss297\"><span class=\"f charStyle-281247bf ps3737\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9577 ss699\"><div><div class=\"ps6223 ss297\"><span class=\"f charStyle-054ead99 ps3737\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5310 ss699\"><div><div class=\"ps6223 ss297\"><span class=\"f charStyle-054ead99 ps3737\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps3702 ss698\"><div><div class=\"ps9578 ss697\"><span class=\"f charStyle-1bac868e ps630\">Lease liabilities at 1 January (current and <span class=\"f ps40\"> </span></span></div><div class=\"ps6223 ss697\"><span class=\"f charStyle-1bac868e ps630\">non-current lease)</span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9579 ss699\"><div><div class=\"ps6223 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7268\">10,971</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9581 ss699\"><div><div class=\"ps6223 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">993</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9582 ss699\"><div><div class=\"ps6223 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">279</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps2163 ss700\"><div><div class=\"ps4288 ss697\"><span class=\"f charStyle-1bac868e ps630\">Acquisition of subsidiaries<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9583 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9584 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9585 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">1,299</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps2167 ss700\"><div><div class=\"ps4288 ss697\"><span class=\"f charStyle-1bac868e ps630\">Additions during the year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9586 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">4,640</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9587 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7268\">11,909</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9588 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps2081 ss700\"><div><div class=\"ps4288 ss697\"><span class=\"f charStyle-1bac868e ps630\">Exchange differences<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9589 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9591 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.27pt\"></span></span><span class=\"ps9590\">30</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9593 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.85pt\"></span></span><span class=\"ps9592\">(16)</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2175 ss700\"><div><div class=\"ps4288 ss697\"><span class=\"f charStyle-1bac868e ps630\">Repayment of lease obligations<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9595 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.2pt\"></span></span><span class=\"ps9594\">(2,072)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9596 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.2pt\"></span></span><span class=\"ps9594\">(1,961)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9598 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46pt\"></span></span><span class=\"ps9597\">(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=\"ps2010 ss700\"><div><div class=\"ps4288 ss697\"><span class=\"f charStyle-b07b4361 ps39\">Total lease liabilities at 31 December<span class=\"f ps40\"> </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=\"ps9599 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7299\">13,539</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9600 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7299\">10,971</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9602 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.46pt\"></span></span><span class=\"ps9601\">993</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8264 ss700\"><div><div class=\"ps4288 ss697\"><span class=\"f charStyle-b07b4361 ps39\">Current<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9604 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-23b55a92 ps9603\">1,057<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9605 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-b07b4361 ps9603\">1,274<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9607 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-b07b4361 ps9606\">601<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps7396 ss700\"><div><div class=\"ps4288 ss697\"><span class=\"f charStyle-b07b4361 ps39\">Non-current<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9609 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-23b55a92 ps9608\">12,482<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9610 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-b07b4361 ps9603\">9,697<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9611 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-b07b4361 ps9606\">392<span class=\"f ps40\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Accounting policies<span id=\"i5b93fa0e4eeb499581f0d02dbf58f2fb\"></span></span></div><div class=\"ps8676 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Right-of-Use Assets <span id=\"if3e7eb2c164547ba99ae198c39355d35\"></span></span></div><div class=\"ps8677 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The Group recognises a right-of-use asset and lease liability at the date on which the underlying asset is </span></div><div class=\"ps8678 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">made available for use. Right-of-use assets are measured at cost, which comprises the initial measurement </span></div><div class=\"ps8679 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">of the lease liability using an incremental borrowing rate adjusted for any lease payments made at or before </span></div><div class=\"ps8680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">the commencement date and any lease incentives received. Any initial direct costs that would not have been </span></div><div class=\"ps8701 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">incurred if the lease had not been obtained are included in to the carrying amount of the right-of-use </span></div><div class=\"ps9643 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">assets.</span></div><div class=\"ps8683 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The right-of-use asset is subsequently measured at cost, less any accumulated depreciation and impairment </span></div><div class=\"ps8684 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">losses, and adjusted for any remeasurement of the lease liability.</span></div><div class=\"ps3200 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Right-of-use assets are depreciated on a straight-line basis over the lease term.</span></div><div class=\"ps9644 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Right-of-use assets are tested for impairment whenever there is objective evidence or an indication that </span></div><div class=\"ps9645 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">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-529": {
   "value": "<div class=\"ps7684 ss0\"><div class=\"ss118 ws0 ps2924\"><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=\"ps37 ss615\"><div><div class=\"ps747 ss614\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7686 ss473\"><div><div class=\"ps41 ss336\"><span class=\"f charStyle-054ead99 ps6311\">Note<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6203 ss473\"><div><div class=\"ps41 ss336\"><span class=\"f charStyle-281247bf ps6312\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7687 ss473\"><div><div class=\"ps41 ss336\"><span class=\"f charStyle-054ead99 ps6312\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6049 ss473\"><div><div class=\"ps41 ss336\"><span class=\"f charStyle-054ead99 ps6312\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps43 ss616\"><div><div class=\"ps435 ss614\"><span class=\"f charStyle-b07b4361 ps39\">Administrative expenses<span class=\"f ps40\"> </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=\"ps631 ss616\"><div><div class=\"ps435 ss614\"><span class=\"f charStyle-1bac868e ps630\">Depreciation and amortisation<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7692 ss617\"><div><div class=\"ps7689 ss336\"><span class=\"f charStyle-e5ec5c44 ps7688\">\u00a012\u00a0,\u00a013\u00a0,\u00a014<span class=\"f ps40\"> </span></span></div><div class=\"ps7691 ss336\"><span class=\"f charStyle-e5ec5c44 ps7690\">\u00a0</span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7693 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">3,549</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7694 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">2,522</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7695 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6328\">534</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5277 ss616\"><div><div class=\"ps435 ss614\"><span class=\"f charStyle-1bac868e ps630\">Employee compensation<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7697 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44 ps7696\">6<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7698 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6317\">46,282</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7699 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6317\">33,132</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7700 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6317\">18,889</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps2081 ss616\"><div><div class=\"ps435 ss614\"><span class=\"f charStyle-1bac868e ps630\">Repair and maintenance expenses<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7701 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">3,449</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7702 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">3,020</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7703 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">1,123</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps767 ss616\"><div><div class=\"ps435 ss614\"><span class=\"f charStyle-1bac868e ps630\">Legal and professional fees<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7704 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">9,087</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7705 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">7,576</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7706 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">2,122</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5162 ss616\"><div><div class=\"ps435 ss614\"><span class=\"f charStyle-1bac868e ps630\">Transaction costs<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7707 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6343\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7708 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6343\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7709 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">7,707</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps7710 ss616\"><div><div class=\"ps435 ss614\"><span class=\"f charStyle-1bac868e ps630\">Rental expenses<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7711 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">2,484</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7712 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">1,757</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7713 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6328\">751</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps61 ss616\"><div><div class=\"ps435 ss614\"><span class=\"f charStyle-1bac868e ps630\">Travel expense<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps6427 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">2,393</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7714 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">1,988</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7715 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6328\">985</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps7716 ss616\"><div><div class=\"ps435 ss614\"><span class=\"f charStyle-1bac868e ps630\">Marketing and entertainment expenses<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7717 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6328\">968</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7718 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">1,283</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7719 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6328\">602</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5711 ss616\"><div><div class=\"ps435 ss614\"><span class=\"f charStyle-1bac868e ps630\">Other expenses<span class=\"f ps40\"> </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=\"ps7720 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">6,414</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7721 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">5,823</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7722 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">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=\"ps6007 ss616\"><div><div class=\"ps435 ss614\"><span class=\"f charStyle-b07b4361 ps39\">Total administrative expenses<span class=\"f ps40\"> </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=\"ps7723 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7402\">74,626</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7724 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7402\">57,101</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7725 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7402\">34,458</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps2447 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">Transaction costs in 2023 include all costs related to the business combination with Eneti, such as advisory, </span></div><div class=\"ps2448 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">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 ps183\">Note 6</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Employee Compensation<span id=\"i8d8ad33b79984ae59384330ee8f2651b\"></span></span></div><div class=\"ps7795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Onshore - presented within administrative expenses<span id=\"ie7fc78a689484c6b8e5f52ffcbd5013b\"></span></span></div><div class=\"ps7823 ss0\"><div class=\"ss613 ws0 ps67\"><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=\"ps37 ss619\"><div><div class=\"ps6278 ss578\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7262 ss468\"><div><div class=\"ps5127 ss452\"><span class=\"f charStyle-054ead99 ps7796\">Note<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7797 ss468\"><div><div class=\"ps5127 ss452\"><span class=\"f charStyle-281247bf ps4658\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7798 ss468\"><div><div class=\"ps5127 ss452\"><span class=\"f charStyle-054ead99 ps4658\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6315 ss468\"><div><div class=\"ps5127 ss452\"><span class=\"f charStyle-054ead99 ps4658\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4698 ss620\"><div><div class=\"ps2573 ss578\"><span class=\"f charStyle-1bac868e ps630\">Wages and Salaries<span class=\"f ps40\"> </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=\"ps7800 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.52pt\"></span></span><span class=\"ps7799\">37,322</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5138 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.52pt\"></span></span><span class=\"ps7799\">29,340</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7801 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.52pt\"></span></span><span class=\"ps7799\">16,957</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"padding:0\"><div class=\"ps6218 ss620\"><div><div class=\"ps7216 ss578\"><span class=\"f charStyle-1bac868e ps630\">Employer's contribution to defined <span class=\"f ps40\"> </span></span></div><div class=\"ps7217 ss578\"><span class=\"f charStyle-1bac868e ps630\">contribution plans</span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7803 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.37pt\"></span></span><span class=\"ps7802\">3,765</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7804 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.37pt\"></span></span><span class=\"ps7802\">1,635</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6329 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7805\">847</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"padding:0\"><div class=\"ps7806 ss620\"><div><div class=\"ps2573 ss578\"><span class=\"f charStyle-1bac868e ps630\">Share based payment expense<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7808 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-e5ec5c44 ps7807\">7<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7809 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.37pt\"></span></span><span class=\"ps7802\">2,071</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7810 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.37pt\"></span></span><span class=\"ps7802\">1,662</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7811 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.37pt\"></span></span><span class=\"ps7802\">1,134</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7812 ss620\"><div><div class=\"ps2573 ss578\"><span class=\"f charStyle-1bac868e ps630\">Other short-term benefits<span class=\"f ps40\"> </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=\"ps7813 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.37pt\"></span></span><span class=\"ps7802\">3,124</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7814 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7805\">495</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7815 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7805\">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=\"ps2210 ss620\"><div><div class=\"ps2573 ss578\"><span class=\"f charStyle-b07b4361 ps39\">Total onshore employee compensation<span class=\"f ps40\"> </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=\"ps7817 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:17.44pt\"></span></span><span class=\"ps7816\">46,282</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7818 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:17.44pt\"></span></span><span class=\"ps7816\">33,132</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7819 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:17.44pt\"></span></span><span class=\"ps7816\">19,549</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps6305 ss620\"><div><div class=\"ps2573 ss578\"><span class=\"f charStyle-1bac868e ps630\">Average number of employees<span class=\"f ps40\"> </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=\"ps7820 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7805\">307</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7821 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7805\">242</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7822 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7805\">113</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7828 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In 2023, employee compensation includes </span><span class=\"f charStyle-c1b8f9f6 ps7824\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7825\"> </span><span class=\"f charStyle-c1b8f9f6 ps7826\">660\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7827\"> related to bonus paid, included in transaction </span></div><div class=\"ps7829 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">costs. </span></div><div class=\"ps7830 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Accounting policies</span></div><div class=\"ps7831 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Employee benefits are recognised as an expense, unless the cost qualifies for capitalisation as an asset.</span></div><div class=\"ps5285 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Employee compensation includes wages and salaries, including compensated absence and pensions, as </span></div><div class=\"ps5286 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">well as other social security contributions made to the entity\u2019s employees or public and government </span></div><div class=\"ps5287 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">authoriti</span><span class=\"f charStyle-c1b8f9f6 ps7832\">es. </span></div><div class=\"ps7795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps2477\">Offshore - presented within cost of sales<span id=\"id2cb925291854c169160ab294622a4c8\"></span></span></div><div class=\"ps7823 ss0\"><div class=\"ss118 ws0 ps2924\"><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=\"ps37 ss427\"><div><div class=\"ps7618 ss426\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7834 ss622\"><div><div class=\"ps4441 ss448\"><span class=\"f charStyle-054ead99 ps7833\">Note<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7835 ss56\"><div><div class=\"ps4441 ss50\"><span class=\"f charStyle-281247bf ps6792\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7836 ss56\"><div><div class=\"ps4441 ss50\"><span class=\"f charStyle-054ead99 ps6792\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7837 ss56\"><div><div class=\"ps4441 ss50\"><span class=\"f charStyle-054ead99 ps6792\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps439 ss427\"><div><div class=\"ps435 ss426\"><span class=\"f charStyle-1bac868e ps630\">Wages and Salaries<span class=\"f ps40\"> </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=\"ps7839 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.02pt\"></span></span><span class=\"ps7838\">46,008</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7840 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.02pt\"></span></span><span class=\"ps7838\">30,043</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7841 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.02pt\"></span></span><span class=\"ps7838\">14,056</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps460 ss427\"><div><div class=\"ps435 ss426\"><span class=\"f charStyle-1bac868e ps630\">Employer's contribution to defined contribution plans<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7843 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7842\">3,557</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7844 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7842\">2,059</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7845 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7842\">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=\"ps5518 ss427\"><div><div class=\"ps435 ss426\"><span class=\"f charStyle-1bac868e ps630\">Other short-term benefits<span class=\"f ps40\"> </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=\"ps7847 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7846\">523</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7848 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7846\">183</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7849 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7846\">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=\"ps5527 ss427\"><div><div class=\"ps435 ss426\"><span class=\"f charStyle-b07b4361 ps39\">Total offshore employee compensation<span class=\"f ps40\"> </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=\"ps7851 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:12.94pt\"></span></span><span class=\"ps7850\">50,088</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7852 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:12.94pt\"></span></span><span class=\"ps7850\">32,285</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7853 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:12.94pt\"></span></span><span class=\"ps7850\">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=\"ps5532 ss427\"><div><div class=\"ps435 ss426\"><span class=\"f charStyle-1bac868e ps630\">Average number of employees<span class=\"f ps40\"> </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=\"ps7854 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7846\">586</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7855 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7846\">364</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7856 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7846\">182</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7857 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps2477\">Total<span id=\"i99e227df99624d4e8e1fce758cf46cb6\"></span></span></div><div class=\"ps7881 ss0\"><div class=\"ss118 ws0 ps2924\"><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=\"ps37 ss623\"><div><div class=\"ps747 ss426\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7834 ss464\"><div><div class=\"ps41 ss448\"><span class=\"f charStyle-054ead99 ps7833\">Note<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7835 ss624\"><div><div class=\"ps41 ss50\"><span class=\"f charStyle-281247bf ps6792\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7836 ss624\"><div><div class=\"ps41 ss50\"><span class=\"f charStyle-054ead99 ps6792\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7837 ss624\"><div><div class=\"ps41 ss50\"><span class=\"f charStyle-054ead99 ps6792\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps43 ss427\"><div><div class=\"ps435 ss426\"><span class=\"f charStyle-1bac868e ps630\">Wages and Salaries<span class=\"f ps40\"> </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=\"ps7858 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.02pt\"></span></span><span class=\"ps7838\">83,330</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7859 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.02pt\"></span></span><span class=\"ps7838\">59,383</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7860 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.02pt\"></span></span><span class=\"ps7838\">31,013</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps631 ss427\"><div><div class=\"ps435 ss426\"><span class=\"f charStyle-1bac868e ps630\">Employer's contribution to defined contribution plans<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7861 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7842\">7,322</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7862 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7842\">3,694</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7863 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7842\">1,971</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5277 ss427\"><div><div class=\"ps435 ss426\"><span class=\"f charStyle-1bac868e ps630\">Share based payment expense<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7865 ss622\"><div><div class=\"ps435 ss448\"><span class=\"f charStyle-e5ec5c44 ps7864\">7<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7866 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7842\">2,071</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7867 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7842\">1,662</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7868 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7842\">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=\"ps2081 ss427\"><div><div class=\"ps435 ss426\"><span class=\"f charStyle-1bac868e ps630\">Other short-term benefits<span class=\"f ps40\"> </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=\"ps7869 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7842\">3,647</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7870 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7846\">678</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7871 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7842\">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=\"ps767 ss427\"><div><div class=\"ps435 ss426\"><span class=\"f charStyle-b07b4361 ps39\">Total employee compensation<span class=\"f ps40\"> </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=\"ps7872 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:12.94pt\"></span></span><span class=\"ps7850\">96,370</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7873 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:12.94pt\"></span></span><span class=\"ps7850\">65,417</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7874 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:12.94pt\"></span></span><span class=\"ps7850\">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=\"ps5162 ss427\"><div><div class=\"ps435 ss426\"><span class=\"f charStyle-1bac868e ps630\">Average number of full time employees<span class=\"f ps40\"> </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=\"ps7875 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7846\">893</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7876 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7846\">606</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7877 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7846\">295</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps7710 ss625\"><div><div class=\"ps2702 ss426\"><span class=\"f charStyle-cb69ec08 ps630\">Number of employees at the end of the reporting period<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7878 ss626\"><div><div class=\"ps2702 ss50\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7842\">1,073</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7879 ss626\"><div><div class=\"ps2702 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7846\">659</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7880 ss626\"><div><div class=\"ps2702 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7846\">570</span></span></div></div></div></td></tr></tbody></table></div></div></div></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Eneti employees, both onshore and offshore, joined the Group by the end of December 2023. Thus, the </span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">average number of full-time employees as of 2023 reflects the number of employees in Eneti divided by 12 </span></div><div class=\"ps7161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">months. Eneti had </span><span class=\"f charStyle-c1b8f9f6 ps7884\">99</span><span class=\"f charStyle-c1b8f9f6 ps7885\"> onshore full time employees and </span><span class=\"f charStyle-c1b8f9f6 ps7886\">176</span><span class=\"f charStyle-c1b8f9f6 ps7887\"> seafarers by the end of 2023.</span></div><div class=\"ps419 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Labour costs related to certain employees who are working on the management of the newbuilding </span></div><div class=\"ps420 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">process have been capitalised. These capita</span><span class=\"f charStyle-c1b8f9f6 ps7888\">lised costs amounted to</span><span class=\"f charStyle-c1b8f9f6 ps7889\"> </span><span class=\"f charStyle-c1b8f9f6 ps7890\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7891\"> </span><span class=\"f charStyle-c1b8f9f6 ps7892\">7.8</span><span class=\"f charStyle-c1b8f9f6 ps7893\"> m</span><span class=\"f charStyle-c1b8f9f6 ps7894\">illion</span><span class=\"f charStyle-c1b8f9f6 ps7895\"> in </span><span class=\"f charStyle-c1b8f9f6 ps7896\">2025</span><span class=\"f charStyle-c1b8f9f6 ps7897\">, </span><span class=\"f charStyle-c1b8f9f6 ps7898\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7899\"> </span><span class=\"f charStyle-c1b8f9f6 ps7900\">2.7\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7901\"> </span></div><div class=\"ps421 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">in </span><span class=\"f charStyle-c1b8f9f6 ps5058\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7902\"> and </span><span class=\"f charStyle-c1b8f9f6 ps7903\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7904\"> </span><span class=\"f charStyle-c1b8f9f6 ps7905\">1.1\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7906\"> in</span><span class=\"f charStyle-c1b8f9f6 ps7907\"> </span><span class=\"f charStyle-c1b8f9f6 ps7908\">2023</span><span class=\"f charStyle-c1b8f9f6 ps7909\"> and are recognised under assets under construction.</span></div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 7</span></div><div class=\"ps6919 ss0\" style=\"font-size:16pt\"><span class=\"f charStyle-940783b5 ps183\">Long Term Incentive <span id=\"i8f047e73114343e0ae923e24234b73ba\"></span></span><span class=\"f charStyle-940783b5 ps7939\">Programmes</span></div><div class=\"ps7183 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The following share-based long-term incentive programmes were in place as of </span><span class=\"f charStyle-c1b8f9f6 ps7940\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps7941\">:</span></div><div class=\"ps7946 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">(i) In January 2022, the Executive Management and select employees were granted from </span><span class=\"f charStyle-c1b8f9f6 ps7942\">10,393</span><span class=\"f charStyle-c1b8f9f6 ps7943\"> to </span><span class=\"f charStyle-c1b8f9f6 ps7944\">55,430</span><span class=\"f charStyle-c1b8f9f6 ps7945\"> </span></div><div class=\"ps7947 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Restricted Share Units (RSU) which fully vested and were issued in July 2024. The total fair value of the RSU </span></div><div class=\"ps7948 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">allocation is calculated based on the Company's closing share price on Nasdaq Copenhagen A/S on the day </span></div><div class=\"ps7956 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">of grant, and the value is </span><span class=\"f charStyle-c1b8f9f6 ps7949\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7950\"> </span><span class=\"f charStyle-c1b8f9f6 ps7951\">394\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7952\"> </span><span class=\"f charStyle-c1b8f9f6 ps7953\">(</span><span class=\"f charStyle-c1b8f9f6 ps7954\">EUR3.3</span><span class=\"f charStyle-c1b8f9f6 ps7955\"> per RSU). As the RSUs fully vested in 2024, there was </span></div><div class=\"ps7966 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">no</span><span class=\"f charStyle-c1b8f9f6 ps7957\"> expense recognised in profit and loss in the current year (</span><span class=\"f charStyle-c1b8f9f6 ps7958\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7959\"> </span><span class=\"f charStyle-c1b8f9f6 ps7960\">53\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7961\"> in </span><span class=\"f charStyle-c1b8f9f6 ps7962\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7963\">; EUR </span><span class=\"f charStyle-c1b8f9f6 ps7964\">143\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7965\"> in </span></div><div class=\"ps7968 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">2023</span><span class=\"f charStyle-c1b8f9f6 ps7967\">).</span></div><div class=\"ps7973 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">(ii) In January 2022, the Executive Management and select employees were granted from </span><span class=\"f charStyle-c1b8f9f6 ps7969\">10,393</span><span class=\"f charStyle-c1b8f9f6 ps7970\"> to </span><span class=\"f charStyle-c1b8f9f6 ps7971\">55,430</span><span class=\"f charStyle-c1b8f9f6 ps7972\"> </span></div><div class=\"ps7974 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Options in Cadeler shares, which fully vested in May 2024 and expire in April 2027. The strike price ranged </span></div><div class=\"ps7981 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">from </span><span class=\"f charStyle-c1b8f9f6 ps7975\">NOK36.02</span><span class=\"f charStyle-c1b8f9f6 ps7976\"> to </span><span class=\"f charStyle-c1b8f9f6 ps7977\">NOK38.42</span><span class=\"f charStyle-c1b8f9f6 ps7978\">, depending on the exercise period. The fair value of these options was </span><span class=\"f charStyle-c1b8f9f6 ps7979\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7980\"> </span></div><div class=\"ps7987 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">160\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7982\"> (</span><span class=\"f charStyle-c1b8f9f6 ps7983\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7984\"> </span><span class=\"f charStyle-c1b8f9f6 ps7985\">1.3</span><span class=\"f charStyle-c1b8f9f6 ps7986\"> per RSU) as determined at grant date using the Black-Scholes model. As these </span></div><div class=\"ps7992 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">options fully vested in 2024, there was </span><span class=\"f charStyle-c1b8f9f6 ps7988\">no</span><span class=\"f charStyle-c1b8f9f6 ps7989\"> expense recognised in profit and loss in the current year (</span><span class=\"f charStyle-c1b8f9f6 ps7990\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7991\"> </span></div><div class=\"ps8002 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">13\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7993\"> in </span><span class=\"f charStyle-c1b8f9f6 ps7994\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7995\">; </span><span class=\"f charStyle-c1b8f9f6 ps7996\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7997\"> </span><span class=\"f charStyle-c1b8f9f6 ps7998\">62\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7999\"> in </span><span class=\"f charStyle-c1b8f9f6 ps8000\">2023</span><span class=\"f charStyle-c1b8f9f6 ps8001\">). </span></div><div class=\"ps4167 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">(iii) </span><span class=\"f charStyle-c1b8f9f6 ps8003\">In May 2022, the Executive Management and select employees were granted from </span><span class=\"f charStyle-c1b8f9f6 ps8004\">43,420</span><span class=\"f charStyle-c1b8f9f6 ps8005\"> to </span><span class=\"f charStyle-c1b8f9f6 ps1246\">221,719</span><span class=\"f charStyle-c1b8f9f6 ps8006\"> </span></div><div class=\"ps4168 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Options in Cadeler shares, which fully vested in May 2025 and expire in May 2028. The strike price is </span></div><div class=\"ps4169 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">NOK40.24</span><span class=\"f charStyle-c1b8f9f6 ps8007\"> and as of 31 December 2025, </span><span class=\"f charStyle-c1b8f9f6 ps8008\">no</span><span class=\"f charStyle-c1b8f9f6 ps8009\"> options have been exercised. The fair value of these options was </span></div><div class=\"ps4170 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">761\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8010\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8011\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8012\"> </span><span class=\"f charStyle-c1b8f9f6 ps8013\">1.3</span><span class=\"f charStyle-c1b8f9f6 ps8014\"> per RSU) as determined at grant date using the Black-Scholes model. The </span></div><div class=\"ps3415 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">expense recognised in profit and loss for the year amounts to EUR</span><span class=\"f charStyle-c1b8f9f6 ps8015\"> </span><span class=\"f charStyle-c1b8f9f6 ps8016\">173\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8017\"> (EUR </span><span class=\"f charStyle-c1b8f9f6 ps8018\">237\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8019\"> in </span></div><div class=\"ps3416 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">2024; </span><span class=\"f charStyle-c1b8f9f6 ps8020\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8021\"> </span><span class=\"f charStyle-c1b8f9f6 ps8022\">237\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8023\"> </span><span class=\"f charStyle-c1b8f9f6 ps8024\">in </span><span class=\"f charStyle-c1b8f9f6 ps8025\">2023</span><span class=\"f charStyle-c1b8f9f6 ps8026\">).</span><span class=\"f charStyle-c1b8f9f6 ps8027\"> </span><span class=\"f charStyle-c1b8f9f6 ps8028\">The average remaining contractual life for the options as per </span></div><div class=\"ps3417 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps8029\"> is </span><span class=\"f charStyle-c1b8f9f6 ps8030\">2.3 years</span><span class=\"f charStyle-c1b8f9f6 ps8031\">. The annualised volatility of the shares of </span><span class=\"f charStyle-c1b8f9f6 ps8032\">42.5%</span><span class=\"f charStyle-c1b8f9f6 ps8033\"> is based on the historical </span></div><div class=\"ps3418 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">volatility of the share price, annual risk-free interest rate of </span><span class=\"f charStyle-c1b8f9f6 ps8034\">2.8%</span><span class=\"f charStyle-c1b8f9f6 ps8035\">, dividend yield of </span><span class=\"f charStyle-c1b8f9f6 ps8036\">zero</span><span class=\"f charStyle-c1b8f9f6 ps8037\">, expected life until </span></div><div class=\"ps3419 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">expiration date and average share price of </span><span class=\"f charStyle-c1b8f9f6 ps8038\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8039\"> </span><span class=\"f charStyle-c1b8f9f6 ps8040\">3.7</span><span class=\"f charStyle-c1b8f9f6 ps8041\">.</span></div><div class=\"ps8046 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">(iv) In January 2023, the Executive Management and select employees were granted from </span><span class=\"f charStyle-c1b8f9f6 ps8042\">19,760</span><span class=\"f charStyle-c1b8f9f6 ps8043\"> to </span><span class=\"f charStyle-c1b8f9f6 ps8044\">130,416</span><span class=\"f charStyle-c1b8f9f6 ps8045\"> </span></div><div class=\"ps3421 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">RSUs, which fully vested and were issued in July 2025.</span><span class=\"f charStyle-c1b8f9f6 ps8047\"> The fair value of the RSUs\u2019 are </span><span class=\"f charStyle-c1b8f9f6 ps8048\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8049\"> </span><span class=\"f charStyle-c1b8f9f6 ps8050\">1.2\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8051\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8052\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8053\"> </span><span class=\"f charStyle-c1b8f9f6 ps8054\">3.0</span><span class=\"f charStyle-c1b8f9f6 ps8055\"> </span></div><div class=\"ps8056 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">per RSU) as determined at grant date using the Black-Scholes model. The expense recognised in profit and </span></div><div class=\"ps8070 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">loss for the year amounts to EUR</span><span class=\"f charStyle-c1b8f9f6 ps8057\"> </span><span class=\"f charStyle-c1b8f9f6 ps8058\">234\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8059\"> </span><span class=\"f charStyle-c1b8f9f6 ps8060\">(</span><span class=\"f charStyle-c1b8f9f6 ps8061\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8062\"> </span><span class=\"f charStyle-c1b8f9f6 ps8063\">468\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8064\"> in </span><span class=\"f charStyle-c1b8f9f6 ps8065\">2024</span><span class=\"f charStyle-c1b8f9f6 ps8066\">, </span><span class=\"f charStyle-c1b8f9f6 ps8067\">EUR </span><span class=\"f charStyle-c1b8f9f6 ps8068\">498\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8069\"> in 2023).</span></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">(v) In August 2023, the Executive Management and select employees </span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">were granted from </span><span class=\"f charStyle-c1b8f9f6 ps8075\">88,920</span><span class=\"f charStyle-c1b8f9f6 ps8076\"> to </span><span class=\"f charStyle-c1b8f9f6 ps8077\">385,320</span><span class=\"f charStyle-c1b8f9f6 ps8078\"> options in Cadeler shares which </span></div><div class=\"ps7161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">will vest in August 2026 and expire in August 2029. The strike price </span></div><div class=\"ps7164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">will be </span><span class=\"f charStyle-c1b8f9f6 ps8079\">NOK45.49</span><span class=\"f charStyle-c1b8f9f6 ps8080\"> and vesting is conditional upon continued </span></div><div class=\"ps7578 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">employment at Cadeler. The fair value of these options is </span></div><div class=\"ps7579 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">EUR2.2\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8081\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8082\">EUR1.8</span><span class=\"f charStyle-c1b8f9f6 ps8083\"> per option) as determined at grant date using </span></div><div class=\"ps6936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the Black-Scholes model. The expense recognised in profit and loss </span></div><div class=\"ps6937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">for the year amounts to EUR </span><span class=\"f charStyle-c1b8f9f6 ps8084\">500\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8085\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8086\">EUR419\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8087\"> in </span></div><div class=\"ps6940 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">2024</span><span class=\"f charStyle-c1b8f9f6 ps1129\">; </span><span class=\"f charStyle-c1b8f9f6 ps8020\">EUR250\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8088\"> in 2023). The average remaining contractual </span></div><div class=\"ps2794 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">life of the options as of </span><span class=\"f charStyle-c1b8f9f6 ps8089\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps8090\"> is </span><span class=\"f charStyle-c1b8f9f6 ps8091\">3.5 years</span><span class=\"f charStyle-c1b8f9f6 ps8092\">. The </span></div><div class=\"ps2795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">annualised volatility of the shares of </span><span class=\"f charStyle-c1b8f9f6 ps8093\">61.0%</span><span class=\"f charStyle-c1b8f9f6 ps8094\"> is based on the historical </span></div><div class=\"ps2796 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">volatility of the share price, an annual risk-free interest rate of </span><span class=\"f charStyle-c1b8f9f6 ps8095\">2.68%</span><span class=\"f charStyle-c1b8f9f6 ps8096\">, </span></div><div class=\"ps2797 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">a dividend yield of </span><span class=\"f charStyle-c1b8f9f6 ps8097\">zero</span><span class=\"f charStyle-c1b8f9f6 ps8098\">, the expected life until expiration date and </span></div><div class=\"ps2798 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">average share price of </span><span class=\"f charStyle-c1b8f9f6 ps8099\">EUR3.7</span><span class=\"f charStyle-c1b8f9f6 ps8100\">.</span></div><div class=\"ps7177 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">(vi) In May 2024, the Executive Management was granted a total of </span></div><div class=\"ps2800 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">193.011</span><span class=\"f charStyle-c1b8f9f6 ps8101\"> RSUs, which will vest at the end of May 2027. The RSUs\u2019 expire </span></div><div class=\"ps2801 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">at the end of May 2030 and are conditional upon conti</span><span class=\"f charStyle-c1b8f9f6 ps8102\">nued </span></div><div class=\"ps2802 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">employment at Cadeler. The fair value of the RSU\u2019s is </span><span class=\"f charStyle-c1b8f9f6 ps8103\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8104\"> </span><span class=\"f charStyle-c1b8f9f6 ps8105\">1.1\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8106\"> </span></div><div class=\"ps2803 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">(</span><span class=\"f charStyle-c1b8f9f6 ps829\">EUR5.6</span><span class=\"f charStyle-c1b8f9f6 ps8107\"> per RSU) as determined at grant date using the Black-</span></div><div class=\"ps2804 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Scholes model. The expense recognised in profit and loss for the year </span></div><div class=\"ps2805 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">amounts to </span><span class=\"f charStyle-c1b8f9f6 ps7415\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7416\"> </span><span class=\"f charStyle-c1b8f9f6 ps7417\">350\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8108\"> (EUR </span><span class=\"f charStyle-c1b8f9f6 ps8109\">206\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8110\"> in 2024)</span><span class=\"f charStyle-c1b8f9f6 ps8111\">. The </span></div><div class=\"ps2806 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">average remaining contractual life as of </span><span class=\"f charStyle-c1b8f9f6 ps8112\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps8113\"> is </span><span class=\"f charStyle-c1b8f9f6 ps8114\">4.4 </span></div><div class=\"ps2807 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">years</span><span class=\"f charStyle-c1b8f9f6 ps8115\">. The average share price used is </span><span class=\"f charStyle-c1b8f9f6 ps8116\">NOK64.2</span><span class=\"f charStyle-c1b8f9f6 ps8117\">. </span></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">(vii) In May 2024, the Executive Management and select employees </span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">were granted from </span><span class=\"f charStyle-c1b8f9f6 ps8119\">140,372</span><span class=\"f charStyle-c1b8f9f6 ps8120\"> to </span><span class=\"f charStyle-c1b8f9f6 ps8121\">245,651</span><span class=\"f charStyle-c1b8f9f6 ps8122\"> options in Cadeler shares, </span></div><div class=\"ps7161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">which will vest at the end of May 2027 and expire at the end of May </span></div><div class=\"ps7164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">2030. The strike price will be </span><span class=\"f charStyle-c1b8f9f6 ps8123\">NOK74.32</span><span class=\"f charStyle-c1b8f9f6 ps8124\"> and vesting is conditional </span></div><div class=\"ps7578 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">up</span><span class=\"f charStyle-c1b8f9f6 ps8125\">on continued employment at Cadeler. The fair value of these </span></div><div class=\"ps7579 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">options is </span><span class=\"f charStyle-c1b8f9f6 ps8126\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8127\"> </span><span class=\"f charStyle-c1b8f9f6 ps8128\">1.4\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8129\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8130\">EUR1.4</span><span class=\"f charStyle-c1b8f9f6 ps8131\"> per option) as determined at grant </span></div><div class=\"ps6936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">date using the Black-Scholes model. The expense recognised in profit </span></div><div class=\"ps6937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">and loss for the year amounts to EUR</span><span class=\"f charStyle-c1b8f9f6 ps8132\"> </span><span class=\"f charStyle-c1b8f9f6 ps8133\">450\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8134\"> (EUR </span></div><div class=\"ps6940 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">265\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8135\"> in 2024)</span><span class=\"f charStyle-c1b8f9f6 ps8136\">. The average remaining contractual life of the </span></div><div class=\"ps2794 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">options as of </span><span class=\"f charStyle-c1b8f9f6 ps8137\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps8138\"> is </span><span class=\"f charStyle-c1b8f9f6 ps8139\">4.4 years</span><span class=\"f charStyle-c1b8f9f6 ps8140\">. The annualised volatility </span></div><div class=\"ps2795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">of the shares of </span><span class=\"f charStyle-c1b8f9f6 ps8141\">31.2%</span><span class=\"f charStyle-c1b8f9f6 ps8142\"> is based on the historical volatility of the share </span></div><div class=\"ps2796 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">price, annual risk-free interest rate of </span><span class=\"f charStyle-c1b8f9f6 ps8143\">3.63%</span><span class=\"f charStyle-c1b8f9f6 ps8144\">, dividend yield of </span><span class=\"f charStyle-c1b8f9f6 ps8145\">zero</span><span class=\"f charStyle-c1b8f9f6 ps8146\">, </span></div><div class=\"ps2797 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">expected life until expiration date, and average share price of </span></div><div class=\"ps2798 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">NOK64.2</span><span class=\"f charStyle-c1b8f9f6 ps8147\">.</span></div><div class=\"ps7177 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">(viii) In March 2025, the Executive Management and select employees </span></div><div class=\"ps2800 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">were granted from </span><span class=\"f charStyle-c1b8f9f6 ps8119\">42,115</span><span class=\"f charStyle-c1b8f9f6 ps8148\"> to </span><span class=\"f charStyle-c1b8f9f6 ps8149\">631,724</span><span class=\"f charStyle-c1b8f9f6 ps8150\"> options in Cadeler shares, which </span></div><div class=\"ps2801 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">will vest in March 2028 and expire in March 2031. The strike price will </span></div><div class=\"ps2802 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">be </span><span class=\"f charStyle-c1b8f9f6 ps8151\">NOK60.2</span><span class=\"f charStyle-c1b8f9f6 ps8152\"> and vesting is conditional upon continued employment </span></div><div class=\"ps2803 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">at Cadeler. The fair value of these options is </span><span class=\"f charStyle-c1b8f9f6 ps8153\">2\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8154\"> (EUR </span><span class=\"f charStyle-c1b8f9f6 ps8155\">1.4</span><span class=\"f charStyle-c1b8f9f6 ps8156\"> per </span></div><div class=\"ps2804 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">option) as determined at grant date using the Black-Scholes model. </span></div><div class=\"ps2805 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">The expense recognized in profit and loss for the year amounts to </span></div><div class=\"ps2806 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps882\"> </span><span class=\"f charStyle-c1b8f9f6 ps883\">479\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8157\">. The average remaining contractual life of the </span></div><div class=\"ps2807 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">options as of </span><span class=\"f charStyle-c1b8f9f6 ps8137\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps8138\"> is </span><span class=\"f charStyle-c1b8f9f6 ps8139\">5.3 years</span><span class=\"f charStyle-c1b8f9f6 ps8158\">. The annualised volatility </span></div><div class=\"ps2808 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">of the shares is </span><span class=\"f charStyle-c1b8f9f6 ps8159\">31.66%</span><span class=\"f charStyle-c1b8f9f6 ps8160\"> based on historical volatility of the share price </span></div><div class=\"ps2809 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">price, annual risk-free interest rate of </span><span class=\"f charStyle-c1b8f9f6 ps8143\">3.93%</span><span class=\"f charStyle-c1b8f9f6 ps8144\">, a dividend yield of </span><span class=\"f charStyle-c1b8f9f6 ps8161\">zero</span><span class=\"f charStyle-c1b8f9f6 ps8162\">, </span></div><div class=\"ps2810 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">an expected life of </span><span class=\"f charStyle-c1b8f9f6 ps8163\">4 years</span><span class=\"f charStyle-c1b8f9f6 ps8164\"> from grant date and average share price </span></div><div class=\"ps8167 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">of </span><span class=\"f charStyle-c1b8f9f6 ps8165\">NOK52</span><span class=\"f charStyle-c1b8f9f6 ps8166\">. </span></div><div class=\"ps7007 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps916\">Accounting policies<span id=\"i3d9fd592568545fba7f9aaba92e4e114\"></span></span></div><div class=\"ps7569 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps916\">Share-based payments<span id=\"i77a129f43c404185bc9fa311eefc3b72\"></span></span></div><div class=\"ps8168 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Employees (including senior executives) of the Group receive </span></div><div class=\"ps3406 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">remuneration in the form of share-based payments, whereby </span></div><div class=\"ps269 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">employees render services as consideration for equity instruments </span></div><div class=\"ps8169 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">(equity-settled transactions).</span></div><div class=\"ps8170 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps916\">Equity-settled transactions<span id=\"ide32f3e76d934c0fb38aac612e53c8e7\"></span></span></div><div class=\"ps8171 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">The cost of equity-settled transactions is determined by the fair value </span></div><div class=\"ps8172 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">at the date on which the grant is made using an appropriate </span></div><div class=\"ps8173 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">valuation model. That cost is recognised as employee benefits </span></div><div class=\"ps4224 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">expenses, together with a corresponding increase in equity (retained </span></div><div class=\"ps4225 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">earnings), over the period in which the service and, where applicable, </span></div><div class=\"ps4226 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">the performance conditions are fulfilled (the vesting period). The </span></div><div class=\"ps4227 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">cumulative expense recognised for equity-settled transactions at each </span></div><div class=\"ps4228 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">reporting date until the vesting date reflects both the extent to which </span></div><div class=\"ps3255 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">the vesting period has expired and the Group\u2019s best estimate of the </span></div><div class=\"ps8174 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">number of equity instruments that will ultimately vest. The expense or </span></div><div class=\"ps8175 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">credit in the statement of profit or loss for a period represents the </span></div><div class=\"ps8176 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">movement in cumulative expense recognised at the beginning and </span></div><div class=\"ps1941 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">end of that period.</span></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Service and non-market performance conditions are not considered </span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">when determining the grant date fair value of awards. Instead, the </span></div><div class=\"ps7161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">likelihood of these conditions being met is assessed as part of the </span></div><div class=\"ps7164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Group\u2019s best estimate of the number of equity instruments that will </span></div><div class=\"ps7578 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">ultimately vest. Market performance conditions are reflected directly </span></div><div class=\"ps7579 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">in the grant date fair value.</span></div><div class=\"ps7118 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Any other conditions attached to an award, that do not include an </span></div><div class=\"ps7119 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">associated service requirement, are considered to be non-vesting </span></div><div class=\"ps7165 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">conditions. Non-vesting conditions are reflected in the fair value of </span></div><div class=\"ps7166 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">an award and result in an immediate expensing, unless there are also </span></div><div class=\"ps7167 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">service and/or performance conditions.</span></div><div class=\"ps5471 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">No expense is recognised for awards that do not ultimately vest as a </span></div><div class=\"ps7039 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">result non-market performance and/or service conditions not being </span></div><div class=\"ps7040 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">met. </span></div><div class=\"ps5474 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Where awards include a market or non-vesting condition, the </span></div><div class=\"ps5475 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">transactions are treated as vested regardless of whether the market </span></div><div class=\"ps5476 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">or non-vesting condition is satisfied, provided that all other </span></div><div class=\"ps5477 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">performance and/or service conditions are satisfied.</span></div><div class=\"ps7042 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The dilutive effect of outstanding options is reflected as additional </span></div><div class=\"ps5479 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">share dilution in the computation of diluted earnings per share in a </span></div><div class=\"ps5480 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">loss situation only where the loss per share is reduced.</span></div><div class=\"ps7512 ss0\"><div class=\"ss375 ws0 ps67\"><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=\"ps8180 ss629\"><div><div class=\"ps41 ss628\"><span class=\"f charStyle-281247bf ps8179\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps437 ss629\"><div><div class=\"ps41 ss628\"><span class=\"f charStyle-054ead99 ps8179\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8181 ss629\"><div><div class=\"ps41 ss628\"><span class=\"f charStyle-054ead99 ps8179\">2023<span class=\"f ps40\"> </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=\"ps8183 ss631\"><div><div class=\"ps41 ss630\"><span class=\"f charStyle-281247bf ps8182\">Executive management<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#206079;padding:0\"><div class=\"ps8185 ss631\"><div><div class=\"ps41 ss630\"><span class=\"f charStyle-281247bf ps8184\">Other employees<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"padding:0\"><div class=\"ps8186 ss631\"><div><div class=\"ps41 ss630\"><span class=\"f charStyle-054ead99 ps8182\">Executive management<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8187 ss631\"><div><div class=\"ps41 ss630\"><span class=\"f charStyle-054ead99 ps8184\">Other employees<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8188 ss631\"><div><div class=\"ps41 ss630\"><span class=\"f charStyle-054ead99 ps8182\">Executive management<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"padding:0\"><div class=\"ps8189 ss631\"><div><div class=\"ps41 ss630\"><span class=\"f charStyle-054ead99 ps8184\">Other employees<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps45 ss632\"><div><div class=\"ps5628 ss627\"><span class=\"f charStyle-b07b4361 ps39\">Outstanding instruments - <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss627\"><span class=\"f charStyle-b07b4361 ps39\">Options</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8192 ss633\"><div><div class=\"ps8191 ss338\"><span class=\"f charStyle-4979afbe ps8190\">Number<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8195 ss635\"><div><div class=\"ps8191 ss634\"><span class=\"f charStyle-4979afbe ps8193\">WAEP</span><span class=\"f charStyle-88564ae7 ps8194\"><sup>1</sup></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8196 ss633\"><div><div class=\"ps8191 ss338\"><span class=\"f charStyle-4979afbe ps8190\">Number<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8197 ss635\"><div><div class=\"ps8191 ss634\"><span class=\"f charStyle-4979afbe ps8193\">WAEP</span><span class=\"f charStyle-88564ae7 ps8194\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8198 ss633\"><div><div class=\"ps8191 ss338\"><span class=\"f charStyle-64a4cf84 ps8190\">Number<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8199 ss635\"><div><div class=\"ps8191 ss634\"><span class=\"f charStyle-5e156cc0 ps8193\">WAEP</span><span class=\"f charStyle-6df02eca ps8194\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8200 ss633\"><div><div class=\"ps8191 ss338\"><span class=\"f charStyle-64a4cf84 ps8190\">Number<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-right:1pt solid #ecedef;padding:0\"><div class=\"ps752 ss635\"><div><div class=\"ps8191 ss634\"><span class=\"f charStyle-5e156cc0 ps8193\">WAEP</span><span class=\"f charStyle-6df02eca ps8194\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8202 ss633\"><div><div class=\"ps8191 ss338\"><span class=\"f charStyle-64a4cf84 ps8201\">Number<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8203 ss635\"><div><div class=\"ps8191 ss634\"><span class=\"f charStyle-5e156cc0 ps8193\">WAEP</span><span class=\"f charStyle-6df02eca ps8194\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8204 ss633\"><div><div class=\"ps8191 ss338\"><span class=\"f charStyle-64a4cf84 ps8201\">Number<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8205 ss635\"><div><div class=\"ps8191 ss634\"><span class=\"f charStyle-5e156cc0 ps8193\">WAEP</span><span class=\"f charStyle-6df02eca ps8194\"><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=\"ps5277 ss636\"><div><div class=\"ps41 ss627\"><span class=\"f charStyle-1bac868e ps630\">Outstanding at 1 January<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8207 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.37pt\"></span></span><span class=\"ps8206\">1,353,052</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8209 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.47pt\"></span></span><span class=\"ps8208\">4.39</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8210 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.37pt\"></span></span><span class=\"ps8206\">1,487,689</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8211 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.47pt\"></span></span><span class=\"ps8208\">4.76</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8213 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8212\">967,029</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8215 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8214\">3.47</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8216 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8212\">894,123</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8217 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8214\">3.46</span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8218 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8212\">344,589</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8219 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8214\">3.16</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8220 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8212\">330,963</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8221 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8214\">3.15</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps647 ss636\"><div><div class=\"ps41 ss627\"><span class=\"f charStyle-1bac868e ps630\">Granted during the year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8223 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8222\">912,490</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8224 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.47pt\"></span></span><span class=\"ps8208\">5.09</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8225 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8222\">491,341</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8226 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.47pt\"></span></span><span class=\"ps8208\">5.09</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8227 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8212\">386,023</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8228 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8214\">6.24</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8229 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8212\">631,674</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps650 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8214\">6.24</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8230 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8212\">622,440</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8231 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8214\">3.64</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8232 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8212\">563,160</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8233 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8214\">3.64</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps6288 ss636\"><div><div class=\"ps41 ss627\"><span class=\"f charStyle-1bac868e ps630\">Forfeited during the year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8235 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8237 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8239 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.6pt\"></span></span><span class=\"ps8238\">(62,908)</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8240 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.47pt\"></span></span><span class=\"ps8208\">3.80</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8242 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8241\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8244 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8243\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8245 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8241\">\u2014</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8246 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8243\">\u2014</span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8247 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8241\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8248 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8243\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8249 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8241\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8250 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8243\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps8251 ss636\"><div><div class=\"ps41 ss627\"><span class=\"f charStyle-1bac868e ps630\">Exercised during the year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8252 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8253 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8254 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8255 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8256 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8241\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8257 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8214\">3.03</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8258 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.25pt\"></span></span><span class=\"ps7758\">(38,108)</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8259 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8243\">\u2014</span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8260 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8241\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8261 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8243\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8262 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8241\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8263 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8243\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8264 ss636\"><div><div class=\"ps41 ss627\"><span class=\"f charStyle-1bac868e ps630\">Expired during the year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8265 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8266 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8267 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8268 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8269 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8241\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8270 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8243\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8271 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8241\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8272 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8243\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8273 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8241\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8274 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8243\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8275 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8241\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8276 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8243\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4812 ss636\"><div><div class=\"ps41 ss627\"><span class=\"f charStyle-b07b4361 ps39\">Outstanding at 31 December <span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8278 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.17pt\"></span></span><span class=\"ps8277\">2,265,542</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8280 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.03pt\"></span></span><span class=\"ps8279\">4.69</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8281 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.17pt\"></span></span><span class=\"ps8277\">1,916,122</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8282 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.03pt\"></span></span><span class=\"ps8279\">4.90</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8284 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:17.82pt\"></span></span><span class=\"ps8283\">1,353,052</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8285 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44 ps4006\">4.39<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8286 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:17.82pt\"></span></span><span class=\"ps8283\">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=\"ps8287 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44 ps4006\">4.76<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8289 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.42pt\"></span></span><span class=\"ps8288\">967,029</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8290 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44 ps4006\">3.47<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8291 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.42pt\"></span></span><span class=\"ps8288\">894,123</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8292 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44 ps4006\">3.46<span class=\"f ps40\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps8395 ss0\"><div class=\"ss642 ws0 ps67\"><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=\"ps8296 ss629\"><div><div class=\"ps41 ss628\"><span class=\"f charStyle-281247bf ps8179\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8297 ss629\"><div><div class=\"ps41 ss628\"><span class=\"f charStyle-054ead99 ps8179\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8298 ss629\"><div><div class=\"ps41 ss628\"><span class=\"f charStyle-054ead99 ps8179\">2023<span class=\"f ps40\"> </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=\"ps8299 ss631\"><div><div class=\"ps41 ss630\"><span class=\"f charStyle-281247bf ps8182\">Executive management<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#206079;padding:0\"><div class=\"ps8300 ss631\"><div><div class=\"ps41 ss630\"><span class=\"f charStyle-281247bf ps8184\">Other employees<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"padding:0\"><div class=\"ps8301 ss631\"><div><div class=\"ps41 ss630\"><span class=\"f charStyle-054ead99 ps8182\">Executive management<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8302 ss631\"><div><div class=\"ps41 ss630\"><span class=\"f charStyle-054ead99 ps8184\">Other employees<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8303 ss631\"><div><div class=\"ps41 ss630\"><span class=\"f charStyle-054ead99 ps8182\">Executive management<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"padding:0\"><div class=\"ps8304 ss631\"><div><div class=\"ps41 ss630\"><span class=\"f charStyle-054ead99 ps8184\">Other employees<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps45 ss640\"><div><div class=\"ps5628 ss639\"><span class=\"f charStyle-b07b4361 ps39\">Outstanding instruments - <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss639\"><span class=\"f charStyle-b07b4361 ps39\">RSU</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8306 ss633\"><div><div class=\"ps8191 ss338\"><span class=\"f charStyle-4979afbe ps8305\">Number<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8307 ss635\"><div><div class=\"ps8191 ss634\"><span class=\"f charStyle-4979afbe ps8193\">WAEP</span><span class=\"f charStyle-88564ae7 ps8194\"><sup>1</sup></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8308 ss633\"><div><div class=\"ps8191 ss338\"><span class=\"f charStyle-4979afbe ps8305\">Number<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8309 ss635\"><div><div class=\"ps8191 ss634\"><span class=\"f charStyle-4979afbe ps8193\">WAEP</span><span class=\"f charStyle-88564ae7 ps8194\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8310 ss633\"><div><div class=\"ps8191 ss338\"><span class=\"f charStyle-64a4cf84 ps8305\">Number<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8311 ss635\"><div><div class=\"ps8191 ss634\"><span class=\"f charStyle-5e156cc0 ps8193\">WAEP</span><span class=\"f charStyle-6df02eca ps8194\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8312 ss633\"><div><div class=\"ps8191 ss338\"><span class=\"f charStyle-64a4cf84 ps8305\">Number<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8313 ss635\"><div><div class=\"ps8191 ss634\"><span class=\"f charStyle-5e156cc0 ps8193\">WAEP</span><span class=\"f charStyle-6df02eca ps8194\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8315 ss633\"><div><div class=\"ps8191 ss338\"><span class=\"f charStyle-64a4cf84 ps8314\">Number<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8316 ss635\"><div><div class=\"ps8191 ss634\"><span class=\"f charStyle-5e156cc0 ps8193\">WAEP</span><span class=\"f charStyle-6df02eca ps8194\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8317 ss633\"><div><div class=\"ps8191 ss338\"><span class=\"f charStyle-64a4cf84 ps8314\">Number<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8318 ss635\"><div><div class=\"ps8191 ss634\"><span class=\"f charStyle-5e156cc0 ps8193\">WAEP</span><span class=\"f charStyle-6df02eca ps8194\"><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=\"ps5277 ss641\"><div><div class=\"ps41 ss639\"><span class=\"f charStyle-1bac868e ps630\">Outstanding at 1 January<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8319 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8222\">382,707</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8320 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8321 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8222\">205,504</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8322 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8323 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8222\">245,126</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8324 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8325 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8222\">271,327</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8326 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8328 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.02pt\"></span></span><span class=\"ps8327\">55,430</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8329 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8330 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.02pt\"></span></span><span class=\"ps8327\">65,823</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8331 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps647 ss641\"><div><div class=\"ps41 ss639\"><span class=\"f charStyle-1bac868e ps630\">Granted during the year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8332 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8333 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8334 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8335 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8336 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8222\">193,011</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8337 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8338 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8339 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8340 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8222\">189,696</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8341 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8342 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8222\">205,504</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8343 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps6288 ss641\"><div><div class=\"ps41 ss639\"><span class=\"f charStyle-1bac868e ps630\">Forfeited during the year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8344 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8345 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8347 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.45pt\"></span></span><span class=\"ps8346\">(6,847)</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8348 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8349 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8350 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8351 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8352 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8353 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8354 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8355 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8356 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps8251 ss641\"><div><div class=\"ps41 ss639\"><span class=\"f charStyle-1bac868e ps630\">Exercised during the year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8358 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.75pt\"></span></span><span class=\"ps8357\">(189,696)</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8359 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8360 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.75pt\"></span></span><span class=\"ps8357\">(198,657)</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8361 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8362 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.6pt\"></span></span><span class=\"ps8238\">(55,430)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8363 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8364 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.6pt\"></span></span><span class=\"ps8238\">(65,823)</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8365 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8366 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8367 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8368 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8369 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8264 ss641\"><div><div class=\"ps41 ss639\"><span class=\"f charStyle-1bac868e ps630\">Expired during the year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8370 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8371 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8372 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8373 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8374 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8375 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8376 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8377 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8378 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8379 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8380 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8381 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4812 ss641\"><div><div class=\"ps41 ss639\"><span class=\"f charStyle-b07b4361 ps39\">Outstanding at 31 December<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8382 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.77pt\"></span></span><span class=\"ps6901\">193,011</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8383 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8384 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8385 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8386 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.42pt\"></span></span><span class=\"ps8288\">382,707</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8388 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44 ps8387\">0<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8389 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.42pt\"></span></span><span class=\"ps8288\">205,504</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8390 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44 ps8387\">0<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8391 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.42pt\"></span></span><span class=\"ps8288\">245,126</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8392 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44 ps8387\">0<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8393 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.42pt\"></span></span><span class=\"ps8288\">271,327</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8394 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44 ps8387\">0<span class=\"f ps40\"> </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 ps183\">Note 8</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Board of Directors and Executive Management Compensation<span id=\"i430bdd9f93894189b006496fc30f907b\"></span></span></div><div class=\"ps7684 ss0\"><div class=\"ss650 ws0 ps67\"><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=\"ps8400 ss645\"><div><div class=\"ps41 ss644\"><span class=\"f charStyle-281247bf ps8399\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"padding:0\"><div class=\"ps7531 ss645\"><div><div class=\"ps41 ss644\"><span class=\"f charStyle-054ead99 ps8399\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"padding:0\"><div class=\"ps8401 ss645\"><div><div class=\"ps41 ss644\"><span class=\"f charStyle-054ead99 ps8399\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:30.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps43 ss646\"><div><div class=\"ps8402 ss643\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8407 ss647\"><div><div class=\"ps8404 ss297\"><span class=\"f charStyle-281247bf ps8403\">Board of <span class=\"f ps40\"> </span></span></div><div class=\"ps8406 ss297\"><span class=\"f charStyle-281247bf ps8405\">directors</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8410 ss647\"><div><div class=\"ps8404 ss297\"><span class=\"f charStyle-281247bf ps8408\">Executive <span class=\"f ps40\"> </span></span></div><div class=\"ps8406 ss297\"><span class=\"f charStyle-281247bf ps8409\">management</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8411 ss647\"><div><div class=\"ps8406 ss297\"><span class=\"f charStyle-281247bf ps7690\">Total<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8412 ss647\"><div><div class=\"ps8404 ss297\"><span class=\"f charStyle-054ead99 ps8403\">Board of <span class=\"f ps40\"> </span></span></div><div class=\"ps8406 ss297\"><span class=\"f charStyle-054ead99 ps8405\">directors</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8413 ss647\"><div><div class=\"ps8404 ss297\"><span class=\"f charStyle-054ead99 ps8408\">Executive <span class=\"f ps40\"> </span></span></div><div class=\"ps8406 ss297\"><span class=\"f charStyle-054ead99 ps8409\">management</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8414 ss647\"><div><div class=\"ps8406 ss297\"><span class=\"f charStyle-054ead99 ps7690\">Total<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8415 ss647\"><div><div class=\"ps8404 ss297\"><span class=\"f charStyle-054ead99 ps8403\">Board of <span class=\"f ps40\"> </span></span></div><div class=\"ps8406 ss297\"><span class=\"f charStyle-054ead99 ps8405\">directors</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8416 ss647\"><div><div class=\"ps8404 ss297\"><span class=\"f charStyle-054ead99 ps8408\">Executive <span class=\"f ps40\"> </span></span></div><div class=\"ps8406 ss297\"><span class=\"f charStyle-054ead99 ps8409\">management</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8417 ss647\"><div><div class=\"ps8406 ss297\"><span class=\"f charStyle-054ead99 ps7690\">Total<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2069 ss648\"><div><div class=\"ps41 ss643\"><span class=\"f charStyle-1bac868e ps630\">Wages, salaries and board fees<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8419 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8418\">419</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8420 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8418\">998</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8422 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">1,417</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8423 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8418\">334</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8424 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8418\">955</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8425 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">1,289</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8426 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8418\">183</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8427 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8418\">821</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8428 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">1,004</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps2167 ss648\"><div><div class=\"ps41 ss643\"><span class=\"f charStyle-1bac868e ps630\">Pension costs - defined contribution plans<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8430 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8429\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8431 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8418\">100</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8432 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8418\">100</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8433 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8429\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8435 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8434\">95</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8436 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8434\">95</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8437 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8429\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8438 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8434\">29</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8439 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8434\">29</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps2197 ss648\"><div><div class=\"ps41 ss643\"><span class=\"f charStyle-1bac868e ps630\">Share based payment<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8440 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8429\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8441 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">1,249</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8442 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">1,249</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8443 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8429\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8444 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8418\">957</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8445 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8418\">957</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8446 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8429\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8447 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8418\">588</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8448 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8418\">588</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps5667 ss648\"><div><div class=\"ps41 ss643\"><span class=\"f charStyle-1bac868e ps630\">Other short-term benefits<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8449 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8429\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8450 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8434\">35</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8451 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8434\">35</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8452 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8429\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8453 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8434\">41</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8454 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8434\">41</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8455 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8429\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8456 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8434\">55</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8457 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8434\">55</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5673 ss648\"><div><div class=\"ps41 ss643\"><span class=\"f charStyle-1bac868e ps630\">Cash bonus<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8458 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8429\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8459 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">2,473</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8460 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">2,473</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8461 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8429\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8462 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">1,197</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8463 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">1,197</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8464 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8429\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8465 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">1,155</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8466 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">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=\"ps1819 ss648\"><div><div class=\"ps41 ss643\"><span class=\"f charStyle-b07b4361 ps39\">Total management compensation<span class=\"f ps40\"> </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=\"ps8468 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.11pt\"></span></span><span class=\"ps8467\">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=\"ps8470 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.51pt\"></span></span><span class=\"ps8469\">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=\"ps8471 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.51pt\"></span></span><span class=\"ps8469\">5,274</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8472 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.11pt\"></span></span><span class=\"ps8467\">334</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8473 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.51pt\"></span></span><span class=\"ps8469\">3,245</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8474 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.51pt\"></span></span><span class=\"ps8469\">3,579</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8475 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.11pt\"></span></span><span class=\"ps8467\">183</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8476 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.51pt\"></span></span><span class=\"ps8469\">2,648</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8477 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.51pt\"></span></span><span class=\"ps8469\">2,831</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps8479 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Executive Management<span id=\"i4aea9fb2a6e3447b861a2c4d2ae241f8\"></span></span></div><div class=\"ps8480 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Executive Management refers to the members of the Executive </span></div><div class=\"ps8481 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Management who are registered with the Danish business authority </span></div><div class=\"ps8482 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">and who have the authority and responsibility for the planning, </span></div><div class=\"ps8483 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">directing and controlling of the activities of the Company as defined </span></div><div class=\"ps8484 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">by IAS 24. As such, Executive Management is considered Chief </span></div><div class=\"ps8485 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Operating Decision Makers (CODM) as defined by IFRS 8.</span></div><div class=\"ps8479 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps879\">Board of Directors<span id=\"ic39a4ba5386743bb8c25659cb8623c39\"></span></span></div><div class=\"ps8480 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">Andreas Sohmen-Pao and Andreas Beroutsos are employed by the </span></div><div class=\"ps8481 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">BW Group. These board members did not receive remuneration from </span></div><div class=\"ps8482 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">Cadeler in </span><span class=\"f charStyle-c1b8f9f6 ps8487\">2023</span><span class=\"f charStyle-c1b8f9f6 ps8488\">, </span><span class=\"f charStyle-c1b8f9f6 ps8489\">2024</span><span class=\"f charStyle-c1b8f9f6 ps8490\"> and </span><span class=\"f charStyle-c1b8f9f6 ps8491\">2025</span><span class=\"f charStyle-c1b8f9f6 ps8492\">. Andreas Beroutsos stepped down </span></div><div class=\"ps8483 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">from the Board with effect from 25 April 2023. On the same date, </span></div><div class=\"ps8484 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">Andrea Abt joined the Board. </span></div><div class=\"ps8493 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">David Peter Cogman is employed by the Swire Group and did not </span></div><div class=\"ps8486 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">receive remuneration from Cadeler in 2022 and 2023. David Peter </span></div><div class=\"ps8494 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">Cogman stepped down from the Board with effect from 16 June </span></div><div class=\"ps8495 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">2023, together with Connie Hedegaard. </span></div><div class=\"ps8497 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">On 20 February 2024, Emanuele Lauro and James Nish joined the </span></div><div class=\"ps8498 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Board. Emanuele Lauro is the Director and Chief Executive Officer of </span></div><div class=\"ps8500 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Scorpio Holdings Limited, which is considered a related party (see</span><span class=\"f charStyle-c1b8f9f6 ps8499\"> </span></div><div class=\"ps8502 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Note 27</span><span class=\"f charStyle-c1b8f9f6 ps8501\">).</span></div><div class=\"ps2971 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">On 23 April 2024, Jesper T. Lok left the Board of Directors and </span></div><div class=\"ps2972 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Colette Cohen was elected to serve a </span><span class=\"f charStyle-c1b8f9f6 ps8503\">two</span><span class=\"f charStyle-c1b8f9f6 ps8504\"> year</span><span class=\"f charStyle-c1b8f9f6 ps8505\"> term through the 2026 </span></div><div class=\"ps2771 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">AGM. </span></div><div class=\"ps1683 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">On 11 November 2024, Thomas Thune Andersen was elected as a </span></div><div class=\"ps1684 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">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-530": {
   "value": "<div class=\"ps7007 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies<span id=\"i5bd065fe8d5945acb03e5c28945340b2\"></span></span></div><div class=\"ps266 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps183\">Cost of sales and administrative expenses</span></div><div class=\"ps1548 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Cost of sales consists of expenses directly attributable to the Group\u2019s core activities, including seafarers </span></div><div class=\"ps1549 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">payroll, vessel depreciation, and the operation and maintenance of vessels.</span></div><div class=\"ps3849 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Administrative expenses, which include administrative staff costs, share-based compensation, management </span></div><div class=\"ps1781 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">costs, office expenses, business combination transaction costs and other administration-related expenses, </span></div><div class=\"ps1782 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">are expensed as they are incurred.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-531": {
   "value": "<div class=\"ps7727 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Auditor remuneration<span id=\"id9103bba1cc74d4e8758313f65aa3bfe\"></span></span></div><div class=\"ps7260 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Administrative expenses include fees to the auditors appointed by the shareholder at the Annual General </span></div><div class=\"ps7728 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Meeting:</span></div><div class=\"ps7744 ss0\"><div class=\"ss118 ws0 ps67\"><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=\"ps37 ss95\"><div><div class=\"ps7618 ss94\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6203 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-281247bf ps6312\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7687 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-054ead99 ps6312\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6049 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-054ead99 ps6312\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps439 ss95\"><div><div class=\"ps435 ss94\"><span class=\"f charStyle-1bac868e ps630\">Statutory audit<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7729 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">1,748</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7730 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">2,016</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7731 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6328\">474</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps460 ss95\"><div><div class=\"ps435 ss94\"><span class=\"f charStyle-1bac868e ps630\">Other assurance services<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7732 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.52pt\"></span></span><span class=\"ps6373\">34</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7733 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6328\">264</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7734 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">1,608</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5518 ss95\"><div><div class=\"ps435 ss94\"><span class=\"f charStyle-1bac868e ps630\">Tax services<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7735 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.52pt\"></span></span><span class=\"ps6373\">25</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7737 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.37pt\"></span></span><span class=\"ps7736\">9</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7738 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.37pt\"></span></span><span class=\"ps7736\">2</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5527 ss95\"><div><div class=\"ps435 ss94\"><span class=\"f charStyle-1bac868e ps630\">Other services<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6231 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6343\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7739 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.52pt\"></span></span><span class=\"ps6373\">22</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7740 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6328\">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=\"ps5532 ss95\"><div><div class=\"ps435 ss94\"><span class=\"f charStyle-b07b4361 ps39\">Total<span class=\"f ps40\"> </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=\"ps7741 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.11pt\"></span></span><span class=\"ps7558\">1,807</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7742 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.11pt\"></span></span><span class=\"ps7558\">2,311</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7743 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.11pt\"></span></span><span class=\"ps7558\">2,690</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps2393 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Statutory audit services consist of fees for professional services rendered by </span><span class=\"f charStyle-c1b8f9f6 ps7745\">Ernst &amp; Young</span><span class=\"f charStyle-c1b8f9f6 ps7746\"> for the audit of </span></div><div class=\"ps2394 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the annual consolidated financial statements and services that are provided by the auditor in connection </span></div><div class=\"ps2395 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">with the statutory audit. </span></div><div class=\"ps7751 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">For </span><span class=\"f charStyle-c1b8f9f6 ps7747\">2025</span><span class=\"f charStyle-c1b8f9f6 ps7748\"> and </span><span class=\"f charStyle-c1b8f9f6 ps7749\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7750\">, the fee includes services related to the issuance of audit report on the design and </span></div><div class=\"ps7143 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">operating effectiveness of the Company's internal controls over financial reporting (SOX404(b)).</span></div><div class=\"ps7752 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">Other assurance services consist of reviews of interim financial information and, for 2023, include PCAOB </span></div><div class=\"ps7753 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">re-audits for 2021 and 2022, as well as assurance reports in respect of pro forma financial information in </span></div><div class=\"ps3214 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">connection with regulatory filings. </span></div><div class=\"ps7012 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">Tax services consist of tax compliance services. </span></div><div class=\"ps7754 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">Other services consist of services provided for other permitted services, including fees for work performed </span></div><div class=\"ps7755 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">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-534": {
   "value": "<div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 5</span></div><div class=\"ps6919 ss0\" style=\"font-size:16pt\"><span class=\"f charStyle-940783b5 ps183\">N<span id=\"iaeaecf411e4a4827b4480d589e368f04\"></span></span><span class=\"f charStyle-940783b5 ps7757\">et Other Operating Income and Expenses</span></div><div class=\"ps7684 ss0\"><div class=\"ss118 ws0 ps67\"><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=\"ps37 ss616\"><div><div class=\"ps7618 ss614\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7686 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-054ead99 ps6311\">Note<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6203 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-281247bf ps6312\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7687 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-054ead99 ps6312\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6049 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-054ead99 ps6312\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps439 ss618\"><div><div class=\"ps2573 ss614\"><span class=\"f charStyle-1bac868e ps630\">Other operating income<span class=\"f ps40\"> </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=\"ps7729 ss577\"><div><div class=\"ps2573 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">8,770</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7730 ss577\"><div><div class=\"ps2573 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">2,286</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7731 ss577\"><div><div class=\"ps2573 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">3,000</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps3743 ss618\"><div><div class=\"ps2573 ss614\"><span class=\"f charStyle-1bac868e ps630\">Other operating expenses<span class=\"f ps40\"> </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=\"ps6281 ss577\"><div><div class=\"ps2573 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6343\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7759 ss577\"><div><div class=\"ps2573 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.25pt\"></span></span><span class=\"ps7758\">(251)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7760 ss577\"><div><div class=\"ps2573 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:20.45pt\"></span></span><span class=\"ps7547\">(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=\"ps1808 ss618\"><div><div class=\"ps2573 ss614\"><span class=\"f charStyle-b07b4361 ps39\">Net other operating income and expenses<span class=\"f ps40\"> </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=\"ps7761 ss577\"><div><div class=\"ps2573 ss336\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.11pt\"></span></span><span class=\"ps7558\">8,770</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7762 ss577\"><div><div class=\"ps2573 ss336\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.11pt\"></span></span><span class=\"ps7558\">2,035</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7764 ss577\"><div><div class=\"ps2573 ss336\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31.71pt\"></span></span><span class=\"ps7763\">137</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps3501 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Other operating income and expenses for </span><span class=\"f charStyle-c1b8f9f6 ps7765\">2025</span><span class=\"f charStyle-c1b8f9f6 ps7766\"> includes approximately EUR </span><span class=\"f charStyle-c1b8f9f6 ps7767\">5\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7768\"> in accelerated </span></div><div class=\"ps7769 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">payments relating to the early termination of a contract for operations and advisory services. </span></div><div class=\"ps7771 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Other operating income and expenses for </span><span class=\"f charStyle-c1b8f9f6 ps7765\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7770\"> primarily consist of management fees earned from the </span></div><div class=\"ps7772 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">operation of third-party vessels.</span></div><div class=\"ps7773 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Other operating income and expenses for 2023 include the net gain from the sale of the main cranes and </span></div><div class=\"ps7774 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">spare parts of both O-class vessels. The contract signed for the sale of both main cranes states a purchase </span></div><div class=\"ps7778 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">price of </span><span class=\"f charStyle-c1b8f9f6 ps7775\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7776\"> </span><span class=\"f charStyle-c1b8f9f6 ps4523\">1.5\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7777\"> for each main crane. In the case of Wind Orca, the carrying amount of the main </span></div><div class=\"ps7779 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">crane had been written down, reflecting the value that was expected from the disposal of the assets. Thus, </span></div><div class=\"ps7784 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">an impairment loss of </span><span class=\"f charStyle-c1b8f9f6 ps7780\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7781\"> </span><span class=\"f charStyle-c1b8f9f6 ps7782\">5\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7783\"> was reflected in the statement of profit and loss. The Wind Osprey </span></div><div class=\"ps7785 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">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=\"ps7786 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">main cranes was driven by the main crane upgrades to the O-class vessels.</span></div><div class=\"ps7787 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies<span id=\"ia47b4fd9e128497db31db7f4383e5de6\"></span></span></div><div class=\"ps7788 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Other operating income and expenses, include transactions not related to the operations of the Group, </span></div><div class=\"ps7789 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">such as, gains and losses on the sale of non-current assets. Such transactions are generally recognised </span></div><div class=\"ps7790 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">when it is probable that the benefits and losses associated with the transaction will flow to the Company </span></div><div class=\"ps7791 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">and when the significant risks and rewards have been transferred to the buyer (generally when the </span></div><div class=\"ps7792 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">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-533": {
   "value": "<div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 5</span></div><div class=\"ps6919 ss0\" style=\"font-size:16pt\"><span class=\"f charStyle-940783b5 ps183\">N<span id=\"iaeaecf411e4a4827b4480d589e368f04\"></span></span><span class=\"f charStyle-940783b5 ps7757\">et Other Operating Income and Expenses</span></div><div class=\"ps7684 ss0\"><div class=\"ss118 ws0 ps67\"><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=\"ps37 ss616\"><div><div class=\"ps7618 ss614\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7686 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-054ead99 ps6311\">Note<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6203 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-281247bf ps6312\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7687 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-054ead99 ps6312\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6049 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-054ead99 ps6312\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps439 ss618\"><div><div class=\"ps2573 ss614\"><span class=\"f charStyle-1bac868e ps630\">Other operating income<span class=\"f ps40\"> </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=\"ps7729 ss577\"><div><div class=\"ps2573 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">8,770</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7730 ss577\"><div><div class=\"ps2573 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">2,286</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7731 ss577\"><div><div class=\"ps2573 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">3,000</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps3743 ss618\"><div><div class=\"ps2573 ss614\"><span class=\"f charStyle-1bac868e ps630\">Other operating expenses<span class=\"f ps40\"> </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=\"ps6281 ss577\"><div><div class=\"ps2573 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6343\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7759 ss577\"><div><div class=\"ps2573 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.25pt\"></span></span><span class=\"ps7758\">(251)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7760 ss577\"><div><div class=\"ps2573 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:20.45pt\"></span></span><span class=\"ps7547\">(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=\"ps1808 ss618\"><div><div class=\"ps2573 ss614\"><span class=\"f charStyle-b07b4361 ps39\">Net other operating income and expenses<span class=\"f ps40\"> </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=\"ps7761 ss577\"><div><div class=\"ps2573 ss336\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.11pt\"></span></span><span class=\"ps7558\">8,770</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7762 ss577\"><div><div class=\"ps2573 ss336\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.11pt\"></span></span><span class=\"ps7558\">2,035</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7764 ss577\"><div><div class=\"ps2573 ss336\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31.71pt\"></span></span><span class=\"ps7763\">137</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps3501 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Other operating income and expenses for </span><span class=\"f charStyle-c1b8f9f6 ps7765\">2025</span><span class=\"f charStyle-c1b8f9f6 ps7766\"> includes approximately EUR </span><span class=\"f charStyle-c1b8f9f6 ps7767\">5\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7768\"> in accelerated </span></div><div class=\"ps7769 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">payments relating to the early termination of a contract for operations and advisory services. </span></div><div class=\"ps7771 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Other operating income and expenses for </span><span class=\"f charStyle-c1b8f9f6 ps7765\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7770\"> primarily consist of management fees earned from the </span></div><div class=\"ps7772 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">operation of third-party vessels.</span></div><div class=\"ps7773 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Other operating income and expenses for 2023 include the net gain from the sale of the main cranes and </span></div><div class=\"ps7774 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">spare parts of both O-class vessels. The contract signed for the sale of both main cranes states a purchase </span></div><div class=\"ps7778 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">price of </span><span class=\"f charStyle-c1b8f9f6 ps7775\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7776\"> </span><span class=\"f charStyle-c1b8f9f6 ps4523\">1.5\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7777\"> for each main crane. In the case of Wind Orca, the carrying amount of the main </span></div><div class=\"ps7779 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">crane had been written down, reflecting the value that was expected from the disposal of the assets. Thus, </span></div><div class=\"ps7784 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">an impairment loss of </span><span class=\"f charStyle-c1b8f9f6 ps7780\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7781\"> </span><span class=\"f charStyle-c1b8f9f6 ps7782\">5\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7783\"> was reflected in the statement of profit and loss. The Wind Osprey </span></div><div class=\"ps7785 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">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=\"ps7786 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">main cranes was driven by the main crane upgrades to the O-class vessels.</span></div><div class=\"ps7787 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies<span id=\"ia47b4fd9e128497db31db7f4383e5de6\"></span></span></div><div class=\"ps7788 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Other operating income and expenses, include transactions not related to the operations of the Group, </span></div><div class=\"ps7789 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">such as, gains and losses on the sale of non-current assets. Such transactions are generally recognised </span></div><div class=\"ps7790 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">when it is probable that the benefits and losses associated with the transaction will flow to the Company </span></div><div class=\"ps7791 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">and when the significant risks and rewards have been transferred to the buyer (generally when the </span></div><div class=\"ps7792 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">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-532": {
   "value": "<div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 5</span></div><div class=\"ps6919 ss0\" style=\"font-size:16pt\"><span class=\"f charStyle-940783b5 ps183\">N<span id=\"iaeaecf411e4a4827b4480d589e368f04\"></span></span><span class=\"f charStyle-940783b5 ps7757\">et Other Operating Income and Expenses</span></div><div class=\"ps7684 ss0\"><div class=\"ss118 ws0 ps67\"><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=\"ps37 ss616\"><div><div class=\"ps7618 ss614\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7686 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-054ead99 ps6311\">Note<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6203 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-281247bf ps6312\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7687 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-054ead99 ps6312\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6049 ss617\"><div><div class=\"ps435 ss336\"><span class=\"f charStyle-054ead99 ps6312\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps439 ss618\"><div><div class=\"ps2573 ss614\"><span class=\"f charStyle-1bac868e ps630\">Other operating income<span class=\"f ps40\"> </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=\"ps7729 ss577\"><div><div class=\"ps2573 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">8,770</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7730 ss577\"><div><div class=\"ps2573 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">2,286</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7731 ss577\"><div><div class=\"ps2573 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">3,000</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps3743 ss618\"><div><div class=\"ps2573 ss614\"><span class=\"f charStyle-1bac868e ps630\">Other operating expenses<span class=\"f ps40\"> </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=\"ps6281 ss577\"><div><div class=\"ps2573 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6343\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7759 ss577\"><div><div class=\"ps2573 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.25pt\"></span></span><span class=\"ps7758\">(251)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7760 ss577\"><div><div class=\"ps2573 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:20.45pt\"></span></span><span class=\"ps7547\">(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=\"ps1808 ss618\"><div><div class=\"ps2573 ss614\"><span class=\"f charStyle-b07b4361 ps39\">Net other operating income and expenses<span class=\"f ps40\"> </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=\"ps7761 ss577\"><div><div class=\"ps2573 ss336\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.11pt\"></span></span><span class=\"ps7558\">8,770</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7762 ss577\"><div><div class=\"ps2573 ss336\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.11pt\"></span></span><span class=\"ps7558\">2,035</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7764 ss577\"><div><div class=\"ps2573 ss336\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31.71pt\"></span></span><span class=\"ps7763\">137</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps3501 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Other operating income and expenses for </span><span class=\"f charStyle-c1b8f9f6 ps7765\">2025</span><span class=\"f charStyle-c1b8f9f6 ps7766\"> includes approximately EUR </span><span class=\"f charStyle-c1b8f9f6 ps7767\">5\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7768\"> in accelerated </span></div><div class=\"ps7769 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">payments relating to the early termination of a contract for operations and advisory services. </span></div><div class=\"ps7771 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Other operating income and expenses for </span><span class=\"f charStyle-c1b8f9f6 ps7765\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7770\"> primarily consist of management fees earned from the </span></div><div class=\"ps7772 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">operation of third-party vessels.</span></div><div class=\"ps7773 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Other operating income and expenses for 2023 include the net gain from the sale of the main cranes and </span></div><div class=\"ps7774 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">spare parts of both O-class vessels. The contract signed for the sale of both main cranes states a purchase </span></div><div class=\"ps7778 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">price of </span><span class=\"f charStyle-c1b8f9f6 ps7775\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7776\"> </span><span class=\"f charStyle-c1b8f9f6 ps4523\">1.5\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7777\"> for each main crane. In the case of Wind Orca, the carrying amount of the main </span></div><div class=\"ps7779 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">crane had been written down, reflecting the value that was expected from the disposal of the assets. Thus, </span></div><div class=\"ps7784 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">an impairment loss of </span><span class=\"f charStyle-c1b8f9f6 ps7780\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7781\"> </span><span class=\"f charStyle-c1b8f9f6 ps7782\">5\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7783\"> was reflected in the statement of profit and loss. The Wind Osprey </span></div><div class=\"ps7785 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">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=\"ps7786 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">main cranes was driven by the main crane upgrades to the O-class vessels.</span></div><div class=\"ps7787 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies<span id=\"ia47b4fd9e128497db31db7f4383e5de6\"></span></span></div><div class=\"ps7788 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Other operating income and expenses, include transactions not related to the operations of the Group, </span></div><div class=\"ps7789 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">such as, gains and losses on the sale of non-current assets. Such transactions are generally recognised </span></div><div class=\"ps7790 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">when it is probable that the benefits and losses associated with the transaction will flow to the Company </span></div><div class=\"ps7791 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">and when the significant risks and rewards have been transferred to the buyer (generally when the </span></div><div class=\"ps7792 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">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-535": {
   "value": "<div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 6</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Employee Compensation<span id=\"i8d8ad33b79984ae59384330ee8f2651b\"></span></span></div><div class=\"ps7795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Onshore - presented within administrative expenses<span id=\"ie7fc78a689484c6b8e5f52ffcbd5013b\"></span></span></div><div class=\"ps7823 ss0\"><div class=\"ss613 ws0 ps67\"><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=\"ps37 ss619\"><div><div class=\"ps6278 ss578\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7262 ss468\"><div><div class=\"ps5127 ss452\"><span class=\"f charStyle-054ead99 ps7796\">Note<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7797 ss468\"><div><div class=\"ps5127 ss452\"><span class=\"f charStyle-281247bf ps4658\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7798 ss468\"><div><div class=\"ps5127 ss452\"><span class=\"f charStyle-054ead99 ps4658\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6315 ss468\"><div><div class=\"ps5127 ss452\"><span class=\"f charStyle-054ead99 ps4658\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4698 ss620\"><div><div class=\"ps2573 ss578\"><span class=\"f charStyle-1bac868e ps630\">Wages and Salaries<span class=\"f ps40\"> </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=\"ps7800 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.52pt\"></span></span><span class=\"ps7799\">37,322</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5138 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.52pt\"></span></span><span class=\"ps7799\">29,340</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7801 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.52pt\"></span></span><span class=\"ps7799\">16,957</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"padding:0\"><div class=\"ps6218 ss620\"><div><div class=\"ps7216 ss578\"><span class=\"f charStyle-1bac868e ps630\">Employer's contribution to defined <span class=\"f ps40\"> </span></span></div><div class=\"ps7217 ss578\"><span class=\"f charStyle-1bac868e ps630\">contribution plans</span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7803 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.37pt\"></span></span><span class=\"ps7802\">3,765</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7804 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.37pt\"></span></span><span class=\"ps7802\">1,635</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6329 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7805\">847</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"padding:0\"><div class=\"ps7806 ss620\"><div><div class=\"ps2573 ss578\"><span class=\"f charStyle-1bac868e ps630\">Share based payment expense<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7808 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-e5ec5c44 ps7807\">7<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7809 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.37pt\"></span></span><span class=\"ps7802\">2,071</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7810 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.37pt\"></span></span><span class=\"ps7802\">1,662</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7811 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.37pt\"></span></span><span class=\"ps7802\">1,134</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7812 ss620\"><div><div class=\"ps2573 ss578\"><span class=\"f charStyle-1bac868e ps630\">Other short-term benefits<span class=\"f ps40\"> </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=\"ps7813 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.37pt\"></span></span><span class=\"ps7802\">3,124</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7814 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7805\">495</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7815 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7805\">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=\"ps2210 ss620\"><div><div class=\"ps2573 ss578\"><span class=\"f charStyle-b07b4361 ps39\">Total onshore employee compensation<span class=\"f ps40\"> </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=\"ps7817 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:17.44pt\"></span></span><span class=\"ps7816\">46,282</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7818 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:17.44pt\"></span></span><span class=\"ps7816\">33,132</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7819 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:17.44pt\"></span></span><span class=\"ps7816\">19,549</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps6305 ss620\"><div><div class=\"ps2573 ss578\"><span class=\"f charStyle-1bac868e ps630\">Average number of employees<span class=\"f ps40\"> </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=\"ps7820 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7805\">307</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7821 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7805\">242</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7822 ss621\"><div><div class=\"ps2573 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7805\">113</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7828 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In 2023, employee compensation includes </span><span class=\"f charStyle-c1b8f9f6 ps7824\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7825\"> </span><span class=\"f charStyle-c1b8f9f6 ps7826\">660\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7827\"> related to bonus paid, included in transaction </span></div><div class=\"ps7829 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">costs. </span></div><div class=\"ps7795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps2477\">Offshore - presented within cost of sales<span id=\"id2cb925291854c169160ab294622a4c8\"></span></span></div><div class=\"ps7823 ss0\"><div class=\"ss118 ws0 ps2924\"><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=\"ps37 ss427\"><div><div class=\"ps7618 ss426\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7834 ss622\"><div><div class=\"ps4441 ss448\"><span class=\"f charStyle-054ead99 ps7833\">Note<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7835 ss56\"><div><div class=\"ps4441 ss50\"><span class=\"f charStyle-281247bf ps6792\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7836 ss56\"><div><div class=\"ps4441 ss50\"><span class=\"f charStyle-054ead99 ps6792\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7837 ss56\"><div><div class=\"ps4441 ss50\"><span class=\"f charStyle-054ead99 ps6792\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps439 ss427\"><div><div class=\"ps435 ss426\"><span class=\"f charStyle-1bac868e ps630\">Wages and Salaries<span class=\"f ps40\"> </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=\"ps7839 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.02pt\"></span></span><span class=\"ps7838\">46,008</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7840 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.02pt\"></span></span><span class=\"ps7838\">30,043</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7841 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.02pt\"></span></span><span class=\"ps7838\">14,056</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps460 ss427\"><div><div class=\"ps435 ss426\"><span class=\"f charStyle-1bac868e ps630\">Employer's contribution to defined contribution plans<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7843 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7842\">3,557</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7844 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7842\">2,059</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7845 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7842\">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=\"ps5518 ss427\"><div><div class=\"ps435 ss426\"><span class=\"f charStyle-1bac868e ps630\">Other short-term benefits<span class=\"f ps40\"> </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=\"ps7847 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7846\">523</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7848 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7846\">183</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7849 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7846\">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=\"ps5527 ss427\"><div><div class=\"ps435 ss426\"><span class=\"f charStyle-b07b4361 ps39\">Total offshore employee compensation<span class=\"f ps40\"> </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=\"ps7851 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:12.94pt\"></span></span><span class=\"ps7850\">50,088</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7852 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:12.94pt\"></span></span><span class=\"ps7850\">32,285</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7853 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:12.94pt\"></span></span><span class=\"ps7850\">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=\"ps5532 ss427\"><div><div class=\"ps435 ss426\"><span class=\"f charStyle-1bac868e ps630\">Average number of employees<span class=\"f ps40\"> </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=\"ps7854 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7846\">586</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7855 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7846\">364</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7856 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7846\">182</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7857 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps2477\">Total<span id=\"i99e227df99624d4e8e1fce758cf46cb6\"></span></span></div><div class=\"ps7881 ss0\"><div class=\"ss118 ws0 ps2924\"><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=\"ps37 ss623\"><div><div class=\"ps747 ss426\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7834 ss464\"><div><div class=\"ps41 ss448\"><span class=\"f charStyle-054ead99 ps7833\">Note<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7835 ss624\"><div><div class=\"ps41 ss50\"><span class=\"f charStyle-281247bf ps6792\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7836 ss624\"><div><div class=\"ps41 ss50\"><span class=\"f charStyle-054ead99 ps6792\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7837 ss624\"><div><div class=\"ps41 ss50\"><span class=\"f charStyle-054ead99 ps6792\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps43 ss427\"><div><div class=\"ps435 ss426\"><span class=\"f charStyle-1bac868e ps630\">Wages and Salaries<span class=\"f ps40\"> </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=\"ps7858 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.02pt\"></span></span><span class=\"ps7838\">83,330</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7859 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.02pt\"></span></span><span class=\"ps7838\">59,383</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7860 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.02pt\"></span></span><span class=\"ps7838\">31,013</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps631 ss427\"><div><div class=\"ps435 ss426\"><span class=\"f charStyle-1bac868e ps630\">Employer's contribution to defined contribution plans<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7861 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7842\">7,322</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7862 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7842\">3,694</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7863 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7842\">1,971</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5277 ss427\"><div><div class=\"ps435 ss426\"><span class=\"f charStyle-1bac868e ps630\">Share based payment expense<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps7865 ss622\"><div><div class=\"ps435 ss448\"><span class=\"f charStyle-e5ec5c44 ps7864\">7<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7866 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7842\">2,071</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7867 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7842\">1,662</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7868 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7842\">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=\"ps2081 ss427\"><div><div class=\"ps435 ss426\"><span class=\"f charStyle-1bac868e ps630\">Other short-term benefits<span class=\"f ps40\"> </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=\"ps7869 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7842\">3,647</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7870 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7846\">678</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7871 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7842\">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=\"ps767 ss427\"><div><div class=\"ps435 ss426\"><span class=\"f charStyle-b07b4361 ps39\">Total employee compensation<span class=\"f ps40\"> </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=\"ps7872 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:12.94pt\"></span></span><span class=\"ps7850\">96,370</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7873 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:12.94pt\"></span></span><span class=\"ps7850\">65,417</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7874 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:12.94pt\"></span></span><span class=\"ps7850\">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=\"ps5162 ss427\"><div><div class=\"ps435 ss426\"><span class=\"f charStyle-1bac868e ps630\">Average number of full time employees<span class=\"f ps40\"> </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=\"ps7875 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7846\">893</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7876 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7846\">606</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7877 ss56\"><div><div class=\"ps435 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7846\">295</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps7710 ss625\"><div><div class=\"ps2702 ss426\"><span class=\"f charStyle-cb69ec08 ps630\">Number of employees at the end of the reporting period<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps7878 ss626\"><div><div class=\"ps2702 ss50\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.87pt\"></span></span><span class=\"ps7842\">1,073</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7879 ss626\"><div><div class=\"ps2702 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7846\">659</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7880 ss626\"><div><div class=\"ps2702 ss50\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.67pt\"></span></span><span class=\"ps7846\">570</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Eneti employees, both onshore and offshore, joined the Group by the end of December 2023. Thus, the </span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">average number of full-time employees as of 2023 reflects the number of employees in Eneti divided by 12 </span></div><div class=\"ps7161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">months. Eneti had </span><span class=\"f charStyle-c1b8f9f6 ps7884\">99</span><span class=\"f charStyle-c1b8f9f6 ps7885\"> onshore full time employees and </span><span class=\"f charStyle-c1b8f9f6 ps7886\">176</span><span class=\"f charStyle-c1b8f9f6 ps7887\"> seafarers by the end of 2023.</span></div><div class=\"ps419 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Labour costs related to certain employees who are working on the management of the newbuilding </span></div><div class=\"ps420 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">process have been capitalised. These capita</span><span class=\"f charStyle-c1b8f9f6 ps7888\">lised costs amounted to</span><span class=\"f charStyle-c1b8f9f6 ps7889\"> </span><span class=\"f charStyle-c1b8f9f6 ps7890\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7891\"> </span><span class=\"f charStyle-c1b8f9f6 ps7892\">7.8</span><span class=\"f charStyle-c1b8f9f6 ps7893\"> m</span><span class=\"f charStyle-c1b8f9f6 ps7894\">illion</span><span class=\"f charStyle-c1b8f9f6 ps7895\"> in </span><span class=\"f charStyle-c1b8f9f6 ps7896\">2025</span><span class=\"f charStyle-c1b8f9f6 ps7897\">, </span><span class=\"f charStyle-c1b8f9f6 ps7898\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7899\"> </span><span class=\"f charStyle-c1b8f9f6 ps7900\">2.7\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7901\"> </span></div><div class=\"ps421 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">in </span><span class=\"f charStyle-c1b8f9f6 ps5058\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7902\"> and </span><span class=\"f charStyle-c1b8f9f6 ps7903\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7904\"> </span><span class=\"f charStyle-c1b8f9f6 ps7905\">1.1\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps7906\"> in</span><span class=\"f charStyle-c1b8f9f6 ps7907\"> </span><span class=\"f charStyle-c1b8f9f6 ps7908\">2023</span><span class=\"f charStyle-c1b8f9f6 ps7909\"> 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-536": {
   "value": "<div class=\"ps7830 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Accounting policies</span></div><div class=\"ps7831 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Employee benefits are recognised as an expense, unless the cost qualifies for capitalisation as an asset.</span></div><div class=\"ps5285 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Employee compensation includes wages and salaries, including compensated absence and pensions, as </span></div><div class=\"ps5286 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">well as other social security contributions made to the entity\u2019s employees or public and government </span></div><div class=\"ps5287 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">authoriti</span><span class=\"f charStyle-c1b8f9f6 ps7832\">es. </span></div><div class=\"ps7007 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps916\">Accounting policies<span id=\"i3d9fd592568545fba7f9aaba92e4e114\"></span></span></div><div class=\"ps7569 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps916\">Share-based payments<span id=\"i77a129f43c404185bc9fa311eefc3b72\"></span></span></div><div class=\"ps8168 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Employees (including senior executives) of the Group receive </span></div><div class=\"ps3406 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">remuneration in the form of share-based payments, whereby </span></div><div class=\"ps269 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">employees render services as consideration for equity instruments </span></div><div class=\"ps8169 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">(equity-settled transactions).</span></div><div class=\"ps8170 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps916\">Equity-settled transactions<span id=\"ide32f3e76d934c0fb38aac612e53c8e7\"></span></span></div><div class=\"ps8171 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">The cost of equity-settled transactions is determined by the fair value </span></div><div class=\"ps8172 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">at the date on which the grant is made using an appropriate </span></div><div class=\"ps8173 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">valuation model. That cost is recognised as employee benefits </span></div><div class=\"ps4224 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">expenses, together with a corresponding increase in equity (retained </span></div><div class=\"ps4225 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">earnings), over the period in which the service and, where applicable, </span></div><div class=\"ps4226 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">the performance conditions are fulfilled (the vesting period). The </span></div><div class=\"ps4227 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">cumulative expense recognised for equity-settled transactions at each </span></div><div class=\"ps4228 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">reporting date until the vesting date reflects both the extent to which </span></div><div class=\"ps3255 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">the vesting period has expired and the Group\u2019s best estimate of the </span></div><div class=\"ps8174 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">number of equity instruments that will ultimately vest. The expense or </span></div><div class=\"ps8175 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">credit in the statement of profit or loss for a period represents the </span></div><div class=\"ps8176 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">movement in cumulative expense recognised at the beginning and </span></div><div class=\"ps1941 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">end of that period.</span></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Service and non-market performance conditions are not considered </span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">when determining the grant date fair value of awards. Instead, the </span></div><div class=\"ps7161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">likelihood of these conditions being met is assessed as part of the </span></div><div class=\"ps7164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Group\u2019s best estimate of the number of equity instruments that will </span></div><div class=\"ps7578 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">ultimately vest. Market performance conditions are reflected directly </span></div><div class=\"ps7579 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">in the grant date fair value.</span></div><div class=\"ps7118 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Any other conditions attached to an award, that do not include an </span></div><div class=\"ps7119 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">associated service requirement, are considered to be non-vesting </span></div><div class=\"ps7165 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">conditions. Non-vesting conditions are reflected in the fair value of </span></div><div class=\"ps7166 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">an award and result in an immediate expensing, unless there are also </span></div><div class=\"ps7167 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">service and/or performance conditions.</span></div><div class=\"ps5471 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">No expense is recognised for awards that do not ultimately vest as a </span></div><div class=\"ps7039 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">result non-market performance and/or service conditions not being </span></div><div class=\"ps7040 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">met. </span></div><div class=\"ps5474 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Where awards include a market or non-vesting condition, the </span></div><div class=\"ps5475 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">transactions are treated as vested regardless of whether the market </span></div><div class=\"ps5476 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">or non-vesting condition is satisfied, provided that all other </span></div><div class=\"ps5477 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">performance and/or service conditions are satisfied.</span></div><div class=\"ps7042 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The dilutive effect of outstanding options is reflected as additional </span></div><div class=\"ps5479 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">share dilution in the computation of diluted earnings per share in a </span></div><div class=\"ps5480 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">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-538": {
   "value": "<div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 7</span></div><div class=\"ps6919 ss0\" style=\"font-size:16pt\"><span class=\"f charStyle-940783b5 ps183\">Long Term Incentive <span id=\"i8f047e73114343e0ae923e24234b73ba\"></span></span><span class=\"f charStyle-940783b5 ps7939\">Programmes</span></div><div class=\"ps7183 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The following share-based long-term incentive programmes were in place as of </span><span class=\"f charStyle-c1b8f9f6 ps7940\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps7941\">:</span></div><div class=\"ps7946 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">(i) In January 2022, the Executive Management and select employees were granted from </span><span class=\"f charStyle-c1b8f9f6 ps7942\">10,393</span><span class=\"f charStyle-c1b8f9f6 ps7943\"> to </span><span class=\"f charStyle-c1b8f9f6 ps7944\">55,430</span><span class=\"f charStyle-c1b8f9f6 ps7945\"> </span></div><div class=\"ps7947 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Restricted Share Units (RSU) which fully vested and were issued in July 2024. The total fair value of the RSU </span></div><div class=\"ps7948 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">allocation is calculated based on the Company's closing share price on Nasdaq Copenhagen A/S on the day </span></div><div class=\"ps7956 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">of grant, and the value is </span><span class=\"f charStyle-c1b8f9f6 ps7949\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7950\"> </span><span class=\"f charStyle-c1b8f9f6 ps7951\">394\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7952\"> </span><span class=\"f charStyle-c1b8f9f6 ps7953\">(</span><span class=\"f charStyle-c1b8f9f6 ps7954\">EUR3.3</span><span class=\"f charStyle-c1b8f9f6 ps7955\"> per RSU). As the RSUs fully vested in 2024, there was </span></div><div class=\"ps7966 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">no</span><span class=\"f charStyle-c1b8f9f6 ps7957\"> expense recognised in profit and loss in the current year (</span><span class=\"f charStyle-c1b8f9f6 ps7958\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7959\"> </span><span class=\"f charStyle-c1b8f9f6 ps7960\">53\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7961\"> in </span><span class=\"f charStyle-c1b8f9f6 ps7962\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7963\">; EUR </span><span class=\"f charStyle-c1b8f9f6 ps7964\">143\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7965\"> in </span></div><div class=\"ps7968 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">2023</span><span class=\"f charStyle-c1b8f9f6 ps7967\">).</span></div><div class=\"ps7973 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">(ii) In January 2022, the Executive Management and select employees were granted from </span><span class=\"f charStyle-c1b8f9f6 ps7969\">10,393</span><span class=\"f charStyle-c1b8f9f6 ps7970\"> to </span><span class=\"f charStyle-c1b8f9f6 ps7971\">55,430</span><span class=\"f charStyle-c1b8f9f6 ps7972\"> </span></div><div class=\"ps7974 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Options in Cadeler shares, which fully vested in May 2024 and expire in April 2027. The strike price ranged </span></div><div class=\"ps7981 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">from </span><span class=\"f charStyle-c1b8f9f6 ps7975\">NOK36.02</span><span class=\"f charStyle-c1b8f9f6 ps7976\"> to </span><span class=\"f charStyle-c1b8f9f6 ps7977\">NOK38.42</span><span class=\"f charStyle-c1b8f9f6 ps7978\">, depending on the exercise period. The fair value of these options was </span><span class=\"f charStyle-c1b8f9f6 ps7979\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7980\"> </span></div><div class=\"ps7987 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">160\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7982\"> (</span><span class=\"f charStyle-c1b8f9f6 ps7983\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7984\"> </span><span class=\"f charStyle-c1b8f9f6 ps7985\">1.3</span><span class=\"f charStyle-c1b8f9f6 ps7986\"> per RSU) as determined at grant date using the Black-Scholes model. As these </span></div><div class=\"ps7992 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">options fully vested in 2024, there was </span><span class=\"f charStyle-c1b8f9f6 ps7988\">no</span><span class=\"f charStyle-c1b8f9f6 ps7989\"> expense recognised in profit and loss in the current year (</span><span class=\"f charStyle-c1b8f9f6 ps7990\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7991\"> </span></div><div class=\"ps8002 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">13\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7993\"> in </span><span class=\"f charStyle-c1b8f9f6 ps7994\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7995\">; </span><span class=\"f charStyle-c1b8f9f6 ps7996\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7997\"> </span><span class=\"f charStyle-c1b8f9f6 ps7998\">62\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7999\"> in </span><span class=\"f charStyle-c1b8f9f6 ps8000\">2023</span><span class=\"f charStyle-c1b8f9f6 ps8001\">). </span></div><div class=\"ps4167 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">(iii) </span><span class=\"f charStyle-c1b8f9f6 ps8003\">In May 2022, the Executive Management and select employees were granted from </span><span class=\"f charStyle-c1b8f9f6 ps8004\">43,420</span><span class=\"f charStyle-c1b8f9f6 ps8005\"> to </span><span class=\"f charStyle-c1b8f9f6 ps1246\">221,719</span><span class=\"f charStyle-c1b8f9f6 ps8006\"> </span></div><div class=\"ps4168 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Options in Cadeler shares, which fully vested in May 2025 and expire in May 2028. The strike price is </span></div><div class=\"ps4169 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">NOK40.24</span><span class=\"f charStyle-c1b8f9f6 ps8007\"> and as of 31 December 2025, </span><span class=\"f charStyle-c1b8f9f6 ps8008\">no</span><span class=\"f charStyle-c1b8f9f6 ps8009\"> options have been exercised. The fair value of these options was </span></div><div class=\"ps4170 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">761\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8010\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8011\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8012\"> </span><span class=\"f charStyle-c1b8f9f6 ps8013\">1.3</span><span class=\"f charStyle-c1b8f9f6 ps8014\"> per RSU) as determined at grant date using the Black-Scholes model. The </span></div><div class=\"ps3415 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">expense recognised in profit and loss for the year amounts to EUR</span><span class=\"f charStyle-c1b8f9f6 ps8015\"> </span><span class=\"f charStyle-c1b8f9f6 ps8016\">173\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8017\"> (EUR </span><span class=\"f charStyle-c1b8f9f6 ps8018\">237\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8019\"> in </span></div><div class=\"ps3416 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">2024; </span><span class=\"f charStyle-c1b8f9f6 ps8020\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8021\"> </span><span class=\"f charStyle-c1b8f9f6 ps8022\">237\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8023\"> </span><span class=\"f charStyle-c1b8f9f6 ps8024\">in </span><span class=\"f charStyle-c1b8f9f6 ps8025\">2023</span><span class=\"f charStyle-c1b8f9f6 ps8026\">).</span><span class=\"f charStyle-c1b8f9f6 ps8027\"> </span><span class=\"f charStyle-c1b8f9f6 ps8028\">The average remaining contractual life for the options as per </span></div><div class=\"ps3417 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps8029\"> is </span><span class=\"f charStyle-c1b8f9f6 ps8030\">2.3 years</span><span class=\"f charStyle-c1b8f9f6 ps8031\">. The annualised volatility of the shares of </span><span class=\"f charStyle-c1b8f9f6 ps8032\">42.5%</span><span class=\"f charStyle-c1b8f9f6 ps8033\"> is based on the historical </span></div><div class=\"ps3418 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">volatility of the share price, annual risk-free interest rate of </span><span class=\"f charStyle-c1b8f9f6 ps8034\">2.8%</span><span class=\"f charStyle-c1b8f9f6 ps8035\">, dividend yield of </span><span class=\"f charStyle-c1b8f9f6 ps8036\">zero</span><span class=\"f charStyle-c1b8f9f6 ps8037\">, expected life until </span></div><div class=\"ps3419 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">expiration date and average share price of </span><span class=\"f charStyle-c1b8f9f6 ps8038\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8039\"> </span><span class=\"f charStyle-c1b8f9f6 ps8040\">3.7</span><span class=\"f charStyle-c1b8f9f6 ps8041\">.</span></div><div class=\"ps8046 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">(iv) In January 2023, the Executive Management and select employees were granted from </span><span class=\"f charStyle-c1b8f9f6 ps8042\">19,760</span><span class=\"f charStyle-c1b8f9f6 ps8043\"> to </span><span class=\"f charStyle-c1b8f9f6 ps8044\">130,416</span><span class=\"f charStyle-c1b8f9f6 ps8045\"> </span></div><div class=\"ps3421 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">RSUs, which fully vested and were issued in July 2025.</span><span class=\"f charStyle-c1b8f9f6 ps8047\"> The fair value of the RSUs\u2019 are </span><span class=\"f charStyle-c1b8f9f6 ps8048\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8049\"> </span><span class=\"f charStyle-c1b8f9f6 ps8050\">1.2\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8051\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8052\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8053\"> </span><span class=\"f charStyle-c1b8f9f6 ps8054\">3.0</span><span class=\"f charStyle-c1b8f9f6 ps8055\"> </span></div><div class=\"ps8056 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">per RSU) as determined at grant date using the Black-Scholes model. The expense recognised in profit and </span></div><div class=\"ps8070 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">loss for the year amounts to EUR</span><span class=\"f charStyle-c1b8f9f6 ps8057\"> </span><span class=\"f charStyle-c1b8f9f6 ps8058\">234\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8059\"> </span><span class=\"f charStyle-c1b8f9f6 ps8060\">(</span><span class=\"f charStyle-c1b8f9f6 ps8061\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8062\"> </span><span class=\"f charStyle-c1b8f9f6 ps8063\">468\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8064\"> in </span><span class=\"f charStyle-c1b8f9f6 ps8065\">2024</span><span class=\"f charStyle-c1b8f9f6 ps8066\">, </span><span class=\"f charStyle-c1b8f9f6 ps8067\">EUR </span><span class=\"f charStyle-c1b8f9f6 ps8068\">498\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8069\"> in 2023).</span></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">(v) In August 2023, the Executive Management and select employees </span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">were granted from </span><span class=\"f charStyle-c1b8f9f6 ps8075\">88,920</span><span class=\"f charStyle-c1b8f9f6 ps8076\"> to </span><span class=\"f charStyle-c1b8f9f6 ps8077\">385,320</span><span class=\"f charStyle-c1b8f9f6 ps8078\"> options in Cadeler shares which </span></div><div class=\"ps7161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">will vest in August 2026 and expire in August 2029. The strike price </span></div><div class=\"ps7164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">will be </span><span class=\"f charStyle-c1b8f9f6 ps8079\">NOK45.49</span><span class=\"f charStyle-c1b8f9f6 ps8080\"> and vesting is conditional upon continued </span></div><div class=\"ps7578 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">employment at Cadeler. The fair value of these options is </span></div><div class=\"ps7579 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">EUR2.2\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8081\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8082\">EUR1.8</span><span class=\"f charStyle-c1b8f9f6 ps8083\"> per option) as determined at grant date using </span></div><div class=\"ps6936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the Black-Scholes model. The expense recognised in profit and loss </span></div><div class=\"ps6937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">for the year amounts to EUR </span><span class=\"f charStyle-c1b8f9f6 ps8084\">500\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8085\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8086\">EUR419\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8087\"> in </span></div><div class=\"ps6940 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">2024</span><span class=\"f charStyle-c1b8f9f6 ps1129\">; </span><span class=\"f charStyle-c1b8f9f6 ps8020\">EUR250\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8088\"> in 2023). The average remaining contractual </span></div><div class=\"ps2794 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">life of the options as of </span><span class=\"f charStyle-c1b8f9f6 ps8089\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps8090\"> is </span><span class=\"f charStyle-c1b8f9f6 ps8091\">3.5 years</span><span class=\"f charStyle-c1b8f9f6 ps8092\">. The </span></div><div class=\"ps2795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">annualised volatility of the shares of </span><span class=\"f charStyle-c1b8f9f6 ps8093\">61.0%</span><span class=\"f charStyle-c1b8f9f6 ps8094\"> is based on the historical </span></div><div class=\"ps2796 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">volatility of the share price, an annual risk-free interest rate of </span><span class=\"f charStyle-c1b8f9f6 ps8095\">2.68%</span><span class=\"f charStyle-c1b8f9f6 ps8096\">, </span></div><div class=\"ps2797 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">a dividend yield of </span><span class=\"f charStyle-c1b8f9f6 ps8097\">zero</span><span class=\"f charStyle-c1b8f9f6 ps8098\">, the expected life until expiration date and </span></div><div class=\"ps2798 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">average share price of </span><span class=\"f charStyle-c1b8f9f6 ps8099\">EUR3.7</span><span class=\"f charStyle-c1b8f9f6 ps8100\">.</span></div><div class=\"ps7177 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">(vi) In May 2024, the Executive Management was granted a total of </span></div><div class=\"ps2800 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">193.011</span><span class=\"f charStyle-c1b8f9f6 ps8101\"> RSUs, which will vest at the end of May 2027. The RSUs\u2019 expire </span></div><div class=\"ps2801 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">at the end of May 2030 and are conditional upon conti</span><span class=\"f charStyle-c1b8f9f6 ps8102\">nued </span></div><div class=\"ps2802 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">employment at Cadeler. The fair value of the RSU\u2019s is </span><span class=\"f charStyle-c1b8f9f6 ps8103\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8104\"> </span><span class=\"f charStyle-c1b8f9f6 ps8105\">1.1\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8106\"> </span></div><div class=\"ps2803 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">(</span><span class=\"f charStyle-c1b8f9f6 ps829\">EUR5.6</span><span class=\"f charStyle-c1b8f9f6 ps8107\"> per RSU) as determined at grant date using the Black-</span></div><div class=\"ps2804 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Scholes model. The expense recognised in profit and loss for the year </span></div><div class=\"ps2805 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">amounts to </span><span class=\"f charStyle-c1b8f9f6 ps7415\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7416\"> </span><span class=\"f charStyle-c1b8f9f6 ps7417\">350\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8108\"> (EUR </span><span class=\"f charStyle-c1b8f9f6 ps8109\">206\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8110\"> in 2024)</span><span class=\"f charStyle-c1b8f9f6 ps8111\">. The </span></div><div class=\"ps2806 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">average remaining contractual life as of </span><span class=\"f charStyle-c1b8f9f6 ps8112\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps8113\"> is </span><span class=\"f charStyle-c1b8f9f6 ps8114\">4.4 </span></div><div class=\"ps2807 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">years</span><span class=\"f charStyle-c1b8f9f6 ps8115\">. The average share price used is </span><span class=\"f charStyle-c1b8f9f6 ps8116\">NOK64.2</span><span class=\"f charStyle-c1b8f9f6 ps8117\">. </span></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">(vii) In May 2024, the Executive Management and select employees </span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">were granted from </span><span class=\"f charStyle-c1b8f9f6 ps8119\">140,372</span><span class=\"f charStyle-c1b8f9f6 ps8120\"> to </span><span class=\"f charStyle-c1b8f9f6 ps8121\">245,651</span><span class=\"f charStyle-c1b8f9f6 ps8122\"> options in Cadeler shares, </span></div><div class=\"ps7161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">which will vest at the end of May 2027 and expire at the end of May </span></div><div class=\"ps7164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">2030. The strike price will be </span><span class=\"f charStyle-c1b8f9f6 ps8123\">NOK74.32</span><span class=\"f charStyle-c1b8f9f6 ps8124\"> and vesting is conditional </span></div><div class=\"ps7578 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">up</span><span class=\"f charStyle-c1b8f9f6 ps8125\">on continued employment at Cadeler. The fair value of these </span></div><div class=\"ps7579 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">options is </span><span class=\"f charStyle-c1b8f9f6 ps8126\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8127\"> </span><span class=\"f charStyle-c1b8f9f6 ps8128\">1.4\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8129\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8130\">EUR1.4</span><span class=\"f charStyle-c1b8f9f6 ps8131\"> per option) as determined at grant </span></div><div class=\"ps6936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">date using the Black-Scholes model. The expense recognised in profit </span></div><div class=\"ps6937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">and loss for the year amounts to EUR</span><span class=\"f charStyle-c1b8f9f6 ps8132\"> </span><span class=\"f charStyle-c1b8f9f6 ps8133\">450\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8134\"> (EUR </span></div><div class=\"ps6940 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">265\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8135\"> in 2024)</span><span class=\"f charStyle-c1b8f9f6 ps8136\">. The average remaining contractual life of the </span></div><div class=\"ps2794 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">options as of </span><span class=\"f charStyle-c1b8f9f6 ps8137\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps8138\"> is </span><span class=\"f charStyle-c1b8f9f6 ps8139\">4.4 years</span><span class=\"f charStyle-c1b8f9f6 ps8140\">. The annualised volatility </span></div><div class=\"ps2795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">of the shares of </span><span class=\"f charStyle-c1b8f9f6 ps8141\">31.2%</span><span class=\"f charStyle-c1b8f9f6 ps8142\"> is based on the historical volatility of the share </span></div><div class=\"ps2796 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">price, annual risk-free interest rate of </span><span class=\"f charStyle-c1b8f9f6 ps8143\">3.63%</span><span class=\"f charStyle-c1b8f9f6 ps8144\">, dividend yield of </span><span class=\"f charStyle-c1b8f9f6 ps8145\">zero</span><span class=\"f charStyle-c1b8f9f6 ps8146\">, </span></div><div class=\"ps2797 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">expected life until expiration date, and average share price of </span></div><div class=\"ps2798 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">NOK64.2</span><span class=\"f charStyle-c1b8f9f6 ps8147\">.</span></div><div class=\"ps7177 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">(viii) In March 2025, the Executive Management and select employees </span></div><div class=\"ps2800 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">were granted from </span><span class=\"f charStyle-c1b8f9f6 ps8119\">42,115</span><span class=\"f charStyle-c1b8f9f6 ps8148\"> to </span><span class=\"f charStyle-c1b8f9f6 ps8149\">631,724</span><span class=\"f charStyle-c1b8f9f6 ps8150\"> options in Cadeler shares, which </span></div><div class=\"ps2801 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">will vest in March 2028 and expire in March 2031. The strike price will </span></div><div class=\"ps2802 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">be </span><span class=\"f charStyle-c1b8f9f6 ps8151\">NOK60.2</span><span class=\"f charStyle-c1b8f9f6 ps8152\"> and vesting is conditional upon continued employment </span></div><div class=\"ps2803 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">at Cadeler. The fair value of these options is </span><span class=\"f charStyle-c1b8f9f6 ps8153\">2\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8154\"> (EUR </span><span class=\"f charStyle-c1b8f9f6 ps8155\">1.4</span><span class=\"f charStyle-c1b8f9f6 ps8156\"> per </span></div><div class=\"ps2804 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">option) as determined at grant date using the Black-Scholes model. </span></div><div class=\"ps2805 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">The expense recognized in profit and loss for the year amounts to </span></div><div class=\"ps2806 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps882\"> </span><span class=\"f charStyle-c1b8f9f6 ps883\">479\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8157\">. The average remaining contractual life of the </span></div><div class=\"ps2807 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">options as of </span><span class=\"f charStyle-c1b8f9f6 ps8137\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps8138\"> is </span><span class=\"f charStyle-c1b8f9f6 ps8139\">5.3 years</span><span class=\"f charStyle-c1b8f9f6 ps8158\">. The annualised volatility </span></div><div class=\"ps2808 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">of the shares is </span><span class=\"f charStyle-c1b8f9f6 ps8159\">31.66%</span><span class=\"f charStyle-c1b8f9f6 ps8160\"> based on historical volatility of the share price </span></div><div class=\"ps2809 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">price, annual risk-free interest rate of </span><span class=\"f charStyle-c1b8f9f6 ps8143\">3.93%</span><span class=\"f charStyle-c1b8f9f6 ps8144\">, a dividend yield of </span><span class=\"f charStyle-c1b8f9f6 ps8161\">zero</span><span class=\"f charStyle-c1b8f9f6 ps8162\">, </span></div><div class=\"ps2810 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">an expected life of </span><span class=\"f charStyle-c1b8f9f6 ps8163\">4 years</span><span class=\"f charStyle-c1b8f9f6 ps8164\"> from grant date and average share price </span></div><div class=\"ps8167 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">of </span><span class=\"f charStyle-c1b8f9f6 ps8165\">NOK52</span><span class=\"f charStyle-c1b8f9f6 ps8166\">. </span></div><div class=\"ps7007 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps916\">Accounting policies<span id=\"i3d9fd592568545fba7f9aaba92e4e114\"></span></span></div><div class=\"ps7569 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps916\">Share-based payments<span id=\"i77a129f43c404185bc9fa311eefc3b72\"></span></span></div><div class=\"ps8168 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Employees (including senior executives) of the Group receive </span></div><div class=\"ps3406 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">remuneration in the form of share-based payments, whereby </span></div><div class=\"ps269 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">employees render services as consideration for equity instruments </span></div><div class=\"ps8169 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">(equity-settled transactions).</span></div><div class=\"ps8170 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps916\">Equity-settled transactions<span id=\"ide32f3e76d934c0fb38aac612e53c8e7\"></span></span></div><div class=\"ps8171 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">The cost of equity-settled transactions is determined by the fair value </span></div><div class=\"ps8172 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">at the date on which the grant is made using an appropriate </span></div><div class=\"ps8173 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">valuation model. That cost is recognised as employee benefits </span></div><div class=\"ps4224 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">expenses, together with a corresponding increase in equity (retained </span></div><div class=\"ps4225 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">earnings), over the period in which the service and, where applicable, </span></div><div class=\"ps4226 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">the performance conditions are fulfilled (the vesting period). The </span></div><div class=\"ps4227 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">cumulative expense recognised for equity-settled transactions at each </span></div><div class=\"ps4228 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">reporting date until the vesting date reflects both the extent to which </span></div><div class=\"ps3255 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">the vesting period has expired and the Group\u2019s best estimate of the </span></div><div class=\"ps8174 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">number of equity instruments that will ultimately vest. The expense or </span></div><div class=\"ps8175 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">credit in the statement of profit or loss for a period represents the </span></div><div class=\"ps8176 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">movement in cumulative expense recognised at the beginning and </span></div><div class=\"ps1941 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">end of that period.</span></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Service and non-market performance conditions are not considered </span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">when determining the grant date fair value of awards. Instead, the </span></div><div class=\"ps7161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">likelihood of these conditions being met is assessed as part of the </span></div><div class=\"ps7164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Group\u2019s best estimate of the number of equity instruments that will </span></div><div class=\"ps7578 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">ultimately vest. Market performance conditions are reflected directly </span></div><div class=\"ps7579 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">in the grant date fair value.</span></div><div class=\"ps7118 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Any other conditions attached to an award, that do not include an </span></div><div class=\"ps7119 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">associated service requirement, are considered to be non-vesting </span></div><div class=\"ps7165 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">conditions. Non-vesting conditions are reflected in the fair value of </span></div><div class=\"ps7166 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">an award and result in an immediate expensing, unless there are also </span></div><div class=\"ps7167 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">service and/or performance conditions.</span></div><div class=\"ps5471 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">No expense is recognised for awards that do not ultimately vest as a </span></div><div class=\"ps7039 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">result non-market performance and/or service conditions not being </span></div><div class=\"ps7040 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">met. </span></div><div class=\"ps5474 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Where awards include a market or non-vesting condition, the </span></div><div class=\"ps5475 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">transactions are treated as vested regardless of whether the market </span></div><div class=\"ps5476 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">or non-vesting condition is satisfied, provided that all other </span></div><div class=\"ps5477 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">performance and/or service conditions are satisfied.</span></div><div class=\"ps7042 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The dilutive effect of outstanding options is reflected as additional </span></div><div class=\"ps5479 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">share dilution in the computation of diluted earnings per share in a </span></div><div class=\"ps5480 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">loss situation only where the loss per share is reduced.</span></div><div class=\"ps7512 ss0\"><div class=\"ss375 ws0 ps67\"><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=\"ps8180 ss629\"><div><div class=\"ps41 ss628\"><span class=\"f charStyle-281247bf ps8179\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps437 ss629\"><div><div class=\"ps41 ss628\"><span class=\"f charStyle-054ead99 ps8179\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8181 ss629\"><div><div class=\"ps41 ss628\"><span class=\"f charStyle-054ead99 ps8179\">2023<span class=\"f ps40\"> </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=\"ps8183 ss631\"><div><div class=\"ps41 ss630\"><span class=\"f charStyle-281247bf ps8182\">Executive management<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#206079;padding:0\"><div class=\"ps8185 ss631\"><div><div class=\"ps41 ss630\"><span class=\"f charStyle-281247bf ps8184\">Other employees<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"padding:0\"><div class=\"ps8186 ss631\"><div><div class=\"ps41 ss630\"><span class=\"f charStyle-054ead99 ps8182\">Executive management<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8187 ss631\"><div><div class=\"ps41 ss630\"><span class=\"f charStyle-054ead99 ps8184\">Other employees<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8188 ss631\"><div><div class=\"ps41 ss630\"><span class=\"f charStyle-054ead99 ps8182\">Executive management<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"padding:0\"><div class=\"ps8189 ss631\"><div><div class=\"ps41 ss630\"><span class=\"f charStyle-054ead99 ps8184\">Other employees<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps45 ss632\"><div><div class=\"ps5628 ss627\"><span class=\"f charStyle-b07b4361 ps39\">Outstanding instruments - <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss627\"><span class=\"f charStyle-b07b4361 ps39\">Options</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8192 ss633\"><div><div class=\"ps8191 ss338\"><span class=\"f charStyle-4979afbe ps8190\">Number<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8195 ss635\"><div><div class=\"ps8191 ss634\"><span class=\"f charStyle-4979afbe ps8193\">WAEP</span><span class=\"f charStyle-88564ae7 ps8194\"><sup>1</sup></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8196 ss633\"><div><div class=\"ps8191 ss338\"><span class=\"f charStyle-4979afbe ps8190\">Number<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8197 ss635\"><div><div class=\"ps8191 ss634\"><span class=\"f charStyle-4979afbe ps8193\">WAEP</span><span class=\"f charStyle-88564ae7 ps8194\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8198 ss633\"><div><div class=\"ps8191 ss338\"><span class=\"f charStyle-64a4cf84 ps8190\">Number<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8199 ss635\"><div><div class=\"ps8191 ss634\"><span class=\"f charStyle-5e156cc0 ps8193\">WAEP</span><span class=\"f charStyle-6df02eca ps8194\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8200 ss633\"><div><div class=\"ps8191 ss338\"><span class=\"f charStyle-64a4cf84 ps8190\">Number<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-right:1pt solid #ecedef;padding:0\"><div class=\"ps752 ss635\"><div><div class=\"ps8191 ss634\"><span class=\"f charStyle-5e156cc0 ps8193\">WAEP</span><span class=\"f charStyle-6df02eca ps8194\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8202 ss633\"><div><div class=\"ps8191 ss338\"><span class=\"f charStyle-64a4cf84 ps8201\">Number<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8203 ss635\"><div><div class=\"ps8191 ss634\"><span class=\"f charStyle-5e156cc0 ps8193\">WAEP</span><span class=\"f charStyle-6df02eca ps8194\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8204 ss633\"><div><div class=\"ps8191 ss338\"><span class=\"f charStyle-64a4cf84 ps8201\">Number<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8205 ss635\"><div><div class=\"ps8191 ss634\"><span class=\"f charStyle-5e156cc0 ps8193\">WAEP</span><span class=\"f charStyle-6df02eca ps8194\"><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=\"ps5277 ss636\"><div><div class=\"ps41 ss627\"><span class=\"f charStyle-1bac868e ps630\">Outstanding at 1 January<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8207 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.37pt\"></span></span><span class=\"ps8206\">1,353,052</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8209 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.47pt\"></span></span><span class=\"ps8208\">4.39</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8210 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.37pt\"></span></span><span class=\"ps8206\">1,487,689</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8211 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.47pt\"></span></span><span class=\"ps8208\">4.76</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8213 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8212\">967,029</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8215 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8214\">3.47</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8216 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8212\">894,123</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8217 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8214\">3.46</span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8218 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8212\">344,589</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8219 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8214\">3.16</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8220 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8212\">330,963</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8221 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8214\">3.15</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps647 ss636\"><div><div class=\"ps41 ss627\"><span class=\"f charStyle-1bac868e ps630\">Granted during the year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8223 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8222\">912,490</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8224 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.47pt\"></span></span><span class=\"ps8208\">5.09</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8225 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8222\">491,341</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8226 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.47pt\"></span></span><span class=\"ps8208\">5.09</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8227 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8212\">386,023</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8228 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8214\">6.24</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8229 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8212\">631,674</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps650 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8214\">6.24</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8230 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8212\">622,440</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8231 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8214\">3.64</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8232 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8212\">563,160</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8233 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8214\">3.64</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps6288 ss636\"><div><div class=\"ps41 ss627\"><span class=\"f charStyle-1bac868e ps630\">Forfeited during the year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8235 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8237 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8239 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.6pt\"></span></span><span class=\"ps8238\">(62,908)</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8240 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.47pt\"></span></span><span class=\"ps8208\">3.80</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8242 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8241\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8244 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8243\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8245 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8241\">\u2014</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8246 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8243\">\u2014</span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8247 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8241\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8248 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8243\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8249 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8241\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8250 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8243\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps8251 ss636\"><div><div class=\"ps41 ss627\"><span class=\"f charStyle-1bac868e ps630\">Exercised during the year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8252 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8253 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8254 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8255 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8256 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8241\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8257 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8214\">3.03</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8258 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.25pt\"></span></span><span class=\"ps7758\">(38,108)</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8259 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8243\">\u2014</span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8260 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8241\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8261 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8243\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8262 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8241\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8263 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8243\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8264 ss636\"><div><div class=\"ps41 ss627\"><span class=\"f charStyle-1bac868e ps630\">Expired during the year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8265 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8266 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8267 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8268 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8269 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8241\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8270 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8243\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8271 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8241\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8272 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8243\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8273 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8241\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8274 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8243\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8275 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8241\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8276 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8243\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4812 ss636\"><div><div class=\"ps41 ss627\"><span class=\"f charStyle-b07b4361 ps39\">Outstanding at 31 December <span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8278 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.17pt\"></span></span><span class=\"ps8277\">2,265,542</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8280 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.03pt\"></span></span><span class=\"ps8279\">4.69</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8281 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.17pt\"></span></span><span class=\"ps8277\">1,916,122</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8282 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.03pt\"></span></span><span class=\"ps8279\">4.90</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8284 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:17.82pt\"></span></span><span class=\"ps8283\">1,353,052</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8285 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44 ps4006\">4.39<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8286 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:17.82pt\"></span></span><span class=\"ps8283\">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=\"ps8287 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44 ps4006\">4.76<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8289 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.42pt\"></span></span><span class=\"ps8288\">967,029</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8290 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44 ps4006\">3.47<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8291 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.42pt\"></span></span><span class=\"ps8288\">894,123</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8292 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44 ps4006\">3.46<span class=\"f ps40\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps8395 ss0\"><div class=\"ss642 ws0 ps67\"><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=\"ps8296 ss629\"><div><div class=\"ps41 ss628\"><span class=\"f charStyle-281247bf ps8179\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8297 ss629\"><div><div class=\"ps41 ss628\"><span class=\"f charStyle-054ead99 ps8179\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8298 ss629\"><div><div class=\"ps41 ss628\"><span class=\"f charStyle-054ead99 ps8179\">2023<span class=\"f ps40\"> </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=\"ps8299 ss631\"><div><div class=\"ps41 ss630\"><span class=\"f charStyle-281247bf ps8182\">Executive management<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#206079;padding:0\"><div class=\"ps8300 ss631\"><div><div class=\"ps41 ss630\"><span class=\"f charStyle-281247bf ps8184\">Other employees<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"padding:0\"><div class=\"ps8301 ss631\"><div><div class=\"ps41 ss630\"><span class=\"f charStyle-054ead99 ps8182\">Executive management<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8302 ss631\"><div><div class=\"ps41 ss630\"><span class=\"f charStyle-054ead99 ps8184\">Other employees<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8303 ss631\"><div><div class=\"ps41 ss630\"><span class=\"f charStyle-054ead99 ps8182\">Executive management<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"padding:0\"><div class=\"ps8304 ss631\"><div><div class=\"ps41 ss630\"><span class=\"f charStyle-054ead99 ps8184\">Other employees<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps45 ss640\"><div><div class=\"ps5628 ss639\"><span class=\"f charStyle-b07b4361 ps39\">Outstanding instruments - <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss639\"><span class=\"f charStyle-b07b4361 ps39\">RSU</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8306 ss633\"><div><div class=\"ps8191 ss338\"><span class=\"f charStyle-4979afbe ps8305\">Number<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8307 ss635\"><div><div class=\"ps8191 ss634\"><span class=\"f charStyle-4979afbe ps8193\">WAEP</span><span class=\"f charStyle-88564ae7 ps8194\"><sup>1</sup></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8308 ss633\"><div><div class=\"ps8191 ss338\"><span class=\"f charStyle-4979afbe ps8305\">Number<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8309 ss635\"><div><div class=\"ps8191 ss634\"><span class=\"f charStyle-4979afbe ps8193\">WAEP</span><span class=\"f charStyle-88564ae7 ps8194\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8310 ss633\"><div><div class=\"ps8191 ss338\"><span class=\"f charStyle-64a4cf84 ps8305\">Number<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8311 ss635\"><div><div class=\"ps8191 ss634\"><span class=\"f charStyle-5e156cc0 ps8193\">WAEP</span><span class=\"f charStyle-6df02eca ps8194\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8312 ss633\"><div><div class=\"ps8191 ss338\"><span class=\"f charStyle-64a4cf84 ps8305\">Number<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8313 ss635\"><div><div class=\"ps8191 ss634\"><span class=\"f charStyle-5e156cc0 ps8193\">WAEP</span><span class=\"f charStyle-6df02eca ps8194\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8315 ss633\"><div><div class=\"ps8191 ss338\"><span class=\"f charStyle-64a4cf84 ps8314\">Number<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8316 ss635\"><div><div class=\"ps8191 ss634\"><span class=\"f charStyle-5e156cc0 ps8193\">WAEP</span><span class=\"f charStyle-6df02eca ps8194\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8317 ss633\"><div><div class=\"ps8191 ss338\"><span class=\"f charStyle-64a4cf84 ps8314\">Number<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8318 ss635\"><div><div class=\"ps8191 ss634\"><span class=\"f charStyle-5e156cc0 ps8193\">WAEP</span><span class=\"f charStyle-6df02eca ps8194\"><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=\"ps5277 ss641\"><div><div class=\"ps41 ss639\"><span class=\"f charStyle-1bac868e ps630\">Outstanding at 1 January<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8319 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8222\">382,707</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8320 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8321 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8222\">205,504</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8322 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8323 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8222\">245,126</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8324 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8325 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8222\">271,327</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8326 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8328 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.02pt\"></span></span><span class=\"ps8327\">55,430</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8329 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8330 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.02pt\"></span></span><span class=\"ps8327\">65,823</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8331 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps647 ss641\"><div><div class=\"ps41 ss639\"><span class=\"f charStyle-1bac868e ps630\">Granted during the year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8332 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8333 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8334 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8335 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8336 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8222\">193,011</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8337 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8338 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8339 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8340 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8222\">189,696</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8341 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8342 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8222\">205,504</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8343 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps6288 ss641\"><div><div class=\"ps41 ss639\"><span class=\"f charStyle-1bac868e ps630\">Forfeited during the year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8344 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8345 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8347 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.45pt\"></span></span><span class=\"ps8346\">(6,847)</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8348 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8349 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8350 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8351 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8352 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8353 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8354 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8355 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8356 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps8251 ss641\"><div><div class=\"ps41 ss639\"><span class=\"f charStyle-1bac868e ps630\">Exercised during the year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8358 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.75pt\"></span></span><span class=\"ps8357\">(189,696)</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8359 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8360 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.75pt\"></span></span><span class=\"ps8357\">(198,657)</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8361 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8362 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.6pt\"></span></span><span class=\"ps8238\">(55,430)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8363 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8364 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.6pt\"></span></span><span class=\"ps8238\">(65,823)</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8365 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8366 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8367 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8368 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8369 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8264 ss641\"><div><div class=\"ps41 ss639\"><span class=\"f charStyle-1bac868e ps630\">Expired during the year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8370 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8371 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8372 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8373 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8374 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8375 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8376 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8377 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8378 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8379 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8380 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8381 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4812 ss641\"><div><div class=\"ps41 ss639\"><span class=\"f charStyle-b07b4361 ps39\">Outstanding at 31 December<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8382 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.77pt\"></span></span><span class=\"ps6901\">193,011</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8383 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8384 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8385 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8386 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.42pt\"></span></span><span class=\"ps8288\">382,707</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8388 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44 ps8387\">0<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8389 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.42pt\"></span></span><span class=\"ps8288\">205,504</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8390 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44 ps8387\">0<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8391 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.42pt\"></span></span><span class=\"ps8288\">245,126</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8392 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44 ps8387\">0<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8393 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.42pt\"></span></span><span class=\"ps8288\">271,327</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8394 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44 ps8387\">0<span class=\"f ps40\"> </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 ps183\">Note 8</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Board of Directors and Executive Management Compensation<span id=\"i430bdd9f93894189b006496fc30f907b\"></span></span></div><div class=\"ps7684 ss0\"><div class=\"ss650 ws0 ps67\"><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=\"ps8400 ss645\"><div><div class=\"ps41 ss644\"><span class=\"f charStyle-281247bf ps8399\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"padding:0\"><div class=\"ps7531 ss645\"><div><div class=\"ps41 ss644\"><span class=\"f charStyle-054ead99 ps8399\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"padding:0\"><div class=\"ps8401 ss645\"><div><div class=\"ps41 ss644\"><span class=\"f charStyle-054ead99 ps8399\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:30.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps43 ss646\"><div><div class=\"ps8402 ss643\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8407 ss647\"><div><div class=\"ps8404 ss297\"><span class=\"f charStyle-281247bf ps8403\">Board of <span class=\"f ps40\"> </span></span></div><div class=\"ps8406 ss297\"><span class=\"f charStyle-281247bf ps8405\">directors</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8410 ss647\"><div><div class=\"ps8404 ss297\"><span class=\"f charStyle-281247bf ps8408\">Executive <span class=\"f ps40\"> </span></span></div><div class=\"ps8406 ss297\"><span class=\"f charStyle-281247bf ps8409\">management</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8411 ss647\"><div><div class=\"ps8406 ss297\"><span class=\"f charStyle-281247bf ps7690\">Total<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8412 ss647\"><div><div class=\"ps8404 ss297\"><span class=\"f charStyle-054ead99 ps8403\">Board of <span class=\"f ps40\"> </span></span></div><div class=\"ps8406 ss297\"><span class=\"f charStyle-054ead99 ps8405\">directors</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8413 ss647\"><div><div class=\"ps8404 ss297\"><span class=\"f charStyle-054ead99 ps8408\">Executive <span class=\"f ps40\"> </span></span></div><div class=\"ps8406 ss297\"><span class=\"f charStyle-054ead99 ps8409\">management</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8414 ss647\"><div><div class=\"ps8406 ss297\"><span class=\"f charStyle-054ead99 ps7690\">Total<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8415 ss647\"><div><div class=\"ps8404 ss297\"><span class=\"f charStyle-054ead99 ps8403\">Board of <span class=\"f ps40\"> </span></span></div><div class=\"ps8406 ss297\"><span class=\"f charStyle-054ead99 ps8405\">directors</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8416 ss647\"><div><div class=\"ps8404 ss297\"><span class=\"f charStyle-054ead99 ps8408\">Executive <span class=\"f ps40\"> </span></span></div><div class=\"ps8406 ss297\"><span class=\"f charStyle-054ead99 ps8409\">management</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8417 ss647\"><div><div class=\"ps8406 ss297\"><span class=\"f charStyle-054ead99 ps7690\">Total<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2069 ss648\"><div><div class=\"ps41 ss643\"><span class=\"f charStyle-1bac868e ps630\">Wages, salaries and board fees<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8419 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8418\">419</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8420 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8418\">998</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8422 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">1,417</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8423 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8418\">334</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8424 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8418\">955</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8425 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">1,289</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8426 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8418\">183</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8427 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8418\">821</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8428 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">1,004</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps2167 ss648\"><div><div class=\"ps41 ss643\"><span class=\"f charStyle-1bac868e ps630\">Pension costs - defined contribution plans<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8430 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8429\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8431 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8418\">100</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8432 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8418\">100</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8433 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8429\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8435 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8434\">95</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8436 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8434\">95</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8437 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8429\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8438 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8434\">29</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8439 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8434\">29</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps2197 ss648\"><div><div class=\"ps41 ss643\"><span class=\"f charStyle-1bac868e ps630\">Share based payment<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8440 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8429\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8441 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">1,249</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8442 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">1,249</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8443 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8429\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8444 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8418\">957</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8445 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8418\">957</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8446 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8429\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8447 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8418\">588</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8448 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8418\">588</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps5667 ss648\"><div><div class=\"ps41 ss643\"><span class=\"f charStyle-1bac868e ps630\">Other short-term benefits<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8449 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8429\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8450 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8434\">35</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8451 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8434\">35</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8452 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8429\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8453 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8434\">41</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8454 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8434\">41</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8455 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8429\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8456 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8434\">55</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8457 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8434\">55</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5673 ss648\"><div><div class=\"ps41 ss643\"><span class=\"f charStyle-1bac868e ps630\">Cash bonus<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8458 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8429\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8459 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">2,473</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8460 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">2,473</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8461 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8429\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8462 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">1,197</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8463 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">1,197</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8464 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8429\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8465 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">1,155</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8466 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">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=\"ps1819 ss648\"><div><div class=\"ps41 ss643\"><span class=\"f charStyle-b07b4361 ps39\">Total management compensation<span class=\"f ps40\"> </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=\"ps8468 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.11pt\"></span></span><span class=\"ps8467\">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=\"ps8470 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.51pt\"></span></span><span class=\"ps8469\">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=\"ps8471 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.51pt\"></span></span><span class=\"ps8469\">5,274</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8472 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.11pt\"></span></span><span class=\"ps8467\">334</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8473 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.51pt\"></span></span><span class=\"ps8469\">3,245</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8474 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.51pt\"></span></span><span class=\"ps8469\">3,579</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8475 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.11pt\"></span></span><span class=\"ps8467\">183</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8476 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.51pt\"></span></span><span class=\"ps8469\">2,648</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8477 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.51pt\"></span></span><span class=\"ps8469\">2,831</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps8479 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Executive Management<span id=\"i4aea9fb2a6e3447b861a2c4d2ae241f8\"></span></span></div><div class=\"ps8480 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Executive Management refers to the members of the Executive </span></div><div class=\"ps8481 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Management who are registered with the Danish business authority </span></div><div class=\"ps8482 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">and who have the authority and responsibility for the planning, </span></div><div class=\"ps8483 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">directing and controlling of the activities of the Company as defined </span></div><div class=\"ps8484 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">by IAS 24. As such, Executive Management is considered Chief </span></div><div class=\"ps8485 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Operating Decision Makers (CODM) as defined by IFRS 8.</span></div><div class=\"ps8479 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps879\">Board of Directors<span id=\"ic39a4ba5386743bb8c25659cb8623c39\"></span></span></div><div class=\"ps8480 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">Andreas Sohmen-Pao and Andreas Beroutsos are employed by the </span></div><div class=\"ps8481 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">BW Group. These board members did not receive remuneration from </span></div><div class=\"ps8482 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">Cadeler in </span><span class=\"f charStyle-c1b8f9f6 ps8487\">2023</span><span class=\"f charStyle-c1b8f9f6 ps8488\">, </span><span class=\"f charStyle-c1b8f9f6 ps8489\">2024</span><span class=\"f charStyle-c1b8f9f6 ps8490\"> and </span><span class=\"f charStyle-c1b8f9f6 ps8491\">2025</span><span class=\"f charStyle-c1b8f9f6 ps8492\">. Andreas Beroutsos stepped down </span></div><div class=\"ps8483 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">from the Board with effect from 25 April 2023. On the same date, </span></div><div class=\"ps8484 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">Andrea Abt joined the Board. </span></div><div class=\"ps8493 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">David Peter Cogman is employed by the Swire Group and did not </span></div><div class=\"ps8486 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">receive remuneration from Cadeler in 2022 and 2023. David Peter </span></div><div class=\"ps8494 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">Cogman stepped down from the Board with effect from 16 June </span></div><div class=\"ps8495 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">2023, together with Connie Hedegaard. </span></div><div class=\"ps8497 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">On 20 February 2024, Emanuele Lauro and James Nish joined the </span></div><div class=\"ps8498 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Board. Emanuele Lauro is the Director and Chief Executive Officer of </span></div><div class=\"ps8500 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Scorpio Holdings Limited, which is considered a related party (see</span><span class=\"f charStyle-c1b8f9f6 ps8499\"> </span></div><div class=\"ps8502 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Note 27</span><span class=\"f charStyle-c1b8f9f6 ps8501\">).</span></div><div class=\"ps2971 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">On 23 April 2024, Jesper T. Lok left the Board of Directors and </span></div><div class=\"ps2972 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Colette Cohen was elected to serve a </span><span class=\"f charStyle-c1b8f9f6 ps8503\">two</span><span class=\"f charStyle-c1b8f9f6 ps8504\"> year</span><span class=\"f charStyle-c1b8f9f6 ps8505\"> term through the 2026 </span></div><div class=\"ps2771 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">AGM. </span></div><div class=\"ps1683 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">On 11 November 2024, Thomas Thune Andersen was elected as a </span></div><div class=\"ps1684 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">new member of the Board of Directors.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory",
    "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 ps183\">Note 7</span></div><div class=\"ps6919 ss0\" style=\"font-size:16pt\"><span class=\"f charStyle-940783b5 ps183\">Long Term Incentive <span id=\"i8f047e73114343e0ae923e24234b73ba\"></span></span><span class=\"f charStyle-940783b5 ps7939\">Programmes</span></div><div class=\"ps7183 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The following share-based long-term incentive programmes were in place as of </span><span class=\"f charStyle-c1b8f9f6 ps7940\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps7941\">:</span></div><div class=\"ps7946 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">(i) In January 2022, the Executive Management and select employees were granted from </span><span class=\"f charStyle-c1b8f9f6 ps7942\">10,393</span><span class=\"f charStyle-c1b8f9f6 ps7943\"> to </span><span class=\"f charStyle-c1b8f9f6 ps7944\">55,430</span><span class=\"f charStyle-c1b8f9f6 ps7945\"> </span></div><div class=\"ps7947 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Restricted Share Units (RSU) which fully vested and were issued in July 2024. The total fair value of the RSU </span></div><div class=\"ps7948 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">allocation is calculated based on the Company's closing share price on Nasdaq Copenhagen A/S on the day </span></div><div class=\"ps7956 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">of grant, and the value is </span><span class=\"f charStyle-c1b8f9f6 ps7949\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7950\"> </span><span class=\"f charStyle-c1b8f9f6 ps7951\">394\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7952\"> </span><span class=\"f charStyle-c1b8f9f6 ps7953\">(</span><span class=\"f charStyle-c1b8f9f6 ps7954\">EUR3.3</span><span class=\"f charStyle-c1b8f9f6 ps7955\"> per RSU). As the RSUs fully vested in 2024, there was </span></div><div class=\"ps7966 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">no</span><span class=\"f charStyle-c1b8f9f6 ps7957\"> expense recognised in profit and loss in the current year (</span><span class=\"f charStyle-c1b8f9f6 ps7958\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7959\"> </span><span class=\"f charStyle-c1b8f9f6 ps7960\">53\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7961\"> in </span><span class=\"f charStyle-c1b8f9f6 ps7962\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7963\">; EUR </span><span class=\"f charStyle-c1b8f9f6 ps7964\">143\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7965\"> in </span></div><div class=\"ps7968 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">2023</span><span class=\"f charStyle-c1b8f9f6 ps7967\">).</span></div><div class=\"ps7973 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">(ii) In January 2022, the Executive Management and select employees were granted from </span><span class=\"f charStyle-c1b8f9f6 ps7969\">10,393</span><span class=\"f charStyle-c1b8f9f6 ps7970\"> to </span><span class=\"f charStyle-c1b8f9f6 ps7971\">55,430</span><span class=\"f charStyle-c1b8f9f6 ps7972\"> </span></div><div class=\"ps7974 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Options in Cadeler shares, which fully vested in May 2024 and expire in April 2027. The strike price ranged </span></div><div class=\"ps7981 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">from </span><span class=\"f charStyle-c1b8f9f6 ps7975\">NOK36.02</span><span class=\"f charStyle-c1b8f9f6 ps7976\"> to </span><span class=\"f charStyle-c1b8f9f6 ps7977\">NOK38.42</span><span class=\"f charStyle-c1b8f9f6 ps7978\">, depending on the exercise period. The fair value of these options was </span><span class=\"f charStyle-c1b8f9f6 ps7979\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7980\"> </span></div><div class=\"ps7987 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">160\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7982\"> (</span><span class=\"f charStyle-c1b8f9f6 ps7983\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7984\"> </span><span class=\"f charStyle-c1b8f9f6 ps7985\">1.3</span><span class=\"f charStyle-c1b8f9f6 ps7986\"> per RSU) as determined at grant date using the Black-Scholes model. As these </span></div><div class=\"ps7992 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">options fully vested in 2024, there was </span><span class=\"f charStyle-c1b8f9f6 ps7988\">no</span><span class=\"f charStyle-c1b8f9f6 ps7989\"> expense recognised in profit and loss in the current year (</span><span class=\"f charStyle-c1b8f9f6 ps7990\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7991\"> </span></div><div class=\"ps8002 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">13\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7993\"> in </span><span class=\"f charStyle-c1b8f9f6 ps7994\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7995\">; </span><span class=\"f charStyle-c1b8f9f6 ps7996\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7997\"> </span><span class=\"f charStyle-c1b8f9f6 ps7998\">62\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps7999\"> in </span><span class=\"f charStyle-c1b8f9f6 ps8000\">2023</span><span class=\"f charStyle-c1b8f9f6 ps8001\">). </span></div><div class=\"ps4167 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">(iii) </span><span class=\"f charStyle-c1b8f9f6 ps8003\">In May 2022, the Executive Management and select employees were granted from </span><span class=\"f charStyle-c1b8f9f6 ps8004\">43,420</span><span class=\"f charStyle-c1b8f9f6 ps8005\"> to </span><span class=\"f charStyle-c1b8f9f6 ps1246\">221,719</span><span class=\"f charStyle-c1b8f9f6 ps8006\"> </span></div><div class=\"ps4168 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Options in Cadeler shares, which fully vested in May 2025 and expire in May 2028. The strike price is </span></div><div class=\"ps4169 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">NOK40.24</span><span class=\"f charStyle-c1b8f9f6 ps8007\"> and as of 31 December 2025, </span><span class=\"f charStyle-c1b8f9f6 ps8008\">no</span><span class=\"f charStyle-c1b8f9f6 ps8009\"> options have been exercised. The fair value of these options was </span></div><div class=\"ps4170 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">761\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8010\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8011\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8012\"> </span><span class=\"f charStyle-c1b8f9f6 ps8013\">1.3</span><span class=\"f charStyle-c1b8f9f6 ps8014\"> per RSU) as determined at grant date using the Black-Scholes model. The </span></div><div class=\"ps3415 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">expense recognised in profit and loss for the year amounts to EUR</span><span class=\"f charStyle-c1b8f9f6 ps8015\"> </span><span class=\"f charStyle-c1b8f9f6 ps8016\">173\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8017\"> (EUR </span><span class=\"f charStyle-c1b8f9f6 ps8018\">237\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8019\"> in </span></div><div class=\"ps3416 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">2024; </span><span class=\"f charStyle-c1b8f9f6 ps8020\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8021\"> </span><span class=\"f charStyle-c1b8f9f6 ps8022\">237\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8023\"> </span><span class=\"f charStyle-c1b8f9f6 ps8024\">in </span><span class=\"f charStyle-c1b8f9f6 ps8025\">2023</span><span class=\"f charStyle-c1b8f9f6 ps8026\">).</span><span class=\"f charStyle-c1b8f9f6 ps8027\"> </span><span class=\"f charStyle-c1b8f9f6 ps8028\">The average remaining contractual life for the options as per </span></div><div class=\"ps3417 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps8029\"> is </span><span class=\"f charStyle-c1b8f9f6 ps8030\">2.3 years</span><span class=\"f charStyle-c1b8f9f6 ps8031\">. The annualised volatility of the shares of </span><span class=\"f charStyle-c1b8f9f6 ps8032\">42.5%</span><span class=\"f charStyle-c1b8f9f6 ps8033\"> is based on the historical </span></div><div class=\"ps3418 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">volatility of the share price, annual risk-free interest rate of </span><span class=\"f charStyle-c1b8f9f6 ps8034\">2.8%</span><span class=\"f charStyle-c1b8f9f6 ps8035\">, dividend yield of </span><span class=\"f charStyle-c1b8f9f6 ps8036\">zero</span><span class=\"f charStyle-c1b8f9f6 ps8037\">, expected life until </span></div><div class=\"ps3419 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">expiration date and average share price of </span><span class=\"f charStyle-c1b8f9f6 ps8038\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8039\"> </span><span class=\"f charStyle-c1b8f9f6 ps8040\">3.7</span><span class=\"f charStyle-c1b8f9f6 ps8041\">.</span></div><div class=\"ps8046 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">(iv) In January 2023, the Executive Management and select employees were granted from </span><span class=\"f charStyle-c1b8f9f6 ps8042\">19,760</span><span class=\"f charStyle-c1b8f9f6 ps8043\"> to </span><span class=\"f charStyle-c1b8f9f6 ps8044\">130,416</span><span class=\"f charStyle-c1b8f9f6 ps8045\"> </span></div><div class=\"ps3421 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">RSUs, which fully vested and were issued in July 2025.</span><span class=\"f charStyle-c1b8f9f6 ps8047\"> The fair value of the RSUs\u2019 are </span><span class=\"f charStyle-c1b8f9f6 ps8048\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8049\"> </span><span class=\"f charStyle-c1b8f9f6 ps8050\">1.2\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8051\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8052\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8053\"> </span><span class=\"f charStyle-c1b8f9f6 ps8054\">3.0</span><span class=\"f charStyle-c1b8f9f6 ps8055\"> </span></div><div class=\"ps8056 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">per RSU) as determined at grant date using the Black-Scholes model. The expense recognised in profit and </span></div><div class=\"ps8070 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">loss for the year amounts to EUR</span><span class=\"f charStyle-c1b8f9f6 ps8057\"> </span><span class=\"f charStyle-c1b8f9f6 ps8058\">234\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8059\"> </span><span class=\"f charStyle-c1b8f9f6 ps8060\">(</span><span class=\"f charStyle-c1b8f9f6 ps8061\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8062\"> </span><span class=\"f charStyle-c1b8f9f6 ps8063\">468\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8064\"> in </span><span class=\"f charStyle-c1b8f9f6 ps8065\">2024</span><span class=\"f charStyle-c1b8f9f6 ps8066\">, </span><span class=\"f charStyle-c1b8f9f6 ps8067\">EUR </span><span class=\"f charStyle-c1b8f9f6 ps8068\">498\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8069\"> in 2023).</span></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">(v) In August 2023, the Executive Management and select employees </span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">were granted from </span><span class=\"f charStyle-c1b8f9f6 ps8075\">88,920</span><span class=\"f charStyle-c1b8f9f6 ps8076\"> to </span><span class=\"f charStyle-c1b8f9f6 ps8077\">385,320</span><span class=\"f charStyle-c1b8f9f6 ps8078\"> options in Cadeler shares which </span></div><div class=\"ps7161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">will vest in August 2026 and expire in August 2029. The strike price </span></div><div class=\"ps7164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">will be </span><span class=\"f charStyle-c1b8f9f6 ps8079\">NOK45.49</span><span class=\"f charStyle-c1b8f9f6 ps8080\"> and vesting is conditional upon continued </span></div><div class=\"ps7578 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">employment at Cadeler. The fair value of these options is </span></div><div class=\"ps7579 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">EUR2.2\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8081\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8082\">EUR1.8</span><span class=\"f charStyle-c1b8f9f6 ps8083\"> per option) as determined at grant date using </span></div><div class=\"ps6936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the Black-Scholes model. The expense recognised in profit and loss </span></div><div class=\"ps6937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">for the year amounts to EUR </span><span class=\"f charStyle-c1b8f9f6 ps8084\">500\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8085\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8086\">EUR419\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8087\"> in </span></div><div class=\"ps6940 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">2024</span><span class=\"f charStyle-c1b8f9f6 ps1129\">; </span><span class=\"f charStyle-c1b8f9f6 ps8020\">EUR250\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8088\"> in 2023). The average remaining contractual </span></div><div class=\"ps2794 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">life of the options as of </span><span class=\"f charStyle-c1b8f9f6 ps8089\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps8090\"> is </span><span class=\"f charStyle-c1b8f9f6 ps8091\">3.5 years</span><span class=\"f charStyle-c1b8f9f6 ps8092\">. The </span></div><div class=\"ps2795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">annualised volatility of the shares of </span><span class=\"f charStyle-c1b8f9f6 ps8093\">61.0%</span><span class=\"f charStyle-c1b8f9f6 ps8094\"> is based on the historical </span></div><div class=\"ps2796 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">volatility of the share price, an annual risk-free interest rate of </span><span class=\"f charStyle-c1b8f9f6 ps8095\">2.68%</span><span class=\"f charStyle-c1b8f9f6 ps8096\">, </span></div><div class=\"ps2797 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">a dividend yield of </span><span class=\"f charStyle-c1b8f9f6 ps8097\">zero</span><span class=\"f charStyle-c1b8f9f6 ps8098\">, the expected life until expiration date and </span></div><div class=\"ps2798 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">average share price of </span><span class=\"f charStyle-c1b8f9f6 ps8099\">EUR3.7</span><span class=\"f charStyle-c1b8f9f6 ps8100\">.</span></div><div class=\"ps7177 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">(vi) In May 2024, the Executive Management was granted a total of </span></div><div class=\"ps2800 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">193.011</span><span class=\"f charStyle-c1b8f9f6 ps8101\"> RSUs, which will vest at the end of May 2027. The RSUs\u2019 expire </span></div><div class=\"ps2801 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">at the end of May 2030 and are conditional upon conti</span><span class=\"f charStyle-c1b8f9f6 ps8102\">nued </span></div><div class=\"ps2802 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">employment at Cadeler. The fair value of the RSU\u2019s is </span><span class=\"f charStyle-c1b8f9f6 ps8103\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8104\"> </span><span class=\"f charStyle-c1b8f9f6 ps8105\">1.1\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8106\"> </span></div><div class=\"ps2803 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">(</span><span class=\"f charStyle-c1b8f9f6 ps829\">EUR5.6</span><span class=\"f charStyle-c1b8f9f6 ps8107\"> per RSU) as determined at grant date using the Black-</span></div><div class=\"ps2804 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Scholes model. The expense recognised in profit and loss for the year </span></div><div class=\"ps2805 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">amounts to </span><span class=\"f charStyle-c1b8f9f6 ps7415\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps7416\"> </span><span class=\"f charStyle-c1b8f9f6 ps7417\">350\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8108\"> (EUR </span><span class=\"f charStyle-c1b8f9f6 ps8109\">206\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8110\"> in 2024)</span><span class=\"f charStyle-c1b8f9f6 ps8111\">. The </span></div><div class=\"ps2806 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">average remaining contractual life as of </span><span class=\"f charStyle-c1b8f9f6 ps8112\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps8113\"> is </span><span class=\"f charStyle-c1b8f9f6 ps8114\">4.4 </span></div><div class=\"ps2807 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">years</span><span class=\"f charStyle-c1b8f9f6 ps8115\">. The average share price used is </span><span class=\"f charStyle-c1b8f9f6 ps8116\">NOK64.2</span><span class=\"f charStyle-c1b8f9f6 ps8117\">. </span></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">(vii) In May 2024, the Executive Management and select employees </span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">were granted from </span><span class=\"f charStyle-c1b8f9f6 ps8119\">140,372</span><span class=\"f charStyle-c1b8f9f6 ps8120\"> to </span><span class=\"f charStyle-c1b8f9f6 ps8121\">245,651</span><span class=\"f charStyle-c1b8f9f6 ps8122\"> options in Cadeler shares, </span></div><div class=\"ps7161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">which will vest at the end of May 2027 and expire at the end of May </span></div><div class=\"ps7164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">2030. The strike price will be </span><span class=\"f charStyle-c1b8f9f6 ps8123\">NOK74.32</span><span class=\"f charStyle-c1b8f9f6 ps8124\"> and vesting is conditional </span></div><div class=\"ps7578 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">up</span><span class=\"f charStyle-c1b8f9f6 ps8125\">on continued employment at Cadeler. The fair value of these </span></div><div class=\"ps7579 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">options is </span><span class=\"f charStyle-c1b8f9f6 ps8126\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8127\"> </span><span class=\"f charStyle-c1b8f9f6 ps8128\">1.4\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8129\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8130\">EUR1.4</span><span class=\"f charStyle-c1b8f9f6 ps8131\"> per option) as determined at grant </span></div><div class=\"ps6936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">date using the Black-Scholes model. The expense recognised in profit </span></div><div class=\"ps6937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">and loss for the year amounts to EUR</span><span class=\"f charStyle-c1b8f9f6 ps8132\"> </span><span class=\"f charStyle-c1b8f9f6 ps8133\">450\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8134\"> (EUR </span></div><div class=\"ps6940 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">265\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8135\"> in 2024)</span><span class=\"f charStyle-c1b8f9f6 ps8136\">. The average remaining contractual life of the </span></div><div class=\"ps2794 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">options as of </span><span class=\"f charStyle-c1b8f9f6 ps8137\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps8138\"> is </span><span class=\"f charStyle-c1b8f9f6 ps8139\">4.4 years</span><span class=\"f charStyle-c1b8f9f6 ps8140\">. The annualised volatility </span></div><div class=\"ps2795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">of the shares of </span><span class=\"f charStyle-c1b8f9f6 ps8141\">31.2%</span><span class=\"f charStyle-c1b8f9f6 ps8142\"> is based on the historical volatility of the share </span></div><div class=\"ps2796 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">price, annual risk-free interest rate of </span><span class=\"f charStyle-c1b8f9f6 ps8143\">3.63%</span><span class=\"f charStyle-c1b8f9f6 ps8144\">, dividend yield of </span><span class=\"f charStyle-c1b8f9f6 ps8145\">zero</span><span class=\"f charStyle-c1b8f9f6 ps8146\">, </span></div><div class=\"ps2797 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">expected life until expiration date, and average share price of </span></div><div class=\"ps2798 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">NOK64.2</span><span class=\"f charStyle-c1b8f9f6 ps8147\">.</span></div><div class=\"ps7177 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">(viii) In March 2025, the Executive Management and select employees </span></div><div class=\"ps2800 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">were granted from </span><span class=\"f charStyle-c1b8f9f6 ps8119\">42,115</span><span class=\"f charStyle-c1b8f9f6 ps8148\"> to </span><span class=\"f charStyle-c1b8f9f6 ps8149\">631,724</span><span class=\"f charStyle-c1b8f9f6 ps8150\"> options in Cadeler shares, which </span></div><div class=\"ps2801 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">will vest in March 2028 and expire in March 2031. The strike price will </span></div><div class=\"ps2802 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">be </span><span class=\"f charStyle-c1b8f9f6 ps8151\">NOK60.2</span><span class=\"f charStyle-c1b8f9f6 ps8152\"> and vesting is conditional upon continued employment </span></div><div class=\"ps2803 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">at Cadeler. The fair value of these options is </span><span class=\"f charStyle-c1b8f9f6 ps8153\">2\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8154\"> (EUR </span><span class=\"f charStyle-c1b8f9f6 ps8155\">1.4</span><span class=\"f charStyle-c1b8f9f6 ps8156\"> per </span></div><div class=\"ps2804 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">option) as determined at grant date using the Black-Scholes model. </span></div><div class=\"ps2805 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">The expense recognized in profit and loss for the year amounts to </span></div><div class=\"ps2806 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps882\"> </span><span class=\"f charStyle-c1b8f9f6 ps883\">479\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8157\">. The average remaining contractual life of the </span></div><div class=\"ps2807 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">options as of </span><span class=\"f charStyle-c1b8f9f6 ps8137\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps8138\"> is </span><span class=\"f charStyle-c1b8f9f6 ps8139\">5.3 years</span><span class=\"f charStyle-c1b8f9f6 ps8158\">. The annualised volatility </span></div><div class=\"ps2808 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">of the shares is </span><span class=\"f charStyle-c1b8f9f6 ps8159\">31.66%</span><span class=\"f charStyle-c1b8f9f6 ps8160\"> based on historical volatility of the share price </span></div><div class=\"ps2809 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">price, annual risk-free interest rate of </span><span class=\"f charStyle-c1b8f9f6 ps8143\">3.93%</span><span class=\"f charStyle-c1b8f9f6 ps8144\">, a dividend yield of </span><span class=\"f charStyle-c1b8f9f6 ps8161\">zero</span><span class=\"f charStyle-c1b8f9f6 ps8162\">, </span></div><div class=\"ps2810 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">an expected life of </span><span class=\"f charStyle-c1b8f9f6 ps8163\">4 years</span><span class=\"f charStyle-c1b8f9f6 ps8164\"> from grant date and average share price </span></div><div class=\"ps8167 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">of </span><span class=\"f charStyle-c1b8f9f6 ps8165\">NOK52</span><span class=\"f charStyle-c1b8f9f6 ps8166\">. </span></div><div class=\"ps7512 ss0\"><div class=\"ss375 ws0 ps67\"><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=\"ps8180 ss629\"><div><div class=\"ps41 ss628\"><span class=\"f charStyle-281247bf ps8179\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps437 ss629\"><div><div class=\"ps41 ss628\"><span class=\"f charStyle-054ead99 ps8179\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8181 ss629\"><div><div class=\"ps41 ss628\"><span class=\"f charStyle-054ead99 ps8179\">2023<span class=\"f ps40\"> </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=\"ps8183 ss631\"><div><div class=\"ps41 ss630\"><span class=\"f charStyle-281247bf ps8182\">Executive management<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#206079;padding:0\"><div class=\"ps8185 ss631\"><div><div class=\"ps41 ss630\"><span class=\"f charStyle-281247bf ps8184\">Other employees<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"padding:0\"><div class=\"ps8186 ss631\"><div><div class=\"ps41 ss630\"><span class=\"f charStyle-054ead99 ps8182\">Executive management<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8187 ss631\"><div><div class=\"ps41 ss630\"><span class=\"f charStyle-054ead99 ps8184\">Other employees<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8188 ss631\"><div><div class=\"ps41 ss630\"><span class=\"f charStyle-054ead99 ps8182\">Executive management<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"padding:0\"><div class=\"ps8189 ss631\"><div><div class=\"ps41 ss630\"><span class=\"f charStyle-054ead99 ps8184\">Other employees<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps45 ss632\"><div><div class=\"ps5628 ss627\"><span class=\"f charStyle-b07b4361 ps39\">Outstanding instruments - <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss627\"><span class=\"f charStyle-b07b4361 ps39\">Options</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8192 ss633\"><div><div class=\"ps8191 ss338\"><span class=\"f charStyle-4979afbe ps8190\">Number<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8195 ss635\"><div><div class=\"ps8191 ss634\"><span class=\"f charStyle-4979afbe ps8193\">WAEP</span><span class=\"f charStyle-88564ae7 ps8194\"><sup>1</sup></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8196 ss633\"><div><div class=\"ps8191 ss338\"><span class=\"f charStyle-4979afbe ps8190\">Number<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8197 ss635\"><div><div class=\"ps8191 ss634\"><span class=\"f charStyle-4979afbe ps8193\">WAEP</span><span class=\"f charStyle-88564ae7 ps8194\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8198 ss633\"><div><div class=\"ps8191 ss338\"><span class=\"f charStyle-64a4cf84 ps8190\">Number<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8199 ss635\"><div><div class=\"ps8191 ss634\"><span class=\"f charStyle-5e156cc0 ps8193\">WAEP</span><span class=\"f charStyle-6df02eca ps8194\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8200 ss633\"><div><div class=\"ps8191 ss338\"><span class=\"f charStyle-64a4cf84 ps8190\">Number<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-right:1pt solid #ecedef;padding:0\"><div class=\"ps752 ss635\"><div><div class=\"ps8191 ss634\"><span class=\"f charStyle-5e156cc0 ps8193\">WAEP</span><span class=\"f charStyle-6df02eca ps8194\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8202 ss633\"><div><div class=\"ps8191 ss338\"><span class=\"f charStyle-64a4cf84 ps8201\">Number<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8203 ss635\"><div><div class=\"ps8191 ss634\"><span class=\"f charStyle-5e156cc0 ps8193\">WAEP</span><span class=\"f charStyle-6df02eca ps8194\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8204 ss633\"><div><div class=\"ps8191 ss338\"><span class=\"f charStyle-64a4cf84 ps8201\">Number<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8205 ss635\"><div><div class=\"ps8191 ss634\"><span class=\"f charStyle-5e156cc0 ps8193\">WAEP</span><span class=\"f charStyle-6df02eca ps8194\"><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=\"ps5277 ss636\"><div><div class=\"ps41 ss627\"><span class=\"f charStyle-1bac868e ps630\">Outstanding at 1 January<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8207 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.37pt\"></span></span><span class=\"ps8206\">1,353,052</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8209 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.47pt\"></span></span><span class=\"ps8208\">4.39</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8210 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.37pt\"></span></span><span class=\"ps8206\">1,487,689</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8211 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.47pt\"></span></span><span class=\"ps8208\">4.76</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8213 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8212\">967,029</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8215 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8214\">3.47</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8216 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8212\">894,123</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8217 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8214\">3.46</span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8218 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8212\">344,589</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8219 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8214\">3.16</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8220 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8212\">330,963</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8221 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8214\">3.15</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps647 ss636\"><div><div class=\"ps41 ss627\"><span class=\"f charStyle-1bac868e ps630\">Granted during the year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8223 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8222\">912,490</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8224 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.47pt\"></span></span><span class=\"ps8208\">5.09</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8225 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8222\">491,341</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8226 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.47pt\"></span></span><span class=\"ps8208\">5.09</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8227 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8212\">386,023</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8228 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8214\">6.24</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8229 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8212\">631,674</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps650 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8214\">6.24</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8230 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8212\">622,440</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8231 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8214\">3.64</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8232 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.82pt\"></span></span><span class=\"ps8212\">563,160</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8233 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8214\">3.64</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps6288 ss636\"><div><div class=\"ps41 ss627\"><span class=\"f charStyle-1bac868e ps630\">Forfeited during the year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8235 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8237 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8239 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.6pt\"></span></span><span class=\"ps8238\">(62,908)</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8240 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.47pt\"></span></span><span class=\"ps8208\">3.80</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8242 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8241\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8244 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8243\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8245 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8241\">\u2014</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8246 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8243\">\u2014</span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8247 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8241\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8248 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8243\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8249 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8241\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8250 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8243\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps8251 ss636\"><div><div class=\"ps41 ss627\"><span class=\"f charStyle-1bac868e ps630\">Exercised during the year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8252 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8253 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8254 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8255 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8256 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8241\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8257 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.12pt\"></span></span><span class=\"ps8214\">3.03</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8258 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.25pt\"></span></span><span class=\"ps7758\">(38,108)</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8259 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8243\">\u2014</span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8260 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8241\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8261 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8243\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8262 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8241\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8263 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8243\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8264 ss636\"><div><div class=\"ps41 ss627\"><span class=\"f charStyle-1bac868e ps630\">Expired during the year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8265 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8266 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8267 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8268 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8269 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8241\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8270 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8243\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8271 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8241\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8272 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8243\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8273 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8241\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8274 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8243\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8275 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.87pt\"></span></span><span class=\"ps8241\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8276 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.62pt\"></span></span><span class=\"ps8243\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4812 ss636\"><div><div class=\"ps41 ss627\"><span class=\"f charStyle-b07b4361 ps39\">Outstanding at 31 December <span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8278 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.17pt\"></span></span><span class=\"ps8277\">2,265,542</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8280 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.03pt\"></span></span><span class=\"ps8279\">4.69</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8281 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.17pt\"></span></span><span class=\"ps8277\">1,916,122</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8282 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.03pt\"></span></span><span class=\"ps8279\">4.90</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8284 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:17.82pt\"></span></span><span class=\"ps8283\">1,353,052</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8285 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44 ps4006\">4.39<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8286 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:17.82pt\"></span></span><span class=\"ps8283\">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=\"ps8287 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44 ps4006\">4.76<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8289 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.42pt\"></span></span><span class=\"ps8288\">967,029</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8290 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44 ps4006\">3.47<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8291 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.42pt\"></span></span><span class=\"ps8288\">894,123</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8292 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44 ps4006\">3.46<span class=\"f ps40\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps8395 ss0\"><div class=\"ss642 ws0 ps67\"><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=\"ps8296 ss629\"><div><div class=\"ps41 ss628\"><span class=\"f charStyle-281247bf ps8179\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8297 ss629\"><div><div class=\"ps41 ss628\"><span class=\"f charStyle-054ead99 ps8179\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8298 ss629\"><div><div class=\"ps41 ss628\"><span class=\"f charStyle-054ead99 ps8179\">2023<span class=\"f ps40\"> </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=\"ps8299 ss631\"><div><div class=\"ps41 ss630\"><span class=\"f charStyle-281247bf ps8182\">Executive management<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#206079;padding:0\"><div class=\"ps8300 ss631\"><div><div class=\"ps41 ss630\"><span class=\"f charStyle-281247bf ps8184\">Other employees<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"padding:0\"><div class=\"ps8301 ss631\"><div><div class=\"ps41 ss630\"><span class=\"f charStyle-054ead99 ps8182\">Executive management<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8302 ss631\"><div><div class=\"ps41 ss630\"><span class=\"f charStyle-054ead99 ps8184\">Other employees<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8303 ss631\"><div><div class=\"ps41 ss630\"><span class=\"f charStyle-054ead99 ps8182\">Executive management<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"padding:0\"><div class=\"ps8304 ss631\"><div><div class=\"ps41 ss630\"><span class=\"f charStyle-054ead99 ps8184\">Other employees<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps45 ss640\"><div><div class=\"ps5628 ss639\"><span class=\"f charStyle-b07b4361 ps39\">Outstanding instruments - <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss639\"><span class=\"f charStyle-b07b4361 ps39\">RSU</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8306 ss633\"><div><div class=\"ps8191 ss338\"><span class=\"f charStyle-4979afbe ps8305\">Number<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8307 ss635\"><div><div class=\"ps8191 ss634\"><span class=\"f charStyle-4979afbe ps8193\">WAEP</span><span class=\"f charStyle-88564ae7 ps8194\"><sup>1</sup></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8308 ss633\"><div><div class=\"ps8191 ss338\"><span class=\"f charStyle-4979afbe ps8305\">Number<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8309 ss635\"><div><div class=\"ps8191 ss634\"><span class=\"f charStyle-4979afbe ps8193\">WAEP</span><span class=\"f charStyle-88564ae7 ps8194\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8310 ss633\"><div><div class=\"ps8191 ss338\"><span class=\"f charStyle-64a4cf84 ps8305\">Number<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8311 ss635\"><div><div class=\"ps8191 ss634\"><span class=\"f charStyle-5e156cc0 ps8193\">WAEP</span><span class=\"f charStyle-6df02eca ps8194\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8312 ss633\"><div><div class=\"ps8191 ss338\"><span class=\"f charStyle-64a4cf84 ps8305\">Number<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8313 ss635\"><div><div class=\"ps8191 ss634\"><span class=\"f charStyle-5e156cc0 ps8193\">WAEP</span><span class=\"f charStyle-6df02eca ps8194\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8315 ss633\"><div><div class=\"ps8191 ss338\"><span class=\"f charStyle-64a4cf84 ps8314\">Number<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8316 ss635\"><div><div class=\"ps8191 ss634\"><span class=\"f charStyle-5e156cc0 ps8193\">WAEP</span><span class=\"f charStyle-6df02eca ps8194\"><sup>1</sup></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8317 ss633\"><div><div class=\"ps8191 ss338\"><span class=\"f charStyle-64a4cf84 ps8314\">Number<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8318 ss635\"><div><div class=\"ps8191 ss634\"><span class=\"f charStyle-5e156cc0 ps8193\">WAEP</span><span class=\"f charStyle-6df02eca ps8194\"><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=\"ps5277 ss641\"><div><div class=\"ps41 ss639\"><span class=\"f charStyle-1bac868e ps630\">Outstanding at 1 January<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8319 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8222\">382,707</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8320 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8321 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8222\">205,504</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8322 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8323 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8222\">245,126</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8324 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8325 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8222\">271,327</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8326 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8328 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.02pt\"></span></span><span class=\"ps8327\">55,430</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8329 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8330 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.02pt\"></span></span><span class=\"ps8327\">65,823</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8331 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps647 ss641\"><div><div class=\"ps41 ss639\"><span class=\"f charStyle-1bac868e ps630\">Granted during the year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8332 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8333 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8334 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8335 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8336 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8222\">193,011</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8337 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8338 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8339 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8340 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8222\">189,696</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8341 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8342 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8222\">205,504</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8343 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps6288 ss641\"><div><div class=\"ps41 ss639\"><span class=\"f charStyle-1bac868e ps630\">Forfeited during the year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8344 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8345 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8347 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.45pt\"></span></span><span class=\"ps8346\">(6,847)</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8348 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8349 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8350 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8351 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8352 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8353 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8354 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8355 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8356 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps8251 ss641\"><div><div class=\"ps41 ss639\"><span class=\"f charStyle-1bac868e ps630\">Exercised during the year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8358 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.75pt\"></span></span><span class=\"ps8357\">(189,696)</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8359 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8360 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.75pt\"></span></span><span class=\"ps8357\">(198,657)</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8361 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8362 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.6pt\"></span></span><span class=\"ps8238\">(55,430)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8363 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8364 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.6pt\"></span></span><span class=\"ps8238\">(65,823)</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8365 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8366 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8367 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8368 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8369 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8264 ss641\"><div><div class=\"ps41 ss639\"><span class=\"f charStyle-1bac868e ps630\">Expired during the year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8370 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8371 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8372 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8373 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8374 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8375 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8376 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-right:1pt solid #ecedef;padding:0\"><div class=\"ps8377 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-left:1pt solid #ecedef;padding:0\"><div class=\"ps8378 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8379 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8380 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8381 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4812 ss641\"><div><div class=\"ps41 ss639\"><span class=\"f charStyle-b07b4361 ps39\">Outstanding at 31 December<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8382 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.77pt\"></span></span><span class=\"ps6901\">193,011</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8383 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8384 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8385 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.97pt\"></span></span><span class=\"ps8236\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8386 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.42pt\"></span></span><span class=\"ps8288\">382,707</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8388 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44 ps8387\">0<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8389 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.42pt\"></span></span><span class=\"ps8288\">205,504</span></span></div></div></div></td><td style=\"border-right:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8390 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44 ps8387\">0<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-left:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8391 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.42pt\"></span></span><span class=\"ps8288\">245,126</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8392 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44 ps8387\">0<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8393 ss637\"><div><div class=\"ps41 ss338\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.42pt\"></span></span><span class=\"ps8288\">271,327</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8394 ss638\"><div><div class=\"ps41 ss634\"><span class=\"f charStyle-e5ec5c44 ps8387\">0<span class=\"f ps40\"> </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 ps183\">Note 8</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Board of Directors and Executive Management Compensation<span id=\"i430bdd9f93894189b006496fc30f907b\"></span></span></div><div class=\"ps7684 ss0\"><div class=\"ss650 ws0 ps67\"><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=\"ps8400 ss645\"><div><div class=\"ps41 ss644\"><span class=\"f charStyle-281247bf ps8399\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"padding:0\"><div class=\"ps7531 ss645\"><div><div class=\"ps41 ss644\"><span class=\"f charStyle-054ead99 ps8399\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"padding:0\"><div class=\"ps8401 ss645\"><div><div class=\"ps41 ss644\"><span class=\"f charStyle-054ead99 ps8399\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:30.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps43 ss646\"><div><div class=\"ps8402 ss643\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8407 ss647\"><div><div class=\"ps8404 ss297\"><span class=\"f charStyle-281247bf ps8403\">Board of <span class=\"f ps40\"> </span></span></div><div class=\"ps8406 ss297\"><span class=\"f charStyle-281247bf ps8405\">directors</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8410 ss647\"><div><div class=\"ps8404 ss297\"><span class=\"f charStyle-281247bf ps8408\">Executive <span class=\"f ps40\"> </span></span></div><div class=\"ps8406 ss297\"><span class=\"f charStyle-281247bf ps8409\">management</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8411 ss647\"><div><div class=\"ps8406 ss297\"><span class=\"f charStyle-281247bf ps7690\">Total<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8412 ss647\"><div><div class=\"ps8404 ss297\"><span class=\"f charStyle-054ead99 ps8403\">Board of <span class=\"f ps40\"> </span></span></div><div class=\"ps8406 ss297\"><span class=\"f charStyle-054ead99 ps8405\">directors</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8413 ss647\"><div><div class=\"ps8404 ss297\"><span class=\"f charStyle-054ead99 ps8408\">Executive <span class=\"f ps40\"> </span></span></div><div class=\"ps8406 ss297\"><span class=\"f charStyle-054ead99 ps8409\">management</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8414 ss647\"><div><div class=\"ps8406 ss297\"><span class=\"f charStyle-054ead99 ps7690\">Total<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8415 ss647\"><div><div class=\"ps8404 ss297\"><span class=\"f charStyle-054ead99 ps8403\">Board of <span class=\"f ps40\"> </span></span></div><div class=\"ps8406 ss297\"><span class=\"f charStyle-054ead99 ps8405\">directors</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8416 ss647\"><div><div class=\"ps8404 ss297\"><span class=\"f charStyle-054ead99 ps8408\">Executive <span class=\"f ps40\"> </span></span></div><div class=\"ps8406 ss297\"><span class=\"f charStyle-054ead99 ps8409\">management</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8417 ss647\"><div><div class=\"ps8406 ss297\"><span class=\"f charStyle-054ead99 ps7690\">Total<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2069 ss648\"><div><div class=\"ps41 ss643\"><span class=\"f charStyle-1bac868e ps630\">Wages, salaries and board fees<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8419 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8418\">419</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8420 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8418\">998</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8422 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">1,417</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8423 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8418\">334</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8424 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8418\">955</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8425 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">1,289</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8426 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8418\">183</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8427 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8418\">821</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8428 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">1,004</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps2167 ss648\"><div><div class=\"ps41 ss643\"><span class=\"f charStyle-1bac868e ps630\">Pension costs - defined contribution plans<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8430 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8429\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8431 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8418\">100</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8432 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8418\">100</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8433 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8429\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8435 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8434\">95</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8436 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8434\">95</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8437 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8429\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8438 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8434\">29</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8439 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8434\">29</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps2197 ss648\"><div><div class=\"ps41 ss643\"><span class=\"f charStyle-1bac868e ps630\">Share based payment<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8440 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8429\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8441 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">1,249</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8442 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">1,249</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8443 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8429\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8444 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8418\">957</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8445 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8418\">957</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8446 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8429\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8447 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8418\">588</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8448 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.07pt\"></span></span><span class=\"ps8418\">588</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps5667 ss648\"><div><div class=\"ps41 ss643\"><span class=\"f charStyle-1bac868e ps630\">Other short-term benefits<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8449 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8429\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8450 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8434\">35</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8451 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8434\">35</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8452 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8429\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8453 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8434\">41</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8454 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8434\">41</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8455 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8429\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8456 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8434\">55</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8457 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.92pt\"></span></span><span class=\"ps8434\">55</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5673 ss648\"><div><div class=\"ps41 ss643\"><span class=\"f charStyle-1bac868e ps630\">Cash bonus<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8458 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8429\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8459 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">2,473</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8460 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">2,473</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8461 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8429\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8462 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">1,197</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8463 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">1,197</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8464 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.62pt\"></span></span><span class=\"ps8429\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8465 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">1,155</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8466 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">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=\"ps1819 ss648\"><div><div class=\"ps41 ss643\"><span class=\"f charStyle-b07b4361 ps39\">Total management compensation<span class=\"f ps40\"> </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=\"ps8468 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.11pt\"></span></span><span class=\"ps8467\">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=\"ps8470 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.51pt\"></span></span><span class=\"ps8469\">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=\"ps8471 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.51pt\"></span></span><span class=\"ps8469\">5,274</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8472 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.11pt\"></span></span><span class=\"ps8467\">334</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8473 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.51pt\"></span></span><span class=\"ps8469\">3,245</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8474 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.51pt\"></span></span><span class=\"ps8469\">3,579</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8475 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.11pt\"></span></span><span class=\"ps8467\">183</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8476 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.51pt\"></span></span><span class=\"ps8469\">2,648</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8477 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.51pt\"></span></span><span class=\"ps8469\">2,831</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps8479 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Executive Management<span id=\"i4aea9fb2a6e3447b861a2c4d2ae241f8\"></span></span></div><div class=\"ps8480 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Executive Management refers to the members of the Executive </span></div><div class=\"ps8481 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Management who are registered with the Danish business authority </span></div><div class=\"ps8482 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">and who have the authority and responsibility for the planning, </span></div><div class=\"ps8483 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">directing and controlling of the activities of the Company as defined </span></div><div class=\"ps8484 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">by IAS 24. As such, Executive Management is considered Chief </span></div><div class=\"ps8485 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Operating Decision Makers (CODM) as defined by IFRS 8.</span></div><div class=\"ps8479 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps879\">Board of Directors<span id=\"ic39a4ba5386743bb8c25659cb8623c39\"></span></span></div><div class=\"ps8480 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">Andreas Sohmen-Pao and Andreas Beroutsos are employed by the </span></div><div class=\"ps8481 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">BW Group. These board members did not receive remuneration from </span></div><div class=\"ps8482 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">Cadeler in </span><span class=\"f charStyle-c1b8f9f6 ps8487\">2023</span><span class=\"f charStyle-c1b8f9f6 ps8488\">, </span><span class=\"f charStyle-c1b8f9f6 ps8489\">2024</span><span class=\"f charStyle-c1b8f9f6 ps8490\"> and </span><span class=\"f charStyle-c1b8f9f6 ps8491\">2025</span><span class=\"f charStyle-c1b8f9f6 ps8492\">. Andreas Beroutsos stepped down </span></div><div class=\"ps8483 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">from the Board with effect from 25 April 2023. On the same date, </span></div><div class=\"ps8484 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">Andrea Abt joined the Board. </span></div><div class=\"ps8493 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">David Peter Cogman is employed by the Swire Group and did not </span></div><div class=\"ps8486 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">receive remuneration from Cadeler in 2022 and 2023. David Peter </span></div><div class=\"ps8494 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">Cogman stepped down from the Board with effect from 16 June </span></div><div class=\"ps8495 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">2023, together with Connie Hedegaard. </span></div><div class=\"ps8497 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">On 20 February 2024, Emanuele Lauro and James Nish joined the </span></div><div class=\"ps8498 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Board. Emanuele Lauro is the Director and Chief Executive Officer of </span></div><div class=\"ps8500 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Scorpio Holdings Limited, which is considered a related party (see</span><span class=\"f charStyle-c1b8f9f6 ps8499\"> </span></div><div class=\"ps8502 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Note 27</span><span class=\"f charStyle-c1b8f9f6 ps8501\">).</span></div><div class=\"ps2971 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">On 23 April 2024, Jesper T. Lok left the Board of Directors and </span></div><div class=\"ps2972 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Colette Cohen was elected to serve a </span><span class=\"f charStyle-c1b8f9f6 ps8503\">two</span><span class=\"f charStyle-c1b8f9f6 ps8504\"> year</span><span class=\"f charStyle-c1b8f9f6 ps8505\"> term through the 2026 </span></div><div class=\"ps2771 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">AGM. </span></div><div class=\"ps1683 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">On 11 November 2024, Thomas Thune Andersen was elected as a </span></div><div class=\"ps1684 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">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-539": {
   "value": "<div class=\"ps7007 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps916\">Accounting policies<span id=\"i3d9fd592568545fba7f9aaba92e4e114\"></span></span></div><div class=\"ps7569 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps916\">Share-based payments<span id=\"i77a129f43c404185bc9fa311eefc3b72\"></span></span></div><div class=\"ps8168 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Employees (including senior executives) of the Group receive </span></div><div class=\"ps3406 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">remuneration in the form of share-based payments, whereby </span></div><div class=\"ps269 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">employees render services as consideration for equity instruments </span></div><div class=\"ps8169 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">(equity-settled transactions).</span></div><div class=\"ps8170 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps916\">Equity-settled transactions<span id=\"ide32f3e76d934c0fb38aac612e53c8e7\"></span></span></div><div class=\"ps8171 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">The cost of equity-settled transactions is determined by the fair value </span></div><div class=\"ps8172 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">at the date on which the grant is made using an appropriate </span></div><div class=\"ps8173 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">valuation model. That cost is recognised as employee benefits </span></div><div class=\"ps4224 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">expenses, together with a corresponding increase in equity (retained </span></div><div class=\"ps4225 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">earnings), over the period in which the service and, where applicable, </span></div><div class=\"ps4226 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">the performance conditions are fulfilled (the vesting period). The </span></div><div class=\"ps4227 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">cumulative expense recognised for equity-settled transactions at each </span></div><div class=\"ps4228 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">reporting date until the vesting date reflects both the extent to which </span></div><div class=\"ps3255 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">the vesting period has expired and the Group\u2019s best estimate of the </span></div><div class=\"ps8174 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">number of equity instruments that will ultimately vest. The expense or </span></div><div class=\"ps8175 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">credit in the statement of profit or loss for a period represents the </span></div><div class=\"ps8176 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">movement in cumulative expense recognised at the beginning and </span></div><div class=\"ps1941 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">end of that period.</span></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Service and non-market performance conditions are not considered </span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">when determining the grant date fair value of awards. Instead, the </span></div><div class=\"ps7161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">likelihood of these conditions being met is assessed as part of the </span></div><div class=\"ps7164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Group\u2019s best estimate of the number of equity instruments that will </span></div><div class=\"ps7578 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">ultimately vest. Market performance conditions are reflected directly </span></div><div class=\"ps7579 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">in the grant date fair value.</span></div><div class=\"ps7118 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Any other conditions attached to an award, that do not include an </span></div><div class=\"ps7119 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">associated service requirement, are considered to be non-vesting </span></div><div class=\"ps7165 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">conditions. Non-vesting conditions are reflected in the fair value of </span></div><div class=\"ps7166 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">an award and result in an immediate expensing, unless there are also </span></div><div class=\"ps7167 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">service and/or performance conditions.</span></div><div class=\"ps5471 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">No expense is recognised for awards that do not ultimately vest as a </span></div><div class=\"ps7039 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">result non-market performance and/or service conditions not being </span></div><div class=\"ps7040 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">met. </span></div><div class=\"ps5474 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Where awards include a market or non-vesting condition, the </span></div><div class=\"ps5475 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">transactions are treated as vested regardless of whether the market </span></div><div class=\"ps5476 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">or non-vesting condition is satisfied, provided that all other </span></div><div class=\"ps5477 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">performance and/or service conditions are satisfied.</span></div><div class=\"ps7042 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The dilutive effect of outstanding options is reflected as additional </span></div><div class=\"ps5479 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">share dilution in the computation of diluted earnings per share in a </span></div><div class=\"ps5480 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">loss situation only where the loss per share is reduced.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-541": {
   "value": "<div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 9</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Financial Income and Expenses<span id=\"i446ab1e952044c41b7f76281d1072f7a\"></span></span></div><div class=\"ps7684 ss0\"><div class=\"ss613 ws0 ps67\"><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=\"ps37 ss651\"><div><div class=\"ps747 ss358\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8511 ss653\"><div><div class=\"ps41 ss652\"><span class=\"f charStyle-281247bf ps8510\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8512 ss653\"><div><div class=\"ps41 ss652\"><span class=\"f charStyle-054ead99 ps8510\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps1985 ss653\"><div><div class=\"ps41 ss652\"><span class=\"f charStyle-054ead99 ps8510\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps43 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-1bac868e ps630\">Foreign currency gain<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8514 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">5,784</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8515 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">1,511</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8517 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8516\">109</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps631 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-1bac868e ps630\">Fair value change of derivative (ineffectiveness)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8519 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.47pt\"></span></span><span class=\"ps8518\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8520 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8516\">428</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8521 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.47pt\"></span></span><span class=\"ps8518\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5277 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-1bac868e ps630\">Interest income<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8522 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">1,714</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8523 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">3,294</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8524 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">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=\"ps2081 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-b07b4361 ps39\">Financial income<span class=\"f ps40\"> </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 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8525\">7,498</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8527 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8525\">5,233</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8528 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8525\">1,541</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps8541 ss0\"><div class=\"ss613 ws0 ps67\"><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=\"ps37 ss651\"><div><div class=\"ps747 ss358\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8511 ss653\"><div><div class=\"ps41 ss652\"><span class=\"f charStyle-281247bf ps8510\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8512 ss653\"><div><div class=\"ps41 ss652\"><span class=\"f charStyle-054ead99 ps8510\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps1985 ss653\"><div><div class=\"ps41 ss652\"><span class=\"f charStyle-054ead99 ps8510\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps43 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-1bac868e ps630\">Interest linked to debt liabilities<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8514 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.27pt\"></span></span><span class=\"ps6065\">21,209</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8515 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">2,368</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8517 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">2,851</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps631 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-1bac868e ps630\">Guarantee charges<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8519 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8516\">994</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8520 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8516\">581</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8521 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.47pt\"></span></span><span class=\"ps8518\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5277 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-1bac868e ps630\">Fair value change of derivative (ineffectiveness)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8522 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">1,577</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8523 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.47pt\"></span></span><span class=\"ps8518\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8524 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8516\">765</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps2081 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-1bac868e ps630\">Lease liabilities<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8526 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8516\">746</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8527 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8516\">428</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8528 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:45.77pt\"></span></span><span class=\"ps8530\">25</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps767 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-1bac868e ps630\">Foreign currency loss<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8531 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.27pt\"></span></span><span class=\"ps6065\">10,877</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8532 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">3,322</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8533 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8516\">389</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5162 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-1bac868e ps630\">Bank fees<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8534 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">1,974</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8535 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8516\">501</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8536 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8516\">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=\"ps7710 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-b07b4361 ps39\">Financial expenses<span class=\"f ps40\"> </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=\"ps8538 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.19pt\"></span></span><span class=\"ps8537\">37,377</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8539 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8525\">7,200</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8540 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8525\">4,486</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps8550 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Total interest paid in </span><span class=\"f charStyle-c1b8f9f6 ps8542\">2025</span><span class=\"f charStyle-c1b8f9f6 ps8543\"> as per Consolidated Statement of Cash Flows amounts to </span><span class=\"f charStyle-c1b8f9f6 ps8544\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8545\"> </span><span class=\"f charStyle-c1b8f9f6 ps8546\">56 million</span><span class=\"f charStyle-c1b8f9f6 ps8547\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8548\">2024</span><span class=\"f charStyle-c1b8f9f6 ps8549\">: </span></div><div class=\"ps7608 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">19.7 million</span><span class=\"f charStyle-c1b8f9f6 ps8551\">; </span><span class=\"f charStyle-c1b8f9f6 ps8552\">2023</span><span class=\"f charStyle-c1b8f9f6 ps7191\">: </span><span class=\"f charStyle-c1b8f9f6 ps8553\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8554\"> </span><span class=\"f charStyle-c1b8f9f6 ps8555\">7.1 million</span><span class=\"f charStyle-c1b8f9f6 ps8556\">) and has primarily </span><span class=\"f charStyle-c1b8f9f6 ps8557\">been capitalised to Property, Plant and Equipment. </span></div><div class=\"ps8566 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">For further information refer to </span><span class=\"f charStyle-c1b8f9f6 ps8558\">Note 13. </span><span class=\"f charStyle-c1b8f9f6 ps8559\">Interest linked to debt liabilities include </span><span class=\"f charStyle-c1b8f9f6 ps8560\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8561\"> </span><span class=\"f charStyle-c1b8f9f6 ps8562\">2.4 million</span><span class=\"f charStyle-c1b8f9f6 ps8563\"> in </span><span class=\"f charStyle-c1b8f9f6 ps8564\">2024</span><span class=\"f charStyle-c1b8f9f6 ps8565\"> and </span></div><div class=\"ps8570 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">1.9\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8567\"> in </span><span class=\"f charStyle-c1b8f9f6 ps8568\">2023</span><span class=\"f charStyle-c1b8f9f6 ps8569\"> relating to the write off of loan fees associated with previous debt facilities. In </span></div><div class=\"ps8575 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">addition, in 2023, </span><span class=\"f charStyle-c1b8f9f6 ps8571\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8572\"> </span><span class=\"f charStyle-c1b8f9f6 ps8573\">1.0\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8574\"> relates to the amendment of a prior debt facility in June 2023.</span></div><div class=\"ps6921 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Accounting policies<span id=\"i87a40683dcc746a6b776ffeef0cb9094\"></span></span></div><div class=\"ps6924 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Finance income and expenses comprise interest income and expenses, as well as realised and unrealised </span></div><div class=\"ps6926 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">exchange rate gains and losses on transactions denominated in foreign currencies, together with fair value </span></div><div class=\"ps2788 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">adjustments related to the ineffective portion of financial instruments.</span></div><div class=\"ps7578 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Interest income and interest expenses are recognised using the effective interest rate. The effective interest </span></div><div class=\"ps7579 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">rate is the discount rate used to discount expected future cash payments or receipts over the expected life </span></div><div class=\"ps6936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">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-540": {
   "value": "<div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 9</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Financial Income and Expenses<span id=\"i446ab1e952044c41b7f76281d1072f7a\"></span></span></div><div class=\"ps7684 ss0\"><div class=\"ss613 ws0 ps67\"><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=\"ps37 ss651\"><div><div class=\"ps747 ss358\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8511 ss653\"><div><div class=\"ps41 ss652\"><span class=\"f charStyle-281247bf ps8510\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8512 ss653\"><div><div class=\"ps41 ss652\"><span class=\"f charStyle-054ead99 ps8510\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps1985 ss653\"><div><div class=\"ps41 ss652\"><span class=\"f charStyle-054ead99 ps8510\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps43 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-1bac868e ps630\">Foreign currency gain<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8514 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">5,784</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8515 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">1,511</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8517 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8516\">109</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps631 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-1bac868e ps630\">Fair value change of derivative (ineffectiveness)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8519 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.47pt\"></span></span><span class=\"ps8518\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8520 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8516\">428</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8521 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.47pt\"></span></span><span class=\"ps8518\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5277 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-1bac868e ps630\">Interest income<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8522 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">1,714</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8523 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">3,294</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8524 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">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=\"ps2081 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-b07b4361 ps39\">Financial income<span class=\"f ps40\"> </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 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8525\">7,498</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8527 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8525\">5,233</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8528 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8525\">1,541</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps8541 ss0\"><div class=\"ss613 ws0 ps67\"><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=\"ps37 ss651\"><div><div class=\"ps747 ss358\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8511 ss653\"><div><div class=\"ps41 ss652\"><span class=\"f charStyle-281247bf ps8510\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8512 ss653\"><div><div class=\"ps41 ss652\"><span class=\"f charStyle-054ead99 ps8510\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps1985 ss653\"><div><div class=\"ps41 ss652\"><span class=\"f charStyle-054ead99 ps8510\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps43 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-1bac868e ps630\">Interest linked to debt liabilities<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8514 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.27pt\"></span></span><span class=\"ps6065\">21,209</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8515 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">2,368</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8517 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">2,851</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps631 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-1bac868e ps630\">Guarantee charges<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8519 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8516\">994</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8520 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8516\">581</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8521 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.47pt\"></span></span><span class=\"ps8518\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5277 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-1bac868e ps630\">Fair value change of derivative (ineffectiveness)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8522 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">1,577</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8523 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.47pt\"></span></span><span class=\"ps8518\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8524 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8516\">765</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps2081 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-1bac868e ps630\">Lease liabilities<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8526 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8516\">746</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8527 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8516\">428</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8528 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:45.77pt\"></span></span><span class=\"ps8530\">25</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps767 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-1bac868e ps630\">Foreign currency loss<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8531 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.27pt\"></span></span><span class=\"ps6065\">10,877</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8532 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">3,322</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8533 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8516\">389</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5162 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-1bac868e ps630\">Bank fees<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8534 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">1,974</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8535 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8516\">501</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8536 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8516\">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=\"ps7710 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-b07b4361 ps39\">Financial expenses<span class=\"f ps40\"> </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=\"ps8538 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.19pt\"></span></span><span class=\"ps8537\">37,377</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8539 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8525\">7,200</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8540 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8525\">4,486</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps8550 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Total interest paid in </span><span class=\"f charStyle-c1b8f9f6 ps8542\">2025</span><span class=\"f charStyle-c1b8f9f6 ps8543\"> as per Consolidated Statement of Cash Flows amounts to </span><span class=\"f charStyle-c1b8f9f6 ps8544\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8545\"> </span><span class=\"f charStyle-c1b8f9f6 ps8546\">56 million</span><span class=\"f charStyle-c1b8f9f6 ps8547\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8548\">2024</span><span class=\"f charStyle-c1b8f9f6 ps8549\">: </span></div><div class=\"ps7608 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">19.7 million</span><span class=\"f charStyle-c1b8f9f6 ps8551\">; </span><span class=\"f charStyle-c1b8f9f6 ps8552\">2023</span><span class=\"f charStyle-c1b8f9f6 ps7191\">: </span><span class=\"f charStyle-c1b8f9f6 ps8553\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8554\"> </span><span class=\"f charStyle-c1b8f9f6 ps8555\">7.1 million</span><span class=\"f charStyle-c1b8f9f6 ps8556\">) and has primarily </span><span class=\"f charStyle-c1b8f9f6 ps8557\">been capitalised to Property, Plant and Equipment. </span></div><div class=\"ps8566 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">For further information refer to </span><span class=\"f charStyle-c1b8f9f6 ps8558\">Note 13. </span><span class=\"f charStyle-c1b8f9f6 ps8559\">Interest linked to debt liabilities include </span><span class=\"f charStyle-c1b8f9f6 ps8560\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8561\"> </span><span class=\"f charStyle-c1b8f9f6 ps8562\">2.4 million</span><span class=\"f charStyle-c1b8f9f6 ps8563\"> in </span><span class=\"f charStyle-c1b8f9f6 ps8564\">2024</span><span class=\"f charStyle-c1b8f9f6 ps8565\"> and </span></div><div class=\"ps8570 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">1.9\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8567\"> in </span><span class=\"f charStyle-c1b8f9f6 ps8568\">2023</span><span class=\"f charStyle-c1b8f9f6 ps8569\"> relating to the write off of loan fees associated with previous debt facilities. In </span></div><div class=\"ps8575 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">addition, in 2023, </span><span class=\"f charStyle-c1b8f9f6 ps8571\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8572\"> </span><span class=\"f charStyle-c1b8f9f6 ps8573\">1.0\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8574\"> relates to the amendment of a prior debt facility in June 2023.</span></div><div class=\"ps6921 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Accounting policies<span id=\"i87a40683dcc746a6b776ffeef0cb9094\"></span></span></div><div class=\"ps6924 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Finance income and expenses comprise interest income and expenses, as well as realised and unrealised </span></div><div class=\"ps6926 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">exchange rate gains and losses on transactions denominated in foreign currencies, together with fair value </span></div><div class=\"ps2788 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">adjustments related to the ineffective portion of financial instruments.</span></div><div class=\"ps7578 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Interest income and interest expenses are recognised using the effective interest rate. The effective interest </span></div><div class=\"ps7579 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">rate is the discount rate used to discount expected future cash payments or receipts over the expected life </span></div><div class=\"ps6936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">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-543": {
   "value": "<div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 9</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Financial Income and Expenses<span id=\"i446ab1e952044c41b7f76281d1072f7a\"></span></span></div><div class=\"ps7684 ss0\"><div class=\"ss613 ws0 ps67\"><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=\"ps37 ss651\"><div><div class=\"ps747 ss358\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8511 ss653\"><div><div class=\"ps41 ss652\"><span class=\"f charStyle-281247bf ps8510\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8512 ss653\"><div><div class=\"ps41 ss652\"><span class=\"f charStyle-054ead99 ps8510\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps1985 ss653\"><div><div class=\"ps41 ss652\"><span class=\"f charStyle-054ead99 ps8510\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps43 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-1bac868e ps630\">Foreign currency gain<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8514 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">5,784</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8515 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">1,511</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8517 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8516\">109</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps631 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-1bac868e ps630\">Fair value change of derivative (ineffectiveness)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8519 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.47pt\"></span></span><span class=\"ps8518\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8520 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8516\">428</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8521 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.47pt\"></span></span><span class=\"ps8518\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5277 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-1bac868e ps630\">Interest income<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8522 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">1,714</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8523 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">3,294</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8524 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">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=\"ps2081 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-b07b4361 ps39\">Financial income<span class=\"f ps40\"> </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 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8525\">7,498</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8527 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8525\">5,233</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8528 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8525\">1,541</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6921 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Accounting policies<span id=\"i87a40683dcc746a6b776ffeef0cb9094\"></span></span></div><div class=\"ps6924 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Finance income and expenses comprise interest income and expenses, as well as realised and unrealised </span></div><div class=\"ps6926 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">exchange rate gains and losses on transactions denominated in foreign currencies, together with fair value </span></div><div class=\"ps2788 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">adjustments related to the ineffective portion of financial instruments.</span></div><div class=\"ps7578 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Interest income and interest expenses are recognised using the effective interest rate. The effective interest </span></div><div class=\"ps7579 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">rate is the discount rate used to discount expected future cash payments or receipts over the expected life </span></div><div class=\"ps6936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">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-542": {
   "value": "<div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 9</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Financial Income and Expenses<span id=\"i446ab1e952044c41b7f76281d1072f7a\"></span></span></div><div class=\"ps8541 ss0\"><div class=\"ss613 ws0 ps67\"><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=\"ps37 ss651\"><div><div class=\"ps747 ss358\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8511 ss653\"><div><div class=\"ps41 ss652\"><span class=\"f charStyle-281247bf ps8510\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8512 ss653\"><div><div class=\"ps41 ss652\"><span class=\"f charStyle-054ead99 ps8510\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps1985 ss653\"><div><div class=\"ps41 ss652\"><span class=\"f charStyle-054ead99 ps8510\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps43 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-1bac868e ps630\">Interest linked to debt liabilities<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8514 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.27pt\"></span></span><span class=\"ps6065\">21,209</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8515 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">2,368</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8517 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">2,851</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps631 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-1bac868e ps630\">Guarantee charges<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8519 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8516\">994</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8520 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8516\">581</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8521 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.47pt\"></span></span><span class=\"ps8518\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5277 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-1bac868e ps630\">Fair value change of derivative (ineffectiveness)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8522 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">1,577</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8523 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.47pt\"></span></span><span class=\"ps8518\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8524 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8516\">765</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps2081 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-1bac868e ps630\">Lease liabilities<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8526 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8516\">746</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8527 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8516\">428</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8528 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:45.77pt\"></span></span><span class=\"ps8530\">25</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps767 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-1bac868e ps630\">Foreign currency loss<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8531 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.27pt\"></span></span><span class=\"ps6065\">10,877</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8532 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">3,322</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8533 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8516\">389</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5162 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-1bac868e ps630\">Bank fees<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8534 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">1,974</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8535 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8516\">501</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8536 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8516\">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=\"ps7710 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-b07b4361 ps39\">Financial expenses<span class=\"f ps40\"> </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=\"ps8538 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.19pt\"></span></span><span class=\"ps8537\">37,377</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8539 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8525\">7,200</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8540 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8525\">4,486</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps8550 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Total interest paid in </span><span class=\"f charStyle-c1b8f9f6 ps8542\">2025</span><span class=\"f charStyle-c1b8f9f6 ps8543\"> as per Consolidated Statement of Cash Flows amounts to </span><span class=\"f charStyle-c1b8f9f6 ps8544\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8545\"> </span><span class=\"f charStyle-c1b8f9f6 ps8546\">56 million</span><span class=\"f charStyle-c1b8f9f6 ps8547\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8548\">2024</span><span class=\"f charStyle-c1b8f9f6 ps8549\">: </span></div><div class=\"ps7608 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">19.7 million</span><span class=\"f charStyle-c1b8f9f6 ps8551\">; </span><span class=\"f charStyle-c1b8f9f6 ps8552\">2023</span><span class=\"f charStyle-c1b8f9f6 ps7191\">: </span><span class=\"f charStyle-c1b8f9f6 ps8553\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8554\"> </span><span class=\"f charStyle-c1b8f9f6 ps8555\">7.1 million</span><span class=\"f charStyle-c1b8f9f6 ps8556\">) and has primarily </span><span class=\"f charStyle-c1b8f9f6 ps8557\">been capitalised to Property, Plant and Equipment. </span></div><div class=\"ps8566 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">For further information refer to </span><span class=\"f charStyle-c1b8f9f6 ps8558\">Note 13. </span><span class=\"f charStyle-c1b8f9f6 ps8559\">Interest linked to debt liabilities include </span><span class=\"f charStyle-c1b8f9f6 ps8560\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8561\"> </span><span class=\"f charStyle-c1b8f9f6 ps8562\">2.4 million</span><span class=\"f charStyle-c1b8f9f6 ps8563\"> in </span><span class=\"f charStyle-c1b8f9f6 ps8564\">2024</span><span class=\"f charStyle-c1b8f9f6 ps8565\"> and </span></div><div class=\"ps8570 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">1.9\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8567\"> in </span><span class=\"f charStyle-c1b8f9f6 ps8568\">2023</span><span class=\"f charStyle-c1b8f9f6 ps8569\"> relating to the write off of loan fees associated with previous debt facilities. In </span></div><div class=\"ps8575 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">addition, in 2023, </span><span class=\"f charStyle-c1b8f9f6 ps8571\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8572\"> </span><span class=\"f charStyle-c1b8f9f6 ps8573\">1.0\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8574\"> relates to the amendment of a prior debt facility in June 2023.</span></div><div class=\"ps6921 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Accounting policies<span id=\"i87a40683dcc746a6b776ffeef0cb9094\"></span></span></div><div class=\"ps6924 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Finance income and expenses comprise interest income and expenses, as well as realised and unrealised </span></div><div class=\"ps6926 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">exchange rate gains and losses on transactions denominated in foreign currencies, together with fair value </span></div><div class=\"ps2788 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">adjustments related to the ineffective portion of financial instruments.</span></div><div class=\"ps7578 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Interest income and interest expenses are recognised using the effective interest rate. The effective interest </span></div><div class=\"ps7579 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">rate is the discount rate used to discount expected future cash payments or receipts over the expected life </span></div><div class=\"ps6936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">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-545": {
   "value": "<div class=\"ps7684 ss0\"><div class=\"ss613 ws0 ps67\"><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=\"ps37 ss651\"><div><div class=\"ps747 ss358\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8511 ss653\"><div><div class=\"ps41 ss652\"><span class=\"f charStyle-281247bf ps8510\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8512 ss653\"><div><div class=\"ps41 ss652\"><span class=\"f charStyle-054ead99 ps8510\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps1985 ss653\"><div><div class=\"ps41 ss652\"><span class=\"f charStyle-054ead99 ps8510\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps43 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-1bac868e ps630\">Foreign currency gain<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8514 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">5,784</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8515 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">1,511</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8517 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8516\">109</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps631 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-1bac868e ps630\">Fair value change of derivative (ineffectiveness)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8519 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.47pt\"></span></span><span class=\"ps8518\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8520 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8516\">428</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8521 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.47pt\"></span></span><span class=\"ps8518\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5277 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-1bac868e ps630\">Interest income<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8522 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">1,714</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8523 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">3,294</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8524 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">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=\"ps2081 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-b07b4361 ps39\">Financial income<span class=\"f ps40\"> </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 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8525\">7,498</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8527 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8525\">5,233</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8528 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8525\">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-544": {
   "value": "<div class=\"ps7684 ss0\"><div class=\"ss613 ws0 ps67\"><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=\"ps37 ss651\"><div><div class=\"ps747 ss358\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8511 ss653\"><div><div class=\"ps41 ss652\"><span class=\"f charStyle-281247bf ps8510\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8512 ss653\"><div><div class=\"ps41 ss652\"><span class=\"f charStyle-054ead99 ps8510\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps1985 ss653\"><div><div class=\"ps41 ss652\"><span class=\"f charStyle-054ead99 ps8510\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps43 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-1bac868e ps630\">Foreign currency gain<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8514 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">5,784</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8515 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">1,511</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8517 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8516\">109</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps631 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-1bac868e ps630\">Fair value change of derivative (ineffectiveness)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8519 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.47pt\"></span></span><span class=\"ps8518\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8520 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8516\">428</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8521 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.47pt\"></span></span><span class=\"ps8518\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5277 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-1bac868e ps630\">Interest income<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8522 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">1,714</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8523 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">3,294</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8524 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">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=\"ps2081 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-b07b4361 ps39\">Financial income<span class=\"f ps40\"> </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 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8525\">7,498</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8527 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8525\">5,233</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8528 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8525\">1,541</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps8550 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Total interest paid in </span><span class=\"f charStyle-c1b8f9f6 ps8542\">2025</span><span class=\"f charStyle-c1b8f9f6 ps8543\"> as per Consolidated Statement of Cash Flows amounts to </span><span class=\"f charStyle-c1b8f9f6 ps8544\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8545\"> </span><span class=\"f charStyle-c1b8f9f6 ps8546\">56 million</span><span class=\"f charStyle-c1b8f9f6 ps8547\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8548\">2024</span><span class=\"f charStyle-c1b8f9f6 ps8549\">: </span></div><div class=\"ps7608 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">19.7 million</span><span class=\"f charStyle-c1b8f9f6 ps8551\">; </span><span class=\"f charStyle-c1b8f9f6 ps8552\">2023</span><span class=\"f charStyle-c1b8f9f6 ps7191\">: </span><span class=\"f charStyle-c1b8f9f6 ps8553\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8554\"> </span><span class=\"f charStyle-c1b8f9f6 ps8555\">7.1 million</span><span class=\"f charStyle-c1b8f9f6 ps8556\">) and has primarily </span><span class=\"f charStyle-c1b8f9f6 ps8557\">been capitalised to Property, Plant and Equipment. </span></div><div class=\"ps8566 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">For further information refer to </span><span class=\"f charStyle-c1b8f9f6 ps8558\">Note 13. </span><span class=\"f charStyle-c1b8f9f6 ps8559\">Interest linked to debt liabilities include </span><span class=\"f charStyle-c1b8f9f6 ps8560\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8561\"> </span><span class=\"f charStyle-c1b8f9f6 ps8562\">2.4 million</span><span class=\"f charStyle-c1b8f9f6 ps8563\"> in </span><span class=\"f charStyle-c1b8f9f6 ps8564\">2024</span><span class=\"f charStyle-c1b8f9f6 ps8565\"> and </span></div><div class=\"ps8570 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">1.9\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8567\"> in </span><span class=\"f charStyle-c1b8f9f6 ps8568\">2023</span><span class=\"f charStyle-c1b8f9f6 ps8569\"> relating to the write off of loan fees associated with previous debt facilities. In </span></div><div class=\"ps8575 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">addition, in 2023, </span><span class=\"f charStyle-c1b8f9f6 ps8571\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8572\"> </span><span class=\"f charStyle-c1b8f9f6 ps8573\">1.0\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8574\"> relates to the amendment of a prior debt facility in June 2023.</span></div><div class=\"ps6921 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Accounting policies<span id=\"i87a40683dcc746a6b776ffeef0cb9094\"></span></span></div><div class=\"ps6924 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Finance income and expenses comprise interest income and expenses, as well as realised and unrealised </span></div><div class=\"ps6926 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">exchange rate gains and losses on transactions denominated in foreign currencies, together with fair value </span></div><div class=\"ps2788 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">adjustments related to the ineffective portion of financial instruments.</span></div><div class=\"ps7578 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Interest income and interest expenses are recognised using the effective interest rate. The effective interest </span></div><div class=\"ps7579 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">rate is the discount rate used to discount expected future cash payments or receipts over the expected life </span></div><div class=\"ps6936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">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-546": {
   "value": "<div class=\"ps8541 ss0\"><div class=\"ss613 ws0 ps67\"><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=\"ps37 ss651\"><div><div class=\"ps747 ss358\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8511 ss653\"><div><div class=\"ps41 ss652\"><span class=\"f charStyle-281247bf ps8510\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8512 ss653\"><div><div class=\"ps41 ss652\"><span class=\"f charStyle-054ead99 ps8510\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps1985 ss653\"><div><div class=\"ps41 ss652\"><span class=\"f charStyle-054ead99 ps8510\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps43 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-1bac868e ps630\">Interest linked to debt liabilities<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8514 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.27pt\"></span></span><span class=\"ps6065\">21,209</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8515 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">2,368</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8517 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">2,851</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps631 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-1bac868e ps630\">Guarantee charges<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8519 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8516\">994</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8520 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8516\">581</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8521 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.47pt\"></span></span><span class=\"ps8518\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5277 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-1bac868e ps630\">Fair value change of derivative (ineffectiveness)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8522 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">1,577</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8523 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.47pt\"></span></span><span class=\"ps8518\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8524 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8516\">765</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps2081 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-1bac868e ps630\">Lease liabilities<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8526 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8516\">746</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8527 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8516\">428</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8528 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:45.77pt\"></span></span><span class=\"ps8530\">25</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps767 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-1bac868e ps630\">Foreign currency loss<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8531 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.27pt\"></span></span><span class=\"ps6065\">10,877</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8532 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">3,322</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8533 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8516\">389</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5162 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-1bac868e ps630\">Bank fees<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8534 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.12pt\"></span></span><span class=\"ps8513\">1,974</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8535 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8516\">501</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8536 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.92pt\"></span></span><span class=\"ps8516\">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=\"ps7710 ss359\"><div><div class=\"ps435 ss358\"><span class=\"f charStyle-b07b4361 ps39\">Financial expenses<span class=\"f ps40\"> </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=\"ps8538 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.19pt\"></span></span><span class=\"ps8537\">37,377</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8539 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8525\">7,200</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8540 ss654\"><div><div class=\"ps435 ss652\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.36pt\"></span></span><span class=\"ps8525\">4,486</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps8550 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Total interest paid in </span><span class=\"f charStyle-c1b8f9f6 ps8542\">2025</span><span class=\"f charStyle-c1b8f9f6 ps8543\"> as per Consolidated Statement of Cash Flows amounts to </span><span class=\"f charStyle-c1b8f9f6 ps8544\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8545\"> </span><span class=\"f charStyle-c1b8f9f6 ps8546\">56 million</span><span class=\"f charStyle-c1b8f9f6 ps8547\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8548\">2024</span><span class=\"f charStyle-c1b8f9f6 ps8549\">: </span></div><div class=\"ps7608 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">19.7 million</span><span class=\"f charStyle-c1b8f9f6 ps8551\">; </span><span class=\"f charStyle-c1b8f9f6 ps8552\">2023</span><span class=\"f charStyle-c1b8f9f6 ps7191\">: </span><span class=\"f charStyle-c1b8f9f6 ps8553\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8554\"> </span><span class=\"f charStyle-c1b8f9f6 ps8555\">7.1 million</span><span class=\"f charStyle-c1b8f9f6 ps8556\">) and has primarily </span><span class=\"f charStyle-c1b8f9f6 ps8557\">been capitalised to Property, Plant and Equipment. </span></div><div class=\"ps8566 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">For further information refer to </span><span class=\"f charStyle-c1b8f9f6 ps8558\">Note 13. </span><span class=\"f charStyle-c1b8f9f6 ps8559\">Interest linked to debt liabilities include </span><span class=\"f charStyle-c1b8f9f6 ps8560\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8561\"> </span><span class=\"f charStyle-c1b8f9f6 ps8562\">2.4 million</span><span class=\"f charStyle-c1b8f9f6 ps8563\"> in </span><span class=\"f charStyle-c1b8f9f6 ps8564\">2024</span><span class=\"f charStyle-c1b8f9f6 ps8565\"> and </span></div><div class=\"ps8570 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">1.9\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8567\"> in </span><span class=\"f charStyle-c1b8f9f6 ps8568\">2023</span><span class=\"f charStyle-c1b8f9f6 ps8569\"> relating to the write off of loan fees associated with previous debt facilities. In </span></div><div class=\"ps8575 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">addition, in 2023, </span><span class=\"f charStyle-c1b8f9f6 ps8571\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8572\"> </span><span class=\"f charStyle-c1b8f9f6 ps8573\">1.0\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8574\"> relates to the amendment of a prior debt facility in June 2023.</span></div><div class=\"ps6921 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Accounting policies<span id=\"i87a40683dcc746a6b776ffeef0cb9094\"></span></span></div><div class=\"ps6924 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Finance income and expenses comprise interest income and expenses, as well as realised and unrealised </span></div><div class=\"ps6926 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">exchange rate gains and losses on transactions denominated in foreign currencies, together with fair value </span></div><div class=\"ps2788 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">adjustments related to the ineffective portion of financial instruments.</span></div><div class=\"ps7578 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Interest income and interest expenses are recognised using the effective interest rate. The effective interest </span></div><div class=\"ps7579 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">rate is the discount rate used to discount expected future cash payments or receipts over the expected life </span></div><div class=\"ps6936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">of a financial asset or financial liability to the amortised cost (carrying amount) of such asset or liability.</span></div><div class=\"ps9613 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Leas interest expenses recognised in profit and loss </span></div><div class=\"ps9614 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps183\">1.<span class=\"f ps40\"> </span></span><span class=\"f charStyle-4ecd4cad ps1761\">Interest expense</span></div><div class=\"ps9618 ss0\"><div class=\"ss193 ws0 ps67\"><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=\"ps37 ss700\"><div><div class=\"ps6200 ss697\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9576 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-281247bf ps3737\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9577 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-054ead99 ps3737\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5310 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-054ead99 ps3737\">2023<span class=\"f ps40\"> </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=\"ps4293 ss702\"><div><div class=\"ps8719 ss697\"><span class=\"f charStyle-1bac868e ps630\">Interest expense on lease liabilities (vessels <span class=\"f ps40\"> </span></span></div><div class=\"ps8720 ss697\"><span class=\"f charStyle-1bac868e ps630\">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=\"ps9615 ss703\"><div><div class=\"ps8720 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">746</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9616 ss703\"><div><div class=\"ps8720 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">428</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9617 ss703\"><div><div class=\"ps8720 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.27pt\"></span></span><span class=\"ps9590\">25</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps4213 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps183\">1.<span class=\"f ps40\"> </span></span><span class=\"f charStyle-4ecd4cad ps1761\">Lease expense not capitalised in lease liabilities</span></div><div class=\"ps9619 ss0\"><div class=\"ss193 ws0 ps67\"><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=\"ps37 ss700\"><div><div class=\"ps6200 ss697\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9576 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-281247bf ps3737\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9577 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-054ead99 ps3737\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5310 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-054ead99 ps3737\">2023<span class=\"f ps40\"> </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=\"ps4293 ss704\"><div><div class=\"ps41 ss697\"><span class=\"f charStyle-1bac868e ps630\">Short-term lease expense<span class=\"f ps40\"> </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=\"ps9615 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">614</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9616 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">477</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9617 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">180</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6947 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Total cas</span><span class=\"f charStyle-c1b8f9f6 ps9620\">h ou</span><span class=\"f charStyle-c1b8f9f6 ps9621\">tflow for all leases in </span><span class=\"f charStyle-c1b8f9f6 ps9622\">2025</span><span class=\"f charStyle-c1b8f9f6 ps9623\">, </span><span class=\"f charStyle-c1b8f9f6 ps9624\">2024</span><span class=\"f charStyle-c1b8f9f6 ps9625\"> and </span><span class=\"f charStyle-c1b8f9f6 ps9626\">2023</span><span class=\"f charStyle-c1b8f9f6 ps9627\"> were</span><span class=\"f charStyle-c1b8f9f6 ps9628\"> </span><span class=\"f charStyle-c1b8f9f6 ps9629\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9630\"> </span><span class=\"f charStyle-c1b8f9f6 ps9631\">2,686</span><span class=\"f charStyle-c1b8f9f6 ps9632\"> thousand</span><span class=\"f charStyle-c1b8f9f6 ps9633\">, </span><span class=\"f charStyle-c1b8f9f6 ps9634\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9635\"> </span><span class=\"f charStyle-c1b8f9f6 ps9636\">1,152\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps9637\"> and </span></div><div class=\"ps9641 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">283\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps9638\"> respectively, excluding variable lease fee (refer to </span><span class=\"f charStyle-c1b8f9f6 ps9639\">Note 24). Please refer to Note 28</span><span class=\"f charStyle-c1b8f9f6 ps9640\"> 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-548": {
   "value": "<div class=\"ps6921 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Accounting policies<span id=\"i87a40683dcc746a6b776ffeef0cb9094\"></span></span></div><div class=\"ps6924 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Finance income and expenses comprise interest income and expenses, as well as realised and unrealised </span></div><div class=\"ps6926 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">exchange rate gains and losses on transactions denominated in foreign currencies, together with fair value </span></div><div class=\"ps2788 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">adjustments related to the ineffective portion of financial instruments.</span></div><div class=\"ps7578 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Interest income and interest expenses are recognised using the effective interest rate. The effective interest </span></div><div class=\"ps7579 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">rate is the discount rate used to discount expected future cash payments or receipts over the expected life </span></div><div class=\"ps6936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">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-547": {
   "value": "<div class=\"ps6921 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Accounting policies<span id=\"i87a40683dcc746a6b776ffeef0cb9094\"></span></span></div><div class=\"ps6924 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Finance income and expenses comprise interest income and expenses, as well as realised and unrealised </span></div><div class=\"ps6926 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">exchange rate gains and losses on transactions denominated in foreign currencies, together with fair value </span></div><div class=\"ps2788 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">adjustments related to the ineffective portion of financial instruments.</span></div><div class=\"ps7578 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Interest income and interest expenses are recognised using the effective interest rate. The effective interest </span></div><div class=\"ps7579 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">rate is the discount rate used to discount expected future cash payments or receipts over the expected life </span></div><div class=\"ps6936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">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-549": {
   "value": "<div class=\"ps6921 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Accounting policies<span id=\"i87a40683dcc746a6b776ffeef0cb9094\"></span></span></div><div class=\"ps6924 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Finance income and expenses comprise interest income and expenses, as well as realised and unrealised </span></div><div class=\"ps6926 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">exchange rate gains and losses on transactions denominated in foreign currencies, together with fair value </span></div><div class=\"ps2788 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">adjustments related to the ineffective portion of financial instruments.</span></div><div class=\"ps9646 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Lease liabilities<span id=\"i906fb04c707e4a55b0265cca42759d6e\"></span></span></div><div class=\"ps2688 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">At the inception of a contract, the Group assesses whether the contract contains a lease. A contract contains </span></div><div class=\"ps2689 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">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=\"ps2690 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">consideration. Reassessment is required only when the terms and conditions of the contract are changed.</span></div><div class=\"ps6997 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">At the commencement date of the lease, the Group recognises lease liabilities measured at the present </span></div><div class=\"ps9296 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">value of lease payments to be made over the lease term. The lease payments include fixed payments </span></div><div class=\"ps9302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">(including in-substance fixed payments) less any lease incentives receivable, variable lease payments that </span></div><div class=\"ps9307 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">depend on an index or a rate, and amounts expected to be paid under residual value guarantees.</span></div><div class=\"ps2992 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Variable lease payments that do not depend on an index or a rate are recognised as expenses in the period </span></div><div class=\"ps2993 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">in which the event or condition that triggers the payment occurs. Utilisation based lease fees are classified <span class=\"f ps40\"> </span></span></div><div class=\"ps2994 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">as variable lease payments.</span></div><div class=\"ps2995 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the </span></div><div class=\"ps2996 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">lease commencement date, as the interest rate implicit in the lease is not readily determinable. After the </span></div><div class=\"ps2997 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">commencement date, the carrying amount of lease liabilities is increased to reflect the accretion of interest </span></div><div class=\"ps2998 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">and reduced by lease payments made.</span></div><div class=\"ps2999 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the </span></div><div class=\"ps3000 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an </span></div><div class=\"ps3127 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">index or rate used to determine such lease payments) or a change in the assessment of an option to </span></div><div class=\"ps3128 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">purchase the underlying asset.</span></div><div class=\"ps9651 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Short-term and low-value leases<span id=\"i47c0a14c77d249589203643c44fd375a\"></span></span></div><div class=\"ps9652 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group has elected not to recognise right-of-use assets and lease liabilities for short-term leases with </span></div><div class=\"ps9382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">lease terms of </span><span class=\"f charStyle-c1b8f9f6 ps7528\">twelve months</span><span class=\"f charStyle-c1b8f9f6 ps9653\"> or less, and for low-value leases. Lease payments relating to these leases are </span></div><div class=\"ps9383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">expensed to profit or loss on a straight-line basis over the lease term. Short-term and low-value leases </span></div><div class=\"ps9384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">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-550": {
   "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 ps183\">Note 10</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Income Taxes<span id=\"iba8f20d7abd3475890689ddbd078cf43\"></span></span></div><div class=\"ps7684 ss0\"><div class=\"ss238 ws0 ps67\"><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=\"ps37 ss656\"><div><div class=\"ps747 ss655\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8588 ss489\"><div><div class=\"ps41 ss487\"><span class=\"f charStyle-281247bf ps8587\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2574 ss489\"><div><div class=\"ps41 ss487\"><span class=\"f charStyle-054ead99 ps8587\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6049 ss489\"><div><div class=\"ps41 ss487\"><span class=\"f charStyle-054ead99 ps8587\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps43 ss657\"><div><div class=\"ps4441 ss655\"><span class=\"f charStyle-b07b4361 ps39\">Income tax expense<span class=\"f ps40\"> </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=\"ps631 ss657\"><div><div class=\"ps4441 ss655\"><span class=\"f charStyle-b07b4361 ps39\">Tax expense attributable to profit is made up of:<span class=\"f ps40\"> </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=\"ps5277 ss657\"><div><div class=\"ps4441 ss655\"><span class=\"f charStyle-1bac868e ps630\">Current tax<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8590 ss658\"><div><div class=\"ps4441 ss487\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.95pt\"></span></span><span class=\"ps8589\">(6,396)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8591 ss658\"><div><div class=\"ps4441 ss487\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.95pt\"></span></span><span class=\"ps8589\">(1,271)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7700 ss658\"><div><div class=\"ps4441 ss487\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.72pt\"></span></span><span class=\"ps8592\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2081 ss657\"><div><div class=\"ps4441 ss655\"><span class=\"f charStyle-1bac868e ps630\">Movement on deferred tax<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8593 ss658\"><div><div class=\"ps4441 ss487\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.95pt\"></span></span><span class=\"ps8589\">(1,284)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8594 ss658\"><div><div class=\"ps4441 ss487\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.95pt\"></span></span><span class=\"ps8589\">(1,137)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7703 ss658\"><div><div class=\"ps4441 ss487\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.72pt\"></span></span><span class=\"ps8592\">\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=\"ps767 ss657\"><div><div class=\"ps4441 ss655\"><span class=\"f charStyle-b07b4361 ps39\">Total Income tax expense<span class=\"f ps40\"> </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=\"ps8596 ss658\"><div><div class=\"ps4441 ss487\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.97pt\"></span></span><span class=\"ps8595\">(7,680)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8597 ss658\"><div><div class=\"ps4441 ss487\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.97pt\"></span></span><span class=\"ps8595\">(2,408)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7706 ss658\"><div><div class=\"ps4441 ss487\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.72pt\"></span></span><span class=\"ps8592\">\u2014</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps8598 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Tax expenses comprise the expected income tax charge for the year in accordance with IAS 12. </span></div><div class=\"ps8599 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The tax base of the Group\u2019s vessel assets are held by wholly owned subsidiaries located in Cyprus, UK and </span></div><div class=\"ps8600 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Japan. Besides Japan, vessel owning entities and their corresponding Fleet Manager entities operate within </span></div><div class=\"ps8601 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">tonnage tax regimes in Denmark, Cyprus and the United Kingdom, pursuant to which in-scope entities pay a </span></div><div class=\"ps8602 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">fixed amount per net ton at their disposal, rather than income being taxed under a conventional corporate </span></div><div class=\"ps8603 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">tax regime. Cyprus owned vessels participate in dual tonnage tax schemes, with Denmark as Danish Fleet </span></div><div class=\"ps4897 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Manager and Cyprus as Danish Fleet Owner. From 1st January 2025 UK vessel owning entities and the UK </span></div><div class=\"ps8604 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Fleet Manager entity participate in the UK tonnage tax scheme. </span></div><div class=\"ps8611 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The total recorded tonnage tax expense for </span><span class=\"f charStyle-c1b8f9f6 ps8605\">2025</span><span class=\"f charStyle-c1b8f9f6 ps8606\"> in Denmark, UK and Cyprus amount to </span><span class=\"f charStyle-c1b8f9f6 ps8607\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8608\"> </span><span class=\"f charStyle-c1b8f9f6 ps8609\">34</span><span class=\"f charStyle-c1b8f9f6 ps8610\"> thousand, </span></div><div class=\"ps8633 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">48</span><span class=\"f charStyle-c1b8f9f6 ps8612\"> thousand and</span><span class=\"f charStyle-c1b8f9f6 ps8613\"> </span><span class=\"f charStyle-c1b8f9f6 ps8614\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8615\"> </span><span class=\"f charStyle-c1b8f9f6 ps8616\">11\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8617\"> </span><span class=\"f charStyle-c1b8f9f6 ps8618\">respectively</span><span class=\"f charStyle-c1b8f9f6 ps8619\"> (</span><span class=\"f charStyle-c1b8f9f6 ps8620\">2024</span><span class=\"f charStyle-c1b8f9f6 ps8621\"> and </span><span class=\"f charStyle-c1b8f9f6 ps8622\">2023</span><span class=\"f charStyle-c1b8f9f6 ps8623\">:</span><span class=\"f charStyle-c1b8f9f6 ps8624\"> </span><span class=\"f charStyle-c1b8f9f6 ps8625\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8626\"> </span><span class=\"f charStyle-c1b8f9f6 ps8627\">0\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8628\"> in Denmark</span><span class=\"f charStyle-c1b8f9f6 ps8629\"> </span><span class=\"f charStyle-c1b8f9f6 ps8630\">and </span><span class=\"f charStyle-c1b8f9f6 ps8631\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8632\"> </span></div><div class=\"ps7005 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">5\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8634\"> in Cyprus</span><span class=\"f charStyle-c1b8f9f6 ps8635\">, UK tonnage tax effective from 2025).</span></div><div class=\"ps8636 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In addition, certain of Cadeler\u2019s subsidiaries are resident for taxation purposes in the United Kingdom or </span></div><div class=\"ps8637 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">other foreign jurisdictions that are outside the scope of the tonnage tax ring-fence. These entities are </span></div><div class=\"ps8638 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">subject to their local corporation tax regimes based on their taxable income. </span></div><div class=\"ps8639 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group routinely evaluates its exposure to local income taxes (Permanent Establishments) relating to its </span></div><div class=\"ps8640 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">foreign operations which can also result in additional current foreign taxes.</span></div><div class=\"ps7183 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The Group continues to assess the potential impact of the Pillar Two rules on future reporting periods. Refer </span></div><div class=\"ps7184 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">to </span><span class=\"f charStyle-c1b8f9f6 ps8641\">Note 2</span><span class=\"f charStyle-c1b8f9f6 ps8642\"> for further details.</span></div><div class=\"ps8675 ss0\"><div class=\"ss238 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=\"ps37 ss656\"><div><div class=\"ps747 ss655\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8588 ss489\"><div><div class=\"ps41 ss487\"><span class=\"f charStyle-281247bf ps8587\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2574 ss489\"><div><div class=\"ps41 ss487\"><span class=\"f charStyle-054ead99 ps8587\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6049 ss489\"><div><div class=\"ps41 ss487\"><span class=\"f charStyle-054ead99 ps8587\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps43 ss657\"><div><div class=\"ps4441 ss655\"><span class=\"f charStyle-b07b4361 ps39\">Effective tax rate<span class=\"f ps40\"> </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=\"ps631 ss657\"><div><div class=\"ps4441 ss655\"><span class=\"f charStyle-1bac868e ps630\">Profit before income tax<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8644 ss658\"><div><div class=\"ps4441 ss487\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:17.67pt\"></span></span><span class=\"ps8643\">287,864</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8646 ss658\"><div><div class=\"ps4441 ss487\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.52pt\"></span></span><span class=\"ps8645\">67,477</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7695 ss658\"><div><div class=\"ps4441 ss487\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.52pt\"></span></span><span class=\"ps8645\">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=\"ps5277 ss657\"><div><div class=\"ps71 ss655\"><span class=\"f charStyle-1bac868e ps630\"> Tax at Corporate Tax rate (22%) <span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8590 ss658\"><div><div class=\"ps4441 ss487\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.52pt\"></span></span><span class=\"ps8645\">63,330</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8591 ss658\"><div><div class=\"ps4441 ss487\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.52pt\"></span></span><span class=\"ps8645\">14,845</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7700 ss658\"><div><div class=\"ps4441 ss487\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.37pt\"></span></span><span class=\"ps6521\">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=\"ps2081 ss657\"><div><div class=\"ps4441 ss655\"><span class=\"f charStyle-b07b4361 ps39\">Effects of:<span class=\"f ps40\"> </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=\"ps767 ss656\"><div><div class=\"ps41 ss655\"><span class=\"f charStyle-1bac868e ps630\"> Income not taxable/impact of tonnage tax regime <span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8596 ss489\"><div><div class=\"ps41 ss487\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:17.1pt\"></span></span><span class=\"ps8648\">(73,214)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8597 ss489\"><div><div class=\"ps41 ss487\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.95pt\"></span></span><span class=\"ps8589\">(9,606)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7706 ss489\"><div><div class=\"ps41 ss487\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.95pt\"></span></span><span class=\"ps8589\">(2,530)</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps2205 ss656\"><div><div class=\"ps41 ss655\"><span class=\"f charStyle-1bac868e ps630\"> Amounts not recognised <span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8649 ss489\"><div><div class=\"ps41 ss487\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.37pt\"></span></span><span class=\"ps6521\">9,055</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8650 ss489\"><div><div class=\"ps41 ss487\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.95pt\"></span></span><span class=\"ps8589\">(6,022)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8651 ss489\"><div><div class=\"ps41 ss487\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.72pt\"></span></span><span class=\"ps8592\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps2016 ss656\"><div><div class=\"ps41 ss655\"><span class=\"f charStyle-1bac868e ps630\"> Deferred tax on consolidation adjustments<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8652 ss489\"><div><div class=\"ps41 ss487\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.17pt\"></span></span><span class=\"ps6542\">577</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8653 ss489\"><div><div class=\"ps41 ss487\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.17pt\"></span></span><span class=\"ps6542\">721</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8654 ss489\"><div><div class=\"ps41 ss487\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.72pt\"></span></span><span class=\"ps8592\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps7294 ss656\"><div><div class=\"ps41 ss655\"><span class=\"f charStyle-1bac868e ps630\"> Adjustment to prior periods - deferred tax <span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8655 ss489\"><div><div class=\"ps41 ss487\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.17pt\"></span></span><span class=\"ps6542\">707</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8656 ss489\"><div><div class=\"ps41 ss487\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.17pt\"></span></span><span class=\"ps6542\">416</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8657 ss489\"><div><div class=\"ps41 ss487\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.72pt\"></span></span><span class=\"ps8592\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps8658 ss656\"><div><div class=\"ps41 ss655\"><span class=\"f charStyle-1bac868e ps630\"> Adjustment to prior periods - current tax <span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8659 ss489\"><div><div class=\"ps41 ss487\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.37pt\"></span></span><span class=\"ps6521\">1,855</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8660 ss489\"><div><div class=\"ps41 ss487\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.02pt\"></span></span><span class=\"ps6519\">74</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8661 ss489\"><div><div class=\"ps41 ss487\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.72pt\"></span></span><span class=\"ps8592\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps4637 ss656\"><div><div class=\"ps41 ss655\"><span class=\"f charStyle-1bac868e ps630\">Impact of overseas taxes<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8662 ss489\"><div><div class=\"ps41 ss487\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.37pt\"></span></span><span class=\"ps6521\">5,370</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8663 ss489\"><div><div class=\"ps41 ss487\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.37pt\"></span></span><span class=\"ps6521\">1,980</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8664 ss489\"><div><div class=\"ps41 ss487\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.72pt\"></span></span><span class=\"ps8592\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2224 ss656\"><div><div class=\"ps41 ss655\"><span class=\"f charStyle-b07b4361 ps39\">Income tax expense, reported<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8666 ss489\"><div><div class=\"ps41 ss487\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.61pt\"></span></span><span class=\"ps8665\">7,680</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8667 ss489\"><div><div class=\"ps41 ss487\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.61pt\"></span></span><span class=\"ps8665\">2,408</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8668 ss489\"><div><div class=\"ps41 ss487\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.72pt\"></span></span><span class=\"ps8592\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps8669 ss656\"><div><div class=\"ps41 ss655\"><span class=\"f charStyle-1bac868e ps630\">Effective tax rate (%)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8672 ss489\"><div><div class=\"ps41 ss487\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps8670\"></span><span class=\"ps8670\">2.7</span><span class=\"ps8671\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8673 ss489\"><div><div class=\"ps41 ss487\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps8670\"></span><span class=\"ps8670\">3.6</span><span class=\"ps8671\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8674 ss489\"><div><div class=\"ps41 ss487\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps8525\"></span><span class=\"ps8525\">\u2014</span><span class=\"ps8671\">%</span></span></div></div></div></td></tr></tbody></table></div></div></div></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies<span id=\"iaa5bb185da4f4e46bcc0ee0c55850511\"></span></span></div><div class=\"ps8676 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Income tax<span id=\"i3f81635efec443248fde029ce6605cb5\"></span></span></div><div class=\"ps8677 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Current income tax for current and prior periods is recognised at the </span></div><div class=\"ps8678 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">amount expected to be paid to or recovered from the tax authorities, </span></div><div class=\"ps8679 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">using the tax rates and tax laws that have been enacted or </span></div><div class=\"ps8680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">substantively enacted at the balance sheet date.</span></div><div class=\"ps8681 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Management periodically evaluates positions taken in tax returns in </span></div><div class=\"ps8682 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">situations where applicable tax regulation is subject to interpretation. </span></div><div class=\"ps8683 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">It establishes provisions, where appropriate, based on amounts </span></div><div class=\"ps8684 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">expected to be paid to the tax authorities.</span></div><div class=\"ps3200 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Deferred income tax is recognised for all temporary differences </span></div><div class=\"ps8685 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">arising between the tax bases of assets and liabilities and their </span></div><div class=\"ps8686 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">carrying amounts in the financial statements. An exception applies </span></div><div class=\"ps8687 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">where the deferred tax arises from the initial recognition of an asset </span></div><div class=\"ps8688 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">or liability in a transaction that is not a business combination and, at </span></div><div class=\"ps8689 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the time of the transaction, affects neither accounting profit nor </span></div><div class=\"ps8690 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">taxable profit or loss and does not give rise to equal taxable and </span></div><div class=\"ps8691 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">deductible temporary differences.</span></div><div class=\"ps8692 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Deferred income tax is measured at the tax rates expected to apply </span></div><div class=\"ps8693 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">when the related deferred income tax asset is realised or the deferred </span></div><div class=\"ps8694 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">income tax liability is settled, based on tax rates and tax laws that </span></div><div class=\"ps8695 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">have been enacted or substantively enacted at the balance sheet </span></div><div class=\"ps8696 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">date.</span></div><div class=\"ps8697 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Current and deferred income taxes are recognised as income or </span></div><div class=\"ps8698 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">expenses in profit or loss, except to the extent that the tax arises from </span></div><div class=\"ps8699 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">a transaction that is recognised directly in equity.</span></div><div class=\"ps8676 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps879\">Tonnage tax<span id=\"i1e48f8d893844d02ad3e8abca1bccee5\"></span></span></div><div class=\"ps8677 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">Under the scheme, ship-owners (or bareboat charterers) pay a fixed </span></div><div class=\"ps8678 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">tax amount per net tonne at their disposal rather than paying taxes </span></div><div class=\"ps8679 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">based on taxable income, expenses, and depreciation. The Group has </span></div><div class=\"ps8680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">participated in the Danish scheme since 27 November 2020 and </span></div><div class=\"ps8701 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">joined the UK tonnage tax scheme, effective January 2025.</span></div><div class=\"ps8682 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">As the vessels are owned and registered by subsidiaries in </span></div><div class=\"ps8683 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">jurisdictions other than Denmark, the Group is also subject to </span></div><div class=\"ps8684 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">tonnage taxation in those jurisdictions. Such tonnage taxation is </span></div><div class=\"ps8702 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">calculated based on a fixed tax amount per tonne.</span></div><div class=\"ps8685 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">As this scheme is based on a notional income derived from tonnage </span></div><div class=\"ps8686 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">capacity and not based on the entities' actual income and expenses, </span></div><div class=\"ps8687 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">the Group does not consider the scheme to fall under the scope of </span></div><div class=\"ps8688 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">IAS 12. Consequently, tonnage tax expenses are not presented as part </span></div><div class=\"ps8689 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">of tax expense in the statement of profit and loss, but are recognised </span></div><div class=\"ps8690 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">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-551": {
   "value": "<div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies<span id=\"iaa5bb185da4f4e46bcc0ee0c55850511\"></span></span></div><div class=\"ps8676 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Income tax<span id=\"i3f81635efec443248fde029ce6605cb5\"></span></span></div><div class=\"ps8677 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Current income tax for current and prior periods is recognised at the </span></div><div class=\"ps8678 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">amount expected to be paid to or recovered from the tax authorities, </span></div><div class=\"ps8679 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">using the tax rates and tax laws that have been enacted or </span></div><div class=\"ps8680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">substantively enacted at the balance sheet date.</span></div><div class=\"ps8681 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Management periodically evaluates positions taken in tax returns in </span></div><div class=\"ps8682 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">situations where applicable tax regulation is subject to interpretation. </span></div><div class=\"ps8683 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">It establishes provisions, where appropriate, based on amounts </span></div><div class=\"ps8684 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">expected to be paid to the tax authorities.</span></div><div class=\"ps3200 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Deferred income tax is recognised for all temporary differences </span></div><div class=\"ps8685 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">arising between the tax bases of assets and liabilities and their </span></div><div class=\"ps8686 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">carrying amounts in the financial statements. An exception applies </span></div><div class=\"ps8687 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">where the deferred tax arises from the initial recognition of an asset </span></div><div class=\"ps8688 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">or liability in a transaction that is not a business combination and, at </span></div><div class=\"ps8689 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the time of the transaction, affects neither accounting profit nor </span></div><div class=\"ps8690 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">taxable profit or loss and does not give rise to equal taxable and </span></div><div class=\"ps8691 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">deductible temporary differences.</span></div><div class=\"ps8692 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Deferred income tax is measured at the tax rates expected to apply </span></div><div class=\"ps8693 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">when the related deferred income tax asset is realised or the deferred </span></div><div class=\"ps8694 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">income tax liability is settled, based on tax rates and tax laws that </span></div><div class=\"ps8695 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">have been enacted or substantively enacted at the balance sheet </span></div><div class=\"ps8696 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">date.</span></div><div class=\"ps8697 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Current and deferred income taxes are recognised as income or </span></div><div class=\"ps8698 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">expenses in profit or loss, except to the extent that the tax arises from </span></div><div class=\"ps8699 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">a transaction that is recognised directly in equity.</span></div><div class=\"ps8676 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps879\">Tonnage tax<span id=\"i1e48f8d893844d02ad3e8abca1bccee5\"></span></span></div><div class=\"ps8677 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">Under the scheme, ship-owners (or bareboat charterers) pay a fixed </span></div><div class=\"ps8678 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">tax amount per net tonne at their disposal rather than paying taxes </span></div><div class=\"ps8679 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">based on taxable income, expenses, and depreciation. The Group has </span></div><div class=\"ps8680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">participated in the Danish scheme since 27 November 2020 and </span></div><div class=\"ps8701 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">joined the UK tonnage tax scheme, effective January 2025.</span></div><div class=\"ps8682 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">As the vessels are owned and registered by subsidiaries in </span></div><div class=\"ps8683 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">jurisdictions other than Denmark, the Group is also subject to </span></div><div class=\"ps8684 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">tonnage taxation in those jurisdictions. Such tonnage taxation is </span></div><div class=\"ps8702 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">calculated based on a fixed tax amount per tonne.</span></div><div class=\"ps8685 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">As this scheme is based on a notional income derived from tonnage </span></div><div class=\"ps8686 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">capacity and not based on the entities' actual income and expenses, </span></div><div class=\"ps8687 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">the Group does not consider the scheme to fall under the scope of </span></div><div class=\"ps8688 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">IAS 12. Consequently, tonnage tax expenses are not presented as part </span></div><div class=\"ps8689 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">of tax expense in the statement of profit and loss, but are recognised </span></div><div class=\"ps8690 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">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-553": {
   "value": "<div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies<span id=\"iaa5bb185da4f4e46bcc0ee0c55850511\"></span></span></div><div class=\"ps8676 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Income tax<span id=\"i3f81635efec443248fde029ce6605cb5\"></span></span></div><div class=\"ps8677 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Current income tax for current and prior periods is recognised at the </span></div><div class=\"ps8678 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">amount expected to be paid to or recovered from the tax authorities, </span></div><div class=\"ps8679 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">using the tax rates and tax laws that have been enacted or </span></div><div class=\"ps8680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">substantively enacted at the balance sheet date.</span></div><div class=\"ps8681 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Management periodically evaluates positions taken in tax returns in </span></div><div class=\"ps8682 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">situations where applicable tax regulation is subject to interpretation. </span></div><div class=\"ps8683 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">It establishes provisions, where appropriate, based on amounts </span></div><div class=\"ps8684 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">expected to be paid to the tax authorities.</span></div><div class=\"ps3200 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Deferred income tax is recognised for all temporary differences </span></div><div class=\"ps8685 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">arising between the tax bases of assets and liabilities and their </span></div><div class=\"ps8686 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">carrying amounts in the financial statements. An exception applies </span></div><div class=\"ps8687 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">where the deferred tax arises from the initial recognition of an asset </span></div><div class=\"ps8688 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">or liability in a transaction that is not a business combination and, at </span></div><div class=\"ps8689 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the time of the transaction, affects neither accounting profit nor </span></div><div class=\"ps8690 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">taxable profit or loss and does not give rise to equal taxable and </span></div><div class=\"ps8691 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">deductible temporary differences.</span></div><div class=\"ps8692 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Deferred income tax is measured at the tax rates expected to apply </span></div><div class=\"ps8693 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">when the related deferred income tax asset is realised or the deferred </span></div><div class=\"ps8694 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">income tax liability is settled, based on tax rates and tax laws that </span></div><div class=\"ps8695 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">have been enacted or substantively enacted at the balance sheet </span></div><div class=\"ps8696 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">date.</span></div><div class=\"ps8697 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Current and deferred income taxes are recognised as income or </span></div><div class=\"ps8698 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">expenses in profit or loss, except to the extent that the tax arises from </span></div><div class=\"ps8699 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">a transaction that is recognised directly in equity.</span></div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 21</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Deferred Income Taxes<span id=\"i9b19b13e97a24eb488ecc5645a95e3df\"></span></span></div><div class=\"ps10031 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Deferred tax charge<span id=\"i8b4fc2aa7a5646da83d25ab033f3e345\"></span></span></div><div class=\"ps10032 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Deferred tax is recognised in respect of temporary differences between the carrying amounts of assets and </span></div><div class=\"ps10033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">liabilities for financial reporting purposes and the amounts used for income tax purposes, in accordance </span></div><div class=\"ps8168 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">with IAS12. Deferred tax is calculated at the income tax rates expected to apply in the period when the </span></div><div class=\"ps3406 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">liability is settled or the asset is realised, based on tax laws that have been enacted or substantively enacted </span></div><div class=\"ps269 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">at the balance sheet date. The deferred tax is recognised in profit or loss, except when it relates to other </span></div><div class=\"ps8169 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">items recognised in other comprehensive income. </span></div><div class=\"ps8170 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Deferred tax assets and liabilities<span id=\"i6f2bfdde1e38415393b050f698a58c86\"></span></span></div><div class=\"ps10037 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group has unrecognised deferred tax assets in Denmark and the UK, amounting to </span><span class=\"f charStyle-c1b8f9f6 ps10034\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10035\"> </span><span class=\"f charStyle-c1b8f9f6 ps10036\">52</span><span class=\"f charStyle-c1b8f9f6 ps9734\"> millon </span></div><div class=\"ps10054 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">(</span><span class=\"f charStyle-c1b8f9f6 ps829\">31\u00a0December 2024</span><span class=\"f charStyle-c1b8f9f6 ps10038\">: </span><span class=\"f charStyle-c1b8f9f6 ps10039\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10040\"> </span><span class=\"f charStyle-c1b8f9f6 ps10041\">12\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10042\">; 31 December </span><span class=\"f charStyle-c1b8f9f6 ps10043\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10044\">:</span><span class=\"f charStyle-c1b8f9f6 ps10045\"> </span><span class=\"f charStyle-c1b8f9f6 ps10046\">EUR </span><span class=\"f charStyle-c1b8f9f6 ps10047\">13\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10048\">) and </span><span class=\"f charStyle-c1b8f9f6 ps10049\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10050\"> </span><span class=\"f charStyle-c1b8f9f6 ps10051\">52\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10052\"> (</span><span class=\"f charStyle-c1b8f9f6 ps10053\">31\u00a0December </span></div><div class=\"ps10061 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">2024</span><span class=\"f charStyle-c1b8f9f6 ps1129\">: </span><span class=\"f charStyle-c1b8f9f6 ps8020\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8021\"> </span><span class=\"f charStyle-c1b8f9f6 ps8022\">89\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10055\">;</span><span class=\"f charStyle-c1b8f9f6 ps10056\"> 31 December </span><span class=\"f charStyle-c1b8f9f6 ps10057\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10058\">: EUR </span><span class=\"f charStyle-c1b8f9f6 ps10059\">124\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10060\">), respectively. These deferred tax assets arise from </span></div><div class=\"ps10066 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">tax losses and shipping allowances. </span><span class=\"f charStyle-c1b8f9f6 ps10062\">No</span><span class=\"f charStyle-c1b8f9f6 ps10063\"> deferred tax asset has been recognised as of </span><span class=\"f charStyle-c1b8f9f6 ps10064\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10065\">, as </span></div><div class=\"ps10068 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">they are not expected to be utilised within the foreseeable future three to five). </span><span class=\"f charStyle-c1b8f9f6 ps10067\">A majority of the Group\u2019s UK </span></div><div class=\"ps10071 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">unrecognised deferred asset will be forfeited on 1</span><span class=\"f charStyle-a07cfac1 ps10069\"><sup> </sup></span><span class=\"f charStyle-c1b8f9f6 ps10070\">January 2025 as a result of the Group\u2019s UK tonnage tax </span></div><div class=\"ps3223 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">election.</span></div><div class=\"ps7001 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group has a deferred tax liability relating to the ownership of the Wind Zaratan vessel in Japan, arising </span></div><div class=\"ps4735 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">from temporary differences between the carrying amount and the tax base of the vessel (</span><span class=\"f charStyle-c1b8f9f6 ps10072\">2025</span><span class=\"f charStyle-c1b8f9f6 ps10073\">: </span><span class=\"f charStyle-c1b8f9f6 ps10074\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10075\"> </span></div><div class=\"ps7002 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">43\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9070\">; </span><span class=\"f charStyle-c1b8f9f6 ps10076\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10077\">: </span><span class=\"f charStyle-c1b8f9f6 ps10078\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10079\"> </span><span class=\"f charStyle-c1b8f9f6 ps10080\">17\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10081\">;</span><span class=\"f charStyle-c1b8f9f6 ps10082\"> </span><span class=\"f charStyle-c1b8f9f6 ps10083\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10084\">: </span><span class=\"f charStyle-c1b8f9f6 ps10085\">14\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10086\">), offset by the tax value of tax losses (</span><span class=\"f charStyle-c1b8f9f6 ps10087\">2025</span><span class=\"f charStyle-c1b8f9f6 ps10088\">: </span><span class=\"f charStyle-c1b8f9f6 ps10089\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10090\"> </span><span class=\"f charStyle-c1b8f9f6 ps10091\">30\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10092\">; </span></div><div class=\"ps7003 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">2024</span><span class=\"f charStyle-c1b8f9f6 ps1129\">: </span><span class=\"f charStyle-c1b8f9f6 ps8020\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8021\"> </span><span class=\"f charStyle-c1b8f9f6 ps8022\">5\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10093\">;</span><span class=\"f charStyle-c1b8f9f6 ps10094\"> </span><span class=\"f charStyle-c1b8f9f6 ps10095\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10096\">: </span><span class=\"f charStyle-c1b8f9f6 ps10097\">4\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10098\">). As of </span><span class=\"f charStyle-c1b8f9f6 ps10099\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10100\">, deferred tax liabilities amounted to </span><span class=\"f charStyle-c1b8f9f6 ps10101\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10102\"> </span><span class=\"f charStyle-c1b8f9f6 ps10103\">13</span><span class=\"f charStyle-c1b8f9f6 ps10104\"> </span></div><div class=\"ps7004 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">million (2024: </span><span class=\"f charStyle-c1b8f9f6 ps10105\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10106\"> </span><span class=\"f charStyle-c1b8f9f6 ps10107\">12\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10108\">).</span></div><div class=\"ps10110 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">For accounting policies on deferred taxes, please refer to </span><span class=\"f charStyle-c1b8f9f6 ps10109\">Note 10.</span></div><div class=\"ps10133 ss0\"><div class=\"ss176 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=\"ps37 ss660\"><div><div class=\"ps747 ss659\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8705 ss489\"><div><div class=\"ps741 ss487\"><span class=\"f charStyle-281247bf ps8587\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7687 ss489\"><div><div class=\"ps741 ss487\"><span class=\"f charStyle-054ead99 ps8587\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8706 ss489\"><div><div class=\"ps741 ss487\"><span class=\"f charStyle-054ead99 ps8587\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps43 ss663\"><div><div class=\"ps2702 ss659\"><span class=\"f charStyle-b07b4361 ps39\">Reconciliation of deferred tax liabilities, net<span class=\"f ps40\"> </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=\"ps460 ss663\"><div><div class=\"ps2702 ss659\"><span class=\"f charStyle-b07b4361 ps39\">1 January<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10112 ss488\"><div><div class=\"ps2702 ss487\"><span class=\"f charStyle-48c03ae0\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.02pt\"></span></span><span class=\"ps10111\">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=\"ps7733 ss488\"><div><div class=\"ps2702 ss487\"><span class=\"f charStyle-1bac868e\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.19pt\"></span></span><span class=\"ps10113\">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=\"ps10115 ss488\"><div><div class=\"ps2702 ss487\"><span class=\"f charStyle-1bac868e\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.75pt\"></span></span><span class=\"ps10114\">\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=\"ps1804 ss663\"><div><div class=\"ps2702 ss659\"><span class=\"f charStyle-1bac868e ps630\">Acquisition of businesses<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10116 ss488\"><div><div class=\"ps2702 ss487\"><span class=\"f charStyle-48c03ae0\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.75pt\"></span></span><span class=\"ps10114\">\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=\"ps10117 ss488\"><div><div class=\"ps2702 ss487\"><span class=\"f charStyle-1bac868e\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.75pt\"></span></span><span class=\"ps10114\">\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=\"ps10119 ss488\"><div><div class=\"ps2702 ss487\"><span class=\"f charStyle-1bac868e\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.82pt\"></span></span><span class=\"ps10118\">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=\"ps653 ss663\"><div><div class=\"ps2702 ss659\"><span class=\"f charStyle-1bac868e ps630\">Movements during the year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10120 ss488\"><div><div class=\"ps2702 ss487\"><span class=\"f charStyle-48c03ae0\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32pt\"></span></span><span class=\"ps5218\">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=\"ps10122 ss488\"><div><div class=\"ps2702 ss487\"><span class=\"f charStyle-1bac868e\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.76pt\"></span></span><span class=\"ps10121\">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=\"ps10123 ss488\"><div><div class=\"ps2702 ss487\"><span class=\"f charStyle-1bac868e\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.75pt\"></span></span><span class=\"ps10114\">\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=\"ps2892 ss663\"><div><div class=\"ps2702 ss659\"><span class=\"f charStyle-1bac868e ps630\">Exchange differences<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10124 ss488\"><div><div class=\"ps2702 ss487\"><span class=\"f charStyle-48c03ae0\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.75pt\"></span></span><span class=\"ps10114\">\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=\"ps10126 ss488\"><div><div class=\"ps2702 ss487\"><span class=\"f charStyle-1bac868e\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.15pt\"></span></span><span class=\"ps10125\">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=\"ps10128 ss488\"><div><div class=\"ps2702 ss487\"><span class=\"f charStyle-1bac868e\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.28pt\"></span></span><span class=\"ps10127\">(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=\"ps2095 ss663\"><div><div class=\"ps2702 ss659\"><span class=\"f charStyle-b07b4361 ps39\">31 December<span class=\"f ps40\"> </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=\"ps10130 ss488\"><div><div class=\"ps2702 ss487\"><span class=\"f charStyle-48c03ae0\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.45pt\"></span></span><span class=\"ps10129\">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=\"ps10131 ss488\"><div><div class=\"ps2702 ss487\"><span class=\"f charStyle-1bac868e\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.02pt\"></span></span><span class=\"ps10111\">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=\"ps10132 ss488\"><div><div class=\"ps2702 ss487\"><span class=\"f charStyle-1bac868e\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.19pt\"></span></span><span class=\"ps10113\">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-552": {
   "value": "<div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies<span id=\"iaa5bb185da4f4e46bcc0ee0c55850511\"></span></span></div><div class=\"ps8676 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Income tax<span id=\"i3f81635efec443248fde029ce6605cb5\"></span></span></div><div class=\"ps8677 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Current income tax for current and prior periods is recognised at the </span></div><div class=\"ps8678 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">amount expected to be paid to or recovered from the tax authorities, </span></div><div class=\"ps8679 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">using the tax rates and tax laws that have been enacted or </span></div><div class=\"ps8680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">substantively enacted at the balance sheet date.</span></div><div class=\"ps8681 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Management periodically evaluates positions taken in tax returns in </span></div><div class=\"ps8682 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">situations where applicable tax regulation is subject to interpretation. </span></div><div class=\"ps8683 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">It establishes provisions, where appropriate, based on amounts </span></div><div class=\"ps8684 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">expected to be paid to the tax authorities.</span></div><div class=\"ps3200 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Deferred income tax is recognised for all temporary differences </span></div><div class=\"ps8685 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">arising between the tax bases of assets and liabilities and their </span></div><div class=\"ps8686 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">carrying amounts in the financial statements. An exception applies </span></div><div class=\"ps8687 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">where the deferred tax arises from the initial recognition of an asset </span></div><div class=\"ps8688 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">or liability in a transaction that is not a business combination and, at </span></div><div class=\"ps8689 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the time of the transaction, affects neither accounting profit nor </span></div><div class=\"ps8690 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">taxable profit or loss and does not give rise to equal taxable and </span></div><div class=\"ps8691 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">deductible temporary differences.</span></div><div class=\"ps8692 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Deferred income tax is measured at the tax rates expected to apply </span></div><div class=\"ps8693 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">when the related deferred income tax asset is realised or the deferred </span></div><div class=\"ps8694 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">income tax liability is settled, based on tax rates and tax laws that </span></div><div class=\"ps8695 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">have been enacted or substantively enacted at the balance sheet </span></div><div class=\"ps8696 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">date.</span></div><div class=\"ps8697 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Current and deferred income taxes are recognised as income or </span></div><div class=\"ps8698 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">expenses in profit or loss, except to the extent that the tax arises from </span></div><div class=\"ps8699 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">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-554": {
   "value": "<div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 11</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Earnings Per Share (EPS)<span id=\"i1746f29043224393ba19b7f53f1977a8\"></span></span></div><div class=\"ps7183 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The following table reflects the income and share data used in the basic and diluted EPS calculations:</span></div><div class=\"ps8724 ss0\"><div class=\"ss176 ws0 ps67\"><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=\"ps37 ss660\"><div><div class=\"ps747 ss659\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8705 ss489\"><div><div class=\"ps41 ss487\"><span class=\"f charStyle-281247bf ps8587\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7687 ss489\"><div><div class=\"ps41 ss487\"><span class=\"f charStyle-054ead99 ps8587\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8706 ss489\"><div><div class=\"ps41 ss487\"><span class=\"f charStyle-054ead99 ps8587\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:29.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps43 ss661\"><div><div class=\"ps1015 ss659\"><span class=\"f charStyle-b07b4361 ps39\">Profit attributable to ordinary equity holders of the <span class=\"f ps40\"> </span></span></div><div class=\"ps1016 ss659\"><span class=\"f charStyle-b07b4361 ps39\">parent for basic earnings</span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8708 ss662\"><div><div class=\"ps1016 ss487\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.27pt\"></span></span><span class=\"ps8707\">280,184</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8710 ss662\"><div><div class=\"ps1016 ss487\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:20.44pt\"></span></span><span class=\"ps8709\">65,069</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8711 ss662\"><div><div class=\"ps1016 ss487\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:20.44pt\"></span></span><span class=\"ps8709\">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=\"ps2081 ss660\"><div><div class=\"ps747 ss659\"><span class=\"f charStyle-64a4cf84 ps39\">Thousands<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8712 ss489\"><div><div class=\"ps41 ss487\"><span class=\"f charStyle-281247bf ps8587\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7702 ss489\"><div><div class=\"ps41 ss487\"><span class=\"f charStyle-054ead99 ps8587\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8713 ss489\"><div><div class=\"ps41 ss487\"><span class=\"f charStyle-054ead99 ps8587\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2201 ss663\"><div><div class=\"ps5628 ss659\"><span class=\"f charStyle-b07b4361 ps39\">Weighted average number of ordinary shares for basic <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss659\"><span class=\"f charStyle-b07b4361 ps39\">EPS</span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8714 ss488\"><div><div class=\"ps5627 ss487\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.27pt\"></span></span><span class=\"ps8707\">350,508</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8715 ss488\"><div><div class=\"ps5627 ss487\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.27pt\"></span></span><span class=\"ps8707\">345,979</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8716 ss488\"><div><div class=\"ps5627 ss487\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.27pt\"></span></span><span class=\"ps8707\">201,362</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps5162 ss660\"><div><div class=\"ps41 ss659\"><span class=\"f charStyle-1bac868e ps630\">Effect of dilution from share-based payments programme<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8717 ss489\"><div><div class=\"ps41 ss487\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.37pt\"></span></span><span class=\"ps6521\">4,182</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7708 ss489\"><div><div class=\"ps41 ss487\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.17pt\"></span></span><span class=\"ps6542\">980</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8718 ss489\"><div><div class=\"ps41 ss487\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.37pt\"></span></span><span class=\"ps6521\">1,861</span></span></div></div></div></td></tr><tr style=\"height:27pt\"><td style=\"padding:0\"><div class=\"ps2210 ss664\"><div><div class=\"ps8719 ss659\"><span class=\"f charStyle-b07b4361 ps39\">Weighted average number of ordinary shares adjusted <span class=\"f ps40\"> </span></span></div><div class=\"ps8720 ss659\"><span class=\"f charStyle-b07b4361 ps39\">for the effect of dilution\u00b9</span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8721 ss665\"><div><div class=\"ps8720 ss487\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.27pt\"></span></span><span class=\"ps8707\">354,690</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8722 ss665\"><div><div class=\"ps8720 ss487\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.27pt\"></span></span><span class=\"ps8707\">346,959</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8723 ss665\"><div><div class=\"ps8720 ss487\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.27pt\"></span></span><span class=\"ps8707\">203,223</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps8725 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The weighted average number of ordinary shares considers the weighted average effect of treasury shares </span></div><div class=\"ps8726 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">during the period. </span></div><div class=\"ps8727 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">During 2024, the weighted average number of ordinary shares was also affected by the issuance of shares in </span></div><div class=\"ps8730 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">connection with a private placement on 15 February 2024, resulting in the issuance of </span><span class=\"f charStyle-c1b8f9f6 ps8728\">39.5\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8729\"> shares, a </span></div><div class=\"ps8633 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">private placement on 26 June 2024, resulting in the issuance of </span><span class=\"f charStyle-c1b8f9f6 ps8731\">28\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8732\"> shares and the share buy-back </span></div><div class=\"ps8735 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">programme, resulting in the repurchase of </span><span class=\"f charStyle-c1b8f9f6 ps8733\">215\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps8734\"> shares. </span></div><div class=\"ps8737 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In December 2023, </span><span class=\"f charStyle-c1b8f9f6 ps1399\">114\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8736\"> shares were issued in connection with the business combination with Eneti. </span></div><div class=\"ps8741 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-df865089 ps183\">There have been no other transactions involving ordinary shares or potential ordinary shares between the reporting date and the date </span></div><div class=\"ps8743 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-df865089 ps183\">of authorisation of these consolidated financial statements.</span><span class=\"f charStyle-f8d16a17 ps8742\"><sup> </sup></span></div><div class=\"ps8747 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-f8d16a17 ps8745\"><sup>1</sup></span><span class=\"f charStyle-df865089 ps8746\">The weighted average number of shares considers the weighted average effect of share-based payments during the year.</span></div><div class=\"ps7795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Accounting policies<span id=\"iad8a928edd3c4a15b20704b9809d0a73\"></span></span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The Company calculates Basic EPS by dividing the profit for the year attributable to ordinary equity holders </span></div><div class=\"ps7161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">of the parent by the weighted average number of ordinary shares outstanding during the year.</span></div><div class=\"ps419 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Diluted EPS is calculated by dividing the profit attributable to ordinary holders of the parent by the weighted </span></div><div class=\"ps420 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">average number of ordinary shares outstanding during the year plus the weighted average number of </span></div><div class=\"ps421 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">ordinary shares that would be issued on conversion of all the dilutive potential ordinary shares into ordinary </span></div><div class=\"ps7118 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">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-555": {
   "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 ps183\">Note 12</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Intangible Assets<span id=\"i5659d7b42a954133ae10d740547684b9\"></span></span></div><div class=\"ps7684 ss0\"><div class=\"ss668 ws0 ps67\"><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=\"ps8752 ss554\"><div><div class=\"ps41 ss163\"><span class=\"f charStyle-281247bf ps8751\">2025<span class=\"f ps40\"> </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=\"ps6085 ss554\"><div><div class=\"ps41 ss163\"><span class=\"f charStyle-054ead99 ps8751\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps8753 ss554\"><div><div class=\"ps41 ss163\"><span class=\"f charStyle-054ead99 ps8751\">2023<span class=\"f ps40\"> </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=\"ps43 ss667\"><div><div class=\"ps8754 ss666\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8757 ss164\"><div><div class=\"ps8756 ss163\"><span class=\"f charStyle-281247bf ps8755\">Software<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8759 ss164\"><div><div class=\"ps8756 ss163\"><span class=\"f charStyle-281247bf ps8758\">Goodwill<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8760 ss164\"><div><div class=\"ps8756 ss163\"><span class=\"f charStyle-281247bf ps5317\">Total<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8761 ss164\"><div><div class=\"ps8756 ss163\"><span class=\"f charStyle-054ead99 ps8755\">Software<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8762 ss164\"><div><div class=\"ps8756 ss163\"><span class=\"f charStyle-054ead99 ps8758\">Goodwill<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8763 ss164\"><div><div class=\"ps8756 ss163\"><span class=\"f charStyle-054ead99 ps5317\">Total<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8764 ss164\"><div><div class=\"ps8756 ss163\"><span class=\"f charStyle-054ead99 ps8755\">Software<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8766 ss164\"><div><div class=\"ps8756 ss163\"><span class=\"f charStyle-054ead99 ps8765\">Goodwill<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8767 ss164\"><div><div class=\"ps8756 ss163\"><span class=\"f charStyle-054ead99 ps6516\">Total<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5195 ss667\"><div><div class=\"ps4607 ss666\"><span class=\"f charStyle-b07b4361 ps39\">Cost<span class=\"f ps40\"> </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=\"ps2167 ss667\"><div><div class=\"ps4607 ss666\"><span class=\"f charStyle-1bac868e ps630\">Beginning of period<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8768 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6526\">1,069</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8769 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.02pt\"></span></span><span class=\"ps6519\">17,763</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8770 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.02pt\"></span></span><span class=\"ps6519\">18,832</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8772 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">693</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8773 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.02pt\"></span></span><span class=\"ps6519\">16,707</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8774 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.02pt\"></span></span><span class=\"ps6519\">17,400</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8775 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">662</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8776 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8777 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">662</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps6339 ss667\"><div><div class=\"ps4607 ss666\"><span class=\"f charStyle-1bac868e ps630\">Acquisition of businesses<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8778 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8779 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8780 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8781 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8782 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8783 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8784 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8785 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.02pt\"></span></span><span class=\"ps6519\">16,919</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8786 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.02pt\"></span></span><span class=\"ps6519\">16,919</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps1033 ss667\"><div><div class=\"ps4607 ss666\"><span class=\"f charStyle-1bac868e ps630\">Additions<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8787 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6526\">1,506</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8788 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8789 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6526\">1,506</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8790 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">410</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8791 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8792 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">410</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8793 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.52pt\"></span></span><span class=\"ps6657\">31</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8794 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8795 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.52pt\"></span></span><span class=\"ps6657\">31</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps8796 ss667\"><div><div class=\"ps4607 ss666\"><span class=\"f charStyle-1bac868e ps630\">Disposals<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8797 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8798 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8799 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8801 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.1pt\"></span></span><span class=\"ps8800\">(38)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8802 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8803 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.1pt\"></span></span><span class=\"ps8800\">(38)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8804 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8805 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8806 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps1827 ss667\"><div><div class=\"ps4607 ss666\"><span class=\"f charStyle-1bac868e ps630\">Exchange differences<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8807 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8808 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8809 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8810 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:60.37pt\"></span></span><span class=\"ps6655\">4</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8811 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6526\">1,056</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8812 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6526\">1,060</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8813 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8815 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:45.25pt\"></span></span><span class=\"ps8814\">(212)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8816 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:45.25pt\"></span></span><span class=\"ps8814\">(212)</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8817 ss667\"><div><div class=\"ps4607 ss666\"><span class=\"f charStyle-b07b4361 ps39\">31 December<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8818 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.11pt\"></span></span><span class=\"ps6634\">2,575</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8819 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6589\">17,763</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8820 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6589\">20,338</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8821 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.11pt\"></span></span><span class=\"ps6634\">1,069</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8822 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6589\">17,763</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8823 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6589\">18,832</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8825 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8824\">693</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8826 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6589\">16,707</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8827 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6589\">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=\"ps8828 ss667\"><div><div class=\"ps4607 ss666\"><span class=\"f charStyle-b07b4361 ps39\">Accumulated depreciation<span class=\"f ps40\"> </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=\"ps4839 ss667\"><div><div class=\"ps4607 ss666\"><span class=\"f charStyle-1bac868e ps630\">Beginning of period<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8829 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">642</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8830 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8831 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">642</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8832 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">453</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8833 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8834 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">453</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8835 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">243</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8836 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8837 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">243</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps2240 ss667\"><div><div class=\"ps4607 ss666\"><span class=\"f charStyle-1bac868e ps630\">Depreciation charge<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8838 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">264</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8839 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8840 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">264</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8841 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">189</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8842 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8843 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">189</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8844 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">210</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8845 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8846 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">210</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6629 ss667\"><div><div class=\"ps4607 ss666\"><span class=\"f charStyle-b07b4361 ps39\">31 December<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8847 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8824\">906</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8848 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8849 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8824\">906</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8850 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8824\">642</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8851 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8852 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8824\">642</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8853 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8824\">453</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8854 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8855 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8824\">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=\"ps4033 ss667\"><div><div class=\"ps4607 ss666\"><span class=\"f charStyle-b07b4361 ps39\">Net book value<span class=\"f ps40\"> </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=\"ps8856 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.11pt\"></span></span><span class=\"ps6634\">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=\"ps8857 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6589\">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=\"ps8858 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6589\">19,432</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8859 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8824\">427</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8860 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6589\">17,763</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8861 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6589\">18,190</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8862 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8824\">240</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8863 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6589\">16,707</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8864 ss164\"><div><div class=\"ps4607 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.94pt\"></span></span><span class=\"ps6589\">16,947</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps3138 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Software additions during </span><span class=\"f charStyle-c1b8f9f6 ps8865\">2025</span><span class=\"f charStyle-c1b8f9f6 ps8866\">, </span><span class=\"f charStyle-c1b8f9f6 ps8867\">2024</span><span class=\"f charStyle-c1b8f9f6 ps8868\"> and </span><span class=\"f charStyle-c1b8f9f6 ps8869\">2023</span><span class=\"f charStyle-c1b8f9f6 ps8870\"> 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=\"ps3139 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Resource Planning (ERP) system.</span></div><div class=\"ps3111 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Goodwill of </span><span class=\"f charStyle-c1b8f9f6 ps8871\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8872\"> </span><span class=\"f charStyle-c1b8f9f6 ps8873\">16.9\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps8874\"> was recognised on 19 December 2023 in relation to the acquisition of Eneti. The Group has </span><span class=\"f charStyle-c1b8f9f6 ps8875\">two</span><span class=\"f charStyle-c1b8f9f6 ps8876\"> CGUs consisting of the WTGFIV and the O&amp;M units with specific vessels allocated.</span></div></div><div class=\"ps7314 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Impairment test<span id=\"iab9b61bd06524ed3b49b20adbe5c6206\"></span></span></div><div class=\"ps7319 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Goodwill arising from the merger with Eneti is allocated to the WTGFIV CGU as the expected synergies will </span></div><div class=\"ps7332 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">arise from this CGU. Management has performed an evaluation of impairment indicators for the O&amp;MV </span></div><div class=\"ps8877 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">CGU to which no goodwill is allocated. Management concluded that indicators of impairment are present </span></div><div class=\"ps8878 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">and has therefore also performed an impairment test for this CGU. The Company has performed an annual </span></div><div class=\"ps8879 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">impairment test of the WTGFIV CGU. Neither in 2025, 2024 and nor in 2023 did the test result in any </span></div><div class=\"ps8880 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">impairment. </span></div><div class=\"ps8881 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The annual impairment test is an assessment of whether the recoverable amount being the value in use (or </span></div><div class=\"ps8882 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">fair value less cost of disposal) of the cash generating unit, will be able to generate sufficient positive future </span></div><div class=\"ps8883 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">net cash flows to support the carrying amount of the assets related to the cash generating unit.</span></div><div class=\"ps8924 ss0\"><div class=\"ss176 ws0 ps67\"><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=\"ps37 ss670\"><div><div class=\"ps8884 ss669\"><span class=\"f charStyle-64a4cf84 ps39\">EUR m<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8886 ss672\"><div><div class=\"ps5584 ss671\"><span class=\"f charStyle-054ead99 ps8885\">Recoverable amount<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8889 ss672\"><div><div class=\"ps5590 ss671\"><span class=\"f charStyle-054ead99 ps8887\">Excess values (recoverable <span class=\"f ps40\"> </span></span></div><div class=\"ps5591 ss671\"><span class=\"f charStyle-054ead99 ps8888\">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=\"ps8890 ss673\"><div><div class=\"ps435 ss669\"><span class=\"f charStyle-b07b4361 ps39\">CGU<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8891 ss674\"><div><div class=\"ps435 ss161\"><span class=\"f charStyle-281247bf ps6379\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8894 ss674\"><div><div class=\"ps435 ss161\"><span class=\"f charStyle-054ead99 ps8892\">2024<span class=\"f ps40\"> </span></span><span class=\"f charStyle-99173ab7 ps8893\"><span class=\"f ps40\"> </span><span class=\"f\">1</span><sup></sup></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8896 ss674\"><div><div class=\"ps435 ss161\"><span class=\"f charStyle-054ead99 ps8895\">2023\u00b9<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8897 ss674\"><div><div class=\"ps435 ss161\"><span class=\"f charStyle-281247bf ps6379\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8898 ss674\"><div><div class=\"ps435 ss161\"><span class=\"f charStyle-054ead99 ps8895\">2024\u00b9<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8899 ss674\"><div><div class=\"ps435 ss161\"><span class=\"f charStyle-054ead99 ps8895\">2023\u00b9<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps8900 ss673\"><div><div class=\"ps435 ss669\"><span class=\"f charStyle-b07b4361 ps39\">WTGFIV<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8902 ss674\"><div><div class=\"ps435 ss161\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:14.62pt\"></span></span><span class=\"ps8901\">5,099</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8903 ss674\"><div><div class=\"ps435 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:14.62pt\"></span></span><span class=\"ps8901\">1,103</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8904 ss674\"><div><div class=\"ps435 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.42pt\"></span></span><span class=\"ps6798\">574</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8905 ss674\"><div><div class=\"ps435 ss161\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:14.62pt\"></span></span><span class=\"ps8901\">2,457</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8906 ss674\"><div><div class=\"ps435 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.42pt\"></span></span><span class=\"ps6798\">227</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8907 ss674\"><div><div class=\"ps435 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.27pt\"></span></span><span class=\"ps6800\">58</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps7806 ss673\"><div><div class=\"ps435 ss669\"><span class=\"f charStyle-b07b4361 ps39\">O&amp;MV<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8908 ss674\"><div><div class=\"ps435 ss161\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.42pt\"></span></span><span class=\"ps6798\">355</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8909 ss674\"><div><div class=\"ps435 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.27pt\"></span></span><span class=\"ps6800\">89</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8910 ss674\"><div><div class=\"ps435 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.27pt\"></span></span><span class=\"ps6800\">95</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps8911 ss674\"><div><div class=\"ps435 ss161\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.27pt\"></span></span><span class=\"ps6800\">41</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8912 ss674\"><div><div class=\"ps435 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31.12pt\"></span></span><span class=\"ps6813\">1</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8914 ss674\"><div><div class=\"ps435 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.97pt\"></span></span><span class=\"ps8913\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2271 ss673\"><div><div class=\"ps435 ss669\"><span class=\"f charStyle-b07b4361 ps39\">Total<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8916 ss674\"><div><div class=\"ps435 ss161\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:12.86pt\"></span></span><span class=\"ps8915\">5,454</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8917 ss674\"><div><div class=\"ps435 ss161\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:12.86pt\"></span></span><span class=\"ps8915\">1,192</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8919 ss674\"><div><div class=\"ps435 ss161\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:20.46pt\"></span></span><span class=\"ps8918\">669</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8920 ss674\"><div><div class=\"ps435 ss161\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:12.86pt\"></span></span><span class=\"ps8915\">2,498</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8921 ss674\"><div><div class=\"ps435 ss161\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:20.46pt\"></span></span><span class=\"ps8918\">228</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8923 ss674\"><div><div class=\"ps435 ss161\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.63pt\"></span></span><span class=\"ps8922\">58</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps8925 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Applied assumptions<span id=\"i2cf8076027824abc873b16742601d71c\"></span></span></div><div class=\"ps8926 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">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=\"ps8927 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">use (VIU). In 2024 and 2023, the impairment test involves estimating both FVLCOD (Fair value less costs of </span></div><div class=\"ps8928 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">disposal) and VIU and comparing the higher amount to the asset\u2019s carrying amount. Fair values are </span></div><div class=\"ps8929 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">obtained through third-party broker assessment (level 3) of the vessels from at least two independent </span></div><div class=\"ps8930 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">brokers.</span></div><div class=\"ps8931 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The discounted cash flow period has been calculated from the remaining useful life of the vessels as this is </span></div><div class=\"ps8932 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">deemed most representative for the actual value of the vessels. Accordingly, the calculation has no terminal </span></div><div class=\"ps8933 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">value. </span></div><div class=\"ps7319 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The VIU is based on cash flow projections in financial budgets and business plans using a five year period </span></div><div class=\"ps7332 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">from 2026-2031 as follows:</span></div><div class=\"ps3380 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps8934\">\u2022<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps8935\">Revenue projection is based on signed contracts and expected revenue for the capacity not signed </span></div><div class=\"ps6980 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps8935\">yet as well as foundation contracts. </span></div><div class=\"ps8936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps8934\">\u2022<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps8935\">Cost of sales are based on the business plan which is inflated afterwards, and expected </span></div><div class=\"ps7350 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps8935\">maintenance based on investment budget.</span></div><div class=\"ps8938 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps8934\">\u2022<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps8935\">Inflation is forecast at </span><span class=\"f charStyle-c1b8f9f6 ps8937\">2.5%</span></div><div class=\"ps8939 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The discount rate used in the calculation is based on a Weighted Average Cost of Capital (WACC), reflecting </span></div><div class=\"ps4538 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">the cost of equity, cost of debt and capital structure, and is </span><span class=\"f charStyle-c1b8f9f6 ps8940\">10.1%</span><span class=\"f charStyle-c1b8f9f6 ps8941\"> after tax, (</span><span class=\"f charStyle-c1b8f9f6 ps8942\">9.5%</span><span class=\"f charStyle-c1b8f9f6 ps8943\"> after tax in 2024 and </span><span class=\"f charStyle-c1b8f9f6 ps8944\">9.5%</span><span class=\"f charStyle-c1b8f9f6 ps8945\"> </span></div><div class=\"ps8946 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">after tax in 2023). As Cadeler is subject to the tonnage tax regime, the tax consideration in the WACC </span></div><div class=\"ps6989 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">calculation for impairment of a vessel is immaterial, thus the before and after tax WACC remain the same for </span></div><div class=\"ps8947 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">impairment testing purposes. Regarding the O&amp;MV CGU, the calculations showed no indication of </span></div><div class=\"ps8948 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">impairment, as the future value of cash flows was higher than the carrying amount of the vessel, although </span></div><div class=\"ps8949 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">there was limited headroom.</span></div><div class=\"ps8950 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Accounting policies<span id=\"i65d000fd33794c69802776ec533f71cd\"></span></span></div><div class=\"ps6994 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Goodwill is tested for impairment at least once a year or sooner if an impairment indication arises. </span></div><div class=\"ps6995 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Impairment testing is performed for each CGU to which goodwill is allocated, as determined by </span></div><div class=\"ps8951 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Management.</span></div><div class=\"ps8952 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">If the carrying amount of intangible assets exceeds the recoverable amount, an impairment will be </span></div><div class=\"ps8953 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">recognised in the statement of profit and loss. Any impairment of goodwill impairment losses cannot be </span></div><div class=\"ps5077 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">reversed subsequently.</span></div><div class=\"ps8954 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Intangible assets, such as software, are recognised at cost less accumulated depreciation and accumulated </span></div><div class=\"ps8955 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">impairment losses. The cost of an intangible asset initially recognised includes its purchase price and any </span></div><div class=\"ps8956 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">directly attributable costs necessary to prepare the asset for its intended use. Depreciation is calculated on a </span></div><span class=\"f charStyle-c1b8f9f6 ps1006\">straight-line basis over the estimated useful life, which is </span><span class=\"f charStyle-c1b8f9f6 ps8957\">3 years</span><span class=\"f charStyle-c1b8f9f6 ps8958\"> for software.</span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-556": {
   "value": "<div class=\"ps8950 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Accounting policies<span id=\"i65d000fd33794c69802776ec533f71cd\"></span></span></div><div class=\"ps6994 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Goodwill is tested for impairment at least once a year or sooner if an impairment indication arises. </span></div><div class=\"ps6995 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Impairment testing is performed for each CGU to which goodwill is allocated, as determined by </span></div><div class=\"ps8951 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Management.</span></div><div class=\"ps8952 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">If the carrying amount of intangible assets exceeds the recoverable amount, an impairment will be </span></div><div class=\"ps8953 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">recognised in the statement of profit and loss. Any impairment of goodwill impairment losses cannot be </span></div><div class=\"ps5077 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">reversed subsequently.</span></div><div class=\"ps8954 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Intangible assets, such as software, are recognised at cost less accumulated depreciation and accumulated </span></div><div class=\"ps8955 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">impairment losses. The cost of an intangible asset initially recognised includes its purchase price and any </span></div><div class=\"ps8956 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">directly attributable costs necessary to prepare the asset for its intended use. Depreciation is calculated on a </span></div><div class=\"ps8960 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">straight-line basis over the estimated useful life, which is </span><span class=\"f charStyle-c1b8f9f6 ps8957\">3 years</span><span class=\"f charStyle-c1b8f9f6 ps8958\"> for software.</span><span class=\"f charStyle-c1b8f9f6 ps8959\"> </span></div><div class=\"ps9348 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies<span id=\"i0ddbd7e4d5ee4f2694b6407c8d48253e\"></span></span></div><div class=\"ps7332 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Property, plant and equipment are recognised at cost less accumulated depreciation and accumulated </span></div><div class=\"ps8877 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">impairment losses.</span></div><div class=\"ps6980 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The cost of an item of property, plant and equipment initially recognised includes its purchase price and any </span></div><div class=\"ps6981 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">costs that are directly attributable to bringing the asset to the location and condition necessary for it to be </span></div><div class=\"ps6984 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">capable of operating in the manner intended by management.</span></div><div class=\"ps6985 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Subsequent expenditure relating to property, plant and equipment that has already been recognised is </span></div><div class=\"ps7362 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">added to the carrying amount of the asset only when it is probable that future economic benefits associated </span></div><div class=\"ps9349 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">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=\"ps9350 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">maintenance expenses are recognised in profit or loss as incurred.</span></div><div class=\"ps9352 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">To maintain operational capability, the vessels are required to undergo dry-docking procedures every </span><span class=\"f charStyle-c1b8f9f6 ps9351\">five </span></div><div class=\"ps9353 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">years</span><span class=\"f charStyle-c1b8f9f6 ps8115\">. The costs of the dry-docking procedures are capitalised at cost, including any costs that are directly </span></div><div class=\"ps9354 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">attributable to bringing the vessels to the location and condition necessary for the dry-docking procedures.</span></div><div class=\"ps8949 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Depreciation is calculated using the straight-line method to allocate their depreciable amounts over the </span></div><div class=\"ps9356 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">assets\u2019 estimated useful life. </span><span class=\"f charStyle-c1b8f9f6 ps9355\">The estimated useful lives are as follows:</span></div><div class=\"ps9364 ss0\"><div class=\"ss176 ws0 ps67\"><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=\"ps8588 ss687\"><div><div class=\"ps41 ss686\"><span class=\"f charStyle-a2ac8934 ps39\">Useful life<span class=\"f ps40\"> </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=\"ps43 ss688\"><div><div class=\"ps748 ss655\"><span class=\"f charStyle-2b5af115 ps39\">Vessels and furnished equipment<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:1pt solid #000;padding:0\"><div class=\"ps9358 ss689\"><div><div class=\"ps748 ss686\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps39\">Up to </span><span class=\"f charStyle-1770e19e ps9357\">25 years</span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps5644 ss688\"><div><div class=\"ps748 ss655\"><span class=\"f charStyle-2b5af115 ps39\">Drydock<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9359 ss689\"><div><div class=\"ps748 ss686\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps39\">5 years</span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps2259 ss688\"><div><div class=\"ps748 ss655\"><span class=\"f charStyle-2b5af115 ps39\">Cars<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps9360 ss689\"><div><div class=\"ps748 ss686\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps39\">5 years</span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps5527 ss688\"><div><div class=\"ps748 ss655\"><span class=\"f charStyle-2b5af115 ps39\">Other fixtures and fittings<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9363 ss689\"><div><div class=\"ps748 ss686\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps39\">2</span><span class=\"f charStyle-1770e19e ps9361\"> to </span><span class=\"f charStyle-1770e19e ps9362\">3 years</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6997 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The estimated useful life of the vessels of up to </span><span class=\"f charStyle-c1b8f9f6 ps9365\">25 years</span><span class=\"f charStyle-c1b8f9f6 ps9366\"> has been determined by an external consultant </span></div><div class=\"ps9296 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">through a fatigue analysis based on the technical specification of the vessels, whereas for Wind Peak, the </span></div><div class=\"ps9302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">estimated useful life has been determined based on an internal technical analysis, validated by an external </span></div><div class=\"ps9307 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">expert. The estimated useful life of these vessels depends on the initial delivery date. </span></div><div class=\"ps2992 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Prior to their acquisition, Wind Orca and Wind Osprey, had already been in use for </span><span class=\"f charStyle-c1b8f9f6 ps9367\">eight years</span><span class=\"f charStyle-c1b8f9f6 ps9368\">, therefore the </span></div><div class=\"ps2993 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">remaining useful life of these vessels is estimated at </span><span class=\"f charStyle-c1b8f9f6 ps9369\">17 years</span><span class=\"f charStyle-c1b8f9f6 ps9370\"> for all components except for the jacking </span></div><div class=\"ps2994 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">system and the main crane, which have a remaining useful life of </span><span class=\"f charStyle-c1b8f9f6 ps9371\">three years</span><span class=\"f charStyle-c1b8f9f6 ps9372\"> from the acquisition date. For </span></div><div class=\"ps3313 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Wind Scylla and Wind Zaratan, the remaining useful lives at the acquisition date were assessed to be </span><span class=\"f charStyle-c1b8f9f6 ps9373\">17</span><span class=\"f charStyle-c1b8f9f6 ps9374\"> and </span></div><div class=\"ps3314 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">14 years</span><span class=\"f charStyle-c1b8f9f6 ps9375\"> respectively, and all components are assigned the same useful life. Hull and steel components have </span></div><div class=\"ps3315 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">a salvage value of up to</span><span class=\"f charStyle-c1b8f9f6 ps9376\"> </span><span class=\"f charStyle-c1b8f9f6 ps9377\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9378\"> </span><span class=\"f charStyle-c1b8f9f6 ps9379\">15\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9380\"> per vessel at the end of their useful lives. Both the salvage value and </span></div><div class=\"ps3316 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">the residual value are estimated as the lightweight tonnage of each vessel multiplied by the scrap value per </span></div><div class=\"ps3317 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">tonne. Depreciation is based on costs less the estimated residual value.</span></div><div class=\"ps3120 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Further information is provided in Note 2.4, Material accounting judgements, estimates and assumptions, in </span></div><div class=\"ps3121 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">relation to vessels acquired through the business combination.</span></div><div class=\"ps3128 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The residual value, useful life, and methods of depreciation of property, plant, and equipment are reviewed </span></div><div class=\"ps3129 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">at each financial year end and adjusted accordingly, if appropriate.</span></div><div class=\"ps9386 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Impairment of non-financial assets <span id=\"ied66e0bde3da4c348bdf3ba8c64c7cb7\"></span></span></div><div class=\"ps9387 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Property, plant and equipment and right-of-use assets are tested for impairment whenever there is </span></div><div class=\"ps9388 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">objective evidence or an indication that these assets may be impaired. Refer to note 12 for further </span></div><div class=\"ps7937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">information impairment testing.</span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Accounting policies<span id=\"i5b93fa0e4eeb499581f0d02dbf58f2fb\"></span></span></div><div class=\"ps8676 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Right-of-Use Assets <span id=\"if3e7eb2c164547ba99ae198c39355d35\"></span></span></div><div class=\"ps8677 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The Group recognises a right-of-use asset and lease liability at the date on which the underlying asset is </span></div><div class=\"ps8678 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">made available for use. Right-of-use assets are measured at cost, which comprises the initial measurement </span></div><div class=\"ps8679 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">of the lease liability using an incremental borrowing rate adjusted for any lease payments made at or before </span></div><div class=\"ps8680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">the commencement date and any lease incentives received. Any initial direct costs that would not have been </span></div><div class=\"ps8701 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">incurred if the lease had not been obtained are included in to the carrying amount of the right-of-use </span></div><div class=\"ps9643 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">assets.</span></div><div class=\"ps8683 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The right-of-use asset is subsequently measured at cost, less any accumulated depreciation and impairment </span></div><div class=\"ps8684 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">losses, and adjusted for any remeasurement of the lease liability.</span></div><div class=\"ps3200 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Right-of-use assets are depreciated on a straight-line basis over the lease term.</span></div><div class=\"ps9644 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Right-of-use assets are tested for impairment whenever there is objective evidence or an indication that </span></div><div class=\"ps9645 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">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-557": {
   "value": "<div class=\"ps8950 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Accounting policies<span id=\"i65d000fd33794c69802776ec533f71cd\"></span></span></div><div class=\"ps6994 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Goodwill is tested for impairment at least once a year or sooner if an impairment indication arises. </span></div><div class=\"ps6995 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Impairment testing is performed for each CGU to which goodwill is allocated, as determined by </span></div><div class=\"ps8951 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Management.</span></div><div class=\"ps8952 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">If the carrying amount of intangible assets exceeds the recoverable amount, an impairment will be </span></div><div class=\"ps8953 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">recognised in the statement of profit and loss. Any impairment of goodwill impairment losses cannot be </span></div><div class=\"ps5077 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">reversed subsequently.</span></div><div class=\"ps8954 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Intangible assets, such as software, are recognised at cost less accumulated depreciation and accumulated </span></div><div class=\"ps8955 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">impairment losses. The cost of an intangible asset initially recognised includes its purchase price and any </span></div><div class=\"ps8956 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">directly attributable costs necessary to prepare the asset for its intended use. Depreciation is calculated on a </span></div><span class=\"f charStyle-c1b8f9f6 ps1006\">straight-line basis over the estimated useful life, which is </span><span class=\"f charStyle-c1b8f9f6 ps8957\">3 years</span><span class=\"f charStyle-c1b8f9f6 ps8958\"> for software.</span><div class=\"ps9348 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies<span id=\"i0ddbd7e4d5ee4f2694b6407c8d48253e\"></span></span></div><div class=\"ps7332 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Property, plant and equipment are recognised at cost less accumulated depreciation and accumulated </span></div><div class=\"ps8877 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">impairment losses.</span></div><div class=\"ps6980 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The cost of an item of property, plant and equipment initially recognised includes its purchase price and any </span></div><div class=\"ps6981 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">costs that are directly attributable to bringing the asset to the location and condition necessary for it to be </span></div><div class=\"ps6984 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">capable of operating in the manner intended by management.</span></div><div class=\"ps6985 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Subsequent expenditure relating to property, plant and equipment that has already been recognised is </span></div><div class=\"ps7362 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">added to the carrying amount of the asset only when it is probable that future economic benefits associated </span></div><div class=\"ps9349 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">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=\"ps9350 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">maintenance expenses are recognised in profit or loss as incurred.</span></div><div class=\"ps9352 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">To maintain operational capability, the vessels are required to undergo dry-docking procedures every </span><span class=\"f charStyle-c1b8f9f6 ps9351\">five </span></div><div class=\"ps9353 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">years</span><span class=\"f charStyle-c1b8f9f6 ps8115\">. The costs of the dry-docking procedures are capitalised at cost, including any costs that are directly </span></div><div class=\"ps9354 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">attributable to bringing the vessels to the location and condition necessary for the dry-docking procedures.</span></div><div class=\"ps8949 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Depreciation is calculated using the straight-line method to allocate their depreciable amounts over the </span></div><div class=\"ps9356 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">assets\u2019 estimated useful life. </span><span class=\"f charStyle-c1b8f9f6 ps9355\">The estimated useful lives are as follows:</span></div><div class=\"ps9364 ss0\"><div class=\"ss176 ws0 ps67\"><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=\"ps8588 ss687\"><div><div class=\"ps41 ss686\"><span class=\"f charStyle-a2ac8934 ps39\">Useful life<span class=\"f ps40\"> </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=\"ps43 ss688\"><div><div class=\"ps748 ss655\"><span class=\"f charStyle-2b5af115 ps39\">Vessels and furnished equipment<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:1pt solid #000;padding:0\"><div class=\"ps9358 ss689\"><div><div class=\"ps748 ss686\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps39\">Up to </span><span class=\"f charStyle-1770e19e ps9357\">25 years</span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps5644 ss688\"><div><div class=\"ps748 ss655\"><span class=\"f charStyle-2b5af115 ps39\">Drydock<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9359 ss689\"><div><div class=\"ps748 ss686\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps39\">5 years</span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps2259 ss688\"><div><div class=\"ps748 ss655\"><span class=\"f charStyle-2b5af115 ps39\">Cars<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps9360 ss689\"><div><div class=\"ps748 ss686\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps39\">5 years</span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps5527 ss688\"><div><div class=\"ps748 ss655\"><span class=\"f charStyle-2b5af115 ps39\">Other fixtures and fittings<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9363 ss689\"><div><div class=\"ps748 ss686\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps39\">2</span><span class=\"f charStyle-1770e19e ps9361\"> to </span><span class=\"f charStyle-1770e19e ps9362\">3 years</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6997 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The estimated useful life of the vessels of up to </span><span class=\"f charStyle-c1b8f9f6 ps9365\">25 years</span><span class=\"f charStyle-c1b8f9f6 ps9366\"> has been determined by an external consultant </span></div><div class=\"ps9296 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">through a fatigue analysis based on the technical specification of the vessels, whereas for Wind Peak, the </span></div><div class=\"ps9302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">estimated useful life has been determined based on an internal technical analysis, validated by an external </span></div><div class=\"ps9307 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">expert. The estimated useful life of these vessels depends on the initial delivery date. </span></div><div class=\"ps2992 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Prior to their acquisition, Wind Orca and Wind Osprey, had already been in use for </span><span class=\"f charStyle-c1b8f9f6 ps9367\">eight years</span><span class=\"f charStyle-c1b8f9f6 ps9368\">, therefore the </span></div><div class=\"ps2993 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">remaining useful life of these vessels is estimated at </span><span class=\"f charStyle-c1b8f9f6 ps9369\">17 years</span><span class=\"f charStyle-c1b8f9f6 ps9370\"> for all components except for the jacking </span></div><div class=\"ps2994 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">system and the main crane, which have a remaining useful life of </span><span class=\"f charStyle-c1b8f9f6 ps9371\">three years</span><span class=\"f charStyle-c1b8f9f6 ps9372\"> from the acquisition date. For </span></div><div class=\"ps3313 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Wind Scylla and Wind Zaratan, the remaining useful lives at the acquisition date were assessed to be </span><span class=\"f charStyle-c1b8f9f6 ps9373\">17</span><span class=\"f charStyle-c1b8f9f6 ps9374\"> and </span></div><div class=\"ps3314 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">14 years</span><span class=\"f charStyle-c1b8f9f6 ps9375\"> respectively, and all components are assigned the same useful life. Hull and steel components have </span></div><div class=\"ps3315 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">a salvage value of up to</span><span class=\"f charStyle-c1b8f9f6 ps9376\"> </span><span class=\"f charStyle-c1b8f9f6 ps9377\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9378\"> </span><span class=\"f charStyle-c1b8f9f6 ps9379\">15\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9380\"> per vessel at the end of their useful lives. Both the salvage value and </span></div><div class=\"ps3316 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">the residual value are estimated as the lightweight tonnage of each vessel multiplied by the scrap value per </span></div><div class=\"ps3317 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">tonne. Depreciation is based on costs less the estimated residual value.</span></div><div class=\"ps3120 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Further information is provided in Note 2.4, Material accounting judgements, estimates and assumptions, in </span></div><div class=\"ps3121 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">relation to vessels acquired through the business combination.</span></div><div class=\"ps3128 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The residual value, useful life, and methods of depreciation of property, plant, and equipment are reviewed </span></div><div class=\"ps3129 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">at each financial year end and adjusted accordingly, if appropriate.</span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Accounting policies<span id=\"i5b93fa0e4eeb499581f0d02dbf58f2fb\"></span></span></div><div class=\"ps8676 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Right-of-Use Assets <span id=\"if3e7eb2c164547ba99ae198c39355d35\"></span></span></div><div class=\"ps8677 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The Group recognises a right-of-use asset and lease liability at the date on which the underlying asset is </span></div><div class=\"ps8678 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">made available for use. Right-of-use assets are measured at cost, which comprises the initial measurement </span></div><div class=\"ps8679 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">of the lease liability using an incremental borrowing rate adjusted for any lease payments made at or before </span></div><div class=\"ps8680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">the commencement date and any lease incentives received. Any initial direct costs that would not have been </span></div><div class=\"ps8701 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">incurred if the lease had not been obtained are included in to the carrying amount of the right-of-use </span></div><div class=\"ps9643 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">assets.</span></div><div class=\"ps8683 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The right-of-use asset is subsequently measured at cost, less any accumulated depreciation and impairment </span></div><div class=\"ps8684 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">losses, and adjusted for any remeasurement of the lease liability.</span></div><div class=\"ps3200 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Right-of-use assets are depreciated on a straight-line basis over the lease term.</span></div><div class=\"ps9644 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Right-of-use assets are tested for impairment whenever there is objective evidence or an indication that </span></div><div class=\"ps9645 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">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-558": {
   "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 ps183\">Note 13</span></div><div class=\"ps8965 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Property, Plant and Equipment<span id=\"ied4456ff49794ff3861be233ee7ad17a\"></span></span></div><div class=\"ps9053 ss0\"><div class=\"ss642 ws0 ps67\"><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=\"ps37 ss676\"><div><div class=\"ps8967 ss675\"><span class=\"f charStyle-4979afbe ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8969 ss678\"><div><div class=\"ps5584 ss677\"><span class=\"f charStyle-281247bf ps8968\">Vessels<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8971 ss678\"><div><div class=\"ps5584 ss677\"><span class=\"f charStyle-281247bf ps8970\">Dry dock<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8973 ss678\"><div><div class=\"ps5584 ss677\"><span class=\"f charStyle-281247bf ps8972\">Other fixtures and fittings<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8975 ss678\"><div><div class=\"ps5584 ss677\"><span class=\"f charStyle-281247bf ps8974\">Assets under construction<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8977 ss678\"><div><div class=\"ps5584 ss677\"><span class=\"f charStyle-281247bf ps8976\">Total<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8890 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-b07b4361 ps39\">Cost 2025<span class=\"f ps40\"> </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=\"ps8900 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-1bac868e ps39\">Beginning of financial year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8979 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:84.37pt\"></span></span><span class=\"ps8978\">1,056,664</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8981 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8980\">17,644</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8982 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8980\">13,513</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8984 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8983\">736,610</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8985 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:84.37pt\"></span></span><span class=\"ps8978\">1,824,431</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps7806 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-1bac868e ps39\">Additions<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8986 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8980\">71,255</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8988 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:107.67pt\"></span></span><span class=\"ps8987\">843</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8990 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8989\">3,661</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8991 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:84.37pt\"></span></span><span class=\"ps8978\">1,254,658</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8992 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:84.37pt\"></span></span><span class=\"ps8978\">1,330,417</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps2271 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-1bac868e ps39\">Transfer from assets under construction<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8993 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:84.37pt\"></span></span><span class=\"ps8978\">1,381,140</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8994 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8980\">20,423</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8996 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:90.6pt\"></span></span><span class=\"ps8995\">(10,371)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8998 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:78.95pt\"></span></span><span class=\"ps8997\">(1,391,192)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9000 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5220 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-1bac868e ps39\">Disposals<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9001 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9002 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9004 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:102.25pt\"></span></span><span class=\"ps9003\">(124)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9005 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9006 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:102.25pt\"></span></span><span class=\"ps9003\">(124)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps7396 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-1bac868e ps39\">Exchange differences<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9007 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9008 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9009 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9010 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9011 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\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=\"ps5693 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-23b55a92 ps39\">31 December 2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9013 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:81.17pt\"></span></span><span class=\"ps9012\">2,509,059</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9015 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:93.94pt\"></span></span><span class=\"ps9014\">38,910</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9016 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:99.11pt\"></span></span><span class=\"ps5280\">6,679</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9018 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9017\">600,076</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9019 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:81.17pt\"></span></span><span class=\"ps9012\">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=\"ps9020 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-b07b4361 ps39\">Accumulated depreciation and impairment<span class=\"f ps40\"> </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=\"ps9021 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-1bac868e ps39\">Beginning of financial year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9022 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8983\">104,119</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9023 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8989\">6,541</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9024 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8989\">1,505</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9025 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9026 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8983\">112,165</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps6601 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-1bac868e ps39\">Depreciation charge<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9027 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8980\">97,615</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9028 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8989\">6,425</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9029 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8989\">1,582</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9030 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9031 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8983\">105,622</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps526 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-1bac868e ps39\">Disposals<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9032 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9033 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9034 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:102.25pt\"></span></span><span class=\"ps9003\">(123)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9035 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9036 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:102.25pt\"></span></span><span class=\"ps9003\">(123)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps4848 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-1bac868e ps39\">Exchange differences<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9037 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9038 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9039 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9040 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9041 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"background-color:#206079;padding:0\"><div class=\"ps1876 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-23b55a92 ps39\">31 December 2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9042 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9017\">201,734</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9043 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:93.94pt\"></span></span><span class=\"ps9014\">12,966</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9044 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:99.11pt\"></span></span><span class=\"ps5280\">2,964</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9045 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9046 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9017\">217,664</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9047 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-b07b4361 ps39\">Net book value<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9048 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:81.17pt\"></span></span><span class=\"ps9012\">2,307,325</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9049 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:93.94pt\"></span></span><span class=\"ps9014\">25,944</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9050 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:99.11pt\"></span></span><span class=\"ps5280\">3,715</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9051 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9017\">600,076</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9052 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:81.17pt\"></span></span><span class=\"ps9012\">2,937,060</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps9060 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Additions during </span><span class=\"f charStyle-c1b8f9f6 ps9054\">2025</span><span class=\"f charStyle-c1b8f9f6 ps9055\"> are mainly driven by newbuild vessels of P-class vessels of </span><span class=\"f charStyle-c1b8f9f6 ps9056\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9057\"> </span><span class=\"f charStyle-c1b8f9f6 ps9058\">199</span><span class=\"f charStyle-c1b8f9f6 ps9059\"> million, newbuild </span></div><div class=\"ps9068 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">A-class vessels of EUR </span><span class=\"f charStyle-c1b8f9f6 ps9061\">385</span><span class=\"f charStyle-c1b8f9f6 ps9062\"> million, newbuild M-class vessels of EUR </span><span class=\"f charStyle-c1b8f9f6 ps9063\">436</span><span class=\"f charStyle-c1b8f9f6 ps9064\"> million, and vessel upgrades of</span><span class=\"f charStyle-c1b8f9f6 ps9065\"> </span><span class=\"f charStyle-c1b8f9f6 ps9066\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9067\"> </span></div><div class=\"ps9073 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">48</span><span class=\"f charStyle-c1b8f9f6 ps9069\"> million</span><span class=\"f charStyle-c1b8f9f6 ps9070\">. In </span><span class=\"f charStyle-c1b8f9f6 ps9071\">2025</span><span class=\"f charStyle-c1b8f9f6 ps9072\">, Wind Pace, Wind Mover, Wind Maker and Wind Ally vessels were delivered and </span></div><div class=\"ps9075 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">transferred from asset under construc</span><span class=\"f charStyle-c1b8f9f6 ps9074\">tion to vessels.</span></div><div class=\"ps9060 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Borrowing costs (including cash and non-cash items) for </span><span class=\"f charStyle-c1b8f9f6 ps9076\">2025</span><span class=\"f charStyle-c1b8f9f6 ps9077\"> have been capitalised in a total amount of </span></div><div class=\"ps9068 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9078\"> </span><span class=\"f charStyle-c1b8f9f6 ps9079\">53.9\u00a0million</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\">19.7\u00a0million</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\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9088\"> </span><span class=\"f charStyle-c1b8f9f6 ps9089\">7.1\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9090\">). The capitalisation rate used to determine the </span></div><div class=\"ps9073 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">amount of borrowing costs to be capitalised is the weighted average interest rate applicable to the </span></div><div class=\"ps9075 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Company\u2019s general borrowings during the reporting period, being </span><span class=\"f charStyle-c1b8f9f6 ps9091\">6.05%</span><span class=\"f charStyle-c1b8f9f6 ps9092\"> </span><span class=\"f charStyle-c1b8f9f6 ps9093\">(</span><span class=\"f charStyle-c1b8f9f6 ps9094\">2024</span><span class=\"f charStyle-c1b8f9f6 ps9095\">: </span><span class=\"f charStyle-c1b8f9f6 ps9096\">7.6%</span><span class=\"f charStyle-c1b8f9f6 ps9097\">; </span><span class=\"f charStyle-c1b8f9f6 ps9098\">2023</span><span class=\"f charStyle-c1b8f9f6 ps9099\">: </span><span class=\"f charStyle-c1b8f9f6 ps9100\">5.5%</span><span class=\"f charStyle-c1b8f9f6 ps9101\">). </span></div></div><div class=\"ps7512 ss0\"><div class=\"ss642 ws0 ps67\"><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=\"ps37 ss676\"><div><div class=\"ps8967 ss675\"><span class=\"f charStyle-4979afbe ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8969 ss678\"><div><div class=\"ps5584 ss677\"><span class=\"f charStyle-281247bf ps8968\">Vessels<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8971 ss678\"><div><div class=\"ps5584 ss677\"><span class=\"f charStyle-281247bf ps8970\">Dry dock<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8973 ss678\"><div><div class=\"ps5584 ss677\"><span class=\"f charStyle-281247bf ps8972\">Other fixtures and fittings<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8975 ss678\"><div><div class=\"ps5584 ss677\"><span class=\"f charStyle-281247bf ps8974\">Assets under construction<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8977 ss678\"><div><div class=\"ps5584 ss677\"><span class=\"f charStyle-281247bf ps8976\">Total<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8890 ss681\"><div><div class=\"ps741 ss675\"><span class=\"f charStyle-b07b4361 ps39\">Cost 2024<span class=\"f ps40\"> </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=\"ps2163 ss681\"><div><div class=\"ps741 ss675\"><span class=\"f charStyle-1bac868e ps630\">Beginning of financial year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9102 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8983\">566,360</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9103 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8989\">9,135</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9104 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:107.67pt\"></span></span><span class=\"ps8987\">979</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9105 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8983\">571,745</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9106 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:84.37pt\"></span></span><span class=\"ps8978\">1,148,219</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps5204 ss681\"><div><div class=\"ps741 ss675\"><span class=\"f charStyle-1bac868e ps630\">Additions<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9107 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8989\">8,029</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9108 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8989\">4,377</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9109 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8980\">12,680</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9110 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8983\">624,679</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9111 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8983\">649,765</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps4123 ss681\"><div><div class=\"ps741 ss675\"><span class=\"f charStyle-1bac868e ps630\">Transfer from assets under construction<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9112 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8983\">468,678</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9113 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8989\">4,000</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9114 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9116 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:85.75pt\"></span></span><span class=\"ps9115\">(472,678)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9117 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps1812 ss681\"><div><div class=\"ps741 ss675\"><span class=\"f charStyle-1bac868e ps630\">Disposals<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9119 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:95.45pt\"></span></span><span class=\"ps9118\">(5,146)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9120 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9121 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:102.25pt\"></span></span><span class=\"ps9003\">(306)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9122 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9123 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:95.45pt\"></span></span><span class=\"ps9118\">(5,452)</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps2149 ss681\"><div><div class=\"ps741 ss675\"><span class=\"f charStyle-1bac868e ps630\">Exchange differences<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9124 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8980\">18,743</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9125 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:107.67pt\"></span></span><span class=\"ps8987\">132</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9126 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:107.67pt\"></span></span><span class=\"ps8987\">160</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9127 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8980\">12,864</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9128 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8980\">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=\"ps2278 ss681\"><div><div class=\"ps741 ss675\"><span class=\"f charStyle-23b55a92 ps39\">31 December 2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9129 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:81.17pt\"></span></span><span class=\"ps9012\">1,056,664</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9130 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:93.94pt\"></span></span><span class=\"ps9014\">17,644</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9131 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:93.94pt\"></span></span><span class=\"ps9014\">13,513</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9132 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9017\">736,610</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9133 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:81.17pt\"></span></span><span class=\"ps9012\">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=\"ps6357 ss683\"><div><div class=\"ps2182 ss675\"><span class=\"f charStyle-b07b4361 ps39\">Accumulated depreciation and impairment<span class=\"f ps40\"> </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=\"ps9134 ss681\"><div><div class=\"ps741 ss675\"><span class=\"f charStyle-1bac868e ps630\">Beginning of financial year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9135 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8980\">58,727</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9136 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8989\">3,548</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9137 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:107.67pt\"></span></span><span class=\"ps8987\">312</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9138 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9139 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8980\">62,587</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps5545 ss681\"><div><div class=\"ps741 ss675\"><span class=\"f charStyle-1bac868e ps630\">Depreciation charge<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9140 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8980\">50,571</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9141 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8989\">3,125</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9142 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8989\">1,166</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9143 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9144 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8980\">54,862</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps5711 ss681\"><div><div class=\"ps741 ss675\"><span class=\"f charStyle-1bac868e ps630\">Disposals<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9145 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:95.45pt\"></span></span><span class=\"ps9118\">(5,000)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9146 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9147 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:102.25pt\"></span></span><span class=\"ps9003\">(306)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9148 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9149 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:95.45pt\"></span></span><span class=\"ps9118\">(5,306)</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps795 ss681\"><div><div class=\"ps741 ss675\"><span class=\"f charStyle-1bac868e ps630\">Impairment on disposal<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9150 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9151 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9152 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9153 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9154 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps6842 ss681\"><div><div class=\"ps741 ss675\"><span class=\"f charStyle-1bac868e ps630\">Exchange differences<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9155 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:102.25pt\"></span></span><span class=\"ps9003\">(179)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9156 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:102.25pt\"></span></span><span class=\"ps9003\">(132)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9157 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:107.67pt\"></span></span><span class=\"ps8987\">333</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9158 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9160 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:112.52pt\"></span></span><span class=\"ps9159\">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=\"ps4654 ss681\"><div><div class=\"ps741 ss675\"><span class=\"f charStyle-23b55a92 ps39\">31 December 2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9161 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9017\">104,119</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9162 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:99.11pt\"></span></span><span class=\"ps5280\">6,541</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9163 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:99.11pt\"></span></span><span class=\"ps5280\">1,505</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9164 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9165 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9017\">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=\"ps9166 ss681\"><div><div class=\"ps741 ss675\"><span class=\"f charStyle-b07b4361 ps39\">Net book value<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9167 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9017\">952,545</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9168 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:93.94pt\"></span></span><span class=\"ps9014\">11,103</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9169 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:93.94pt\"></span></span><span class=\"ps9014\">12,008</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9170 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9017\">736,610</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9171 ss682\"><div><div class=\"ps741 ss677\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:81.17pt\"></span></span><span class=\"ps9012\">1,712,266</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps9178 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Additions during </span><span class=\"f charStyle-c1b8f9f6 ps9054\">2024</span><span class=\"f charStyle-c1b8f9f6 ps9173\"> are mainly driven by newbuild P-class vessels of </span><span class=\"f charStyle-c1b8f9f6 ps9174\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9175\"> </span><span class=\"f charStyle-c1b8f9f6 ps9176\">290\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9177\">, newbuild A-class </span></div><div class=\"ps9189 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">vessels of </span><span class=\"f charStyle-c1b8f9f6 ps9179\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9180\"> </span><span class=\"f charStyle-c1b8f9f6 ps9181\">114\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9182\">, newbuild M-class vessels of </span><span class=\"f charStyle-c1b8f9f6 ps9183\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9184\"> </span><span class=\"f charStyle-c1b8f9f6 ps9185\">103\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9186\">, O-class main crane upgrades of </span><span class=\"f charStyle-c1b8f9f6 ps9187\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9188\"> </span></div><div class=\"ps9197 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">62\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9190\">, and vessel upgrades of </span><span class=\"f charStyle-c1b8f9f6 ps9191\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9192\"> </span><span class=\"f charStyle-c1b8f9f6 ps9193\">54\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9194\">. In </span><span class=\"f charStyle-c1b8f9f6 ps9195\">2024</span><span class=\"f charStyle-c1b8f9f6 ps9196\">, Wind Peak vessel was delivered and transferred </span></div><div class=\"ps9198 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">from asset under construction to vessels.</span></div><div class=\"ps9178 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Borrowing costs for </span><span class=\"f charStyle-c1b8f9f6 ps9200\">2024</span><span class=\"f charStyle-c1b8f9f6 ps9201\"> have been capitalised for a total of </span><span class=\"f charStyle-c1b8f9f6 ps9202\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9203\"> </span><span class=\"f charStyle-c1b8f9f6 ps9204\">19.7\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9205\"> (</span><span class=\"f charStyle-c1b8f9f6 ps9206\">2023</span><span class=\"f charStyle-c1b8f9f6 ps9207\">: </span><span class=\"f charStyle-c1b8f9f6 ps9208\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9209\"> </span><span class=\"f charStyle-c1b8f9f6 ps9210\">7.1\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9211\">). The </span></div><div class=\"ps9189 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">capitalisation rate used to determine the amount of borrowing costs to be capitalised is the weighted </span></div><div class=\"ps9197 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">average interest rate applicable to the Company\u2019s general borrowings during the reporting period, being </span></div><div class=\"ps9198 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">7.6%</span><span class=\"f charStyle-c1b8f9f6 ps9212\"> (</span><span class=\"f charStyle-c1b8f9f6 ps9213\">2023</span><span class=\"f charStyle-c1b8f9f6 ps9214\">: </span><span class=\"f charStyle-c1b8f9f6 ps9215\">5.5%</span><span class=\"f charStyle-c1b8f9f6 ps9216\">). </span></div><div class=\"ps9289 ss0\"><div class=\"ss642 ws0 ps67\"><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=\"ps37 ss684\"><div><div class=\"ps9217 ss675\"><span class=\"f charStyle-4979afbe ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8969 ss685\"><div><div class=\"ps6897 ss677\"><span class=\"f charStyle-281247bf ps8968\">Vessels<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8971 ss685\"><div><div class=\"ps6897 ss677\"><span class=\"f charStyle-281247bf ps8970\">Dry dock<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8973 ss685\"><div><div class=\"ps6897 ss677\"><span class=\"f charStyle-281247bf ps8972\">Other fixtures and fittings<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8975 ss685\"><div><div class=\"ps6897 ss677\"><span class=\"f charStyle-281247bf ps8974\">Assets under construction<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8977 ss685\"><div><div class=\"ps6897 ss677\"><span class=\"f charStyle-281247bf ps8976\">Total<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps1025 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-b07b4361 ps39\">Cost 2023<span class=\"f ps40\"> </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=\"ps7536 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-1bac868e ps630\">Beginning of financial year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9218 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8983\">282,282</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9219 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8989\">9,261</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9220 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:107.67pt\"></span></span><span class=\"ps8987\">536</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9221 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8983\">356,163</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9222 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8983\">648,242</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps9223 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-1bac868e ps630\">Acquisition of businesses<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9224 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8983\">296,536</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9225 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:107.67pt\"></span></span><span class=\"ps8987\">171</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9226 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:107.67pt\"></span></span><span class=\"ps8987\">599</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9227 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8983\">144,219</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9228 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:91.17pt\"></span></span><span class=\"ps8983\">441,525</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps653 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-1bac868e ps630\">Additions<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9229 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:107.67pt\"></span></span><span class=\"ps8987\">227</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9230 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9232 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:117.37pt\"></span></span><span class=\"ps9231\">3</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9233 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8980\">73,169</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9234 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8980\">73,399</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps55 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-1bac868e ps630\">Disposals<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9235 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:95.45pt\"></span></span><span class=\"ps9118\">(8,002)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9236 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:102.25pt\"></span></span><span class=\"ps9003\">(291)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9237 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9238 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9239 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:95.45pt\"></span></span><span class=\"ps9118\">(8,293)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps6063 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-1bac868e ps630\">Exchange differences<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9240 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:95.45pt\"></span></span><span class=\"ps9118\">(4,683)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9242 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:111.95pt\"></span></span><span class=\"ps9241\">(6)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9243 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:102.25pt\"></span></span><span class=\"ps9003\">(159)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9244 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:95.45pt\"></span></span><span class=\"ps9118\">(1,806)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9245 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:95.45pt\"></span></span><span class=\"ps9118\">(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=\"ps5593 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-23b55a92 ps39\">December 31, 2023<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9246 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9017\">566,360</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9247 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:99.11pt\"></span></span><span class=\"ps5280\">9,135</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9249 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:106.71pt\"></span></span><span class=\"ps9248\">979</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9250 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9017\">571,745</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9251 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:81.17pt\"></span></span><span class=\"ps9012\">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=\"ps2220 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-b07b4361 ps39\">Accumulated depreciation and impairment<span class=\"f ps40\"> </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=\"ps2224 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-1bac868e ps630\">Beginning of financial year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9252 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8980\">39,570</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9253 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8989\">2,023</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9254 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:107.67pt\"></span></span><span class=\"ps8987\">445</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9255 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9256 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8980\">42,038</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps3772 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-1bac868e ps630\">Depreciation charge<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9257 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8980\">20,847</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9258 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8989\">1,637</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9259 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:112.52pt\"></span></span><span class=\"ps9159\">19</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9260 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9261 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:96.02pt\"></span></span><span class=\"ps8980\">22,503</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps3778 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-1bac868e ps630\">Disposals<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9262 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:95.45pt\"></span></span><span class=\"ps9118\">(5,722)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9263 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:102.25pt\"></span></span><span class=\"ps9003\">(108)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9264 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9265 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9266 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:95.45pt\"></span></span><span class=\"ps9118\">(5,830)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5740 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-1bac868e ps630\">Impairment on disposal<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9267 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8989\">5,000</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9268 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9269 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9270 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9271 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:100.87pt\"></span></span><span class=\"ps8989\">5,000</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps6178 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-1bac868e ps630\">Exchange differences<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9272 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:102.25pt\"></span></span><span class=\"ps9003\">(968)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9273 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:111.95pt\"></span></span><span class=\"ps9241\">(4)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9274 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:102.25pt\"></span></span><span class=\"ps9003\">(152)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9275 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9276 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:95.45pt\"></span></span><span class=\"ps9118\">(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=\"ps9277 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-23b55a92 ps39\">December 31, 2023<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9278 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:93.94pt\"></span></span><span class=\"ps9014\">58,727</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9279 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:99.11pt\"></span></span><span class=\"ps5280\">3,548</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9280 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:106.71pt\"></span></span><span class=\"ps9248\">312</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9281 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:113.22pt\"></span></span><span class=\"ps8999\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9282 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:93.94pt\"></span></span><span class=\"ps9014\">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=\"ps9283 ss679\"><div><div class=\"ps435 ss675\"><span class=\"f charStyle-b07b4361 ps39\">Net book value<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9284 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9017\">507,633</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9285 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:99.11pt\"></span></span><span class=\"ps5280\">5,587</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9286 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:106.71pt\"></span></span><span class=\"ps9248\">667</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9287 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:88.77pt\"></span></span><span class=\"ps9017\">571,745</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9288 ss680\"><div><div class=\"ps435 ss677\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:81.17pt\"></span></span><span class=\"ps9012\">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 ps183\">Note 13</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Property, Plant and Equipment<span id=\"ic79b364bf8f54326951fd4a1af7bb83e\"></span></span></div><div class=\"ps6975 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-cd31f1a5 ps183\">Continued from previous page</span></div><div class=\"ps6997 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Due to the business combination with Eneti, the Group\u2019s property, plant, and equipment increased by </span><span class=\"f charStyle-c1b8f9f6 ps9291\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9292\"> </span></div><div class=\"ps9296 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">441.5\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9293\"> in </span><span class=\"f charStyle-c1b8f9f6 ps9294\">2023</span><span class=\"f charStyle-c1b8f9f6 ps9295\">. This increase primarily comprised the operating vessels Wind Scylla and Wind Zaratan </span></div><div class=\"ps9302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">(</span><span class=\"f charStyle-c1b8f9f6 ps829\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps830\"> </span><span class=\"f charStyle-c1b8f9f6 ps831\">206\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9297\"> and </span><span class=\"f charStyle-c1b8f9f6 ps9298\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9299\"> </span><span class=\"f charStyle-c1b8f9f6 ps9300\">87\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9301\">, respectively) as well as the newbuilds under construction, including the </span></div><div class=\"ps9307 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">M-class down payments for </span><span class=\"f charStyle-c1b8f9f6 ps9303\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9304\"> </span><span class=\"f charStyle-c1b8f9f6 ps9305\">144\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9306\">.</span></div><div class=\"ps2992 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Additions during </span><span class=\"f charStyle-c1b8f9f6 ps9054\">2023</span><span class=\"f charStyle-c1b8f9f6 ps9055\"> were mainly driven by down payments of </span><span class=\"f charStyle-c1b8f9f6 ps9308\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9309\"> </span><span class=\"f charStyle-c1b8f9f6 ps9310\">42\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9311\"> for new P-class installation </span></div><div class=\"ps2993 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">vessels (</span><span class=\"f charStyle-c1b8f9f6 ps9312\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps8968\"> </span><span class=\"f charStyle-c1b8f9f6 ps9313\">15.4\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9314\">), the new A-class FIVs (foundation installation vessels) (</span><span class=\"f charStyle-c1b8f9f6 ps9315\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9316\"> </span><span class=\"f charStyle-c1b8f9f6 ps9317\">3.8\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9318\">) and </span></div><div class=\"ps2994 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">instalments for the main cranes for both Wind Orca (</span><span class=\"f charStyle-c1b8f9f6 ps9319\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9320\"> </span><span class=\"f charStyle-c1b8f9f6 ps9321\">16.0\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9322\">) and Wind Osprey (</span><span class=\"f charStyle-c1b8f9f6 ps9323\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9324\"> </span><span class=\"f charStyle-c1b8f9f6 ps9325\">6.8\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9326\">), as </span></div><div class=\"ps9329 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">presented above under assets under construction. In addition, assets under construction include </span><span class=\"f charStyle-c1b8f9f6 ps9327\">EUR</span><span class=\"f charStyle-58d8bcbe ps9328\"> </span></div><div class=\"ps8883 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">7.6\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9330\"> 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 ps9331\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9332\"> </span></div><div class=\"ps3343 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">5.7\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9330\"> of assets related to future projects that have not yet commenced.</span></div><div class=\"ps9339 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Borrowing costs for </span><span class=\"f charStyle-c1b8f9f6 ps9333\">2023</span><span class=\"f charStyle-c1b8f9f6 ps9334\"> were capitalised in a total amount of </span><span class=\"f charStyle-c1b8f9f6 ps9335\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9336\"> </span><span class=\"f charStyle-c1b8f9f6 ps9337\">7.1\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9338\">. The capitalisation rate used </span></div><div class=\"ps9340 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">to determine the amount of borrowing costs to be capitalised is the weighted average interest rate </span></div><div class=\"ps9343 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">applicable to the Company\u2019s general borrowings during the reporting period, being </span><span class=\"f charStyle-c1b8f9f6 ps9341\">5.5%</span><span class=\"f charStyle-c1b8f9f6 ps9342\">.</span></div><div class=\"ps9346 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Disposals during </span><span class=\"f charStyle-c1b8f9f6 ps9344\">2023</span><span class=\"f charStyle-c1b8f9f6 ps9345\"> were mainly driven by the main cranes upgraded on both O-class vessels, as well as </span></div><div class=\"ps9347 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">impairment recognised. For further details, please refer to Note 5.</span></div><div class=\"ps9348 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies<span id=\"i0ddbd7e4d5ee4f2694b6407c8d48253e\"></span></span></div><div class=\"ps7332 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Property, plant and equipment are recognised at cost less accumulated depreciation and accumulated </span></div><div class=\"ps8877 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">impairment losses.</span></div><div class=\"ps6980 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The cost of an item of property, plant and equipment initially recognised includes its purchase price and any </span></div><div class=\"ps6981 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">costs that are directly attributable to bringing the asset to the location and condition necessary for it to be </span></div><div class=\"ps6984 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">capable of operating in the manner intended by management.</span></div><div class=\"ps6985 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Subsequent expenditure relating to property, plant and equipment that has already been recognised is </span></div><div class=\"ps7362 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">added to the carrying amount of the asset only when it is probable that future economic benefits associated </span></div><div class=\"ps9349 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">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=\"ps9350 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">maintenance expenses are recognised in profit or loss as incurred.</span></div><div class=\"ps9352 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">To maintain operational capability, the vessels are required to undergo dry-docking procedures every </span><span class=\"f charStyle-c1b8f9f6 ps9351\">five </span></div><div class=\"ps9353 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">years</span><span class=\"f charStyle-c1b8f9f6 ps8115\">. The costs of the dry-docking procedures are capitalised at cost, including any costs that are directly </span></div><div class=\"ps9354 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">attributable to bringing the vessels to the location and condition necessary for the dry-docking procedures.</span></div><div class=\"ps8949 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Depreciation is calculated using the straight-line method to allocate their depreciable amounts over the </span></div><div class=\"ps9356 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">assets\u2019 estimated useful life. </span><span class=\"f charStyle-c1b8f9f6 ps9355\">The estimated useful lives are as follows:</span></div><div class=\"ps9364 ss0\"><div class=\"ss176 ws0 ps67\"><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=\"ps8588 ss687\"><div><div class=\"ps41 ss686\"><span class=\"f charStyle-a2ac8934 ps39\">Useful life<span class=\"f ps40\"> </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=\"ps43 ss688\"><div><div class=\"ps748 ss655\"><span class=\"f charStyle-2b5af115 ps39\">Vessels and furnished equipment<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:1pt solid #000;padding:0\"><div class=\"ps9358 ss689\"><div><div class=\"ps748 ss686\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps39\">Up to </span><span class=\"f charStyle-1770e19e ps9357\">25 years</span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps5644 ss688\"><div><div class=\"ps748 ss655\"><span class=\"f charStyle-2b5af115 ps39\">Drydock<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9359 ss689\"><div><div class=\"ps748 ss686\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps39\">5 years</span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps2259 ss688\"><div><div class=\"ps748 ss655\"><span class=\"f charStyle-2b5af115 ps39\">Cars<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps9360 ss689\"><div><div class=\"ps748 ss686\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps39\">5 years</span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps5527 ss688\"><div><div class=\"ps748 ss655\"><span class=\"f charStyle-2b5af115 ps39\">Other fixtures and fittings<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9363 ss689\"><div><div class=\"ps748 ss686\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps39\">2</span><span class=\"f charStyle-1770e19e ps9361\"> to </span><span class=\"f charStyle-1770e19e ps9362\">3 years</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6997 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The estimated useful life of the vessels of up to </span><span class=\"f charStyle-c1b8f9f6 ps9365\">25 years</span><span class=\"f charStyle-c1b8f9f6 ps9366\"> has been determined by an external consultant </span></div><div class=\"ps9296 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">through a fatigue analysis based on the technical specification of the vessels, whereas for Wind Peak, the </span></div><div class=\"ps9302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">estimated useful life has been determined based on an internal technical analysis, validated by an external </span></div><div class=\"ps9307 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">expert. The estimated useful life of these vessels depends on the initial delivery date. </span></div><div class=\"ps2992 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Prior to their acquisition, Wind Orca and Wind Osprey, had already been in use for </span><span class=\"f charStyle-c1b8f9f6 ps9367\">eight years</span><span class=\"f charStyle-c1b8f9f6 ps9368\">, therefore the </span></div><div class=\"ps2993 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">remaining useful life of these vessels is estimated at </span><span class=\"f charStyle-c1b8f9f6 ps9369\">17 years</span><span class=\"f charStyle-c1b8f9f6 ps9370\"> for all components except for the jacking </span></div><div class=\"ps2994 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">system and the main crane, which have a remaining useful life of </span><span class=\"f charStyle-c1b8f9f6 ps9371\">three years</span><span class=\"f charStyle-c1b8f9f6 ps9372\"> from the acquisition date. For </span></div><div class=\"ps3313 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Wind Scylla and Wind Zaratan, the remaining useful lives at the acquisition date were assessed to be </span><span class=\"f charStyle-c1b8f9f6 ps9373\">17</span><span class=\"f charStyle-c1b8f9f6 ps9374\"> and </span></div><div class=\"ps3314 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">14 years</span><span class=\"f charStyle-c1b8f9f6 ps9375\"> respectively, and all components are assigned the same useful life. Hull and steel components have </span></div><div class=\"ps3315 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">a salvage value of up to</span><span class=\"f charStyle-c1b8f9f6 ps9376\"> </span><span class=\"f charStyle-c1b8f9f6 ps9377\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9378\"> </span><span class=\"f charStyle-c1b8f9f6 ps9379\">15\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9380\"> per vessel at the end of their useful lives. Both the salvage value and </span></div><div class=\"ps3316 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">the residual value are estimated as the lightweight tonnage of each vessel multiplied by the scrap value per </span></div><div class=\"ps3317 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">tonne. Depreciation is based on costs less the estimated residual value.</span></div><div class=\"ps3120 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Further information is provided in Note 2.4, Material accounting judgements, estimates and assumptions, in </span></div><div class=\"ps3121 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">relation to vessels acquired through the business combination.</span></div><div class=\"ps3128 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The residual value, useful life, and methods of depreciation of property, plant, and equipment are reviewed </span></div><div class=\"ps3129 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">at each financial year end and adjusted accordingly, if appropriate.</span></div><div class=\"ps9381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Borrowing costs<span id=\"i6256ae5b87dc48b2a1ee275c61305707\"></span></span></div><div class=\"ps9382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Borrowing costs are capitalised in accordance with IAS 23, where borrowing costs directly attributable to the </span></div><div class=\"ps9383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">construction of assets are capitalised until the asset is substantially ready for its intended use. Borrowing </span></div><div class=\"ps9384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">costs consist of interest and other costs incurred by the Group incurs in connection with the borrowing of </span></div><div class=\"ps9385 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">funds, including guarantee fees provided by related parties.</span></div><div class=\"ps9386 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Impairment of non-financial assets <span id=\"ied66e0bde3da4c348bdf3ba8c64c7cb7\"></span></span></div><div class=\"ps9387 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Property, plant and equipment and right-of-use assets are tested for impairment whenever there is </span></div><div class=\"ps9388 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">objective evidence or an indication that these assets may be impaired. Refer to note 12 for further </span></div><div class=\"ps7937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">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-559": {
   "value": "<div class=\"ps9348 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies<span id=\"i0ddbd7e4d5ee4f2694b6407c8d48253e\"></span></span></div><div class=\"ps7332 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Property, plant and equipment are recognised at cost less accumulated depreciation and accumulated </span></div><div class=\"ps8877 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">impairment losses.</span></div><div class=\"ps6980 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The cost of an item of property, plant and equipment initially recognised includes its purchase price and any </span></div><div class=\"ps6981 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">costs that are directly attributable to bringing the asset to the location and condition necessary for it to be </span></div><div class=\"ps6984 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">capable of operating in the manner intended by management.</span></div><div class=\"ps6985 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Subsequent expenditure relating to property, plant and equipment that has already been recognised is </span></div><div class=\"ps7362 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">added to the carrying amount of the asset only when it is probable that future economic benefits associated </span></div><div class=\"ps9349 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">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=\"ps9350 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">maintenance expenses are recognised in profit or loss as incurred.</span></div><div class=\"ps9352 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">To maintain operational capability, the vessels are required to undergo dry-docking procedures every </span><span class=\"f charStyle-c1b8f9f6 ps9351\">five </span></div><div class=\"ps9353 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">years</span><span class=\"f charStyle-c1b8f9f6 ps8115\">. The costs of the dry-docking procedures are capitalised at cost, including any costs that are directly </span></div><div class=\"ps9354 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">attributable to bringing the vessels to the location and condition necessary for the dry-docking procedures.</span></div><div class=\"ps8949 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Depreciation is calculated using the straight-line method to allocate their depreciable amounts over the </span></div><div class=\"ps9356 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">assets\u2019 estimated useful life. </span><span class=\"f charStyle-c1b8f9f6 ps9355\">The estimated useful lives are as follows:</span></div><div class=\"ps9364 ss0\"><div class=\"ss176 ws0 ps67\"><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=\"ps8588 ss687\"><div><div class=\"ps41 ss686\"><span class=\"f charStyle-a2ac8934 ps39\">Useful life<span class=\"f ps40\"> </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=\"ps43 ss688\"><div><div class=\"ps748 ss655\"><span class=\"f charStyle-2b5af115 ps39\">Vessels and furnished equipment<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:1pt solid #000;padding:0\"><div class=\"ps9358 ss689\"><div><div class=\"ps748 ss686\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps39\">Up to </span><span class=\"f charStyle-1770e19e ps9357\">25 years</span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps5644 ss688\"><div><div class=\"ps748 ss655\"><span class=\"f charStyle-2b5af115 ps39\">Drydock<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9359 ss689\"><div><div class=\"ps748 ss686\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps39\">5 years</span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps2259 ss688\"><div><div class=\"ps748 ss655\"><span class=\"f charStyle-2b5af115 ps39\">Cars<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps9360 ss689\"><div><div class=\"ps748 ss686\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps39\">5 years</span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps5527 ss688\"><div><div class=\"ps748 ss655\"><span class=\"f charStyle-2b5af115 ps39\">Other fixtures and fittings<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9363 ss689\"><div><div class=\"ps748 ss686\" style=\"font-size:12pt\"><span class=\"f charStyle-1770e19e ps39\">2</span><span class=\"f charStyle-1770e19e ps9361\"> to </span><span class=\"f charStyle-1770e19e ps9362\">3 years</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6997 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The estimated useful life of the vessels of up to </span><span class=\"f charStyle-c1b8f9f6 ps9365\">25 years</span><span class=\"f charStyle-c1b8f9f6 ps9366\"> has been determined by an external consultant </span></div><div class=\"ps9296 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">through a fatigue analysis based on the technical specification of the vessels, whereas for Wind Peak, the </span></div><div class=\"ps9302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">estimated useful life has been determined based on an internal technical analysis, validated by an external </span></div><div class=\"ps9307 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">expert. The estimated useful life of these vessels depends on the initial delivery date. </span></div><div class=\"ps2992 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Prior to their acquisition, Wind Orca and Wind Osprey, had already been in use for </span><span class=\"f charStyle-c1b8f9f6 ps9367\">eight years</span><span class=\"f charStyle-c1b8f9f6 ps9368\">, therefore the </span></div><div class=\"ps2993 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">remaining useful life of these vessels is estimated at </span><span class=\"f charStyle-c1b8f9f6 ps9369\">17 years</span><span class=\"f charStyle-c1b8f9f6 ps9370\"> for all components except for the jacking </span></div><div class=\"ps2994 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">system and the main crane, which have a remaining useful life of </span><span class=\"f charStyle-c1b8f9f6 ps9371\">three years</span><span class=\"f charStyle-c1b8f9f6 ps9372\"> from the acquisition date. For </span></div><div class=\"ps3313 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Wind Scylla and Wind Zaratan, the remaining useful lives at the acquisition date were assessed to be </span><span class=\"f charStyle-c1b8f9f6 ps9373\">17</span><span class=\"f charStyle-c1b8f9f6 ps9374\"> and </span></div><div class=\"ps3314 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">14 years</span><span class=\"f charStyle-c1b8f9f6 ps9375\"> respectively, and all components are assigned the same useful life. Hull and steel components have </span></div><div class=\"ps3315 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">a salvage value of up to</span><span class=\"f charStyle-c1b8f9f6 ps9376\"> </span><span class=\"f charStyle-c1b8f9f6 ps9377\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9378\"> </span><span class=\"f charStyle-c1b8f9f6 ps9379\">15\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9380\"> per vessel at the end of their useful lives. Both the salvage value and </span></div><div class=\"ps3316 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">the residual value are estimated as the lightweight tonnage of each vessel multiplied by the scrap value per </span></div><div class=\"ps3317 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">tonne. Depreciation is based on costs less the estimated residual value.</span></div><div class=\"ps3120 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Further information is provided in Note 2.4, Material accounting judgements, estimates and assumptions, in </span></div><div class=\"ps3121 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">relation to vessels acquired through the business combination.</span></div><div class=\"ps3128 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The residual value, useful life, and methods of depreciation of property, plant, and equipment are reviewed </span></div><div class=\"ps3129 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">at each financial year end and adjusted accordingly, if appropriate.</span></div><div class=\"ps9386 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Impairment of non-financial assets <span id=\"ied66e0bde3da4c348bdf3ba8c64c7cb7\"></span></span></div><div class=\"ps9387 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Property, plant and equipment and right-of-use assets are tested for impairment whenever there is </span></div><div class=\"ps9388 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">objective evidence or an indication that these assets may be impaired. Refer to note 12 for further </span></div><div class=\"ps7937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">information impairment testing.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-561": {
   "value": "<div class=\"ps9381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Borrowing costs<span id=\"i6256ae5b87dc48b2a1ee275c61305707\"></span></span></div><div class=\"ps9382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Borrowing costs are capitalised in accordance with IAS 23, where borrowing costs directly attributable to the </span></div><div class=\"ps9383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">construction of assets are capitalised until the asset is substantially ready for its intended use. Borrowing </span></div><div class=\"ps9384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">costs consist of interest and other costs incurred by the Group incurs in connection with the borrowing of </span></div><div class=\"ps9385 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">funds, including guarantee fees provided by related parties.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingCostsExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-560": {
   "value": "<div class=\"ps9381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Borrowing costs<span id=\"i6256ae5b87dc48b2a1ee275c61305707\"></span></span></div><div class=\"ps9382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Borrowing costs are capitalised in accordance with IAS 23, where borrowing costs directly attributable to the </span></div><div class=\"ps9383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">construction of assets are capitalised until the asset is substantially ready for its intended use. Borrowing </span></div><div class=\"ps9384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">costs consist of interest and other costs incurred by the Group incurs in connection with the borrowing of </span></div><div class=\"ps9385 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">funds, including guarantee fees provided by related parties.</span></div><div class=\"ps9646 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Lease liabilities<span id=\"i906fb04c707e4a55b0265cca42759d6e\"></span></span></div><div class=\"ps2688 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">At the inception of a contract, the Group assesses whether the contract contains a lease. A contract contains </span></div><div class=\"ps2689 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">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=\"ps2690 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">consideration. Reassessment is required only when the terms and conditions of the contract are changed.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBorrowingCostsExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-562": {
   "value": "<div class=\"ps1 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 14</span></div><div class=\"ps9389 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Right-of-Use Assets and Lease Liabilities<span id=\"ic6b5dae89040428bb6463360488511eb\"></span></span></div><div class=\"ps9391 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Nature of the Group\u2019s leasing activities<span id=\"i608b922ee0474679823adfd451c47abb\"></span></span></div><div class=\"ps9392 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps183\">Office space</span></div><div class=\"ps9393 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group leases office space for the purpose of office operations. In 2025, the company terminated the </span></div><div class=\"ps9394 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">lease agreement for its office in Great Yarmouth and entered into a lease contract for a new location in </span></div><div class=\"ps9399 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Norwich, effective March 2025, with a binding period of </span><span class=\"f charStyle-c1b8f9f6 ps9395\">10 years</span><span class=\"f charStyle-c1b8f9f6 ps9396\">. Additionally, the Company entered into </span><span class=\"f charStyle-c1b8f9f6 ps9397\">5</span><span class=\"f charStyle-c1b8f9f6 ps9398\">-</span></div><div class=\"ps9404 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">year</span><span class=\"f charStyle-c1b8f9f6 ps9400\"> leases for office premises in Monaco and Taiwan, and a </span><span class=\"f charStyle-c1b8f9f6 ps9401\">3</span><span class=\"f charStyle-c1b8f9f6 ps9402\">-year</span><span class=\"f charStyle-c1b8f9f6 ps9403\"> lease for a new office in Vejle. </span></div><div class=\"ps9405 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps183\">Warehouse facilities</span></div><div class=\"ps9406 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group leases a warehouse facility located in the UK.</span></div><div class=\"ps9464 ss0\"><div class=\"ss176 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=\"ps37 ss691\"><div><div class=\"ps7459 ss690\"><span class=\"f charStyle-4979afbe ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9411 ss633\"><div><div class=\"ps5193 ss338\"><span class=\"f charStyle-281247bf ps3903\">Leasehold <span class=\"f ps40\"> </span></span></div><div class=\"ps5194 ss338\"><span class=\"f charStyle-281247bf ps9410\">equipment</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9413 ss633\"><div><div class=\"ps5193 ss338\"><span class=\"f charStyle-281247bf ps9412\">Warehouse <span class=\"f ps40\"> </span></span></div><div class=\"ps5194 ss338\"><span class=\"f charStyle-281247bf ps6508\">facilities</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9415 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-281247bf ps9414\">Office space<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps1985 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-281247bf ps6093\">Total<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps1987 ss691\"><div><div class=\"ps5627 ss690\"><span class=\"f charStyle-b07b4361 ps39\">Cost 2025<span class=\"f ps40\"> </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=\"ps7536 ss691\"><div><div class=\"ps2702 ss690\"><span class=\"f charStyle-1bac868e ps630\">Beginning of financial year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9416 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9417 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9418 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.02pt\"></span></span><span class=\"ps8327\">13,324</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9419 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.02pt\"></span></span><span class=\"ps8327\">13,324</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps7540 ss691\"><div><div class=\"ps2702 ss690\"><span class=\"f charStyle-1bac868e ps630\">Additions<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9420 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9421 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9423 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.87pt\"></span></span><span class=\"ps9422\">4,122</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9424 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.87pt\"></span></span><span class=\"ps9422\">4,122</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps2306 ss691\"><div><div class=\"ps2702 ss690\"><span class=\"f charStyle-1bac868e ps630\">Disposals<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9425 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9426 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9428 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.25pt\"></span></span><span class=\"ps9427\">(228)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9429 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.25pt\"></span></span><span class=\"ps9427\">(228)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps492 ss691\"><div><div class=\"ps2702 ss690\"><span class=\"f charStyle-1bac868e ps630\">Exchange differences<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9430 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9431 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9432 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9433 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\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=\"ps1041 ss691\"><div><div class=\"ps2702 ss690\"><span class=\"f charStyle-23b55a92 ps39\">31 December 2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9434 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9435 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9437 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.94pt\"></span></span><span class=\"ps9436\">17,218</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9438 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.94pt\"></span></span><span class=\"ps9436\">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=\"ps63 ss691\"><div><div class=\"ps2702 ss690\"><span class=\"f charStyle-b07b4361 ps39\">Accumulated depreciation<span class=\"f ps40\"> </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=\"ps5711 ss691\"><div><div class=\"ps2702 ss690\"><span class=\"f charStyle-1bac868e ps630\">Beginning of financial year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9439 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9440 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9441 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.87pt\"></span></span><span class=\"ps9422\">2,987</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9442 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.87pt\"></span></span><span class=\"ps9422\">2,987</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5551 ss691\"><div><div class=\"ps2702 ss690\"><span class=\"f charStyle-1bac868e ps630\">Depreciation charge<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9443 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9444 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9445 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.87pt\"></span></span><span class=\"ps9422\">1,861</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9446 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.87pt\"></span></span><span class=\"ps9422\">1,861</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps4013 ss691\"><div><div class=\"ps2702 ss690\"><span class=\"f charStyle-1bac868e ps630\">Disposals<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9447 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9448 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9449 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.25pt\"></span></span><span class=\"ps9427\">(228)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9450 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.25pt\"></span></span><span class=\"ps9427\">(228)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps6178 ss691\"><div><div class=\"ps2702 ss690\"><span class=\"f charStyle-1bac868e ps630\">Exchange differences<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9451 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9452 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6184 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9453 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\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=\"ps3790 ss691\"><div><div class=\"ps2702 ss690\"><span class=\"f charStyle-23b55a92 ps39\">31 December 2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9454 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9455 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9457 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.11pt\"></span></span><span class=\"ps9456\">4,620</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9458 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.11pt\"></span></span><span class=\"ps9456\">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=\"ps9459 ss691\"><div><div class=\"ps2702 ss690\"><span class=\"f charStyle-b07b4361 ps39\">Carrying amount<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9460 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9461 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9462 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.94pt\"></span></span><span class=\"ps9436\">12,598</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9463 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.94pt\"></span></span><span class=\"ps9436\">12,598</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7512 ss0\"><div class=\"ss176 ws0 ps67\"><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:18.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps37 ss692\"><div><div class=\"ps9466 ss397\"><span class=\"f charStyle-4979afbe ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5183 ss694\" style=\"overflow:hidden\"><div><div class=\"ps9467 ss693\"><span class=\"f charStyle-281247bf ps4470\">Leasehold <span class=\"f ps40\"> </span></span></div><div class=\"ps9469 ss693\"><span class=\"f charStyle-281247bf ps9468\">equipment</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9472 ss694\" style=\"overflow:hidden\"><div><div class=\"ps9467 ss693\"><span class=\"f charStyle-281247bf ps9470\">Warehouse <span class=\"f ps40\"> </span></span></div><div class=\"ps9469 ss693\"><span class=\"f charStyle-281247bf ps9471\">facilities</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9475 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-281247bf ps9473\">Office space<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps3698 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-281247bf ps9476\">Total<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9477 ss692\"><div><div class=\"ps2579 ss397\"><span class=\"f charStyle-b07b4361 ps39\">Cost 2024<span class=\"f ps40\"> </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:18.75pt\"><td style=\"padding:0\"><div class=\"ps5644 ss692\"><div><div class=\"ps9474 ss397\"><span class=\"f charStyle-1bac868e ps630\">Beginning of financial year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9479 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9478\">464</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9480 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9478\">409</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9482 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.37pt\"></span></span><span class=\"ps9481\">2,261</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9483 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.37pt\"></span></span><span class=\"ps9481\">3,134</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps5277 ss692\"><div><div class=\"ps9474 ss397\"><span class=\"f charStyle-1bac868e ps630\">Acquisition of businesses<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9485 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9484\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9486 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9484\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9488 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31.52pt\"></span></span><span class=\"ps9487\">10,864</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9489 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31.52pt\"></span></span><span class=\"ps9487\">10,864</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps761 ss692\"><div><div class=\"ps9474 ss397\"><span class=\"f charStyle-1bac868e ps630\">Disposals<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9491 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.75pt\"></span></span><span class=\"ps9490\">(464)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9492 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.75pt\"></span></span><span class=\"ps9490\">(429)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9493 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9484\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9494 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.75pt\"></span></span><span class=\"ps9490\">(893)</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps5667 ss692\"><div><div class=\"ps9474 ss397\"><span class=\"f charStyle-1bac868e ps630\">Exchange differences<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9495 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9484\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9497 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.02pt\"></span></span><span class=\"ps9496\">20</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9498 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9478\">199</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9499 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9478\">219</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2205 ss692\"><div><div class=\"ps9474 ss397\"><span class=\"f charStyle-23b55a92 ps39\">31 December 2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9500 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9484\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9501 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9484\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9503 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.44pt\"></span></span><span class=\"ps9502\">13,324</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9504 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.44pt\"></span></span><span class=\"ps9502\">13,324</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps3757 ss692\"><div><div class=\"ps9474 ss397\"><span class=\"f charStyle-b07b4361 ps39\">Accumulated depreciation<span class=\"f ps40\"> </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:18.75pt\"><td style=\"padding:0\"><div class=\"ps4816 ss692\"><div><div class=\"ps9474 ss397\"><span class=\"f charStyle-1bac868e ps630\">Beginning of financial year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9505 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9478\">464</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9506 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.02pt\"></span></span><span class=\"ps9496\">24</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9507 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.37pt\"></span></span><span class=\"ps9481\">1,673</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9508 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.37pt\"></span></span><span class=\"ps9481\">2,161</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps9509 ss692\"><div><div class=\"ps9474 ss397\"><span class=\"f charStyle-1bac868e ps630\">Depreciation charge<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9510 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9484\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9511 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9478\">235</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9512 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.37pt\"></span></span><span class=\"ps9481\">1,144</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9513 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.37pt\"></span></span><span class=\"ps9481\">1,379</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps6306 ss692\"><div><div class=\"ps9474 ss397\"><span class=\"f charStyle-1bac868e ps630\">Disposals<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9514 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.75pt\"></span></span><span class=\"ps9490\">(464)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9515 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.75pt\"></span></span><span class=\"ps9490\">(265)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9516 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9484\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9517 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.75pt\"></span></span><span class=\"ps9490\">(729)</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps6778 ss692\"><div><div class=\"ps9474 ss397\"><span class=\"f charStyle-1bac868e ps630\">Exchange differences<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9518 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9484\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9519 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:52.87pt\"></span></span><span class=\"ps749\">6</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9520 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9478\">170</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9521 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9478\">176</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps4839 ss692\"><div><div class=\"ps9474 ss397\"><span class=\"f charStyle-23b55a92 ps39\">31 December 2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9522 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9484\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9523 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9484\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9525 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.61pt\"></span></span><span class=\"ps9524\">2,987</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9526 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.61pt\"></span></span><span class=\"ps9524\">2,987</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=\"ps6021 ss692\"><div><div class=\"ps9474 ss397\"><span class=\"f charStyle-b07b4361 ps39\">Carrying amount<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9527 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9484\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9528 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9484\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9529 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.44pt\"></span></span><span class=\"ps9502\">10,337</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9530 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.44pt\"></span></span><span class=\"ps9502\">10,337</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7512 ss0\"><div class=\"ss176 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:18.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps37 ss695\"><div><div class=\"ps9466 ss314\"><span class=\"f charStyle-4979afbe ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9533 ss696\" style=\"overflow:hidden\"><div><div class=\"ps9467 ss163\"><span class=\"f charStyle-281247bf ps9531\">Leasehold <span class=\"f ps40\"> </span></span></div><div class=\"ps9469 ss163\"><span class=\"f charStyle-281247bf ps9532\">equipment</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7262 ss696\" style=\"overflow:hidden\"><div><div class=\"ps9467 ss163\"><span class=\"f charStyle-281247bf ps6123\">Warehouse <span class=\"f ps40\"> </span></span></div><div class=\"ps9469 ss163\"><span class=\"f charStyle-281247bf ps9534\">facilities</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9536 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-281247bf ps9535\">Office space<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2129 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-281247bf ps6516\">Total<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9477 ss695\"><div><div class=\"ps2579 ss314\"><span class=\"f charStyle-b07b4361 ps39\">Cost 2023<span class=\"f ps40\"> </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:18.75pt\"><td style=\"padding:0\"><div class=\"ps5644 ss695\"><div><div class=\"ps9474 ss314\"><span class=\"f charStyle-1bac868e ps630\">Beginning of financial year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9537 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">464</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9538 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9539 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6526\">1,681</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9540 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6526\">2,145</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps5277 ss695\"><div><div class=\"ps9474 ss314\"><span class=\"f charStyle-1bac868e ps630\">Acquisition of businesses<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9541 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9542 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">421</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9543 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">612</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9544 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6526\">1,033</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps761 ss695\"><div><div class=\"ps9474 ss314\"><span class=\"f charStyle-1bac868e ps630\">Exchange differences<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9545 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9546 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.1pt\"></span></span><span class=\"ps8800\">(12)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9547 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.1pt\"></span></span><span class=\"ps8800\">(32)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9548 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.1pt\"></span></span><span class=\"ps8800\">(44)</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5667 ss695\"><div><div class=\"ps9474 ss314\"><span class=\"f charStyle-23b55a92 ps39\">31 December 2023<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9549 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8824\">464</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9550 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8824\">409</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9551 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.11pt\"></span></span><span class=\"ps6634\">2,261</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9552 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.11pt\"></span></span><span class=\"ps6634\">3,134</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2205 ss695\"><div><div class=\"ps9474 ss314\"><span class=\"f charStyle-b07b4361 ps39\">Accumulated depreciation<span class=\"f ps40\"> </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:18.75pt\"><td style=\"padding:0\"><div class=\"ps3757 ss695\"><div><div class=\"ps9474 ss314\"><span class=\"f charStyle-1bac868e ps630\">Beginning of financial year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9553 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">381</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9554 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9555 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6526\">1,477</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9556 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6526\">1,858</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps4816 ss695\"><div><div class=\"ps9474 ss314\"><span class=\"f charStyle-1bac868e ps630\">Depreciation charge<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9557 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.52pt\"></span></span><span class=\"ps6657\">83</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9558 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.52pt\"></span></span><span class=\"ps6657\">30</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9559 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">221</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9560 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">334</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps9509 ss695\"><div><div class=\"ps9474 ss314\"><span class=\"f charStyle-1bac868e ps630\">Exchange differences<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9561 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9563 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:54.95pt\"></span></span><span class=\"ps9562\">(6)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9564 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.1pt\"></span></span><span class=\"ps8800\">(25)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9565 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.1pt\"></span></span><span class=\"ps8800\">(31)</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6306 ss695\"><div><div class=\"ps9474 ss314\"><span class=\"f charStyle-23b55a92 ps39\">31 December 2023<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9566 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8824\">464</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9568 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:54.88pt\"></span></span><span class=\"ps9567\">24</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9569 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.11pt\"></span></span><span class=\"ps6634\">1,673</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9570 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.11pt\"></span></span><span class=\"ps6634\">2,161</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=\"ps6778 ss695\"><div><div class=\"ps9474 ss314\"><span class=\"f charStyle-b07b4361 ps39\">Carrying amount<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9571 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9572 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8824\">385</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9573 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8824\">588</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9574 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8824\">973</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7512 ss0\"><div class=\"ss193 ws0 ps67\"><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=\"ps37 ss698\"><div><div class=\"ps9575 ss697\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9576 ss699\"><div><div class=\"ps6223 ss297\"><span class=\"f charStyle-281247bf ps3737\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9577 ss699\"><div><div class=\"ps6223 ss297\"><span class=\"f charStyle-054ead99 ps3737\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5310 ss699\"><div><div class=\"ps6223 ss297\"><span class=\"f charStyle-054ead99 ps3737\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps3702 ss698\"><div><div class=\"ps9578 ss697\"><span class=\"f charStyle-1bac868e ps630\">Lease liabilities at 1 January (current and <span class=\"f ps40\"> </span></span></div><div class=\"ps6223 ss697\"><span class=\"f charStyle-1bac868e ps630\">non-current lease)</span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9579 ss699\"><div><div class=\"ps6223 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7268\">10,971</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9581 ss699\"><div><div class=\"ps6223 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">993</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9582 ss699\"><div><div class=\"ps6223 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">279</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps2163 ss700\"><div><div class=\"ps4288 ss697\"><span class=\"f charStyle-1bac868e ps630\">Acquisition of subsidiaries<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9583 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9584 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9585 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">1,299</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps2167 ss700\"><div><div class=\"ps4288 ss697\"><span class=\"f charStyle-1bac868e ps630\">Additions during the year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9586 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">4,640</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9587 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7268\">11,909</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9588 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps2081 ss700\"><div><div class=\"ps4288 ss697\"><span class=\"f charStyle-1bac868e ps630\">Exchange differences<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9589 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9591 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.27pt\"></span></span><span class=\"ps9590\">30</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9593 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.85pt\"></span></span><span class=\"ps9592\">(16)</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2175 ss700\"><div><div class=\"ps4288 ss697\"><span class=\"f charStyle-1bac868e ps630\">Repayment of lease obligations<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9595 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.2pt\"></span></span><span class=\"ps9594\">(2,072)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9596 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.2pt\"></span></span><span class=\"ps9594\">(1,961)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9598 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46pt\"></span></span><span class=\"ps9597\">(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=\"ps2010 ss700\"><div><div class=\"ps4288 ss697\"><span class=\"f charStyle-b07b4361 ps39\">Total lease liabilities at 31 December<span class=\"f ps40\"> </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=\"ps9599 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7299\">13,539</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9600 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7299\">10,971</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9602 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.46pt\"></span></span><span class=\"ps9601\">993</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8264 ss700\"><div><div class=\"ps4288 ss697\"><span class=\"f charStyle-b07b4361 ps39\">Current<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9604 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-23b55a92 ps9603\">1,057<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9605 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-b07b4361 ps9603\">1,274<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9607 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-b07b4361 ps9606\">601<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps7396 ss700\"><div><div class=\"ps4288 ss697\"><span class=\"f charStyle-b07b4361 ps39\">Non-current<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9609 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-23b55a92 ps9608\">12,482<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9610 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-b07b4361 ps9603\">9,697<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9611 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-b07b4361 ps9606\">392<span class=\"f ps40\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps9613 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Leas interest expenses recognised in profit and loss </span></div><div class=\"ps9614 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps183\">1.<span class=\"f ps40\"> </span></span><span class=\"f charStyle-4ecd4cad ps1761\">Interest expense</span></div><div class=\"ps9618 ss0\"><div class=\"ss193 ws0 ps67\"><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=\"ps37 ss700\"><div><div class=\"ps6200 ss697\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9576 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-281247bf ps3737\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9577 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-054ead99 ps3737\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5310 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-054ead99 ps3737\">2023<span class=\"f ps40\"> </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=\"ps4293 ss702\"><div><div class=\"ps8719 ss697\"><span class=\"f charStyle-1bac868e ps630\">Interest expense on lease liabilities (vessels <span class=\"f ps40\"> </span></span></div><div class=\"ps8720 ss697\"><span class=\"f charStyle-1bac868e ps630\">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=\"ps9615 ss703\"><div><div class=\"ps8720 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">746</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9616 ss703\"><div><div class=\"ps8720 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">428</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9617 ss703\"><div><div class=\"ps8720 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.27pt\"></span></span><span class=\"ps9590\">25</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps4213 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps183\">1.<span class=\"f ps40\"> </span></span><span class=\"f charStyle-4ecd4cad ps1761\">Lease expense not capitalised in lease liabilities</span></div><div class=\"ps9619 ss0\"><div class=\"ss193 ws0 ps67\"><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=\"ps37 ss700\"><div><div class=\"ps6200 ss697\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9576 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-281247bf ps3737\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9577 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-054ead99 ps3737\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5310 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-054ead99 ps3737\">2023<span class=\"f ps40\"> </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=\"ps4293 ss704\"><div><div class=\"ps41 ss697\"><span class=\"f charStyle-1bac868e ps630\">Short-term lease expense<span class=\"f ps40\"> </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=\"ps9615 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">614</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9616 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">477</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9617 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">180</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6947 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Total cas</span><span class=\"f charStyle-c1b8f9f6 ps9620\">h ou</span><span class=\"f charStyle-c1b8f9f6 ps9621\">tflow for all leases in </span><span class=\"f charStyle-c1b8f9f6 ps9622\">2025</span><span class=\"f charStyle-c1b8f9f6 ps9623\">, </span><span class=\"f charStyle-c1b8f9f6 ps9624\">2024</span><span class=\"f charStyle-c1b8f9f6 ps9625\"> and </span><span class=\"f charStyle-c1b8f9f6 ps9626\">2023</span><span class=\"f charStyle-c1b8f9f6 ps9627\"> were</span><span class=\"f charStyle-c1b8f9f6 ps9628\"> </span><span class=\"f charStyle-c1b8f9f6 ps9629\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9630\"> </span><span class=\"f charStyle-c1b8f9f6 ps9631\">2,686</span><span class=\"f charStyle-c1b8f9f6 ps9632\"> thousand</span><span class=\"f charStyle-c1b8f9f6 ps9633\">, </span><span class=\"f charStyle-c1b8f9f6 ps9634\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9635\"> </span><span class=\"f charStyle-c1b8f9f6 ps9636\">1,152\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps9637\"> and </span></div><div class=\"ps9641 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">283\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps9638\"> respectively, excluding variable lease fee (refer to </span><span class=\"f charStyle-c1b8f9f6 ps9639\">Note 24). Please refer to Note 28</span><span class=\"f charStyle-c1b8f9f6 ps9640\"> for </span></div><div class=\"ps9642 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">disclosure on lease commitments. </span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Accounting policies<span id=\"i5b93fa0e4eeb499581f0d02dbf58f2fb\"></span></span></div><div class=\"ps8676 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Right-of-Use Assets <span id=\"if3e7eb2c164547ba99ae198c39355d35\"></span></span></div><div class=\"ps8677 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The Group recognises a right-of-use asset and lease liability at the date on which the underlying asset is </span></div><div class=\"ps8678 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">made available for use. Right-of-use assets are measured at cost, which comprises the initial measurement </span></div><div class=\"ps8679 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">of the lease liability using an incremental borrowing rate adjusted for any lease payments made at or before </span></div><div class=\"ps8680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">the commencement date and any lease incentives received. Any initial direct costs that would not have been </span></div><div class=\"ps8701 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">incurred if the lease had not been obtained are included in to the carrying amount of the right-of-use </span></div><div class=\"ps9643 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">assets.</span></div><div class=\"ps8683 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The right-of-use asset is subsequently measured at cost, less any accumulated depreciation and impairment </span></div><div class=\"ps8684 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">losses, and adjusted for any remeasurement of the lease liability.</span></div><div class=\"ps3200 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Right-of-use assets are depreciated on a straight-line basis over the lease term.</span></div><div class=\"ps9644 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Right-of-use assets are tested for impairment whenever there is objective evidence or an indication that </span></div><div class=\"ps9645 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">these assets may be impaired. For further information regarding impairment testing. please refer to Note 13.</span></div><div class=\"ps9646 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Lease liabilities<span id=\"i906fb04c707e4a55b0265cca42759d6e\"></span></span></div><div class=\"ps2688 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">At the inception of a contract, the Group assesses whether the contract contains a lease. A contract contains </span></div><div class=\"ps2689 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">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=\"ps2690 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">consideration. Reassessment is required only when the terms and conditions of the contract are changed.</span></div><div class=\"ps6997 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">At the commencement date of the lease, the Group recognises lease liabilities measured at the present </span></div><div class=\"ps9296 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">value of lease payments to be made over the lease term. The lease payments include fixed payments </span></div><div class=\"ps9302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">(including in-substance fixed payments) less any lease incentives receivable, variable lease payments that </span></div><div class=\"ps9307 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">depend on an index or a rate, and amounts expected to be paid under residual value guarantees.</span></div><div class=\"ps2992 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Variable lease payments that do not depend on an index or a rate are recognised as expenses in the period </span></div><div class=\"ps2993 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">in which the event or condition that triggers the payment occurs. Utilisation based lease fees are classified <span class=\"f ps40\"> </span></span></div><div class=\"ps2994 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">as variable lease payments.</span></div><div class=\"ps2995 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the </span></div><div class=\"ps2996 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">lease commencement date, as the interest rate implicit in the lease is not readily determinable. After the </span></div><div class=\"ps2997 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">commencement date, the carrying amount of lease liabilities is increased to reflect the accretion of interest </span></div><div class=\"ps2998 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">and reduced by lease payments made.</span></div><div class=\"ps2999 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the </span></div><div class=\"ps3000 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an </span></div><div class=\"ps3127 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">index or rate used to determine such lease payments) or a change in the assessment of an option to </span></div><div class=\"ps3128 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">purchase the underlying asset.</span></div><div class=\"ps9651 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Short-term and low-value leases<span id=\"i47c0a14c77d249589203643c44fd375a\"></span></span></div><div class=\"ps9652 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group has elected not to recognise right-of-use assets and lease liabilities for short-term leases with </span></div><div class=\"ps9382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">lease terms of </span><span class=\"f charStyle-c1b8f9f6 ps7528\">twelve months</span><span class=\"f charStyle-c1b8f9f6 ps9653\"> or less, and for low-value leases. Lease payments relating to these leases are </span></div><div class=\"ps9383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">expensed to profit or loss on a straight-line basis over the lease term. Short-term and low-value leases </span></div><div class=\"ps9384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">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-563": {
   "value": "<div class=\"ps9464 ss0\"><div class=\"ss176 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=\"ps37 ss691\"><div><div class=\"ps7459 ss690\"><span class=\"f charStyle-4979afbe ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9411 ss633\"><div><div class=\"ps5193 ss338\"><span class=\"f charStyle-281247bf ps3903\">Leasehold <span class=\"f ps40\"> </span></span></div><div class=\"ps5194 ss338\"><span class=\"f charStyle-281247bf ps9410\">equipment</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9413 ss633\"><div><div class=\"ps5193 ss338\"><span class=\"f charStyle-281247bf ps9412\">Warehouse <span class=\"f ps40\"> </span></span></div><div class=\"ps5194 ss338\"><span class=\"f charStyle-281247bf ps6508\">facilities</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9415 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-281247bf ps9414\">Office space<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps1985 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-281247bf ps6093\">Total<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps1987 ss691\"><div><div class=\"ps5627 ss690\"><span class=\"f charStyle-b07b4361 ps39\">Cost 2025<span class=\"f ps40\"> </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=\"ps7536 ss691\"><div><div class=\"ps2702 ss690\"><span class=\"f charStyle-1bac868e ps630\">Beginning of financial year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9416 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9417 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9418 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.02pt\"></span></span><span class=\"ps8327\">13,324</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9419 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.02pt\"></span></span><span class=\"ps8327\">13,324</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps7540 ss691\"><div><div class=\"ps2702 ss690\"><span class=\"f charStyle-1bac868e ps630\">Additions<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9420 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9421 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9423 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.87pt\"></span></span><span class=\"ps9422\">4,122</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9424 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.87pt\"></span></span><span class=\"ps9422\">4,122</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps2306 ss691\"><div><div class=\"ps2702 ss690\"><span class=\"f charStyle-1bac868e ps630\">Disposals<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9425 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9426 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9428 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.25pt\"></span></span><span class=\"ps9427\">(228)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9429 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.25pt\"></span></span><span class=\"ps9427\">(228)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps492 ss691\"><div><div class=\"ps2702 ss690\"><span class=\"f charStyle-1bac868e ps630\">Exchange differences<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9430 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9431 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9432 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9433 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\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=\"ps1041 ss691\"><div><div class=\"ps2702 ss690\"><span class=\"f charStyle-23b55a92 ps39\">31 December 2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9434 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9435 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9437 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.94pt\"></span></span><span class=\"ps9436\">17,218</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9438 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.94pt\"></span></span><span class=\"ps9436\">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=\"ps63 ss691\"><div><div class=\"ps2702 ss690\"><span class=\"f charStyle-b07b4361 ps39\">Accumulated depreciation<span class=\"f ps40\"> </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=\"ps5711 ss691\"><div><div class=\"ps2702 ss690\"><span class=\"f charStyle-1bac868e ps630\">Beginning of financial year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9439 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9440 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9441 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.87pt\"></span></span><span class=\"ps9422\">2,987</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9442 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.87pt\"></span></span><span class=\"ps9422\">2,987</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5551 ss691\"><div><div class=\"ps2702 ss690\"><span class=\"f charStyle-1bac868e ps630\">Depreciation charge<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9443 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9444 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9445 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.87pt\"></span></span><span class=\"ps9422\">1,861</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9446 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.87pt\"></span></span><span class=\"ps9422\">1,861</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps4013 ss691\"><div><div class=\"ps2702 ss690\"><span class=\"f charStyle-1bac868e ps630\">Disposals<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9447 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9448 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9449 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.25pt\"></span></span><span class=\"ps9427\">(228)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9450 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.25pt\"></span></span><span class=\"ps9427\">(228)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps6178 ss691\"><div><div class=\"ps2702 ss690\"><span class=\"f charStyle-1bac868e ps630\">Exchange differences<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9451 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9452 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6184 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9453 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\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=\"ps3790 ss691\"><div><div class=\"ps2702 ss690\"><span class=\"f charStyle-23b55a92 ps39\">31 December 2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9454 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9455 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9457 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.11pt\"></span></span><span class=\"ps9456\">4,620</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9458 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.11pt\"></span></span><span class=\"ps9456\">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=\"ps9459 ss691\"><div><div class=\"ps2702 ss690\"><span class=\"f charStyle-b07b4361 ps39\">Carrying amount<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9460 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9461 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.22pt\"></span></span><span class=\"ps8234\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9462 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.94pt\"></span></span><span class=\"ps9436\">12,598</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9463 ss633\"><div><div class=\"ps2702 ss338\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.94pt\"></span></span><span class=\"ps9436\">12,598</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7512 ss0\"><div class=\"ss176 ws0 ps67\"><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:18.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps37 ss692\"><div><div class=\"ps9466 ss397\"><span class=\"f charStyle-4979afbe ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5183 ss694\" style=\"overflow:hidden\"><div><div class=\"ps9467 ss693\"><span class=\"f charStyle-281247bf ps4470\">Leasehold <span class=\"f ps40\"> </span></span></div><div class=\"ps9469 ss693\"><span class=\"f charStyle-281247bf ps9468\">equipment</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9472 ss694\" style=\"overflow:hidden\"><div><div class=\"ps9467 ss693\"><span class=\"f charStyle-281247bf ps9470\">Warehouse <span class=\"f ps40\"> </span></span></div><div class=\"ps9469 ss693\"><span class=\"f charStyle-281247bf ps9471\">facilities</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9475 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-281247bf ps9473\">Office space<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps3698 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-281247bf ps9476\">Total<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9477 ss692\"><div><div class=\"ps2579 ss397\"><span class=\"f charStyle-b07b4361 ps39\">Cost 2024<span class=\"f ps40\"> </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:18.75pt\"><td style=\"padding:0\"><div class=\"ps5644 ss692\"><div><div class=\"ps9474 ss397\"><span class=\"f charStyle-1bac868e ps630\">Beginning of financial year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9479 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9478\">464</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9480 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9478\">409</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9482 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.37pt\"></span></span><span class=\"ps9481\">2,261</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9483 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.37pt\"></span></span><span class=\"ps9481\">3,134</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps5277 ss692\"><div><div class=\"ps9474 ss397\"><span class=\"f charStyle-1bac868e ps630\">Acquisition of businesses<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9485 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9484\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9486 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9484\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9488 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31.52pt\"></span></span><span class=\"ps9487\">10,864</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9489 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31.52pt\"></span></span><span class=\"ps9487\">10,864</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps761 ss692\"><div><div class=\"ps9474 ss397\"><span class=\"f charStyle-1bac868e ps630\">Disposals<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9491 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.75pt\"></span></span><span class=\"ps9490\">(464)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9492 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.75pt\"></span></span><span class=\"ps9490\">(429)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9493 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9484\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9494 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.75pt\"></span></span><span class=\"ps9490\">(893)</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps5667 ss692\"><div><div class=\"ps9474 ss397\"><span class=\"f charStyle-1bac868e ps630\">Exchange differences<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9495 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9484\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9497 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.02pt\"></span></span><span class=\"ps9496\">20</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9498 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9478\">199</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9499 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9478\">219</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2205 ss692\"><div><div class=\"ps9474 ss397\"><span class=\"f charStyle-23b55a92 ps39\">31 December 2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9500 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9484\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9501 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9484\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9503 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.44pt\"></span></span><span class=\"ps9502\">13,324</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9504 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.44pt\"></span></span><span class=\"ps9502\">13,324</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps3757 ss692\"><div><div class=\"ps9474 ss397\"><span class=\"f charStyle-b07b4361 ps39\">Accumulated depreciation<span class=\"f ps40\"> </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:18.75pt\"><td style=\"padding:0\"><div class=\"ps4816 ss692\"><div><div class=\"ps9474 ss397\"><span class=\"f charStyle-1bac868e ps630\">Beginning of financial year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9505 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9478\">464</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9506 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.02pt\"></span></span><span class=\"ps9496\">24</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9507 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.37pt\"></span></span><span class=\"ps9481\">1,673</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9508 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.37pt\"></span></span><span class=\"ps9481\">2,161</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps9509 ss692\"><div><div class=\"ps9474 ss397\"><span class=\"f charStyle-1bac868e ps630\">Depreciation charge<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9510 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9484\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9511 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9478\">235</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9512 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.37pt\"></span></span><span class=\"ps9481\">1,144</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9513 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.37pt\"></span></span><span class=\"ps9481\">1,379</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps6306 ss692\"><div><div class=\"ps9474 ss397\"><span class=\"f charStyle-1bac868e ps630\">Disposals<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9514 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.75pt\"></span></span><span class=\"ps9490\">(464)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9515 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.75pt\"></span></span><span class=\"ps9490\">(265)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9516 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9484\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9517 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.75pt\"></span></span><span class=\"ps9490\">(729)</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps6778 ss692\"><div><div class=\"ps9474 ss397\"><span class=\"f charStyle-1bac868e ps630\">Exchange differences<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9518 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9484\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9519 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:52.87pt\"></span></span><span class=\"ps749\">6</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9520 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9478\">170</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9521 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9478\">176</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps4839 ss692\"><div><div class=\"ps9474 ss397\"><span class=\"f charStyle-23b55a92 ps39\">31 December 2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9522 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9484\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9523 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9484\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9525 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.61pt\"></span></span><span class=\"ps9524\">2,987</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9526 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.61pt\"></span></span><span class=\"ps9524\">2,987</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=\"ps6021 ss692\"><div><div class=\"ps9474 ss397\"><span class=\"f charStyle-b07b4361 ps39\">Carrying amount<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9527 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9484\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9528 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.72pt\"></span></span><span class=\"ps9484\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9529 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.44pt\"></span></span><span class=\"ps9502\">10,337</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9530 ss694\"><div><div class=\"ps9474 ss693\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.44pt\"></span></span><span class=\"ps9502\">10,337</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7512 ss0\"><div class=\"ss176 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:18.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps37 ss695\"><div><div class=\"ps9466 ss314\"><span class=\"f charStyle-4979afbe ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9533 ss696\" style=\"overflow:hidden\"><div><div class=\"ps9467 ss163\"><span class=\"f charStyle-281247bf ps9531\">Leasehold <span class=\"f ps40\"> </span></span></div><div class=\"ps9469 ss163\"><span class=\"f charStyle-281247bf ps9532\">equipment</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7262 ss696\" style=\"overflow:hidden\"><div><div class=\"ps9467 ss163\"><span class=\"f charStyle-281247bf ps6123\">Warehouse <span class=\"f ps40\"> </span></span></div><div class=\"ps9469 ss163\"><span class=\"f charStyle-281247bf ps9534\">facilities</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9536 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-281247bf ps9535\">Office space<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2129 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-281247bf ps6516\">Total<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9477 ss695\"><div><div class=\"ps2579 ss314\"><span class=\"f charStyle-b07b4361 ps39\">Cost 2023<span class=\"f ps40\"> </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:18.75pt\"><td style=\"padding:0\"><div class=\"ps5644 ss695\"><div><div class=\"ps9474 ss314\"><span class=\"f charStyle-1bac868e ps630\">Beginning of financial year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9537 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">464</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9538 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9539 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6526\">1,681</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9540 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6526\">2,145</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps5277 ss695\"><div><div class=\"ps9474 ss314\"><span class=\"f charStyle-1bac868e ps630\">Acquisition of businesses<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9541 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9542 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">421</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9543 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">612</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9544 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6526\">1,033</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps761 ss695\"><div><div class=\"ps9474 ss314\"><span class=\"f charStyle-1bac868e ps630\">Exchange differences<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9545 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9546 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.1pt\"></span></span><span class=\"ps8800\">(12)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9547 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.1pt\"></span></span><span class=\"ps8800\">(32)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9548 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.1pt\"></span></span><span class=\"ps8800\">(44)</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5667 ss695\"><div><div class=\"ps9474 ss314\"><span class=\"f charStyle-23b55a92 ps39\">31 December 2023<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9549 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8824\">464</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9550 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8824\">409</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9551 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.11pt\"></span></span><span class=\"ps6634\">2,261</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9552 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.11pt\"></span></span><span class=\"ps6634\">3,134</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2205 ss695\"><div><div class=\"ps9474 ss314\"><span class=\"f charStyle-b07b4361 ps39\">Accumulated depreciation<span class=\"f ps40\"> </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:18.75pt\"><td style=\"padding:0\"><div class=\"ps3757 ss695\"><div><div class=\"ps9474 ss314\"><span class=\"f charStyle-1bac868e ps630\">Beginning of financial year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9553 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">381</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9554 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9555 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6526\">1,477</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9556 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.87pt\"></span></span><span class=\"ps6526\">1,858</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps4816 ss695\"><div><div class=\"ps9474 ss314\"><span class=\"f charStyle-1bac868e ps630\">Depreciation charge<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9557 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.52pt\"></span></span><span class=\"ps6657\">83</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9558 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.52pt\"></span></span><span class=\"ps6657\">30</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9559 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">221</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9560 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.67pt\"></span></span><span class=\"ps8771\">334</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps9509 ss695\"><div><div class=\"ps9474 ss314\"><span class=\"f charStyle-1bac868e ps630\">Exchange differences<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9561 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9563 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:54.95pt\"></span></span><span class=\"ps9562\">(6)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9564 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.1pt\"></span></span><span class=\"ps8800\">(25)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9565 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.1pt\"></span></span><span class=\"ps8800\">(31)</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6306 ss695\"><div><div class=\"ps9474 ss314\"><span class=\"f charStyle-23b55a92 ps39\">31 December 2023<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9566 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8824\">464</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9568 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:54.88pt\"></span></span><span class=\"ps9567\">24</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9569 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.11pt\"></span></span><span class=\"ps6634\">1,673</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9570 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.11pt\"></span></span><span class=\"ps6634\">2,161</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=\"ps6778 ss695\"><div><div class=\"ps9474 ss314\"><span class=\"f charStyle-b07b4361 ps39\">Carrying amount<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9571 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9572 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8824\">385</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9573 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8824\">588</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9574 ss696\"><div><div class=\"ps9474 ss163\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.71pt\"></span></span><span class=\"ps8824\">973</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7512 ss0\"><div class=\"ss193 ws0 ps67\"><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=\"ps37 ss698\"><div><div class=\"ps9575 ss697\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9576 ss699\"><div><div class=\"ps6223 ss297\"><span class=\"f charStyle-281247bf ps3737\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9577 ss699\"><div><div class=\"ps6223 ss297\"><span class=\"f charStyle-054ead99 ps3737\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5310 ss699\"><div><div class=\"ps6223 ss297\"><span class=\"f charStyle-054ead99 ps3737\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps3702 ss698\"><div><div class=\"ps9578 ss697\"><span class=\"f charStyle-1bac868e ps630\">Lease liabilities at 1 January (current and <span class=\"f ps40\"> </span></span></div><div class=\"ps6223 ss697\"><span class=\"f charStyle-1bac868e ps630\">non-current lease)</span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9579 ss699\"><div><div class=\"ps6223 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7268\">10,971</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9581 ss699\"><div><div class=\"ps6223 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">993</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9582 ss699\"><div><div class=\"ps6223 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">279</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps2163 ss700\"><div><div class=\"ps4288 ss697\"><span class=\"f charStyle-1bac868e ps630\">Acquisition of subsidiaries<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9583 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9584 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9585 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">1,299</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps2167 ss700\"><div><div class=\"ps4288 ss697\"><span class=\"f charStyle-1bac868e ps630\">Additions during the year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9586 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">4,640</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9587 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7268\">11,909</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9588 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps2081 ss700\"><div><div class=\"ps4288 ss697\"><span class=\"f charStyle-1bac868e ps630\">Exchange differences<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9589 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9591 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.27pt\"></span></span><span class=\"ps9590\">30</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9593 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.85pt\"></span></span><span class=\"ps9592\">(16)</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2175 ss700\"><div><div class=\"ps4288 ss697\"><span class=\"f charStyle-1bac868e ps630\">Repayment of lease obligations<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9595 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.2pt\"></span></span><span class=\"ps9594\">(2,072)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9596 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.2pt\"></span></span><span class=\"ps9594\">(1,961)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9598 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46pt\"></span></span><span class=\"ps9597\">(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=\"ps2010 ss700\"><div><div class=\"ps4288 ss697\"><span class=\"f charStyle-b07b4361 ps39\">Total lease liabilities at 31 December<span class=\"f ps40\"> </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=\"ps9599 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7299\">13,539</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9600 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7299\">10,971</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9602 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.46pt\"></span></span><span class=\"ps9601\">993</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps8264 ss700\"><div><div class=\"ps4288 ss697\"><span class=\"f charStyle-b07b4361 ps39\">Current<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9604 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-23b55a92 ps9603\">1,057<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9605 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-b07b4361 ps9603\">1,274<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9607 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-b07b4361 ps9606\">601<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps7396 ss700\"><div><div class=\"ps4288 ss697\"><span class=\"f charStyle-b07b4361 ps39\">Non-current<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9609 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-23b55a92 ps9608\">12,482<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9610 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-b07b4361 ps9603\">9,697<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9611 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-b07b4361 ps9606\">392<span class=\"f ps40\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps9613 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Leas interest expenses recognised in profit and loss </span></div><div class=\"ps9614 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps183\">1.<span class=\"f ps40\"> </span></span><span class=\"f charStyle-4ecd4cad ps1761\">Interest expense</span></div><div class=\"ps9618 ss0\"><div class=\"ss193 ws0 ps67\"><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=\"ps37 ss700\"><div><div class=\"ps6200 ss697\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9576 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-281247bf ps3737\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9577 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-054ead99 ps3737\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5310 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-054ead99 ps3737\">2023<span class=\"f ps40\"> </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=\"ps4293 ss702\"><div><div class=\"ps8719 ss697\"><span class=\"f charStyle-1bac868e ps630\">Interest expense on lease liabilities (vessels <span class=\"f ps40\"> </span></span></div><div class=\"ps8720 ss697\"><span class=\"f charStyle-1bac868e ps630\">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=\"ps9615 ss703\"><div><div class=\"ps8720 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">746</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9616 ss703\"><div><div class=\"ps8720 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">428</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9617 ss703\"><div><div class=\"ps8720 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.27pt\"></span></span><span class=\"ps9590\">25</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps4213 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-4ecd4cad ps183\">1.<span class=\"f ps40\"> </span></span><span class=\"f charStyle-4ecd4cad ps1761\">Lease expense not capitalised in lease liabilities</span></div><div class=\"ps9619 ss0\"><div class=\"ss193 ws0 ps67\"><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=\"ps37 ss700\"><div><div class=\"ps6200 ss697\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9576 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-281247bf ps3737\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9577 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-054ead99 ps3737\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5310 ss701\"><div><div class=\"ps4288 ss297\"><span class=\"f charStyle-054ead99 ps3737\">2023<span class=\"f ps40\"> </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=\"ps4293 ss704\"><div><div class=\"ps41 ss697\"><span class=\"f charStyle-1bac868e ps630\">Short-term lease expense<span class=\"f ps40\"> </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=\"ps9615 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">614</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9616 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">477</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9617 ss649\"><div><div class=\"ps41 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">180</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6947 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Total cas</span><span class=\"f charStyle-c1b8f9f6 ps9620\">h ou</span><span class=\"f charStyle-c1b8f9f6 ps9621\">tflow for all leases in </span><span class=\"f charStyle-c1b8f9f6 ps9622\">2025</span><span class=\"f charStyle-c1b8f9f6 ps9623\">, </span><span class=\"f charStyle-c1b8f9f6 ps9624\">2024</span><span class=\"f charStyle-c1b8f9f6 ps9625\"> and </span><span class=\"f charStyle-c1b8f9f6 ps9626\">2023</span><span class=\"f charStyle-c1b8f9f6 ps9627\"> were</span><span class=\"f charStyle-c1b8f9f6 ps9628\"> </span><span class=\"f charStyle-c1b8f9f6 ps9629\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9630\"> </span><span class=\"f charStyle-c1b8f9f6 ps9631\">2,686</span><span class=\"f charStyle-c1b8f9f6 ps9632\"> thousand</span><span class=\"f charStyle-c1b8f9f6 ps9633\">, </span><span class=\"f charStyle-c1b8f9f6 ps9634\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9635\"> </span><span class=\"f charStyle-c1b8f9f6 ps9636\">1,152\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps9637\"> and </span></div><div class=\"ps9641 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps1078\"> </span><span class=\"f charStyle-c1b8f9f6 ps1079\">283\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps9638\"> respectively, excluding variable lease fee (refer to </span><span class=\"f charStyle-c1b8f9f6 ps9639\">Note 24). Please refer to Note 28</span><span class=\"f charStyle-c1b8f9f6 ps9640\"> 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-564": {
   "value": "<div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Accounting policies<span id=\"i5b93fa0e4eeb499581f0d02dbf58f2fb\"></span></span></div><div class=\"ps8676 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Right-of-Use Assets <span id=\"if3e7eb2c164547ba99ae198c39355d35\"></span></span></div><div class=\"ps8677 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The Group recognises a right-of-use asset and lease liability at the date on which the underlying asset is </span></div><div class=\"ps8678 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">made available for use. Right-of-use assets are measured at cost, which comprises the initial measurement </span></div><div class=\"ps8679 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">of the lease liability using an incremental borrowing rate adjusted for any lease payments made at or before </span></div><div class=\"ps8680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">the commencement date and any lease incentives received. Any initial direct costs that would not have been </span></div><div class=\"ps8701 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">incurred if the lease had not been obtained are included in to the carrying amount of the right-of-use </span></div><div class=\"ps9643 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">assets.</span></div><div class=\"ps8683 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The right-of-use asset is subsequently measured at cost, less any accumulated depreciation and impairment </span></div><div class=\"ps8684 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">losses, and adjusted for any remeasurement of the lease liability.</span></div><div class=\"ps3200 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Right-of-use assets are depreciated on a straight-line basis over the lease term.</span></div><div class=\"ps9644 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Right-of-use assets are tested for impairment whenever there is objective evidence or an indication that </span></div><div class=\"ps9645 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">these assets may be impaired. For further information regarding impairment testing. please refer to Note 13.</span></div><div class=\"ps9646 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Lease liabilities<span id=\"i906fb04c707e4a55b0265cca42759d6e\"></span></span></div><div class=\"ps2688 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">At the inception of a contract, the Group assesses whether the contract contains a lease. A contract contains </span></div><div class=\"ps2689 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">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=\"ps2690 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">consideration. Reassessment is required only when the terms and conditions of the contract are changed.</span></div><div class=\"ps6997 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">At the commencement date of the lease, the Group recognises lease liabilities measured at the present </span></div><div class=\"ps9296 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">value of lease payments to be made over the lease term. The lease payments include fixed payments </span></div><div class=\"ps9302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">(including in-substance fixed payments) less any lease incentives receivable, variable lease payments that </span></div><div class=\"ps9307 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">depend on an index or a rate, and amounts expected to be paid under residual value guarantees.</span></div><div class=\"ps2992 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Variable lease payments that do not depend on an index or a rate are recognised as expenses in the period </span></div><div class=\"ps2993 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">in which the event or condition that triggers the payment occurs. Utilisation based lease fees are classified <span class=\"f ps40\"> </span></span></div><div class=\"ps2994 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">as variable lease payments.</span></div><div class=\"ps2995 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the </span></div><div class=\"ps2996 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">lease commencement date, as the interest rate implicit in the lease is not readily determinable. After the </span></div><div class=\"ps2997 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">commencement date, the carrying amount of lease liabilities is increased to reflect the accretion of interest </span></div><div class=\"ps2998 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">and reduced by lease payments made.</span></div><div class=\"ps2999 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the </span></div><div class=\"ps3000 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an </span></div><div class=\"ps3127 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">index or rate used to determine such lease payments) or a change in the assessment of an option to </span></div><div class=\"ps3128 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">purchase the underlying asset.</span></div><div class=\"ps9651 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Short-term and low-value leases<span id=\"i47c0a14c77d249589203643c44fd375a\"></span></span></div><div class=\"ps9652 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group has elected not to recognise right-of-use assets and lease liabilities for short-term leases with </span></div><div class=\"ps9382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">lease terms of </span><span class=\"f charStyle-c1b8f9f6 ps7528\">twelve months</span><span class=\"f charStyle-c1b8f9f6 ps9653\"> or less, and for low-value leases. Lease payments relating to these leases are </span></div><div class=\"ps9383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">expensed to profit or loss on a straight-line basis over the lease term. Short-term and low-value leases </span></div><div class=\"ps9384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">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=\"ps9646 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Lease liabilities<span id=\"i906fb04c707e4a55b0265cca42759d6e\"></span></span></div><div class=\"ps2688 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">At the inception of a contract, the Group assesses whether the contract contains a lease. A contract contains </span></div><div class=\"ps2689 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">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=\"ps2690 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">consideration. Reassessment is required only when the terms and conditions of the contract are changed.</span></div><div class=\"ps6997 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">At the commencement date of the lease, the Group recognises lease liabilities measured at the present </span></div><div class=\"ps9296 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">value of lease payments to be made over the lease term. The lease payments include fixed payments </span></div><div class=\"ps9302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">(including in-substance fixed payments) less any lease incentives receivable, variable lease payments that </span></div><div class=\"ps9307 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">depend on an index or a rate, and amounts expected to be paid under residual value guarantees.</span></div><div class=\"ps2992 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Variable lease payments that do not depend on an index or a rate are recognised as expenses in the period </span></div><div class=\"ps2993 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">in which the event or condition that triggers the payment occurs. Utilisation based lease fees are classified <span class=\"f ps40\"> </span></span></div><div class=\"ps2994 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">as variable lease payments.</span></div><div class=\"ps2995 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the </span></div><div class=\"ps2996 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">lease commencement date, as the interest rate implicit in the lease is not readily determinable. After the </span></div><div class=\"ps2997 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">commencement date, the carrying amount of lease liabilities is increased to reflect the accretion of interest </span></div><div class=\"ps2998 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">and reduced by lease payments made.</span></div><div class=\"ps2999 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the </span></div><div class=\"ps3000 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an </span></div><div class=\"ps3127 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">index or rate used to determine such lease payments) or a change in the assessment of an option to </span></div><div class=\"ps3128 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">purchase the underlying asset.</span></div><div class=\"ps9651 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Short-term and low-value leases<span id=\"i47c0a14c77d249589203643c44fd375a\"></span></span></div><div class=\"ps9652 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group has elected not to recognise right-of-use assets and lease liabilities for short-term leases with </span></div><div class=\"ps9382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">lease terms of </span><span class=\"f charStyle-c1b8f9f6 ps7528\">twelve months</span><span class=\"f charStyle-c1b8f9f6 ps9653\"> or less, and for low-value leases. Lease payments relating to these leases are </span></div><div class=\"ps9383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">expensed to profit or loss on a straight-line basis over the lease term. Short-term and low-value leases </span></div><div class=\"ps9384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">include cars, coffee machines, office premises and AV equipment.</span></div><div class=\"ps9910 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies <span id=\"i77381d018b0949e7983fba488dc3e9f9\"></span></span></div><div class=\"ps4905 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Cash and cash equivalents consist of cash net of short-term bank overdrafts, as these are considered an </span></div><div class=\"ps4906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">integral part of the Group\u2019s cash management. Cash and cash equivalents are me</span><span class=\"f charStyle-c1b8f9f6 ps9911\">asured at amortised cost.</span></div><div class=\"ps7795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Accounting policies<span id=\"i0e2a59b7f3894ea2994a4e401dde6b73\"></span></span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Trade and other payables represent liabilities for goods and services provided to the Group before the end </span></div><div class=\"ps7161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">of the financial year, that remain unpaid. They are classified as current liabilities if payment is due within one </span></div><div class=\"ps7164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">year or less (within the normal operating cycle of the business, if longer). Otherwise, they are presented as </span></div><div class=\"ps7578 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">non-current liabilities. Trade and other payables are initially recognised at fair value, and subsequently </span></div><div class=\"ps7579 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">carried at amortised cost, using the effective interest method. </span></div><div class=\"ps7118 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">A provision is recognised for certain contracts with customers where the unavoidable costs of meeting the </span></div><div class=\"ps7119 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">performance obligations exceed the economic benefits expected to be received. These costs are expected </span></div><div class=\"ps7165 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">to be incurred in the following financial year.</span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies<span id=\"ic09a383af8ab4b488bf22a7990e12a85\"></span></span></div><div class=\"ps369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Derivative financial instruments are initially recognised at fair value on the date the derivative contract is </span></div><div class=\"ps370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">entered into and are subsequently remeasured at fair value through profit and loss. Derivatives are carried </span></div><div class=\"ps397 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">as financial assets, presented as derivative assets, when the fair value is positive and as financial liabilities, </span></div><div class=\"ps7437 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">presented as derivative liabilities, when the fair value is negative.</span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">At the inception of a hedge relationship, the Group formally designates and documents the hedge </span></div><div class=\"ps374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">relationship, including the risk management objective and strategy for undertaking the hedge.</span></div><div class=\"ps10310 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Changes in the fair value of derivative financial instruments designated as cash flow hedges are recognised </span></div><div class=\"ps10311 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">in other comprehensive income and presented under \u201cHedging reserves\u201d (equity). Where the expected </span></div><div class=\"ps377 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">future transactions result in the acquisition of non-financial assets, amounts deferred in equity are </span></div><div class=\"ps378 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">transferred from equity and included in the cost of the asset. Where expected future transactions result in </span></div><div class=\"ps379 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">income or expenses, amounts deferred under in equity are transferred from equity to the statement of </span></div><div class=\"ps380 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">profit and loss, in the same item as the hedged transaction, as a reclassification adjustment. In addition, the </span></div><div class=\"ps381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">entity may transfer the cumulative fair value changes recognised in equity upon derecognition of the </span></div><div class=\"ps400 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">hedged item. </span></div><div class=\"ps383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Changes in the fair value of derivative financial instruments not designated as hedges are recognised in the </span></div><div class=\"ps401 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">statement of profit and loss. Certain borrowing facilities when undrawn do not qualify for hedge </span></div><div class=\"ps402 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">accounting. Changes in the fair value of these derivative financial instruments are therefore recognised in </span></div><div class=\"ps403 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the statement of profit and loss under \u201cFinancial income\u201d or \u201cFinancial expenses\u201d for interest rate swaps. </span></div><div class=\"ps387 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The amount included in the hedging reserve is the lower, in absolute terms, of the cumulative fair value </span></div><div class=\"ps388 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">adjustment of the hedging instrument and the hedged item. Hedge ineffectiveness is recognised in the </span></div><div class=\"ps405 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">consolidated statement of profit and loss. Cost of hedging reserves include the time value of options. </span></div><div class=\"ps406 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">These costs are recognised separately in Other Comprehensive Income (OCI) and are amortised over the </span></div><div class=\"ps407 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">life of the hedging instrument, in accordance with the specific hedging relationship. If the hedge is </span></div><div class=\"ps408 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">discontinued, any unamortised cost of hedging is recognised immediately in profit or loss.</span></div><div class=\"ps11100 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies<span id=\"ia724b79896824364bb1ed0a2821fa1af\"></span></span></div><div class=\"ps7078 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Debt to credit institutions etc. is recognised at the time of borrowing </span></div><div class=\"ps7079 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">at fair value after deduction of directly attributable transaction costs. </span></div><div class=\"ps7080 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Subsequently, the financial liabilities are measured at amortised cost </span></div><div class=\"ps7081 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">using the \"effective interest method\", whereby the difference </span></div><div class=\"ps7082 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">between the proceeds and the nominal value is recognised in the </span></div><div class=\"ps293 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">statement of profit and loss under financial expenses over the loan </span></div><div class=\"ps294 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">period. </span></div><div class=\"ps7083 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">A financial liability is derecognised when the obligation under the </span></div><div class=\"ps7084 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">liability is discharged, cancelled or expires.</span></div><div class=\"ps11101 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">When an existing financial liability is replaced by another from the </span></div><div class=\"ps11102 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">same lender on substantially different terms, or when the terms of an </span></div><div class=\"ps7023 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">existing liability are substantially modified, such an exchange or </span></div><div class=\"ps7024 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">modification is treated as the derecognition of the original liability </span></div><div class=\"ps7025 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">and the recognition of a new liability.</span></div><div class=\"ps11103 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The difference in the respective carrying amounts of the original and </span></div><div class=\"ps11104 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the new financial liability is recognised in the statement of profit and </span></div><div class=\"ps7026 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">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-565": {
   "value": "<div class=\"ps9646 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Lease liabilities<span id=\"i906fb04c707e4a55b0265cca42759d6e\"></span></span></div><div class=\"ps2688 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">At the inception of a contract, the Group assesses whether the contract contains a lease. A contract contains </span></div><div class=\"ps2689 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">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=\"ps2690 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">consideration. Reassessment is required only when the terms and conditions of the contract are changed.</span></div><div class=\"ps6997 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">At the commencement date of the lease, the Group recognises lease liabilities measured at the present </span></div><div class=\"ps9296 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">value of lease payments to be made over the lease term. The lease payments include fixed payments </span></div><div class=\"ps9302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">(including in-substance fixed payments) less any lease incentives receivable, variable lease payments that </span></div><div class=\"ps9307 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">depend on an index or a rate, and amounts expected to be paid under residual value guarantees.</span></div><div class=\"ps2992 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Variable lease payments that do not depend on an index or a rate are recognised as expenses in the period </span></div><div class=\"ps2993 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">in which the event or condition that triggers the payment occurs. Utilisation based lease fees are classified <span class=\"f ps40\"> </span></span></div><div class=\"ps2994 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">as variable lease payments.</span></div><div class=\"ps2995 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the </span></div><div class=\"ps2996 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">lease commencement date, as the interest rate implicit in the lease is not readily determinable. After the </span></div><div class=\"ps2997 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">commencement date, the carrying amount of lease liabilities is increased to reflect the accretion of interest </span></div><div class=\"ps2998 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">and reduced by lease payments made.</span></div><div class=\"ps2999 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the </span></div><div class=\"ps3000 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an </span></div><div class=\"ps3127 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">index or rate used to determine such lease payments) or a change in the assessment of an option to </span></div><div class=\"ps3128 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">purchase the underlying asset.</span></div><div class=\"ps9651 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Short-term and low-value leases<span id=\"i47c0a14c77d249589203643c44fd375a\"></span></span></div><div class=\"ps9652 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group has elected not to recognise right-of-use assets and lease liabilities for short-term leases with </span></div><div class=\"ps9382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">lease terms of </span><span class=\"f charStyle-c1b8f9f6 ps7528\">twelve months</span><span class=\"f charStyle-c1b8f9f6 ps9653\"> or less, and for low-value leases. Lease payments relating to these leases are </span></div><div class=\"ps9383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">expensed to profit or loss on a straight-line basis over the lease term. Short-term and low-value leases </span></div><div class=\"ps9384 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">include cars, coffee machines, office premises and AV equipment.</span></div><div class=\"ps7795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Accounting policies<span id=\"i0e2a59b7f3894ea2994a4e401dde6b73\"></span></span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Trade and other payables represent liabilities for goods and services provided to the Group before the end </span></div><div class=\"ps7161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">of the financial year, that remain unpaid. They are classified as current liabilities if payment is due within one </span></div><div class=\"ps7164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">year or less (within the normal operating cycle of the business, if longer). Otherwise, they are presented as </span></div><div class=\"ps7578 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">non-current liabilities. Trade and other payables are initially recognised at fair value, and subsequently </span></div><div class=\"ps7579 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">carried at amortised cost, using the effective interest method. </span></div><div class=\"ps7118 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">A provision is recognised for certain contracts with customers where the unavoidable costs of meeting the </span></div><div class=\"ps7119 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">performance obligations exceed the economic benefits expected to be received. These costs are expected </span></div><div class=\"ps7165 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">to be incurred in the following financial year.</span></div><div class=\"ps11100 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies<span id=\"ia724b79896824364bb1ed0a2821fa1af\"></span></span></div><div class=\"ps7078 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Debt to credit institutions etc. is recognised at the time of borrowing </span></div><div class=\"ps7079 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">at fair value after deduction of directly attributable transaction costs. </span></div><div class=\"ps7080 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Subsequently, the financial liabilities are measured at amortised cost </span></div><div class=\"ps7081 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">using the \"effective interest method\", whereby the difference </span></div><div class=\"ps7082 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">between the proceeds and the nominal value is recognised in the </span></div><div class=\"ps293 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">statement of profit and loss under financial expenses over the loan </span></div><div class=\"ps294 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">period. </span></div><div class=\"ps7083 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">A financial liability is derecognised when the obligation under the </span></div><div class=\"ps7084 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">liability is discharged, cancelled or expires.</span></div><div class=\"ps11101 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">When an existing financial liability is replaced by another from the </span></div><div class=\"ps11102 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">same lender on substantially different terms, or when the terms of an </span></div><div class=\"ps7023 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">existing liability are substantially modified, such an exchange or </span></div><div class=\"ps7024 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">modification is treated as the derecognition of the original liability </span></div><div class=\"ps7025 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">and the recognition of a new liability.</span></div><div class=\"ps11103 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The difference in the respective carrying amounts of the original and </span></div><div class=\"ps11104 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the new financial liability is recognised in the statement of profit and </span></div><div class=\"ps7026 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">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-567": {
   "value": "<div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Note 15</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps1006\">Inventories<span id=\"ib34ce6d2a91845c29468119043a09cba\"></span></span></div><div class=\"ps7684 ss0\"><div class=\"ss708 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=\"ps37 ss705\"><div><div class=\"ps747 ss429\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7583 ss707\"><div><div class=\"ps41 ss706\"><span class=\"f charStyle-281247bf ps9656\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7620 ss707\"><div><div class=\"ps41 ss706\"><span class=\"f charStyle-054ead99 ps9656\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9657 ss707\"><div><div class=\"ps41 ss706\"><span class=\"f charStyle-054ead99 ps9656\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps43 ss705\"><div><div class=\"ps41 ss429\"><span class=\"f charStyle-1bac868e ps630\">Fuel and oil<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9659 ss707\"><div><div class=\"ps41 ss706\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.87pt\"></span></span><span class=\"ps9658\">3,540</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9660 ss707\"><div><div class=\"ps41 ss706\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.87pt\"></span></span><span class=\"ps9658\">1,039</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9661 ss707\"><div><div class=\"ps41 ss706\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.87pt\"></span></span><span class=\"ps9658\">1,836</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps9669 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">As of </span><span class=\"f charStyle-c1b8f9f6 ps9662\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps9663\">, the Company's inventories include fuel and oil totallin</span><span class=\"f charStyle-c1b8f9f6 ps9664\">g </span><span class=\"f charStyle-c1b8f9f6 ps9665\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9666\"> </span><span class=\"f charStyle-c1b8f9f6 ps9667\">4 million</span><span class=\"f charStyle-c1b8f9f6 ps9668\">. </span></div><div class=\"ps3195 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">As of </span><span class=\"f charStyle-c1b8f9f6 ps9662\">31\u00a0December 2024</span><span class=\"f charStyle-c1b8f9f6 ps9670\">, the Company's inventories include fuel and oil totalling </span><span class=\"f charStyle-c1b8f9f6 ps9671\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9672\"> </span><span class=\"f charStyle-c1b8f9f6 ps9673\">1.0 million</span><span class=\"f charStyle-c1b8f9f6 ps9674\">, </span><span class=\"f charStyle-c1b8f9f6 ps9675\">a decrease</span><span class=\"f charStyle-c1b8f9f6 ps9676\"> </span></div><div class=\"ps9690 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">from </span><span class=\"f charStyle-c1b8f9f6 ps9677\">EUR</span><span class=\"f charStyle-58d8bcbe ps9678\"> </span><span class=\"f charStyle-c1b8f9f6 ps9679\">1.8 million</span><span class=\"f charStyle-c1b8f9f6 ps9680\"> in </span><span class=\"f charStyle-c1b8f9f6 ps9681\">2023</span><span class=\"f charStyle-c1b8f9f6 ps9682\">,</span><span class=\"f charStyle-c1b8f9f6 ps9683\"> primarily because </span><span class=\"f charStyle-c1b8f9f6 ps9684\">three</span><span class=\"f charStyle-c1b8f9f6 ps9685\"> of the Company\u2019s</span><span class=\"f charStyle-c1b8f9f6 ps9686\"> </span><span class=\"f charStyle-c1b8f9f6 ps9687\">four</span><span class=\"f charStyle-c1b8f9f6 ps9688\"> operating v</span><span class=\"f charStyle-c1b8f9f6 ps9689\">essels were off hire </span></div><div class=\"ps9691 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">at the end of the reporting period.</span></div><div class=\"ps1734 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Accounting policies</span></div><div class=\"ps2480 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Inventories are carried at the lower of cost and net realisable value. Cost is determined using the first-in, </span></div><div class=\"ps1736 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">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=\"ps1734 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Accounting policies</span></div><div class=\"ps2480 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Inventories are carried at the lower of cost and net realisable value. Cost is determined using the first-in, </span></div><div class=\"ps1736 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">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 ps183\">Note 16</span></div><div class=\"ps6919 ss0\" style=\"font-size:16pt\"><span class=\"f charStyle-940783b5 ps183\">Tr<span id=\"i777412d938774219adbfdc9bf55959ab\"></span></span><span class=\"f charStyle-940783b5 ps9693\">ad</span><span class=\"f charStyle-940783b5 ps9694\">e and Other Receivables</span></div><div class=\"ps7684 ss0\"><div class=\"ss193 ws0 ps67\"><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=\"ps37 ss709\"><div><div class=\"ps8191 ss697\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9576 ss303\"><div><div class=\"ps5627 ss297\"><span class=\"f charStyle-281247bf ps3737\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9577 ss303\"><div><div class=\"ps5627 ss297\"><span class=\"f charStyle-054ead99 ps3737\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5310 ss303\"><div><div class=\"ps5627 ss297\"><span class=\"f charStyle-054ead99 ps3737\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps1987 ss709\"><div><div class=\"ps5627 ss697\"><span class=\"f charStyle-1bac868e ps630\">Trade receivables from non-related parties<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9696 ss303\"><div><div class=\"ps5627 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.92pt\"></span></span><span class=\"ps9695\">117,734</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9697 ss303\"><div><div class=\"ps5627 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7268\">51,467</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9698 ss303\"><div><div class=\"ps5627 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7268\">26,802</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps7536 ss709\"><div><div class=\"ps5627 ss697\"><span class=\"f charStyle-1bac868e ps630\">Contract assets<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9699 ss303\"><div><div class=\"ps5627 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7268\">81,923</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9700 ss303\"><div><div class=\"ps5627 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7268\">37,609</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9701 ss303\"><div><div class=\"ps5627 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">8,880</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps7540 ss709\"><div><div class=\"ps5627 ss697\"><span class=\"f charStyle-1bac868e ps630\">Receivables from related parties<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9702 ss303\"><div><div class=\"ps5627 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9703 ss303\"><div><div class=\"ps5627 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">214</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9704 ss303\"><div><div class=\"ps5627 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">592</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2306 ss709\"><div><div class=\"ps5627 ss697\"><span class=\"f charStyle-1bac868e ps630\">Other receivables<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9705 ss303\"><div><div class=\"ps5627 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7268\">21,295</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9706 ss303\"><div><div class=\"ps5627 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7268\">11,305</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9707 ss303\"><div><div class=\"ps5627 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">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=\"ps492 ss709\"><div><div class=\"ps5628 ss697\"><span class=\"f charStyle-b07b4361 ps39\">Total trade receivables and other <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss697\"><span class=\"f charStyle-b07b4361 ps39\">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=\"ps9708 ss303\"><div><div class=\"ps5627 ss297\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.52pt\"></span></span><span class=\"ps7291\">220,952</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9709 ss303\"><div><div class=\"ps5627 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.52pt\"></span></span><span class=\"ps7291\">100,595</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9710 ss303\"><div><div class=\"ps5627 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7299\">39,432</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps2385 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">As of </span><span class=\"f charStyle-c1b8f9f6 ps1939\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps1940\">, the Company's receivables include contract assets totalling </span><span class=\"f charStyle-c1b8f9f6 ps9711\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9712\"> </span><span class=\"f charStyle-c1b8f9f6 ps9713\">81.9\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9714\">, a </span></div><div class=\"ps9727 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">significant increase from </span><span class=\"f charStyle-c1b8f9f6 ps9715\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9716\"> </span><span class=\"f charStyle-c1b8f9f6 ps9717\">37.6\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9718\"> in </span><span class=\"f charStyle-c1b8f9f6 ps9719\">2024</span><span class=\"f charStyle-c1b8f9f6 ps9720\"> (</span><span class=\"f charStyle-c1b8f9f6 ps9721\">2023</span><span class=\"f charStyle-c1b8f9f6 ps9722\">: </span><span class=\"f charStyle-c1b8f9f6 ps9723\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9724\"> </span><span class=\"f charStyle-c1b8f9f6 ps9725\">8.9\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9726\">). These contract assets represent </span></div><div class=\"ps9728 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the Company's entitlement to consideration for work performed to date on ongoing projects as of the </span></div><div class=\"ps2786 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">balance sheet date. Typically, these contract assets are reclassified to trade receivables when the Company </span></div><div class=\"ps2414 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">fulfils its obligations and the right to consideration becomes unconditional. </span></div><div class=\"ps9737 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The balance of other receivables includes contract fulfilment costs amounted to </span><span class=\"f charStyle-c1b8f9f6 ps9729\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9730\"> </span><span class=\"f charStyle-c1b8f9f6 ps9731\">14</span><span class=\"f charStyle-c1b8f9f6 ps9732\"> million</span><span class=\"f charStyle-c1b8f9f6 ps9733\"> </span><span class=\"f charStyle-c1b8f9f6 ps9734\">(</span><span class=\"f charStyle-c1b8f9f6 ps9735\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9736\"> </span></div><div class=\"ps9744 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">8.5\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps9738\"> in </span><span class=\"f charStyle-c1b8f9f6 ps9739\">2024</span><span class=\"f charStyle-c1b8f9f6 ps9740\"> and </span><span class=\"f charStyle-c1b8f9f6 ps9741\">nil</span><span class=\"f charStyle-c1b8f9f6 ps9742\"> in </span><span class=\"f charStyle-c1b8f9f6 ps9743\">2023</span><span class=\"f charStyle-c1b8f9f6 ps1135\">). These costs represent expenditures directly incurred in fulfilling contracts <span class=\"f ps40\"> </span></span></div><div class=\"ps9745 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">with customers, such as direct labour, materials, and other costs necessary to complete the performance </span></div><div class=\"ps9746 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">obligations under the contracts. These costs are recognized as assets as they are expected to be recovered </span></div><div class=\"ps2419 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">over the life of the respective contracts. Contract costs are amortised on a systematic basis that is consistent </span></div><div class=\"ps2420 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">with the transfer of the related goods or services to the customer. For accounting policies, refer to </span><span class=\"f charStyle-c1b8f9f6 ps9747\">Note 3.</span></div><div class=\"ps7183 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The table below outlines movements in contract assets during the year:</span></div><div class=\"ps8724 ss0\"><div class=\"ss176 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=\"ps37 ss711\"><div><div class=\"ps6200 ss710\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9750 ss712\"><div><div class=\"ps4288 ss180\"><span class=\"f charStyle-281247bf ps9749\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7622 ss712\"><div><div class=\"ps4288 ss180\"><span class=\"f charStyle-054ead99 ps9749\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9751 ss712\"><div><div class=\"ps4288 ss180\"><span class=\"f charStyle-054ead99 ps9749\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4293 ss713\"><div><div class=\"ps5627 ss710\"><span class=\"f charStyle-b07b4361 ps39\">Contract assets at 1 January<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9753 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.52pt\"></span></span><span class=\"ps9752\">37,609</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9755 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.37pt\"></span></span><span class=\"ps9754\">8,880</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9756 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.52pt\"></span></span><span class=\"ps9752\">19,999</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5195 ss713\"><div><div class=\"ps5627 ss710\"><span class=\"f charStyle-1bac868e ps630\">Acquisition of businesses<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9757 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><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=\"ps9758 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><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=\"ps9759 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.37pt\"></span></span><span class=\"ps9754\">8,266</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5204 ss713\"><div><div class=\"ps5627 ss710\"><span class=\"f charStyle-1bac868e ps630\">Recognised during the period<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9760 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.52pt\"></span></span><span class=\"ps9752\">81,923</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9761 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.52pt\"></span></span><span class=\"ps9752\">37,710</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9763 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:58.17pt\"></span></span><span class=\"ps9762\">614</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5211 ss713\"><div><div class=\"ps5627 ss710\"><span class=\"f charStyle-1bac868e ps630\">Transfer to receivables<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9765 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.1pt\"></span></span><span class=\"ps9764\">(37,609)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9767 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:45.95pt\"></span></span><span class=\"ps9766\">(8,880)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9768 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.1pt\"></span></span><span class=\"ps9764\">(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=\"ps5220 ss713\"><div><div class=\"ps5627 ss710\"><span class=\"f charStyle-1bac868e ps630\">Exchange differences<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9769 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><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=\"ps9771 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:52.75pt\"></span></span><span class=\"ps9770\">(101)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9772 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><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=\"ps5686 ss713\"><div><div class=\"ps5627 ss710\"><span class=\"f charStyle-b07b4361 ps39\">Total contract assets at 31 December<span class=\"f ps40\"> </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=\"ps9774 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.44pt\"></span></span><span class=\"ps9773\">81,923</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9775 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.44pt\"></span></span><span class=\"ps9773\">37,609</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9777 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.61pt\"></span></span><span class=\"ps9776\">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=\"ps6305 ss713\"><div><div class=\"ps5627 ss710\"><span class=\"f charStyle-b07b4361 ps39\">Current<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9778 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.44pt\"></span></span><span class=\"ps9773\">81,923</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9779 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.44pt\"></span></span><span class=\"ps9773\">37,609</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9780 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.61pt\"></span></span><span class=\"ps9776\">8,880</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps6306 ss713\"><div><div class=\"ps5627 ss710\"><span class=\"f charStyle-b07b4361 ps39\">Non-current<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9781 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><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=\"ps9782 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><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=\"ps9783 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><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=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Expected credit loss on trade receivables<span id=\"i83725c9e4c5643f481f0fbf04d4f78e1\"></span></span></div><div class=\"ps369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group has historically only experienced immaterial credit losses on trade receivables, if any. In addition, </span></div><div class=\"ps370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">a material part of the cash flows under the Group\u2019s contracts consist of prepayments received up front.</span></div><div class=\"ps371 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group's assessment remains consistent with its historical experiences. Although certain receivables may </span></div><div class=\"ps372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">become up to </span><span class=\"f charStyle-c1b8f9f6 ps9003\">30 days</span><span class=\"f charStyle-c1b8f9f6 ps9786\"> overdue, the Group\u2019s overall credit risk profile remains unchanged. This assessment is </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">supported by historical loss data, a limited number of reliable counterparties, and the Group\u2019s forward-</span></div><div class=\"ps374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">looking outlook.</span></div><div class=\"ps9787 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies<span id=\"id45d7b41ad8e457a85cd27d16fcb0747\"></span></span></div><div class=\"ps9788 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Financial assets<span id=\"i84d16ac46774406bb2607018955ce9e3\"></span></span></div><div class=\"ps9789 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The classification of financial assets depends on the Group\u2019s business model for managing the financial </span></div><div class=\"ps9790 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">assets as well as the contractual terms of the cash flows of the respective financial assets.</span></div><div class=\"ps3391 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">(1)<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1762\">At initial recognition: the Group measures a financial asset at fair value, plus, in the case of a </span></div><div class=\"ps3393 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">financial asset not measured at fair value through profit or loss, transaction costs that are directly </span></div><div class=\"ps3394 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">attributable to the acquisition of the financial assets. Transaction costs of financial assets carried at </span></div><div class=\"ps3395 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">fair value through profit or loss are recognised as an expense in profit or loss.</span></div><div class=\"ps2689 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">(1i)<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1762\">At subsequent measurement: the Group\u2019s financial assets mainly comprise cash and bank balances, </span></div><div class=\"ps2690 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">trade receivables and other current assets.</span></div><div class=\"ps9647 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Interest income from these financial assets is recognised using the effective interest rate method.</span></div><div class=\"ps2366 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group assesses on a forward-looking basis the expected credit losses associated with its financial assets </span></div><div class=\"ps2367 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">carried at amortised cost. For trade and other receivables, the Group applied the simplified approach </span></div><div class=\"ps2368 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">permitted by IFRS 9, which requires lifetime expected losses to be recognised from initial recognition of the </span></div><div class=\"ps2369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">receivables.</span></div><div class=\"ps7512 ss0\"><div class=\"ss176 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=\"ps37 ss716\"><div><div class=\"ps9793 ss715\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9796 ss717\"><div><div class=\"ps8719 ss241\"><span class=\"f charStyle-054ead99 ps9794\">Trade <span class=\"f ps40\"> </span></span></div><div class=\"ps8720 ss241\"><span class=\"f charStyle-054ead99 ps9795\">receivables</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9799 ss717\"><div><div class=\"ps8719 ss241\"><span class=\"f charStyle-054ead99 ps9797\">Contract <span class=\"f ps40\"> </span></span></div><div class=\"ps8720 ss241\"><span class=\"f charStyle-054ead99 ps9798\">assets</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9801 ss717\"><div><div class=\"ps8719 ss241\"><span class=\"f charStyle-054ead99 ps9800\">Expected <span class=\"f ps40\"> </span></span></div><div class=\"ps8720 ss241\"><span class=\"f charStyle-054ead99 ps5212\">loss</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9802 ss703\"><div><div class=\"ps8720 ss297\"><span class=\"f charStyle-054ead99 ps7690\">Total<span class=\"f ps40\"> </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=\"ps5143 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-23b55a92 ps39\">31 December 2025<span class=\"f ps40\"> </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=\"ps9803 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-1bac868e ps630\">Not due<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9804 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.17pt\"></span></span><span class=\"ps7266\">115,559</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9805 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.02pt\"></span></span><span class=\"ps7276\">81,923</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9807 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9808 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.92pt\"></span></span><span class=\"ps9695\">197,482</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps6707 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-1bac868e ps630\">Overdue 1-30 days<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9810 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.67pt\"></span></span><span class=\"ps9809\">716</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9811 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9812 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9813 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">716</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps9814 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-1bac868e ps630\">Overdue 31 to 60 days<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9815 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.87pt\"></span></span><span class=\"ps7284\">1,459</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9816 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9817 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9818 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">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=\"ps7385 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-1bac868e ps630\">Overdue +61 days<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9819 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9820 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9821 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9822 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\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=\"ps9823 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-b07b4361 ps39\">Total<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9824 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.77pt\"></span></span><span class=\"ps7289\">117,734</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9826 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.94pt\"></span></span><span class=\"ps9825\">81,923</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9827 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9828 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.52pt\"></span></span><span class=\"ps7291\">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=\"ps2095 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-23b55a92 ps39\">31 December 2024<span class=\"f ps40\"> </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=\"ps2025 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-1bac868e ps630\">Not due<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9829 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.02pt\"></span></span><span class=\"ps7276\">49,029</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9830 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.02pt\"></span></span><span class=\"ps7276\">37,609</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9831 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9832 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7268\">86,638</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps7653 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-1bac868e ps630\">Overdue 1-30 days<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9833 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9834 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9835 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9836 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps5849 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-1bac868e ps630\">Overdue 31 to 60 days<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9837 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.87pt\"></span></span><span class=\"ps7284\">2,373</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9838 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9839 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9840 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">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=\"ps6601 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-1bac868e ps630\">Overdue +61 days<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9841 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.52pt\"></span></span><span class=\"ps9752\">65</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9842 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9843 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9844 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.27pt\"></span></span><span class=\"ps9590\">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=\"ps9845 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-b07b4361 ps39\">Total<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9846 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.94pt\"></span></span><span class=\"ps9825\">51,467</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9847 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.94pt\"></span></span><span class=\"ps9825\">37,609</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9848 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9849 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7299\">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=\"ps5740 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-23b55a92 ps39\">31 December 2023<span class=\"f ps40\"> </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=\"ps9850 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-1bac868e ps630\">Not due<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9851 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.87pt\"></span></span><span class=\"ps7284\">9,639</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9852 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.87pt\"></span></span><span class=\"ps7284\">8,880</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9853 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9854 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7268\">18,519</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps9855 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-1bac868e ps630\">Overdue 1-30 days<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9856 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.02pt\"></span></span><span class=\"ps7276\">14,287</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9857 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9858 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9859 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7268\">14,287</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps9860 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-1bac868e ps630\">Overdue 31 to 60 days<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9861 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.67pt\"></span></span><span class=\"ps9809\">603</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9862 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9863 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9864 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">603</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps3794 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-1bac868e ps630\">Overdue +61 days<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9865 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.87pt\"></span></span><span class=\"ps7284\">2,273</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9866 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9867 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9868 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">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=\"ps9869 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-b07b4361 ps39\">Total<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9870 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.94pt\"></span></span><span class=\"ps9825\">26,802</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9872 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.11pt\"></span></span><span class=\"ps9871\">8,880</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9873 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9874 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7299\">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=\"ps7183 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The table below outlines movements in contract assets during the year:</span></div><div class=\"ps8724 ss0\"><div class=\"ss176 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=\"ps37 ss711\"><div><div class=\"ps6200 ss710\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9750 ss712\"><div><div class=\"ps4288 ss180\"><span class=\"f charStyle-281247bf ps9749\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7622 ss712\"><div><div class=\"ps4288 ss180\"><span class=\"f charStyle-054ead99 ps9749\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9751 ss712\"><div><div class=\"ps4288 ss180\"><span class=\"f charStyle-054ead99 ps9749\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4293 ss713\"><div><div class=\"ps5627 ss710\"><span class=\"f charStyle-b07b4361 ps39\">Contract assets at 1 January<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9753 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.52pt\"></span></span><span class=\"ps9752\">37,609</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9755 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.37pt\"></span></span><span class=\"ps9754\">8,880</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9756 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.52pt\"></span></span><span class=\"ps9752\">19,999</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5195 ss713\"><div><div class=\"ps5627 ss710\"><span class=\"f charStyle-1bac868e ps630\">Acquisition of businesses<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9757 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><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=\"ps9758 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><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=\"ps9759 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.37pt\"></span></span><span class=\"ps9754\">8,266</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5204 ss713\"><div><div class=\"ps5627 ss710\"><span class=\"f charStyle-1bac868e ps630\">Recognised during the period<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9760 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.52pt\"></span></span><span class=\"ps9752\">81,923</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9761 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.52pt\"></span></span><span class=\"ps9752\">37,710</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9763 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:58.17pt\"></span></span><span class=\"ps9762\">614</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5211 ss713\"><div><div class=\"ps5627 ss710\"><span class=\"f charStyle-1bac868e ps630\">Transfer to receivables<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9765 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.1pt\"></span></span><span class=\"ps9764\">(37,609)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9767 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:45.95pt\"></span></span><span class=\"ps9766\">(8,880)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9768 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.1pt\"></span></span><span class=\"ps9764\">(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=\"ps5220 ss713\"><div><div class=\"ps5627 ss710\"><span class=\"f charStyle-1bac868e ps630\">Exchange differences<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9769 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><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=\"ps9771 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:52.75pt\"></span></span><span class=\"ps9770\">(101)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9772 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><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=\"ps5686 ss713\"><div><div class=\"ps5627 ss710\"><span class=\"f charStyle-b07b4361 ps39\">Total contract assets at 31 December<span class=\"f ps40\"> </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=\"ps9774 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.44pt\"></span></span><span class=\"ps9773\">81,923</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9775 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.44pt\"></span></span><span class=\"ps9773\">37,609</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9777 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.61pt\"></span></span><span class=\"ps9776\">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=\"ps6305 ss713\"><div><div class=\"ps5627 ss710\"><span class=\"f charStyle-b07b4361 ps39\">Current<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9778 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.44pt\"></span></span><span class=\"ps9773\">81,923</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9779 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.44pt\"></span></span><span class=\"ps9773\">37,609</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9780 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.61pt\"></span></span><span class=\"ps9776\">8,880</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps6306 ss713\"><div><div class=\"ps5627 ss710\"><span class=\"f charStyle-b07b4361 ps39\">Non-current<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9781 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><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=\"ps9782 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><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=\"ps9783 ss714\"><div><div class=\"ps5627 ss180\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><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=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Expected credit loss on trade receivables<span id=\"i83725c9e4c5643f481f0fbf04d4f78e1\"></span></span></div><div class=\"ps369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group has historically only experienced immaterial credit losses on trade receivables, if any. In addition, </span></div><div class=\"ps370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">a material part of the cash flows under the Group\u2019s contracts consist of prepayments received up front.</span></div><div class=\"ps371 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group's assessment remains consistent with its historical experiences. Although certain receivables may </span></div><div class=\"ps372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">become up to </span><span class=\"f charStyle-c1b8f9f6 ps9003\">30 days</span><span class=\"f charStyle-c1b8f9f6 ps9786\"> overdue, the Group\u2019s overall credit risk profile remains unchanged. This assessment is </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">supported by historical loss data, a limited number of reliable counterparties, and the Group\u2019s forward-</span></div><div class=\"ps374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">looking outlook.</span></div><div class=\"ps9787 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies<span id=\"id45d7b41ad8e457a85cd27d16fcb0747\"></span></span></div><div class=\"ps9788 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Financial assets<span id=\"i84d16ac46774406bb2607018955ce9e3\"></span></span></div><div class=\"ps9789 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The classification of financial assets depends on the Group\u2019s business model for managing the financial </span></div><div class=\"ps9790 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">assets as well as the contractual terms of the cash flows of the respective financial assets.</span></div><div class=\"ps3391 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">(1)<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1762\">At initial recognition: the Group measures a financial asset at fair value, plus, in the case of a </span></div><div class=\"ps3393 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">financial asset not measured at fair value through profit or loss, transaction costs that are directly </span></div><div class=\"ps3394 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">attributable to the acquisition of the financial assets. Transaction costs of financial assets carried at </span></div><div class=\"ps3395 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">fair value through profit or loss are recognised as an expense in profit or loss.</span></div><div class=\"ps2689 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">(1i)<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1762\">At subsequent measurement: the Group\u2019s financial assets mainly comprise cash and bank balances, </span></div><div class=\"ps2690 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">trade receivables and other current assets.</span></div><div class=\"ps9647 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Interest income from these financial assets is recognised using the effective interest rate method.</span></div><div class=\"ps2366 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group assesses on a forward-looking basis the expected credit losses associated with its financial assets </span></div><div class=\"ps2367 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">carried at amortised cost. For trade and other receivables, the Group applied the simplified approach </span></div><div class=\"ps2368 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">permitted by IFRS 9, which requires lifetime expected losses to be recognised from initial recognition of the </span></div><div class=\"ps2369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">receivables.</span></div><div class=\"ps7512 ss0\"><div class=\"ss176 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=\"ps37 ss716\"><div><div class=\"ps9793 ss715\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9796 ss717\"><div><div class=\"ps8719 ss241\"><span class=\"f charStyle-054ead99 ps9794\">Trade <span class=\"f ps40\"> </span></span></div><div class=\"ps8720 ss241\"><span class=\"f charStyle-054ead99 ps9795\">receivables</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9799 ss717\"><div><div class=\"ps8719 ss241\"><span class=\"f charStyle-054ead99 ps9797\">Contract <span class=\"f ps40\"> </span></span></div><div class=\"ps8720 ss241\"><span class=\"f charStyle-054ead99 ps9798\">assets</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9801 ss717\"><div><div class=\"ps8719 ss241\"><span class=\"f charStyle-054ead99 ps9800\">Expected <span class=\"f ps40\"> </span></span></div><div class=\"ps8720 ss241\"><span class=\"f charStyle-054ead99 ps5212\">loss</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9802 ss703\"><div><div class=\"ps8720 ss297\"><span class=\"f charStyle-054ead99 ps7690\">Total<span class=\"f ps40\"> </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=\"ps5143 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-23b55a92 ps39\">31 December 2025<span class=\"f ps40\"> </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=\"ps9803 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-1bac868e ps630\">Not due<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9804 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.17pt\"></span></span><span class=\"ps7266\">115,559</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9805 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.02pt\"></span></span><span class=\"ps7276\">81,923</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9807 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9808 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.92pt\"></span></span><span class=\"ps9695\">197,482</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps6707 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-1bac868e ps630\">Overdue 1-30 days<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9810 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.67pt\"></span></span><span class=\"ps9809\">716</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9811 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9812 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9813 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">716</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps9814 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-1bac868e ps630\">Overdue 31 to 60 days<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9815 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.87pt\"></span></span><span class=\"ps7284\">1,459</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9816 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9817 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9818 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">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=\"ps7385 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-1bac868e ps630\">Overdue +61 days<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9819 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9820 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9821 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9822 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\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=\"ps9823 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-b07b4361 ps39\">Total<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9824 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.77pt\"></span></span><span class=\"ps7289\">117,734</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9826 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.94pt\"></span></span><span class=\"ps9825\">81,923</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9827 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9828 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.52pt\"></span></span><span class=\"ps7291\">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=\"ps2095 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-23b55a92 ps39\">31 December 2024<span class=\"f ps40\"> </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=\"ps2025 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-1bac868e ps630\">Not due<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9829 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.02pt\"></span></span><span class=\"ps7276\">49,029</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9830 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.02pt\"></span></span><span class=\"ps7276\">37,609</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9831 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9832 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7268\">86,638</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps7653 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-1bac868e ps630\">Overdue 1-30 days<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9833 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9834 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9835 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9836 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps5849 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-1bac868e ps630\">Overdue 31 to 60 days<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9837 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.87pt\"></span></span><span class=\"ps7284\">2,373</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9838 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9839 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9840 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">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=\"ps6601 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-1bac868e ps630\">Overdue +61 days<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9841 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.52pt\"></span></span><span class=\"ps9752\">65</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9842 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9843 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9844 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.27pt\"></span></span><span class=\"ps9590\">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=\"ps9845 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-b07b4361 ps39\">Total<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9846 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.94pt\"></span></span><span class=\"ps9825\">51,467</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9847 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.94pt\"></span></span><span class=\"ps9825\">37,609</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9848 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9849 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7299\">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=\"ps5740 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-23b55a92 ps39\">31 December 2023<span class=\"f ps40\"> </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=\"ps9850 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-1bac868e ps630\">Not due<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9851 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.87pt\"></span></span><span class=\"ps7284\">9,639</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9852 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.87pt\"></span></span><span class=\"ps7284\">8,880</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9853 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9854 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7268\">18,519</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps9855 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-1bac868e ps630\">Overdue 1-30 days<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9856 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.02pt\"></span></span><span class=\"ps7276\">14,287</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9857 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9858 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9859 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7268\">14,287</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps9860 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-1bac868e ps630\">Overdue 31 to 60 days<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9861 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.67pt\"></span></span><span class=\"ps9809\">603</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9862 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9863 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9864 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">603</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps3794 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-1bac868e ps630\">Overdue +61 days<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9865 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.87pt\"></span></span><span class=\"ps7284\">2,273</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9866 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9867 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9868 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">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=\"ps9869 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-b07b4361 ps39\">Total<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9870 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.94pt\"></span></span><span class=\"ps9825\">26,802</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9872 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.11pt\"></span></span><span class=\"ps9871\">8,880</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9873 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9874 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7299\">35,682</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps8676 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps2477\">Impairment of financial assets<span id=\"i3b70c7b829894e87a71fb465e6fd3d12\"></span></span></div><div class=\"ps8677 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">The Group assesses on a forward-looking basis the expected credit losses (ECLs) associated with its </span></div><div class=\"ps8678 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">financial assets which include trade and other receivables, cash and bank balances and contract assets. </span></div><div class=\"ps8679 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">Financial assets are written off when there is no reasonable expectation of recovery, such as when a non-</span></div><div class=\"ps8680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">related debtor fails to engage in a repayment plan with the Group.</span></div><div class=\"ps8681 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">Where receivables have been written off, the Group continues to pursue enforcement activities in an </span></div><div class=\"ps8682 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">attempt to recover amounts due. Where recoveries are made, these are recognised in profit or loss. As of </span></div><div class=\"ps8683 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">the reporting date, no receivables have been written off.</span></div><div class=\"ps3365 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">The Group has applied the simplified credit loss approach by using a provision matrix to measure the </span></div><div class=\"ps3200 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">lifetime expected credit losses for trade receivables from customers. To measure expected credit losses, the </span></div><div class=\"ps8685 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">Group groups receivables based on shared credit characteristics and days past due.</span></div><div class=\"ps9645 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">Trade receivables from external customers that are neither past due nor impaired are with creditworthy </span></div><div class=\"ps10288 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">counterparties. Based on the provision matrix, trade receivables from external customers are subject to </span></div><div class=\"ps10289 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">immaterial credit loss. For further analysis, refer to Note 16 for details on expected credit losses on trade </span></div><div class=\"ps10292 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">receivables and contract assets.</span></div><div class=\"ps10291 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">For cash and bank balances and other receivables measured at amortised cost, the Group considers these </span></div><div class=\"ps10293 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">financial assets to have low credit risk. Cash and bank balances mainly comprise deposits with banks that </span></div><div class=\"ps8704 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">have high credit ratings, as determined by international credit rating agencies. As of </span><span class=\"f charStyle-c1b8f9f6 ps10294\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10295\">, </span></div><div class=\"ps10298 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">cash and bank balances and other receivables are subject to immaterial credit loss. There is </span><span class=\"f charStyle-c1b8f9f6 ps10296\">no</span><span class=\"f charStyle-c1b8f9f6 ps10297\"> credit loss </span></div><div class=\"ps10305 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">allowance for other financial assets measured at amortised cost as of </span><span class=\"f charStyle-c1b8f9f6 ps10299\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10300\">, </span><span class=\"f charStyle-c1b8f9f6 ps10301\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10302\"> and </span><span class=\"f charStyle-c1b8f9f6 ps10303\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10304\">.</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=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Expected credit loss on trade receivables<span id=\"i83725c9e4c5643f481f0fbf04d4f78e1\"></span></span></div><div class=\"ps369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group has historically only experienced immaterial credit losses on trade receivables, if any. In addition, </span></div><div class=\"ps370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">a material part of the cash flows under the Group\u2019s contracts consist of prepayments received up front.</span></div><div class=\"ps371 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group's assessment remains consistent with its historical experiences. Although certain receivables may </span></div><div class=\"ps372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">become up to </span><span class=\"f charStyle-c1b8f9f6 ps9003\">30 days</span><span class=\"f charStyle-c1b8f9f6 ps9786\"> overdue, the Group\u2019s overall credit risk profile remains unchanged. This assessment is </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">supported by historical loss data, a limited number of reliable counterparties, and the Group\u2019s forward-</span></div><div class=\"ps374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">looking outlook.</span></div><div class=\"ps9787 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies<span id=\"id45d7b41ad8e457a85cd27d16fcb0747\"></span></span></div><div class=\"ps9788 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Financial assets<span id=\"i84d16ac46774406bb2607018955ce9e3\"></span></span></div><div class=\"ps9789 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The classification of financial assets depends on the Group\u2019s business model for managing the financial </span></div><div class=\"ps9790 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">assets as well as the contractual terms of the cash flows of the respective financial assets.</span></div><div class=\"ps3391 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">(1)<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1762\">At initial recognition: the Group measures a financial asset at fair value, plus, in the case of a </span></div><div class=\"ps3393 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">financial asset not measured at fair value through profit or loss, transaction costs that are directly </span></div><div class=\"ps3394 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">attributable to the acquisition of the financial assets. Transaction costs of financial assets carried at </span></div><div class=\"ps3395 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">fair value through profit or loss are recognised as an expense in profit or loss.</span></div><div class=\"ps2689 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">(1i)<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1762\">At subsequent measurement: the Group\u2019s financial assets mainly comprise cash and bank balances, </span></div><div class=\"ps2690 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">trade receivables and other current assets.</span></div><div class=\"ps9647 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Interest income from these financial assets is recognised using the effective interest rate method.</span></div><div class=\"ps2366 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group assesses on a forward-looking basis the expected credit losses associated with its financial assets </span></div><div class=\"ps2367 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">carried at amortised cost. For trade and other receivables, the Group applied the simplified approach </span></div><div class=\"ps2368 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">permitted by IFRS 9, which requires lifetime expected losses to be recognised from initial recognition of the </span></div><div class=\"ps2369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">receivables.</span></div><div class=\"ps7512 ss0\"><div class=\"ss176 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=\"ps37 ss716\"><div><div class=\"ps9793 ss715\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9796 ss717\"><div><div class=\"ps8719 ss241\"><span class=\"f charStyle-054ead99 ps9794\">Trade <span class=\"f ps40\"> </span></span></div><div class=\"ps8720 ss241\"><span class=\"f charStyle-054ead99 ps9795\">receivables</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9799 ss717\"><div><div class=\"ps8719 ss241\"><span class=\"f charStyle-054ead99 ps9797\">Contract <span class=\"f ps40\"> </span></span></div><div class=\"ps8720 ss241\"><span class=\"f charStyle-054ead99 ps9798\">assets</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9801 ss717\"><div><div class=\"ps8719 ss241\"><span class=\"f charStyle-054ead99 ps9800\">Expected <span class=\"f ps40\"> </span></span></div><div class=\"ps8720 ss241\"><span class=\"f charStyle-054ead99 ps5212\">loss</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9802 ss703\"><div><div class=\"ps8720 ss297\"><span class=\"f charStyle-054ead99 ps7690\">Total<span class=\"f ps40\"> </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=\"ps5143 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-23b55a92 ps39\">31 December 2025<span class=\"f ps40\"> </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=\"ps9803 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-1bac868e ps630\">Not due<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9804 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.17pt\"></span></span><span class=\"ps7266\">115,559</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9805 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.02pt\"></span></span><span class=\"ps7276\">81,923</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9807 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9808 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.92pt\"></span></span><span class=\"ps9695\">197,482</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps6707 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-1bac868e ps630\">Overdue 1-30 days<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9810 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.67pt\"></span></span><span class=\"ps9809\">716</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9811 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9812 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9813 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">716</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps9814 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-1bac868e ps630\">Overdue 31 to 60 days<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9815 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.87pt\"></span></span><span class=\"ps7284\">1,459</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9816 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9817 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9818 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">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=\"ps7385 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-1bac868e ps630\">Overdue +61 days<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9819 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9820 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9821 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9822 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\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=\"ps9823 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-b07b4361 ps39\">Total<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9824 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.77pt\"></span></span><span class=\"ps7289\">117,734</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9826 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.94pt\"></span></span><span class=\"ps9825\">81,923</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9827 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9828 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.52pt\"></span></span><span class=\"ps7291\">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=\"ps2095 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-23b55a92 ps39\">31 December 2024<span class=\"f ps40\"> </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=\"ps2025 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-1bac868e ps630\">Not due<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9829 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.02pt\"></span></span><span class=\"ps7276\">49,029</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9830 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.02pt\"></span></span><span class=\"ps7276\">37,609</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9831 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9832 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7268\">86,638</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps7653 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-1bac868e ps630\">Overdue 1-30 days<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9833 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9834 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9835 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9836 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps5849 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-1bac868e ps630\">Overdue 31 to 60 days<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9837 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.87pt\"></span></span><span class=\"ps7284\">2,373</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9838 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9839 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9840 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">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=\"ps6601 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-1bac868e ps630\">Overdue +61 days<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9841 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.52pt\"></span></span><span class=\"ps9752\">65</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9842 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9843 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9844 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.27pt\"></span></span><span class=\"ps9590\">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=\"ps9845 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-b07b4361 ps39\">Total<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9846 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.94pt\"></span></span><span class=\"ps9825\">51,467</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9847 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.94pt\"></span></span><span class=\"ps9825\">37,609</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9848 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9849 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7299\">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=\"ps5740 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-23b55a92 ps39\">31 December 2023<span class=\"f ps40\"> </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=\"ps9850 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-1bac868e ps630\">Not due<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9851 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.87pt\"></span></span><span class=\"ps7284\">9,639</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9852 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.87pt\"></span></span><span class=\"ps7284\">8,880</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9853 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9854 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7268\">18,519</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps9855 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-1bac868e ps630\">Overdue 1-30 days<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9856 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.02pt\"></span></span><span class=\"ps7276\">14,287</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9857 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9858 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9859 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7268\">14,287</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"padding:0\"><div class=\"ps9860 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-1bac868e ps630\">Overdue 31 to 60 days<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9861 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.67pt\"></span></span><span class=\"ps9809\">603</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9862 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9863 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9864 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">603</span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps3794 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-1bac868e ps630\">Overdue +61 days<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9865 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.87pt\"></span></span><span class=\"ps7284\">2,273</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9866 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9867 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9868 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">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=\"ps9869 ss718\"><div><div class=\"ps2579 ss715\"><span class=\"f charStyle-b07b4361 ps39\">Total<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9870 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.94pt\"></span></span><span class=\"ps9825\">26,802</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9872 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.11pt\"></span></span><span class=\"ps9871\">8,880</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9873 ss719\"><div><div class=\"ps2579 ss241\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:47.22pt\"></span></span><span class=\"ps9806\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9874 ss720\"><div><div class=\"ps2579 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7299\">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-574": {
   "value": "<div class=\"ps9787 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies<span id=\"id45d7b41ad8e457a85cd27d16fcb0747\"></span></span></div><div class=\"ps9788 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Financial assets<span id=\"i84d16ac46774406bb2607018955ce9e3\"></span></span></div><div class=\"ps9789 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The classification of financial assets depends on the Group\u2019s business model for managing the financial </span></div><div class=\"ps9790 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">assets as well as the contractual terms of the cash flows of the respective financial assets.</span></div><div class=\"ps3391 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">(1)<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1762\">At initial recognition: the Group measures a financial asset at fair value, plus, in the case of a </span></div><div class=\"ps3393 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">financial asset not measured at fair value through profit or loss, transaction costs that are directly </span></div><div class=\"ps3394 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">attributable to the acquisition of the financial assets. Transaction costs of financial assets carried at </span></div><div class=\"ps3395 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">fair value through profit or loss are recognised as an expense in profit or loss.</span></div><div class=\"ps2689 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">(1i)<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1762\">At subsequent measurement: the Group\u2019s financial assets mainly comprise cash and bank balances, </span></div><div class=\"ps2690 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">trade receivables and other current assets.</span></div><div class=\"ps9647 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Interest income from these financial assets is recognised using the effective interest rate method.</span></div><div class=\"ps2366 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group assesses on a forward-looking basis the expected credit losses associated with its financial assets </span></div><div class=\"ps2367 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">carried at amortised cost. For trade and other receivables, the Group applied the simplified approach </span></div><div class=\"ps2368 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">permitted by IFRS 9, which requires lifetime expected losses to be recognised from initial recognition of the </span></div><div class=\"ps2369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">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-573": {
   "value": "<div class=\"ps9787 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies<span id=\"id45d7b41ad8e457a85cd27d16fcb0747\"></span></span></div><div class=\"ps9788 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Financial assets<span id=\"i84d16ac46774406bb2607018955ce9e3\"></span></span></div><div class=\"ps9789 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The classification of financial assets depends on the Group\u2019s business model for managing the financial </span></div><div class=\"ps9790 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">assets as well as the contractual terms of the cash flows of the respective financial assets.</span></div><div class=\"ps3391 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">(1)<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1762\">At initial recognition: the Group measures a financial asset at fair value, plus, in the case of a </span></div><div class=\"ps3393 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">financial asset not measured at fair value through profit or loss, transaction costs that are directly </span></div><div class=\"ps3394 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">attributable to the acquisition of the financial assets. Transaction costs of financial assets carried at </span></div><div class=\"ps3395 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">fair value through profit or loss are recognised as an expense in profit or loss.</span></div><div class=\"ps2689 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">(1i)<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1762\">At subsequent measurement: the Group\u2019s financial assets mainly comprise cash and bank balances, </span></div><div class=\"ps2690 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">trade receivables and other current assets.</span></div><div class=\"ps9647 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Interest income from these financial assets is recognised using the effective interest rate method.</span></div><div class=\"ps2366 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group assesses on a forward-looking basis the expected credit losses associated with its financial assets </span></div><div class=\"ps2367 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">carried at amortised cost. For trade and other receivables, the Group applied the simplified approach </span></div><div class=\"ps2368 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">permitted by IFRS 9, which requires lifetime expected losses to be recognised from initial recognition of the </span></div><div class=\"ps2369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">receivables.</span></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-644c6314 ps1006\">Change in debts to credit institutions during the year</span></div><div class=\"ps10494 ss0\"><div class=\"ss176 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=\"ps37 ss740\"><div><div class=\"ps7618 ss598\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7532 ss741\"><div><div class=\"ps4441 ss147\"><span class=\"f charStyle-281247bf ps6086\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10385 ss741\"><div><div class=\"ps4441 ss147\"><span class=\"f charStyle-054ead99 ps6086\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6049 ss741\"><div><div class=\"ps4441 ss147\"><span class=\"f charStyle-054ead99 ps6086\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps439 ss740\"><div><div class=\"ps435 ss598\"><span class=\"f charStyle-1bac868e ps630\">Debt to credit institutions at 1 January<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10474 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10473\">(571,017)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10475 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10473\">(205,572)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7731 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10473\">(115,002)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps460 ss740\"><div><div class=\"ps435 ss598\"><span class=\"f charStyle-1bac868e ps630\">Loans repayments<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10476 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">279,281</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10477 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">10,630</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7734 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">115,000</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5518 ss740\"><div><div class=\"ps435 ss598\"><span class=\"f charStyle-1bac868e ps630\">Proceeds from borrowing<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10479 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:6.95pt\"></span></span><span class=\"ps10478\">(1,337,178)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10480 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10473\">(385,234)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7738 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10473\">(211,934)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5527 ss740\"><div><div class=\"ps435 ss598\"><span class=\"f charStyle-1bac868e ps630\">New loan fees<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10481 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">25,193</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10482 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">11,100</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7740 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">8,262</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5532 ss740\"><div><div class=\"ps435 ss598\"><span class=\"f charStyle-1bac868e ps630\">Non-cash movements<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10484 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10483\">(7,033)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10485 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10483\">(1,941)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7743 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5537 ss740\"><div><div class=\"ps435 ss598\"><span class=\"f charStyle-1bac868e ps630\">Write-off of loan fees<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10486 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10487 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10488 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10483\">(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=\"ps59 ss740\"><div><div class=\"ps435 ss598\"><span class=\"f charStyle-b07b4361 ps39\">Debt to credit institutions at 31 December 2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10490 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:2.53pt\"></span></span><span class=\"ps10489\">(1,610,754)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10492 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:10.13pt\"></span></span><span class=\"ps10491\">(571,017)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10493 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:10.13pt\"></span></span><span class=\"ps10491\">(205,572)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps4569 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Total </span><span class=\"f charStyle-c1b8f9f6 ps10496\">Proceeds from borrowing, net of bank fees, </span><span class=\"f charStyle-c1b8f9f6 ps10497\">in </span><span class=\"f charStyle-c1b8f9f6 ps10498\">2025</span><span class=\"f charStyle-c1b8f9f6 ps10499\"> as per Consolidated Statement of Cash Flows </span></div><div class=\"ps4570 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">amounted to </span><span class=\"f charStyle-c1b8f9f6 ps10500\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10501\"> </span><span class=\"f charStyle-c1b8f9f6 ps10502\">1,309</span><span class=\"f charStyle-c1b8f9f6 ps10503\"> million, excluding </span><span class=\"f charStyle-c1b8f9f6 ps10504\">EUR </span><span class=\"f charStyle-c1b8f9f6 ps10505\">2.8</span><span class=\"f charStyle-c1b8f9f6 ps10506\"> of loan fees that have been included in Prepayments.</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 ps183\">Note 25</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Financial Liabilities: Interest-bearing Loans and Borrowings<span id=\"ia0b999c032cd4b8fa64ba3530eed0930\"></span></span></div><div class=\"ps9289 ss0\"><div class=\"ss786 ws0 ps67\"><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=\"ps37 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-b07b4361 ps39\">As of 31 December 2025<span class=\"f ps40\"> </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=\"ps10928 ss783\"><div><div class=\"ps4441 ss782\"><span class=\"f charStyle-b07b4361 ps10927\">Committed (EUR millions)<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"padding:0\"><div class=\"ps10929 ss785\"><div><div class=\"ps7618 ss784\"><span class=\"f charStyle-64a4cf84 ps39\">Related derivatives contracts<span class=\"f ps40\"> </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=\"ps439 ss709\"><div><div class=\"ps8191 ss697\"><span class=\"f charStyle-4979afbe ps39\">EUR Millions<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10821 ss768\"><div><div class=\"ps8191 ss431\"><span class=\"f charStyle-4979afbe ps39\">Interest rate<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10822 ss471\"><div><div class=\"ps8191 ss336\"><span class=\"f charStyle-4979afbe ps39\">Maturity<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10823 ss770\"><div><div class=\"ps8191 ss769\"><span class=\"f charStyle-4979afbe ps39\">Covenants<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10824 ss772\"><div><div class=\"ps5627 ss771\"><span class=\"f charStyle-281247bf ps3989\">Utilised<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10827 ss303\"><div><div class=\"ps5628 ss297\"><span class=\"f charStyle-281247bf ps10825\">Accumulated <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss297\"><span class=\"f charStyle-281247bf ps10826\">repayments</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10829 ss773\"><div><div class=\"ps5627 ss316\"><span class=\"f charStyle-281247bf ps10828\">Unutilised<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10831 ss774\"><div><div class=\"ps8191 ss241\"><span class=\"f charStyle-4979afbe ps10830\">Average IRS rate<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10835 ss774\"><div><div class=\"ps10833 ss241\"><span class=\"f charStyle-4979afbe ps10832\">IRS nominal (EUR <span class=\"f ps40\"> </span></span></div><div class=\"ps8191 ss241\"><span class=\"f charStyle-4979afbe ps10834\">millions)</span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps1989 ss775\"><div><div class=\"ps4607 ss697\"><span class=\"f charStyle-b07b4361 ps39\">Secured<span class=\"f ps40\"> </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=\"ps2138 ss775\"><div><div class=\"ps4607 ss697\"><span class=\"f charStyle-1bac868e ps630\">Green Corporate Facility (RCF + term loan)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10840 ss776\"><div><div class=\"ps4607 ss431\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3807\">3 months EURIBOR + </span><span class=\"f charStyle-36184c7f ps10837\">2%</span><span class=\"f charStyle-36184c7f ps10838\"> - </span><span class=\"f charStyle-36184c7f ps10839\">2.75%</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10842 ss479\"><div><div class=\"ps4607 ss336\"><span class=\"f charStyle-e5ec5c44 ps10841\">2032<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10844 ss777\"><div><div class=\"ps4607 ss769\"><span class=\"f charStyle-e5ec5c44 ps10843\">Yes - refer to page 203<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10846 ss778\"><div><div class=\"ps4607 ss771\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:52.17pt\"></span></span><span class=\"ps10845\">283</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10847 ss779\"><div><div class=\"ps4607 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.85pt\"></span></span><span class=\"ps9592\">(87)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10849 ss780\"><div><div class=\"ps4607 ss316\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:54.42pt\"></span></span><span class=\"ps10848\">148</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10851 ss781\"><div><div class=\"ps4607 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps10850\"></span><span class=\"ps10850\">2.7</span><span class=\"ps5318\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10852 ss781\"><div><div class=\"ps4607 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.67pt\"></span></span><span class=\"ps9809\">247</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5955 ss775\"><div><div class=\"ps4607 ss697\"><span class=\"f charStyle-1bac868e ps630\">Green Corporate Facility - Guarantee<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10855 ss776\"><div><div class=\"ps4607 ss431\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3807\">0.8%</span><span class=\"f charStyle-36184c7f ps10853\"> - </span><span class=\"f charStyle-36184c7f ps10854\">1.2%</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10856 ss479\"><div><div class=\"ps4607 ss336\"><span class=\"f charStyle-e5ec5c44 ps10841\">2026<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10857 ss777\"><div><div class=\"ps4607 ss769\"><span class=\"f charStyle-e5ec5c44 ps10843\">Yes - refer to page 203<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10858 ss778\"><div><div class=\"ps4607 ss771\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:52.17pt\"></span></span><span class=\"ps10845\">157</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10859 ss779\"><div><div class=\"ps4607 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10861 ss780\"><div><div class=\"ps4607 ss316\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:59.27pt\"></span></span><span class=\"ps10860\">43</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10862 ss781\"><div><div class=\"ps4607 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\"></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=\"ps2892 ss775\"><div><div class=\"ps4607 ss697\"><span class=\"f charStyle-b07b4361 ps39\">Total Green Corporate Facility<span class=\"f ps40\"> </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=\"ps10864 ss778\"><div><div class=\"ps4607 ss771\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.21pt\"></span></span><span class=\"ps10863\">440</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10866 ss779\"><div><div class=\"ps4607 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.99pt\"></span></span><span class=\"ps10865\">(87)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10868 ss780\"><div><div class=\"ps4607 ss316\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:53.46pt\"></span></span><span class=\"ps10867\">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=\"ps5686 ss775\"><div><div class=\"ps4607 ss697\"><span class=\"f charStyle-1bac868e ps630\">P-Class Facility\u00b9<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10869 ss776\"><div><div class=\"ps4607 ss431\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3807\">3 months EURIBOR + </span><span class=\"f charStyle-36184c7f ps10837\">1.6%</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10870 ss479\"><div><div class=\"ps4607 ss336\"><span class=\"f charStyle-e5ec5c44 ps10841\">2037<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10871 ss777\"><div><div class=\"ps4607 ss769\"><span class=\"f charStyle-e5ec5c44 ps10843\">Yes - refer to page 203<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10872 ss778\"><div><div class=\"ps4607 ss771\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:52.17pt\"></span></span><span class=\"ps10845\">421</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10873 ss779\"><div><div class=\"ps4607 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.85pt\"></span></span><span class=\"ps9592\">(35)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10875 ss780\"><div><div class=\"ps4607 ss316\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:59.97pt\"></span></span><span class=\"ps10874\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10876 ss781\"><div><div class=\"ps4607 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps10850\"></span><span class=\"ps10850\">3.0</span><span class=\"ps5318\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10877 ss781\"><div><div class=\"ps4607 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.87pt\"></span></span><span class=\"ps7284\">105.1</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps10878 ss775\"><div><div class=\"ps4607 ss697\"><span class=\"f charStyle-1bac868e ps630\">A-Class Facility I &amp; II<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10879 ss776\"><div><div class=\"ps4607 ss431\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3807\">3 months EURIBOR + </span><span class=\"f charStyle-36184c7f ps10837\">1.6%</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10880 ss479\"><div><div class=\"ps4607 ss336\"><span class=\"f charStyle-e5ec5c44 ps10841\">2037<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10881 ss777\"><div><div class=\"ps4607 ss769\"><span class=\"f charStyle-e5ec5c44 ps10843\">Yes - refer to page 203<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10882 ss778\"><div><div class=\"ps4607 ss771\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:52.17pt\"></span></span><span class=\"ps10845\">262</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10884 ss779\"><div><div class=\"ps4607 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.7pt\"></span></span><span class=\"ps10883\">(5)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10885 ss780\"><div><div class=\"ps4607 ss316\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:54.42pt\"></span></span><span class=\"ps10848\">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=\"ps2107 ss775\"><div><div class=\"ps4607 ss697\"><span class=\"f charStyle-1bac868e ps630\">Wind Keeper Facility<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10886 ss776\"><div><div class=\"ps4607 ss431\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3807\">3 months EURIBOR + </span><span class=\"f charStyle-36184c7f ps10837\">2.1%</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10887 ss479\"><div><div class=\"ps4607 ss336\"><span class=\"f charStyle-e5ec5c44 ps10841\">2030<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10888 ss777\"><div><div class=\"ps4607 ss769\"><span class=\"f charStyle-e5ec5c44 ps10843\">Yes - refer to page 203<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10889 ss778\"><div><div class=\"ps4607 ss771\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:52.17pt\"></span></span><span class=\"ps10845\">125</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10890 ss779\"><div><div class=\"ps4607 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10891 ss780\"><div><div class=\"ps4607 ss316\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:59.97pt\"></span></span><span class=\"ps10874\">\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=\"ps10892 ss775\"><div><div class=\"ps4607 ss697\"><span class=\"f charStyle-1bac868e ps630\">M-Class Facility I &amp; II<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10893 ss776\"><div><div class=\"ps4607 ss431\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3807\">3 months EURIBOR + </span><span class=\"f charStyle-36184c7f ps10837\">2.5%</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10894 ss479\"><div><div class=\"ps4607 ss336\"><span class=\"f charStyle-e5ec5c44 ps10841\">2037<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10895 ss777\"><div><div class=\"ps4607 ss769\"><span class=\"f charStyle-e5ec5c44 ps10843\">Yes - refer to page 203<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10896 ss778\"><div><div class=\"ps4607 ss771\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:52.17pt\"></span></span><span class=\"ps10845\">420</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10897 ss779\"><div><div class=\"ps4607 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.85pt\"></span></span><span class=\"ps9592\">(13)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10898 ss780\"><div><div class=\"ps4607 ss316\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:59.97pt\"></span></span><span class=\"ps10874\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10899 ss781\"><div><div class=\"ps4607 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\"></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=\"ps6014 ss775\"><div><div class=\"ps4607 ss697\"><span class=\"f charStyle-b07b4361 ps39\">Unsecured<span class=\"f ps40\"> </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=\"ps10900 ss775\"><div><div class=\"ps4607 ss697\"><span class=\"f charStyle-1bac868e ps630\">HoldCo Facility<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10901 ss776\"><div><div class=\"ps4607 ss431\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3807\">3 months EURIBOR + </span><span class=\"f charStyle-36184c7f ps10837\">4%</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10902 ss479\"><div><div class=\"ps4607 ss336\"><span class=\"f charStyle-e5ec5c44 ps10841\">2028<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10903 ss777\"><div><div class=\"ps4607 ss769\"><span class=\"f charStyle-1bac868e ps39\">Yes - refer to page 203<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10904 ss778\"><div><div class=\"ps4607 ss771\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:52.17pt\"></span></span><span class=\"ps10845\">125</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10905 ss779\"><div><div class=\"ps4607 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10906 ss780\"><div><div class=\"ps4607 ss316\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:59.97pt\"></span></span><span class=\"ps10874\">\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=\"ps5755 ss775\"><div><div class=\"ps4607 ss697\"><span class=\"f charStyle-1bac868e ps630\">HoldCo Facility II<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10907 ss776\"><div><div class=\"ps4607 ss431\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3807\">3 months EURIBOR + </span><span class=\"f charStyle-36184c7f ps10837\">4%</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10908 ss479\"><div><div class=\"ps4607 ss336\"><span class=\"f charStyle-e5ec5c44 ps10841\">2030<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10909 ss777\"><div><div class=\"ps4607 ss769\"><span class=\"f charStyle-1bac868e ps39\">Yes - refer to page 203<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10911 ss778\"><div><div class=\"ps4607 ss771\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:57.02pt\"></span></span><span class=\"ps10910\">60</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10912 ss779\"><div><div class=\"ps4607 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10913 ss780\"><div><div class=\"ps4607 ss316\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:59.97pt\"></span></span><span class=\"ps10874\">\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=\"ps10462 ss775\"><div><div class=\"ps4607 ss697\"><span class=\"f charStyle-1bac868e ps630\">Unsecured guarantee facility<span class=\"f ps40\"> </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=\"ps10914 ss777\"><div><div class=\"ps4607 ss769\"><span class=\"f charStyle-1bac868e ps39\">Yes - refer to page 203<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10915 ss778\"><div><div class=\"ps4607 ss771\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:57.02pt\"></span></span><span class=\"ps10910\">96</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10916 ss779\"><div><div class=\"ps4607 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10918 ss780\"><div><div class=\"ps4607 ss316\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:64.12pt\"></span></span><span class=\"ps10917\">7</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10919 ss781\"><div><div class=\"ps4607 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\"></span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10920 ss781\"><div><div class=\"ps4607 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\"></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"background-color:#206079;padding:0\"><div class=\"ps5349 ss775\"><div><div class=\"ps4607 ss697\"><span class=\"f charStyle-23b55a92 ps39\">Total (excluding Guarantee facility)<span class=\"f ps40\"> </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=\"ps10923 ss778\"><div><div class=\"ps4607 ss771\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.98pt\"></span></span><span class=\"ps10921\">1,696</span><span class=\"ps10922\">\u00b2</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10925 ss779\"><div><div class=\"ps4607 ss297\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.82pt\"></span></span><span class=\"ps10924\">(140)</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10926 ss780\"><div><div class=\"ps4607 ss316\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:53.46pt\"></span></span><span class=\"ps10867\">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=\"ps10959 ss0\"><div class=\"ss787 ws0 ps67\"><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=\"ps37 ss788\"><div><div class=\"ps10948 ss787\" style=\"font-size:12pt\"><span class=\"f charStyle-f8d16a17 ps10930\"><sup>1 </sup></span><span class=\"f charStyle-df865089 ps10931\">For the P-class Facility, up to </span><span class=\"f charStyle-df865089 ps10932\">EUR</span><span class=\"f charStyle-df865089 ps10933\"> </span><span class=\"f charStyle-df865089 ps10934\">425</span><span class=\"f charStyle-df865089 ps10935\"> million, </span><span class=\"f charStyle-df865089 ps10936\">EUR</span><span class=\"f charStyle-df865089 ps10937\"> </span><span class=\"f charStyle-df865089 ps10938\">214</span><span class=\"f charStyle-df865089 ps10939\">million was available for Wind Peak of which </span><span class=\"f charStyle-df865089 ps10940\">EUR</span><span class=\"f charStyle-df865089 ps10941\"> </span><span class=\"f charStyle-df865089 ps10942\">421 million</span><span class=\"f charStyle-df865089 ps10943\"> has been utilised and the remaining </span><span class=\"f charStyle-df865089 ps10944\">EUR</span><span class=\"f charStyle-58d8bcbe ps10945\"> </span><span class=\"f charStyle-df865089 ps10946\">4</span><span class=\"f charStyle-df865089 ps10947\"> million lapsed. </span></div><div class=\"ps10958 ss787\" style=\"font-size:12pt\"><span class=\"f charStyle-f8d16a17 ps10930\"><sup>2</sup></span><span class=\"f charStyle-df865089 ps10949\"> The difference between </span><span class=\"f charStyle-df865089 ps10950\">EUR</span><span class=\"f charStyle-df865089 ps10951\"> </span><span class=\"f charStyle-df865089 ps10952\">1,696 million</span><span class=\"f charStyle-df865089 ps10953\"> and the carrying amount of </span><span class=\"f charStyle-df865089 ps10954\">EUR</span><span class=\"f charStyle-58d8bcbe ps10955\"> </span><span class=\"f charStyle-df865089 ps10956\">1,611 million</span><span class=\"f charStyle-df865089 ps10957\"> is mainly related to interest and fees.</span></div></div></div></td></tr></tbody></table></div></div></div></div><div class=\"ps10963 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Green Corporate Facility (formerly referred to as \u201cNew <span id=\"i4641db1b21454607875c215d46850a8c\"></span></span></div><div class=\"ps10964 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">debt Facility\u201d)</span></div><div class=\"ps10965 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In December 2023, Cadeler announced the signing of a EUR </span></div><div class=\"ps8936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">550\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10966\"> Senior Secured Green Facilities, the \u201cGreen Corporate </span></div><div class=\"ps7350 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Facility\u201d, with a group of banks led by DNB and supported by </span></div><div class=\"ps6985 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Rabobank, Credit Agricole, Danske Bank, Oversea-Chinese Banking </span></div><div class=\"ps7362 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Corporation (\u201cOCBC\u201d), Standard Chartered Bank and Soci\u00e9t\u00e9 </span></div><div class=\"ps9349 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">G\u00e9n\u00e9rale.</span></div><div class=\"ps6988 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The main objective of the Green Corporate Facility is to refinance </span></div><div class=\"ps9352 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">and fund upgrades to existing vessels, as well as to provide funding </span></div><div class=\"ps9353 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">for general corporate and working capital purposes.</span></div><div class=\"ps8948 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Green Corporate Facility comprises two RCFs amounting to EUR </span></div><div class=\"ps8949 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">350\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10966\">, a EUR </span><span class=\"f charStyle-c1b8f9f6 ps10967\">100\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10968\"> term loan guaranteed by The Danish </span></div><div class=\"ps9356 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Export and Investment Fund of Denmark (EIFO) and a EUR </span></div><div class=\"ps10969 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">200\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10966\"> uncommitted Guarantee facility.</span></div><div class=\"ps10970 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Holdco Facility<span id=\"idc8116543ec04d0085a457bedbf8be4f\"></span></span></div><div class=\"ps8951 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In November 2023, Cadeler entered into a bilateral unsecured </span></div><div class=\"ps10973 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Green Loan Facility with HSBC of EUR </span><span class=\"f charStyle-c1b8f9f6 ps10971\">80\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10972\">, which was upsized </span></div><div class=\"ps10976 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">to EUR </span><span class=\"f charStyle-c1b8f9f6 ps10974\">125\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10975\"> during 2024. The main purpose of the facility has </span></div><div class=\"ps3209 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">been to pre-finance the construction of the P-class and A-class </span></div><div class=\"ps10977 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">newbuild vessels in addition to the upgrade of the existing O-class </span></div><div class=\"ps9387 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">vessels.</span></div><div class=\"ps10978 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In November 2025, Cadeler entered into a second unsecured Green </span></div><div class=\"ps10982 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Loan Facility with HSBC and C</span><span class=\"f charStyle-c1b8f9f6 ps10979\">lifford Capital of EUR </span><span class=\"f charStyle-c1b8f9f6 ps10980\">60\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10981\"> with a </span></div><div class=\"ps10985 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">non-committed accordion option of up to EUR </span><span class=\"f charStyle-c1b8f9f6 ps10983\">80\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10984\">.</span></div><div class=\"ps10986 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">As of 31 December 2025, both unsecured facilities are fully utilised.</span></div><div class=\"ps10962 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-80a97fbb ps224\">Project Financing<span id=\"if56c08fedad24245974e647b20856c71\"></span></span></div><div class=\"ps10963 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps224\">P-class Facility<span id=\"if516b9384d2744eba9fb89344e3d0373\"></span></span></div><div class=\"ps3114 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">In December 2023, Cadeler announced the signing of a Sinosure-</span></div><div class=\"ps3115 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">backed Senior Secured Green Term Loan Facility of up to </span></div><div class=\"ps3116 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">EUR425\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10987\">. The purpose of the P-class Facility is to finance </span></div><div class=\"ps3117 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">Cadeler\u2019s </span><span class=\"f charStyle-c1b8f9f6 ps10988\">two</span><span class=\"f charStyle-c1b8f9f6 ps10989\"> newbuild vessels, Wind Peak and Wind Pace, which </span></div><div class=\"ps3118 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">were delivered on August 2024 and March 2025, respectively.</span></div><div class=\"ps10990 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps224\">M-class Facility I &amp; II<span id=\"i62f7e5a2ba7d497faf900a30229af0df\"></span></span></div><div class=\"ps6987 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">In August 2024, Cadeler successfully refinanced the USD </span><span class=\"f charStyle-c1b8f9f6 ps10991\">436\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10992\"> </span></div><div class=\"ps6988 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">Senior Secured Green Term Loan Facility (M-class Facility) to </span><span class=\"f charStyle-c1b8f9f6 ps10993\">two</span><span class=\"f charStyle-c1b8f9f6 ps10994\"> </span></div><div class=\"ps9352 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">individual M-class facilities (M-class Facility I and M-class Facility II). </span></div><div class=\"ps9353 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">Both facilities are backed by Danmarks Eksport og Investeringsfond </span></div><div class=\"ps9354 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">(EIFO) and Export Finance Norway (Eksfin), and provide an </span></div><div class=\"ps9346 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">aggregate of up to </span><span class=\"f charStyle-c1b8f9f6 ps10995\">EUR420\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10996\"> in post-delivery financing. The </span></div><div class=\"ps9347 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">two</span><span class=\"f charStyle-c1b8f9f6 ps10997\"> newbuild vessels, Wind Maker and Wind Mover, were delivered </span></div><div class=\"ps10998 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">on January 2025 and November 2025, respectively.</span></div><div class=\"ps10999 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps224\">A-class Facility <span id=\"ia625b8cce4d34ba99b793a6c7821118d\"></span></span></div><div class=\"ps11002 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">In March 2025, Cadeler entered into a EUR </span><span class=\"f charStyle-c1b8f9f6 ps11000\">525</span><span class=\"f charStyle-c1b8f9f6 ps11001\">m Green Term Loan </span></div><div class=\"ps3430 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">Pre-Delivery and Post-Delivery Facility secured by Sinosure and </span></div><div class=\"ps3431 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">Eksfin. The purpose of the facility is to finance Cadeler\u2019s </span><span class=\"f charStyle-c1b8f9f6 ps11003\">two</span><span class=\"f charStyle-c1b8f9f6 ps11004\"> </span></div><div class=\"ps3432 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">newbuild vessels, Wind Ally and Wind Ace. Wind Ally has been </span></div><div class=\"ps3433 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">successful delivered ahead of schedule in September 2025 and </span></div><div class=\"ps3434 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">Wind Ace is expected to be delivered in Q1 2026.</span></div><div class=\"ps11005 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps224\">Keeper Facility<span id=\"id6d845dd45ba4bc28b6208ff6637defb\"></span></span></div><div class=\"ps2396 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">In May 2025, Cadeler entered into a bridge facility of up to EUR </span></div><div class=\"ps2397 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">150\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps11006\"> for the acquisition of Wind Keeper. This facility was </span></div><div class=\"ps11009 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">subsequently refinanced by a EUR </span><span class=\"f charStyle-c1b8f9f6 ps11007\">125\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps11008\"> Green Term Loan, </span></div><div class=\"ps11010 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">which was fully drawn in October 2025.</span></div><div class=\"ps11011 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Covenants<span id=\"i39fb197c8cdb45309962aab6c128e6be\"></span></span></div><div class=\"ps11013 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group debt </span><span class=\"f charStyle-c1b8f9f6 ps11012\">facilities include the following covenants:</span></div><div class=\"ps11015 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">All debt facilities</span></div><div class=\"ps11016 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">\u2022<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1762\">Minimum Free Liquidity: Freely available cash and cash </span></div><div class=\"ps11024 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">equivalents of i) the higher of</span><span class=\"f charStyle-c1b8f9f6 ps11017\"> </span><span class=\"f charStyle-c1b8f9f6 ps11018\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps11019\"> </span><span class=\"f charStyle-c1b8f9f6 ps11020\">35</span><span class=\"f charStyle-c1b8f9f6 ps11021\"> million or </span><span class=\"f charStyle-c1b8f9f6 ps11022\">5%</span><span class=\"f charStyle-c1b8f9f6 ps11023\"> of gross </span></div><div class=\"ps11025 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">interest-bearing debt, where the ratio of forward-looking </span></div><div class=\"ps11028 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">contract cash flow to net interest-bearing debt exceeds </span><span class=\"f charStyle-c1b8f9f6 ps11026\">50%</span><span class=\"f charStyle-c1b8f9f6 ps11027\"> </span></div><div class=\"ps11034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">or ii) </span><span class=\"f charStyle-c1b8f9f6 ps11029\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps11030\"> </span><span class=\"f charStyle-c1b8f9f6 ps11031\">50</span><span class=\"f charStyle-c1b8f9f6 ps3664\"> million or an amount equal to </span><span class=\"f charStyle-c1b8f9f6 ps11032\">7.5%</span><span class=\"f charStyle-c1b8f9f6 ps11033\"> of gross </span></div><div class=\"ps11035 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">interest-bearing debt at all other times.</span></div><div class=\"ps11037 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">\u2022<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1762\">Equity Ratio: The ratio of b</span><span class=\"f charStyle-c1b8f9f6 ps11036\">ook equity to total assets must at </span></div><div class=\"ps11040 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">all times be a minimum </span><span class=\"f charStyle-c1b8f9f6 ps11038\">35%</span><span class=\"f charStyle-c1b8f9f6 ps11039\">.</span></div><div class=\"ps11041 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">\u2022<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1762\">Working capital: The working capital shall be higher than </span></div><div class=\"ps11044 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">zero (</span><span class=\"f charStyle-c1b8f9f6 ps11042\">0</span><span class=\"f charStyle-c1b8f9f6 ps11043\">).</span></div><div class=\"ps11045 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">\u2022<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1762\">Minimum security value (loan-to-value for individual debt </span></div><div class=\"ps11046 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">facilities).</span></div><div class=\"ps11048 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\"> Additional items included in Green Corporate Facility</span></div><div class=\"ps11049 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2386\">\u2022<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps2387\">If, in any reported quarter, the aggregated loan balance </span></div><div class=\"ps11052 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2387\">exceeds </span><span class=\"f charStyle-c1b8f9f6 ps11050\">80%</span><span class=\"f charStyle-c1b8f9f6 ps11051\"> of the forward-looking expected cash </span></div><div class=\"ps11053 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2387\">revenues from legally binding contracts (the Contracted </span></div><div class=\"ps11054 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2387\">Cash Flows), the Borrower shall prepay the excess amount </span></div><div class=\"ps11055 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2387\">of the loans within five business days.</span></div><div class=\"ps11056 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">Additional items included in Holdco Facility </span></div><div class=\"ps11057 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2386\">\u2022<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps2387\">The Group is subject to a debt service coverage ratio where </span></div><div class=\"ps11058 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2387\">cash flow available for debt service (including available </span></div><div class=\"ps11059 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2387\">liquidity comprising cash, cash equivalents and undrawn </span></div><div class=\"ps11060 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2387\">Green Corporate Facility) at the Parent Company must be at </span></div><div class=\"ps11061 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2387\">leaast two times the debt service cash flow relating to the </span></div><div class=\"ps11062 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2387\">Holdco Facility (2:1). </span></div><div class=\"ps11064 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">Additional items included in M-Class Facility I &amp; II </span></div><div class=\"ps11065 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2386\">\u2022<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps2387\">The Group is required to maintain a specified number of </span></div><div class=\"ps11066 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2387\">employees in Denmark.</span></div><div class=\"ps11048 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">All covenants are tested semi-annually, at 30 June and 31 December. </span></div><div class=\"ps11049 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">The Group is in compliance with all covenants. </span></div><div class=\"ps11069 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">As of the reporting date, M-class Facilities I and II remain unutilised. </span></div><div class=\"ps11070 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Due to the non-utilisation of these facilities, no assessment of </span></div><div class=\"ps11071 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">compliance with associated covenants has been required to date. </span></div><div class=\"ps11072 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">These covenants, once applicable, will require assessment upon </span></div><div class=\"ps11073 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">utilisation of the facilities and include customary financial and other </span></div><div class=\"ps11074 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">covenants, including certain change of control provisions, similar to </span></div><div class=\"ps11075 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">those disclosed for the utilised facilities. </span></div><div class=\"ps11076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">In addition, the Group is in compliance with the following </span></div><div class=\"ps4890 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">requirements:</span></div><div class=\"ps11077 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Restriction on dividends: The Company is not permitted to pay any </span></div><div class=\"ps11078 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">dividends or other distributions without lender\u2019s written consent. </span></div><div class=\"ps11079 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Across the Group\u2019s Debt Facilities, dividends and distributions must </span></div><div class=\"ps11082 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">not exceed </span><span class=\"f charStyle-c1b8f9f6 ps11080\">50%</span><span class=\"f charStyle-c1b8f9f6 ps11081\"> of the consolidated net profit for the respective year </span></div><div class=\"ps11083 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">and the net interest bearing debt to EBITDA ratio should not be lower </span></div><div class=\"ps11086 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">than </span><span class=\"f charStyle-c1b8f9f6 ps11084\">2.75</span><span class=\"f charStyle-c1b8f9f6 ps11085\">:1. Furthermore, under the Holdco Facility, the Company is </span></div><div class=\"ps11087 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">not permitted to make any distributions prior to the delivery of the P-</span></div><div class=\"ps11088 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Class, the first two A-Class and M-Class vessels. </span></div><div class=\"ps11089 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Change of control: If any person or group of persons (other than </span></div><div class=\"ps11090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Swire Pacific, Scorpio Group or the BW Group) acting in concert </span></div><div class=\"ps11091 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">directly or indirectly gains control of 25% or more of the voting and/</span></div><div class=\"ps11092 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">or ordinary shares of the Borrower, the Agent (acting on the </span></div><div class=\"ps11095 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">instructions of the majority lenders) may, by written notice of </span><span class=\"f charStyle-c1b8f9f6 ps11093\">60</span><span class=\"f charStyle-c1b8f9f6 ps11094\"> days </span></div><div class=\"ps11096 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">cancel the total commitments and demand prepayment of all </span></div><div class=\"ps11097 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">amounts outstanding under the facilities.</span></div><div class=\"ps11100 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies<span id=\"ia724b79896824364bb1ed0a2821fa1af\"></span></span></div><div class=\"ps7078 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Debt to credit institutions etc. is recognised at the time of borrowing </span></div><div class=\"ps7079 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">at fair value after deduction of directly attributable transaction costs. </span></div><div class=\"ps7080 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Subsequently, the financial liabilities are measured at amortised cost </span></div><div class=\"ps7081 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">using the \"effective interest method\", whereby the difference </span></div><div class=\"ps7082 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">between the proceeds and the nominal value is recognised in the </span></div><div class=\"ps293 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">statement of profit and loss under financial expenses over the loan </span></div><div class=\"ps294 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">period. </span></div><div class=\"ps7083 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">A financial liability is derecognised when the obligation under the </span></div><div class=\"ps7084 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">liability is discharged, cancelled or expires.</span></div><div class=\"ps11101 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">When an existing financial liability is replaced by another from the </span></div><div class=\"ps11102 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">same lender on substantially different terms, or when the terms of an </span></div><div class=\"ps7023 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">existing liability are substantially modified, such an exchange or </span></div><div class=\"ps7024 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">modification is treated as the derecognition of the original liability </span></div><div class=\"ps7025 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">and the recognition of a new liability.</span></div><div class=\"ps11103 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The difference in the respective carrying amounts of the original and </span></div><div class=\"ps11104 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the new financial liability is recognised in the statement of profit and </span></div><div class=\"ps7026 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">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-572": {
   "value": "<div class=\"ps9787 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies<span id=\"id45d7b41ad8e457a85cd27d16fcb0747\"></span></span></div><div class=\"ps9788 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Financial assets<span id=\"i84d16ac46774406bb2607018955ce9e3\"></span></span></div><div class=\"ps9789 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The classification of financial assets depends on the Group\u2019s business model for managing the financial </span></div><div class=\"ps9790 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">assets as well as the contractual terms of the cash flows of the respective financial assets.</span></div><div class=\"ps3391 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">(1)<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1762\">At initial recognition: the Group measures a financial asset at fair value, plus, in the case of a </span></div><div class=\"ps3393 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">financial asset not measured at fair value through profit or loss, transaction costs that are directly </span></div><div class=\"ps3394 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">attributable to the acquisition of the financial assets. Transaction costs of financial assets carried at </span></div><div class=\"ps3395 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">fair value through profit or loss are recognised as an expense in profit or loss.</span></div><div class=\"ps2689 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">(1i)<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1762\">At subsequent measurement: the Group\u2019s financial assets mainly comprise cash and bank balances, </span></div><div class=\"ps2690 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">trade receivables and other current assets.</span></div><div class=\"ps9647 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Interest income from these financial assets is recognised using the effective interest rate method.</span></div><div class=\"ps2366 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group assesses on a forward-looking basis the expected credit losses associated with its financial assets </span></div><div class=\"ps2367 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">carried at amortised cost. For trade and other receivables, the Group applied the simplified approach </span></div><div class=\"ps2368 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">permitted by IFRS 9, which requires lifetime expected losses to be recognised from initial recognition of the </span></div><div class=\"ps2369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">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-575": {
   "value": "<div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 17</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Prepayments and other non-current assets<span id=\"i6641be902cd8446ab2d3b35b94f740f3\"></span></span></div><div class=\"ps7684 ss0\"><div class=\"ss238 ws0 ps67\"><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=\"ps37 ss722\"><div><div class=\"ps747 ss721\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9877 ss724\"><div><div class=\"ps41 ss723\"><span class=\"f charStyle-281247bf ps9876\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9878 ss724\"><div><div class=\"ps41 ss723\"><span class=\"f charStyle-054ead99 ps9876\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9879 ss724\"><div><div class=\"ps41 ss723\"><span class=\"f charStyle-054ead99 ps9876\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps43 ss722\"><div><div class=\"ps41 ss721\"><span class=\"f charStyle-1bac868e ps630\">Prepayments (Current)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9881 ss724\"><div><div class=\"ps41 ss723\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:61.92pt\"></span></span><span class=\"ps9880\">13,523</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9882 ss724\"><div><div class=\"ps41 ss723\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:61.92pt\"></span></span><span class=\"ps9880\">16,643</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9884 ss724\"><div><div class=\"ps41 ss723\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:66.77pt\"></span></span><span class=\"ps9883\">9,562</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps3495 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Prepayments include deferred costs like bank loan fees, commitment fees of uncommitted facilities, annual </span></div><div class=\"ps9885 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">insurance premiums and annual software subscriptions.</span></div><div class=\"ps9887 ss0\"><div class=\"ss238 ws0 ps67\"><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=\"ps37 ss722\"><div><div class=\"ps747 ss721\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9877 ss724\"><div><div class=\"ps41 ss723\"><span class=\"f charStyle-281247bf ps9876\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9878 ss724\"><div><div class=\"ps41 ss723\"><span class=\"f charStyle-054ead99 ps9876\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9879 ss724\"><div><div class=\"ps41 ss723\"><span class=\"f charStyle-054ead99 ps9876\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps43 ss722\"><div><div class=\"ps41 ss721\"><span class=\"f charStyle-1bac868e ps630\">Other non-current assets<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9881 ss724\"><div><div class=\"ps41 ss723\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:61.92pt\"></span></span><span class=\"ps9880\">54,069</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9882 ss724\"><div><div class=\"ps41 ss723\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:66.77pt\"></span></span><span class=\"ps9883\">7,211</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9884 ss724\"><div><div class=\"ps41 ss723\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:79.12pt\"></span></span><span class=\"ps9886\">\u2014</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps3295 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Other non-current assets include EUR </span><span class=\"f charStyle-c1b8f9f6 ps9888\">20</span><span class=\"f charStyle-c1b8f9f6 ps9889\"> million primarily relating to certain prepayments.</span></div><div class=\"ps9893 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Cash deposits subject to restrictions, of </span><span class=\"f charStyle-c1b8f9f6 ps9890\">34.1</span><span class=\"f charStyle-c1b8f9f6 ps8179\"> million as at 31 December 2025 (2024: </span><span class=\"f charStyle-c1b8f9f6 ps9891\">7.2</span><span class=\"f charStyle-c1b8f9f6 ps9892\"> million) are included </span></div><div class=\"ps9894 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">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=\"ps9896 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 18</span></div><div class=\"ps9897 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Cash and Cash Equivalents<span id=\"i07dfc656d4544d9a926d4c136c0aae0f\"></span></span></div><div class=\"ps9904 ss0\"><div class=\"ss238 ws0 ps67\"><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=\"ps37 ss725\"><div><div class=\"ps6200 ss721\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9877 ss726\"><div><div class=\"ps4288 ss723\"><span class=\"f charStyle-281247bf ps9898\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9878 ss726\"><div><div class=\"ps4288 ss723\"><span class=\"f charStyle-054ead99 ps9898\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9879 ss726\"><div><div class=\"ps4288 ss723\"><span class=\"f charStyle-054ead99 ps9898\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4293 ss722\"><div><div class=\"ps41 ss721\"><span class=\"f charStyle-1bac868e ps630\">Cash at bank and on hand<span class=\"f ps40\"> </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=\"ps9900 ss724\"><div><div class=\"ps41 ss723\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:57.42pt\"></span></span><span class=\"ps9899\">151,679</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9902 ss724\"><div><div class=\"ps41 ss723\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:62.27pt\"></span></span><span class=\"ps9901\">51,253</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9903 ss724\"><div><div class=\"ps41 ss723\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:62.27pt\"></span></span><span class=\"ps9901\">96,608</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps9907 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Company held cash as of </span><span class=\"f charStyle-c1b8f9f6 ps9905\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps9906\"> with the intention of paying assets under construction-</span></div><div class=\"ps4983 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">related instalments in </span><span class=\"f charStyle-c1b8f9f6 ps9908\">2026</span><span class=\"f charStyle-c1b8f9f6 ps9909\">.</span></div><div class=\"ps9910 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies <span id=\"i77381d018b0949e7983fba488dc3e9f9\"></span></span></div><div class=\"ps4905 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Cash and cash equivalents consist of cash net of short-term bank overdrafts, as these are considered an </span></div><div class=\"ps4906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">integral part of the Group\u2019s cash management. Cash and cash equivalents are me</span><span class=\"f charStyle-c1b8f9f6 ps9911\">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=\"ps9910 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies <span id=\"i77381d018b0949e7983fba488dc3e9f9\"></span></span></div><div class=\"ps4905 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Cash and cash equivalents consist of cash net of short-term bank overdrafts, as these are considered an </span></div><div class=\"ps4906 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">integral part of the Group\u2019s cash management. Cash and cash equivalents are me</span><span class=\"f charStyle-c1b8f9f6 ps9911\">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 ps183\">Note 19</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Statement of Cash Flows Specifications<span id=\"i263bcf97ee1245eea8e1f01be936ffd4\"></span></span></div><div class=\"ps7684 ss0\"><div class=\"ss532 ws0 ps67\"><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=\"ps37 ss519\"><div><div class=\"ps6200 ss425\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5510 ss531\"><div><div class=\"ps4288 ss336\"><span class=\"f charStyle-054ead99 ps6311\">Note<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6313 ss531\"><div><div class=\"ps4288 ss336\"><span class=\"f charStyle-281247bf ps6312\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6314 ss531\"><div><div class=\"ps4288 ss336\"><span class=\"f charStyle-054ead99 ps6312\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6315 ss531\"><div><div class=\"ps4288 ss336\"><span class=\"f charStyle-054ead99 ps6312\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4293 ss529\"><div><div class=\"ps2702 ss425\"><span class=\"f charStyle-b07b4361 ps39\">Adjustments of non-cash items<span class=\"f ps40\"> </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=\"ps5195 ss529\"><div><div class=\"ps2702 ss425\"><span class=\"f charStyle-1bac868e ps630\">Depreciation and amortisation<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9928 ss471\"><div><div class=\"ps5193 ss336\"><span class=\"f charStyle-e5ec5c44 ps7688\">\u00a012\u00a0,\u00a013\u00a0,\u00a014<span class=\"f ps40\"> </span></span></div><div class=\"ps5194 ss336\"><span class=\"f charStyle-e5ec5c44 ps7690\">\u00a0</span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9929 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.17pt\"></span></span><span class=\"ps6353\">107,520</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9930 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6317\">56,595</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9931 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6317\">23,048</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5204 ss529\"><div><div class=\"ps2702 ss425\"><span class=\"f charStyle-1bac868e ps630\">Impairment of fixed assets<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9933 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44 ps9932\">13<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9934 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6343\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9935 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6343\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9936 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">5,000</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5211 ss529\"><div><div class=\"ps5193 ss425\"><span class=\"f charStyle-1bac868e ps630\">Non-cash disposals of property, plant and <span class=\"f ps40\"> </span></span></div><div class=\"ps5194 ss425\"><span class=\"f charStyle-1bac868e ps630\">equipment and intangible assets</span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9937 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44 ps6334\">\u00a012\u00a0,\u00a013\u00a0<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9938 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.37pt\"></span></span><span class=\"ps7736\">1</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9939 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6328\">183</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9940 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6343\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5220 ss529\"><div><div class=\"ps2702 ss425\"><span class=\"f charStyle-1bac868e ps630\">Other operating income and expenses, net<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9941 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44 ps7696\">5<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9942 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6343\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9943 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6343\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9944 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.25pt\"></span></span><span class=\"ps7758\">(137)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5686 ss529\"><div><div class=\"ps2702 ss425\"><span class=\"f charStyle-1bac868e ps630\">Finance income<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9945 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44 ps7696\">9<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9946 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:20.45pt\"></span></span><span class=\"ps7547\">(1,714)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9947 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:20.45pt\"></span></span><span class=\"ps7547\">(3,294)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9948 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6343\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps6305 ss529\"><div><div class=\"ps2702 ss425\"><span class=\"f charStyle-1bac868e ps630\">Interest expenses<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9949 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44 ps7696\">9<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9950 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6317\">15,993</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9951 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6328\">428</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7822 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">1,898</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps6306 ss529\"><div><div class=\"ps2702 ss425\"><span class=\"f charStyle-1bac868e ps630\">Finance costs<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9952 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44 ps7696\">9<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9953 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.25pt\"></span></span><span class=\"ps7758\">(725)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9954 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">2,589</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9955 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6343\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps9956 ss529\"><div><div class=\"ps2702 ss425\"><span class=\"f charStyle-1bac868e ps630\">Income tax expense<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9957 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">7,680</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9958 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">2,401</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9959 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6343\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps9960 ss529\"><div><div class=\"ps5193 ss425\"><span class=\"f charStyle-1bac868e ps630\">Fair value change of derivative instruments <span class=\"f ps40\"> </span></span></div><div class=\"ps5194 ss425\"><span class=\"f charStyle-1bac868e ps630\">through profit or loss</span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9961 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44 ps7696\">9<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9962 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6328\">630</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9963 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.25pt\"></span></span><span class=\"ps7758\">(427)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9964 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6328\">766</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps7503 ss529\"><div><div class=\"ps2702 ss425\"><span class=\"f charStyle-1bac868e ps630\">Items recycled<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9965 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44 ps9932\">25<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9966 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6328\">947</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9967 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6343\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9968 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6343\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps9969 ss529\"><div><div class=\"ps2702 ss425\"><span class=\"f charStyle-1bac868e ps630\">Share-based payment expenses<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9970 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">2,071</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9971 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">1,662</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9972 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">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=\"ps9973 ss529\"><div><div class=\"ps2702 ss425\"><span class=\"f charStyle-b07b4361 ps39\">Total adjustments of non-cash items<span class=\"f ps40\"> </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=\"ps9974 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.77pt\"></span></span><span class=\"ps6379\">132,403</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9975 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7402\">60,137</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9976 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7402\">31,709</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7684 ss0\"><div class=\"ss532 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=\"ps37 ss519\"><div><div class=\"ps4288 ss425\"><span class=\"f charStyle-b07b4361 ps39\">Changes in working capital<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5510 ss531\"><div><div class=\"ps4288 ss336\"><span class=\"f charStyle-054ead99 ps6311\">Note<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#225f78;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6313 ss531\"><div><div class=\"ps4288 ss336\"><span class=\"f charStyle-281247bf ps6312\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6314 ss531\"><div><div class=\"ps4288 ss336\"><span class=\"f charStyle-054ead99 ps6312\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6315 ss531\"><div><div class=\"ps4288 ss336\"><span class=\"f charStyle-054ead99 ps6312\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4293 ss529\"><div><div class=\"ps2702 ss425\"><span class=\"f charStyle-1bac868e ps630\">Inventories<span class=\"f ps40\"> </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=\"ps6318 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:20.45pt\"></span></span><span class=\"ps7547\">(2,501)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps6319 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6328\">788</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps6320 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:20.45pt\"></span></span><span class=\"ps7547\">(1,140)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5195 ss529\"><div><div class=\"ps5193 ss425\"><span class=\"f charStyle-1bac868e ps630\">Trade receivables, contract assets, <span class=\"f ps40\"> </span></span></div><div class=\"ps5194 ss425\"><span class=\"f charStyle-1bac868e ps630\">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=\"ps9929 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:10.75pt\"></span></span><span class=\"ps9977\">(133,704)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9930 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.6pt\"></span></span><span class=\"ps7544\">(62,706)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9931 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6317\">28,541</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5204 ss529\"><div><div class=\"ps2702 ss425\"><span class=\"f charStyle-1bac868e ps630\">Trade and other payables<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#225f78;padding:0\"><div class=\"ps9934 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">8,126</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9935 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6328\">380</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9936 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.6pt\"></span></span><span class=\"ps7544\">(16,087)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5211 ss529\"><div><div class=\"ps2702 ss425\"><span class=\"f charStyle-1bac868e ps630\">Provisions<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#225f78;padding:0\"><div class=\"ps9938 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.25pt\"></span></span><span class=\"ps7758\">(841)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9939 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:20.45pt\"></span></span><span class=\"ps7547\">(6,059)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9940 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6343\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5220 ss529\"><div><div class=\"ps2702 ss425\"><span class=\"f charStyle-1bac868e ps630\">Receivables from related parties<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#225f78;padding:0\"><div class=\"ps9942 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6343\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9943 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.67pt\"></span></span><span class=\"ps6328\">414</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9944 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.22pt\"></span></span><span class=\"ps6343\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5686 ss529\"><div><div class=\"ps2702 ss425\"><span class=\"f charStyle-1bac868e ps630\">Payables to related parties<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#225f78;padding:0\"><div class=\"ps9946 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.52pt\"></span></span><span class=\"ps6373\">49</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9947 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.52pt\"></span></span><span class=\"ps6373\">51</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9948 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.52pt\"></span></span><span class=\"ps6373\">73</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps6305 ss529\"><div><div class=\"ps2702 ss425\"><span class=\"f charStyle-1bac868e ps630\">Deferred revenue<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#ecedef;padding:0\"></td><td style=\"background-color:#225f78;padding:0\"><div class=\"ps9950 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.17pt\"></span></span><span class=\"ps6353\">112,280</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9951 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.02pt\"></span></span><span class=\"ps6317\">33,482</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7822 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.87pt\"></span></span><span class=\"ps6330\">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=\"ps6306 ss529\"><div><div class=\"ps2702 ss425\"><span class=\"f charStyle-b07b4361 ps39\">Net change in working capital<span class=\"f ps40\"> </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=\"ps9953 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:12.3pt\"></span></span><span class=\"ps9978\">(16,591)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9954 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:12.3pt\"></span></span><span class=\"ps9978\">(33,650)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9955 ss471\"><div><div class=\"ps2702 ss336\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.94pt\"></span></span><span class=\"ps7402\">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 ps183\">Note 20</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Provisions, Trade and Other Payables<span id=\"ib2f2e6c88b024669a77c303002a856ac\"></span></span></div><div class=\"ps7684 ss0\"><div class=\"ss728 ws0 ps67\"><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=\"ps37 ss608\"><div><div class=\"ps7618 ss317\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7620 ss727\"><div><div class=\"ps435 ss505\"><span class=\"f charStyle-281247bf ps9985\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9986 ss727\"><div><div class=\"ps435 ss505\"><span class=\"f charStyle-054ead99 ps9985\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9987 ss727\"><div><div class=\"ps435 ss505\"><span class=\"f charStyle-054ead99 ps9985\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps439 ss608\"><div><div class=\"ps435 ss317\"><span class=\"f charStyle-b07b4361 ps39\">Trade and other payables:<span class=\"f ps40\"> </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=\"ps460 ss608\"><div><div class=\"ps435 ss317\"><span class=\"f charStyle-1bac868e ps630\">Trade payables<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9989 ss727\"><div><div class=\"ps435 ss505\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.77pt\"></span></span><span class=\"ps9988\">22,388</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9990 ss727\"><div><div class=\"ps435 ss505\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.77pt\"></span></span><span class=\"ps9988\">11,577</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9991 ss727\"><div><div class=\"ps435 ss505\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.62pt\"></span></span><span class=\"ps2042\">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=\"ps5518 ss608\"><div><div class=\"ps435 ss317\"><span class=\"f charStyle-1bac868e ps630\">Other payables<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9992 ss727\"><div><div class=\"ps435 ss505\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.77pt\"></span></span><span class=\"ps9988\">75,820</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9993 ss727\"><div><div class=\"ps435 ss505\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.77pt\"></span></span><span class=\"ps9988\">32,018</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9994 ss727\"><div><div class=\"ps435 ss505\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.77pt\"></span></span><span class=\"ps9988\">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=\"ps5527 ss608\"><div><div class=\"ps435 ss317\"><span class=\"f charStyle-b07b4361 ps39\">Total trade and other payables<span class=\"f ps40\"> </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=\"ps9996 ss727\"><div><div class=\"ps435 ss505\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31.69pt\"></span></span><span class=\"ps9995\">98,208</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9997 ss727\"><div><div class=\"ps435 ss505\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31.69pt\"></span></span><span class=\"ps9995\">43,595</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps9998 ss727\"><div><div class=\"ps435 ss505\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31.69pt\"></span></span><span class=\"ps9995\">32,636</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps9999 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The increase in other payables is attributable to year-end activity and the timing of payment processing.</span></div><div class=\"ps10026 ss0\"><div class=\"ss728 ws0 ps67\"><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=\"ps37 ss608\"><div><div class=\"ps7618 ss317\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7620 ss727\"><div><div class=\"ps435 ss505\"><span class=\"f charStyle-281247bf ps9985\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9986 ss727\"><div><div class=\"ps435 ss505\"><span class=\"f charStyle-054ead99 ps9985\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9987 ss727\"><div><div class=\"ps435 ss505\"><span class=\"f charStyle-054ead99 ps9985\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps439 ss608\"><div><div class=\"ps435 ss317\"><span class=\"f charStyle-b07b4361 ps39\">Provisions at 1 January:<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10001 ss727\"><div><div class=\"ps435 ss505\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:45.42pt\"></span></span><span class=\"ps10000\">841</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10002 ss727\"><div><div class=\"ps435 ss505\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.62pt\"></span></span><span class=\"ps2042\">6,899</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10004 ss727\"><div><div class=\"ps435 ss505\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.97pt\"></span></span><span class=\"ps10003\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps460 ss608\"><div><div class=\"ps435 ss317\"><span class=\"f charStyle-1bac868e ps630\">Acquisition of businesses<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9989 ss727\"><div><div class=\"ps435 ss505\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.97pt\"></span></span><span class=\"ps10003\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9990 ss727\"><div><div class=\"ps435 ss505\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.97pt\"></span></span><span class=\"ps10003\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9991 ss727\"><div><div class=\"ps435 ss505\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.62pt\"></span></span><span class=\"ps2042\">6,987</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5518 ss608\"><div><div class=\"ps435 ss317\"><span class=\"f charStyle-1bac868e ps630\">Additions during the year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9992 ss727\"><div><div class=\"ps435 ss505\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.97pt\"></span></span><span class=\"ps10003\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9993 ss727\"><div><div class=\"ps435 ss505\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.97pt\"></span></span><span class=\"ps10003\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9994 ss727\"><div><div class=\"ps435 ss505\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.97pt\"></span></span><span class=\"ps10003\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5527 ss608\"><div><div class=\"ps435 ss317\"><span class=\"f charStyle-1bac868e ps630\">Utilised during the year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps9996 ss727\"><div><div class=\"ps435 ss505\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40pt\"></span></span><span class=\"ps10005\">(421)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9997 ss727\"><div><div class=\"ps435 ss505\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.2pt\"></span></span><span class=\"ps10006\">(4,570)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9998 ss727\"><div><div class=\"ps435 ss505\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.97pt\"></span></span><span class=\"ps10003\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5532 ss608\"><div><div class=\"ps435 ss317\"><span class=\"f charStyle-1bac868e ps630\">Reversed during the year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10007 ss727\"><div><div class=\"ps435 ss505\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40pt\"></span></span><span class=\"ps10005\">(420)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10008 ss727\"><div><div class=\"ps435 ss505\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.2pt\"></span></span><span class=\"ps10006\">(1,576)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10009 ss727\"><div><div class=\"ps435 ss505\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.97pt\"></span></span><span class=\"ps10003\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5537 ss608\"><div><div class=\"ps435 ss317\"><span class=\"f charStyle-1bac868e ps630\">Exchange differences<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10010 ss727\"><div><div class=\"ps435 ss505\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.97pt\"></span></span><span class=\"ps10003\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10012 ss727\"><div><div class=\"ps435 ss505\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.27pt\"></span></span><span class=\"ps10011\">88</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10014 ss727\"><div><div class=\"ps435 ss505\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.85pt\"></span></span><span class=\"ps10013\">(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=\"ps59 ss608\"><div><div class=\"ps435 ss317\"><span class=\"f charStyle-b07b4361 ps39\">Total provisions at 31 December<span class=\"f ps40\"> </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=\"ps10015 ss727\"><div><div class=\"ps435 ss505\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.97pt\"></span></span><span class=\"ps10003\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10017 ss727\"><div><div class=\"ps435 ss505\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.46pt\"></span></span><span class=\"ps10016\">841</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10019 ss727\"><div><div class=\"ps435 ss505\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.86pt\"></span></span><span class=\"ps10018\">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=\"ps5171 ss608\"><div><div class=\"ps435 ss317\"><span class=\"f charStyle-b07b4361 ps39\">Current<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10020 ss727\"><div><div class=\"ps435 ss505\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.97pt\"></span></span><span class=\"ps10003\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10021 ss727\"><div><div class=\"ps435 ss505\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.46pt\"></span></span><span class=\"ps10016\">841</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10022 ss727\"><div><div class=\"ps435 ss505\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.86pt\"></span></span><span class=\"ps10018\">2,086</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5545 ss608\"><div><div class=\"ps435 ss317\"><span class=\"f charStyle-b07b4361 ps39\">Non-current<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10023 ss727\"><div><div class=\"ps435 ss505\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.97pt\"></span></span><span class=\"ps10003\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10024 ss727\"><div><div class=\"ps435 ss505\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.97pt\"></span></span><span class=\"ps10003\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10025 ss727\"><div><div class=\"ps435 ss505\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.86pt\"></span></span><span class=\"ps10018\">4,813</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps10027 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The provisions relate to an onerous contract and were released in 2025 following the settlement of the </span></div><div class=\"ps10029 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">related obligations. For further information, please refer to </span><span class=\"f charStyle-c1b8f9f6 ps10028\">Note 4.</span></div><div class=\"ps7795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Accounting policies<span id=\"i0e2a59b7f3894ea2994a4e401dde6b73\"></span></span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Trade and other payables represent liabilities for goods and services provided to the Group before the end </span></div><div class=\"ps7161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">of the financial year, that remain unpaid. They are classified as current liabilities if payment is due within one </span></div><div class=\"ps7164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">year or less (within the normal operating cycle of the business, if longer). Otherwise, they are presented as </span></div><div class=\"ps7578 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">non-current liabilities. Trade and other payables are initially recognised at fair value, and subsequently </span></div><div class=\"ps7579 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">carried at amortised cost, using the effective interest method. </span></div><div class=\"ps7118 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">A provision is recognised for certain contracts with customers where the unavoidable costs of meeting the </span></div><div class=\"ps7119 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">performance obligations exceed the economic benefits expected to be received. These costs are expected </span></div><div class=\"ps7165 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">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=\"ps7795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Accounting policies<span id=\"i0e2a59b7f3894ea2994a4e401dde6b73\"></span></span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Trade and other payables represent liabilities for goods and services provided to the Group before the end </span></div><div class=\"ps7161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">of the financial year, that remain unpaid. They are classified as current liabilities if payment is due within one </span></div><div class=\"ps7164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">year or less (within the normal operating cycle of the business, if longer). Otherwise, they are presented as </span></div><div class=\"ps7578 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">non-current liabilities. Trade and other payables are initially recognised at fair value, and subsequently </span></div><div class=\"ps7579 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">carried at amortised cost, using the effective interest method. </span></div><div class=\"ps7118 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">A provision is recognised for certain contracts with customers where the unavoidable costs of meeting the </span></div><div class=\"ps7119 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">performance obligations exceed the economic benefits expected to be received. These costs are expected </span></div><div class=\"ps7165 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">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-581": {
   "value": "<div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 22</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Issued Share Capital<span id=\"i86eed5e387814478a4c5bb5ec1bf3d73\"></span></span></div><div class=\"ps7684 ss0\"><div class=\"ss193 ws0 ps67\"><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=\"ps37 ss729\"><div><div class=\"ps8191 ss181\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10137 ss731\"><div><div class=\"ps5628 ss730\"><span class=\"f charStyle-054ead99 ps10135\">No. of shares (in <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss730\"><span class=\"f charStyle-054ead99 ps10136\">thousands)</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10139 ss731\"><div><div class=\"ps5627 ss730\"><span class=\"f charStyle-281247bf ps10138\">Total<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps1987 ss729\"><div><div class=\"ps2702 ss181\"><span class=\"f charStyle-1bac868e ps630\">Beginning of financial year 2023<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10141 ss731\"><div><div class=\"ps2702 ss730\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:63.42pt\"></span></span><span class=\"ps10140\">197,600</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10143 ss731\"><div><div class=\"ps2702 ss730\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:68.27pt\"></span></span><span class=\"ps10142\">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=\"ps7536 ss729\"><div><div class=\"ps2702 ss181\"><span class=\"f charStyle-1bac868e ps630\">First issue for capital increase 2023<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10144 ss731\"><div><div class=\"ps2702 ss730\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:63.42pt\"></span></span><span class=\"ps10140\">113,809</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10145 ss731\"><div><div class=\"ps2702 ss730\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:68.27pt\"></span></span><span class=\"ps10142\">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=\"ps7540 ss729\"><div><div class=\"ps2702 ss181\"><span class=\"f charStyle-b07b4361 ps39\">End of financial year 2023<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10147 ss731\"><div><div class=\"ps2702 ss730\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:61.02pt\"></span></span><span class=\"ps10146\">311,409</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10149 ss731\"><div><div class=\"ps2702 ss730\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:66.19pt\"></span></span><span class=\"ps10148\">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=\"ps2306 ss729\"><div><div class=\"ps2702 ss181\"><span class=\"f charStyle-1bac868e ps630\">First issue for capital increase 2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10150 ss731\"><div><div class=\"ps2702 ss730\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:68.27pt\"></span></span><span class=\"ps10142\">39,520</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10152 ss731\"><div><div class=\"ps2702 ss730\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:73.12pt\"></span></span><span class=\"ps10151\">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=\"ps492 ss729\"><div><div class=\"ps2702 ss181\"><span class=\"f charStyle-1bac868e ps630\">Second issue for capital increase 2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10154 ss731\"><div><div class=\"ps2702 ss730\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:84.77pt\"></span></span><span class=\"ps10153\">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=\"ps10156 ss731\"><div><div class=\"ps2702 ss730\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:89.62pt\"></span></span><span class=\"ps10155\">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=\"ps1041 ss729\"><div><div class=\"ps2702 ss181\"><span class=\"f charStyle-b07b4361 ps39\">End of financial year 2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10157 ss731\"><div><div class=\"ps2702 ss730\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:61.02pt\"></span></span><span class=\"ps10146\">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=\"ps10158 ss731\"><div><div class=\"ps2702 ss730\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:66.19pt\"></span></span><span class=\"ps10148\">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=\"ps63 ss729\"><div><div class=\"ps2702 ss181\"><span class=\"f charStyle-b07b4361 ps39\">End of financial year 2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10159 ss731\"><div><div class=\"ps2702 ss730\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:61.02pt\"></span></span><span class=\"ps10146\">350,957</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10160 ss731\"><div><div class=\"ps2702 ss730\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:66.19pt\"></span></span><span class=\"ps10148\">47,144</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps5429 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">As of 31 December 2025, the Group had share capital amounting to DKK </span><span class=\"f charStyle-c1b8f9f6 ps10161\">350,958\u00a0thousand</span><span class=\"f charStyle-c1b8f9f6 ps10162\">, eq</span><span class=\"f charStyle-c1b8f9f6 ps10163\">ual to </span><span class=\"f charStyle-c1b8f9f6 ps10164\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10165\"> </span></div><div class=\"ps3617 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">47,144 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10166\">, consisting of </span><span class=\"f charStyle-c1b8f9f6 ps10167\">350,957,583</span><span class=\"f charStyle-c1b8f9f6 ps10168\"> shares of nominal </span><span class=\"f charStyle-c1b8f9f6 ps10169\">DKK1</span><span class=\"f charStyle-c1b8f9f6 ps8064\"> each. </span></div><div class=\"ps10170 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">All shares have equal rights. </span></div><div class=\"ps10187 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Accounting policies<span id=\"i698f23eb0d4f46b3907f168ecb3e0f79\"></span></span></div><div class=\"ps10188 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Ordinary shares are classified as equity. When there is a capital increase through the issuance of new shares, </span></div><div class=\"ps7754 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">these shares are recorded at their nominal value.</span></div><div class=\"ps376 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The s</span><span class=\"f charStyle-c1b8f9f6 ps10189\">hare premium reserve represents capital contributed by investors in excess of the nominal value of the </span></div><div class=\"ps398 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">shares issued, net of any incremental costs directly attributable to the issuance of new shares.</span></div><div class=\"ps378 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Own equity instruments that are reacquired (treasury shares) are recognised at cost and deducted from </span></div><div class=\"ps379 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">equity. No gain or loss is recognised in profit or loss on the purchase, sale, issue or cancellation of the </span></div><div class=\"ps380 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Group\u2019s own equity instruments. Any difference between the carrying amount and the consideration </span></div><div class=\"ps381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">received, upon reissuance, is recognised in equity.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-582": {
   "value": "<div class=\"ps7795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Treasury shares<span id=\"ic734e3b709c44435ba1c624ab153f482\"></span></span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">On 30 May </span><span class=\"f charStyle-c1b8f9f6 ps10172\">2025</span><span class=\"f charStyle-c1b8f9f6 ps10173\">, the Company completed a share buy-back program to fulfil share-based incentive </span></div><div class=\"ps7161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">obligations resulting in the repurchase of </span><span class=\"f charStyle-c1b8f9f6 ps10174\">395,200</span><span class=\"f charStyle-c1b8f9f6 ps10175\"> shares of a nominal price of DKK </span><span class=\"f charStyle-c1b8f9f6 ps10176\">1</span><span class=\"f charStyle-c1b8f9f6 ps10177\"> each at an average </span></div><div class=\"ps7164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">price of NOK </span><span class=\"f charStyle-c1b8f9f6 ps10178\">49.90</span><span class=\"f charStyle-c1b8f9f6 ps10179\">, corresponding to an aggregate amount of </span><span class=\"f charStyle-c1b8f9f6 ps10180\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10181\"> </span><span class=\"f charStyle-c1b8f9f6 ps10182\">1.7\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10183\">, including commission. As of </span></div><div class=\"ps7578 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10184\">, the Company holds </span><span class=\"f charStyle-c1b8f9f6 ps10185\">89,992</span><span class=\"f charStyle-c1b8f9f6 ps10186\"> treasury shares. </span></div><div class=\"ps10187 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Accounting policies<span id=\"i698f23eb0d4f46b3907f168ecb3e0f79\"></span></span></div><div class=\"ps378 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Own equity instruments that are reacquired (treasury shares) are recognised at cost and deducted from </span></div><div class=\"ps379 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">equity. No gain or loss is recognised in profit or loss on the purchase, sale, issue or cancellation of the </span></div><div class=\"ps380 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Group\u2019s own equity instruments. Any difference between the carrying amount and the consideration </span></div><div class=\"ps381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">received, upon reissuance, is recognised in equity.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-583": {
   "value": "<div class=\"ps10187 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Accounting policies<span id=\"i698f23eb0d4f46b3907f168ecb3e0f79\"></span></span></div><div class=\"ps10188 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Ordinary shares are classified as equity. When there is a capital increase through the issuance of new shares, </span></div><div class=\"ps7754 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">these shares are recorded at their nominal value.</span></div><div class=\"ps376 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The s</span><span class=\"f charStyle-c1b8f9f6 ps10189\">hare premium reserve represents capital contributed by investors in excess of the nominal value of the </span></div><div class=\"ps398 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">shares issued, net of any incremental costs directly attributable to the issuance of new shares.</span></div><div class=\"ps378 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Own equity instruments that are reacquired (treasury shares) are recognised at cost and deducted from </span></div><div class=\"ps379 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">equity. No gain or loss is recognised in profit or loss on the purchase, sale, issue or cancellation of the </span></div><div class=\"ps380 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Group\u2019s own equity instruments. Any difference between the carrying amount and the consideration </span></div><div class=\"ps381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">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 class=\"ps10187 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Accounting policies<span id=\"i698f23eb0d4f46b3907f168ecb3e0f79\"></span></span></div><div class=\"ps378 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Own equity instruments that are reacquired (treasury shares) are recognised at cost and deducted from </span></div><div class=\"ps379 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">equity. No gain or loss is recognised in profit or loss on the purchase, sale, issue or cancellation of the </span></div><div class=\"ps380 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Group\u2019s own equity instruments. Any difference between the carrying amount and the consideration </span></div><div class=\"ps381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">received, upon reissuance, is recognised in equity.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTreasurySharesExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-588": {
   "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 ps183\">Note 23 </span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Financial Risk Management<span id=\"i142e22eeb6ee4b569d62063b36a5336c\"></span></span></div><div class=\"ps10190 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Financial risk factors<span id=\"i92fef17d2ba64690b5da89bc24666508\"></span></span></div><div class=\"ps10191 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group\u2019s activities expose it to market risk, including currency risk and interest rate risk, as well as credit </span></div><div class=\"ps10192 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">risk and liquidity risk.</span></div><div class=\"ps7010 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The financial risk management of the Group is performed by the Management of Cadeler and overseen by </span></div><div class=\"ps7011 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the Board of Directors and Audit Committee. The fair value of the Group's financial assets and liabilities as of </span></div><div class=\"ps3194 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps8029\"> does not deviate materially from the carrying amounts as of </span><span class=\"f charStyle-c1b8f9f6 ps10193\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10194\">.</span></div><div class=\"ps7048 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-1819d385 ps183\">Quantitative and qualitative disclosures about market risk<span id=\"iea4977ea99a24a699f8a60be68581ddb\"></span></span></div><div class=\"ps10195 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Currency risk<span id=\"i172af3f680244f5d8fd11575933bbbc8\"></span></span></div><div class=\"ps10196 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group\u2019s business is exposed to the Danish Kroner (\u201cDKK\u201d), Norwegian Kroner (\u201cNOK\u201d), British Pound </span></div><div class=\"ps10197 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Sterling (\u201cGBP\u201d), United States Dollar (\u201cUSD\u201d), New Taiwan Dollar (\u201cTWD\u201d), and Japanese Yen (\u201cJPY\u201d), as </span></div><div class=\"ps10198 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">certain operating expenses are denominated in these currencies. The Company seeks to use financial </span></div><div class=\"ps7053 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">instruments to reduce currency risk when there is significant exposure to income or liabilities denominated </span></div><div class=\"ps7054 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">in currencies other than EUR or DKK, and where a cost-effective solution is available.</span></div><div class=\"ps10201 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-296ed202 ps183\">The functional currency of Cadeler A/S is </span><span class=\"f charStyle-296ed202 ps10199\">EUR</span><span class=\"f charStyle-296ed202 ps10200\">, while the largest currency exposure of the Group relates to </span></div><div class=\"ps10205 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-296ed202 ps183\">future instalments for newbuild vessels, denominated in USD, amounting to </span><span class=\"f charStyle-296ed202 ps10202\">USD </span><span class=\"f charStyle-296ed202 ps10203\">496\u00a0million</span><span class=\"f charStyle-296ed202 ps10204\">. Further details </span></div><div class=\"ps10206 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-296ed202 ps183\">regarding the instruments currently used to mitigate this currency risk are provided in Note 24. Management </span></div><div class=\"ps10207 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-296ed202 ps183\">and the Board of Directors evaluate the potential costs and benefits of currency exposure on an ongoing basis.</span></div><div class=\"ps10211 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">T</span><span class=\"f charStyle-c1b8f9f6 ps8964\">he Group holds cash balances in USD. If the USD:</span><span class=\"f charStyle-c1b8f9f6 ps1124\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10208\"> exchange rate were to deteriorate by </span><span class=\"f charStyle-c1b8f9f6 ps10209\">10%</span><span class=\"f charStyle-c1b8f9f6 ps10210\"> the result </span></div><div class=\"ps10227 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">before tax would have decreased by </span><span class=\"f charStyle-c1b8f9f6 ps10212\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10213\"> </span><span class=\"f charStyle-c1b8f9f6 ps10214\">1.6</span><span class=\"f charStyle-c1b8f9f6 ps10215\"> million (</span><span class=\"f charStyle-c1b8f9f6 ps10216\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7352\">: </span><span class=\"f charStyle-c1b8f9f6 ps10217\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10218\"> </span><span class=\"f charStyle-c1b8f9f6 ps10219\">1.8\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10220\">; </span><span class=\"f charStyle-c1b8f9f6 ps10221\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10222\">: </span><span class=\"f charStyle-c1b8f9f6 ps10223\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10224\"> </span><span class=\"f charStyle-c1b8f9f6 ps10225\">4.6\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10226\">), based on </span></div><div class=\"ps3208 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">USD cash holdings as of </span><span class=\"f charStyle-c1b8f9f6 ps10228\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10229\">.</span></div><div class=\"ps3281 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group holds cash balances in GBP. If the GBP:</span><span class=\"f charStyle-c1b8f9f6 ps10230\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10231\"> exchange rate were to deteriorate by </span><span class=\"f charStyle-c1b8f9f6 ps10232\">10%</span><span class=\"f charStyle-c1b8f9f6 ps10233\"> the result </span></div><div class=\"ps3282 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">before tax would have decreased by </span><span class=\"f charStyle-c1b8f9f6 ps10212\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10213\"> </span><span class=\"f charStyle-c1b8f9f6 ps10214\">0.4</span><span class=\"f charStyle-c1b8f9f6 ps10234\"> </span><span class=\"f charStyle-c1b8f9f6 ps10235\">million (</span><span class=\"f charStyle-c1b8f9f6 ps10236\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10237\">: </span><span class=\"f charStyle-c1b8f9f6 ps10238\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10239\"> </span><span class=\"f charStyle-c1b8f9f6 ps10240\">0.7\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10241\">) based on GBP cash holdings as </span></div><div class=\"ps3283 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">of </span><span class=\"f charStyle-c1b8f9f6 ps10242\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10243\">.</span></div><div class=\"ps2697 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-616c3f6a ps183\">As the DKK is pegged to the </span><span class=\"f charStyle-616c3f6a ps10244\">EUR</span><span class=\"f charStyle-616c3f6a ps10245\">, no material currency risk has been identified in relation to the DKK, despite the </span></div><div class=\"ps2698 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-616c3f6a ps183\">Cadeler Group incurring costs denominated in DKK. As of </span><span class=\"f charStyle-616c3f6a ps10246\">31\u00a0December 2025</span><span class=\"f charStyle-616c3f6a ps10247\">, the Cadeler Group did not hold any </span></div><div class=\"ps2699 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-616c3f6a ps183\">material cash balances denominated in NOK, JPY, or TWD.</span></div><div class=\"ps10248 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Currency risk associated with other financial instruments denominated in foriegn currencies is limited and </span></div><div class=\"ps10249 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">therefore excluded from this analysis. </span></div><div class=\"ps10190 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Interest rate risk<span id=\"i4a97714972f94b6d96c9ce5a4f4eb971\"></span></span></div><div class=\"ps10191 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The Group\u2019s current exposure to the risk of changes in market interest rates relates primarily to the Green </span></div><div class=\"ps10192 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Corporate Facility, the P-class Facility, M-class Facility and Holdco Facility. Further details regarding the </span></div><div class=\"ps7752 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">hedging instruments used to mitigate this risk are provided in Note 24.</span></div><div class=\"ps7011 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The Green Corporate Facility and Holdco Facility are based on a EURIBOR 3M interest rate plus a margin. </span></div><div class=\"ps3194 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The EURIBOR interest rate has a floor of </span><span class=\"f charStyle-c1b8f9f6 ps10250\">0</span><span class=\"f charStyle-c1b8f9f6 ps10251\">bps and was </span><span class=\"f charStyle-c1b8f9f6 ps10252\">2.1%</span><span class=\"f charStyle-c1b8f9f6 ps10253\">, </span><span class=\"f charStyle-c1b8f9f6 ps10254\">2.9%</span><span class=\"f charStyle-c1b8f9f6 ps10255\"> and </span><span class=\"f charStyle-c1b8f9f6 ps10256\">3.9%</span><span class=\"f charStyle-c1b8f9f6 ps10257\"> at the end of </span><span class=\"f charStyle-c1b8f9f6 ps10258\">2025</span><span class=\"f charStyle-c1b8f9f6 ps10259\">, </span><span class=\"f charStyle-c1b8f9f6 ps10260\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10261\"> and </span></div><div class=\"ps7012 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10262\">, respectively. </span></div><div class=\"ps7754 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">If the EURIBOR interest rate increased </span><span class=\"f charStyle-c1b8f9f6 ps10263\">100bps</span><span class=\"f charStyle-c1b8f9f6 ps10264\">, and the loans had been provided throughout the entire </span><span class=\"f charStyle-c1b8f9f6 ps10265\">2025</span><span class=\"f charStyle-c1b8f9f6 ps10266\"> </span></div><div class=\"ps7755 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">reporting period, interest costs would have increased by </span><span class=\"f charStyle-c1b8f9f6 ps10267\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10268\"> </span><span class=\"f charStyle-c1b8f9f6 ps10269\">15.6 million</span><span class=\"f charStyle-c1b8f9f6 ps10270\"> (</span><span class=\"f charStyle-c1b8f9f6 ps10271\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10272\">: </span><span class=\"f charStyle-c1b8f9f6 ps10273\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10274\"> </span><span class=\"f charStyle-c1b8f9f6 ps10275\">5.9\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10276\">; </span><span class=\"f charStyle-c1b8f9f6 ps10277\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10278\">: </span><span class=\"f charStyle-c1b8f9f6 ps10279\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10280\"> </span></div><div class=\"ps10282 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">2.1\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10281\">). Such an increase could potentially qualify as capitalisable borrowing costs, thereby mitigating </span></div><div class=\"ps7016 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">the impact on the result before tax. Conversely, if the interest rates were to decrease, the result before tax </span></div><div class=\"ps7017 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">would not be materially affected due to the capitalisation of borrowing costs.</span></div><div class=\"ps10283 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Management and the Board of Directors evaluate the potential costs and benefits of fixed interest rate </span></div><div class=\"ps10285 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">borrowing</span><span class=\"f charStyle-c1b8f9f6 ps10284\">s on an ongoing basis.</span></div></div><div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 23</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Financial Risk Management<span id=\"i1e193def17d24193b9e84315bb689546\"></span></span></div><div class=\"ps6975 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-cd31f1a5 ps183\">Continued from previous page</span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Credit risk<span id=\"if679800039c74b1ea6ede098b4004e4b\"></span></span></div><div class=\"ps8676 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Risk management<span id=\"ic761a30e8a4046648de8eb72c1862126\"></span></span></div><div class=\"ps8677 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in </span></div><div class=\"ps8678 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">financial loss to the Group. The Group adopts the following policies to mitigate credit risk.</span></div><div class=\"ps10286 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">For banks and financial institutions, the Group mitigates its credit risks by transacting only with </span></div><div class=\"ps10287 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">counterparties rated \u201cA\u201d or above by independent rating agencies.</span></div><div class=\"ps3362 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group adopts a policy of dealing only with customers with an appropriate credit history and obtaining </span></div><div class=\"ps3363 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">sufficient security where appropriate, to mitigate credit risk. The Group applies stringent procedures for </span></div><div class=\"ps3364 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">extending credit terms to customers and for the ongoing monitoring of credit risk.</span></div><div class=\"ps4562 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">These credit terms are normally contractual, and credit policies clearly define the guidelines for extending </span></div><div class=\"ps3366 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">credit to customers, including monitoring processes and reference to relevant industry practices. This </span></div><div class=\"ps9644 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">includes the assessment and evaluation of customers\u2019 creditworthiness and periodic reviews of their </span></div><div class=\"ps9645 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">financial status to determine the credit limits. Customers are also assessed based on their historical </span></div><div class=\"ps10288 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">payment behaviour. Where necessary, customers may be required to provide security or advance payments </span></div><div class=\"ps10289 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">before services are rendered.</span></div><div class=\"ps10290 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Related party credit risk is managed by the Executive Management of Cadeler and overseen by the Board </span></div><div class=\"ps10291 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">of Directors.</span></div><div class=\"ps4572 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The maximum exposure to credit risk is the carrying amount of trade receivables and other receivables, </span></div><div class=\"ps4573 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">receivables from group entities and cash and bank balances presented in the statement of financial </span></div><div class=\"ps4575 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">position.</span></div><div class=\"ps8676 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps2477\">Impairment of financial assets<span id=\"i3b70c7b829894e87a71fb465e6fd3d12\"></span></span></div><div class=\"ps8677 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">The Group assesses on a forward-looking basis the expected credit losses (ECLs) associated with its </span></div><div class=\"ps8678 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">financial assets which include trade and other receivables, cash and bank balances and contract assets. </span></div><div class=\"ps8679 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">Financial assets are written off when there is no reasonable expectation of recovery, such as when a non-</span></div><div class=\"ps8680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">related debtor fails to engage in a repayment plan with the Group.</span></div><div class=\"ps8681 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">Where receivables have been written off, the Group continues to pursue enforcement activities in an </span></div><div class=\"ps8682 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">attempt to recover amounts due. Where recoveries are made, these are recognised in profit or loss. As of </span></div><div class=\"ps8683 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">the reporting date, no receivables have been written off.</span></div><div class=\"ps3365 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">The Group has applied the simplified credit loss approach by using a provision matrix to measure the </span></div><div class=\"ps3200 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">lifetime expected credit losses for trade receivables from customers. To measure expected credit losses, the </span></div><div class=\"ps8685 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">Group groups receivables based on shared credit characteristics and days past due.</span></div><div class=\"ps9645 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">Trade receivables from external customers that are neither past due nor impaired are with creditworthy </span></div><div class=\"ps10288 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">counterparties. Based on the provision matrix, trade receivables from external customers are subject to </span></div><div class=\"ps10289 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">immaterial credit loss. For further analysis, refer to Note 16 for details on expected credit losses on trade </span></div><div class=\"ps10292 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">receivables and contract assets.</span></div><div class=\"ps10291 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">For cash and bank balances and other receivables measured at amortised cost, the Group considers these </span></div><div class=\"ps10293 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">financial assets to have low credit risk. Cash and bank balances mainly comprise deposits with banks that </span></div><div class=\"ps8704 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">have high credit ratings, as determined by international credit rating agencies. As of </span><span class=\"f charStyle-c1b8f9f6 ps10294\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10295\">, </span></div><div class=\"ps10298 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">cash and bank balances and other receivables are subject to immaterial credit loss. There is </span><span class=\"f charStyle-c1b8f9f6 ps10296\">no</span><span class=\"f charStyle-c1b8f9f6 ps10297\"> credit loss </span></div><div class=\"ps10305 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">allowance for other financial assets measured at amortised cost as of </span><span class=\"f charStyle-c1b8f9f6 ps10299\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10300\">, </span><span class=\"f charStyle-c1b8f9f6 ps10301\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10302\"> and </span><span class=\"f charStyle-c1b8f9f6 ps10303\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10304\">.</span></div></div><div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 23</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Financial Risk Management<span id=\"ic9729b39f0e14481a414ee16120ab3d1\"></span></span></div><div class=\"ps6975 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-cd31f1a5 ps183\">Continued from previous page</span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Liquidity risk<span id=\"idfe3fde434fa473fb4f013dfa8994309\"></span></span></div><div class=\"ps369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group manages liquidity risk by maintaining sufficient cash and access to funding through committed </span></div><div class=\"ps370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">credit facilities to enabling it to meet its operational requirements and instalments payments for the </span></div><div class=\"ps397 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">contracted newbuild vessels. </span></div><div class=\"ps372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The management of the Cadeler Group anticipates seeking additional debt financing in connection with </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">milestone payments related to the delivery of the third A-class newbuild vessel. For further details, please </span></div><div class=\"ps374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">refer to </span><span class=\"f charStyle-c1b8f9f6 ps10307\">Note 25,</span><span class=\"f charStyle-c1b8f9f6 ps10308\"> which provides a detailed disclosure of the Group\u2019s existing credit</span><span class=\"f charStyle-c1b8f9f6 ps10309\"> facilities. </span></div><div class=\"ps10310 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The following maturity table shows the contractual obligation relating to the construction of the newbuilds </span></div><div class=\"ps10311 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">vessels.</span></div><div class=\"ps7512 ss0\"><div class=\"ss193 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=\"ps37 ss733\"><div><div class=\"ps8191 ss732\"><span class=\"f charStyle-4979afbe ps39\">EUR Millions<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10315 ss734\"><div><div class=\"ps5628 ss203\"><span class=\"f charStyle-281247bf ps10313\">Less than 1 <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss203\"><span class=\"f charStyle-281247bf ps10314\">year</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10318 ss734\"><div><div class=\"ps5628 ss203\"><span class=\"f charStyle-281247bf ps10316\">Between 1 <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss203\"><span class=\"f charStyle-281247bf ps10317\">and 2 years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10319 ss734\"><div><div class=\"ps5628 ss203\"><span class=\"f charStyle-281247bf ps10316\">Between 2 <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss203\"><span class=\"f charStyle-281247bf ps10317\">and 5 years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2253 ss734\"><div><div class=\"ps5627 ss203\"><span class=\"f charStyle-281247bf ps10320\">Total<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps1987 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-b07b4361 ps39\">2025<span class=\"f ps40\"> </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=\"ps6218 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in USD<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10322 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">301</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10323 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">195</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10325 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.97pt\"></span></span><span class=\"ps10324\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10326 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">496</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"padding:0\"><div class=\"ps5518 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in USD (in EUR)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10327 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">256</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10328 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">166</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10329 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.97pt\"></span></span><span class=\"ps10324\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10330 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">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=\"ps767 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in EUR<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10331 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">40</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10332 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.97pt\"></span></span><span class=\"ps10324\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10333 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.97pt\"></span></span><span class=\"ps10324\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10334 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">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=\"ps2892 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-23b55a92 ps39\">Total obligations (in EUR)<span class=\"f ps40\"> </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=\"ps10336 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">296</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=\"ps10337 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">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=\"ps10338 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.97pt\"></span></span><span class=\"ps10324\">\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=\"ps10339 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">462</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2210 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-b07b4361 ps39\">2024<span class=\"f ps40\"> </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=\"ps5593 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in USD<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10340 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">651</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10341 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">496</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10342 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">195</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10344 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.62pt\"></span></span><span class=\"ps10343\">1,342</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"padding:0\"><div class=\"ps9509 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in USD (in EUR)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10345 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">626</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10346 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">476</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10347 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">188</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10348 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.62pt\"></span></span><span class=\"ps10343\">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=\"ps6438 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in EUR<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10349 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">65</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10350 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">40</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10351 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.97pt\"></span></span><span class=\"ps10324\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10352 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">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=\"ps5551 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-23b55a92 ps39\">Total obligations (in EUR)<span class=\"f ps40\"> </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=\"ps10353 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">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=\"ps10354 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">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=\"ps10355 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">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=\"ps10357 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.86pt\"></span></span><span class=\"ps10356\">1,395</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2912 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-b07b4361 ps39\">2023<span class=\"f ps40\"> </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=\"ps10358 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in USD<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10359 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">328</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10360 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">833</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10361 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">180</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10362 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.62pt\"></span></span><span class=\"ps10343\">1,341</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"padding:0\"><div class=\"ps3787 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in USD (in EUR)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10363 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">296</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10364 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">752</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10365 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">163</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10366 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.62pt\"></span></span><span class=\"ps10343\">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=\"ps9283 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in EUR<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10367 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">69</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10368 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">99</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10370 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.12pt\"></span></span><span class=\"ps10369\">6</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10371 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">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=\"ps6468 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-23b55a92 ps39\">Total obligations (in EUR)<span class=\"f ps40\"> </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=\"ps10372 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">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=\"ps10373 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">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=\"ps10374 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">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=\"ps10375 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.86pt\"></span></span><span class=\"ps10356\">1,385</span></span></div></div></div></td></tr></tbody></table></div></div></div></div><div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 23</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Financial Risk Management<span id=\"i3602c1eed0a140c582bca32b019edcd7\"></span></span></div><div class=\"ps6975 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-cd31f1a5 ps183\">Continued from previous page</span></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The table below analyses the maturity profile of the Company\u2019s financial liabilities based on contractual-</span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">undiscounted cash flows, excluding payments relating to newbuild vessels.</span></div><div class=\"ps10471 ss0\"><div class=\"ss176 ws0 ps67\"><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=\"ps37 ss737\"><div><div class=\"ps10377 ss361\"><span class=\"f charStyle-4979afbe ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10380 ss738\"><div><div class=\"ps7489 ss147\"><span class=\"f charStyle-281247bf ps10378\">Less than 1 <span class=\"f ps40\"> </span></span></div><div class=\"ps7490 ss147\"><span class=\"f charStyle-281247bf ps10379\">year</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7532 ss738\"><div><div class=\"ps7489 ss147\"><span class=\"f charStyle-281247bf ps10381\">Between 1 <span class=\"f ps40\"> </span></span></div><div class=\"ps7490 ss147\"><span class=\"f charStyle-281247bf ps10382\">and 2 years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10385 ss738\"><div><div class=\"ps7489 ss147\"><span class=\"f charStyle-281247bf ps10383\">After 2 <span class=\"f ps40\"> </span></span></div><div class=\"ps7490 ss147\"><span class=\"f charStyle-281247bf ps10384\">years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6049 ss738\"><div><div class=\"ps7469 ss147\"><span class=\"f charStyle-281247bf ps10386\">Total<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5143 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-b07b4361 ps39\">2025<span class=\"f ps40\"> </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=\"ps10387 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Trade and other payables<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10389 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">98,208</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10391 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10392 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10393 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">98,208</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps10394 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Payables to related parties<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10396 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">272</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10397 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10398 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10399 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">272</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps9223 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Lease liabilities<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10401 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">1,851</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10402 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">2,819</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10403 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">8,868</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10404 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">13,538</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps2302 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Debt to credit institutions<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10406 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">194,548</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10407 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">247,706</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10409 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:12.37pt\"></span></span><span class=\"ps10408\">1,607,212</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10410 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:12.37pt\"></span></span><span class=\"ps10408\">2,049,466</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps10411 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Derivatives<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10412 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">3,062</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10413 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">1,884</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10414 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">8,770</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10415 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">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=\"ps10417 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.77pt\"></span></span><span class=\"ps10416\">297,941</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10418 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.77pt\"></span></span><span class=\"ps10416\">252,409</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10419 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:9.17pt\"></span></span><span class=\"ps9470\">1,624,850</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8651 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:9.17pt\"></span></span><span class=\"ps9470\">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=\"ps2016 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-b07b4361 ps39\">2024<span class=\"f ps40\"> </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=\"ps6357 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Trade and other payables<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10420 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">43,595</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10421 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10422 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10423 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">43,595</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps6362 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Payables to related parties<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10424 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">223</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10425 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10426 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10427 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">223</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps2220 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Lease liabilities<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10428 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">1,274</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10429 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">2,337</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10430 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">7,360</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10431 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">10,971</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps685 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Debt to credit institutions<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10432 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">31,163</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10433 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">54,339</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10434 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">485,515</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10435 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">571,017</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps2111 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Derivatives<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10436 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">209</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10437 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10438 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">16,205</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10439 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">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=\"ps10441 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.94pt\"></span></span><span class=\"ps10440\">76,464</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10442 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.94pt\"></span></span><span class=\"ps10440\">56,676</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10443 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.77pt\"></span></span><span class=\"ps10416\">509,080</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10444 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.77pt\"></span></span><span class=\"ps10416\">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=\"ps6842 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-b07b4361 ps39\">2023<span class=\"f ps40\"> </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=\"ps6021 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Trade and other payables<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10445 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">32,636</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10446 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10447 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10448 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">32,636</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps10449 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Payables to related parties<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10450 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">162</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10451 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10452 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10453 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">162</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps6178 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Lease liabilities<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10454 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">601</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10455 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">392</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10456 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10457 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">993</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps9969 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Debt to credit institutions<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10458 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">799</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10459 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10460 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">204,773</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10461 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">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=\"ps10462 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Derivatives<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10463 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">4,004</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10464 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">5,683</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10465 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">12,274</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10466 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">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=\"ps10467 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.94pt\"></span></span><span class=\"ps10440\">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=\"ps10468 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.11pt\"></span></span><span class=\"ps4617\">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=\"ps10469 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.77pt\"></span></span><span class=\"ps10416\">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=\"ps10470 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.77pt\"></span></span><span class=\"ps10416\">261,324</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-644c6314 ps1006\">Change in debts to credit institutions during the year</span></div><div class=\"ps10494 ss0\"><div class=\"ss176 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=\"ps37 ss740\"><div><div class=\"ps7618 ss598\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7532 ss741\"><div><div class=\"ps4441 ss147\"><span class=\"f charStyle-281247bf ps6086\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10385 ss741\"><div><div class=\"ps4441 ss147\"><span class=\"f charStyle-054ead99 ps6086\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6049 ss741\"><div><div class=\"ps4441 ss147\"><span class=\"f charStyle-054ead99 ps6086\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps439 ss740\"><div><div class=\"ps435 ss598\"><span class=\"f charStyle-1bac868e ps630\">Debt to credit institutions at 1 January<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10474 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10473\">(571,017)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10475 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10473\">(205,572)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7731 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10473\">(115,002)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps460 ss740\"><div><div class=\"ps435 ss598\"><span class=\"f charStyle-1bac868e ps630\">Loans repayments<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10476 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">279,281</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10477 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">10,630</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7734 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">115,000</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5518 ss740\"><div><div class=\"ps435 ss598\"><span class=\"f charStyle-1bac868e ps630\">Proceeds from borrowing<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10479 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:6.95pt\"></span></span><span class=\"ps10478\">(1,337,178)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10480 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10473\">(385,234)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7738 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10473\">(211,934)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5527 ss740\"><div><div class=\"ps435 ss598\"><span class=\"f charStyle-1bac868e ps630\">New loan fees<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10481 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">25,193</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10482 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">11,100</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7740 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">8,262</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5532 ss740\"><div><div class=\"ps435 ss598\"><span class=\"f charStyle-1bac868e ps630\">Non-cash movements<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10484 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10483\">(7,033)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10485 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10483\">(1,941)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7743 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5537 ss740\"><div><div class=\"ps435 ss598\"><span class=\"f charStyle-1bac868e ps630\">Write-off of loan fees<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10486 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10487 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10488 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10483\">(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=\"ps59 ss740\"><div><div class=\"ps435 ss598\"><span class=\"f charStyle-b07b4361 ps39\">Debt to credit institutions at 31 December 2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10490 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:2.53pt\"></span></span><span class=\"ps10489\">(1,610,754)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10492 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:10.13pt\"></span></span><span class=\"ps10491\">(571,017)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10493 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:10.13pt\"></span></span><span class=\"ps10491\">(205,572)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps4569 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Total </span><span class=\"f charStyle-c1b8f9f6 ps10496\">Proceeds from borrowing, net of bank fees, </span><span class=\"f charStyle-c1b8f9f6 ps10497\">in </span><span class=\"f charStyle-c1b8f9f6 ps10498\">2025</span><span class=\"f charStyle-c1b8f9f6 ps10499\"> as per Consolidated Statement of Cash Flows </span></div><div class=\"ps4570 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">amounted to </span><span class=\"f charStyle-c1b8f9f6 ps10500\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10501\"> </span><span class=\"f charStyle-c1b8f9f6 ps10502\">1,309</span><span class=\"f charStyle-c1b8f9f6 ps10503\"> million, excluding </span><span class=\"f charStyle-c1b8f9f6 ps10504\">EUR </span><span class=\"f charStyle-c1b8f9f6 ps10505\">2.8</span><span class=\"f charStyle-c1b8f9f6 ps10506\"> of loan fees that have been included in Prepayments.</span></div></div><div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 23</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Financial Risk Management<span id=\"i02333bd18ef54b7bad290442ee513491\"></span></span></div><div class=\"ps6975 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-cd31f1a5 ps183\">Continued from previous page</span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Capital management<span id=\"i025d8568241546d6b01fee9b47d8e40f\"></span></span></div><div class=\"ps369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Company\u2019s objectives when managing capital are to ensure the </span></div><div class=\"ps370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Company\u2019s ability to continue as a going concern and to maintain an </span></div><div class=\"ps397 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">optimal capital structure.</span></div><div class=\"ps372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In order to achieve this overall objective, the Company\u2019s capital </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">management aims, among other things, to ensure compliance wth </span></div><div class=\"ps374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the financial covenants attached to the interest-bearing loans and </span></div><div class=\"ps375 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">borrowings that define capital structure requirements. A breach of </span></div><div class=\"ps376 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the financial covenants would permit the bank to immediately call </span></div><div class=\"ps398 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">loans and borrowings. There have been no breaches of the financial </span></div><div class=\"ps399 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">covenants of any interest-bearing loans and borrowing in the current </span></div><div class=\"ps10507 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">period.</span></div><div class=\"ps380 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In order to maintain or adjust the capital structure in the future, the </span></div><div class=\"ps381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Group may adjust dividend payments to shareholders, issue new </span></div><div class=\"ps400 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">shares and/or dispose of assets to reduce debt. Pursuant to the </span></div><div class=\"ps426 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Green Corporate Facility, the Company is not permitted to pay any </span></div><div class=\"ps427 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">dividends or other distributions without the prior written consent of </span></div><div class=\"ps428 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">DNB Bank ASA.</span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps879\">Fair value measurement<span id=\"ide79311c8cde4f88ab294fa6177f27b8\"></span></span></div><div class=\"ps369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">The Group measures derivatives at fair value at each balance sheet </span></div><div class=\"ps370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">date. Fair value is the price that would be received to sell an asset or </span></div><div class=\"ps397 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">paid to transfer a liability in an orderly transaction between market </span></div><div class=\"ps7437 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">participants at the balance sheet date. </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">The principal, or in its absence the most advantageous market must </span></div><div class=\"ps374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">be accessible by the Group. The fair value of an asset or liability is </span></div><div class=\"ps375 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">measured using the assumptions that market participants would use </span></div><div class=\"ps376 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">when pricing the asset or liability, assuming that market participants </span></div><div class=\"ps398 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">act in their own economic best interest.</span></div><div class=\"ps378 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">In measuring the fair value of unlisted derivative financial instruments </span></div><div class=\"ps379 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">and other financial instruments for which there is no active market, </span></div><div class=\"ps380 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">fair value is determined using generally accepted valuation </span></div><div class=\"ps381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">techniques. Market-based parameters such as market-based yield </span></div><div class=\"ps400 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">curves and forward exchange rate are used for the valuation.</span></div><div class=\"ps383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">The Group uses valuation techniques that are appropriate in the </span></div><div class=\"ps401 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">circumstances and for which sufficient data is available to measure </span></div><div class=\"ps402 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">fair value, maximising the use of relevant observable inputs and </span></div><div class=\"ps403 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">minimising the use of unobservable inputs.</span></div><div class=\"ps416 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Financial instruments for which fair value is measured or disclosed in </span></div><div class=\"ps417 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">the financial statements are categorised within the fair value </span></div><div class=\"ps418 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">hierarchy, as described below:</span></div><div class=\"ps5466 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Level 1: The fair value of financial instruments traded in active markets </span></div><div class=\"ps5467 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">(such as publicly traded derivatives, and equity securities) is based on </span></div><div class=\"ps5468 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">quoted market prices at the end of the reporting period. The quoted </span></div><div class=\"ps422 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">market price used for financial assets held by the Group is the current </span></div><div class=\"ps423 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">bid price. These instruments are included in level 1. </span></div><div class=\"ps7070 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Level 2: The fair value of financial instruments that are not traded in </span></div><div class=\"ps7071 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">an active market (e.g. over-the counter derivatives) is determined </span></div><div class=\"ps7072 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">using valuation techniques that maximise the use of observable </span></div><div class=\"ps7073 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">market data and rely as little as possible on entity-specific estimates. </span></div><div class=\"ps5472 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">The valuation techniques applied are primarily based on marked-</span></div><div class=\"ps5473 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">based inputs of the instruments. If all significant inputs required to </span></div><div class=\"ps5474 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">measure the fair value of an instrument are observable, the </span></div><div class=\"ps5475 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">instrument is included in Level 2.</span></div><div class=\"ps10508 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Level 3: If one or more of the significant inputs is not observable </span></div><div class=\"ps10509 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">market data, the instrument is included in Level 3.</span></div><div class=\"ps10510 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">The table below shows the fair value measurement of the Group\u2019s </span></div><div class=\"ps10511 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">assets and liabilities:</span></div></div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 23</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Financial Risk Management<span id=\"i17d62998c5ee46b7b38fe49e60f71f68\"></span></span></div><div class=\"ps6975 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-cd31f1a5 ps183\">Continued from previous page</span></div><div class=\"ps7512 ss0\"><div class=\"ss193 ws0 ps67\"><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=\"ps37 ss742\"><div><div class=\"ps7618 ss697\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9576 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-281247bf ps3737\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9577 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-054ead99 ps3737\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5310 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-054ead99 ps3737\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps439 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-b07b4361 ps39\">Derivative assets measured at fair value<span class=\"f ps40\"> </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=\"ps460 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-1bac868e ps630\">Interest from IRS recycled through OCI<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10514 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10515 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">228</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10516 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5518 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-1bac868e ps630\">Interest rate swaps<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10517 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">2,171</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10518 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">1,287</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10519 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">338</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5527 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-1bac868e ps630\">FX forward contracts<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10520 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">511</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10521 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">6,849</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10522 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5532 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-1bac868e ps630\">FX option collars<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10523 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10524 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">4,764</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10525 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5537 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-1bac868e ps630\">Time value of FX option collars through OCI<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10526 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10527 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">5,340</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10528 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps59 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-b07b4361 ps39\">Total derivative assets<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10529 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.86pt\"></span></span><span class=\"ps6090\">2,682</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10530 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7299\">18,468</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10531 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.46pt\"></span></span><span class=\"ps9601\">338</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5171 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-b07b4361 ps39\">Derivative liabilities measured at fair value<span class=\"f ps40\"> </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=\"ps5545 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-1bac868e ps630\">Interest rate swap<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10532 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7268\">10,499</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10533 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7268\">16,231</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10534 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7268\">11,789</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5550 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-1bac868e ps630\">FX forward contracts<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10535 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10536 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10537 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">5,338</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5551 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-1bac868e ps630\">Interest recycled through OCI<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10538 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">525</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10539 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10540 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">810</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5557 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-1bac868e ps630\">Time value of FX option collars through OCI<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10541 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">576</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10542 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">209</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10543 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">3,621</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps4019 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-1bac868e ps630\">Derivatives ineffective hedges<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10544 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">2,116</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10545 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.85pt\"></span></span><span class=\"ps9592\">(26)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10546 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">403</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5564 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-b07b4361 ps39\">Total derivative liabilities<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10547 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7299\">13,716</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10548 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7299\">16,414</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10549 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7299\">21,961</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">As of </span><span class=\"f charStyle-c1b8f9f6 ps9662\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps9663\">, the fair value of the derivative assets amounted to </span><span class=\"f charStyle-c1b8f9f6 ps10551\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10552\"> </span><span class=\"f charStyle-c1b8f9f6 ps10553\">2,682 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10554\"> (</span><span class=\"f charStyle-c1b8f9f6 ps10555\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10556\">: </span><span class=\"f charStyle-c1b8f9f6 ps10557\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10558\"> </span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">18,468 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10559\">; </span><span class=\"f charStyle-c1b8f9f6 ps10560\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10561\">: EUR </span><span class=\"f charStyle-c1b8f9f6 ps10562\">338 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10563\">) and derivative liabilities amounted to </span><span class=\"f charStyle-c1b8f9f6 ps10564\">13,716 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10565\"> (</span><span class=\"f charStyle-c1b8f9f6 ps10566\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10567\">: </span><span class=\"f charStyle-c1b8f9f6 ps10568\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10569\"> </span></div><div class=\"ps7161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">16,414 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10570\">; </span><span class=\"f charStyle-c1b8f9f6 ps10571\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10572\">: </span><span class=\"f charStyle-c1b8f9f6 ps10573\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10574\"> </span><span class=\"f charStyle-c1b8f9f6 ps10575\">21,961 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10576\">). The variation primarily reflects the execution of certain </span></div><div class=\"ps7164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">financial instruments, together with changes in interest rate expectations in 2025 compared to 2024. These </span></div><div class=\"ps7578 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">expectations were driven by more persistent inflation and continued economic resilience, resulting in higher </span></div><div class=\"ps7579 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">interest rates and a stronger USD.</span></div><div class=\"ps7118 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">As of </span><span class=\"f charStyle-c1b8f9f6 ps9662\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps9663\">, derivatives measured at fair value through profit or loss amounted to a gain of </span></div><div class=\"ps7119 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9078\"> </span><span class=\"f charStyle-c1b8f9f6 ps9079\">2,116 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10577\"> gain (</span><span class=\"f charStyle-c1b8f9f6 ps10578\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10579\">: </span><span class=\"f charStyle-c1b8f9f6 ps10580\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10581\"> </span><span class=\"f charStyle-c1b8f9f6 ps10582\">26 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10583\"> loss; </span><span class=\"f charStyle-c1b8f9f6 ps10584\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10585\">: </span><span class=\"f charStyle-c1b8f9f6 ps10586\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10587\"> </span><span class=\"f charStyle-c1b8f9f6 ps10588\">403 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10589\"> gain). </span></div><div class=\"ps424 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">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 ps183\">Note 24</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Derivative Financial Instruments<span id=\"i74bbd761097e4b5eb3a43ac604fcbb59\"></span></span></div><div class=\"ps6921 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Hedge accounting<span id=\"id5794f3801f142039fd8b90cd16b8edf\"></span></span></div><div class=\"ps6924 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group uses forward exchange contracts, including options (collars), and interest rate swap contracts to </span></div><div class=\"ps6926 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">hedge currency and interest rate risks related to highly probable future cash flows, and designates these </span></div><div class=\"ps2788 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">instruments as cash flow hedges, subject to meeting the criteria for the application of cash flow hedge </span></div><div class=\"ps2789 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">accounting. </span></div><div class=\"ps7579 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The hedging ratios are determined as the notional value of the hedging instrument divided by the notional </span></div><div class=\"ps6936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">value of the hedged item. The Group seeks to establish hedge relationships with a hedging ratio of 1:1. Due </span></div><div class=\"ps6937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">to the nature of the hedged item\u2019s risk, this is achieved by either designating a proportion of the hedging </span></div><div class=\"ps6940 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">instrument or by insuring that the hedge notional value is equal to or lower than the notional value of the </span></div><div class=\"ps2794 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">hedged item. The primary source of hedge ineffectiveness arises from the timing of vessel deliveries. The </span></div><div class=\"ps2795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">delivery of the vessel exposes the Group to multiple market risks, primarily foreign currency risks and </span></div><div class=\"ps2796 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">interest rate risk. The fair value changes of the hedging instruments are recognised in other comprehensive </span></div><div class=\"ps2797 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">income until the hedged items are recognised or realised. </span></div><div class=\"ps6924 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">The table below shows the movement in the reserve for cash flow for hedging, listed by the hedged risk.</span></div><div class=\"ps10471 ss0\"><div class=\"ss118 ws0 ps2924\"><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=\"ps37 ss744\"><div><div class=\"ps6200 ss743\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10590 ss324\"><div><div class=\"ps4288 ss287\"><span class=\"f charStyle-281247bf ps3871\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10591 ss324\"><div><div class=\"ps4288 ss287\"><span class=\"f charStyle-054ead99 ps3871\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10592 ss324\"><div><div class=\"ps4288 ss287\"><span class=\"f charStyle-054ead99 ps3871\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4293 ss745\"><div><div class=\"ps2702 ss743\"><span class=\"f charStyle-b07b4361 ps39\">Fair Value change of Cash flow hedges<span class=\"f ps40\"> </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=\"ps5195 ss745\"><div><div class=\"ps2702 ss743\"><span class=\"f charStyle-1bac868e ps630\">Cumulative fair value change at 1 January<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10594 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10593\">1,799</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10596 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.35pt\"></span></span><span class=\"ps10595\">(21,559)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10597 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10593\">1,343</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5204 ss745\"><div><div class=\"ps2702 ss743\"><span class=\"f charStyle-1bac868e ps630\">Fair value adjustment at year-end, net<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10598 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.2pt\"></span></span><span class=\"ps7394\">(5,003)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10600 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.77pt\"></span></span><span class=\"ps10599\">13,079</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10601 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.35pt\"></span></span><span class=\"ps10595\">(18,505)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5211 ss745\"><div><div class=\"ps2702 ss743\"><span class=\"f charStyle-1bac868e ps630\">Items recycled at year-end, net<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10602 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.2pt\"></span></span><span class=\"ps7394\">(2,582)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10603 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10593\">1,527</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10605 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31pt\"></span></span><span class=\"ps10604\">(776)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5220 ss745\"><div><div class=\"ps5193 ss743\"><span class=\"f charStyle-1bac868e ps630\">Transfer of cash flow hedge reserve to property, plant <span class=\"f ps40\"> </span></span></div><div class=\"ps5194 ss743\"><span class=\"f charStyle-1bac868e ps630\">and equipment</span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10606 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10593\">2,536</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10608 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10607\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10609 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10607\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5686 ss745\"><div><div class=\"ps2702 ss743\"><span class=\"f charStyle-1bac868e ps630\">Time value adjustment at year-end, net<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10610 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.2pt\"></span></span><span class=\"ps7394\">(5,708)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10611 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10593\">8,752</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10612 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.2pt\"></span></span><span class=\"ps7394\">(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=\"ps6305 ss745\"><div><div class=\"ps2702 ss743\"><span class=\"f charStyle-b07b4361 ps39\">Cumulative fair value change at 31 December<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10613 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.22pt\"></span></span><span class=\"ps7376\">(8,958)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10615 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.86pt\"></span></span><span class=\"ps10614\">1,799</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10617 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.05pt\"></span></span><span class=\"ps10616\">(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=\"ps6306 ss745\"><div><div class=\"ps5193 ss743\"><span class=\"f charStyle-b07b4361 ps39\">The fair value of cash flow hedges at 31 December <span class=\"f ps40\"> </span></span></div><div class=\"ps5194 ss743\"><span class=\"f charStyle-b07b4361 ps39\">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=\"ps9956 ss745\"><div><div class=\"ps2702 ss743\"><span class=\"f charStyle-1bac868e ps630\">Interest rate risk hedging<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10618 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.2pt\"></span></span><span class=\"ps7394\">(9,839)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10619 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.35pt\"></span></span><span class=\"ps10595\">(14,945)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10620 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.35pt\"></span></span><span class=\"ps10595\">(11,790)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps9960 ss745\"><div><div class=\"ps2702 ss743\"><span class=\"f charStyle-1bac868e ps630\">Foreign currency risk hedging<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10621 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10593\">1,457</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10622 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.77pt\"></span></span><span class=\"ps10599\">11,612</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10623 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.2pt\"></span></span><span class=\"ps7394\">(6,148)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps7503 ss745\"><div><div class=\"ps2702 ss743\"><span class=\"f charStyle-1bac868e ps630\">Foreign currency risk hedging - time value<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10624 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31pt\"></span></span><span class=\"ps10604\">(576)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10625 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10593\">5,132</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10626 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.2pt\"></span></span><span class=\"ps7394\">(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=\"ps9969 ss745\"><div><div class=\"ps2702 ss743\"><span class=\"f charStyle-b07b4361 ps39\">Cumulative fair value change at 31 December<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10627 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.22pt\"></span></span><span class=\"ps7376\">(8,958)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10628 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.86pt\"></span></span><span class=\"ps10614\">1,799</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10629 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.05pt\"></span></span><span class=\"ps10616\">(21,559)</span></span></div></div></div></td></tr></tbody></table></div></div></div></div><div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 24</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Derivative Financial Instruments<span id=\"ic9e76dfaee9e48d4a68be4041408486e\"></span></span></div><div class=\"ps6975 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-cd31f1a5 ps183\">Continued from previous page</span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Interest rate risk<span id=\"i295b7d3cae0a455994b5dd56fa5ae766\"></span></span></div><div class=\"ps369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group entered interest rate swap contracts with its main bank and designated these in relation to the </span></div><div class=\"ps370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Green Corporate Facility, P-class Facility and future loans to finance the purchase of the newbuild vessels. </span></div><div class=\"ps397 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Further details regarding the Group\u2019s current debt facilities related to interest rate swaps are provided in </span></div><div class=\"ps7437 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 25.</span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The interest rate risk arising from the loans has been partially hedged by swapping exposure from 3M </span></div><div class=\"ps374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">EURIBOR to a fixed interest rate. The credit facilities continue to expose the Group to changes in the 3M </span></div><div class=\"ps375 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">EURIBOR rate.</span></div><div class=\"ps10311 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The average fixed rate of the swaps is </span><span class=\"f charStyle-c1b8f9f6 ps10632\">2.83%</span><span class=\"f charStyle-c1b8f9f6 ps10633\"> (</span><span class=\"f charStyle-c1b8f9f6 ps10634\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10635\">: </span><span class=\"f charStyle-c1b8f9f6 ps10636\">2.78%</span><span class=\"f charStyle-c1b8f9f6 ps10637\">; </span><span class=\"f charStyle-c1b8f9f6 ps10638\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10639\">: </span><span class=\"f charStyle-c1b8f9f6 ps10640\">2.81%</span><span class=\"f charStyle-c1b8f9f6 ps10641\">). </span></div><div class=\"ps10312 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">A further portion of the exposure has been hedged through interest rate swap contracts with caps and </span></div><div class=\"ps7454 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">floors. The average fixed rate of the cap/floor swaps falls between </span><span class=\"f charStyle-c1b8f9f6 ps10642\">2.1%</span><span class=\"f charStyle-c1b8f9f6 ps10643\"> and </span><span class=\"f charStyle-c1b8f9f6 ps10644\">1.1%</span><span class=\"f charStyle-c1b8f9f6 ps10645\">.</span></div><div class=\"ps10646 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The economic relationship is established through a match of critical terms between the hedged item and </span></div><div class=\"ps8602 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the hedging instrument. The Group has assessed the following terms when entering into the hedge </span></div><div class=\"ps10647 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">relationship:</span></div><div class=\"ps10650 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps10648\">\u25e6<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps10649\">Instalments on the facilities.</span></div><div class=\"ps2445 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps10648\">\u25e6<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps10649\">Payment date of interest and instalment.</span></div><div class=\"ps2512 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps10648\">\u25e6<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps10649\">Timing difference in the maturity of the hedge item and hedge instrument.</span></div><div class=\"ps5000 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The expected causes of hedge ineffectiveness relate to:</span></div><div class=\"ps2870 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps10648\">\u25e6<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps10649\">Changes to the expected date of delivery of the vessels.</span></div><div class=\"ps4527 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps10648\">\u25e6<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps10649\">3M EURIBOR rate falling below </span><span class=\"f charStyle-c1b8f9f6 ps10651\">0%</span><span class=\"f charStyle-c1b8f9f6 ps10652\">.</span></div><div class=\"ps3625 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The table below shows the nominal amounts and the fair values of the interest rate swaps.</span></div><div class=\"ps7512 ss0\"><div class=\"ss176 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=\"ps10658 ss747\"><div><div class=\"ps5627 ss746\"><span class=\"f charStyle-054ead99 ps10657\">Fair Value EUR'000<span class=\"f ps40\"> </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=\"ps1987 ss748\"><div><div class=\"ps10659 ss93\"><span class=\"f charStyle-4979afbe ps39\">Notional amount EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10665 ss749\"><div><div class=\"ps5655 ss337\"><span class=\"f charStyle-281247bf ps10660\">Less <span class=\"f ps40\"> </span></span></div><div class=\"ps10662 ss337\"><span class=\"f charStyle-281247bf ps10661\">than 1 </span></div><div class=\"ps10664 ss337\"><span class=\"f charStyle-281247bf ps10663\">year</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10669 ss750\"><div><div class=\"ps5655 ss224\"><span class=\"f charStyle-281247bf ps10666\">Between <span class=\"f ps40\"> </span></span></div><div class=\"ps10662 ss224\"><span class=\"f charStyle-281247bf ps10667\">1 and 2 </span></div><div class=\"ps10664 ss224\"><span class=\"f charStyle-281247bf ps10668\">years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10670 ss750\"><div><div class=\"ps5655 ss224\"><span class=\"f charStyle-281247bf ps10666\">Between <span class=\"f ps40\"> </span></span></div><div class=\"ps10662 ss224\"><span class=\"f charStyle-281247bf ps10667\">2 and 5 </span></div><div class=\"ps10664 ss224\"><span class=\"f charStyle-281247bf ps10668\">years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10673 ss751\"><div><div class=\"ps10662 ss452\"><span class=\"f charStyle-281247bf ps10671\">More than <span class=\"f ps40\"> </span></span></div><div class=\"ps10664 ss452\"><span class=\"f charStyle-281247bf ps10672\">5 years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10675 ss752\"><div><div class=\"ps10664 ss161\"><span class=\"f charStyle-281247bf ps10674\">Asset<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10677 ss752\"><div><div class=\"ps10664 ss161\"><span class=\"f charStyle-281247bf ps10676\">Liability<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2074 ss753\"><div><div class=\"ps4441 ss93\"><span class=\"f charStyle-b07b4361 ps39\">2025<span class=\"f ps40\"> </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=\"ps10678 ss753\"><div><div class=\"ps4441 ss93\"><span class=\"f charStyle-48c03ae0 ps630\">IRS \u2013 EURIBOR 3M<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10680 ss754\"><div><div class=\"ps4441 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.72pt\"></span></span><span class=\"ps10679\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10681 ss609\"><div><div class=\"ps4441 ss224\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.17pt\"></span></span><span class=\"ps7637\">150,000</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10682 ss609\"><div><div class=\"ps4441 ss224\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.17pt\"></span></span><span class=\"ps7637\">576,703</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10684 ss755\"><div><div class=\"ps4441 ss452\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:14.67pt\"></span></span><span class=\"ps10683\">141,875</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10685 ss674\"><div><div class=\"ps4441 ss161\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:14.62pt\"></span></span><span class=\"ps8901\">2,172</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10687 ss674\"><div><div class=\"ps4441 ss161\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:4.35pt\"></span></span><span class=\"ps10686\">(10,499)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps7385 ss753\"><div><div class=\"ps4441 ss93\"><span class=\"f charStyle-b07b4361 ps39\">2024<span class=\"f ps40\"> </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=\"ps5680 ss753\"><div><div class=\"ps4441 ss93\"><span class=\"f charStyle-1bac868e ps630\">IRS \u2013 EURIBOR 3M<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10688 ss754\"><div><div class=\"ps4441 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.72pt\"></span></span><span class=\"ps10679\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10689 ss609\"><div><div class=\"ps4441 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.22pt\"></span></span><span class=\"ps7626\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10690 ss609\"><div><div class=\"ps4441 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.17pt\"></span></span><span class=\"ps7637\">355,117</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10691 ss755\"><div><div class=\"ps4441 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:14.67pt\"></span></span><span class=\"ps10683\">455,625</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10692 ss674\"><div><div class=\"ps4441 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:14.62pt\"></span></span><span class=\"ps8901\">1,286</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10693 ss674\"><div><div class=\"ps4441 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:4.35pt\"></span></span><span class=\"ps10686\">(16,231)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps6357 ss753\"><div><div class=\"ps4441 ss93\"><span class=\"f charStyle-b07b4361 ps39\">2023<span class=\"f ps40\"> </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=\"ps6305 ss753\"><div><div class=\"ps4441 ss93\"><span class=\"f charStyle-1bac868e ps630\">IRS \u2013 EURIBOR 3M<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10694 ss754\"><div><div class=\"ps4441 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.72pt\"></span></span><span class=\"ps10679\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10695 ss609\"><div><div class=\"ps4441 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.22pt\"></span></span><span class=\"ps7626\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10696 ss609\"><div><div class=\"ps4441 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.17pt\"></span></span><span class=\"ps7637\">555,000</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10698 ss755\"><div><div class=\"ps4441 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.72pt\"></span></span><span class=\"ps10697\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10699 ss674\"><div><div class=\"ps4441 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.97pt\"></span></span><span class=\"ps8913\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10700 ss674\"><div><div class=\"ps4441 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:4.35pt\"></span></span><span class=\"ps10686\">(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=\"ps691 ss756\"><div><div class=\"ps6278 ss93\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </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=\"ps10702 ss468\"><div><div class=\"ps5127 ss452\"><span class=\"f charStyle-281247bf ps4658\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10703 ss757\"><div><div class=\"ps5127 ss161\"><span class=\"f charStyle-054ead99 ps6379\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps4412 ss757\"><div><div class=\"ps5127 ss161\"><span class=\"f charStyle-054ead99 ps6379\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps3996 ss758\"><div><div class=\"ps5628 ss93\"><span class=\"f charStyle-b07b4361 ps39\">Movements in the hedging <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss93\"><span class=\"f charStyle-b07b4361 ps39\">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=\"ps2912 ss758\"><div><div class=\"ps5627 ss93\"><span class=\"f charStyle-1bac868e ps630\">Beginning of year<span class=\"f ps40\"> </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=\"ps10705 ss453\"><div><div class=\"ps5627 ss452\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:14.1pt\"></span></span><span class=\"ps10704\">(14,945)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10706 ss170\"><div><div class=\"ps5627 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:4.35pt\"></span></span><span class=\"ps10686\">(11,790)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10707 ss170\"><div><div class=\"ps5627 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:14.62pt\"></span></span><span class=\"ps8901\">3,163</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps802 ss758\"><div><div class=\"ps5628 ss93\"><span class=\"f charStyle-1bac868e ps630\">Fair value adjustment for <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss93\"><span class=\"f charStyle-1bac868e ps630\">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=\"ps10708 ss453\"><div><div class=\"ps5627 ss452\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.37pt\"></span></span><span class=\"ps7802\">5,864</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10709 ss170\"><div><div class=\"ps5627 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:9.2pt\"></span></span><span class=\"ps6825\">(3,265)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10710 ss170\"><div><div class=\"ps5627 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:4.35pt\"></span></span><span class=\"ps10686\">(14,177)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5764 ss758\"><div><div class=\"ps5627 ss93\"><span class=\"f charStyle-1bac868e ps630\">Ineffectiveness<span class=\"f ps40\"> </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=\"ps10712 ss453\"><div><div class=\"ps5627 ss452\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.95pt\"></span></span><span class=\"ps10711\">(1,511)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10713 ss170\"><div><div class=\"ps5627 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.97pt\"></span></span><span class=\"ps8913\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10714 ss170\"><div><div class=\"ps5627 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.97pt\"></span></span><span class=\"ps8913\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps4668 ss758\"><div><div class=\"ps5627 ss93\"><span class=\"f charStyle-1bac868e ps630\">Items recycled for the year<span class=\"f ps40\"> </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=\"ps10715 ss453\"><div><div class=\"ps5627 ss452\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7805\">753</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10716 ss170\"><div><div class=\"ps5627 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.42pt\"></span></span><span class=\"ps6798\">110</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10717 ss170\"><div><div class=\"ps5627 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16pt\"></span></span><span class=\"ps6827\">(776)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10718 ss758\"><div><div class=\"ps5627 ss93\"><span class=\"f charStyle-b07b4361 ps39\">End of year<span class=\"f ps40\"> </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=\"ps10720 ss453\"><div><div class=\"ps5627 ss452\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.97pt\"></span></span><span class=\"ps10719\">(9,839)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10722 ss170\"><div><div class=\"ps5627 ss161\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:1.05pt\"></span></span><span class=\"ps10721\">(14,945)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10723 ss170\"><div><div class=\"ps5627 ss161\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:1.05pt\"></span></span><span class=\"ps10721\">(11,790)</span></span></div></div></div></td></tr></tbody></table></div></div></div></div><div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 24</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Derivative Financial Instruments<span id=\"ib83ffc4b72884d779827fa5af95e1ce2\"></span></span></div><div class=\"ps6975 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-cd31f1a5 ps183\">Continued from previous page</span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Foreign currency risk hedging<span id=\"i54edb84666704c6887debf34649e5c53\"></span></span></div><div class=\"ps369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">As a result of the contracts signed with COSCO and Hanwha for the construction of the newbuild vessels, </span></div><div class=\"ps370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the Group is exposed to foreign exchange risk, as instalment payments are denominated in USD, while the </span></div><div class=\"ps397 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">functional currency is </span><span class=\"f charStyle-c1b8f9f6 ps10724\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10725\">. The final instalments are payable upon delivery of the vessels. </span></div><div class=\"ps372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The currency exposure arising from these contracts has been swapped into </span><span class=\"f charStyle-c1b8f9f6 ps10726\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10727\"> at an average USD:</span><span class=\"f charStyle-c1b8f9f6 ps10728\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10729\"> rate </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">of </span><span class=\"f charStyle-c1b8f9f6 ps10242\">0.8586</span><span class=\"f charStyle-c1b8f9f6 ps10730\"> (</span><span class=\"f charStyle-c1b8f9f6 ps10731\">0.9107</span><span class=\"f charStyle-c1b8f9f6 ps10732\"> for </span><span class=\"f charStyle-c1b8f9f6 ps10733\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10734\"> and </span><span class=\"f charStyle-c1b8f9f6 ps10735\">0.9187</span><span class=\"f charStyle-c1b8f9f6 ps10736\"> for </span><span class=\"f charStyle-c1b8f9f6 ps10737\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10738\">). </span></div><div class=\"ps10741 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">A further portion of the exposure to fluctuations in future exchange rates has been hedged through </span><span class=\"f charStyle-c1b8f9f6 ps10739\">zero</span><span class=\"f charStyle-c1b8f9f6 ps10740\">-</span></div><div class=\"ps10310 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">cost collar contracts, securing an average USD:</span><span class=\"f charStyle-c1b8f9f6 ps10742\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10743\"> rate ranging between </span><span class=\"f charStyle-c1b8f9f6 ps10744\">0.8607</span><span class=\"f charStyle-c1b8f9f6 ps7940\"> and </span><span class=\"f charStyle-c1b8f9f6 ps10745\">0.9092</span><span class=\"f charStyle-c1b8f9f6 ps10746\">. As of </span></div><div class=\"ps10311 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps8029\">, the total coverage effectively mitigates approximately </span><span class=\"f charStyle-c1b8f9f6 ps10747\">42%</span><span class=\"f charStyle-c1b8f9f6 ps10748\"> on average of the Group\u2019s </span></div><div class=\"ps377 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">foreign exchange risk related to future USD denominated instalments under the A-class vessel contracts.</span></div><div class=\"ps7454 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The economic relationship is established through a match of critical terms between the hedge item and </span></div><div class=\"ps7455 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">hedge instrument. The Group has assessed the following terms when entering into the hedge relationship:</span></div><div class=\"ps8602 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps10648\">\u25e6<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps10649\">Payment dates of instalments in foreign currency.</span></div><div class=\"ps10749 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps10648\">\u25e6<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps10649\">Maturity of the hedged item and hedged instruments (forward contract and option </span></div><div class=\"ps10650 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps10649\">collars).</span></div><div class=\"ps2445 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The expected causes of hedging ineffectiveness primarily relate to changes in the expected delivery dates of </span></div><div class=\"ps2446 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the vessel. The table below presents the nominal amounts and fair values of the foreign currency forward </span></div><div class=\"ps2447 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">contracts and option collars.</span></div><div class=\"ps7512 ss0\"><div class=\"ss176 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=\"ps7836 ss760\"><div><div class=\"ps5127 ss730\"><span class=\"f charStyle-054ead99 ps10751\">Fair Value EUR'000<span class=\"f ps40\"> </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=\"ps4698 ss761\"><div><div class=\"ps8191 ss759\"><span class=\"f charStyle-4979afbe ps39\">Notational amount USD'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10752 ss446\"><div><div class=\"ps5628 ss147\"><span class=\"f charStyle-281247bf ps10378\">Less than 1 <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss147\"><span class=\"f charStyle-281247bf ps10379\">year</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10753 ss446\"><div><div class=\"ps5628 ss147\"><span class=\"f charStyle-281247bf ps10381\">Between 1 <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss147\"><span class=\"f charStyle-281247bf ps10382\">and 2 years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10754 ss446\"><div><div class=\"ps5628 ss147\"><span class=\"f charStyle-281247bf ps10381\">Between 2 <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss147\"><span class=\"f charStyle-281247bf ps10382\">and 5 years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10756 ss762\"><div><div class=\"ps5627 ss378\"><span class=\"f charStyle-281247bf ps10755\">Asset<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10758 ss762\"><div><div class=\"ps5627 ss378\"><span class=\"f charStyle-281247bf ps10757\">Liability<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5644 ss763\"><div><div class=\"ps5127 ss759\"><span class=\"f charStyle-b07b4361 ps39\">2025<span class=\"f ps40\"> </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=\"ps3743 ss763\"><div><div class=\"ps5127 ss759\"><span class=\"f charStyle-48c03ae0 ps630\">FX forward contracts<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10759 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">162,295</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10760 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">48,800</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10761 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10762 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8222\">511</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10764 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.72pt\"></span></span><span class=\"ps10763\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"background-color:#206079;padding:0\"><div class=\"ps49 ss763\"><div><div class=\"ps5127 ss759\"><span class=\"f charStyle-48c03ae0 ps630\">Option collars<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10765 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">159,875</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps6867 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">48,800</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps50 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10766 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.72pt\"></span></span><span class=\"ps10763\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10767 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.75pt\"></span></span><span class=\"ps8357\">(576)</span></span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"padding:0\"><div class=\"ps6518 ss763\"><div><div class=\"ps5127 ss759\"><span class=\"f charStyle-b07b4361 ps39\">2024<span class=\"f ps40\"> </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=\"ps5211 ss763\"><div><div class=\"ps5127 ss759\"><span class=\"f charStyle-1bac868e ps630\">FX forward contracts<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10768 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">104,545</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10769 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">55,398</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10770 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10771 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.37pt\"></span></span><span class=\"ps8206\">6,849</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10772 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.72pt\"></span></span><span class=\"ps10763\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"padding:0\"><div class=\"ps5532 ss763\"><div><div class=\"ps5127 ss759\"><span class=\"f charStyle-1bac868e ps630\">Option collars<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10773 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">300,000</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10774 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">100,000</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10775 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7855 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.52pt\"></span></span><span class=\"ps10776\">10,104</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10777 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.75pt\"></span></span><span class=\"ps8357\">(209)</span></span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"padding:0\"><div class=\"ps2310 ss763\"><div><div class=\"ps5127 ss759\"><span class=\"f charStyle-b07b4361 ps39\">2023<span class=\"f ps40\"> </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=\"ps2278 ss763\"><div><div class=\"ps5127 ss759\"><span class=\"f charStyle-1bac868e ps630\">FX forward contracts<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10778 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">150,000</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10779 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">50,000</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10780 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10781 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.72pt\"></span></span><span class=\"ps10763\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10783 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.95pt\"></span></span><span class=\"ps10782\">(5,338)</span></span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"padding:0\"><div class=\"ps2095 ss763\"><div><div class=\"ps5127 ss759\"><span class=\"f charStyle-1bac868e ps630\">Option collars<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10784 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10785 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">250,000</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10786 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">50,000</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10787 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.72pt\"></span></span><span class=\"ps10763\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10788 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.95pt\"></span></span><span class=\"ps10782\">(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=\"ps10789 ss763\"><div><div class=\"ps6278 ss759\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </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=\"ps10790 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-281247bf ps6086\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10792 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-054ead99 ps10791\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10793 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-054ead99 ps10791\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7409 ss761\"><div><div class=\"ps5628 ss759\"><span class=\"f charStyle-b07b4361 ps39\">Movements in the hedging <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss759\"><span class=\"f charStyle-b07b4361 ps39\">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=\"ps2228 ss763\"><div><div class=\"ps5127 ss759\"><span class=\"f charStyle-1bac868e ps630\">Beginning of year<span class=\"f ps40\"> </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=\"ps10794 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">16,744</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10795 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.95pt\"></span></span><span class=\"ps10782\">(9,769)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10796 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.95pt\"></span></span><span class=\"ps10782\">(1,820)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps6007 ss761\"><div><div class=\"ps5628 ss759\"><span class=\"f charStyle-1bac868e ps630\">Fair value adjustment for the <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss759\"><span class=\"f charStyle-1bac868e ps630\">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=\"ps10797 ss446\"><div><div class=\"ps5627 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10483\">(6,103)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10798 ss762\"><div><div class=\"ps5627 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.52pt\"></span></span><span class=\"ps10776\">10,771</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10799 ss762\"><div><div class=\"ps5627 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.95pt\"></span></span><span class=\"ps10782\">(3,518)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5557 ss761\"><div><div class=\"ps5628 ss759\"><span class=\"f charStyle-1bac868e ps630\">Fair value adjustment for the <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss759\"><span class=\"f charStyle-1bac868e ps630\">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=\"ps10800 ss446\"><div><div class=\"ps5627 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10483\">(4,764)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10801 ss762\"><div><div class=\"ps5627 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.37pt\"></span></span><span class=\"ps8206\">5,573</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10802 ss762\"><div><div class=\"ps5627 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.75pt\"></span></span><span class=\"ps8357\">(810)</span></span></div></div></div></td></tr><tr style=\"height:36.75pt\"><td style=\"padding:0\"><div class=\"ps6455 ss765\"><div><div class=\"ps5655 ss759\"><span class=\"f charStyle-1bac868e ps630\">Transfer of cash flow hedge <span class=\"f ps40\"> </span></span></div><div class=\"ps10662 ss759\"><span class=\"f charStyle-1bac868e ps630\">reserve to property, plant and </span></div><div class=\"ps10664 ss759\"><span class=\"f charStyle-1bac868e ps630\">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=\"ps10803 ss766\"><div><div class=\"ps10664 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">2,536</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10804 ss767\"><div><div class=\"ps10664 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.72pt\"></span></span><span class=\"ps10763\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10805 ss767\"><div><div class=\"ps10664 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.72pt\"></span></span><span class=\"ps10763\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"padding:0\"><div class=\"ps10806 ss763\"><div><div class=\"ps5127 ss759\"><span class=\"f charStyle-1bac868e ps630\">Items recycled for the year<span class=\"f ps40\"> </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=\"ps10807 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10483\">(1,824)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10808 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.37pt\"></span></span><span class=\"ps8206\">1,417</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10809 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.72pt\"></span></span><span class=\"ps10763\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps10810 ss761\"><div><div class=\"ps5628 ss759\"><span class=\"f charStyle-1bac868e ps630\">Time value adjustment for the <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss759\"><span class=\"f charStyle-1bac868e ps630\">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=\"ps10811 ss446\"><div><div class=\"ps5627 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10483\">(5,708)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10812 ss762\"><div><div class=\"ps5627 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.37pt\"></span></span><span class=\"ps8206\">8,752</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10813 ss762\"><div><div class=\"ps5627 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.95pt\"></span></span><span class=\"ps10782\">(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=\"ps4051 ss763\"><div><div class=\"ps5127 ss759\"><span class=\"f charStyle-b07b4361 ps39\">End of year<span class=\"f ps40\"> </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=\"ps10815 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.71pt\"></span></span><span class=\"ps10814\">881</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10817 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:14.44pt\"></span></span><span class=\"ps10816\">16,744</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps4052 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:12.97pt\"></span></span><span class=\"ps10818\">(9,769)</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 ps183\">Note 24</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Derivative Financial Instruments<span id=\"i1d7bc608ee4c476c9c2e8e573fa532ae\"></span></span></div><div class=\"ps6975 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-cd31f1a5 ps183\">Continued from previous page</span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies<span id=\"ic09a383af8ab4b488bf22a7990e12a85\"></span></span></div><div class=\"ps369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Derivative financial instruments are initially recognised at fair value on the date the derivative contract is </span></div><div class=\"ps370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">entered into and are subsequently remeasured at fair value through profit and loss. Derivatives are carried </span></div><div class=\"ps397 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">as financial assets, presented as derivative assets, when the fair value is positive and as financial liabilities, </span></div><div class=\"ps7437 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">presented as derivative liabilities, when the fair value is negative.</span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">At the inception of a hedge relationship, the Group formally designates and documents the hedge </span></div><div class=\"ps374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">relationship, including the risk management objective and strategy for undertaking the hedge.</span></div><div class=\"ps10310 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Changes in the fair value of derivative financial instruments designated as cash flow hedges are recognised </span></div><div class=\"ps10311 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">in other comprehensive income and presented under \u201cHedging reserves\u201d (equity). Where the expected </span></div><div class=\"ps377 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">future transactions result in the acquisition of non-financial assets, amounts deferred in equity are </span></div><div class=\"ps378 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">transferred from equity and included in the cost of the asset. Where expected future transactions result in </span></div><div class=\"ps379 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">income or expenses, amounts deferred under in equity are transferred from equity to the statement of </span></div><div class=\"ps380 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">profit and loss, in the same item as the hedged transaction, as a reclassification adjustment. In addition, the </span></div><div class=\"ps381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">entity may transfer the cumulative fair value changes recognised in equity upon derecognition of the </span></div><div class=\"ps400 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">hedged item. </span></div><div class=\"ps383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Changes in the fair value of derivative financial instruments not designated as hedges are recognised in the </span></div><div class=\"ps401 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">statement of profit and loss. Certain borrowing facilities when undrawn do not qualify for hedge </span></div><div class=\"ps402 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">accounting. Changes in the fair value of these derivative financial instruments are therefore recognised in </span></div><div class=\"ps403 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the statement of profit and loss under \u201cFinancial income\u201d or \u201cFinancial expenses\u201d for interest rate swaps. </span></div><div class=\"ps387 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The amount included in the hedging reserve is the lower, in absolute terms, of the cumulative fair value </span></div><div class=\"ps388 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">adjustment of the hedging instrument and the hedged item. Hedge ineffectiveness is recognised in the </span></div><div class=\"ps405 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">consolidated statement of profit and loss. Cost of hedging reserves include the time value of options. </span></div><div class=\"ps406 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">These costs are recognised separately in Other Comprehensive Income (OCI) and are amortised over the </span></div><div class=\"ps407 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">life of the hedging instrument, in accordance with the specific hedging relationship. If the hedge is </span></div><div class=\"ps408 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">discontinued, any unamortised cost of hedging is recognised immediately in profit or loss.</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 ps183\">Note 25</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Financial Liabilities: Interest-bearing Loans and Borrowings<span id=\"ia0b999c032cd4b8fa64ba3530eed0930\"></span></span></div><div class=\"ps9289 ss0\"><div class=\"ss786 ws0 ps67\"><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=\"ps37 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-b07b4361 ps39\">As of 31 December 2025<span class=\"f ps40\"> </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=\"ps10928 ss783\"><div><div class=\"ps4441 ss782\"><span class=\"f charStyle-b07b4361 ps10927\">Committed (EUR millions)<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"padding:0\"><div class=\"ps10929 ss785\"><div><div class=\"ps7618 ss784\"><span class=\"f charStyle-64a4cf84 ps39\">Related derivatives contracts<span class=\"f ps40\"> </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=\"ps439 ss709\"><div><div class=\"ps8191 ss697\"><span class=\"f charStyle-4979afbe ps39\">EUR Millions<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10821 ss768\"><div><div class=\"ps8191 ss431\"><span class=\"f charStyle-4979afbe ps39\">Interest rate<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10822 ss471\"><div><div class=\"ps8191 ss336\"><span class=\"f charStyle-4979afbe ps39\">Maturity<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10823 ss770\"><div><div class=\"ps8191 ss769\"><span class=\"f charStyle-4979afbe ps39\">Covenants<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10824 ss772\"><div><div class=\"ps5627 ss771\"><span class=\"f charStyle-281247bf ps3989\">Utilised<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10827 ss303\"><div><div class=\"ps5628 ss297\"><span class=\"f charStyle-281247bf ps10825\">Accumulated <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss297\"><span class=\"f charStyle-281247bf ps10826\">repayments</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10829 ss773\"><div><div class=\"ps5627 ss316\"><span class=\"f charStyle-281247bf ps10828\">Unutilised<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10831 ss774\"><div><div class=\"ps8191 ss241\"><span class=\"f charStyle-4979afbe ps10830\">Average IRS rate<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10835 ss774\"><div><div class=\"ps10833 ss241\"><span class=\"f charStyle-4979afbe ps10832\">IRS nominal (EUR <span class=\"f ps40\"> </span></span></div><div class=\"ps8191 ss241\"><span class=\"f charStyle-4979afbe ps10834\">millions)</span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps1989 ss775\"><div><div class=\"ps4607 ss697\"><span class=\"f charStyle-b07b4361 ps39\">Secured<span class=\"f ps40\"> </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=\"ps2138 ss775\"><div><div class=\"ps4607 ss697\"><span class=\"f charStyle-1bac868e ps630\">Green Corporate Facility (RCF + term loan)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10840 ss776\"><div><div class=\"ps4607 ss431\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3807\">3 months EURIBOR + </span><span class=\"f charStyle-36184c7f ps10837\">2%</span><span class=\"f charStyle-36184c7f ps10838\"> - </span><span class=\"f charStyle-36184c7f ps10839\">2.75%</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10842 ss479\"><div><div class=\"ps4607 ss336\"><span class=\"f charStyle-e5ec5c44 ps10841\">2032<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10844 ss777\"><div><div class=\"ps4607 ss769\"><span class=\"f charStyle-e5ec5c44 ps10843\">Yes - refer to page 203<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10846 ss778\"><div><div class=\"ps4607 ss771\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:52.17pt\"></span></span><span class=\"ps10845\">283</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10847 ss779\"><div><div class=\"ps4607 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.85pt\"></span></span><span class=\"ps9592\">(87)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10849 ss780\"><div><div class=\"ps4607 ss316\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:54.42pt\"></span></span><span class=\"ps10848\">148</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10851 ss781\"><div><div class=\"ps4607 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps10850\"></span><span class=\"ps10850\">2.7</span><span class=\"ps5318\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10852 ss781\"><div><div class=\"ps4607 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.67pt\"></span></span><span class=\"ps9809\">247</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5955 ss775\"><div><div class=\"ps4607 ss697\"><span class=\"f charStyle-1bac868e ps630\">Green Corporate Facility - Guarantee<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10855 ss776\"><div><div class=\"ps4607 ss431\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3807\">0.8%</span><span class=\"f charStyle-36184c7f ps10853\"> - </span><span class=\"f charStyle-36184c7f ps10854\">1.2%</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10856 ss479\"><div><div class=\"ps4607 ss336\"><span class=\"f charStyle-e5ec5c44 ps10841\">2026<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10857 ss777\"><div><div class=\"ps4607 ss769\"><span class=\"f charStyle-e5ec5c44 ps10843\">Yes - refer to page 203<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10858 ss778\"><div><div class=\"ps4607 ss771\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:52.17pt\"></span></span><span class=\"ps10845\">157</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10859 ss779\"><div><div class=\"ps4607 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10861 ss780\"><div><div class=\"ps4607 ss316\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:59.27pt\"></span></span><span class=\"ps10860\">43</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10862 ss781\"><div><div class=\"ps4607 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\"></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=\"ps2892 ss775\"><div><div class=\"ps4607 ss697\"><span class=\"f charStyle-b07b4361 ps39\">Total Green Corporate Facility<span class=\"f ps40\"> </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=\"ps10864 ss778\"><div><div class=\"ps4607 ss771\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.21pt\"></span></span><span class=\"ps10863\">440</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10866 ss779\"><div><div class=\"ps4607 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.99pt\"></span></span><span class=\"ps10865\">(87)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10868 ss780\"><div><div class=\"ps4607 ss316\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:53.46pt\"></span></span><span class=\"ps10867\">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=\"ps5686 ss775\"><div><div class=\"ps4607 ss697\"><span class=\"f charStyle-1bac868e ps630\">P-Class Facility\u00b9<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10869 ss776\"><div><div class=\"ps4607 ss431\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3807\">3 months EURIBOR + </span><span class=\"f charStyle-36184c7f ps10837\">1.6%</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10870 ss479\"><div><div class=\"ps4607 ss336\"><span class=\"f charStyle-e5ec5c44 ps10841\">2037<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10871 ss777\"><div><div class=\"ps4607 ss769\"><span class=\"f charStyle-e5ec5c44 ps10843\">Yes - refer to page 203<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10872 ss778\"><div><div class=\"ps4607 ss771\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:52.17pt\"></span></span><span class=\"ps10845\">421</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10873 ss779\"><div><div class=\"ps4607 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.85pt\"></span></span><span class=\"ps9592\">(35)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10875 ss780\"><div><div class=\"ps4607 ss316\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:59.97pt\"></span></span><span class=\"ps10874\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10876 ss781\"><div><div class=\"ps4607 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps10850\"></span><span class=\"ps10850\">3.0</span><span class=\"ps5318\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10877 ss781\"><div><div class=\"ps4607 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.87pt\"></span></span><span class=\"ps7284\">105.1</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps10878 ss775\"><div><div class=\"ps4607 ss697\"><span class=\"f charStyle-1bac868e ps630\">A-Class Facility I &amp; II<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10879 ss776\"><div><div class=\"ps4607 ss431\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3807\">3 months EURIBOR + </span><span class=\"f charStyle-36184c7f ps10837\">1.6%</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10880 ss479\"><div><div class=\"ps4607 ss336\"><span class=\"f charStyle-e5ec5c44 ps10841\">2037<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10881 ss777\"><div><div class=\"ps4607 ss769\"><span class=\"f charStyle-e5ec5c44 ps10843\">Yes - refer to page 203<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10882 ss778\"><div><div class=\"ps4607 ss771\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:52.17pt\"></span></span><span class=\"ps10845\">262</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10884 ss779\"><div><div class=\"ps4607 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.7pt\"></span></span><span class=\"ps10883\">(5)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10885 ss780\"><div><div class=\"ps4607 ss316\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:54.42pt\"></span></span><span class=\"ps10848\">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=\"ps2107 ss775\"><div><div class=\"ps4607 ss697\"><span class=\"f charStyle-1bac868e ps630\">Wind Keeper Facility<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10886 ss776\"><div><div class=\"ps4607 ss431\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3807\">3 months EURIBOR + </span><span class=\"f charStyle-36184c7f ps10837\">2.1%</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10887 ss479\"><div><div class=\"ps4607 ss336\"><span class=\"f charStyle-e5ec5c44 ps10841\">2030<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10888 ss777\"><div><div class=\"ps4607 ss769\"><span class=\"f charStyle-e5ec5c44 ps10843\">Yes - refer to page 203<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10889 ss778\"><div><div class=\"ps4607 ss771\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:52.17pt\"></span></span><span class=\"ps10845\">125</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10890 ss779\"><div><div class=\"ps4607 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10891 ss780\"><div><div class=\"ps4607 ss316\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:59.97pt\"></span></span><span class=\"ps10874\">\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=\"ps10892 ss775\"><div><div class=\"ps4607 ss697\"><span class=\"f charStyle-1bac868e ps630\">M-Class Facility I &amp; II<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10893 ss776\"><div><div class=\"ps4607 ss431\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3807\">3 months EURIBOR + </span><span class=\"f charStyle-36184c7f ps10837\">2.5%</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10894 ss479\"><div><div class=\"ps4607 ss336\"><span class=\"f charStyle-e5ec5c44 ps10841\">2037<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10895 ss777\"><div><div class=\"ps4607 ss769\"><span class=\"f charStyle-e5ec5c44 ps10843\">Yes - refer to page 203<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10896 ss778\"><div><div class=\"ps4607 ss771\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:52.17pt\"></span></span><span class=\"ps10845\">420</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10897 ss779\"><div><div class=\"ps4607 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.85pt\"></span></span><span class=\"ps9592\">(13)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10898 ss780\"><div><div class=\"ps4607 ss316\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:59.97pt\"></span></span><span class=\"ps10874\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10899 ss781\"><div><div class=\"ps4607 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\"></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=\"ps6014 ss775\"><div><div class=\"ps4607 ss697\"><span class=\"f charStyle-b07b4361 ps39\">Unsecured<span class=\"f ps40\"> </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=\"ps10900 ss775\"><div><div class=\"ps4607 ss697\"><span class=\"f charStyle-1bac868e ps630\">HoldCo Facility<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10901 ss776\"><div><div class=\"ps4607 ss431\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3807\">3 months EURIBOR + </span><span class=\"f charStyle-36184c7f ps10837\">4%</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10902 ss479\"><div><div class=\"ps4607 ss336\"><span class=\"f charStyle-e5ec5c44 ps10841\">2028<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10903 ss777\"><div><div class=\"ps4607 ss769\"><span class=\"f charStyle-1bac868e ps39\">Yes - refer to page 203<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10904 ss778\"><div><div class=\"ps4607 ss771\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:52.17pt\"></span></span><span class=\"ps10845\">125</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10905 ss779\"><div><div class=\"ps4607 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10906 ss780\"><div><div class=\"ps4607 ss316\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:59.97pt\"></span></span><span class=\"ps10874\">\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=\"ps5755 ss775\"><div><div class=\"ps4607 ss697\"><span class=\"f charStyle-1bac868e ps630\">HoldCo Facility II<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10907 ss776\"><div><div class=\"ps4607 ss431\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3807\">3 months EURIBOR + </span><span class=\"f charStyle-36184c7f ps10837\">4%</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10908 ss479\"><div><div class=\"ps4607 ss336\"><span class=\"f charStyle-e5ec5c44 ps10841\">2030<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10909 ss777\"><div><div class=\"ps4607 ss769\"><span class=\"f charStyle-1bac868e ps39\">Yes - refer to page 203<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10911 ss778\"><div><div class=\"ps4607 ss771\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:57.02pt\"></span></span><span class=\"ps10910\">60</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10912 ss779\"><div><div class=\"ps4607 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10913 ss780\"><div><div class=\"ps4607 ss316\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:59.97pt\"></span></span><span class=\"ps10874\">\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=\"ps10462 ss775\"><div><div class=\"ps4607 ss697\"><span class=\"f charStyle-1bac868e ps630\">Unsecured guarantee facility<span class=\"f ps40\"> </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=\"ps10914 ss777\"><div><div class=\"ps4607 ss769\"><span class=\"f charStyle-1bac868e ps39\">Yes - refer to page 203<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10915 ss778\"><div><div class=\"ps4607 ss771\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:57.02pt\"></span></span><span class=\"ps10910\">96</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10916 ss779\"><div><div class=\"ps4607 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10918 ss780\"><div><div class=\"ps4607 ss316\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:64.12pt\"></span></span><span class=\"ps10917\">7</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10919 ss781\"><div><div class=\"ps4607 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\"></span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10920 ss781\"><div><div class=\"ps4607 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\"></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"background-color:#206079;padding:0\"><div class=\"ps5349 ss775\"><div><div class=\"ps4607 ss697\"><span class=\"f charStyle-23b55a92 ps39\">Total (excluding Guarantee facility)<span class=\"f ps40\"> </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=\"ps10923 ss778\"><div><div class=\"ps4607 ss771\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.98pt\"></span></span><span class=\"ps10921\">1,696</span><span class=\"ps10922\">\u00b2</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10925 ss779\"><div><div class=\"ps4607 ss297\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.82pt\"></span></span><span class=\"ps10924\">(140)</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10926 ss780\"><div><div class=\"ps4607 ss316\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:53.46pt\"></span></span><span class=\"ps10867\">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=\"ps10959 ss0\"><div class=\"ss787 ws0 ps67\"><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=\"ps37 ss788\"><div><div class=\"ps10948 ss787\" style=\"font-size:12pt\"><span class=\"f charStyle-f8d16a17 ps10930\"><sup>1 </sup></span><span class=\"f charStyle-df865089 ps10931\">For the P-class Facility, up to </span><span class=\"f charStyle-df865089 ps10932\">EUR</span><span class=\"f charStyle-df865089 ps10933\"> </span><span class=\"f charStyle-df865089 ps10934\">425</span><span class=\"f charStyle-df865089 ps10935\"> million, </span><span class=\"f charStyle-df865089 ps10936\">EUR</span><span class=\"f charStyle-df865089 ps10937\"> </span><span class=\"f charStyle-df865089 ps10938\">214</span><span class=\"f charStyle-df865089 ps10939\">million was available for Wind Peak of which </span><span class=\"f charStyle-df865089 ps10940\">EUR</span><span class=\"f charStyle-df865089 ps10941\"> </span><span class=\"f charStyle-df865089 ps10942\">421 million</span><span class=\"f charStyle-df865089 ps10943\"> has been utilised and the remaining </span><span class=\"f charStyle-df865089 ps10944\">EUR</span><span class=\"f charStyle-58d8bcbe ps10945\"> </span><span class=\"f charStyle-df865089 ps10946\">4</span><span class=\"f charStyle-df865089 ps10947\"> million lapsed. </span></div><div class=\"ps10958 ss787\" style=\"font-size:12pt\"><span class=\"f charStyle-f8d16a17 ps10930\"><sup>2</sup></span><span class=\"f charStyle-df865089 ps10949\"> The difference between </span><span class=\"f charStyle-df865089 ps10950\">EUR</span><span class=\"f charStyle-df865089 ps10951\"> </span><span class=\"f charStyle-df865089 ps10952\">1,696 million</span><span class=\"f charStyle-df865089 ps10953\"> and the carrying amount of </span><span class=\"f charStyle-df865089 ps10954\">EUR</span><span class=\"f charStyle-58d8bcbe ps10955\"> </span><span class=\"f charStyle-df865089 ps10956\">1,611 million</span><span class=\"f charStyle-df865089 ps10957\"> is mainly related to interest and fees.</span></div></div></div></td></tr></tbody></table></div></div></div></div><div class=\"ps10963 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Green Corporate Facility (formerly referred to as \u201cNew <span id=\"i4641db1b21454607875c215d46850a8c\"></span></span></div><div class=\"ps10964 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">debt Facility\u201d)</span></div><div class=\"ps10965 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In December 2023, Cadeler announced the signing of a EUR </span></div><div class=\"ps8936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">550\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10966\"> Senior Secured Green Facilities, the \u201cGreen Corporate </span></div><div class=\"ps7350 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Facility\u201d, with a group of banks led by DNB and supported by </span></div><div class=\"ps6985 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Rabobank, Credit Agricole, Danske Bank, Oversea-Chinese Banking </span></div><div class=\"ps7362 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Corporation (\u201cOCBC\u201d), Standard Chartered Bank and Soci\u00e9t\u00e9 </span></div><div class=\"ps9349 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">G\u00e9n\u00e9rale.</span></div><div class=\"ps6988 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The main objective of the Green Corporate Facility is to refinance </span></div><div class=\"ps9352 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">and fund upgrades to existing vessels, as well as to provide funding </span></div><div class=\"ps9353 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">for general corporate and working capital purposes.</span></div><div class=\"ps8948 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Green Corporate Facility comprises two RCFs amounting to EUR </span></div><div class=\"ps8949 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">350\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10966\">, a EUR </span><span class=\"f charStyle-c1b8f9f6 ps10967\">100\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10968\"> term loan guaranteed by The Danish </span></div><div class=\"ps9356 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Export and Investment Fund of Denmark (EIFO) and a EUR </span></div><div class=\"ps10969 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">200\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10966\"> uncommitted Guarantee facility.</span></div><div class=\"ps10970 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Holdco Facility<span id=\"idc8116543ec04d0085a457bedbf8be4f\"></span></span></div><div class=\"ps8951 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In November 2023, Cadeler entered into a bilateral unsecured </span></div><div class=\"ps10973 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Green Loan Facility with HSBC of EUR </span><span class=\"f charStyle-c1b8f9f6 ps10971\">80\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10972\">, which was upsized </span></div><div class=\"ps10976 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">to EUR </span><span class=\"f charStyle-c1b8f9f6 ps10974\">125\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10975\"> during 2024. The main purpose of the facility has </span></div><div class=\"ps3209 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">been to pre-finance the construction of the P-class and A-class </span></div><div class=\"ps10977 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">newbuild vessels in addition to the upgrade of the existing O-class </span></div><div class=\"ps9387 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">vessels.</span></div><div class=\"ps10978 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In November 2025, Cadeler entered into a second unsecured Green </span></div><div class=\"ps10982 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Loan Facility with HSBC and C</span><span class=\"f charStyle-c1b8f9f6 ps10979\">lifford Capital of EUR </span><span class=\"f charStyle-c1b8f9f6 ps10980\">60\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10981\"> with a </span></div><div class=\"ps10985 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">non-committed accordion option of up to EUR </span><span class=\"f charStyle-c1b8f9f6 ps10983\">80\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10984\">.</span></div><div class=\"ps10986 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">As of 31 December 2025, both unsecured facilities are fully utilised.</span></div><div class=\"ps10962 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-80a97fbb ps224\">Project Financing<span id=\"if56c08fedad24245974e647b20856c71\"></span></span></div><div class=\"ps10963 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps224\">P-class Facility<span id=\"if516b9384d2744eba9fb89344e3d0373\"></span></span></div><div class=\"ps3114 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">In December 2023, Cadeler announced the signing of a Sinosure-</span></div><div class=\"ps3115 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">backed Senior Secured Green Term Loan Facility of up to </span></div><div class=\"ps3116 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">EUR425\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10987\">. The purpose of the P-class Facility is to finance </span></div><div class=\"ps3117 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">Cadeler\u2019s </span><span class=\"f charStyle-c1b8f9f6 ps10988\">two</span><span class=\"f charStyle-c1b8f9f6 ps10989\"> newbuild vessels, Wind Peak and Wind Pace, which </span></div><div class=\"ps3118 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">were delivered on August 2024 and March 2025, respectively.</span></div><div class=\"ps10990 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps224\">M-class Facility I &amp; II<span id=\"i62f7e5a2ba7d497faf900a30229af0df\"></span></span></div><div class=\"ps6987 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">In August 2024, Cadeler successfully refinanced the USD </span><span class=\"f charStyle-c1b8f9f6 ps10991\">436\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10992\"> </span></div><div class=\"ps6988 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">Senior Secured Green Term Loan Facility (M-class Facility) to </span><span class=\"f charStyle-c1b8f9f6 ps10993\">two</span><span class=\"f charStyle-c1b8f9f6 ps10994\"> </span></div><div class=\"ps9352 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">individual M-class facilities (M-class Facility I and M-class Facility II). </span></div><div class=\"ps9353 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">Both facilities are backed by Danmarks Eksport og Investeringsfond </span></div><div class=\"ps9354 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">(EIFO) and Export Finance Norway (Eksfin), and provide an </span></div><div class=\"ps9346 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">aggregate of up to </span><span class=\"f charStyle-c1b8f9f6 ps10995\">EUR420\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10996\"> in post-delivery financing. The </span></div><div class=\"ps9347 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">two</span><span class=\"f charStyle-c1b8f9f6 ps10997\"> newbuild vessels, Wind Maker and Wind Mover, were delivered </span></div><div class=\"ps10998 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">on January 2025 and November 2025, respectively.</span></div><div class=\"ps10999 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps224\">A-class Facility <span id=\"ia625b8cce4d34ba99b793a6c7821118d\"></span></span></div><div class=\"ps11002 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">In March 2025, Cadeler entered into a EUR </span><span class=\"f charStyle-c1b8f9f6 ps11000\">525</span><span class=\"f charStyle-c1b8f9f6 ps11001\">m Green Term Loan </span></div><div class=\"ps3430 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">Pre-Delivery and Post-Delivery Facility secured by Sinosure and </span></div><div class=\"ps3431 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">Eksfin. The purpose of the facility is to finance Cadeler\u2019s </span><span class=\"f charStyle-c1b8f9f6 ps11003\">two</span><span class=\"f charStyle-c1b8f9f6 ps11004\"> </span></div><div class=\"ps3432 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">newbuild vessels, Wind Ally and Wind Ace. Wind Ally has been </span></div><div class=\"ps3433 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">successful delivered ahead of schedule in September 2025 and </span></div><div class=\"ps3434 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">Wind Ace is expected to be delivered in Q1 2026.</span></div><div class=\"ps11005 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps224\">Keeper Facility<span id=\"id6d845dd45ba4bc28b6208ff6637defb\"></span></span></div><div class=\"ps2396 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">In May 2025, Cadeler entered into a bridge facility of up to EUR </span></div><div class=\"ps2397 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">150\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps11006\"> for the acquisition of Wind Keeper. This facility was </span></div><div class=\"ps11009 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">subsequently refinanced by a EUR </span><span class=\"f charStyle-c1b8f9f6 ps11007\">125\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps11008\"> Green Term Loan, </span></div><div class=\"ps11010 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">which was fully drawn in October 2025.</span></div><div class=\"ps11011 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Covenants<span id=\"i39fb197c8cdb45309962aab6c128e6be\"></span></span></div><div class=\"ps11013 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group debt </span><span class=\"f charStyle-c1b8f9f6 ps11012\">facilities include the following covenants:</span></div><div class=\"ps11015 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">All debt facilities</span></div><div class=\"ps11016 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">\u2022<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1762\">Minimum Free Liquidity: Freely available cash and cash </span></div><div class=\"ps11024 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">equivalents of i) the higher of</span><span class=\"f charStyle-c1b8f9f6 ps11017\"> </span><span class=\"f charStyle-c1b8f9f6 ps11018\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps11019\"> </span><span class=\"f charStyle-c1b8f9f6 ps11020\">35</span><span class=\"f charStyle-c1b8f9f6 ps11021\"> million or </span><span class=\"f charStyle-c1b8f9f6 ps11022\">5%</span><span class=\"f charStyle-c1b8f9f6 ps11023\"> of gross </span></div><div class=\"ps11025 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">interest-bearing debt, where the ratio of forward-looking </span></div><div class=\"ps11028 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">contract cash flow to net interest-bearing debt exceeds </span><span class=\"f charStyle-c1b8f9f6 ps11026\">50%</span><span class=\"f charStyle-c1b8f9f6 ps11027\"> </span></div><div class=\"ps11034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">or ii) </span><span class=\"f charStyle-c1b8f9f6 ps11029\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps11030\"> </span><span class=\"f charStyle-c1b8f9f6 ps11031\">50</span><span class=\"f charStyle-c1b8f9f6 ps3664\"> million or an amount equal to </span><span class=\"f charStyle-c1b8f9f6 ps11032\">7.5%</span><span class=\"f charStyle-c1b8f9f6 ps11033\"> of gross </span></div><div class=\"ps11035 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">interest-bearing debt at all other times.</span></div><div class=\"ps11037 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">\u2022<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1762\">Equity Ratio: The ratio of b</span><span class=\"f charStyle-c1b8f9f6 ps11036\">ook equity to total assets must at </span></div><div class=\"ps11040 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">all times be a minimum </span><span class=\"f charStyle-c1b8f9f6 ps11038\">35%</span><span class=\"f charStyle-c1b8f9f6 ps11039\">.</span></div><div class=\"ps11041 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">\u2022<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1762\">Working capital: The working capital shall be higher than </span></div><div class=\"ps11044 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">zero (</span><span class=\"f charStyle-c1b8f9f6 ps11042\">0</span><span class=\"f charStyle-c1b8f9f6 ps11043\">).</span></div><div class=\"ps11045 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">\u2022<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1762\">Minimum security value (loan-to-value for individual debt </span></div><div class=\"ps11046 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">facilities).</span></div><div class=\"ps11048 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\"> Additional items included in Green Corporate Facility</span></div><div class=\"ps11049 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2386\">\u2022<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps2387\">If, in any reported quarter, the aggregated loan balance </span></div><div class=\"ps11052 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2387\">exceeds </span><span class=\"f charStyle-c1b8f9f6 ps11050\">80%</span><span class=\"f charStyle-c1b8f9f6 ps11051\"> of the forward-looking expected cash </span></div><div class=\"ps11053 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2387\">revenues from legally binding contracts (the Contracted </span></div><div class=\"ps11054 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2387\">Cash Flows), the Borrower shall prepay the excess amount </span></div><div class=\"ps11055 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2387\">of the loans within five business days.</span></div><div class=\"ps11056 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">Additional items included in Holdco Facility </span></div><div class=\"ps11057 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2386\">\u2022<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps2387\">The Group is subject to a debt service coverage ratio where </span></div><div class=\"ps11058 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2387\">cash flow available for debt service (including available </span></div><div class=\"ps11059 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2387\">liquidity comprising cash, cash equivalents and undrawn </span></div><div class=\"ps11060 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2387\">Green Corporate Facility) at the Parent Company must be at </span></div><div class=\"ps11061 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2387\">leaast two times the debt service cash flow relating to the </span></div><div class=\"ps11062 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2387\">Holdco Facility (2:1). </span></div><div class=\"ps11064 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">Additional items included in M-Class Facility I &amp; II </span></div><div class=\"ps11065 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2386\">\u2022<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps2387\">The Group is required to maintain a specified number of </span></div><div class=\"ps11066 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2387\">employees in Denmark.</span></div><div class=\"ps11048 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">All covenants are tested semi-annually, at 30 June and 31 December. </span></div><div class=\"ps11049 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">The Group is in compliance with all covenants. </span></div><div class=\"ps11069 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">As of the reporting date, M-class Facilities I and II remain unutilised. </span></div><div class=\"ps11070 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Due to the non-utilisation of these facilities, no assessment of </span></div><div class=\"ps11071 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">compliance with associated covenants has been required to date. </span></div><div class=\"ps11072 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">These covenants, once applicable, will require assessment upon </span></div><div class=\"ps11073 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">utilisation of the facilities and include customary financial and other </span></div><div class=\"ps11074 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">covenants, including certain change of control provisions, similar to </span></div><div class=\"ps11075 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">those disclosed for the utilised facilities. </span></div><div class=\"ps11076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">In addition, the Group is in compliance with the following </span></div><div class=\"ps4890 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">requirements:</span></div><div class=\"ps11077 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Restriction on dividends: The Company is not permitted to pay any </span></div><div class=\"ps11078 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">dividends or other distributions without lender\u2019s written consent. </span></div><div class=\"ps11079 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Across the Group\u2019s Debt Facilities, dividends and distributions must </span></div><div class=\"ps11082 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">not exceed </span><span class=\"f charStyle-c1b8f9f6 ps11080\">50%</span><span class=\"f charStyle-c1b8f9f6 ps11081\"> of the consolidated net profit for the respective year </span></div><div class=\"ps11083 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">and the net interest bearing debt to EBITDA ratio should not be lower </span></div><div class=\"ps11086 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">than </span><span class=\"f charStyle-c1b8f9f6 ps11084\">2.75</span><span class=\"f charStyle-c1b8f9f6 ps11085\">:1. Furthermore, under the Holdco Facility, the Company is </span></div><div class=\"ps11087 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">not permitted to make any distributions prior to the delivery of the P-</span></div><div class=\"ps11088 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Class, the first two A-Class and M-Class vessels. </span></div><div class=\"ps11089 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Change of control: If any person or group of persons (other than </span></div><div class=\"ps11090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Swire Pacific, Scorpio Group or the BW Group) acting in concert </span></div><div class=\"ps11091 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">directly or indirectly gains control of 25% or more of the voting and/</span></div><div class=\"ps11092 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">or ordinary shares of the Borrower, the Agent (acting on the </span></div><div class=\"ps11095 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">instructions of the majority lenders) may, by written notice of </span><span class=\"f charStyle-c1b8f9f6 ps11093\">60</span><span class=\"f charStyle-c1b8f9f6 ps11094\"> days </span></div><div class=\"ps11096 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">cancel the total commitments and demand prepayment of all </span></div><div class=\"ps11097 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">amounts outstanding under the facilities.</span></div><div class=\"ps11100 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies<span id=\"ia724b79896824364bb1ed0a2821fa1af\"></span></span></div><div class=\"ps7078 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Debt to credit institutions etc. is recognised at the time of borrowing </span></div><div class=\"ps7079 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">at fair value after deduction of directly attributable transaction costs. </span></div><div class=\"ps7080 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Subsequently, the financial liabilities are measured at amortised cost </span></div><div class=\"ps7081 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">using the \"effective interest method\", whereby the difference </span></div><div class=\"ps7082 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">between the proceeds and the nominal value is recognised in the </span></div><div class=\"ps293 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">statement of profit and loss under financial expenses over the loan </span></div><div class=\"ps294 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">period. </span></div><div class=\"ps7083 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">A financial liability is derecognised when the obligation under the </span></div><div class=\"ps7084 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">liability is discharged, cancelled or expires.</span></div><div class=\"ps11101 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">When an existing financial liability is replaced by another from the </span></div><div class=\"ps11102 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">same lender on substantially different terms, or when the terms of an </span></div><div class=\"ps7023 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">existing liability are substantially modified, such an exchange or </span></div><div class=\"ps7024 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">modification is treated as the derecognition of the original liability </span></div><div class=\"ps7025 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">and the recognition of a new liability.</span></div><div class=\"ps11103 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The difference in the respective carrying amounts of the original and </span></div><div class=\"ps11104 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the new financial liability is recognised in the statement of profit and </span></div><div class=\"ps7026 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">loss.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-587": {
   "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 ps183\">Note 23 </span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Financial Risk Management<span id=\"i142e22eeb6ee4b569d62063b36a5336c\"></span></span></div><div class=\"ps10190 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Financial risk factors<span id=\"i92fef17d2ba64690b5da89bc24666508\"></span></span></div><div class=\"ps10191 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group\u2019s activities expose it to market risk, including currency risk and interest rate risk, as well as credit </span></div><div class=\"ps10192 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">risk and liquidity risk.</span></div><div class=\"ps7010 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The financial risk management of the Group is performed by the Management of Cadeler and overseen by </span></div><div class=\"ps7011 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the Board of Directors and Audit Committee. The fair value of the Group's financial assets and liabilities as of </span></div><div class=\"ps3194 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps8029\"> does not deviate materially from the carrying amounts as of </span><span class=\"f charStyle-c1b8f9f6 ps10193\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10194\">.</span></div><div class=\"ps7048 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-1819d385 ps183\">Quantitative and qualitative disclosures about market risk<span id=\"iea4977ea99a24a699f8a60be68581ddb\"></span></span></div><div class=\"ps10195 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Currency risk<span id=\"i172af3f680244f5d8fd11575933bbbc8\"></span></span></div><div class=\"ps10196 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group\u2019s business is exposed to the Danish Kroner (\u201cDKK\u201d), Norwegian Kroner (\u201cNOK\u201d), British Pound </span></div><div class=\"ps10197 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Sterling (\u201cGBP\u201d), United States Dollar (\u201cUSD\u201d), New Taiwan Dollar (\u201cTWD\u201d), and Japanese Yen (\u201cJPY\u201d), as </span></div><div class=\"ps10198 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">certain operating expenses are denominated in these currencies. The Company seeks to use financial </span></div><div class=\"ps7053 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">instruments to reduce currency risk when there is significant exposure to income or liabilities denominated </span></div><div class=\"ps7054 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">in currencies other than EUR or DKK, and where a cost-effective solution is available.</span></div><div class=\"ps10201 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-296ed202 ps183\">The functional currency of Cadeler A/S is </span><span class=\"f charStyle-296ed202 ps10199\">EUR</span><span class=\"f charStyle-296ed202 ps10200\">, while the largest currency exposure of the Group relates to </span></div><div class=\"ps10205 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-296ed202 ps183\">future instalments for newbuild vessels, denominated in USD, amounting to </span><span class=\"f charStyle-296ed202 ps10202\">USD </span><span class=\"f charStyle-296ed202 ps10203\">496\u00a0million</span><span class=\"f charStyle-296ed202 ps10204\">. Further details </span></div><div class=\"ps10206 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-296ed202 ps183\">regarding the instruments currently used to mitigate this currency risk are provided in Note 24. Management </span></div><div class=\"ps10207 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-296ed202 ps183\">and the Board of Directors evaluate the potential costs and benefits of currency exposure on an ongoing basis.</span></div><div class=\"ps10211 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">T</span><span class=\"f charStyle-c1b8f9f6 ps8964\">he Group holds cash balances in USD. If the USD:</span><span class=\"f charStyle-c1b8f9f6 ps1124\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10208\"> exchange rate were to deteriorate by </span><span class=\"f charStyle-c1b8f9f6 ps10209\">10%</span><span class=\"f charStyle-c1b8f9f6 ps10210\"> the result </span></div><div class=\"ps10227 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">before tax would have decreased by </span><span class=\"f charStyle-c1b8f9f6 ps10212\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10213\"> </span><span class=\"f charStyle-c1b8f9f6 ps10214\">1.6</span><span class=\"f charStyle-c1b8f9f6 ps10215\"> million (</span><span class=\"f charStyle-c1b8f9f6 ps10216\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7352\">: </span><span class=\"f charStyle-c1b8f9f6 ps10217\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10218\"> </span><span class=\"f charStyle-c1b8f9f6 ps10219\">1.8\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10220\">; </span><span class=\"f charStyle-c1b8f9f6 ps10221\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10222\">: </span><span class=\"f charStyle-c1b8f9f6 ps10223\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10224\"> </span><span class=\"f charStyle-c1b8f9f6 ps10225\">4.6\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10226\">), based on </span></div><div class=\"ps3208 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">USD cash holdings as of </span><span class=\"f charStyle-c1b8f9f6 ps10228\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10229\">.</span></div><div class=\"ps3281 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group holds cash balances in GBP. If the GBP:</span><span class=\"f charStyle-c1b8f9f6 ps10230\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10231\"> exchange rate were to deteriorate by </span><span class=\"f charStyle-c1b8f9f6 ps10232\">10%</span><span class=\"f charStyle-c1b8f9f6 ps10233\"> the result </span></div><div class=\"ps3282 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">before tax would have decreased by </span><span class=\"f charStyle-c1b8f9f6 ps10212\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10213\"> </span><span class=\"f charStyle-c1b8f9f6 ps10214\">0.4</span><span class=\"f charStyle-c1b8f9f6 ps10234\"> </span><span class=\"f charStyle-c1b8f9f6 ps10235\">million (</span><span class=\"f charStyle-c1b8f9f6 ps10236\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10237\">: </span><span class=\"f charStyle-c1b8f9f6 ps10238\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10239\"> </span><span class=\"f charStyle-c1b8f9f6 ps10240\">0.7\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10241\">) based on GBP cash holdings as </span></div><div class=\"ps3283 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">of </span><span class=\"f charStyle-c1b8f9f6 ps10242\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10243\">.</span></div><div class=\"ps2697 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-616c3f6a ps183\">As the DKK is pegged to the </span><span class=\"f charStyle-616c3f6a ps10244\">EUR</span><span class=\"f charStyle-616c3f6a ps10245\">, no material currency risk has been identified in relation to the DKK, despite the </span></div><div class=\"ps2698 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-616c3f6a ps183\">Cadeler Group incurring costs denominated in DKK. As of </span><span class=\"f charStyle-616c3f6a ps10246\">31\u00a0December 2025</span><span class=\"f charStyle-616c3f6a ps10247\">, the Cadeler Group did not hold any </span></div><div class=\"ps2699 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-616c3f6a ps183\">material cash balances denominated in NOK, JPY, or TWD.</span></div><div class=\"ps10248 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Currency risk associated with other financial instruments denominated in foriegn currencies is limited and </span></div><div class=\"ps10249 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">therefore excluded from this analysis. </span></div><div class=\"ps10190 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Interest rate risk<span id=\"i4a97714972f94b6d96c9ce5a4f4eb971\"></span></span></div><div class=\"ps10191 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The Group\u2019s current exposure to the risk of changes in market interest rates relates primarily to the Green </span></div><div class=\"ps10192 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Corporate Facility, the P-class Facility, M-class Facility and Holdco Facility. Further details regarding the </span></div><div class=\"ps7752 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">hedging instruments used to mitigate this risk are provided in Note 24.</span></div><div class=\"ps7011 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The Green Corporate Facility and Holdco Facility are based on a EURIBOR 3M interest rate plus a margin. </span></div><div class=\"ps3194 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The EURIBOR interest rate has a floor of </span><span class=\"f charStyle-c1b8f9f6 ps10250\">0</span><span class=\"f charStyle-c1b8f9f6 ps10251\">bps and was </span><span class=\"f charStyle-c1b8f9f6 ps10252\">2.1%</span><span class=\"f charStyle-c1b8f9f6 ps10253\">, </span><span class=\"f charStyle-c1b8f9f6 ps10254\">2.9%</span><span class=\"f charStyle-c1b8f9f6 ps10255\"> and </span><span class=\"f charStyle-c1b8f9f6 ps10256\">3.9%</span><span class=\"f charStyle-c1b8f9f6 ps10257\"> at the end of </span><span class=\"f charStyle-c1b8f9f6 ps10258\">2025</span><span class=\"f charStyle-c1b8f9f6 ps10259\">, </span><span class=\"f charStyle-c1b8f9f6 ps10260\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10261\"> and </span></div><div class=\"ps7012 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10262\">, respectively. </span></div><div class=\"ps7754 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">If the EURIBOR interest rate increased </span><span class=\"f charStyle-c1b8f9f6 ps10263\">100bps</span><span class=\"f charStyle-c1b8f9f6 ps10264\">, and the loans had been provided throughout the entire </span><span class=\"f charStyle-c1b8f9f6 ps10265\">2025</span><span class=\"f charStyle-c1b8f9f6 ps10266\"> </span></div><div class=\"ps7755 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">reporting period, interest costs would have increased by </span><span class=\"f charStyle-c1b8f9f6 ps10267\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10268\"> </span><span class=\"f charStyle-c1b8f9f6 ps10269\">15.6 million</span><span class=\"f charStyle-c1b8f9f6 ps10270\"> (</span><span class=\"f charStyle-c1b8f9f6 ps10271\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10272\">: </span><span class=\"f charStyle-c1b8f9f6 ps10273\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10274\"> </span><span class=\"f charStyle-c1b8f9f6 ps10275\">5.9\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10276\">; </span><span class=\"f charStyle-c1b8f9f6 ps10277\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10278\">: </span><span class=\"f charStyle-c1b8f9f6 ps10279\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10280\"> </span></div><div class=\"ps10282 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">2.1\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10281\">). Such an increase could potentially qualify as capitalisable borrowing costs, thereby mitigating </span></div><div class=\"ps7016 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">the impact on the result before tax. Conversely, if the interest rates were to decrease, the result before tax </span></div><div class=\"ps7017 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">would not be materially affected due to the capitalisation of borrowing costs.</span></div><div class=\"ps10283 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Management and the Board of Directors evaluate the potential costs and benefits of fixed interest rate </span></div><div class=\"ps10285 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">borrowing</span><span class=\"f charStyle-c1b8f9f6 ps10284\">s on an ongoing basis.</span></div></div><div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 23</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Financial Risk Management<span id=\"i1e193def17d24193b9e84315bb689546\"></span></span></div><div class=\"ps6975 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-cd31f1a5 ps183\">Continued from previous page</span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Credit risk<span id=\"if679800039c74b1ea6ede098b4004e4b\"></span></span></div><div class=\"ps8676 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Risk management<span id=\"ic761a30e8a4046648de8eb72c1862126\"></span></span></div><div class=\"ps8677 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in </span></div><div class=\"ps8678 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">financial loss to the Group. The Group adopts the following policies to mitigate credit risk.</span></div><div class=\"ps10286 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">For banks and financial institutions, the Group mitigates its credit risks by transacting only with </span></div><div class=\"ps10287 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">counterparties rated \u201cA\u201d or above by independent rating agencies.</span></div><div class=\"ps3362 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group adopts a policy of dealing only with customers with an appropriate credit history and obtaining </span></div><div class=\"ps3363 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">sufficient security where appropriate, to mitigate credit risk. The Group applies stringent procedures for </span></div><div class=\"ps3364 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">extending credit terms to customers and for the ongoing monitoring of credit risk.</span></div><div class=\"ps4562 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">These credit terms are normally contractual, and credit policies clearly define the guidelines for extending </span></div><div class=\"ps3366 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">credit to customers, including monitoring processes and reference to relevant industry practices. This </span></div><div class=\"ps9644 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">includes the assessment and evaluation of customers\u2019 creditworthiness and periodic reviews of their </span></div><div class=\"ps9645 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">financial status to determine the credit limits. Customers are also assessed based on their historical </span></div><div class=\"ps10288 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">payment behaviour. Where necessary, customers may be required to provide security or advance payments </span></div><div class=\"ps10289 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">before services are rendered.</span></div><div class=\"ps10290 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Related party credit risk is managed by the Executive Management of Cadeler and overseen by the Board </span></div><div class=\"ps10291 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">of Directors.</span></div><div class=\"ps4572 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The maximum exposure to credit risk is the carrying amount of trade receivables and other receivables, </span></div><div class=\"ps4573 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">receivables from group entities and cash and bank balances presented in the statement of financial </span></div><div class=\"ps4575 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">position.</span></div><div class=\"ps8676 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps2477\">Impairment of financial assets<span id=\"i3b70c7b829894e87a71fb465e6fd3d12\"></span></span></div><div class=\"ps8677 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">The Group assesses on a forward-looking basis the expected credit losses (ECLs) associated with its </span></div><div class=\"ps8678 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">financial assets which include trade and other receivables, cash and bank balances and contract assets. </span></div><div class=\"ps8679 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">Financial assets are written off when there is no reasonable expectation of recovery, such as when a non-</span></div><div class=\"ps8680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">related debtor fails to engage in a repayment plan with the Group.</span></div><div class=\"ps8681 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">Where receivables have been written off, the Group continues to pursue enforcement activities in an </span></div><div class=\"ps8682 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">attempt to recover amounts due. Where recoveries are made, these are recognised in profit or loss. As of </span></div><div class=\"ps8683 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">the reporting date, no receivables have been written off.</span></div><div class=\"ps3365 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">The Group has applied the simplified credit loss approach by using a provision matrix to measure the </span></div><div class=\"ps3200 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">lifetime expected credit losses for trade receivables from customers. To measure expected credit losses, the </span></div><div class=\"ps8685 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">Group groups receivables based on shared credit characteristics and days past due.</span></div><div class=\"ps9645 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">Trade receivables from external customers that are neither past due nor impaired are with creditworthy </span></div><div class=\"ps10288 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">counterparties. Based on the provision matrix, trade receivables from external customers are subject to </span></div><div class=\"ps10289 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">immaterial credit loss. For further analysis, refer to Note 16 for details on expected credit losses on trade </span></div><div class=\"ps10292 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">receivables and contract assets.</span></div><div class=\"ps10291 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">For cash and bank balances and other receivables measured at amortised cost, the Group considers these </span></div><div class=\"ps10293 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">financial assets to have low credit risk. Cash and bank balances mainly comprise deposits with banks that </span></div><div class=\"ps8704 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">have high credit ratings, as determined by international credit rating agencies. As of </span><span class=\"f charStyle-c1b8f9f6 ps10294\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10295\">, </span></div><div class=\"ps10298 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">cash and bank balances and other receivables are subject to immaterial credit loss. There is </span><span class=\"f charStyle-c1b8f9f6 ps10296\">no</span><span class=\"f charStyle-c1b8f9f6 ps10297\"> credit loss </span></div><div class=\"ps10305 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">allowance for other financial assets measured at amortised cost as of </span><span class=\"f charStyle-c1b8f9f6 ps10299\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10300\">, </span><span class=\"f charStyle-c1b8f9f6 ps10301\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10302\"> and </span><span class=\"f charStyle-c1b8f9f6 ps10303\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10304\">.</span></div></div><div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 23</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Financial Risk Management<span id=\"ic9729b39f0e14481a414ee16120ab3d1\"></span></span></div><div class=\"ps6975 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-cd31f1a5 ps183\">Continued from previous page</span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Liquidity risk<span id=\"idfe3fde434fa473fb4f013dfa8994309\"></span></span></div><div class=\"ps369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group manages liquidity risk by maintaining sufficient cash and access to funding through committed </span></div><div class=\"ps370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">credit facilities to enabling it to meet its operational requirements and instalments payments for the </span></div><div class=\"ps397 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">contracted newbuild vessels. </span></div><div class=\"ps372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The management of the Cadeler Group anticipates seeking additional debt financing in connection with </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">milestone payments related to the delivery of the third A-class newbuild vessel. For further details, please </span></div><div class=\"ps374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">refer to </span><span class=\"f charStyle-c1b8f9f6 ps10307\">Note 25,</span><span class=\"f charStyle-c1b8f9f6 ps10308\"> which provides a detailed disclosure of the Group\u2019s existing credit</span><span class=\"f charStyle-c1b8f9f6 ps10309\"> facilities. </span></div><div class=\"ps10310 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The following maturity table shows the contractual obligation relating to the construction of the newbuilds </span></div><div class=\"ps10311 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">vessels.</span></div><div class=\"ps7512 ss0\"><div class=\"ss193 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=\"ps37 ss733\"><div><div class=\"ps8191 ss732\"><span class=\"f charStyle-4979afbe ps39\">EUR Millions<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10315 ss734\"><div><div class=\"ps5628 ss203\"><span class=\"f charStyle-281247bf ps10313\">Less than 1 <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss203\"><span class=\"f charStyle-281247bf ps10314\">year</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10318 ss734\"><div><div class=\"ps5628 ss203\"><span class=\"f charStyle-281247bf ps10316\">Between 1 <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss203\"><span class=\"f charStyle-281247bf ps10317\">and 2 years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10319 ss734\"><div><div class=\"ps5628 ss203\"><span class=\"f charStyle-281247bf ps10316\">Between 2 <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss203\"><span class=\"f charStyle-281247bf ps10317\">and 5 years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2253 ss734\"><div><div class=\"ps5627 ss203\"><span class=\"f charStyle-281247bf ps10320\">Total<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps1987 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-b07b4361 ps39\">2025<span class=\"f ps40\"> </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=\"ps6218 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in USD<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10322 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">301</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10323 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">195</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10325 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.97pt\"></span></span><span class=\"ps10324\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10326 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">496</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"padding:0\"><div class=\"ps5518 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in USD (in EUR)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10327 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">256</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10328 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">166</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10329 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.97pt\"></span></span><span class=\"ps10324\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10330 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">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=\"ps767 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in EUR<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10331 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">40</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10332 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.97pt\"></span></span><span class=\"ps10324\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10333 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.97pt\"></span></span><span class=\"ps10324\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10334 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">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=\"ps2892 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-23b55a92 ps39\">Total obligations (in EUR)<span class=\"f ps40\"> </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=\"ps10336 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">296</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=\"ps10337 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">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=\"ps10338 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.97pt\"></span></span><span class=\"ps10324\">\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=\"ps10339 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">462</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2210 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-b07b4361 ps39\">2024<span class=\"f ps40\"> </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=\"ps5593 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in USD<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10340 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">651</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10341 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">496</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10342 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">195</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10344 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.62pt\"></span></span><span class=\"ps10343\">1,342</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"padding:0\"><div class=\"ps9509 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in USD (in EUR)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10345 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">626</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10346 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">476</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10347 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">188</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10348 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.62pt\"></span></span><span class=\"ps10343\">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=\"ps6438 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in EUR<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10349 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">65</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10350 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">40</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10351 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.97pt\"></span></span><span class=\"ps10324\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10352 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">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=\"ps5551 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-23b55a92 ps39\">Total obligations (in EUR)<span class=\"f ps40\"> </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=\"ps10353 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">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=\"ps10354 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">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=\"ps10355 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">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=\"ps10357 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.86pt\"></span></span><span class=\"ps10356\">1,395</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2912 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-b07b4361 ps39\">2023<span class=\"f ps40\"> </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=\"ps10358 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in USD<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10359 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">328</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10360 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">833</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10361 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">180</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10362 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.62pt\"></span></span><span class=\"ps10343\">1,341</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"padding:0\"><div class=\"ps3787 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in USD (in EUR)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10363 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">296</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10364 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">752</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10365 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">163</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10366 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.62pt\"></span></span><span class=\"ps10343\">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=\"ps9283 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in EUR<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10367 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">69</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10368 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">99</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10370 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.12pt\"></span></span><span class=\"ps10369\">6</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10371 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">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=\"ps6468 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-23b55a92 ps39\">Total obligations (in EUR)<span class=\"f ps40\"> </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=\"ps10372 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">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=\"ps10373 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">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=\"ps10374 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">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=\"ps10375 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.86pt\"></span></span><span class=\"ps10356\">1,385</span></span></div></div></div></td></tr></tbody></table></div></div></div></div><div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 23</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Financial Risk Management<span id=\"i3602c1eed0a140c582bca32b019edcd7\"></span></span></div><div class=\"ps6975 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-cd31f1a5 ps183\">Continued from previous page</span></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The table below analyses the maturity profile of the Company\u2019s financial liabilities based on contractual-</span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">undiscounted cash flows, excluding payments relating to newbuild vessels.</span></div><div class=\"ps10471 ss0\"><div class=\"ss176 ws0 ps67\"><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=\"ps37 ss737\"><div><div class=\"ps10377 ss361\"><span class=\"f charStyle-4979afbe ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10380 ss738\"><div><div class=\"ps7489 ss147\"><span class=\"f charStyle-281247bf ps10378\">Less than 1 <span class=\"f ps40\"> </span></span></div><div class=\"ps7490 ss147\"><span class=\"f charStyle-281247bf ps10379\">year</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7532 ss738\"><div><div class=\"ps7489 ss147\"><span class=\"f charStyle-281247bf ps10381\">Between 1 <span class=\"f ps40\"> </span></span></div><div class=\"ps7490 ss147\"><span class=\"f charStyle-281247bf ps10382\">and 2 years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10385 ss738\"><div><div class=\"ps7489 ss147\"><span class=\"f charStyle-281247bf ps10383\">After 2 <span class=\"f ps40\"> </span></span></div><div class=\"ps7490 ss147\"><span class=\"f charStyle-281247bf ps10384\">years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6049 ss738\"><div><div class=\"ps7469 ss147\"><span class=\"f charStyle-281247bf ps10386\">Total<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5143 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-b07b4361 ps39\">2025<span class=\"f ps40\"> </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=\"ps10387 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Trade and other payables<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10389 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">98,208</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10391 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10392 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10393 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">98,208</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps10394 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Payables to related parties<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10396 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">272</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10397 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10398 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10399 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">272</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps9223 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Lease liabilities<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10401 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">1,851</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10402 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">2,819</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10403 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">8,868</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10404 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">13,538</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps2302 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Debt to credit institutions<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10406 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">194,548</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10407 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">247,706</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10409 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:12.37pt\"></span></span><span class=\"ps10408\">1,607,212</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10410 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:12.37pt\"></span></span><span class=\"ps10408\">2,049,466</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps10411 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Derivatives<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10412 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">3,062</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10413 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">1,884</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10414 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">8,770</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10415 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">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=\"ps10417 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.77pt\"></span></span><span class=\"ps10416\">297,941</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10418 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.77pt\"></span></span><span class=\"ps10416\">252,409</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10419 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:9.17pt\"></span></span><span class=\"ps9470\">1,624,850</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8651 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:9.17pt\"></span></span><span class=\"ps9470\">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=\"ps2016 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-b07b4361 ps39\">2024<span class=\"f ps40\"> </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=\"ps6357 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Trade and other payables<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10420 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">43,595</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10421 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10422 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10423 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">43,595</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps6362 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Payables to related parties<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10424 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">223</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10425 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10426 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10427 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">223</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps2220 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Lease liabilities<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10428 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">1,274</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10429 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">2,337</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10430 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">7,360</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10431 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">10,971</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps685 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Debt to credit institutions<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10432 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">31,163</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10433 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">54,339</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10434 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">485,515</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10435 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">571,017</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps2111 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Derivatives<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10436 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">209</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10437 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10438 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">16,205</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10439 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">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=\"ps10441 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.94pt\"></span></span><span class=\"ps10440\">76,464</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10442 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.94pt\"></span></span><span class=\"ps10440\">56,676</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10443 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.77pt\"></span></span><span class=\"ps10416\">509,080</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10444 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.77pt\"></span></span><span class=\"ps10416\">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=\"ps6842 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-b07b4361 ps39\">2023<span class=\"f ps40\"> </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=\"ps6021 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Trade and other payables<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10445 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">32,636</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10446 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10447 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10448 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">32,636</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps10449 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Payables to related parties<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10450 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">162</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10451 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10452 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10453 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">162</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps6178 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Lease liabilities<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10454 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">601</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10455 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">392</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10456 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10457 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">993</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps9969 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Debt to credit institutions<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10458 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">799</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10459 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10460 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">204,773</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10461 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">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=\"ps10462 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Derivatives<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10463 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">4,004</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10464 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">5,683</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10465 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">12,274</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10466 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">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=\"ps10467 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.94pt\"></span></span><span class=\"ps10440\">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=\"ps10468 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.11pt\"></span></span><span class=\"ps4617\">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=\"ps10469 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.77pt\"></span></span><span class=\"ps10416\">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=\"ps10470 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.77pt\"></span></span><span class=\"ps10416\">261,324</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-644c6314 ps1006\">Change in debts to credit institutions during the year</span></div><div class=\"ps10494 ss0\"><div class=\"ss176 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=\"ps37 ss740\"><div><div class=\"ps7618 ss598\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7532 ss741\"><div><div class=\"ps4441 ss147\"><span class=\"f charStyle-281247bf ps6086\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10385 ss741\"><div><div class=\"ps4441 ss147\"><span class=\"f charStyle-054ead99 ps6086\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6049 ss741\"><div><div class=\"ps4441 ss147\"><span class=\"f charStyle-054ead99 ps6086\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps439 ss740\"><div><div class=\"ps435 ss598\"><span class=\"f charStyle-1bac868e ps630\">Debt to credit institutions at 1 January<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10474 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10473\">(571,017)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10475 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10473\">(205,572)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7731 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10473\">(115,002)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps460 ss740\"><div><div class=\"ps435 ss598\"><span class=\"f charStyle-1bac868e ps630\">Loans repayments<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10476 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">279,281</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10477 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">10,630</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7734 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">115,000</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5518 ss740\"><div><div class=\"ps435 ss598\"><span class=\"f charStyle-1bac868e ps630\">Proceeds from borrowing<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10479 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:6.95pt\"></span></span><span class=\"ps10478\">(1,337,178)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10480 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10473\">(385,234)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7738 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10473\">(211,934)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5527 ss740\"><div><div class=\"ps435 ss598\"><span class=\"f charStyle-1bac868e ps630\">New loan fees<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10481 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">25,193</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10482 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">11,100</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7740 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">8,262</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5532 ss740\"><div><div class=\"ps435 ss598\"><span class=\"f charStyle-1bac868e ps630\">Non-cash movements<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10484 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10483\">(7,033)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10485 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10483\">(1,941)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7743 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5537 ss740\"><div><div class=\"ps435 ss598\"><span class=\"f charStyle-1bac868e ps630\">Write-off of loan fees<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10486 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10487 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10488 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10483\">(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=\"ps59 ss740\"><div><div class=\"ps435 ss598\"><span class=\"f charStyle-b07b4361 ps39\">Debt to credit institutions at 31 December 2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10490 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:2.53pt\"></span></span><span class=\"ps10489\">(1,610,754)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10492 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:10.13pt\"></span></span><span class=\"ps10491\">(571,017)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10493 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:10.13pt\"></span></span><span class=\"ps10491\">(205,572)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps4569 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Total </span><span class=\"f charStyle-c1b8f9f6 ps10496\">Proceeds from borrowing, net of bank fees, </span><span class=\"f charStyle-c1b8f9f6 ps10497\">in </span><span class=\"f charStyle-c1b8f9f6 ps10498\">2025</span><span class=\"f charStyle-c1b8f9f6 ps10499\"> as per Consolidated Statement of Cash Flows </span></div><div class=\"ps4570 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">amounted to </span><span class=\"f charStyle-c1b8f9f6 ps10500\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10501\"> </span><span class=\"f charStyle-c1b8f9f6 ps10502\">1,309</span><span class=\"f charStyle-c1b8f9f6 ps10503\"> million, excluding </span><span class=\"f charStyle-c1b8f9f6 ps10504\">EUR </span><span class=\"f charStyle-c1b8f9f6 ps10505\">2.8</span><span class=\"f charStyle-c1b8f9f6 ps10506\"> of loan fees that have been included in Prepayments.</span></div></div><div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 23</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Financial Risk Management<span id=\"i02333bd18ef54b7bad290442ee513491\"></span></span></div><div class=\"ps6975 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-cd31f1a5 ps183\">Continued from previous page</span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Capital management<span id=\"i025d8568241546d6b01fee9b47d8e40f\"></span></span></div><div class=\"ps369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Company\u2019s objectives when managing capital are to ensure the </span></div><div class=\"ps370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Company\u2019s ability to continue as a going concern and to maintain an </span></div><div class=\"ps397 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">optimal capital structure.</span></div><div class=\"ps372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In order to achieve this overall objective, the Company\u2019s capital </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">management aims, among other things, to ensure compliance wth </span></div><div class=\"ps374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the financial covenants attached to the interest-bearing loans and </span></div><div class=\"ps375 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">borrowings that define capital structure requirements. A breach of </span></div><div class=\"ps376 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the financial covenants would permit the bank to immediately call </span></div><div class=\"ps398 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">loans and borrowings. There have been no breaches of the financial </span></div><div class=\"ps399 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">covenants of any interest-bearing loans and borrowing in the current </span></div><div class=\"ps10507 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">period.</span></div><div class=\"ps380 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In order to maintain or adjust the capital structure in the future, the </span></div><div class=\"ps381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Group may adjust dividend payments to shareholders, issue new </span></div><div class=\"ps400 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">shares and/or dispose of assets to reduce debt. Pursuant to the </span></div><div class=\"ps426 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Green Corporate Facility, the Company is not permitted to pay any </span></div><div class=\"ps427 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">dividends or other distributions without the prior written consent of </span></div><div class=\"ps428 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">DNB Bank ASA.</span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps879\">Fair value measurement<span id=\"ide79311c8cde4f88ab294fa6177f27b8\"></span></span></div><div class=\"ps369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">The Group measures derivatives at fair value at each balance sheet </span></div><div class=\"ps370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">date. Fair value is the price that would be received to sell an asset or </span></div><div class=\"ps397 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">paid to transfer a liability in an orderly transaction between market </span></div><div class=\"ps7437 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">participants at the balance sheet date. </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">The principal, or in its absence the most advantageous market must </span></div><div class=\"ps374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">be accessible by the Group. The fair value of an asset or liability is </span></div><div class=\"ps375 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">measured using the assumptions that market participants would use </span></div><div class=\"ps376 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">when pricing the asset or liability, assuming that market participants </span></div><div class=\"ps398 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">act in their own economic best interest.</span></div><div class=\"ps378 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">In measuring the fair value of unlisted derivative financial instruments </span></div><div class=\"ps379 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">and other financial instruments for which there is no active market, </span></div><div class=\"ps380 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">fair value is determined using generally accepted valuation </span></div><div class=\"ps381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">techniques. Market-based parameters such as market-based yield </span></div><div class=\"ps400 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">curves and forward exchange rate are used for the valuation.</span></div><div class=\"ps383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">The Group uses valuation techniques that are appropriate in the </span></div><div class=\"ps401 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">circumstances and for which sufficient data is available to measure </span></div><div class=\"ps402 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">fair value, maximising the use of relevant observable inputs and </span></div><div class=\"ps403 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">minimising the use of unobservable inputs.</span></div><div class=\"ps416 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Financial instruments for which fair value is measured or disclosed in </span></div><div class=\"ps417 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">the financial statements are categorised within the fair value </span></div><div class=\"ps418 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">hierarchy, as described below:</span></div><div class=\"ps5466 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Level 1: The fair value of financial instruments traded in active markets </span></div><div class=\"ps5467 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">(such as publicly traded derivatives, and equity securities) is based on </span></div><div class=\"ps5468 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">quoted market prices at the end of the reporting period. The quoted </span></div><div class=\"ps422 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">market price used for financial assets held by the Group is the current </span></div><div class=\"ps423 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">bid price. These instruments are included in level 1. </span></div><div class=\"ps7070 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Level 2: The fair value of financial instruments that are not traded in </span></div><div class=\"ps7071 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">an active market (e.g. over-the counter derivatives) is determined </span></div><div class=\"ps7072 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">using valuation techniques that maximise the use of observable </span></div><div class=\"ps7073 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">market data and rely as little as possible on entity-specific estimates. </span></div><div class=\"ps5472 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">The valuation techniques applied are primarily based on marked-</span></div><div class=\"ps5473 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">based inputs of the instruments. If all significant inputs required to </span></div><div class=\"ps5474 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">measure the fair value of an instrument are observable, the </span></div><div class=\"ps5475 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">instrument is included in Level 2.</span></div><div class=\"ps10508 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Level 3: If one or more of the significant inputs is not observable </span></div><div class=\"ps10509 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">market data, the instrument is included in Level 3.</span></div><div class=\"ps10510 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">The table below shows the fair value measurement of the Group\u2019s </span></div><div class=\"ps10511 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">assets and liabilities:</span></div></div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 23</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Financial Risk Management<span id=\"i17d62998c5ee46b7b38fe49e60f71f68\"></span></span></div><div class=\"ps6975 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-cd31f1a5 ps183\">Continued from previous page</span></div><div class=\"ps7512 ss0\"><div class=\"ss193 ws0 ps67\"><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=\"ps37 ss742\"><div><div class=\"ps7618 ss697\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9576 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-281247bf ps3737\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9577 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-054ead99 ps3737\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5310 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-054ead99 ps3737\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps439 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-b07b4361 ps39\">Derivative assets measured at fair value<span class=\"f ps40\"> </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=\"ps460 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-1bac868e ps630\">Interest from IRS recycled through OCI<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10514 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10515 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">228</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10516 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5518 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-1bac868e ps630\">Interest rate swaps<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10517 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">2,171</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10518 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">1,287</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10519 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">338</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5527 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-1bac868e ps630\">FX forward contracts<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10520 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">511</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10521 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">6,849</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10522 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5532 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-1bac868e ps630\">FX option collars<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10523 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10524 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">4,764</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10525 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5537 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-1bac868e ps630\">Time value of FX option collars through OCI<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10526 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10527 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">5,340</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10528 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps59 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-b07b4361 ps39\">Total derivative assets<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10529 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.86pt\"></span></span><span class=\"ps6090\">2,682</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10530 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7299\">18,468</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10531 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.46pt\"></span></span><span class=\"ps9601\">338</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5171 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-b07b4361 ps39\">Derivative liabilities measured at fair value<span class=\"f ps40\"> </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=\"ps5545 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-1bac868e ps630\">Interest rate swap<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10532 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7268\">10,499</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10533 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7268\">16,231</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10534 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7268\">11,789</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5550 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-1bac868e ps630\">FX forward contracts<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10535 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10536 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10537 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">5,338</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5551 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-1bac868e ps630\">Interest recycled through OCI<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10538 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">525</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10539 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10540 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">810</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5557 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-1bac868e ps630\">Time value of FX option collars through OCI<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10541 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">576</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10542 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">209</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10543 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">3,621</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps4019 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-1bac868e ps630\">Derivatives ineffective hedges<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10544 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">2,116</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10545 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.85pt\"></span></span><span class=\"ps9592\">(26)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10546 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">403</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5564 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-b07b4361 ps39\">Total derivative liabilities<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10547 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7299\">13,716</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10548 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7299\">16,414</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10549 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7299\">21,961</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">As of </span><span class=\"f charStyle-c1b8f9f6 ps9662\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps9663\">, the fair value of the derivative assets amounted to </span><span class=\"f charStyle-c1b8f9f6 ps10551\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10552\"> </span><span class=\"f charStyle-c1b8f9f6 ps10553\">2,682 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10554\"> (</span><span class=\"f charStyle-c1b8f9f6 ps10555\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10556\">: </span><span class=\"f charStyle-c1b8f9f6 ps10557\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10558\"> </span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">18,468 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10559\">; </span><span class=\"f charStyle-c1b8f9f6 ps10560\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10561\">: EUR </span><span class=\"f charStyle-c1b8f9f6 ps10562\">338 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10563\">) and derivative liabilities amounted to </span><span class=\"f charStyle-c1b8f9f6 ps10564\">13,716 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10565\"> (</span><span class=\"f charStyle-c1b8f9f6 ps10566\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10567\">: </span><span class=\"f charStyle-c1b8f9f6 ps10568\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10569\"> </span></div><div class=\"ps7161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">16,414 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10570\">; </span><span class=\"f charStyle-c1b8f9f6 ps10571\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10572\">: </span><span class=\"f charStyle-c1b8f9f6 ps10573\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10574\"> </span><span class=\"f charStyle-c1b8f9f6 ps10575\">21,961 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10576\">). The variation primarily reflects the execution of certain </span></div><div class=\"ps7164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">financial instruments, together with changes in interest rate expectations in 2025 compared to 2024. These </span></div><div class=\"ps7578 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">expectations were driven by more persistent inflation and continued economic resilience, resulting in higher </span></div><div class=\"ps7579 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">interest rates and a stronger USD.</span></div><div class=\"ps7118 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">As of </span><span class=\"f charStyle-c1b8f9f6 ps9662\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps9663\">, derivatives measured at fair value through profit or loss amounted to a gain of </span></div><div class=\"ps7119 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9078\"> </span><span class=\"f charStyle-c1b8f9f6 ps9079\">2,116 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10577\"> gain (</span><span class=\"f charStyle-c1b8f9f6 ps10578\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10579\">: </span><span class=\"f charStyle-c1b8f9f6 ps10580\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10581\"> </span><span class=\"f charStyle-c1b8f9f6 ps10582\">26 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10583\"> loss; </span><span class=\"f charStyle-c1b8f9f6 ps10584\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10585\">: </span><span class=\"f charStyle-c1b8f9f6 ps10586\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10587\"> </span><span class=\"f charStyle-c1b8f9f6 ps10588\">403 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10589\"> gain). </span></div><div class=\"ps424 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">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 ps183\">Note 24</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Derivative Financial Instruments<span id=\"i74bbd761097e4b5eb3a43ac604fcbb59\"></span></span></div><div class=\"ps6921 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Hedge accounting<span id=\"id5794f3801f142039fd8b90cd16b8edf\"></span></span></div><div class=\"ps6924 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group uses forward exchange contracts, including options (collars), and interest rate swap contracts to </span></div><div class=\"ps6926 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">hedge currency and interest rate risks related to highly probable future cash flows, and designates these </span></div><div class=\"ps2788 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">instruments as cash flow hedges, subject to meeting the criteria for the application of cash flow hedge </span></div><div class=\"ps2789 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">accounting. </span></div><div class=\"ps7579 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The hedging ratios are determined as the notional value of the hedging instrument divided by the notional </span></div><div class=\"ps6936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">value of the hedged item. The Group seeks to establish hedge relationships with a hedging ratio of 1:1. Due </span></div><div class=\"ps6937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">to the nature of the hedged item\u2019s risk, this is achieved by either designating a proportion of the hedging </span></div><div class=\"ps6940 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">instrument or by insuring that the hedge notional value is equal to or lower than the notional value of the </span></div><div class=\"ps2794 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">hedged item. The primary source of hedge ineffectiveness arises from the timing of vessel deliveries. The </span></div><div class=\"ps2795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">delivery of the vessel exposes the Group to multiple market risks, primarily foreign currency risks and </span></div><div class=\"ps2796 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">interest rate risk. The fair value changes of the hedging instruments are recognised in other comprehensive </span></div><div class=\"ps2797 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">income until the hedged items are recognised or realised. </span></div><div class=\"ps6924 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">The table below shows the movement in the reserve for cash flow for hedging, listed by the hedged risk.</span></div><div class=\"ps10471 ss0\"><div class=\"ss118 ws0 ps2924\"><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=\"ps37 ss744\"><div><div class=\"ps6200 ss743\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10590 ss324\"><div><div class=\"ps4288 ss287\"><span class=\"f charStyle-281247bf ps3871\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10591 ss324\"><div><div class=\"ps4288 ss287\"><span class=\"f charStyle-054ead99 ps3871\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10592 ss324\"><div><div class=\"ps4288 ss287\"><span class=\"f charStyle-054ead99 ps3871\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4293 ss745\"><div><div class=\"ps2702 ss743\"><span class=\"f charStyle-b07b4361 ps39\">Fair Value change of Cash flow hedges<span class=\"f ps40\"> </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=\"ps5195 ss745\"><div><div class=\"ps2702 ss743\"><span class=\"f charStyle-1bac868e ps630\">Cumulative fair value change at 1 January<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10594 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10593\">1,799</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10596 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.35pt\"></span></span><span class=\"ps10595\">(21,559)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10597 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10593\">1,343</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5204 ss745\"><div><div class=\"ps2702 ss743\"><span class=\"f charStyle-1bac868e ps630\">Fair value adjustment at year-end, net<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10598 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.2pt\"></span></span><span class=\"ps7394\">(5,003)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10600 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.77pt\"></span></span><span class=\"ps10599\">13,079</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10601 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.35pt\"></span></span><span class=\"ps10595\">(18,505)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5211 ss745\"><div><div class=\"ps2702 ss743\"><span class=\"f charStyle-1bac868e ps630\">Items recycled at year-end, net<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10602 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.2pt\"></span></span><span class=\"ps7394\">(2,582)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10603 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10593\">1,527</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10605 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31pt\"></span></span><span class=\"ps10604\">(776)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5220 ss745\"><div><div class=\"ps5193 ss743\"><span class=\"f charStyle-1bac868e ps630\">Transfer of cash flow hedge reserve to property, plant <span class=\"f ps40\"> </span></span></div><div class=\"ps5194 ss743\"><span class=\"f charStyle-1bac868e ps630\">and equipment</span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10606 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10593\">2,536</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10608 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10607\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10609 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10607\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5686 ss745\"><div><div class=\"ps2702 ss743\"><span class=\"f charStyle-1bac868e ps630\">Time value adjustment at year-end, net<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10610 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.2pt\"></span></span><span class=\"ps7394\">(5,708)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10611 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10593\">8,752</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10612 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.2pt\"></span></span><span class=\"ps7394\">(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=\"ps6305 ss745\"><div><div class=\"ps2702 ss743\"><span class=\"f charStyle-b07b4361 ps39\">Cumulative fair value change at 31 December<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10613 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.22pt\"></span></span><span class=\"ps7376\">(8,958)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10615 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.86pt\"></span></span><span class=\"ps10614\">1,799</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10617 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.05pt\"></span></span><span class=\"ps10616\">(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=\"ps6306 ss745\"><div><div class=\"ps5193 ss743\"><span class=\"f charStyle-b07b4361 ps39\">The fair value of cash flow hedges at 31 December <span class=\"f ps40\"> </span></span></div><div class=\"ps5194 ss743\"><span class=\"f charStyle-b07b4361 ps39\">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=\"ps9956 ss745\"><div><div class=\"ps2702 ss743\"><span class=\"f charStyle-1bac868e ps630\">Interest rate risk hedging<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10618 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.2pt\"></span></span><span class=\"ps7394\">(9,839)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10619 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.35pt\"></span></span><span class=\"ps10595\">(14,945)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10620 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.35pt\"></span></span><span class=\"ps10595\">(11,790)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps9960 ss745\"><div><div class=\"ps2702 ss743\"><span class=\"f charStyle-1bac868e ps630\">Foreign currency risk hedging<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10621 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10593\">1,457</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10622 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.77pt\"></span></span><span class=\"ps10599\">11,612</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10623 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.2pt\"></span></span><span class=\"ps7394\">(6,148)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps7503 ss745\"><div><div class=\"ps2702 ss743\"><span class=\"f charStyle-1bac868e ps630\">Foreign currency risk hedging - time value<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10624 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31pt\"></span></span><span class=\"ps10604\">(576)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10625 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10593\">5,132</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10626 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.2pt\"></span></span><span class=\"ps7394\">(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=\"ps9969 ss745\"><div><div class=\"ps2702 ss743\"><span class=\"f charStyle-b07b4361 ps39\">Cumulative fair value change at 31 December<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10627 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.22pt\"></span></span><span class=\"ps7376\">(8,958)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10628 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.86pt\"></span></span><span class=\"ps10614\">1,799</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10629 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.05pt\"></span></span><span class=\"ps10616\">(21,559)</span></span></div></div></div></td></tr></tbody></table></div></div></div></div><div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 24</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Derivative Financial Instruments<span id=\"ic9e76dfaee9e48d4a68be4041408486e\"></span></span></div><div class=\"ps6975 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-cd31f1a5 ps183\">Continued from previous page</span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Interest rate risk<span id=\"i295b7d3cae0a455994b5dd56fa5ae766\"></span></span></div><div class=\"ps369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group entered interest rate swap contracts with its main bank and designated these in relation to the </span></div><div class=\"ps370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Green Corporate Facility, P-class Facility and future loans to finance the purchase of the newbuild vessels. </span></div><div class=\"ps397 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Further details regarding the Group\u2019s current debt facilities related to interest rate swaps are provided in </span></div><div class=\"ps7437 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 25.</span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The interest rate risk arising from the loans has been partially hedged by swapping exposure from 3M </span></div><div class=\"ps374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">EURIBOR to a fixed interest rate. The credit facilities continue to expose the Group to changes in the 3M </span></div><div class=\"ps375 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">EURIBOR rate.</span></div><div class=\"ps10311 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The average fixed rate of the swaps is </span><span class=\"f charStyle-c1b8f9f6 ps10632\">2.83%</span><span class=\"f charStyle-c1b8f9f6 ps10633\"> (</span><span class=\"f charStyle-c1b8f9f6 ps10634\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10635\">: </span><span class=\"f charStyle-c1b8f9f6 ps10636\">2.78%</span><span class=\"f charStyle-c1b8f9f6 ps10637\">; </span><span class=\"f charStyle-c1b8f9f6 ps10638\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10639\">: </span><span class=\"f charStyle-c1b8f9f6 ps10640\">2.81%</span><span class=\"f charStyle-c1b8f9f6 ps10641\">). </span></div><div class=\"ps10312 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">A further portion of the exposure has been hedged through interest rate swap contracts with caps and </span></div><div class=\"ps7454 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">floors. The average fixed rate of the cap/floor swaps falls between </span><span class=\"f charStyle-c1b8f9f6 ps10642\">2.1%</span><span class=\"f charStyle-c1b8f9f6 ps10643\"> and </span><span class=\"f charStyle-c1b8f9f6 ps10644\">1.1%</span><span class=\"f charStyle-c1b8f9f6 ps10645\">.</span></div><div class=\"ps10646 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The economic relationship is established through a match of critical terms between the hedged item and </span></div><div class=\"ps8602 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the hedging instrument. The Group has assessed the following terms when entering into the hedge </span></div><div class=\"ps10647 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">relationship:</span></div><div class=\"ps10650 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps10648\">\u25e6<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps10649\">Instalments on the facilities.</span></div><div class=\"ps2445 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps10648\">\u25e6<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps10649\">Payment date of interest and instalment.</span></div><div class=\"ps2512 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps10648\">\u25e6<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps10649\">Timing difference in the maturity of the hedge item and hedge instrument.</span></div><div class=\"ps5000 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The expected causes of hedge ineffectiveness relate to:</span></div><div class=\"ps2870 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps10648\">\u25e6<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps10649\">Changes to the expected date of delivery of the vessels.</span></div><div class=\"ps4527 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps10648\">\u25e6<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps10649\">3M EURIBOR rate falling below </span><span class=\"f charStyle-c1b8f9f6 ps10651\">0%</span><span class=\"f charStyle-c1b8f9f6 ps10652\">.</span></div><div class=\"ps3625 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The table below shows the nominal amounts and the fair values of the interest rate swaps.</span></div><div class=\"ps7512 ss0\"><div class=\"ss176 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=\"ps10658 ss747\"><div><div class=\"ps5627 ss746\"><span class=\"f charStyle-054ead99 ps10657\">Fair Value EUR'000<span class=\"f ps40\"> </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=\"ps1987 ss748\"><div><div class=\"ps10659 ss93\"><span class=\"f charStyle-4979afbe ps39\">Notional amount EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10665 ss749\"><div><div class=\"ps5655 ss337\"><span class=\"f charStyle-281247bf ps10660\">Less <span class=\"f ps40\"> </span></span></div><div class=\"ps10662 ss337\"><span class=\"f charStyle-281247bf ps10661\">than 1 </span></div><div class=\"ps10664 ss337\"><span class=\"f charStyle-281247bf ps10663\">year</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10669 ss750\"><div><div class=\"ps5655 ss224\"><span class=\"f charStyle-281247bf ps10666\">Between <span class=\"f ps40\"> </span></span></div><div class=\"ps10662 ss224\"><span class=\"f charStyle-281247bf ps10667\">1 and 2 </span></div><div class=\"ps10664 ss224\"><span class=\"f charStyle-281247bf ps10668\">years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10670 ss750\"><div><div class=\"ps5655 ss224\"><span class=\"f charStyle-281247bf ps10666\">Between <span class=\"f ps40\"> </span></span></div><div class=\"ps10662 ss224\"><span class=\"f charStyle-281247bf ps10667\">2 and 5 </span></div><div class=\"ps10664 ss224\"><span class=\"f charStyle-281247bf ps10668\">years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10673 ss751\"><div><div class=\"ps10662 ss452\"><span class=\"f charStyle-281247bf ps10671\">More than <span class=\"f ps40\"> </span></span></div><div class=\"ps10664 ss452\"><span class=\"f charStyle-281247bf ps10672\">5 years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10675 ss752\"><div><div class=\"ps10664 ss161\"><span class=\"f charStyle-281247bf ps10674\">Asset<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10677 ss752\"><div><div class=\"ps10664 ss161\"><span class=\"f charStyle-281247bf ps10676\">Liability<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2074 ss753\"><div><div class=\"ps4441 ss93\"><span class=\"f charStyle-b07b4361 ps39\">2025<span class=\"f ps40\"> </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=\"ps10678 ss753\"><div><div class=\"ps4441 ss93\"><span class=\"f charStyle-48c03ae0 ps630\">IRS \u2013 EURIBOR 3M<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10680 ss754\"><div><div class=\"ps4441 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.72pt\"></span></span><span class=\"ps10679\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10681 ss609\"><div><div class=\"ps4441 ss224\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.17pt\"></span></span><span class=\"ps7637\">150,000</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10682 ss609\"><div><div class=\"ps4441 ss224\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.17pt\"></span></span><span class=\"ps7637\">576,703</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10684 ss755\"><div><div class=\"ps4441 ss452\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:14.67pt\"></span></span><span class=\"ps10683\">141,875</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10685 ss674\"><div><div class=\"ps4441 ss161\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:14.62pt\"></span></span><span class=\"ps8901\">2,172</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10687 ss674\"><div><div class=\"ps4441 ss161\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:4.35pt\"></span></span><span class=\"ps10686\">(10,499)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps7385 ss753\"><div><div class=\"ps4441 ss93\"><span class=\"f charStyle-b07b4361 ps39\">2024<span class=\"f ps40\"> </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=\"ps5680 ss753\"><div><div class=\"ps4441 ss93\"><span class=\"f charStyle-1bac868e ps630\">IRS \u2013 EURIBOR 3M<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10688 ss754\"><div><div class=\"ps4441 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.72pt\"></span></span><span class=\"ps10679\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10689 ss609\"><div><div class=\"ps4441 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.22pt\"></span></span><span class=\"ps7626\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10690 ss609\"><div><div class=\"ps4441 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.17pt\"></span></span><span class=\"ps7637\">355,117</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10691 ss755\"><div><div class=\"ps4441 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:14.67pt\"></span></span><span class=\"ps10683\">455,625</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10692 ss674\"><div><div class=\"ps4441 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:14.62pt\"></span></span><span class=\"ps8901\">1,286</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10693 ss674\"><div><div class=\"ps4441 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:4.35pt\"></span></span><span class=\"ps10686\">(16,231)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps6357 ss753\"><div><div class=\"ps4441 ss93\"><span class=\"f charStyle-b07b4361 ps39\">2023<span class=\"f ps40\"> </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=\"ps6305 ss753\"><div><div class=\"ps4441 ss93\"><span class=\"f charStyle-1bac868e ps630\">IRS \u2013 EURIBOR 3M<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10694 ss754\"><div><div class=\"ps4441 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.72pt\"></span></span><span class=\"ps10679\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10695 ss609\"><div><div class=\"ps4441 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.22pt\"></span></span><span class=\"ps7626\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10696 ss609\"><div><div class=\"ps4441 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.17pt\"></span></span><span class=\"ps7637\">555,000</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10698 ss755\"><div><div class=\"ps4441 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.72pt\"></span></span><span class=\"ps10697\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10699 ss674\"><div><div class=\"ps4441 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.97pt\"></span></span><span class=\"ps8913\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10700 ss674\"><div><div class=\"ps4441 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:4.35pt\"></span></span><span class=\"ps10686\">(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=\"ps691 ss756\"><div><div class=\"ps6278 ss93\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </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=\"ps10702 ss468\"><div><div class=\"ps5127 ss452\"><span class=\"f charStyle-281247bf ps4658\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10703 ss757\"><div><div class=\"ps5127 ss161\"><span class=\"f charStyle-054ead99 ps6379\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps4412 ss757\"><div><div class=\"ps5127 ss161\"><span class=\"f charStyle-054ead99 ps6379\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps3996 ss758\"><div><div class=\"ps5628 ss93\"><span class=\"f charStyle-b07b4361 ps39\">Movements in the hedging <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss93\"><span class=\"f charStyle-b07b4361 ps39\">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=\"ps2912 ss758\"><div><div class=\"ps5627 ss93\"><span class=\"f charStyle-1bac868e ps630\">Beginning of year<span class=\"f ps40\"> </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=\"ps10705 ss453\"><div><div class=\"ps5627 ss452\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:14.1pt\"></span></span><span class=\"ps10704\">(14,945)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10706 ss170\"><div><div class=\"ps5627 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:4.35pt\"></span></span><span class=\"ps10686\">(11,790)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10707 ss170\"><div><div class=\"ps5627 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:14.62pt\"></span></span><span class=\"ps8901\">3,163</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps802 ss758\"><div><div class=\"ps5628 ss93\"><span class=\"f charStyle-1bac868e ps630\">Fair value adjustment for <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss93\"><span class=\"f charStyle-1bac868e ps630\">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=\"ps10708 ss453\"><div><div class=\"ps5627 ss452\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.37pt\"></span></span><span class=\"ps7802\">5,864</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10709 ss170\"><div><div class=\"ps5627 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:9.2pt\"></span></span><span class=\"ps6825\">(3,265)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10710 ss170\"><div><div class=\"ps5627 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:4.35pt\"></span></span><span class=\"ps10686\">(14,177)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5764 ss758\"><div><div class=\"ps5627 ss93\"><span class=\"f charStyle-1bac868e ps630\">Ineffectiveness<span class=\"f ps40\"> </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=\"ps10712 ss453\"><div><div class=\"ps5627 ss452\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.95pt\"></span></span><span class=\"ps10711\">(1,511)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10713 ss170\"><div><div class=\"ps5627 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.97pt\"></span></span><span class=\"ps8913\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10714 ss170\"><div><div class=\"ps5627 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.97pt\"></span></span><span class=\"ps8913\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps4668 ss758\"><div><div class=\"ps5627 ss93\"><span class=\"f charStyle-1bac868e ps630\">Items recycled for the year<span class=\"f ps40\"> </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=\"ps10715 ss453\"><div><div class=\"ps5627 ss452\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7805\">753</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10716 ss170\"><div><div class=\"ps5627 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.42pt\"></span></span><span class=\"ps6798\">110</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10717 ss170\"><div><div class=\"ps5627 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16pt\"></span></span><span class=\"ps6827\">(776)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10718 ss758\"><div><div class=\"ps5627 ss93\"><span class=\"f charStyle-b07b4361 ps39\">End of year<span class=\"f ps40\"> </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=\"ps10720 ss453\"><div><div class=\"ps5627 ss452\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.97pt\"></span></span><span class=\"ps10719\">(9,839)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10722 ss170\"><div><div class=\"ps5627 ss161\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:1.05pt\"></span></span><span class=\"ps10721\">(14,945)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10723 ss170\"><div><div class=\"ps5627 ss161\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:1.05pt\"></span></span><span class=\"ps10721\">(11,790)</span></span></div></div></div></td></tr></tbody></table></div></div></div></div><div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 24</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Derivative Financial Instruments<span id=\"ib83ffc4b72884d779827fa5af95e1ce2\"></span></span></div><div class=\"ps6975 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-cd31f1a5 ps183\">Continued from previous page</span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Foreign currency risk hedging<span id=\"i54edb84666704c6887debf34649e5c53\"></span></span></div><div class=\"ps369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">As a result of the contracts signed with COSCO and Hanwha for the construction of the newbuild vessels, </span></div><div class=\"ps370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the Group is exposed to foreign exchange risk, as instalment payments are denominated in USD, while the </span></div><div class=\"ps397 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">functional currency is </span><span class=\"f charStyle-c1b8f9f6 ps10724\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10725\">. The final instalments are payable upon delivery of the vessels. </span></div><div class=\"ps372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The currency exposure arising from these contracts has been swapped into </span><span class=\"f charStyle-c1b8f9f6 ps10726\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10727\"> at an average USD:</span><span class=\"f charStyle-c1b8f9f6 ps10728\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10729\"> rate </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">of </span><span class=\"f charStyle-c1b8f9f6 ps10242\">0.8586</span><span class=\"f charStyle-c1b8f9f6 ps10730\"> (</span><span class=\"f charStyle-c1b8f9f6 ps10731\">0.9107</span><span class=\"f charStyle-c1b8f9f6 ps10732\"> for </span><span class=\"f charStyle-c1b8f9f6 ps10733\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10734\"> and </span><span class=\"f charStyle-c1b8f9f6 ps10735\">0.9187</span><span class=\"f charStyle-c1b8f9f6 ps10736\"> for </span><span class=\"f charStyle-c1b8f9f6 ps10737\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10738\">). </span></div><div class=\"ps10741 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">A further portion of the exposure to fluctuations in future exchange rates has been hedged through </span><span class=\"f charStyle-c1b8f9f6 ps10739\">zero</span><span class=\"f charStyle-c1b8f9f6 ps10740\">-</span></div><div class=\"ps10310 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">cost collar contracts, securing an average USD:</span><span class=\"f charStyle-c1b8f9f6 ps10742\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10743\"> rate ranging between </span><span class=\"f charStyle-c1b8f9f6 ps10744\">0.8607</span><span class=\"f charStyle-c1b8f9f6 ps7940\"> and </span><span class=\"f charStyle-c1b8f9f6 ps10745\">0.9092</span><span class=\"f charStyle-c1b8f9f6 ps10746\">. As of </span></div><div class=\"ps10311 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps8029\">, the total coverage effectively mitigates approximately </span><span class=\"f charStyle-c1b8f9f6 ps10747\">42%</span><span class=\"f charStyle-c1b8f9f6 ps10748\"> on average of the Group\u2019s </span></div><div class=\"ps377 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">foreign exchange risk related to future USD denominated instalments under the A-class vessel contracts.</span></div><div class=\"ps7454 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The economic relationship is established through a match of critical terms between the hedge item and </span></div><div class=\"ps7455 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">hedge instrument. The Group has assessed the following terms when entering into the hedge relationship:</span></div><div class=\"ps8602 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps10648\">\u25e6<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps10649\">Payment dates of instalments in foreign currency.</span></div><div class=\"ps10749 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps10648\">\u25e6<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps10649\">Maturity of the hedged item and hedged instruments (forward contract and option </span></div><div class=\"ps10650 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps10649\">collars).</span></div><div class=\"ps2445 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The expected causes of hedging ineffectiveness primarily relate to changes in the expected delivery dates of </span></div><div class=\"ps2446 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the vessel. The table below presents the nominal amounts and fair values of the foreign currency forward </span></div><div class=\"ps2447 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">contracts and option collars.</span></div><div class=\"ps7512 ss0\"><div class=\"ss176 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=\"ps7836 ss760\"><div><div class=\"ps5127 ss730\"><span class=\"f charStyle-054ead99 ps10751\">Fair Value EUR'000<span class=\"f ps40\"> </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=\"ps4698 ss761\"><div><div class=\"ps8191 ss759\"><span class=\"f charStyle-4979afbe ps39\">Notational amount USD'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10752 ss446\"><div><div class=\"ps5628 ss147\"><span class=\"f charStyle-281247bf ps10378\">Less than 1 <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss147\"><span class=\"f charStyle-281247bf ps10379\">year</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10753 ss446\"><div><div class=\"ps5628 ss147\"><span class=\"f charStyle-281247bf ps10381\">Between 1 <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss147\"><span class=\"f charStyle-281247bf ps10382\">and 2 years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10754 ss446\"><div><div class=\"ps5628 ss147\"><span class=\"f charStyle-281247bf ps10381\">Between 2 <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss147\"><span class=\"f charStyle-281247bf ps10382\">and 5 years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10756 ss762\"><div><div class=\"ps5627 ss378\"><span class=\"f charStyle-281247bf ps10755\">Asset<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10758 ss762\"><div><div class=\"ps5627 ss378\"><span class=\"f charStyle-281247bf ps10757\">Liability<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5644 ss763\"><div><div class=\"ps5127 ss759\"><span class=\"f charStyle-b07b4361 ps39\">2025<span class=\"f ps40\"> </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=\"ps3743 ss763\"><div><div class=\"ps5127 ss759\"><span class=\"f charStyle-48c03ae0 ps630\">FX forward contracts<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10759 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">162,295</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10760 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">48,800</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10761 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10762 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8222\">511</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10764 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.72pt\"></span></span><span class=\"ps10763\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"background-color:#206079;padding:0\"><div class=\"ps49 ss763\"><div><div class=\"ps5127 ss759\"><span class=\"f charStyle-48c03ae0 ps630\">Option collars<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10765 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">159,875</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps6867 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">48,800</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps50 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10766 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.72pt\"></span></span><span class=\"ps10763\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10767 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.75pt\"></span></span><span class=\"ps8357\">(576)</span></span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"padding:0\"><div class=\"ps6518 ss763\"><div><div class=\"ps5127 ss759\"><span class=\"f charStyle-b07b4361 ps39\">2024<span class=\"f ps40\"> </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=\"ps5211 ss763\"><div><div class=\"ps5127 ss759\"><span class=\"f charStyle-1bac868e ps630\">FX forward contracts<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10768 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">104,545</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10769 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">55,398</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10770 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10771 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.37pt\"></span></span><span class=\"ps8206\">6,849</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10772 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.72pt\"></span></span><span class=\"ps10763\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"padding:0\"><div class=\"ps5532 ss763\"><div><div class=\"ps5127 ss759\"><span class=\"f charStyle-1bac868e ps630\">Option collars<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10773 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">300,000</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10774 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">100,000</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10775 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7855 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.52pt\"></span></span><span class=\"ps10776\">10,104</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10777 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.75pt\"></span></span><span class=\"ps8357\">(209)</span></span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"padding:0\"><div class=\"ps2310 ss763\"><div><div class=\"ps5127 ss759\"><span class=\"f charStyle-b07b4361 ps39\">2023<span class=\"f ps40\"> </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=\"ps2278 ss763\"><div><div class=\"ps5127 ss759\"><span class=\"f charStyle-1bac868e ps630\">FX forward contracts<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10778 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">150,000</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10779 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">50,000</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10780 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10781 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.72pt\"></span></span><span class=\"ps10763\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10783 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.95pt\"></span></span><span class=\"ps10782\">(5,338)</span></span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"padding:0\"><div class=\"ps2095 ss763\"><div><div class=\"ps5127 ss759\"><span class=\"f charStyle-1bac868e ps630\">Option collars<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10784 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10785 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">250,000</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10786 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">50,000</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10787 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.72pt\"></span></span><span class=\"ps10763\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10788 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.95pt\"></span></span><span class=\"ps10782\">(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=\"ps10789 ss763\"><div><div class=\"ps6278 ss759\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </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=\"ps10790 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-281247bf ps6086\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10792 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-054ead99 ps10791\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10793 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-054ead99 ps10791\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7409 ss761\"><div><div class=\"ps5628 ss759\"><span class=\"f charStyle-b07b4361 ps39\">Movements in the hedging <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss759\"><span class=\"f charStyle-b07b4361 ps39\">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=\"ps2228 ss763\"><div><div class=\"ps5127 ss759\"><span class=\"f charStyle-1bac868e ps630\">Beginning of year<span class=\"f ps40\"> </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=\"ps10794 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">16,744</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10795 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.95pt\"></span></span><span class=\"ps10782\">(9,769)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10796 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.95pt\"></span></span><span class=\"ps10782\">(1,820)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps6007 ss761\"><div><div class=\"ps5628 ss759\"><span class=\"f charStyle-1bac868e ps630\">Fair value adjustment for the <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss759\"><span class=\"f charStyle-1bac868e ps630\">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=\"ps10797 ss446\"><div><div class=\"ps5627 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10483\">(6,103)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10798 ss762\"><div><div class=\"ps5627 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.52pt\"></span></span><span class=\"ps10776\">10,771</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10799 ss762\"><div><div class=\"ps5627 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.95pt\"></span></span><span class=\"ps10782\">(3,518)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5557 ss761\"><div><div class=\"ps5628 ss759\"><span class=\"f charStyle-1bac868e ps630\">Fair value adjustment for the <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss759\"><span class=\"f charStyle-1bac868e ps630\">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=\"ps10800 ss446\"><div><div class=\"ps5627 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10483\">(4,764)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10801 ss762\"><div><div class=\"ps5627 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.37pt\"></span></span><span class=\"ps8206\">5,573</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10802 ss762\"><div><div class=\"ps5627 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.75pt\"></span></span><span class=\"ps8357\">(810)</span></span></div></div></div></td></tr><tr style=\"height:36.75pt\"><td style=\"padding:0\"><div class=\"ps6455 ss765\"><div><div class=\"ps5655 ss759\"><span class=\"f charStyle-1bac868e ps630\">Transfer of cash flow hedge <span class=\"f ps40\"> </span></span></div><div class=\"ps10662 ss759\"><span class=\"f charStyle-1bac868e ps630\">reserve to property, plant and </span></div><div class=\"ps10664 ss759\"><span class=\"f charStyle-1bac868e ps630\">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=\"ps10803 ss766\"><div><div class=\"ps10664 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">2,536</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10804 ss767\"><div><div class=\"ps10664 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.72pt\"></span></span><span class=\"ps10763\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10805 ss767\"><div><div class=\"ps10664 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.72pt\"></span></span><span class=\"ps10763\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"padding:0\"><div class=\"ps10806 ss763\"><div><div class=\"ps5127 ss759\"><span class=\"f charStyle-1bac868e ps630\">Items recycled for the year<span class=\"f ps40\"> </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=\"ps10807 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10483\">(1,824)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10808 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.37pt\"></span></span><span class=\"ps8206\">1,417</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10809 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.72pt\"></span></span><span class=\"ps10763\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps10810 ss761\"><div><div class=\"ps5628 ss759\"><span class=\"f charStyle-1bac868e ps630\">Time value adjustment for the <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss759\"><span class=\"f charStyle-1bac868e ps630\">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=\"ps10811 ss446\"><div><div class=\"ps5627 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10483\">(5,708)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10812 ss762\"><div><div class=\"ps5627 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.37pt\"></span></span><span class=\"ps8206\">8,752</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10813 ss762\"><div><div class=\"ps5627 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.95pt\"></span></span><span class=\"ps10782\">(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=\"ps4051 ss763\"><div><div class=\"ps5127 ss759\"><span class=\"f charStyle-b07b4361 ps39\">End of year<span class=\"f ps40\"> </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=\"ps10815 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.71pt\"></span></span><span class=\"ps10814\">881</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10817 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:14.44pt\"></span></span><span class=\"ps10816\">16,744</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps4052 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:12.97pt\"></span></span><span class=\"ps10818\">(9,769)</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 ps183\">Note 24</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Derivative Financial Instruments<span id=\"i1d7bc608ee4c476c9c2e8e573fa532ae\"></span></span></div><div class=\"ps6975 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-cd31f1a5 ps183\">Continued from previous page</span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies<span id=\"ic09a383af8ab4b488bf22a7990e12a85\"></span></span></div><div class=\"ps369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Derivative financial instruments are initially recognised at fair value on the date the derivative contract is </span></div><div class=\"ps370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">entered into and are subsequently remeasured at fair value through profit and loss. Derivatives are carried </span></div><div class=\"ps397 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">as financial assets, presented as derivative assets, when the fair value is positive and as financial liabilities, </span></div><div class=\"ps7437 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">presented as derivative liabilities, when the fair value is negative.</span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">At the inception of a hedge relationship, the Group formally designates and documents the hedge </span></div><div class=\"ps374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">relationship, including the risk management objective and strategy for undertaking the hedge.</span></div><div class=\"ps10310 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Changes in the fair value of derivative financial instruments designated as cash flow hedges are recognised </span></div><div class=\"ps10311 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">in other comprehensive income and presented under \u201cHedging reserves\u201d (equity). Where the expected </span></div><div class=\"ps377 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">future transactions result in the acquisition of non-financial assets, amounts deferred in equity are </span></div><div class=\"ps378 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">transferred from equity and included in the cost of the asset. Where expected future transactions result in </span></div><div class=\"ps379 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">income or expenses, amounts deferred under in equity are transferred from equity to the statement of </span></div><div class=\"ps380 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">profit and loss, in the same item as the hedged transaction, as a reclassification adjustment. In addition, the </span></div><div class=\"ps381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">entity may transfer the cumulative fair value changes recognised in equity upon derecognition of the </span></div><div class=\"ps400 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">hedged item. </span></div><div class=\"ps383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Changes in the fair value of derivative financial instruments not designated as hedges are recognised in the </span></div><div class=\"ps401 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">statement of profit and loss. Certain borrowing facilities when undrawn do not qualify for hedge </span></div><div class=\"ps402 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">accounting. Changes in the fair value of these derivative financial instruments are therefore recognised in </span></div><div class=\"ps403 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the statement of profit and loss under \u201cFinancial income\u201d or \u201cFinancial expenses\u201d for interest rate swaps. </span></div><div class=\"ps387 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The amount included in the hedging reserve is the lower, in absolute terms, of the cumulative fair value </span></div><div class=\"ps388 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">adjustment of the hedging instrument and the hedged item. Hedge ineffectiveness is recognised in the </span></div><div class=\"ps405 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">consolidated statement of profit and loss. Cost of hedging reserves include the time value of options. </span></div><div class=\"ps406 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">These costs are recognised separately in Other Comprehensive Income (OCI) and are amortised over the </span></div><div class=\"ps407 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">life of the hedging instrument, in accordance with the specific hedging relationship. If the hedge is </span></div><div class=\"ps408 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">discontinued, any unamortised cost of hedging is recognised immediately in profit or loss.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-586": {
   "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 ps183\">Note 23 </span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Financial Risk Management<span id=\"i142e22eeb6ee4b569d62063b36a5336c\"></span></span></div><div class=\"ps10190 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Financial risk factors<span id=\"i92fef17d2ba64690b5da89bc24666508\"></span></span></div><div class=\"ps10191 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group\u2019s activities expose it to market risk, including currency risk and interest rate risk, as well as credit </span></div><div class=\"ps10192 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">risk and liquidity risk.</span></div><div class=\"ps7010 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The financial risk management of the Group is performed by the Management of Cadeler and overseen by </span></div><div class=\"ps7011 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the Board of Directors and Audit Committee. The fair value of the Group's financial assets and liabilities as of </span></div><div class=\"ps3194 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps8029\"> does not deviate materially from the carrying amounts as of </span><span class=\"f charStyle-c1b8f9f6 ps10193\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10194\">.</span></div><div class=\"ps7048 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-1819d385 ps183\">Quantitative and qualitative disclosures about market risk<span id=\"iea4977ea99a24a699f8a60be68581ddb\"></span></span></div><div class=\"ps10195 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Currency risk<span id=\"i172af3f680244f5d8fd11575933bbbc8\"></span></span></div><div class=\"ps10196 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group\u2019s business is exposed to the Danish Kroner (\u201cDKK\u201d), Norwegian Kroner (\u201cNOK\u201d), British Pound </span></div><div class=\"ps10197 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Sterling (\u201cGBP\u201d), United States Dollar (\u201cUSD\u201d), New Taiwan Dollar (\u201cTWD\u201d), and Japanese Yen (\u201cJPY\u201d), as </span></div><div class=\"ps10198 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">certain operating expenses are denominated in these currencies. The Company seeks to use financial </span></div><div class=\"ps7053 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">instruments to reduce currency risk when there is significant exposure to income or liabilities denominated </span></div><div class=\"ps7054 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">in currencies other than EUR or DKK, and where a cost-effective solution is available.</span></div><div class=\"ps10201 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-296ed202 ps183\">The functional currency of Cadeler A/S is </span><span class=\"f charStyle-296ed202 ps10199\">EUR</span><span class=\"f charStyle-296ed202 ps10200\">, while the largest currency exposure of the Group relates to </span></div><div class=\"ps10205 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-296ed202 ps183\">future instalments for newbuild vessels, denominated in USD, amounting to </span><span class=\"f charStyle-296ed202 ps10202\">USD </span><span class=\"f charStyle-296ed202 ps10203\">496\u00a0million</span><span class=\"f charStyle-296ed202 ps10204\">. Further details </span></div><div class=\"ps10206 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-296ed202 ps183\">regarding the instruments currently used to mitigate this currency risk are provided in Note 24. Management </span></div><div class=\"ps10207 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-296ed202 ps183\">and the Board of Directors evaluate the potential costs and benefits of currency exposure on an ongoing basis.</span></div><div class=\"ps10211 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">T</span><span class=\"f charStyle-c1b8f9f6 ps8964\">he Group holds cash balances in USD. If the USD:</span><span class=\"f charStyle-c1b8f9f6 ps1124\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10208\"> exchange rate were to deteriorate by </span><span class=\"f charStyle-c1b8f9f6 ps10209\">10%</span><span class=\"f charStyle-c1b8f9f6 ps10210\"> the result </span></div><div class=\"ps10227 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">before tax would have decreased by </span><span class=\"f charStyle-c1b8f9f6 ps10212\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10213\"> </span><span class=\"f charStyle-c1b8f9f6 ps10214\">1.6</span><span class=\"f charStyle-c1b8f9f6 ps10215\"> million (</span><span class=\"f charStyle-c1b8f9f6 ps10216\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7352\">: </span><span class=\"f charStyle-c1b8f9f6 ps10217\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10218\"> </span><span class=\"f charStyle-c1b8f9f6 ps10219\">1.8\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10220\">; </span><span class=\"f charStyle-c1b8f9f6 ps10221\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10222\">: </span><span class=\"f charStyle-c1b8f9f6 ps10223\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10224\"> </span><span class=\"f charStyle-c1b8f9f6 ps10225\">4.6\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10226\">), based on </span></div><div class=\"ps3208 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">USD cash holdings as of </span><span class=\"f charStyle-c1b8f9f6 ps10228\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10229\">.</span></div><div class=\"ps3281 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group holds cash balances in GBP. If the GBP:</span><span class=\"f charStyle-c1b8f9f6 ps10230\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10231\"> exchange rate were to deteriorate by </span><span class=\"f charStyle-c1b8f9f6 ps10232\">10%</span><span class=\"f charStyle-c1b8f9f6 ps10233\"> the result </span></div><div class=\"ps3282 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">before tax would have decreased by </span><span class=\"f charStyle-c1b8f9f6 ps10212\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10213\"> </span><span class=\"f charStyle-c1b8f9f6 ps10214\">0.4</span><span class=\"f charStyle-c1b8f9f6 ps10234\"> </span><span class=\"f charStyle-c1b8f9f6 ps10235\">million (</span><span class=\"f charStyle-c1b8f9f6 ps10236\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10237\">: </span><span class=\"f charStyle-c1b8f9f6 ps10238\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10239\"> </span><span class=\"f charStyle-c1b8f9f6 ps10240\">0.7\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10241\">) based on GBP cash holdings as </span></div><div class=\"ps3283 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">of </span><span class=\"f charStyle-c1b8f9f6 ps10242\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10243\">.</span></div><div class=\"ps2697 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-616c3f6a ps183\">As the DKK is pegged to the </span><span class=\"f charStyle-616c3f6a ps10244\">EUR</span><span class=\"f charStyle-616c3f6a ps10245\">, no material currency risk has been identified in relation to the DKK, despite the </span></div><div class=\"ps2698 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-616c3f6a ps183\">Cadeler Group incurring costs denominated in DKK. As of </span><span class=\"f charStyle-616c3f6a ps10246\">31\u00a0December 2025</span><span class=\"f charStyle-616c3f6a ps10247\">, the Cadeler Group did not hold any </span></div><div class=\"ps2699 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-616c3f6a ps183\">material cash balances denominated in NOK, JPY, or TWD.</span></div><div class=\"ps10248 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Currency risk associated with other financial instruments denominated in foriegn currencies is limited and </span></div><div class=\"ps10249 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">therefore excluded from this analysis. </span></div><div class=\"ps10190 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Interest rate risk<span id=\"i4a97714972f94b6d96c9ce5a4f4eb971\"></span></span></div><div class=\"ps10191 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The Group\u2019s current exposure to the risk of changes in market interest rates relates primarily to the Green </span></div><div class=\"ps10192 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Corporate Facility, the P-class Facility, M-class Facility and Holdco Facility. Further details regarding the </span></div><div class=\"ps7752 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">hedging instruments used to mitigate this risk are provided in Note 24.</span></div><div class=\"ps7011 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The Green Corporate Facility and Holdco Facility are based on a EURIBOR 3M interest rate plus a margin. </span></div><div class=\"ps3194 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The EURIBOR interest rate has a floor of </span><span class=\"f charStyle-c1b8f9f6 ps10250\">0</span><span class=\"f charStyle-c1b8f9f6 ps10251\">bps and was </span><span class=\"f charStyle-c1b8f9f6 ps10252\">2.1%</span><span class=\"f charStyle-c1b8f9f6 ps10253\">, </span><span class=\"f charStyle-c1b8f9f6 ps10254\">2.9%</span><span class=\"f charStyle-c1b8f9f6 ps10255\"> and </span><span class=\"f charStyle-c1b8f9f6 ps10256\">3.9%</span><span class=\"f charStyle-c1b8f9f6 ps10257\"> at the end of </span><span class=\"f charStyle-c1b8f9f6 ps10258\">2025</span><span class=\"f charStyle-c1b8f9f6 ps10259\">, </span><span class=\"f charStyle-c1b8f9f6 ps10260\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10261\"> and </span></div><div class=\"ps7012 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10262\">, respectively. </span></div><div class=\"ps7754 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">If the EURIBOR interest rate increased </span><span class=\"f charStyle-c1b8f9f6 ps10263\">100bps</span><span class=\"f charStyle-c1b8f9f6 ps10264\">, and the loans had been provided throughout the entire </span><span class=\"f charStyle-c1b8f9f6 ps10265\">2025</span><span class=\"f charStyle-c1b8f9f6 ps10266\"> </span></div><div class=\"ps7755 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">reporting period, interest costs would have increased by </span><span class=\"f charStyle-c1b8f9f6 ps10267\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10268\"> </span><span class=\"f charStyle-c1b8f9f6 ps10269\">15.6 million</span><span class=\"f charStyle-c1b8f9f6 ps10270\"> (</span><span class=\"f charStyle-c1b8f9f6 ps10271\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10272\">: </span><span class=\"f charStyle-c1b8f9f6 ps10273\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10274\"> </span><span class=\"f charStyle-c1b8f9f6 ps10275\">5.9\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10276\">; </span><span class=\"f charStyle-c1b8f9f6 ps10277\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10278\">: </span><span class=\"f charStyle-c1b8f9f6 ps10279\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10280\"> </span></div><div class=\"ps10282 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">2.1\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10281\">). Such an increase could potentially qualify as capitalisable borrowing costs, thereby mitigating </span></div><div class=\"ps7016 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">the impact on the result before tax. Conversely, if the interest rates were to decrease, the result before tax </span></div><div class=\"ps7017 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">would not be materially affected due to the capitalisation of borrowing costs.</span></div><div class=\"ps10283 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Management and the Board of Directors evaluate the potential costs and benefits of fixed interest rate </span></div><div class=\"ps10285 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">borrowing</span><span class=\"f charStyle-c1b8f9f6 ps10284\">s on an ongoing basis.</span></div></div><div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 23</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Financial Risk Management<span id=\"i1e193def17d24193b9e84315bb689546\"></span></span></div><div class=\"ps6975 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-cd31f1a5 ps183\">Continued from previous page</span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Credit risk<span id=\"if679800039c74b1ea6ede098b4004e4b\"></span></span></div><div class=\"ps8676 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Risk management<span id=\"ic761a30e8a4046648de8eb72c1862126\"></span></span></div><div class=\"ps8677 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in </span></div><div class=\"ps8678 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">financial loss to the Group. The Group adopts the following policies to mitigate credit risk.</span></div><div class=\"ps10286 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">For banks and financial institutions, the Group mitigates its credit risks by transacting only with </span></div><div class=\"ps10287 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">counterparties rated \u201cA\u201d or above by independent rating agencies.</span></div><div class=\"ps3362 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group adopts a policy of dealing only with customers with an appropriate credit history and obtaining </span></div><div class=\"ps3363 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">sufficient security where appropriate, to mitigate credit risk. The Group applies stringent procedures for </span></div><div class=\"ps3364 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">extending credit terms to customers and for the ongoing monitoring of credit risk.</span></div><div class=\"ps4562 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">These credit terms are normally contractual, and credit policies clearly define the guidelines for extending </span></div><div class=\"ps3366 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">credit to customers, including monitoring processes and reference to relevant industry practices. This </span></div><div class=\"ps9644 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">includes the assessment and evaluation of customers\u2019 creditworthiness and periodic reviews of their </span></div><div class=\"ps9645 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">financial status to determine the credit limits. Customers are also assessed based on their historical </span></div><div class=\"ps10288 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">payment behaviour. Where necessary, customers may be required to provide security or advance payments </span></div><div class=\"ps10289 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">before services are rendered.</span></div><div class=\"ps10290 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Related party credit risk is managed by the Executive Management of Cadeler and overseen by the Board </span></div><div class=\"ps10291 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">of Directors.</span></div><div class=\"ps4572 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The maximum exposure to credit risk is the carrying amount of trade receivables and other receivables, </span></div><div class=\"ps4573 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">receivables from group entities and cash and bank balances presented in the statement of financial </span></div><div class=\"ps4575 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">position.</span></div><div class=\"ps8676 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps2477\">Impairment of financial assets<span id=\"i3b70c7b829894e87a71fb465e6fd3d12\"></span></span></div><div class=\"ps8677 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">The Group assesses on a forward-looking basis the expected credit losses (ECLs) associated with its </span></div><div class=\"ps8678 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">financial assets which include trade and other receivables, cash and bank balances and contract assets. </span></div><div class=\"ps8679 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">Financial assets are written off when there is no reasonable expectation of recovery, such as when a non-</span></div><div class=\"ps8680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">related debtor fails to engage in a repayment plan with the Group.</span></div><div class=\"ps8681 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">Where receivables have been written off, the Group continues to pursue enforcement activities in an </span></div><div class=\"ps8682 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">attempt to recover amounts due. Where recoveries are made, these are recognised in profit or loss. As of </span></div><div class=\"ps8683 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">the reporting date, no receivables have been written off.</span></div><div class=\"ps3365 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">The Group has applied the simplified credit loss approach by using a provision matrix to measure the </span></div><div class=\"ps3200 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">lifetime expected credit losses for trade receivables from customers. To measure expected credit losses, the </span></div><div class=\"ps8685 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">Group groups receivables based on shared credit characteristics and days past due.</span></div><div class=\"ps9645 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">Trade receivables from external customers that are neither past due nor impaired are with creditworthy </span></div><div class=\"ps10288 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">counterparties. Based on the provision matrix, trade receivables from external customers are subject to </span></div><div class=\"ps10289 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">immaterial credit loss. For further analysis, refer to Note 16 for details on expected credit losses on trade </span></div><div class=\"ps10292 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">receivables and contract assets.</span></div><div class=\"ps10291 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">For cash and bank balances and other receivables measured at amortised cost, the Group considers these </span></div><div class=\"ps10293 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">financial assets to have low credit risk. Cash and bank balances mainly comprise deposits with banks that </span></div><div class=\"ps8704 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">have high credit ratings, as determined by international credit rating agencies. As of </span><span class=\"f charStyle-c1b8f9f6 ps10294\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10295\">, </span></div><div class=\"ps10298 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">cash and bank balances and other receivables are subject to immaterial credit loss. There is </span><span class=\"f charStyle-c1b8f9f6 ps10296\">no</span><span class=\"f charStyle-c1b8f9f6 ps10297\"> credit loss </span></div><div class=\"ps10305 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">allowance for other financial assets measured at amortised cost as of </span><span class=\"f charStyle-c1b8f9f6 ps10299\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10300\">, </span><span class=\"f charStyle-c1b8f9f6 ps10301\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10302\"> and </span><span class=\"f charStyle-c1b8f9f6 ps10303\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10304\">.</span></div></div><div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 23</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Financial Risk Management<span id=\"ic9729b39f0e14481a414ee16120ab3d1\"></span></span></div><div class=\"ps6975 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-cd31f1a5 ps183\">Continued from previous page</span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Liquidity risk<span id=\"idfe3fde434fa473fb4f013dfa8994309\"></span></span></div><div class=\"ps369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group manages liquidity risk by maintaining sufficient cash and access to funding through committed </span></div><div class=\"ps370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">credit facilities to enabling it to meet its operational requirements and instalments payments for the </span></div><div class=\"ps397 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">contracted newbuild vessels. </span></div><div class=\"ps372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The management of the Cadeler Group anticipates seeking additional debt financing in connection with </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">milestone payments related to the delivery of the third A-class newbuild vessel. For further details, please </span></div><div class=\"ps374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">refer to </span><span class=\"f charStyle-c1b8f9f6 ps10307\">Note 25,</span><span class=\"f charStyle-c1b8f9f6 ps10308\"> which provides a detailed disclosure of the Group\u2019s existing credit</span><span class=\"f charStyle-c1b8f9f6 ps10309\"> facilities. </span></div><div class=\"ps10310 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The following maturity table shows the contractual obligation relating to the construction of the newbuilds </span></div><div class=\"ps10311 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">vessels.</span></div><div class=\"ps7512 ss0\"><div class=\"ss193 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=\"ps37 ss733\"><div><div class=\"ps8191 ss732\"><span class=\"f charStyle-4979afbe ps39\">EUR Millions<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10315 ss734\"><div><div class=\"ps5628 ss203\"><span class=\"f charStyle-281247bf ps10313\">Less than 1 <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss203\"><span class=\"f charStyle-281247bf ps10314\">year</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10318 ss734\"><div><div class=\"ps5628 ss203\"><span class=\"f charStyle-281247bf ps10316\">Between 1 <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss203\"><span class=\"f charStyle-281247bf ps10317\">and 2 years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10319 ss734\"><div><div class=\"ps5628 ss203\"><span class=\"f charStyle-281247bf ps10316\">Between 2 <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss203\"><span class=\"f charStyle-281247bf ps10317\">and 5 years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2253 ss734\"><div><div class=\"ps5627 ss203\"><span class=\"f charStyle-281247bf ps10320\">Total<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps1987 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-b07b4361 ps39\">2025<span class=\"f ps40\"> </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=\"ps6218 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in USD<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10322 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">301</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10323 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">195</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10325 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.97pt\"></span></span><span class=\"ps10324\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10326 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">496</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"padding:0\"><div class=\"ps5518 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in USD (in EUR)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10327 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">256</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10328 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">166</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10329 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.97pt\"></span></span><span class=\"ps10324\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10330 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">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=\"ps767 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in EUR<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10331 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">40</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10332 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.97pt\"></span></span><span class=\"ps10324\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10333 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.97pt\"></span></span><span class=\"ps10324\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10334 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">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=\"ps2892 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-23b55a92 ps39\">Total obligations (in EUR)<span class=\"f ps40\"> </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=\"ps10336 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">296</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=\"ps10337 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">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=\"ps10338 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.97pt\"></span></span><span class=\"ps10324\">\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=\"ps10339 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">462</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2210 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-b07b4361 ps39\">2024<span class=\"f ps40\"> </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=\"ps5593 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in USD<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10340 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">651</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10341 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">496</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10342 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">195</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10344 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.62pt\"></span></span><span class=\"ps10343\">1,342</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"padding:0\"><div class=\"ps9509 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in USD (in EUR)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10345 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">626</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10346 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">476</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10347 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">188</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10348 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.62pt\"></span></span><span class=\"ps10343\">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=\"ps6438 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in EUR<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10349 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">65</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10350 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">40</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10351 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.97pt\"></span></span><span class=\"ps10324\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10352 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">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=\"ps5551 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-23b55a92 ps39\">Total obligations (in EUR)<span class=\"f ps40\"> </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=\"ps10353 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">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=\"ps10354 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">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=\"ps10355 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">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=\"ps10357 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.86pt\"></span></span><span class=\"ps10356\">1,395</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2912 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-b07b4361 ps39\">2023<span class=\"f ps40\"> </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=\"ps10358 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in USD<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10359 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">328</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10360 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">833</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10361 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">180</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10362 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.62pt\"></span></span><span class=\"ps10343\">1,341</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"padding:0\"><div class=\"ps3787 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in USD (in EUR)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10363 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">296</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10364 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">752</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10365 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">163</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10366 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.62pt\"></span></span><span class=\"ps10343\">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=\"ps9283 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in EUR<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10367 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">69</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10368 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">99</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10370 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.12pt\"></span></span><span class=\"ps10369\">6</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10371 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">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=\"ps6468 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-23b55a92 ps39\">Total obligations (in EUR)<span class=\"f ps40\"> </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=\"ps10372 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">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=\"ps10373 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">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=\"ps10374 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">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=\"ps10375 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.86pt\"></span></span><span class=\"ps10356\">1,385</span></span></div></div></div></td></tr></tbody></table></div></div></div></div><div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 23</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Financial Risk Management<span id=\"i3602c1eed0a140c582bca32b019edcd7\"></span></span></div><div class=\"ps6975 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-cd31f1a5 ps183\">Continued from previous page</span></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The table below analyses the maturity profile of the Company\u2019s financial liabilities based on contractual-</span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">undiscounted cash flows, excluding payments relating to newbuild vessels.</span></div><div class=\"ps10471 ss0\"><div class=\"ss176 ws0 ps67\"><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=\"ps37 ss737\"><div><div class=\"ps10377 ss361\"><span class=\"f charStyle-4979afbe ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10380 ss738\"><div><div class=\"ps7489 ss147\"><span class=\"f charStyle-281247bf ps10378\">Less than 1 <span class=\"f ps40\"> </span></span></div><div class=\"ps7490 ss147\"><span class=\"f charStyle-281247bf ps10379\">year</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7532 ss738\"><div><div class=\"ps7489 ss147\"><span class=\"f charStyle-281247bf ps10381\">Between 1 <span class=\"f ps40\"> </span></span></div><div class=\"ps7490 ss147\"><span class=\"f charStyle-281247bf ps10382\">and 2 years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10385 ss738\"><div><div class=\"ps7489 ss147\"><span class=\"f charStyle-281247bf ps10383\">After 2 <span class=\"f ps40\"> </span></span></div><div class=\"ps7490 ss147\"><span class=\"f charStyle-281247bf ps10384\">years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6049 ss738\"><div><div class=\"ps7469 ss147\"><span class=\"f charStyle-281247bf ps10386\">Total<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5143 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-b07b4361 ps39\">2025<span class=\"f ps40\"> </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=\"ps10387 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Trade and other payables<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10389 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">98,208</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10391 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10392 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10393 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">98,208</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps10394 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Payables to related parties<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10396 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">272</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10397 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10398 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10399 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">272</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps9223 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Lease liabilities<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10401 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">1,851</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10402 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">2,819</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10403 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">8,868</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10404 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">13,538</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps2302 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Debt to credit institutions<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10406 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">194,548</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10407 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">247,706</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10409 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:12.37pt\"></span></span><span class=\"ps10408\">1,607,212</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10410 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:12.37pt\"></span></span><span class=\"ps10408\">2,049,466</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps10411 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Derivatives<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10412 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">3,062</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10413 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">1,884</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10414 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">8,770</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10415 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">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=\"ps10417 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.77pt\"></span></span><span class=\"ps10416\">297,941</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10418 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.77pt\"></span></span><span class=\"ps10416\">252,409</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10419 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:9.17pt\"></span></span><span class=\"ps9470\">1,624,850</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8651 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:9.17pt\"></span></span><span class=\"ps9470\">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=\"ps2016 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-b07b4361 ps39\">2024<span class=\"f ps40\"> </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=\"ps6357 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Trade and other payables<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10420 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">43,595</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10421 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10422 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10423 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">43,595</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps6362 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Payables to related parties<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10424 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">223</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10425 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10426 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10427 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">223</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps2220 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Lease liabilities<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10428 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">1,274</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10429 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">2,337</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10430 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">7,360</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10431 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">10,971</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps685 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Debt to credit institutions<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10432 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">31,163</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10433 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">54,339</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10434 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">485,515</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10435 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">571,017</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps2111 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Derivatives<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10436 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">209</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10437 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10438 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">16,205</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10439 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">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=\"ps10441 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.94pt\"></span></span><span class=\"ps10440\">76,464</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10442 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.94pt\"></span></span><span class=\"ps10440\">56,676</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10443 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.77pt\"></span></span><span class=\"ps10416\">509,080</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10444 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.77pt\"></span></span><span class=\"ps10416\">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=\"ps6842 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-b07b4361 ps39\">2023<span class=\"f ps40\"> </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=\"ps6021 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Trade and other payables<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10445 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">32,636</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10446 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10447 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10448 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">32,636</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps10449 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Payables to related parties<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10450 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">162</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10451 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10452 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10453 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">162</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps6178 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Lease liabilities<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10454 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">601</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10455 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">392</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10456 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10457 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">993</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps9969 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Debt to credit institutions<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10458 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">799</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10459 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10460 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">204,773</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10461 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">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=\"ps10462 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Derivatives<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10463 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">4,004</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10464 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">5,683</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10465 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">12,274</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10466 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">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=\"ps10467 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.94pt\"></span></span><span class=\"ps10440\">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=\"ps10468 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.11pt\"></span></span><span class=\"ps4617\">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=\"ps10469 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.77pt\"></span></span><span class=\"ps10416\">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=\"ps10470 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.77pt\"></span></span><span class=\"ps10416\">261,324</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-644c6314 ps1006\">Change in debts to credit institutions during the year</span></div><div class=\"ps10494 ss0\"><div class=\"ss176 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=\"ps37 ss740\"><div><div class=\"ps7618 ss598\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7532 ss741\"><div><div class=\"ps4441 ss147\"><span class=\"f charStyle-281247bf ps6086\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10385 ss741\"><div><div class=\"ps4441 ss147\"><span class=\"f charStyle-054ead99 ps6086\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6049 ss741\"><div><div class=\"ps4441 ss147\"><span class=\"f charStyle-054ead99 ps6086\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps439 ss740\"><div><div class=\"ps435 ss598\"><span class=\"f charStyle-1bac868e ps630\">Debt to credit institutions at 1 January<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10474 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10473\">(571,017)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10475 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10473\">(205,572)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7731 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10473\">(115,002)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps460 ss740\"><div><div class=\"ps435 ss598\"><span class=\"f charStyle-1bac868e ps630\">Loans repayments<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10476 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">279,281</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10477 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">10,630</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7734 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">115,000</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5518 ss740\"><div><div class=\"ps435 ss598\"><span class=\"f charStyle-1bac868e ps630\">Proceeds from borrowing<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10479 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:6.95pt\"></span></span><span class=\"ps10478\">(1,337,178)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10480 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10473\">(385,234)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7738 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10473\">(211,934)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5527 ss740\"><div><div class=\"ps435 ss598\"><span class=\"f charStyle-1bac868e ps630\">New loan fees<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10481 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">25,193</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10482 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">11,100</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7740 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">8,262</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5532 ss740\"><div><div class=\"ps435 ss598\"><span class=\"f charStyle-1bac868e ps630\">Non-cash movements<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10484 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10483\">(7,033)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10485 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10483\">(1,941)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7743 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5537 ss740\"><div><div class=\"ps435 ss598\"><span class=\"f charStyle-1bac868e ps630\">Write-off of loan fees<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10486 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10487 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10488 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10483\">(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=\"ps59 ss740\"><div><div class=\"ps435 ss598\"><span class=\"f charStyle-b07b4361 ps39\">Debt to credit institutions at 31 December 2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10490 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:2.53pt\"></span></span><span class=\"ps10489\">(1,610,754)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10492 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:10.13pt\"></span></span><span class=\"ps10491\">(571,017)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10493 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:10.13pt\"></span></span><span class=\"ps10491\">(205,572)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps4569 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Total </span><span class=\"f charStyle-c1b8f9f6 ps10496\">Proceeds from borrowing, net of bank fees, </span><span class=\"f charStyle-c1b8f9f6 ps10497\">in </span><span class=\"f charStyle-c1b8f9f6 ps10498\">2025</span><span class=\"f charStyle-c1b8f9f6 ps10499\"> as per Consolidated Statement of Cash Flows </span></div><div class=\"ps4570 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">amounted to </span><span class=\"f charStyle-c1b8f9f6 ps10500\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10501\"> </span><span class=\"f charStyle-c1b8f9f6 ps10502\">1,309</span><span class=\"f charStyle-c1b8f9f6 ps10503\"> million, excluding </span><span class=\"f charStyle-c1b8f9f6 ps10504\">EUR </span><span class=\"f charStyle-c1b8f9f6 ps10505\">2.8</span><span class=\"f charStyle-c1b8f9f6 ps10506\"> of loan fees that have been included in Prepayments.</span></div></div><div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 23</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Financial Risk Management<span id=\"i02333bd18ef54b7bad290442ee513491\"></span></span></div><div class=\"ps6975 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-cd31f1a5 ps183\">Continued from previous page</span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Capital management<span id=\"i025d8568241546d6b01fee9b47d8e40f\"></span></span></div><div class=\"ps369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Company\u2019s objectives when managing capital are to ensure the </span></div><div class=\"ps370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Company\u2019s ability to continue as a going concern and to maintain an </span></div><div class=\"ps397 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">optimal capital structure.</span></div><div class=\"ps372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In order to achieve this overall objective, the Company\u2019s capital </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">management aims, among other things, to ensure compliance wth </span></div><div class=\"ps374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the financial covenants attached to the interest-bearing loans and </span></div><div class=\"ps375 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">borrowings that define capital structure requirements. A breach of </span></div><div class=\"ps376 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the financial covenants would permit the bank to immediately call </span></div><div class=\"ps398 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">loans and borrowings. There have been no breaches of the financial </span></div><div class=\"ps399 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">covenants of any interest-bearing loans and borrowing in the current </span></div><div class=\"ps10507 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">period.</span></div><div class=\"ps380 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In order to maintain or adjust the capital structure in the future, the </span></div><div class=\"ps381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Group may adjust dividend payments to shareholders, issue new </span></div><div class=\"ps400 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">shares and/or dispose of assets to reduce debt. Pursuant to the </span></div><div class=\"ps426 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Green Corporate Facility, the Company is not permitted to pay any </span></div><div class=\"ps427 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">dividends or other distributions without the prior written consent of </span></div><div class=\"ps428 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">DNB Bank ASA.</span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps879\">Fair value measurement<span id=\"ide79311c8cde4f88ab294fa6177f27b8\"></span></span></div><div class=\"ps369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">The Group measures derivatives at fair value at each balance sheet </span></div><div class=\"ps370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">date. Fair value is the price that would be received to sell an asset or </span></div><div class=\"ps397 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">paid to transfer a liability in an orderly transaction between market </span></div><div class=\"ps7437 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">participants at the balance sheet date. </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">The principal, or in its absence the most advantageous market must </span></div><div class=\"ps374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">be accessible by the Group. The fair value of an asset or liability is </span></div><div class=\"ps375 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">measured using the assumptions that market participants would use </span></div><div class=\"ps376 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">when pricing the asset or liability, assuming that market participants </span></div><div class=\"ps398 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">act in their own economic best interest.</span></div><div class=\"ps378 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">In measuring the fair value of unlisted derivative financial instruments </span></div><div class=\"ps379 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">and other financial instruments for which there is no active market, </span></div><div class=\"ps380 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">fair value is determined using generally accepted valuation </span></div><div class=\"ps381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">techniques. Market-based parameters such as market-based yield </span></div><div class=\"ps400 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">curves and forward exchange rate are used for the valuation.</span></div><div class=\"ps383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">The Group uses valuation techniques that are appropriate in the </span></div><div class=\"ps401 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">circumstances and for which sufficient data is available to measure </span></div><div class=\"ps402 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">fair value, maximising the use of relevant observable inputs and </span></div><div class=\"ps403 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">minimising the use of unobservable inputs.</span></div><div class=\"ps416 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Financial instruments for which fair value is measured or disclosed in </span></div><div class=\"ps417 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">the financial statements are categorised within the fair value </span></div><div class=\"ps418 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">hierarchy, as described below:</span></div><div class=\"ps5466 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Level 1: The fair value of financial instruments traded in active markets </span></div><div class=\"ps5467 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">(such as publicly traded derivatives, and equity securities) is based on </span></div><div class=\"ps5468 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">quoted market prices at the end of the reporting period. The quoted </span></div><div class=\"ps422 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">market price used for financial assets held by the Group is the current </span></div><div class=\"ps423 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">bid price. These instruments are included in level 1. </span></div><div class=\"ps7070 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Level 2: The fair value of financial instruments that are not traded in </span></div><div class=\"ps7071 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">an active market (e.g. over-the counter derivatives) is determined </span></div><div class=\"ps7072 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">using valuation techniques that maximise the use of observable </span></div><div class=\"ps7073 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">market data and rely as little as possible on entity-specific estimates. </span></div><div class=\"ps5472 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">The valuation techniques applied are primarily based on marked-</span></div><div class=\"ps5473 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">based inputs of the instruments. If all significant inputs required to </span></div><div class=\"ps5474 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">measure the fair value of an instrument are observable, the </span></div><div class=\"ps5475 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">instrument is included in Level 2.</span></div><div class=\"ps10508 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Level 3: If one or more of the significant inputs is not observable </span></div><div class=\"ps10509 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">market data, the instrument is included in Level 3.</span></div><div class=\"ps10510 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">The table below shows the fair value measurement of the Group\u2019s </span></div><div class=\"ps10511 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">assets and liabilities:</span></div></div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 23</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Financial Risk Management<span id=\"i17d62998c5ee46b7b38fe49e60f71f68\"></span></span></div><div class=\"ps6975 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-cd31f1a5 ps183\">Continued from previous page</span></div><div class=\"ps7512 ss0\"><div class=\"ss193 ws0 ps67\"><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=\"ps37 ss742\"><div><div class=\"ps7618 ss697\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9576 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-281247bf ps3737\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9577 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-054ead99 ps3737\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5310 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-054ead99 ps3737\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps439 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-b07b4361 ps39\">Derivative assets measured at fair value<span class=\"f ps40\"> </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=\"ps460 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-1bac868e ps630\">Interest from IRS recycled through OCI<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10514 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10515 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">228</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10516 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5518 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-1bac868e ps630\">Interest rate swaps<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10517 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">2,171</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10518 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">1,287</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10519 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">338</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5527 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-1bac868e ps630\">FX forward contracts<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10520 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">511</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10521 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">6,849</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10522 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5532 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-1bac868e ps630\">FX option collars<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10523 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10524 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">4,764</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10525 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5537 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-1bac868e ps630\">Time value of FX option collars through OCI<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10526 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10527 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">5,340</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10528 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps59 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-b07b4361 ps39\">Total derivative assets<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10529 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.86pt\"></span></span><span class=\"ps6090\">2,682</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10530 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7299\">18,468</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10531 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.46pt\"></span></span><span class=\"ps9601\">338</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5171 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-b07b4361 ps39\">Derivative liabilities measured at fair value<span class=\"f ps40\"> </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=\"ps5545 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-1bac868e ps630\">Interest rate swap<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10532 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7268\">10,499</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10533 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7268\">16,231</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10534 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7268\">11,789</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5550 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-1bac868e ps630\">FX forward contracts<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10535 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10536 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10537 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">5,338</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5551 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-1bac868e ps630\">Interest recycled through OCI<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10538 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">525</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10539 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10540 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">810</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5557 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-1bac868e ps630\">Time value of FX option collars through OCI<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10541 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">576</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10542 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">209</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10543 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">3,621</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps4019 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-1bac868e ps630\">Derivatives ineffective hedges<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10544 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">2,116</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10545 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.85pt\"></span></span><span class=\"ps9592\">(26)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10546 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">403</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5564 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-b07b4361 ps39\">Total derivative liabilities<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10547 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7299\">13,716</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10548 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7299\">16,414</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10549 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7299\">21,961</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">As of </span><span class=\"f charStyle-c1b8f9f6 ps9662\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps9663\">, the fair value of the derivative assets amounted to </span><span class=\"f charStyle-c1b8f9f6 ps10551\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10552\"> </span><span class=\"f charStyle-c1b8f9f6 ps10553\">2,682 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10554\"> (</span><span class=\"f charStyle-c1b8f9f6 ps10555\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10556\">: </span><span class=\"f charStyle-c1b8f9f6 ps10557\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10558\"> </span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">18,468 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10559\">; </span><span class=\"f charStyle-c1b8f9f6 ps10560\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10561\">: EUR </span><span class=\"f charStyle-c1b8f9f6 ps10562\">338 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10563\">) and derivative liabilities amounted to </span><span class=\"f charStyle-c1b8f9f6 ps10564\">13,716 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10565\"> (</span><span class=\"f charStyle-c1b8f9f6 ps10566\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10567\">: </span><span class=\"f charStyle-c1b8f9f6 ps10568\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10569\"> </span></div><div class=\"ps7161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">16,414 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10570\">; </span><span class=\"f charStyle-c1b8f9f6 ps10571\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10572\">: </span><span class=\"f charStyle-c1b8f9f6 ps10573\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10574\"> </span><span class=\"f charStyle-c1b8f9f6 ps10575\">21,961 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10576\">). The variation primarily reflects the execution of certain </span></div><div class=\"ps7164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">financial instruments, together with changes in interest rate expectations in 2025 compared to 2024. These </span></div><div class=\"ps7578 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">expectations were driven by more persistent inflation and continued economic resilience, resulting in higher </span></div><div class=\"ps7579 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">interest rates and a stronger USD.</span></div><div class=\"ps7118 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">As of </span><span class=\"f charStyle-c1b8f9f6 ps9662\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps9663\">, derivatives measured at fair value through profit or loss amounted to a gain of </span></div><div class=\"ps7119 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9078\"> </span><span class=\"f charStyle-c1b8f9f6 ps9079\">2,116 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10577\"> gain (</span><span class=\"f charStyle-c1b8f9f6 ps10578\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10579\">: </span><span class=\"f charStyle-c1b8f9f6 ps10580\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10581\"> </span><span class=\"f charStyle-c1b8f9f6 ps10582\">26 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10583\"> loss; </span><span class=\"f charStyle-c1b8f9f6 ps10584\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10585\">: </span><span class=\"f charStyle-c1b8f9f6 ps10586\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10587\"> </span><span class=\"f charStyle-c1b8f9f6 ps10588\">403 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10589\"> gain). </span></div><div class=\"ps424 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">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 ps183\">Note 24</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Derivative Financial Instruments<span id=\"i74bbd761097e4b5eb3a43ac604fcbb59\"></span></span></div><div class=\"ps6921 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Hedge accounting<span id=\"id5794f3801f142039fd8b90cd16b8edf\"></span></span></div><div class=\"ps6924 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group uses forward exchange contracts, including options (collars), and interest rate swap contracts to </span></div><div class=\"ps6926 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">hedge currency and interest rate risks related to highly probable future cash flows, and designates these </span></div><div class=\"ps2788 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">instruments as cash flow hedges, subject to meeting the criteria for the application of cash flow hedge </span></div><div class=\"ps2789 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">accounting. </span></div><div class=\"ps7579 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The hedging ratios are determined as the notional value of the hedging instrument divided by the notional </span></div><div class=\"ps6936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">value of the hedged item. The Group seeks to establish hedge relationships with a hedging ratio of 1:1. Due </span></div><div class=\"ps6937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">to the nature of the hedged item\u2019s risk, this is achieved by either designating a proportion of the hedging </span></div><div class=\"ps6940 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">instrument or by insuring that the hedge notional value is equal to or lower than the notional value of the </span></div><div class=\"ps2794 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">hedged item. The primary source of hedge ineffectiveness arises from the timing of vessel deliveries. The </span></div><div class=\"ps2795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">delivery of the vessel exposes the Group to multiple market risks, primarily foreign currency risks and </span></div><div class=\"ps2796 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">interest rate risk. The fair value changes of the hedging instruments are recognised in other comprehensive </span></div><div class=\"ps2797 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">income until the hedged items are recognised or realised. </span></div><div class=\"ps6924 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">The table below shows the movement in the reserve for cash flow for hedging, listed by the hedged risk.</span></div><div class=\"ps10471 ss0\"><div class=\"ss118 ws0 ps2924\"><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=\"ps37 ss744\"><div><div class=\"ps6200 ss743\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10590 ss324\"><div><div class=\"ps4288 ss287\"><span class=\"f charStyle-281247bf ps3871\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10591 ss324\"><div><div class=\"ps4288 ss287\"><span class=\"f charStyle-054ead99 ps3871\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10592 ss324\"><div><div class=\"ps4288 ss287\"><span class=\"f charStyle-054ead99 ps3871\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4293 ss745\"><div><div class=\"ps2702 ss743\"><span class=\"f charStyle-b07b4361 ps39\">Fair Value change of Cash flow hedges<span class=\"f ps40\"> </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=\"ps5195 ss745\"><div><div class=\"ps2702 ss743\"><span class=\"f charStyle-1bac868e ps630\">Cumulative fair value change at 1 January<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10594 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10593\">1,799</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10596 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.35pt\"></span></span><span class=\"ps10595\">(21,559)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10597 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10593\">1,343</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5204 ss745\"><div><div class=\"ps2702 ss743\"><span class=\"f charStyle-1bac868e ps630\">Fair value adjustment at year-end, net<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10598 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.2pt\"></span></span><span class=\"ps7394\">(5,003)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10600 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.77pt\"></span></span><span class=\"ps10599\">13,079</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10601 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.35pt\"></span></span><span class=\"ps10595\">(18,505)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5211 ss745\"><div><div class=\"ps2702 ss743\"><span class=\"f charStyle-1bac868e ps630\">Items recycled at year-end, net<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10602 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.2pt\"></span></span><span class=\"ps7394\">(2,582)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10603 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10593\">1,527</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10605 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31pt\"></span></span><span class=\"ps10604\">(776)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5220 ss745\"><div><div class=\"ps5193 ss743\"><span class=\"f charStyle-1bac868e ps630\">Transfer of cash flow hedge reserve to property, plant <span class=\"f ps40\"> </span></span></div><div class=\"ps5194 ss743\"><span class=\"f charStyle-1bac868e ps630\">and equipment</span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10606 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10593\">2,536</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10608 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10607\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10609 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10607\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5686 ss745\"><div><div class=\"ps2702 ss743\"><span class=\"f charStyle-1bac868e ps630\">Time value adjustment at year-end, net<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10610 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.2pt\"></span></span><span class=\"ps7394\">(5,708)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10611 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10593\">8,752</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10612 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.2pt\"></span></span><span class=\"ps7394\">(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=\"ps6305 ss745\"><div><div class=\"ps2702 ss743\"><span class=\"f charStyle-b07b4361 ps39\">Cumulative fair value change at 31 December<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10613 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.22pt\"></span></span><span class=\"ps7376\">(8,958)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10615 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.86pt\"></span></span><span class=\"ps10614\">1,799</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10617 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.05pt\"></span></span><span class=\"ps10616\">(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=\"ps6306 ss745\"><div><div class=\"ps5193 ss743\"><span class=\"f charStyle-b07b4361 ps39\">The fair value of cash flow hedges at 31 December <span class=\"f ps40\"> </span></span></div><div class=\"ps5194 ss743\"><span class=\"f charStyle-b07b4361 ps39\">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=\"ps9956 ss745\"><div><div class=\"ps2702 ss743\"><span class=\"f charStyle-1bac868e ps630\">Interest rate risk hedging<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10618 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.2pt\"></span></span><span class=\"ps7394\">(9,839)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10619 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.35pt\"></span></span><span class=\"ps10595\">(14,945)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10620 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.35pt\"></span></span><span class=\"ps10595\">(11,790)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps9960 ss745\"><div><div class=\"ps2702 ss743\"><span class=\"f charStyle-1bac868e ps630\">Foreign currency risk hedging<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10621 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10593\">1,457</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10622 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.77pt\"></span></span><span class=\"ps10599\">11,612</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10623 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.2pt\"></span></span><span class=\"ps7394\">(6,148)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps7503 ss745\"><div><div class=\"ps2702 ss743\"><span class=\"f charStyle-1bac868e ps630\">Foreign currency risk hedging - time value<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10624 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31pt\"></span></span><span class=\"ps10604\">(576)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10625 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10593\">5,132</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10626 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.2pt\"></span></span><span class=\"ps7394\">(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=\"ps9969 ss745\"><div><div class=\"ps2702 ss743\"><span class=\"f charStyle-b07b4361 ps39\">Cumulative fair value change at 31 December<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10627 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.22pt\"></span></span><span class=\"ps7376\">(8,958)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10628 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.86pt\"></span></span><span class=\"ps10614\">1,799</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10629 ss442\"><div><div class=\"ps2702 ss287\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.05pt\"></span></span><span class=\"ps10616\">(21,559)</span></span></div></div></div></td></tr></tbody></table></div></div></div></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Interest rate risk<span id=\"i295b7d3cae0a455994b5dd56fa5ae766\"></span></span></div><div class=\"ps369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group entered interest rate swap contracts with its main bank and designated these in relation to the </span></div><div class=\"ps370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Green Corporate Facility, P-class Facility and future loans to finance the purchase of the newbuild vessels. </span></div><div class=\"ps397 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Further details regarding the Group\u2019s current debt facilities related to interest rate swaps are provided in </span></div><div class=\"ps7437 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 25.</span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The interest rate risk arising from the loans has been partially hedged by swapping exposure from 3M </span></div><div class=\"ps374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">EURIBOR to a fixed interest rate. The credit facilities continue to expose the Group to changes in the 3M </span></div><div class=\"ps375 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">EURIBOR rate.</span></div><div class=\"ps10311 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The average fixed rate of the swaps is </span><span class=\"f charStyle-c1b8f9f6 ps10632\">2.83%</span><span class=\"f charStyle-c1b8f9f6 ps10633\"> (</span><span class=\"f charStyle-c1b8f9f6 ps10634\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10635\">: </span><span class=\"f charStyle-c1b8f9f6 ps10636\">2.78%</span><span class=\"f charStyle-c1b8f9f6 ps10637\">; </span><span class=\"f charStyle-c1b8f9f6 ps10638\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10639\">: </span><span class=\"f charStyle-c1b8f9f6 ps10640\">2.81%</span><span class=\"f charStyle-c1b8f9f6 ps10641\">). </span></div><div class=\"ps10312 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">A further portion of the exposure has been hedged through interest rate swap contracts with caps and </span></div><div class=\"ps7454 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">floors. The average fixed rate of the cap/floor swaps falls between </span><span class=\"f charStyle-c1b8f9f6 ps10642\">2.1%</span><span class=\"f charStyle-c1b8f9f6 ps10643\"> and </span><span class=\"f charStyle-c1b8f9f6 ps10644\">1.1%</span><span class=\"f charStyle-c1b8f9f6 ps10645\">.</span></div><div class=\"ps10646 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The economic relationship is established through a match of critical terms between the hedged item and </span></div><div class=\"ps8602 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the hedging instrument. The Group has assessed the following terms when entering into the hedge </span></div><div class=\"ps10647 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">relationship:</span></div><div class=\"ps10650 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps10648\">\u25e6<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps10649\">Instalments on the facilities.</span></div><div class=\"ps2445 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps10648\">\u25e6<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps10649\">Payment date of interest and instalment.</span></div><div class=\"ps2512 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps10648\">\u25e6<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps10649\">Timing difference in the maturity of the hedge item and hedge instrument.</span></div><div class=\"ps5000 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The expected causes of hedge ineffectiveness relate to:</span></div><div class=\"ps2870 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps10648\">\u25e6<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps10649\">Changes to the expected date of delivery of the vessels.</span></div><div class=\"ps4527 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps10648\">\u25e6<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps10649\">3M EURIBOR rate falling below </span><span class=\"f charStyle-c1b8f9f6 ps10651\">0%</span><span class=\"f charStyle-c1b8f9f6 ps10652\">.</span></div><div class=\"ps3625 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The table below shows the nominal amounts and the fair values of the interest rate swaps.</span></div><div class=\"ps7512 ss0\"><div class=\"ss176 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=\"ps10658 ss747\"><div><div class=\"ps5627 ss746\"><span class=\"f charStyle-054ead99 ps10657\">Fair Value EUR'000<span class=\"f ps40\"> </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=\"ps1987 ss748\"><div><div class=\"ps10659 ss93\"><span class=\"f charStyle-4979afbe ps39\">Notional amount EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10665 ss749\"><div><div class=\"ps5655 ss337\"><span class=\"f charStyle-281247bf ps10660\">Less <span class=\"f ps40\"> </span></span></div><div class=\"ps10662 ss337\"><span class=\"f charStyle-281247bf ps10661\">than 1 </span></div><div class=\"ps10664 ss337\"><span class=\"f charStyle-281247bf ps10663\">year</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10669 ss750\"><div><div class=\"ps5655 ss224\"><span class=\"f charStyle-281247bf ps10666\">Between <span class=\"f ps40\"> </span></span></div><div class=\"ps10662 ss224\"><span class=\"f charStyle-281247bf ps10667\">1 and 2 </span></div><div class=\"ps10664 ss224\"><span class=\"f charStyle-281247bf ps10668\">years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10670 ss750\"><div><div class=\"ps5655 ss224\"><span class=\"f charStyle-281247bf ps10666\">Between <span class=\"f ps40\"> </span></span></div><div class=\"ps10662 ss224\"><span class=\"f charStyle-281247bf ps10667\">2 and 5 </span></div><div class=\"ps10664 ss224\"><span class=\"f charStyle-281247bf ps10668\">years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10673 ss751\"><div><div class=\"ps10662 ss452\"><span class=\"f charStyle-281247bf ps10671\">More than <span class=\"f ps40\"> </span></span></div><div class=\"ps10664 ss452\"><span class=\"f charStyle-281247bf ps10672\">5 years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10675 ss752\"><div><div class=\"ps10664 ss161\"><span class=\"f charStyle-281247bf ps10674\">Asset<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10677 ss752\"><div><div class=\"ps10664 ss161\"><span class=\"f charStyle-281247bf ps10676\">Liability<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2074 ss753\"><div><div class=\"ps4441 ss93\"><span class=\"f charStyle-b07b4361 ps39\">2025<span class=\"f ps40\"> </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=\"ps10678 ss753\"><div><div class=\"ps4441 ss93\"><span class=\"f charStyle-48c03ae0 ps630\">IRS \u2013 EURIBOR 3M<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10680 ss754\"><div><div class=\"ps4441 ss337\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.72pt\"></span></span><span class=\"ps10679\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10681 ss609\"><div><div class=\"ps4441 ss224\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.17pt\"></span></span><span class=\"ps7637\">150,000</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10682 ss609\"><div><div class=\"ps4441 ss224\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.17pt\"></span></span><span class=\"ps7637\">576,703</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10684 ss755\"><div><div class=\"ps4441 ss452\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:14.67pt\"></span></span><span class=\"ps10683\">141,875</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10685 ss674\"><div><div class=\"ps4441 ss161\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:14.62pt\"></span></span><span class=\"ps8901\">2,172</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10687 ss674\"><div><div class=\"ps4441 ss161\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:4.35pt\"></span></span><span class=\"ps10686\">(10,499)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps7385 ss753\"><div><div class=\"ps4441 ss93\"><span class=\"f charStyle-b07b4361 ps39\">2024<span class=\"f ps40\"> </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=\"ps5680 ss753\"><div><div class=\"ps4441 ss93\"><span class=\"f charStyle-1bac868e ps630\">IRS \u2013 EURIBOR 3M<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10688 ss754\"><div><div class=\"ps4441 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.72pt\"></span></span><span class=\"ps10679\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10689 ss609\"><div><div class=\"ps4441 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.22pt\"></span></span><span class=\"ps7626\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10690 ss609\"><div><div class=\"ps4441 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.17pt\"></span></span><span class=\"ps7637\">355,117</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10691 ss755\"><div><div class=\"ps4441 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:14.67pt\"></span></span><span class=\"ps10683\">455,625</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10692 ss674\"><div><div class=\"ps4441 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:14.62pt\"></span></span><span class=\"ps8901\">1,286</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10693 ss674\"><div><div class=\"ps4441 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:4.35pt\"></span></span><span class=\"ps10686\">(16,231)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps6357 ss753\"><div><div class=\"ps4441 ss93\"><span class=\"f charStyle-b07b4361 ps39\">2023<span class=\"f ps40\"> </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=\"ps6305 ss753\"><div><div class=\"ps4441 ss93\"><span class=\"f charStyle-1bac868e ps630\">IRS \u2013 EURIBOR 3M<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10694 ss754\"><div><div class=\"ps4441 ss337\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.72pt\"></span></span><span class=\"ps10679\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10695 ss609\"><div><div class=\"ps4441 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.22pt\"></span></span><span class=\"ps7626\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10696 ss609\"><div><div class=\"ps4441 ss224\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.17pt\"></span></span><span class=\"ps7637\">555,000</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10698 ss755\"><div><div class=\"ps4441 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.72pt\"></span></span><span class=\"ps10697\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10699 ss674\"><div><div class=\"ps4441 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.97pt\"></span></span><span class=\"ps8913\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10700 ss674\"><div><div class=\"ps4441 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:4.35pt\"></span></span><span class=\"ps10686\">(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=\"ps691 ss756\"><div><div class=\"ps6278 ss93\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </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=\"ps10702 ss468\"><div><div class=\"ps5127 ss452\"><span class=\"f charStyle-281247bf ps4658\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10703 ss757\"><div><div class=\"ps5127 ss161\"><span class=\"f charStyle-054ead99 ps6379\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps4412 ss757\"><div><div class=\"ps5127 ss161\"><span class=\"f charStyle-054ead99 ps6379\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps3996 ss758\"><div><div class=\"ps5628 ss93\"><span class=\"f charStyle-b07b4361 ps39\">Movements in the hedging <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss93\"><span class=\"f charStyle-b07b4361 ps39\">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=\"ps2912 ss758\"><div><div class=\"ps5627 ss93\"><span class=\"f charStyle-1bac868e ps630\">Beginning of year<span class=\"f ps40\"> </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=\"ps10705 ss453\"><div><div class=\"ps5627 ss452\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:14.1pt\"></span></span><span class=\"ps10704\">(14,945)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10706 ss170\"><div><div class=\"ps5627 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:4.35pt\"></span></span><span class=\"ps10686\">(11,790)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10707 ss170\"><div><div class=\"ps5627 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:14.62pt\"></span></span><span class=\"ps8901\">3,163</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps802 ss758\"><div><div class=\"ps5628 ss93\"><span class=\"f charStyle-1bac868e ps630\">Fair value adjustment for <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss93\"><span class=\"f charStyle-1bac868e ps630\">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=\"ps10708 ss453\"><div><div class=\"ps5627 ss452\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.37pt\"></span></span><span class=\"ps7802\">5,864</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10709 ss170\"><div><div class=\"ps5627 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:9.2pt\"></span></span><span class=\"ps6825\">(3,265)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10710 ss170\"><div><div class=\"ps5627 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:4.35pt\"></span></span><span class=\"ps10686\">(14,177)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5764 ss758\"><div><div class=\"ps5627 ss93\"><span class=\"f charStyle-1bac868e ps630\">Ineffectiveness<span class=\"f ps40\"> </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=\"ps10712 ss453\"><div><div class=\"ps5627 ss452\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.95pt\"></span></span><span class=\"ps10711\">(1,511)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10713 ss170\"><div><div class=\"ps5627 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.97pt\"></span></span><span class=\"ps8913\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10714 ss170\"><div><div class=\"ps5627 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:26.97pt\"></span></span><span class=\"ps8913\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps4668 ss758\"><div><div class=\"ps5627 ss93\"><span class=\"f charStyle-1bac868e ps630\">Items recycled for the year<span class=\"f ps40\"> </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=\"ps10715 ss453\"><div><div class=\"ps5627 ss452\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7805\">753</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10716 ss170\"><div><div class=\"ps5627 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.42pt\"></span></span><span class=\"ps6798\">110</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10717 ss170\"><div><div class=\"ps5627 ss161\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16pt\"></span></span><span class=\"ps6827\">(776)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10718 ss758\"><div><div class=\"ps5627 ss93\"><span class=\"f charStyle-b07b4361 ps39\">End of year<span class=\"f ps40\"> </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=\"ps10720 ss453\"><div><div class=\"ps5627 ss452\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.97pt\"></span></span><span class=\"ps10719\">(9,839)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10722 ss170\"><div><div class=\"ps5627 ss161\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:1.05pt\"></span></span><span class=\"ps10721\">(14,945)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10723 ss170\"><div><div class=\"ps5627 ss161\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:1.05pt\"></span></span><span class=\"ps10721\">(11,790)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Foreign currency risk hedging<span id=\"i54edb84666704c6887debf34649e5c53\"></span></span></div><div class=\"ps369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">As a result of the contracts signed with COSCO and Hanwha for the construction of the newbuild vessels, </span></div><div class=\"ps370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the Group is exposed to foreign exchange risk, as instalment payments are denominated in USD, while the </span></div><div class=\"ps397 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">functional currency is </span><span class=\"f charStyle-c1b8f9f6 ps10724\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10725\">. The final instalments are payable upon delivery of the vessels. </span></div><div class=\"ps372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The currency exposure arising from these contracts has been swapped into </span><span class=\"f charStyle-c1b8f9f6 ps10726\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10727\"> at an average USD:</span><span class=\"f charStyle-c1b8f9f6 ps10728\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10729\"> rate </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">of </span><span class=\"f charStyle-c1b8f9f6 ps10242\">0.8586</span><span class=\"f charStyle-c1b8f9f6 ps10730\"> (</span><span class=\"f charStyle-c1b8f9f6 ps10731\">0.9107</span><span class=\"f charStyle-c1b8f9f6 ps10732\"> for </span><span class=\"f charStyle-c1b8f9f6 ps10733\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10734\"> and </span><span class=\"f charStyle-c1b8f9f6 ps10735\">0.9187</span><span class=\"f charStyle-c1b8f9f6 ps10736\"> for </span><span class=\"f charStyle-c1b8f9f6 ps10737\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10738\">). </span></div><div class=\"ps10741 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">A further portion of the exposure to fluctuations in future exchange rates has been hedged through </span><span class=\"f charStyle-c1b8f9f6 ps10739\">zero</span><span class=\"f charStyle-c1b8f9f6 ps10740\">-</span></div><div class=\"ps10310 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">cost collar contracts, securing an average USD:</span><span class=\"f charStyle-c1b8f9f6 ps10742\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10743\"> rate ranging between </span><span class=\"f charStyle-c1b8f9f6 ps10744\">0.8607</span><span class=\"f charStyle-c1b8f9f6 ps7940\"> and </span><span class=\"f charStyle-c1b8f9f6 ps10745\">0.9092</span><span class=\"f charStyle-c1b8f9f6 ps10746\">. As of </span></div><div class=\"ps10311 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps8029\">, the total coverage effectively mitigates approximately </span><span class=\"f charStyle-c1b8f9f6 ps10747\">42%</span><span class=\"f charStyle-c1b8f9f6 ps10748\"> on average of the Group\u2019s </span></div><div class=\"ps377 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">foreign exchange risk related to future USD denominated instalments under the A-class vessel contracts.</span></div><div class=\"ps7454 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The economic relationship is established through a match of critical terms between the hedge item and </span></div><div class=\"ps7455 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">hedge instrument. The Group has assessed the following terms when entering into the hedge relationship:</span></div><div class=\"ps8602 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps10648\">\u25e6<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps10649\">Payment dates of instalments in foreign currency.</span></div><div class=\"ps10749 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps10648\">\u25e6<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps10649\">Maturity of the hedged item and hedged instruments (forward contract and option </span></div><div class=\"ps10650 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps10649\">collars).</span></div><div class=\"ps2445 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The expected causes of hedging ineffectiveness primarily relate to changes in the expected delivery dates of </span></div><div class=\"ps2446 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the vessel. The table below presents the nominal amounts and fair values of the foreign currency forward </span></div><div class=\"ps2447 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">contracts and option collars.</span></div><div class=\"ps7512 ss0\"><div class=\"ss176 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=\"ps7836 ss760\"><div><div class=\"ps5127 ss730\"><span class=\"f charStyle-054ead99 ps10751\">Fair Value EUR'000<span class=\"f ps40\"> </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=\"ps4698 ss761\"><div><div class=\"ps8191 ss759\"><span class=\"f charStyle-4979afbe ps39\">Notational amount USD'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10752 ss446\"><div><div class=\"ps5628 ss147\"><span class=\"f charStyle-281247bf ps10378\">Less than 1 <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss147\"><span class=\"f charStyle-281247bf ps10379\">year</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10753 ss446\"><div><div class=\"ps5628 ss147\"><span class=\"f charStyle-281247bf ps10381\">Between 1 <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss147\"><span class=\"f charStyle-281247bf ps10382\">and 2 years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10754 ss446\"><div><div class=\"ps5628 ss147\"><span class=\"f charStyle-281247bf ps10381\">Between 2 <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss147\"><span class=\"f charStyle-281247bf ps10382\">and 5 years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10756 ss762\"><div><div class=\"ps5627 ss378\"><span class=\"f charStyle-281247bf ps10755\">Asset<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10758 ss762\"><div><div class=\"ps5627 ss378\"><span class=\"f charStyle-281247bf ps10757\">Liability<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5644 ss763\"><div><div class=\"ps5127 ss759\"><span class=\"f charStyle-b07b4361 ps39\">2025<span class=\"f ps40\"> </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=\"ps3743 ss763\"><div><div class=\"ps5127 ss759\"><span class=\"f charStyle-48c03ae0 ps630\">FX forward contracts<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10759 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">162,295</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10760 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">48,800</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10761 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10762 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.17pt\"></span></span><span class=\"ps8222\">511</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10764 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.72pt\"></span></span><span class=\"ps10763\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"background-color:#206079;padding:0\"><div class=\"ps49 ss763\"><div><div class=\"ps5127 ss759\"><span class=\"f charStyle-48c03ae0 ps630\">Option collars<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10765 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">159,875</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps6867 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">48,800</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps50 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10766 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.72pt\"></span></span><span class=\"ps10763\">\u2014</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10767 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.75pt\"></span></span><span class=\"ps8357\">(576)</span></span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"padding:0\"><div class=\"ps6518 ss763\"><div><div class=\"ps5127 ss759\"><span class=\"f charStyle-b07b4361 ps39\">2024<span class=\"f ps40\"> </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=\"ps5211 ss763\"><div><div class=\"ps5127 ss759\"><span class=\"f charStyle-1bac868e ps630\">FX forward contracts<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10768 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">104,545</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10769 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">55,398</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10770 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10771 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.37pt\"></span></span><span class=\"ps8206\">6,849</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10772 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.72pt\"></span></span><span class=\"ps10763\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"padding:0\"><div class=\"ps5532 ss763\"><div><div class=\"ps5127 ss759\"><span class=\"f charStyle-1bac868e ps630\">Option collars<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10773 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">300,000</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10774 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">100,000</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10775 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7855 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.52pt\"></span></span><span class=\"ps10776\">10,104</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10777 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.75pt\"></span></span><span class=\"ps8357\">(209)</span></span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"padding:0\"><div class=\"ps2310 ss763\"><div><div class=\"ps5127 ss759\"><span class=\"f charStyle-b07b4361 ps39\">2023<span class=\"f ps40\"> </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=\"ps2278 ss763\"><div><div class=\"ps5127 ss759\"><span class=\"f charStyle-1bac868e ps630\">FX forward contracts<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10778 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">150,000</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10779 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">50,000</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10780 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10781 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.72pt\"></span></span><span class=\"ps10763\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10783 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.95pt\"></span></span><span class=\"ps10782\">(5,338)</span></span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"padding:0\"><div class=\"ps2095 ss763\"><div><div class=\"ps5127 ss759\"><span class=\"f charStyle-1bac868e ps630\">Option collars<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10784 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10785 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">250,000</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10786 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">50,000</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10787 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.72pt\"></span></span><span class=\"ps10763\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10788 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.95pt\"></span></span><span class=\"ps10782\">(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=\"ps10789 ss763\"><div><div class=\"ps6278 ss759\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </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=\"ps10790 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-281247bf ps6086\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10792 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-054ead99 ps10791\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10793 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-054ead99 ps10791\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7409 ss761\"><div><div class=\"ps5628 ss759\"><span class=\"f charStyle-b07b4361 ps39\">Movements in the hedging <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss759\"><span class=\"f charStyle-b07b4361 ps39\">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=\"ps2228 ss763\"><div><div class=\"ps5127 ss759\"><span class=\"f charStyle-1bac868e ps630\">Beginning of year<span class=\"f ps40\"> </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=\"ps10794 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">16,744</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10795 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.95pt\"></span></span><span class=\"ps10782\">(9,769)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10796 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.95pt\"></span></span><span class=\"ps10782\">(1,820)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps6007 ss761\"><div><div class=\"ps5628 ss759\"><span class=\"f charStyle-1bac868e ps630\">Fair value adjustment for the <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss759\"><span class=\"f charStyle-1bac868e ps630\">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=\"ps10797 ss446\"><div><div class=\"ps5627 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10483\">(6,103)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10798 ss762\"><div><div class=\"ps5627 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.52pt\"></span></span><span class=\"ps10776\">10,771</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10799 ss762\"><div><div class=\"ps5627 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.95pt\"></span></span><span class=\"ps10782\">(3,518)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5557 ss761\"><div><div class=\"ps5628 ss759\"><span class=\"f charStyle-1bac868e ps630\">Fair value adjustment for the <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss759\"><span class=\"f charStyle-1bac868e ps630\">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=\"ps10800 ss446\"><div><div class=\"ps5627 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10483\">(4,764)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10801 ss762\"><div><div class=\"ps5627 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.37pt\"></span></span><span class=\"ps8206\">5,573</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10802 ss762\"><div><div class=\"ps5627 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:22.75pt\"></span></span><span class=\"ps8357\">(810)</span></span></div></div></div></td></tr><tr style=\"height:36.75pt\"><td style=\"padding:0\"><div class=\"ps6455 ss765\"><div><div class=\"ps5655 ss759\"><span class=\"f charStyle-1bac868e ps630\">Transfer of cash flow hedge <span class=\"f ps40\"> </span></span></div><div class=\"ps10662 ss759\"><span class=\"f charStyle-1bac868e ps630\">reserve to property, plant and </span></div><div class=\"ps10664 ss759\"><span class=\"f charStyle-1bac868e ps630\">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=\"ps10803 ss766\"><div><div class=\"ps10664 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">2,536</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10804 ss767\"><div><div class=\"ps10664 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.72pt\"></span></span><span class=\"ps10763\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10805 ss767\"><div><div class=\"ps10664 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.72pt\"></span></span><span class=\"ps10763\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"padding:0\"><div class=\"ps10806 ss763\"><div><div class=\"ps5127 ss759\"><span class=\"f charStyle-1bac868e ps630\">Items recycled for the year<span class=\"f ps40\"> </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=\"ps10807 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10483\">(1,824)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10808 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.37pt\"></span></span><span class=\"ps8206\">1,417</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10809 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:33.72pt\"></span></span><span class=\"ps10763\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps10810 ss761\"><div><div class=\"ps5628 ss759\"><span class=\"f charStyle-1bac868e ps630\">Time value adjustment for the <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss759\"><span class=\"f charStyle-1bac868e ps630\">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=\"ps10811 ss446\"><div><div class=\"ps5627 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10483\">(5,708)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10812 ss762\"><div><div class=\"ps5627 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.37pt\"></span></span><span class=\"ps8206\">8,752</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10813 ss762\"><div><div class=\"ps5627 ss378\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.95pt\"></span></span><span class=\"ps10782\">(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=\"ps4051 ss763\"><div><div class=\"ps5127 ss759\"><span class=\"f charStyle-b07b4361 ps39\">End of year<span class=\"f ps40\"> </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=\"ps10815 ss456\"><div><div class=\"ps5127 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.71pt\"></span></span><span class=\"ps10814\">881</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10817 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:14.44pt\"></span></span><span class=\"ps10816\">16,744</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps4052 ss764\"><div><div class=\"ps5127 ss378\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:12.97pt\"></span></span><span class=\"ps10818\">(9,769)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies<span id=\"ic09a383af8ab4b488bf22a7990e12a85\"></span></span></div><div class=\"ps369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Derivative financial instruments are initially recognised at fair value on the date the derivative contract is </span></div><div class=\"ps370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">entered into and are subsequently remeasured at fair value through profit and loss. Derivatives are carried </span></div><div class=\"ps397 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">as financial assets, presented as derivative assets, when the fair value is positive and as financial liabilities, </span></div><div class=\"ps7437 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">presented as derivative liabilities, when the fair value is negative.</span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">At the inception of a hedge relationship, the Group formally designates and documents the hedge </span></div><div class=\"ps374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">relationship, including the risk management objective and strategy for undertaking the hedge.</span></div><div class=\"ps10310 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Changes in the fair value of derivative financial instruments designated as cash flow hedges are recognised </span></div><div class=\"ps10311 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">in other comprehensive income and presented under \u201cHedging reserves\u201d (equity). Where the expected </span></div><div class=\"ps377 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">future transactions result in the acquisition of non-financial assets, amounts deferred in equity are </span></div><div class=\"ps378 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">transferred from equity and included in the cost of the asset. Where expected future transactions result in </span></div><div class=\"ps379 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">income or expenses, amounts deferred under in equity are transferred from equity to the statement of </span></div><div class=\"ps380 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">profit and loss, in the same item as the hedged transaction, as a reclassification adjustment. In addition, the </span></div><div class=\"ps381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">entity may transfer the cumulative fair value changes recognised in equity upon derecognition of the </span></div><div class=\"ps400 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">hedged item. </span></div><div class=\"ps383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Changes in the fair value of derivative financial instruments not designated as hedges are recognised in the </span></div><div class=\"ps401 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">statement of profit and loss. Certain borrowing facilities when undrawn do not qualify for hedge </span></div><div class=\"ps402 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">accounting. Changes in the fair value of these derivative financial instruments are therefore recognised in </span></div><div class=\"ps403 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the statement of profit and loss under \u201cFinancial income\u201d or \u201cFinancial expenses\u201d for interest rate swaps. </span></div><div class=\"ps387 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The amount included in the hedging reserve is the lower, in absolute terms, of the cumulative fair value </span></div><div class=\"ps388 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">adjustment of the hedging instrument and the hedged item. Hedge ineffectiveness is recognised in the </span></div><div class=\"ps405 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">consolidated statement of profit and loss. Cost of hedging reserves include the time value of options. </span></div><div class=\"ps406 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">These costs are recognised separately in Other Comprehensive Income (OCI) and are amortised over the </span></div><div class=\"ps407 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">life of the hedging instrument, in accordance with the specific hedging relationship. If the hedge is </span></div><div class=\"ps408 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">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-585": {
   "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 ps183\">Note 23 </span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Financial Risk Management<span id=\"i142e22eeb6ee4b569d62063b36a5336c\"></span></span></div><div class=\"ps10190 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Financial risk factors<span id=\"i92fef17d2ba64690b5da89bc24666508\"></span></span></div><div class=\"ps10191 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group\u2019s activities expose it to market risk, including currency risk and interest rate risk, as well as credit </span></div><div class=\"ps10192 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">risk and liquidity risk.</span></div><div class=\"ps7010 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The financial risk management of the Group is performed by the Management of Cadeler and overseen by </span></div><div class=\"ps7011 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the Board of Directors and Audit Committee. The fair value of the Group's financial assets and liabilities as of </span></div><div class=\"ps3194 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps8029\"> does not deviate materially from the carrying amounts as of </span><span class=\"f charStyle-c1b8f9f6 ps10193\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10194\">.</span></div><div class=\"ps7048 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-1819d385 ps183\">Quantitative and qualitative disclosures about market risk<span id=\"iea4977ea99a24a699f8a60be68581ddb\"></span></span></div><div class=\"ps10195 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Currency risk<span id=\"i172af3f680244f5d8fd11575933bbbc8\"></span></span></div><div class=\"ps10196 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group\u2019s business is exposed to the Danish Kroner (\u201cDKK\u201d), Norwegian Kroner (\u201cNOK\u201d), British Pound </span></div><div class=\"ps10197 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Sterling (\u201cGBP\u201d), United States Dollar (\u201cUSD\u201d), New Taiwan Dollar (\u201cTWD\u201d), and Japanese Yen (\u201cJPY\u201d), as </span></div><div class=\"ps10198 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">certain operating expenses are denominated in these currencies. The Company seeks to use financial </span></div><div class=\"ps7053 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">instruments to reduce currency risk when there is significant exposure to income or liabilities denominated </span></div><div class=\"ps7054 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">in currencies other than EUR or DKK, and where a cost-effective solution is available.</span></div><div class=\"ps10201 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-296ed202 ps183\">The functional currency of Cadeler A/S is </span><span class=\"f charStyle-296ed202 ps10199\">EUR</span><span class=\"f charStyle-296ed202 ps10200\">, while the largest currency exposure of the Group relates to </span></div><div class=\"ps10205 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-296ed202 ps183\">future instalments for newbuild vessels, denominated in USD, amounting to </span><span class=\"f charStyle-296ed202 ps10202\">USD </span><span class=\"f charStyle-296ed202 ps10203\">496\u00a0million</span><span class=\"f charStyle-296ed202 ps10204\">. Further details </span></div><div class=\"ps10206 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-296ed202 ps183\">regarding the instruments currently used to mitigate this currency risk are provided in Note 24. Management </span></div><div class=\"ps10207 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-296ed202 ps183\">and the Board of Directors evaluate the potential costs and benefits of currency exposure on an ongoing basis.</span></div><div class=\"ps10211 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">T</span><span class=\"f charStyle-c1b8f9f6 ps8964\">he Group holds cash balances in USD. If the USD:</span><span class=\"f charStyle-c1b8f9f6 ps1124\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10208\"> exchange rate were to deteriorate by </span><span class=\"f charStyle-c1b8f9f6 ps10209\">10%</span><span class=\"f charStyle-c1b8f9f6 ps10210\"> the result </span></div><div class=\"ps10227 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">before tax would have decreased by </span><span class=\"f charStyle-c1b8f9f6 ps10212\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10213\"> </span><span class=\"f charStyle-c1b8f9f6 ps10214\">1.6</span><span class=\"f charStyle-c1b8f9f6 ps10215\"> million (</span><span class=\"f charStyle-c1b8f9f6 ps10216\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7352\">: </span><span class=\"f charStyle-c1b8f9f6 ps10217\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10218\"> </span><span class=\"f charStyle-c1b8f9f6 ps10219\">1.8\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10220\">; </span><span class=\"f charStyle-c1b8f9f6 ps10221\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10222\">: </span><span class=\"f charStyle-c1b8f9f6 ps10223\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10224\"> </span><span class=\"f charStyle-c1b8f9f6 ps10225\">4.6\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10226\">), based on </span></div><div class=\"ps3208 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">USD cash holdings as of </span><span class=\"f charStyle-c1b8f9f6 ps10228\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10229\">.</span></div><div class=\"ps3281 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group holds cash balances in GBP. If the GBP:</span><span class=\"f charStyle-c1b8f9f6 ps10230\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10231\"> exchange rate were to deteriorate by </span><span class=\"f charStyle-c1b8f9f6 ps10232\">10%</span><span class=\"f charStyle-c1b8f9f6 ps10233\"> the result </span></div><div class=\"ps3282 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">before tax would have decreased by </span><span class=\"f charStyle-c1b8f9f6 ps10212\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10213\"> </span><span class=\"f charStyle-c1b8f9f6 ps10214\">0.4</span><span class=\"f charStyle-c1b8f9f6 ps10234\"> </span><span class=\"f charStyle-c1b8f9f6 ps10235\">million (</span><span class=\"f charStyle-c1b8f9f6 ps10236\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10237\">: </span><span class=\"f charStyle-c1b8f9f6 ps10238\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10239\"> </span><span class=\"f charStyle-c1b8f9f6 ps10240\">0.7\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10241\">) based on GBP cash holdings as </span></div><div class=\"ps3283 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">of </span><span class=\"f charStyle-c1b8f9f6 ps10242\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10243\">.</span></div><div class=\"ps2697 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-616c3f6a ps183\">As the DKK is pegged to the </span><span class=\"f charStyle-616c3f6a ps10244\">EUR</span><span class=\"f charStyle-616c3f6a ps10245\">, no material currency risk has been identified in relation to the DKK, despite the </span></div><div class=\"ps2698 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-616c3f6a ps183\">Cadeler Group incurring costs denominated in DKK. As of </span><span class=\"f charStyle-616c3f6a ps10246\">31\u00a0December 2025</span><span class=\"f charStyle-616c3f6a ps10247\">, the Cadeler Group did not hold any </span></div><div class=\"ps2699 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-616c3f6a ps183\">material cash balances denominated in NOK, JPY, or TWD.</span></div><div class=\"ps10248 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Currency risk associated with other financial instruments denominated in foriegn currencies is limited and </span></div><div class=\"ps10249 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">therefore excluded from this analysis. </span></div><div class=\"ps10190 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Interest rate risk<span id=\"i4a97714972f94b6d96c9ce5a4f4eb971\"></span></span></div><div class=\"ps10191 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The Group\u2019s current exposure to the risk of changes in market interest rates relates primarily to the Green </span></div><div class=\"ps10192 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Corporate Facility, the P-class Facility, M-class Facility and Holdco Facility. Further details regarding the </span></div><div class=\"ps7752 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">hedging instruments used to mitigate this risk are provided in Note 24.</span></div><div class=\"ps7011 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The Green Corporate Facility and Holdco Facility are based on a EURIBOR 3M interest rate plus a margin. </span></div><div class=\"ps3194 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The EURIBOR interest rate has a floor of </span><span class=\"f charStyle-c1b8f9f6 ps10250\">0</span><span class=\"f charStyle-c1b8f9f6 ps10251\">bps and was </span><span class=\"f charStyle-c1b8f9f6 ps10252\">2.1%</span><span class=\"f charStyle-c1b8f9f6 ps10253\">, </span><span class=\"f charStyle-c1b8f9f6 ps10254\">2.9%</span><span class=\"f charStyle-c1b8f9f6 ps10255\"> and </span><span class=\"f charStyle-c1b8f9f6 ps10256\">3.9%</span><span class=\"f charStyle-c1b8f9f6 ps10257\"> at the end of </span><span class=\"f charStyle-c1b8f9f6 ps10258\">2025</span><span class=\"f charStyle-c1b8f9f6 ps10259\">, </span><span class=\"f charStyle-c1b8f9f6 ps10260\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10261\"> and </span></div><div class=\"ps7012 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10262\">, respectively. </span></div><div class=\"ps7754 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">If the EURIBOR interest rate increased </span><span class=\"f charStyle-c1b8f9f6 ps10263\">100bps</span><span class=\"f charStyle-c1b8f9f6 ps10264\">, and the loans had been provided throughout the entire </span><span class=\"f charStyle-c1b8f9f6 ps10265\">2025</span><span class=\"f charStyle-c1b8f9f6 ps10266\"> </span></div><div class=\"ps7755 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">reporting period, interest costs would have increased by </span><span class=\"f charStyle-c1b8f9f6 ps10267\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10268\"> </span><span class=\"f charStyle-c1b8f9f6 ps10269\">15.6 million</span><span class=\"f charStyle-c1b8f9f6 ps10270\"> (</span><span class=\"f charStyle-c1b8f9f6 ps10271\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10272\">: </span><span class=\"f charStyle-c1b8f9f6 ps10273\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10274\"> </span><span class=\"f charStyle-c1b8f9f6 ps10275\">5.9\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10276\">; </span><span class=\"f charStyle-c1b8f9f6 ps10277\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10278\">: </span><span class=\"f charStyle-c1b8f9f6 ps10279\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10280\"> </span></div><div class=\"ps10282 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">2.1\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10281\">). Such an increase could potentially qualify as capitalisable borrowing costs, thereby mitigating </span></div><div class=\"ps7016 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">the impact on the result before tax. Conversely, if the interest rates were to decrease, the result before tax </span></div><div class=\"ps7017 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">would not be materially affected due to the capitalisation of borrowing costs.</span></div><div class=\"ps10283 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Management and the Board of Directors evaluate the potential costs and benefits of fixed interest rate </span></div><div class=\"ps10285 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">borrowing</span><span class=\"f charStyle-c1b8f9f6 ps10284\">s on an ongoing basis.</span></div></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Credit risk<span id=\"if679800039c74b1ea6ede098b4004e4b\"></span></span></div><div class=\"ps8676 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Risk management<span id=\"ic761a30e8a4046648de8eb72c1862126\"></span></span></div><div class=\"ps8677 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in </span></div><div class=\"ps8678 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">financial loss to the Group. The Group adopts the following policies to mitigate credit risk.</span></div><div class=\"ps10286 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">For banks and financial institutions, the Group mitigates its credit risks by transacting only with </span></div><div class=\"ps10287 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">counterparties rated \u201cA\u201d or above by independent rating agencies.</span></div><div class=\"ps3362 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group adopts a policy of dealing only with customers with an appropriate credit history and obtaining </span></div><div class=\"ps3363 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">sufficient security where appropriate, to mitigate credit risk. The Group applies stringent procedures for </span></div><div class=\"ps3364 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">extending credit terms to customers and for the ongoing monitoring of credit risk.</span></div><div class=\"ps4562 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">These credit terms are normally contractual, and credit policies clearly define the guidelines for extending </span></div><div class=\"ps3366 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">credit to customers, including monitoring processes and reference to relevant industry practices. This </span></div><div class=\"ps9644 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">includes the assessment and evaluation of customers\u2019 creditworthiness and periodic reviews of their </span></div><div class=\"ps9645 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">financial status to determine the credit limits. Customers are also assessed based on their historical </span></div><div class=\"ps10288 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">payment behaviour. Where necessary, customers may be required to provide security or advance payments </span></div><div class=\"ps10289 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">before services are rendered.</span></div><div class=\"ps10290 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Related party credit risk is managed by the Executive Management of Cadeler and overseen by the Board </span></div><div class=\"ps10291 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">of Directors.</span></div><div class=\"ps4572 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The maximum exposure to credit risk is the carrying amount of trade receivables and other receivables, </span></div><div class=\"ps4573 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">receivables from group entities and cash and bank balances presented in the statement of financial </span></div><div class=\"ps4575 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">position.</span></div><div class=\"ps8676 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps2477\">Impairment of financial assets<span id=\"i3b70c7b829894e87a71fb465e6fd3d12\"></span></span></div><div class=\"ps8677 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">The Group assesses on a forward-looking basis the expected credit losses (ECLs) associated with its </span></div><div class=\"ps8678 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">financial assets which include trade and other receivables, cash and bank balances and contract assets. </span></div><div class=\"ps8679 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">Financial assets are written off when there is no reasonable expectation of recovery, such as when a non-</span></div><div class=\"ps8680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">related debtor fails to engage in a repayment plan with the Group.</span></div><div class=\"ps8681 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">Where receivables have been written off, the Group continues to pursue enforcement activities in an </span></div><div class=\"ps8682 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">attempt to recover amounts due. Where recoveries are made, these are recognised in profit or loss. As of </span></div><div class=\"ps8683 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">the reporting date, no receivables have been written off.</span></div><div class=\"ps3365 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">The Group has applied the simplified credit loss approach by using a provision matrix to measure the </span></div><div class=\"ps3200 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">lifetime expected credit losses for trade receivables from customers. To measure expected credit losses, the </span></div><div class=\"ps8685 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">Group groups receivables based on shared credit characteristics and days past due.</span></div><div class=\"ps9645 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">Trade receivables from external customers that are neither past due nor impaired are with creditworthy </span></div><div class=\"ps10288 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">counterparties. Based on the provision matrix, trade receivables from external customers are subject to </span></div><div class=\"ps10289 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">immaterial credit loss. For further analysis, refer to Note 16 for details on expected credit losses on trade </span></div><div class=\"ps10292 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">receivables and contract assets.</span></div><div class=\"ps10291 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">For cash and bank balances and other receivables measured at amortised cost, the Group considers these </span></div><div class=\"ps10293 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">financial assets to have low credit risk. Cash and bank balances mainly comprise deposits with banks that </span></div><div class=\"ps8704 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">have high credit ratings, as determined by international credit rating agencies. As of </span><span class=\"f charStyle-c1b8f9f6 ps10294\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10295\">, </span></div><div class=\"ps10298 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">cash and bank balances and other receivables are subject to immaterial credit loss. There is </span><span class=\"f charStyle-c1b8f9f6 ps10296\">no</span><span class=\"f charStyle-c1b8f9f6 ps10297\"> credit loss </span></div><div class=\"ps10305 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">allowance for other financial assets measured at amortised cost as of </span><span class=\"f charStyle-c1b8f9f6 ps10299\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10300\">, </span><span class=\"f charStyle-c1b8f9f6 ps10301\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10302\"> and </span><span class=\"f charStyle-c1b8f9f6 ps10303\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10304\">.</span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Liquidity risk<span id=\"idfe3fde434fa473fb4f013dfa8994309\"></span></span></div><div class=\"ps369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group manages liquidity risk by maintaining sufficient cash and access to funding through committed </span></div><div class=\"ps370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">credit facilities to enabling it to meet its operational requirements and instalments payments for the </span></div><div class=\"ps397 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">contracted newbuild vessels. </span></div><div class=\"ps372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The management of the Cadeler Group anticipates seeking additional debt financing in connection with </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">milestone payments related to the delivery of the third A-class newbuild vessel. For further details, please </span></div><div class=\"ps374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">refer to </span><span class=\"f charStyle-c1b8f9f6 ps10307\">Note 25,</span><span class=\"f charStyle-c1b8f9f6 ps10308\"> which provides a detailed disclosure of the Group\u2019s existing credit</span><span class=\"f charStyle-c1b8f9f6 ps10309\"> facilities. </span></div><div class=\"ps10310 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The following maturity table shows the contractual obligation relating to the construction of the newbuilds </span></div><div class=\"ps10311 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">vessels.</span></div><div class=\"ps7512 ss0\"><div class=\"ss193 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=\"ps37 ss733\"><div><div class=\"ps8191 ss732\"><span class=\"f charStyle-4979afbe ps39\">EUR Millions<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10315 ss734\"><div><div class=\"ps5628 ss203\"><span class=\"f charStyle-281247bf ps10313\">Less than 1 <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss203\"><span class=\"f charStyle-281247bf ps10314\">year</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10318 ss734\"><div><div class=\"ps5628 ss203\"><span class=\"f charStyle-281247bf ps10316\">Between 1 <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss203\"><span class=\"f charStyle-281247bf ps10317\">and 2 years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10319 ss734\"><div><div class=\"ps5628 ss203\"><span class=\"f charStyle-281247bf ps10316\">Between 2 <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss203\"><span class=\"f charStyle-281247bf ps10317\">and 5 years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2253 ss734\"><div><div class=\"ps5627 ss203\"><span class=\"f charStyle-281247bf ps10320\">Total<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps1987 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-b07b4361 ps39\">2025<span class=\"f ps40\"> </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=\"ps6218 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in USD<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10322 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">301</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10323 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">195</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10325 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.97pt\"></span></span><span class=\"ps10324\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10326 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">496</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"padding:0\"><div class=\"ps5518 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in USD (in EUR)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10327 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">256</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10328 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">166</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10329 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.97pt\"></span></span><span class=\"ps10324\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10330 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">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=\"ps767 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in EUR<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10331 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">40</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10332 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.97pt\"></span></span><span class=\"ps10324\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10333 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.97pt\"></span></span><span class=\"ps10324\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10334 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">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=\"ps2892 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-23b55a92 ps39\">Total obligations (in EUR)<span class=\"f ps40\"> </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=\"ps10336 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">296</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=\"ps10337 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">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=\"ps10338 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.97pt\"></span></span><span class=\"ps10324\">\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=\"ps10339 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">462</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2210 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-b07b4361 ps39\">2024<span class=\"f ps40\"> </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=\"ps5593 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in USD<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10340 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">651</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10341 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">496</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10342 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">195</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10344 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.62pt\"></span></span><span class=\"ps10343\">1,342</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"padding:0\"><div class=\"ps9509 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in USD (in EUR)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10345 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">626</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10346 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">476</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10347 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">188</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10348 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.62pt\"></span></span><span class=\"ps10343\">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=\"ps6438 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in EUR<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10349 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">65</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10350 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">40</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10351 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.97pt\"></span></span><span class=\"ps10324\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10352 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">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=\"ps5551 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-23b55a92 ps39\">Total obligations (in EUR)<span class=\"f ps40\"> </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=\"ps10353 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">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=\"ps10354 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">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=\"ps10355 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">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=\"ps10357 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.86pt\"></span></span><span class=\"ps10356\">1,395</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2912 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-b07b4361 ps39\">2023<span class=\"f ps40\"> </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=\"ps10358 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in USD<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10359 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">328</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10360 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">833</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10361 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">180</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10362 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.62pt\"></span></span><span class=\"ps10343\">1,341</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"padding:0\"><div class=\"ps3787 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in USD (in EUR)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10363 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">296</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10364 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">752</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10365 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">163</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10366 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.62pt\"></span></span><span class=\"ps10343\">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=\"ps9283 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in EUR<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10367 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">69</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10368 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">99</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10370 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.12pt\"></span></span><span class=\"ps10369\">6</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10371 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">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=\"ps6468 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-23b55a92 ps39\">Total obligations (in EUR)<span class=\"f ps40\"> </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=\"ps10372 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">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=\"ps10373 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">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=\"ps10374 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">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=\"ps10375 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.86pt\"></span></span><span class=\"ps10356\">1,385</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The table below analyses the maturity profile of the Company\u2019s financial liabilities based on contractual-</span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">undiscounted cash flows, excluding payments relating to newbuild vessels.</span></div><div class=\"ps10471 ss0\"><div class=\"ss176 ws0 ps67\"><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=\"ps37 ss737\"><div><div class=\"ps10377 ss361\"><span class=\"f charStyle-4979afbe ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10380 ss738\"><div><div class=\"ps7489 ss147\"><span class=\"f charStyle-281247bf ps10378\">Less than 1 <span class=\"f ps40\"> </span></span></div><div class=\"ps7490 ss147\"><span class=\"f charStyle-281247bf ps10379\">year</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7532 ss738\"><div><div class=\"ps7489 ss147\"><span class=\"f charStyle-281247bf ps10381\">Between 1 <span class=\"f ps40\"> </span></span></div><div class=\"ps7490 ss147\"><span class=\"f charStyle-281247bf ps10382\">and 2 years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10385 ss738\"><div><div class=\"ps7489 ss147\"><span class=\"f charStyle-281247bf ps10383\">After 2 <span class=\"f ps40\"> </span></span></div><div class=\"ps7490 ss147\"><span class=\"f charStyle-281247bf ps10384\">years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6049 ss738\"><div><div class=\"ps7469 ss147\"><span class=\"f charStyle-281247bf ps10386\">Total<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5143 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-b07b4361 ps39\">2025<span class=\"f ps40\"> </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=\"ps10387 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Trade and other payables<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10389 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">98,208</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10391 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10392 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10393 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">98,208</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps10394 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Payables to related parties<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10396 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">272</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10397 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10398 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10399 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">272</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps9223 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Lease liabilities<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10401 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">1,851</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10402 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">2,819</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10403 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">8,868</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10404 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">13,538</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps2302 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Debt to credit institutions<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10406 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">194,548</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10407 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">247,706</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10409 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:12.37pt\"></span></span><span class=\"ps10408\">1,607,212</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10410 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:12.37pt\"></span></span><span class=\"ps10408\">2,049,466</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps10411 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Derivatives<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10412 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">3,062</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10413 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">1,884</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10414 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">8,770</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10415 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">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=\"ps10417 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.77pt\"></span></span><span class=\"ps10416\">297,941</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10418 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.77pt\"></span></span><span class=\"ps10416\">252,409</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10419 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:9.17pt\"></span></span><span class=\"ps9470\">1,624,850</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8651 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:9.17pt\"></span></span><span class=\"ps9470\">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=\"ps2016 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-b07b4361 ps39\">2024<span class=\"f ps40\"> </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=\"ps6357 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Trade and other payables<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10420 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">43,595</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10421 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10422 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10423 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">43,595</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps6362 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Payables to related parties<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10424 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">223</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10425 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10426 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10427 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">223</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps2220 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Lease liabilities<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10428 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">1,274</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10429 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">2,337</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10430 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">7,360</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10431 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">10,971</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps685 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Debt to credit institutions<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10432 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">31,163</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10433 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">54,339</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10434 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">485,515</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10435 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">571,017</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps2111 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Derivatives<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10436 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">209</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10437 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10438 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">16,205</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10439 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">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=\"ps10441 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.94pt\"></span></span><span class=\"ps10440\">76,464</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10442 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.94pt\"></span></span><span class=\"ps10440\">56,676</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10443 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.77pt\"></span></span><span class=\"ps10416\">509,080</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10444 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.77pt\"></span></span><span class=\"ps10416\">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=\"ps6842 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-b07b4361 ps39\">2023<span class=\"f ps40\"> </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=\"ps6021 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Trade and other payables<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10445 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">32,636</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10446 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10447 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10448 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">32,636</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps10449 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Payables to related parties<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10450 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">162</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10451 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10452 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10453 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">162</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps6178 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Lease liabilities<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10454 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">601</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10455 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">392</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10456 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10457 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">993</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps9969 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Debt to credit institutions<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10458 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">799</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10459 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10460 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">204,773</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10461 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">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=\"ps10462 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Derivatives<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10463 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">4,004</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10464 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">5,683</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10465 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">12,274</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10466 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">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=\"ps10467 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.94pt\"></span></span><span class=\"ps10440\">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=\"ps10468 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.11pt\"></span></span><span class=\"ps4617\">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=\"ps10469 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.77pt\"></span></span><span class=\"ps10416\">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=\"ps10470 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.77pt\"></span></span><span class=\"ps10416\">261,324</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-644c6314 ps1006\">Change in debts to credit institutions during the year</span></div><div class=\"ps10494 ss0\"><div class=\"ss176 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=\"ps37 ss740\"><div><div class=\"ps7618 ss598\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7532 ss741\"><div><div class=\"ps4441 ss147\"><span class=\"f charStyle-281247bf ps6086\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10385 ss741\"><div><div class=\"ps4441 ss147\"><span class=\"f charStyle-054ead99 ps6086\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6049 ss741\"><div><div class=\"ps4441 ss147\"><span class=\"f charStyle-054ead99 ps6086\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps439 ss740\"><div><div class=\"ps435 ss598\"><span class=\"f charStyle-1bac868e ps630\">Debt to credit institutions at 1 January<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10474 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10473\">(571,017)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10475 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10473\">(205,572)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7731 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10473\">(115,002)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps460 ss740\"><div><div class=\"ps435 ss598\"><span class=\"f charStyle-1bac868e ps630\">Loans repayments<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10476 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">279,281</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10477 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">10,630</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7734 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">115,000</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5518 ss740\"><div><div class=\"ps435 ss598\"><span class=\"f charStyle-1bac868e ps630\">Proceeds from borrowing<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10479 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:6.95pt\"></span></span><span class=\"ps10478\">(1,337,178)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10480 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10473\">(385,234)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7738 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10473\">(211,934)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5527 ss740\"><div><div class=\"ps435 ss598\"><span class=\"f charStyle-1bac868e ps630\">New loan fees<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10481 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">25,193</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10482 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">11,100</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7740 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">8,262</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5532 ss740\"><div><div class=\"ps435 ss598\"><span class=\"f charStyle-1bac868e ps630\">Non-cash movements<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10484 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10483\">(7,033)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10485 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10483\">(1,941)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7743 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5537 ss740\"><div><div class=\"ps435 ss598\"><span class=\"f charStyle-1bac868e ps630\">Write-off of loan fees<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10486 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10487 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10488 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10483\">(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=\"ps59 ss740\"><div><div class=\"ps435 ss598\"><span class=\"f charStyle-b07b4361 ps39\">Debt to credit institutions at 31 December 2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10490 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:2.53pt\"></span></span><span class=\"ps10489\">(1,610,754)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10492 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:10.13pt\"></span></span><span class=\"ps10491\">(571,017)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10493 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:10.13pt\"></span></span><span class=\"ps10491\">(205,572)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Capital management<span id=\"i025d8568241546d6b01fee9b47d8e40f\"></span></span></div><div class=\"ps369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Company\u2019s objectives when managing capital are to ensure the </span></div><div class=\"ps370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Company\u2019s ability to continue as a going concern and to maintain an </span></div><div class=\"ps397 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">optimal capital structure.</span></div><div class=\"ps372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In order to achieve this overall objective, the Company\u2019s capital </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">management aims, among other things, to ensure compliance wth </span></div><div class=\"ps374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the financial covenants attached to the interest-bearing loans and </span></div><div class=\"ps375 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">borrowings that define capital structure requirements. A breach of </span></div><div class=\"ps376 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the financial covenants would permit the bank to immediately call </span></div><div class=\"ps398 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">loans and borrowings. There have been no breaches of the financial </span></div><div class=\"ps399 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">covenants of any interest-bearing loans and borrowing in the current </span></div><div class=\"ps10507 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">period.</span></div><div class=\"ps380 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In order to maintain or adjust the capital structure in the future, the </span></div><div class=\"ps381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Group may adjust dividend payments to shareholders, issue new </span></div><div class=\"ps400 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">shares and/or dispose of assets to reduce debt. Pursuant to the </span></div><div class=\"ps426 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Green Corporate Facility, the Company is not permitted to pay any </span></div><div class=\"ps427 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">dividends or other distributions without the prior written consent of </span></div><div class=\"ps428 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">DNB Bank ASA.</span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps879\">Fair value measurement<span id=\"ide79311c8cde4f88ab294fa6177f27b8\"></span></span></div><div class=\"ps369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">The Group measures derivatives at fair value at each balance sheet </span></div><div class=\"ps370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">date. Fair value is the price that would be received to sell an asset or </span></div><div class=\"ps397 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">paid to transfer a liability in an orderly transaction between market </span></div><div class=\"ps7437 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">participants at the balance sheet date. </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">The principal, or in its absence the most advantageous market must </span></div><div class=\"ps374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">be accessible by the Group. The fair value of an asset or liability is </span></div><div class=\"ps375 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">measured using the assumptions that market participants would use </span></div><div class=\"ps376 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">when pricing the asset or liability, assuming that market participants </span></div><div class=\"ps398 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">act in their own economic best interest.</span></div><div class=\"ps378 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">In measuring the fair value of unlisted derivative financial instruments </span></div><div class=\"ps379 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">and other financial instruments for which there is no active market, </span></div><div class=\"ps380 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">fair value is determined using generally accepted valuation </span></div><div class=\"ps381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">techniques. Market-based parameters such as market-based yield </span></div><div class=\"ps400 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">curves and forward exchange rate are used for the valuation.</span></div><div class=\"ps383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">The Group uses valuation techniques that are appropriate in the </span></div><div class=\"ps401 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">circumstances and for which sufficient data is available to measure </span></div><div class=\"ps402 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">fair value, maximising the use of relevant observable inputs and </span></div><div class=\"ps403 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">minimising the use of unobservable inputs.</span></div><div class=\"ps416 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Financial instruments for which fair value is measured or disclosed in </span></div><div class=\"ps417 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">the financial statements are categorised within the fair value </span></div><div class=\"ps418 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">hierarchy, as described below:</span></div><div class=\"ps5466 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Level 1: The fair value of financial instruments traded in active markets </span></div><div class=\"ps5467 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">(such as publicly traded derivatives, and equity securities) is based on </span></div><div class=\"ps5468 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">quoted market prices at the end of the reporting period. The quoted </span></div><div class=\"ps422 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">market price used for financial assets held by the Group is the current </span></div><div class=\"ps423 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">bid price. These instruments are included in level 1. </span></div><div class=\"ps7070 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Level 2: The fair value of financial instruments that are not traded in </span></div><div class=\"ps7071 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">an active market (e.g. over-the counter derivatives) is determined </span></div><div class=\"ps7072 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">using valuation techniques that maximise the use of observable </span></div><div class=\"ps7073 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">market data and rely as little as possible on entity-specific estimates. </span></div><div class=\"ps5472 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">The valuation techniques applied are primarily based on marked-</span></div><div class=\"ps5473 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">based inputs of the instruments. If all significant inputs required to </span></div><div class=\"ps5474 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">measure the fair value of an instrument are observable, the </span></div><div class=\"ps5475 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">instrument is included in Level 2.</span></div><div class=\"ps10508 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Level 3: If one or more of the significant inputs is not observable </span></div><div class=\"ps10509 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">market data, the instrument is included in Level 3.</span></div><div class=\"ps10510 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">The table below shows the fair value measurement of the Group\u2019s </span></div><div class=\"ps10511 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">assets and liabilities:</span></div><div class=\"ps7512 ss0\"><div class=\"ss193 ws0 ps67\"><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=\"ps37 ss742\"><div><div class=\"ps7618 ss697\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9576 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-281247bf ps3737\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps9577 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-054ead99 ps3737\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5310 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-054ead99 ps3737\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps439 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-b07b4361 ps39\">Derivative assets measured at fair value<span class=\"f ps40\"> </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=\"ps460 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-1bac868e ps630\">Interest from IRS recycled through OCI<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10514 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10515 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">228</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10516 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5518 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-1bac868e ps630\">Interest rate swaps<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10517 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">2,171</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10518 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">1,287</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10519 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">338</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5527 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-1bac868e ps630\">FX forward contracts<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10520 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">511</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10521 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">6,849</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10522 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5532 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-1bac868e ps630\">FX option collars<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10523 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10524 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">4,764</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10525 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5537 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-1bac868e ps630\">Time value of FX option collars through OCI<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10526 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10527 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">5,340</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10528 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps59 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-b07b4361 ps39\">Total derivative assets<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10529 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:42.86pt\"></span></span><span class=\"ps6090\">2,682</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10530 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7299\">18,468</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10531 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.46pt\"></span></span><span class=\"ps9601\">338</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5171 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-b07b4361 ps39\">Derivative liabilities measured at fair value<span class=\"f ps40\"> </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=\"ps5545 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-1bac868e ps630\">Interest rate swap<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10532 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7268\">10,499</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10533 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7268\">16,231</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10534 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.77pt\"></span></span><span class=\"ps7268\">11,789</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5550 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-1bac868e ps630\">FX forward contracts<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10535 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10536 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10537 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">5,338</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5551 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-1bac868e ps630\">Interest recycled through OCI<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10538 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">525</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10539 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10540 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">810</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5557 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-1bac868e ps630\">Time value of FX option collars through OCI<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10541 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">576</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10542 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">209</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10543 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">3,621</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps4019 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-1bac868e ps630\">Derivatives ineffective hedges<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10544 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.62pt\"></span></span><span class=\"ps7286\">2,116</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10545 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.85pt\"></span></span><span class=\"ps9592\">(26)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10546 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.42pt\"></span></span><span class=\"ps9580\">403</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5564 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-b07b4361 ps39\">Total derivative liabilities<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10547 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7299\">13,716</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10548 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7299\">16,414</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10549 ss301\"><div><div class=\"ps4441 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.69pt\"></span></span><span class=\"ps7299\">21,961</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">As of </span><span class=\"f charStyle-c1b8f9f6 ps9662\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps9663\">, the fair value of the derivative assets amounted to </span><span class=\"f charStyle-c1b8f9f6 ps10551\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10552\"> </span><span class=\"f charStyle-c1b8f9f6 ps10553\">2,682 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10554\"> (</span><span class=\"f charStyle-c1b8f9f6 ps10555\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10556\">: </span><span class=\"f charStyle-c1b8f9f6 ps10557\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10558\"> </span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">18,468 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10559\">; </span><span class=\"f charStyle-c1b8f9f6 ps10560\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10561\">: EUR </span><span class=\"f charStyle-c1b8f9f6 ps10562\">338 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10563\">) and derivative liabilities amounted to </span><span class=\"f charStyle-c1b8f9f6 ps10564\">13,716 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10565\"> (</span><span class=\"f charStyle-c1b8f9f6 ps10566\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10567\">: </span><span class=\"f charStyle-c1b8f9f6 ps10568\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10569\"> </span></div><div class=\"ps7161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">16,414 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10570\">; </span><span class=\"f charStyle-c1b8f9f6 ps10571\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10572\">: </span><span class=\"f charStyle-c1b8f9f6 ps10573\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10574\"> </span><span class=\"f charStyle-c1b8f9f6 ps10575\">21,961 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10576\">). The variation primarily reflects the execution of certain </span></div><div class=\"ps7164 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">financial instruments, together with changes in interest rate expectations in 2025 compared to 2024. These </span></div><div class=\"ps7578 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">expectations were driven by more persistent inflation and continued economic resilience, resulting in higher </span></div><div class=\"ps7579 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">interest rates and a stronger USD.</span></div><div class=\"ps7118 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">As of </span><span class=\"f charStyle-c1b8f9f6 ps9662\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps9663\">, derivatives measured at fair value through profit or loss amounted to a gain of </span></div><div class=\"ps7119 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps9078\"> </span><span class=\"f charStyle-c1b8f9f6 ps9079\">2,116 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10577\"> gain (</span><span class=\"f charStyle-c1b8f9f6 ps10578\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10579\">: </span><span class=\"f charStyle-c1b8f9f6 ps10580\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10581\"> </span><span class=\"f charStyle-c1b8f9f6 ps10582\">26 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10583\"> loss; </span><span class=\"f charStyle-c1b8f9f6 ps10584\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10585\">: </span><span class=\"f charStyle-c1b8f9f6 ps10586\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10587\"> </span><span class=\"f charStyle-c1b8f9f6 ps10588\">403 thousand</span><span class=\"f charStyle-c1b8f9f6 ps10589\"> 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-589": {
   "value": "<div class=\"ps7048 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-1819d385 ps183\">Quantitative and qualitative disclosures about market risk<span id=\"iea4977ea99a24a699f8a60be68581ddb\"></span></span></div><div class=\"ps10195 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Currency risk<span id=\"i172af3f680244f5d8fd11575933bbbc8\"></span></span></div><div class=\"ps10196 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group\u2019s business is exposed to the Danish Kroner (\u201cDKK\u201d), Norwegian Kroner (\u201cNOK\u201d), British Pound </span></div><div class=\"ps10197 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Sterling (\u201cGBP\u201d), United States Dollar (\u201cUSD\u201d), New Taiwan Dollar (\u201cTWD\u201d), and Japanese Yen (\u201cJPY\u201d), as </span></div><div class=\"ps10198 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">certain operating expenses are denominated in these currencies. The Company seeks to use financial </span></div><div class=\"ps7053 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">instruments to reduce currency risk when there is significant exposure to income or liabilities denominated </span></div><div class=\"ps7054 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">in currencies other than EUR or DKK, and where a cost-effective solution is available.</span></div><div class=\"ps10201 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-296ed202 ps183\">The functional currency of Cadeler A/S is </span><span class=\"f charStyle-296ed202 ps10199\">EUR</span><span class=\"f charStyle-296ed202 ps10200\">, while the largest currency exposure of the Group relates to </span></div><div class=\"ps10205 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-296ed202 ps183\">future instalments for newbuild vessels, denominated in USD, amounting to </span><span class=\"f charStyle-296ed202 ps10202\">USD </span><span class=\"f charStyle-296ed202 ps10203\">496\u00a0million</span><span class=\"f charStyle-296ed202 ps10204\">. Further details </span></div><div class=\"ps10206 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-296ed202 ps183\">regarding the instruments currently used to mitigate this currency risk are provided in Note 24. Management </span></div><div class=\"ps10207 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-296ed202 ps183\">and the Board of Directors evaluate the potential costs and benefits of currency exposure on an ongoing basis.</span></div><div class=\"ps10211 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">T</span><span class=\"f charStyle-c1b8f9f6 ps8964\">he Group holds cash balances in USD. If the USD:</span><span class=\"f charStyle-c1b8f9f6 ps1124\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10208\"> exchange rate were to deteriorate by </span><span class=\"f charStyle-c1b8f9f6 ps10209\">10%</span><span class=\"f charStyle-c1b8f9f6 ps10210\"> the result </span></div><div class=\"ps10227 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">before tax would have decreased by </span><span class=\"f charStyle-c1b8f9f6 ps10212\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10213\"> </span><span class=\"f charStyle-c1b8f9f6 ps10214\">1.6</span><span class=\"f charStyle-c1b8f9f6 ps10215\"> million (</span><span class=\"f charStyle-c1b8f9f6 ps10216\">2024</span><span class=\"f charStyle-c1b8f9f6 ps7352\">: </span><span class=\"f charStyle-c1b8f9f6 ps10217\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10218\"> </span><span class=\"f charStyle-c1b8f9f6 ps10219\">1.8\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10220\">; </span><span class=\"f charStyle-c1b8f9f6 ps10221\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10222\">: </span><span class=\"f charStyle-c1b8f9f6 ps10223\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10224\"> </span><span class=\"f charStyle-c1b8f9f6 ps10225\">4.6\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10226\">), based on </span></div><div class=\"ps3208 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">USD cash holdings as of </span><span class=\"f charStyle-c1b8f9f6 ps10228\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10229\">.</span></div><div class=\"ps3281 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group holds cash balances in GBP. If the GBP:</span><span class=\"f charStyle-c1b8f9f6 ps10230\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10231\"> exchange rate were to deteriorate by </span><span class=\"f charStyle-c1b8f9f6 ps10232\">10%</span><span class=\"f charStyle-c1b8f9f6 ps10233\"> the result </span></div><div class=\"ps3282 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">before tax would have decreased by </span><span class=\"f charStyle-c1b8f9f6 ps10212\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10213\"> </span><span class=\"f charStyle-c1b8f9f6 ps10214\">0.4</span><span class=\"f charStyle-c1b8f9f6 ps10234\"> </span><span class=\"f charStyle-c1b8f9f6 ps10235\">million (</span><span class=\"f charStyle-c1b8f9f6 ps10236\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10237\">: </span><span class=\"f charStyle-c1b8f9f6 ps10238\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10239\"> </span><span class=\"f charStyle-c1b8f9f6 ps10240\">0.7\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10241\">) based on GBP cash holdings as </span></div><div class=\"ps3283 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">of </span><span class=\"f charStyle-c1b8f9f6 ps10242\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10243\">.</span></div><div class=\"ps2697 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-616c3f6a ps183\">As the DKK is pegged to the </span><span class=\"f charStyle-616c3f6a ps10244\">EUR</span><span class=\"f charStyle-616c3f6a ps10245\">, no material currency risk has been identified in relation to the DKK, despite the </span></div><div class=\"ps2698 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-616c3f6a ps183\">Cadeler Group incurring costs denominated in DKK. As of </span><span class=\"f charStyle-616c3f6a ps10246\">31\u00a0December 2025</span><span class=\"f charStyle-616c3f6a ps10247\">, the Cadeler Group did not hold any </span></div><div class=\"ps2699 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-616c3f6a ps183\">material cash balances denominated in NOK, JPY, or TWD.</span></div><div class=\"ps10248 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Currency risk associated with other financial instruments denominated in foriegn currencies is limited and </span></div><div class=\"ps10249 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">therefore excluded from this analysis. </span></div><div class=\"ps10190 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Interest rate risk<span id=\"i4a97714972f94b6d96c9ce5a4f4eb971\"></span></span></div><div class=\"ps10191 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The Group\u2019s current exposure to the risk of changes in market interest rates relates primarily to the Green </span></div><div class=\"ps10192 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Corporate Facility, the P-class Facility, M-class Facility and Holdco Facility. Further details regarding the </span></div><div class=\"ps7752 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">hedging instruments used to mitigate this risk are provided in Note 24.</span></div><div class=\"ps7011 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The Green Corporate Facility and Holdco Facility are based on a EURIBOR 3M interest rate plus a margin. </span></div><div class=\"ps3194 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The EURIBOR interest rate has a floor of </span><span class=\"f charStyle-c1b8f9f6 ps10250\">0</span><span class=\"f charStyle-c1b8f9f6 ps10251\">bps and was </span><span class=\"f charStyle-c1b8f9f6 ps10252\">2.1%</span><span class=\"f charStyle-c1b8f9f6 ps10253\">, </span><span class=\"f charStyle-c1b8f9f6 ps10254\">2.9%</span><span class=\"f charStyle-c1b8f9f6 ps10255\"> and </span><span class=\"f charStyle-c1b8f9f6 ps10256\">3.9%</span><span class=\"f charStyle-c1b8f9f6 ps10257\"> at the end of </span><span class=\"f charStyle-c1b8f9f6 ps10258\">2025</span><span class=\"f charStyle-c1b8f9f6 ps10259\">, </span><span class=\"f charStyle-c1b8f9f6 ps10260\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10261\"> and </span></div><div class=\"ps7012 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10262\">, respectively. </span></div><div class=\"ps7754 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">If the EURIBOR interest rate increased </span><span class=\"f charStyle-c1b8f9f6 ps10263\">100bps</span><span class=\"f charStyle-c1b8f9f6 ps10264\">, and the loans had been provided throughout the entire </span><span class=\"f charStyle-c1b8f9f6 ps10265\">2025</span><span class=\"f charStyle-c1b8f9f6 ps10266\"> </span></div><div class=\"ps7755 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">reporting period, interest costs would have increased by </span><span class=\"f charStyle-c1b8f9f6 ps10267\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10268\"> </span><span class=\"f charStyle-c1b8f9f6 ps10269\">15.6 million</span><span class=\"f charStyle-c1b8f9f6 ps10270\"> (</span><span class=\"f charStyle-c1b8f9f6 ps10271\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10272\">: </span><span class=\"f charStyle-c1b8f9f6 ps10273\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10274\"> </span><span class=\"f charStyle-c1b8f9f6 ps10275\">5.9\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10276\">; </span><span class=\"f charStyle-c1b8f9f6 ps10277\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10278\">: </span><span class=\"f charStyle-c1b8f9f6 ps10279\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10280\"> </span></div><div class=\"ps10282 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">2.1\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10281\">). Such an increase could potentially qualify as capitalisable borrowing costs, thereby mitigating </span></div><div class=\"ps7016 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">the impact on the result before tax. Conversely, if the interest rates were to decrease, the result before tax </span></div><div class=\"ps7017 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">would not be materially affected due to the capitalisation of borrowing costs.</span></div><div class=\"ps10283 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Management and the Board of Directors evaluate the potential costs and benefits of fixed interest rate </span></div><div class=\"ps10285 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">borrowing</span><span class=\"f charStyle-c1b8f9f6 ps10284\">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-590": {
   "value": "<div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Credit risk<span id=\"if679800039c74b1ea6ede098b4004e4b\"></span></span></div><div class=\"ps8676 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Risk management<span id=\"ic761a30e8a4046648de8eb72c1862126\"></span></span></div><div class=\"ps8677 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in </span></div><div class=\"ps8678 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">financial loss to the Group. The Group adopts the following policies to mitigate credit risk.</span></div><div class=\"ps10286 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">For banks and financial institutions, the Group mitigates its credit risks by transacting only with </span></div><div class=\"ps10287 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">counterparties rated \u201cA\u201d or above by independent rating agencies.</span></div><div class=\"ps3362 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group adopts a policy of dealing only with customers with an appropriate credit history and obtaining </span></div><div class=\"ps3363 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">sufficient security where appropriate, to mitigate credit risk. The Group applies stringent procedures for </span></div><div class=\"ps3364 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">extending credit terms to customers and for the ongoing monitoring of credit risk.</span></div><div class=\"ps4562 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">These credit terms are normally contractual, and credit policies clearly define the guidelines for extending </span></div><div class=\"ps3366 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">credit to customers, including monitoring processes and reference to relevant industry practices. This </span></div><div class=\"ps9644 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">includes the assessment and evaluation of customers\u2019 creditworthiness and periodic reviews of their </span></div><div class=\"ps9645 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">financial status to determine the credit limits. Customers are also assessed based on their historical </span></div><div class=\"ps10288 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">payment behaviour. Where necessary, customers may be required to provide security or advance payments </span></div><div class=\"ps10289 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">before services are rendered.</span></div><div class=\"ps10290 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Related party credit risk is managed by the Executive Management of Cadeler and overseen by the Board </span></div><div class=\"ps10291 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">of Directors.</span></div><div class=\"ps4572 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The maximum exposure to credit risk is the carrying amount of trade receivables and other receivables, </span></div><div class=\"ps4573 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">receivables from group entities and cash and bank balances presented in the statement of financial </span></div><div class=\"ps4575 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">position.</span></div><div class=\"ps8676 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps2477\">Impairment of financial assets<span id=\"i3b70c7b829894e87a71fb465e6fd3d12\"></span></span></div><div class=\"ps8677 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">The Group assesses on a forward-looking basis the expected credit losses (ECLs) associated with its </span></div><div class=\"ps8678 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">financial assets which include trade and other receivables, cash and bank balances and contract assets. </span></div><div class=\"ps8679 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">Financial assets are written off when there is no reasonable expectation of recovery, such as when a non-</span></div><div class=\"ps8680 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">related debtor fails to engage in a repayment plan with the Group.</span></div><div class=\"ps8681 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">Where receivables have been written off, the Group continues to pursue enforcement activities in an </span></div><div class=\"ps8682 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">attempt to recover amounts due. Where recoveries are made, these are recognised in profit or loss. As of </span></div><div class=\"ps8683 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">the reporting date, no receivables have been written off.</span></div><div class=\"ps3365 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">The Group has applied the simplified credit loss approach by using a provision matrix to measure the </span></div><div class=\"ps3200 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">lifetime expected credit losses for trade receivables from customers. To measure expected credit losses, the </span></div><div class=\"ps8685 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">Group groups receivables based on shared credit characteristics and days past due.</span></div><div class=\"ps9645 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">Trade receivables from external customers that are neither past due nor impaired are with creditworthy </span></div><div class=\"ps10288 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">counterparties. Based on the provision matrix, trade receivables from external customers are subject to </span></div><div class=\"ps10289 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">immaterial credit loss. For further analysis, refer to Note 16 for details on expected credit losses on trade </span></div><div class=\"ps10292 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">receivables and contract assets.</span></div><div class=\"ps10291 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">For cash and bank balances and other receivables measured at amortised cost, the Group considers these </span></div><div class=\"ps10293 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">financial assets to have low credit risk. Cash and bank balances mainly comprise deposits with banks that </span></div><div class=\"ps8704 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">have high credit ratings, as determined by international credit rating agencies. As of </span><span class=\"f charStyle-c1b8f9f6 ps10294\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10295\">, </span></div><div class=\"ps10298 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">cash and bank balances and other receivables are subject to immaterial credit loss. There is </span><span class=\"f charStyle-c1b8f9f6 ps10296\">no</span><span class=\"f charStyle-c1b8f9f6 ps10297\"> credit loss </span></div><div class=\"ps10305 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2477\">allowance for other financial assets measured at amortised cost as of </span><span class=\"f charStyle-c1b8f9f6 ps10299\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps10300\">, </span><span class=\"f charStyle-c1b8f9f6 ps10301\">2024</span><span class=\"f charStyle-c1b8f9f6 ps10302\"> and </span><span class=\"f charStyle-c1b8f9f6 ps10303\">2023</span><span class=\"f charStyle-c1b8f9f6 ps10304\">.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-591": {
   "value": "<div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Liquidity risk<span id=\"idfe3fde434fa473fb4f013dfa8994309\"></span></span></div><div class=\"ps369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group manages liquidity risk by maintaining sufficient cash and access to funding through committed </span></div><div class=\"ps370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">credit facilities to enabling it to meet its operational requirements and instalments payments for the </span></div><div class=\"ps397 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">contracted newbuild vessels. </span></div><div class=\"ps372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The management of the Cadeler Group anticipates seeking additional debt financing in connection with </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">milestone payments related to the delivery of the third A-class newbuild vessel. For further details, please </span></div><div class=\"ps374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">refer to </span><span class=\"f charStyle-c1b8f9f6 ps10307\">Note 25,</span><span class=\"f charStyle-c1b8f9f6 ps10308\"> which provides a detailed disclosure of the Group\u2019s existing credit</span><span class=\"f charStyle-c1b8f9f6 ps10309\"> facilities. </span></div><div class=\"ps10310 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The following maturity table shows the contractual obligation relating to the construction of the newbuilds </span></div><div class=\"ps10311 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">vessels.</span></div><div class=\"ps7512 ss0\"><div class=\"ss193 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=\"ps37 ss733\"><div><div class=\"ps8191 ss732\"><span class=\"f charStyle-4979afbe ps39\">EUR Millions<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10315 ss734\"><div><div class=\"ps5628 ss203\"><span class=\"f charStyle-281247bf ps10313\">Less than 1 <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss203\"><span class=\"f charStyle-281247bf ps10314\">year</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10318 ss734\"><div><div class=\"ps5628 ss203\"><span class=\"f charStyle-281247bf ps10316\">Between 1 <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss203\"><span class=\"f charStyle-281247bf ps10317\">and 2 years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10319 ss734\"><div><div class=\"ps5628 ss203\"><span class=\"f charStyle-281247bf ps10316\">Between 2 <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss203\"><span class=\"f charStyle-281247bf ps10317\">and 5 years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2253 ss734\"><div><div class=\"ps5627 ss203\"><span class=\"f charStyle-281247bf ps10320\">Total<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps1987 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-b07b4361 ps39\">2025<span class=\"f ps40\"> </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=\"ps6218 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in USD<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10322 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">301</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10323 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">195</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10325 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.97pt\"></span></span><span class=\"ps10324\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10326 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">496</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"padding:0\"><div class=\"ps5518 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in USD (in EUR)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10327 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">256</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10328 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">166</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10329 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.97pt\"></span></span><span class=\"ps10324\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10330 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">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=\"ps767 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in EUR<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10331 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">40</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10332 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.97pt\"></span></span><span class=\"ps10324\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10333 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.97pt\"></span></span><span class=\"ps10324\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10334 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">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=\"ps2892 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-23b55a92 ps39\">Total obligations (in EUR)<span class=\"f ps40\"> </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=\"ps10336 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">296</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=\"ps10337 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">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=\"ps10338 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.97pt\"></span></span><span class=\"ps10324\">\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=\"ps10339 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">462</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2210 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-b07b4361 ps39\">2024<span class=\"f ps40\"> </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=\"ps5593 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in USD<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10340 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">651</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10341 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">496</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10342 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">195</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10344 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.62pt\"></span></span><span class=\"ps10343\">1,342</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"padding:0\"><div class=\"ps9509 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in USD (in EUR)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10345 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">626</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10346 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">476</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10347 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">188</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10348 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.62pt\"></span></span><span class=\"ps10343\">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=\"ps6438 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in EUR<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10349 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">65</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10350 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">40</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10351 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.97pt\"></span></span><span class=\"ps10324\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10352 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">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=\"ps5551 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-23b55a92 ps39\">Total obligations (in EUR)<span class=\"f ps40\"> </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=\"ps10353 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">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=\"ps10354 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">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=\"ps10355 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">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=\"ps10357 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.86pt\"></span></span><span class=\"ps10356\">1,395</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2912 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-b07b4361 ps39\">2023<span class=\"f ps40\"> </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=\"ps10358 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in USD<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10359 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">328</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10360 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">833</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10361 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">180</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10362 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.62pt\"></span></span><span class=\"ps10343\">1,341</span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"padding:0\"><div class=\"ps3787 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in USD (in EUR)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10363 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">296</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10364 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">752</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10365 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">163</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10366 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:32.62pt\"></span></span><span class=\"ps10343\">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=\"ps9283 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-1bac868e ps630\">Obligation in EUR<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10367 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">69</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10368 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.27pt\"></span></span><span class=\"ps8421\">99</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10370 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:49.12pt\"></span></span><span class=\"ps10369\">6</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10371 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.42pt\"></span></span><span class=\"ps10321\">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=\"ps6468 ss735\"><div><div class=\"ps624 ss732\"><span class=\"f charStyle-23b55a92 ps39\">Total obligations (in EUR)<span class=\"f ps40\"> </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=\"ps10372 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">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=\"ps10373 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">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=\"ps10374 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:38.46pt\"></span></span><span class=\"ps10335\">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=\"ps10375 ss736\"><div><div class=\"ps624 ss203\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.86pt\"></span></span><span class=\"ps10356\">1,385</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 ps183\">Note 23</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Financial Risk Management<span id=\"i3602c1eed0a140c582bca32b019edcd7\"></span></span></div><div class=\"ps6975 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-cd31f1a5 ps183\">Continued from previous page</span></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The table below analyses the maturity profile of the Company\u2019s financial liabilities based on contractual-</span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">undiscounted cash flows, excluding payments relating to newbuild vessels.</span></div><div class=\"ps10471 ss0\"><div class=\"ss176 ws0 ps67\"><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=\"ps37 ss737\"><div><div class=\"ps10377 ss361\"><span class=\"f charStyle-4979afbe ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10380 ss738\"><div><div class=\"ps7489 ss147\"><span class=\"f charStyle-281247bf ps10378\">Less than 1 <span class=\"f ps40\"> </span></span></div><div class=\"ps7490 ss147\"><span class=\"f charStyle-281247bf ps10379\">year</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7532 ss738\"><div><div class=\"ps7489 ss147\"><span class=\"f charStyle-281247bf ps10381\">Between 1 <span class=\"f ps40\"> </span></span></div><div class=\"ps7490 ss147\"><span class=\"f charStyle-281247bf ps10382\">and 2 years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10385 ss738\"><div><div class=\"ps7489 ss147\"><span class=\"f charStyle-281247bf ps10383\">After 2 <span class=\"f ps40\"> </span></span></div><div class=\"ps7490 ss147\"><span class=\"f charStyle-281247bf ps10384\">years</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6049 ss738\"><div><div class=\"ps7469 ss147\"><span class=\"f charStyle-281247bf ps10386\">Total<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5143 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-b07b4361 ps39\">2025<span class=\"f ps40\"> </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=\"ps10387 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Trade and other payables<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10389 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">98,208</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10391 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10392 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10393 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">98,208</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps10394 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Payables to related parties<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10396 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">272</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10397 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10398 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10399 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">272</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps9223 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Lease liabilities<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10401 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">1,851</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10402 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">2,819</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10403 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">8,868</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10404 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">13,538</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps2302 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Debt to credit institutions<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10406 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">194,548</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10407 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">247,706</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10409 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:12.37pt\"></span></span><span class=\"ps10408\">1,607,212</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10410 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:12.37pt\"></span></span><span class=\"ps10408\">2,049,466</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps10411 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Derivatives<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10412 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">3,062</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10413 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">1,884</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10414 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">8,770</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10415 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">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=\"ps10417 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.77pt\"></span></span><span class=\"ps10416\">297,941</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10418 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.77pt\"></span></span><span class=\"ps10416\">252,409</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10419 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:9.17pt\"></span></span><span class=\"ps9470\">1,624,850</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8651 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:9.17pt\"></span></span><span class=\"ps9470\">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=\"ps2016 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-b07b4361 ps39\">2024<span class=\"f ps40\"> </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=\"ps6357 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Trade and other payables<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10420 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">43,595</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10421 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10422 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10423 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">43,595</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps6362 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Payables to related parties<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10424 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">223</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10425 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10426 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10427 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">223</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps2220 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Lease liabilities<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10428 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">1,274</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10429 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">2,337</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10430 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">7,360</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10431 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">10,971</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps685 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Debt to credit institutions<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10432 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">31,163</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10433 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">54,339</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10434 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">485,515</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10435 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">571,017</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps2111 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Derivatives<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10436 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">209</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10437 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10438 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">16,205</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10439 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">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=\"ps10441 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.94pt\"></span></span><span class=\"ps10440\">76,464</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10442 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.94pt\"></span></span><span class=\"ps10440\">56,676</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10443 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.77pt\"></span></span><span class=\"ps10416\">509,080</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10444 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.77pt\"></span></span><span class=\"ps10416\">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=\"ps6842 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-b07b4361 ps39\">2023<span class=\"f ps40\"> </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=\"ps6021 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Trade and other payables<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10445 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">32,636</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10446 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10447 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10448 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">32,636</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps10449 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Payables to related parties<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10450 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">162</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10451 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10452 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10453 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">162</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps6178 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Lease liabilities<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10454 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">601</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10455 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">392</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10456 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10457 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">993</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps9969 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Debt to credit institutions<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10458 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.67pt\"></span></span><span class=\"ps10395\">799</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10459 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10460 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">204,773</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10461 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">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=\"ps10462 ss739\"><div><div class=\"ps2174 ss361\"><span class=\"f charStyle-1bac868e ps630\">Derivatives<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10463 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">4,004</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10464 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">5,683</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10465 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">12,274</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10466 ss335\"><div><div class=\"ps2174 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">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=\"ps10467 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:21.94pt\"></span></span><span class=\"ps10440\">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=\"ps10468 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.11pt\"></span></span><span class=\"ps4617\">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=\"ps10469 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.77pt\"></span></span><span class=\"ps10416\">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=\"ps10470 ss462\"><div><div class=\"ps741 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:16.77pt\"></span></span><span class=\"ps10416\">261,324</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7033 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-644c6314 ps1006\">Change in debts to credit institutions during the year</span></div><div class=\"ps10494 ss0\"><div class=\"ss176 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=\"ps37 ss740\"><div><div class=\"ps7618 ss598\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7532 ss741\"><div><div class=\"ps4441 ss147\"><span class=\"f charStyle-281247bf ps6086\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10385 ss741\"><div><div class=\"ps4441 ss147\"><span class=\"f charStyle-054ead99 ps6086\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6049 ss741\"><div><div class=\"ps4441 ss147\"><span class=\"f charStyle-054ead99 ps6086\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps439 ss740\"><div><div class=\"ps435 ss598\"><span class=\"f charStyle-1bac868e ps630\">Debt to credit institutions at 1 January<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10474 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10473\">(571,017)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10475 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10473\">(205,572)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7731 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10473\">(115,002)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps460 ss740\"><div><div class=\"ps435 ss598\"><span class=\"f charStyle-1bac868e ps630\">Loans repayments<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10476 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">279,281</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10477 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">10,630</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7734 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:19.17pt\"></span></span><span class=\"ps10405\">115,000</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5518 ss740\"><div><div class=\"ps435 ss598\"><span class=\"f charStyle-1bac868e ps630\">Proceeds from borrowing<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10479 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:6.95pt\"></span></span><span class=\"ps10478\">(1,337,178)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10480 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10473\">(385,234)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7738 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:13.75pt\"></span></span><span class=\"ps10473\">(211,934)</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5527 ss740\"><div><div class=\"ps435 ss598\"><span class=\"f charStyle-1bac868e ps630\">New loan fees<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10481 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">25,193</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10482 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:24.02pt\"></span></span><span class=\"ps10388\">11,100</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7740 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:28.87pt\"></span></span><span class=\"ps10400\">8,262</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5532 ss740\"><div><div class=\"ps435 ss598\"><span class=\"f charStyle-1bac868e ps630\">Non-cash movements<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10484 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10483\">(7,033)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10485 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10483\">(1,941)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7743 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5537 ss740\"><div><div class=\"ps435 ss598\"><span class=\"f charStyle-1bac868e ps630\">Write-off of loan fees<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10486 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10487 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.22pt\"></span></span><span class=\"ps10390\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10488 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:23.45pt\"></span></span><span class=\"ps10483\">(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=\"ps59 ss740\"><div><div class=\"ps435 ss598\"><span class=\"f charStyle-b07b4361 ps39\">Debt to credit institutions at 31 December 2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10490 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:2.53pt\"></span></span><span class=\"ps10489\">(1,610,754)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10492 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:10.13pt\"></span></span><span class=\"ps10491\">(571,017)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10493 ss741\"><div><div class=\"ps435 ss147\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:10.13pt\"></span></span><span class=\"ps10491\">(205,572)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps4569 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Total </span><span class=\"f charStyle-c1b8f9f6 ps10496\">Proceeds from borrowing, net of bank fees, </span><span class=\"f charStyle-c1b8f9f6 ps10497\">in </span><span class=\"f charStyle-c1b8f9f6 ps10498\">2025</span><span class=\"f charStyle-c1b8f9f6 ps10499\"> as per Consolidated Statement of Cash Flows </span></div><div class=\"ps4570 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">amounted to </span><span class=\"f charStyle-c1b8f9f6 ps10500\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps10501\"> </span><span class=\"f charStyle-c1b8f9f6 ps10502\">1,309</span><span class=\"f charStyle-c1b8f9f6 ps10503\"> million, excluding </span><span class=\"f charStyle-c1b8f9f6 ps10504\">EUR </span><span class=\"f charStyle-c1b8f9f6 ps10505\">2.8</span><span class=\"f charStyle-c1b8f9f6 ps10506\"> of loan fees that have been included in Prepayments.</span></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-592": {
   "value": "<div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Capital management<span id=\"i025d8568241546d6b01fee9b47d8e40f\"></span></span></div><div class=\"ps369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Company\u2019s objectives when managing capital are to ensure the </span></div><div class=\"ps370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Company\u2019s ability to continue as a going concern and to maintain an </span></div><div class=\"ps397 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">optimal capital structure.</span></div><div class=\"ps372 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In order to achieve this overall objective, the Company\u2019s capital </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">management aims, among other things, to ensure compliance wth </span></div><div class=\"ps374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the financial covenants attached to the interest-bearing loans and </span></div><div class=\"ps375 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">borrowings that define capital structure requirements. A breach of </span></div><div class=\"ps376 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the financial covenants would permit the bank to immediately call </span></div><div class=\"ps398 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">loans and borrowings. There have been no breaches of the financial </span></div><div class=\"ps399 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">covenants of any interest-bearing loans and borrowing in the current </span></div><div class=\"ps10507 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">period.</span></div><div class=\"ps380 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In order to maintain or adjust the capital structure in the future, the </span></div><div class=\"ps381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Group may adjust dividend payments to shareholders, issue new </span></div><div class=\"ps400 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">shares and/or dispose of assets to reduce debt. Pursuant to the </span></div><div class=\"ps426 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Green Corporate Facility, the Company is not permitted to pay any </span></div><div class=\"ps427 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">dividends or other distributions without the prior written consent of </span></div><div class=\"ps428 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">DNB Bank ASA.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-593": {
   "value": "<div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps879\">Fair value measurement<span id=\"ide79311c8cde4f88ab294fa6177f27b8\"></span></span></div><div class=\"ps369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">The Group measures derivatives at fair value at each balance sheet </span></div><div class=\"ps370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">date. Fair value is the price that would be received to sell an asset or </span></div><div class=\"ps397 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">paid to transfer a liability in an orderly transaction between market </span></div><div class=\"ps7437 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">participants at the balance sheet date. </span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">The principal, or in its absence the most advantageous market must </span></div><div class=\"ps374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">be accessible by the Group. The fair value of an asset or liability is </span></div><div class=\"ps375 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">measured using the assumptions that market participants would use </span></div><div class=\"ps376 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">when pricing the asset or liability, assuming that market participants </span></div><div class=\"ps398 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">act in their own economic best interest.</span></div><div class=\"ps378 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">In measuring the fair value of unlisted derivative financial instruments </span></div><div class=\"ps379 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">and other financial instruments for which there is no active market, </span></div><div class=\"ps380 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">fair value is determined using generally accepted valuation </span></div><div class=\"ps381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">techniques. Market-based parameters such as market-based yield </span></div><div class=\"ps400 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">curves and forward exchange rate are used for the valuation.</span></div><div class=\"ps383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">The Group uses valuation techniques that are appropriate in the </span></div><div class=\"ps401 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">circumstances and for which sufficient data is available to measure </span></div><div class=\"ps402 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">fair value, maximising the use of relevant observable inputs and </span></div><div class=\"ps403 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">minimising the use of unobservable inputs.</span></div><div class=\"ps416 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Financial instruments for which fair value is measured or disclosed in </span></div><div class=\"ps417 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">the financial statements are categorised within the fair value </span></div><div class=\"ps418 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">hierarchy, as described below:</span></div><div class=\"ps5466 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Level 1: The fair value of financial instruments traded in active markets </span></div><div class=\"ps5467 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">(such as publicly traded derivatives, and equity securities) is based on </span></div><div class=\"ps5468 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">quoted market prices at the end of the reporting period. The quoted </span></div><div class=\"ps422 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">market price used for financial assets held by the Group is the current </span></div><div class=\"ps423 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">bid price. These instruments are included in level 1. </span></div><div class=\"ps7070 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Level 2: The fair value of financial instruments that are not traded in </span></div><div class=\"ps7071 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">an active market (e.g. over-the counter derivatives) is determined </span></div><div class=\"ps7072 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">using valuation techniques that maximise the use of observable </span></div><div class=\"ps7073 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">market data and rely as little as possible on entity-specific estimates. </span></div><div class=\"ps5472 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">The valuation techniques applied are primarily based on marked-</span></div><div class=\"ps5473 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">based inputs of the instruments. If all significant inputs required to </span></div><div class=\"ps5474 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">measure the fair value of an instrument are observable, the </span></div><div class=\"ps5475 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">instrument is included in Level 2.</span></div><div class=\"ps10508 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Level 3: If one or more of the significant inputs is not observable </span></div><div class=\"ps10509 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">market data, the instrument is included in Level 3.</span></div><div class=\"ps10510 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">The table below shows the fair value measurement of the Group\u2019s </span></div><div class=\"ps10511 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">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-595": {
   "value": "<div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies<span id=\"ic09a383af8ab4b488bf22a7990e12a85\"></span></span></div><div class=\"ps369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Derivative financial instruments are initially recognised at fair value on the date the derivative contract is </span></div><div class=\"ps370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">entered into and are subsequently remeasured at fair value through profit and loss. Derivatives are carried </span></div><div class=\"ps397 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">as financial assets, presented as derivative assets, when the fair value is positive and as financial liabilities, </span></div><div class=\"ps7437 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">presented as derivative liabilities, when the fair value is negative.</span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">At the inception of a hedge relationship, the Group formally designates and documents the hedge </span></div><div class=\"ps374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">relationship, including the risk management objective and strategy for undertaking the hedge.</span></div><div class=\"ps10310 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Changes in the fair value of derivative financial instruments designated as cash flow hedges are recognised </span></div><div class=\"ps10311 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">in other comprehensive income and presented under \u201cHedging reserves\u201d (equity). Where the expected </span></div><div class=\"ps377 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">future transactions result in the acquisition of non-financial assets, amounts deferred in equity are </span></div><div class=\"ps378 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">transferred from equity and included in the cost of the asset. Where expected future transactions result in </span></div><div class=\"ps379 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">income or expenses, amounts deferred under in equity are transferred from equity to the statement of </span></div><div class=\"ps380 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">profit and loss, in the same item as the hedged transaction, as a reclassification adjustment. In addition, the </span></div><div class=\"ps381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">entity may transfer the cumulative fair value changes recognised in equity upon derecognition of the </span></div><div class=\"ps400 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">hedged item. </span></div><div class=\"ps383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Changes in the fair value of derivative financial instruments not designated as hedges are recognised in the </span></div><div class=\"ps401 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">statement of profit and loss. Certain borrowing facilities when undrawn do not qualify for hedge </span></div><div class=\"ps402 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">accounting. Changes in the fair value of these derivative financial instruments are therefore recognised in </span></div><div class=\"ps403 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the statement of profit and loss under \u201cFinancial income\u201d or \u201cFinancial expenses\u201d for interest rate swaps. </span></div><div class=\"ps387 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The amount included in the hedging reserve is the lower, in absolute terms, of the cumulative fair value </span></div><div class=\"ps388 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">adjustment of the hedging instrument and the hedged item. Hedge ineffectiveness is recognised in the </span></div><div class=\"ps405 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">consolidated statement of profit and loss. Cost of hedging reserves include the time value of options. </span></div><div class=\"ps406 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">These costs are recognised separately in Other Comprehensive Income (OCI) and are amortised over the </span></div><div class=\"ps407 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">life of the hedging instrument, in accordance with the specific hedging relationship. If the hedge is </span></div><div class=\"ps408 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">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-594": {
   "value": "<div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies<span id=\"ic09a383af8ab4b488bf22a7990e12a85\"></span></span></div><div class=\"ps369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Derivative financial instruments are initially recognised at fair value on the date the derivative contract is </span></div><div class=\"ps370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">entered into and are subsequently remeasured at fair value through profit and loss. Derivatives are carried </span></div><div class=\"ps397 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">as financial assets, presented as derivative assets, when the fair value is positive and as financial liabilities, </span></div><div class=\"ps7437 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">presented as derivative liabilities, when the fair value is negative.</span></div><div class=\"ps373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">At the inception of a hedge relationship, the Group formally designates and documents the hedge </span></div><div class=\"ps374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">relationship, including the risk management objective and strategy for undertaking the hedge.</span></div><div class=\"ps10310 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Changes in the fair value of derivative financial instruments designated as cash flow hedges are recognised </span></div><div class=\"ps10311 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">in other comprehensive income and presented under \u201cHedging reserves\u201d (equity). Where the expected </span></div><div class=\"ps377 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">future transactions result in the acquisition of non-financial assets, amounts deferred in equity are </span></div><div class=\"ps378 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">transferred from equity and included in the cost of the asset. Where expected future transactions result in </span></div><div class=\"ps379 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">income or expenses, amounts deferred under in equity are transferred from equity to the statement of </span></div><div class=\"ps380 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">profit and loss, in the same item as the hedged transaction, as a reclassification adjustment. In addition, the </span></div><div class=\"ps381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">entity may transfer the cumulative fair value changes recognised in equity upon derecognition of the </span></div><div class=\"ps400 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">hedged item. </span></div><div class=\"ps383 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Changes in the fair value of derivative financial instruments not designated as hedges are recognised in the </span></div><div class=\"ps401 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">statement of profit and loss. Certain borrowing facilities when undrawn do not qualify for hedge </span></div><div class=\"ps402 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">accounting. Changes in the fair value of these derivative financial instruments are therefore recognised in </span></div><div class=\"ps403 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the statement of profit and loss under \u201cFinancial income\u201d or \u201cFinancial expenses\u201d for interest rate swaps. </span></div><div class=\"ps387 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The amount included in the hedging reserve is the lower, in absolute terms, of the cumulative fair value </span></div><div class=\"ps388 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">adjustment of the hedging instrument and the hedged item. Hedge ineffectiveness is recognised in the </span></div><div class=\"ps405 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">consolidated statement of profit and loss. Cost of hedging reserves include the time value of options. </span></div><div class=\"ps406 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">These costs are recognised separately in Other Comprehensive Income (OCI) and are amortised over the </span></div><div class=\"ps407 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">life of the hedging instrument, in accordance with the specific hedging relationship. If the hedge is </span></div><div class=\"ps408 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">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-596": {
   "value": "<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 ps183\">Note 25</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Financial Liabilities: Interest-bearing Loans and Borrowings<span id=\"ia0b999c032cd4b8fa64ba3530eed0930\"></span></span></div><div class=\"ps9289 ss0\"><div class=\"ss786 ws0 ps67\"><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=\"ps37 ss742\"><div><div class=\"ps4441 ss697\"><span class=\"f charStyle-b07b4361 ps39\">As of 31 December 2025<span class=\"f ps40\"> </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=\"ps10928 ss783\"><div><div class=\"ps4441 ss782\"><span class=\"f charStyle-b07b4361 ps10927\">Committed (EUR millions)<span class=\"f ps40\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"padding:0\"><div class=\"ps10929 ss785\"><div><div class=\"ps7618 ss784\"><span class=\"f charStyle-64a4cf84 ps39\">Related derivatives contracts<span class=\"f ps40\"> </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=\"ps439 ss709\"><div><div class=\"ps8191 ss697\"><span class=\"f charStyle-4979afbe ps39\">EUR Millions<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10821 ss768\"><div><div class=\"ps8191 ss431\"><span class=\"f charStyle-4979afbe ps39\">Interest rate<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10822 ss471\"><div><div class=\"ps8191 ss336\"><span class=\"f charStyle-4979afbe ps39\">Maturity<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10823 ss770\"><div><div class=\"ps8191 ss769\"><span class=\"f charStyle-4979afbe ps39\">Covenants<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10824 ss772\"><div><div class=\"ps5627 ss771\"><span class=\"f charStyle-281247bf ps3989\">Utilised<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10827 ss303\"><div><div class=\"ps5628 ss297\"><span class=\"f charStyle-281247bf ps10825\">Accumulated <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss297\"><span class=\"f charStyle-281247bf ps10826\">repayments</span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10829 ss773\"><div><div class=\"ps5627 ss316\"><span class=\"f charStyle-281247bf ps10828\">Unutilised<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10831 ss774\"><div><div class=\"ps8191 ss241\"><span class=\"f charStyle-4979afbe ps10830\">Average IRS rate<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10835 ss774\"><div><div class=\"ps10833 ss241\"><span class=\"f charStyle-4979afbe ps10832\">IRS nominal (EUR <span class=\"f ps40\"> </span></span></div><div class=\"ps8191 ss241\"><span class=\"f charStyle-4979afbe ps10834\">millions)</span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps1989 ss775\"><div><div class=\"ps4607 ss697\"><span class=\"f charStyle-b07b4361 ps39\">Secured<span class=\"f ps40\"> </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=\"ps2138 ss775\"><div><div class=\"ps4607 ss697\"><span class=\"f charStyle-1bac868e ps630\">Green Corporate Facility (RCF + term loan)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10840 ss776\"><div><div class=\"ps4607 ss431\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3807\">3 months EURIBOR + </span><span class=\"f charStyle-36184c7f ps10837\">2%</span><span class=\"f charStyle-36184c7f ps10838\"> - </span><span class=\"f charStyle-36184c7f ps10839\">2.75%</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10842 ss479\"><div><div class=\"ps4607 ss336\"><span class=\"f charStyle-e5ec5c44 ps10841\">2032<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10844 ss777\"><div><div class=\"ps4607 ss769\"><span class=\"f charStyle-e5ec5c44 ps10843\">Yes - refer to page 203<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10846 ss778\"><div><div class=\"ps4607 ss771\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:52.17pt\"></span></span><span class=\"ps10845\">283</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10847 ss779\"><div><div class=\"ps4607 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.85pt\"></span></span><span class=\"ps9592\">(87)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10849 ss780\"><div><div class=\"ps4607 ss316\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:54.42pt\"></span></span><span class=\"ps10848\">148</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10851 ss781\"><div><div class=\"ps4607 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps10850\"></span><span class=\"ps10850\">2.7</span><span class=\"ps5318\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10852 ss781\"><div><div class=\"ps4607 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.67pt\"></span></span><span class=\"ps9809\">247</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps5955 ss775\"><div><div class=\"ps4607 ss697\"><span class=\"f charStyle-1bac868e ps630\">Green Corporate Facility - Guarantee<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10855 ss776\"><div><div class=\"ps4607 ss431\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3807\">0.8%</span><span class=\"f charStyle-36184c7f ps10853\"> - </span><span class=\"f charStyle-36184c7f ps10854\">1.2%</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10856 ss479\"><div><div class=\"ps4607 ss336\"><span class=\"f charStyle-e5ec5c44 ps10841\">2026<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10857 ss777\"><div><div class=\"ps4607 ss769\"><span class=\"f charStyle-e5ec5c44 ps10843\">Yes - refer to page 203<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10858 ss778\"><div><div class=\"ps4607 ss771\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:52.17pt\"></span></span><span class=\"ps10845\">157</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10859 ss779\"><div><div class=\"ps4607 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10861 ss780\"><div><div class=\"ps4607 ss316\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:59.27pt\"></span></span><span class=\"ps10860\">43</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10862 ss781\"><div><div class=\"ps4607 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\"></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=\"ps2892 ss775\"><div><div class=\"ps4607 ss697\"><span class=\"f charStyle-b07b4361 ps39\">Total Green Corporate Facility<span class=\"f ps40\"> </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=\"ps10864 ss778\"><div><div class=\"ps4607 ss771\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.21pt\"></span></span><span class=\"ps10863\">440</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10866 ss779\"><div><div class=\"ps4607 ss297\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.99pt\"></span></span><span class=\"ps10865\">(87)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps10868 ss780\"><div><div class=\"ps4607 ss316\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:53.46pt\"></span></span><span class=\"ps10867\">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=\"ps5686 ss775\"><div><div class=\"ps4607 ss697\"><span class=\"f charStyle-1bac868e ps630\">P-Class Facility\u00b9<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10869 ss776\"><div><div class=\"ps4607 ss431\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3807\">3 months EURIBOR + </span><span class=\"f charStyle-36184c7f ps10837\">1.6%</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10870 ss479\"><div><div class=\"ps4607 ss336\"><span class=\"f charStyle-e5ec5c44 ps10841\">2037<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10871 ss777\"><div><div class=\"ps4607 ss769\"><span class=\"f charStyle-e5ec5c44 ps10843\">Yes - refer to page 203<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10872 ss778\"><div><div class=\"ps4607 ss771\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:52.17pt\"></span></span><span class=\"ps10845\">421</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10873 ss779\"><div><div class=\"ps4607 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.85pt\"></span></span><span class=\"ps9592\">(35)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10875 ss780\"><div><div class=\"ps4607 ss316\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:59.97pt\"></span></span><span class=\"ps10874\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10876 ss781\"><div><div class=\"ps4607 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps10850\"></span><span class=\"ps10850\">3.0</span><span class=\"ps5318\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10877 ss781\"><div><div class=\"ps4607 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:34.87pt\"></span></span><span class=\"ps7284\">105.1</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps10878 ss775\"><div><div class=\"ps4607 ss697\"><span class=\"f charStyle-1bac868e ps630\">A-Class Facility I &amp; II<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10879 ss776\"><div><div class=\"ps4607 ss431\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3807\">3 months EURIBOR + </span><span class=\"f charStyle-36184c7f ps10837\">1.6%</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10880 ss479\"><div><div class=\"ps4607 ss336\"><span class=\"f charStyle-e5ec5c44 ps10841\">2037<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10881 ss777\"><div><div class=\"ps4607 ss769\"><span class=\"f charStyle-e5ec5c44 ps10843\">Yes - refer to page 203<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10882 ss778\"><div><div class=\"ps4607 ss771\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:52.17pt\"></span></span><span class=\"ps10845\">262</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10884 ss779\"><div><div class=\"ps4607 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:55.7pt\"></span></span><span class=\"ps10883\">(5)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10885 ss780\"><div><div class=\"ps4607 ss316\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:54.42pt\"></span></span><span class=\"ps10848\">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=\"ps2107 ss775\"><div><div class=\"ps4607 ss697\"><span class=\"f charStyle-1bac868e ps630\">Wind Keeper Facility<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10886 ss776\"><div><div class=\"ps4607 ss431\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3807\">3 months EURIBOR + </span><span class=\"f charStyle-36184c7f ps10837\">2.1%</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10887 ss479\"><div><div class=\"ps4607 ss336\"><span class=\"f charStyle-e5ec5c44 ps10841\">2030<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10888 ss777\"><div><div class=\"ps4607 ss769\"><span class=\"f charStyle-e5ec5c44 ps10843\">Yes - refer to page 203<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10889 ss778\"><div><div class=\"ps4607 ss771\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:52.17pt\"></span></span><span class=\"ps10845\">125</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10890 ss779\"><div><div class=\"ps4607 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10891 ss780\"><div><div class=\"ps4607 ss316\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:59.97pt\"></span></span><span class=\"ps10874\">\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=\"ps10892 ss775\"><div><div class=\"ps4607 ss697\"><span class=\"f charStyle-1bac868e ps630\">M-Class Facility I &amp; II<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10893 ss776\"><div><div class=\"ps4607 ss431\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3807\">3 months EURIBOR + </span><span class=\"f charStyle-36184c7f ps10837\">2.5%</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10894 ss479\"><div><div class=\"ps4607 ss336\"><span class=\"f charStyle-e5ec5c44 ps10841\">2037<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10895 ss777\"><div><div class=\"ps4607 ss769\"><span class=\"f charStyle-e5ec5c44 ps10843\">Yes - refer to page 203<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10896 ss778\"><div><div class=\"ps4607 ss771\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:52.17pt\"></span></span><span class=\"ps10845\">420</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10897 ss779\"><div><div class=\"ps4607 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:50.85pt\"></span></span><span class=\"ps9592\">(13)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10898 ss780\"><div><div class=\"ps4607 ss316\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:59.97pt\"></span></span><span class=\"ps10874\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10899 ss781\"><div><div class=\"ps4607 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\"></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=\"ps6014 ss775\"><div><div class=\"ps4607 ss697\"><span class=\"f charStyle-b07b4361 ps39\">Unsecured<span class=\"f ps40\"> </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=\"ps10900 ss775\"><div><div class=\"ps4607 ss697\"><span class=\"f charStyle-1bac868e ps630\">HoldCo Facility<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10901 ss776\"><div><div class=\"ps4607 ss431\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3807\">3 months EURIBOR + </span><span class=\"f charStyle-36184c7f ps10837\">4%</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10902 ss479\"><div><div class=\"ps4607 ss336\"><span class=\"f charStyle-e5ec5c44 ps10841\">2028<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10903 ss777\"><div><div class=\"ps4607 ss769\"><span class=\"f charStyle-1bac868e ps39\">Yes - refer to page 203<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10904 ss778\"><div><div class=\"ps4607 ss771\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:52.17pt\"></span></span><span class=\"ps10845\">125</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10905 ss779\"><div><div class=\"ps4607 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10906 ss780\"><div><div class=\"ps4607 ss316\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:59.97pt\"></span></span><span class=\"ps10874\">\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=\"ps5755 ss775\"><div><div class=\"ps4607 ss697\"><span class=\"f charStyle-1bac868e ps630\">HoldCo Facility II<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10907 ss776\"><div><div class=\"ps4607 ss431\" style=\"font-size:12pt\"><span class=\"f charStyle-36184c7f ps3807\">3 months EURIBOR + </span><span class=\"f charStyle-36184c7f ps10837\">4%</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10908 ss479\"><div><div class=\"ps4607 ss336\"><span class=\"f charStyle-e5ec5c44 ps10841\">2030<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10909 ss777\"><div><div class=\"ps4607 ss769\"><span class=\"f charStyle-1bac868e ps39\">Yes - refer to page 203<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10911 ss778\"><div><div class=\"ps4607 ss771\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:57.02pt\"></span></span><span class=\"ps10910\">60</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10912 ss779\"><div><div class=\"ps4607 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10913 ss780\"><div><div class=\"ps4607 ss316\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:59.97pt\"></span></span><span class=\"ps10874\">\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=\"ps10462 ss775\"><div><div class=\"ps4607 ss697\"><span class=\"f charStyle-1bac868e ps630\">Unsecured guarantee facility<span class=\"f ps40\"> </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=\"ps10914 ss777\"><div><div class=\"ps4607 ss769\"><span class=\"f charStyle-1bac868e ps39\">Yes - refer to page 203<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10915 ss778\"><div><div class=\"ps4607 ss771\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:57.02pt\"></span></span><span class=\"ps10910\">96</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10916 ss779\"><div><div class=\"ps4607 ss297\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.97pt\"></span></span><span class=\"ps7278\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10918 ss780\"><div><div class=\"ps4607 ss316\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:64.12pt\"></span></span><span class=\"ps10917\">7</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10919 ss781\"><div><div class=\"ps4607 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\"></span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10920 ss781\"><div><div class=\"ps4607 ss241\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:56.22pt\"></span></span><span class=\"ps6532\"></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"background-color:#206079;padding:0\"><div class=\"ps5349 ss775\"><div><div class=\"ps4607 ss697\"><span class=\"f charStyle-23b55a92 ps39\">Total (excluding Guarantee facility)<span class=\"f ps40\"> </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=\"ps10923 ss778\"><div><div class=\"ps4607 ss771\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:39.98pt\"></span></span><span class=\"ps10921\">1,696</span><span class=\"ps10922\">\u00b2</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10925 ss779\"><div><div class=\"ps4607 ss297\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.82pt\"></span></span><span class=\"ps10924\">(140)</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps10926 ss780\"><div><div class=\"ps4607 ss316\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:53.46pt\"></span></span><span class=\"ps10867\">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=\"ps10959 ss0\"><div class=\"ss787 ws0 ps67\"><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=\"ps37 ss788\"><div><div class=\"ps10948 ss787\" style=\"font-size:12pt\"><span class=\"f charStyle-f8d16a17 ps10930\"><sup>1 </sup></span><span class=\"f charStyle-df865089 ps10931\">For the P-class Facility, up to </span><span class=\"f charStyle-df865089 ps10932\">EUR</span><span class=\"f charStyle-df865089 ps10933\"> </span><span class=\"f charStyle-df865089 ps10934\">425</span><span class=\"f charStyle-df865089 ps10935\"> million, </span><span class=\"f charStyle-df865089 ps10936\">EUR</span><span class=\"f charStyle-df865089 ps10937\"> </span><span class=\"f charStyle-df865089 ps10938\">214</span><span class=\"f charStyle-df865089 ps10939\">million was available for Wind Peak of which </span><span class=\"f charStyle-df865089 ps10940\">EUR</span><span class=\"f charStyle-df865089 ps10941\"> </span><span class=\"f charStyle-df865089 ps10942\">421 million</span><span class=\"f charStyle-df865089 ps10943\"> has been utilised and the remaining </span><span class=\"f charStyle-df865089 ps10944\">EUR</span><span class=\"f charStyle-58d8bcbe ps10945\"> </span><span class=\"f charStyle-df865089 ps10946\">4</span><span class=\"f charStyle-df865089 ps10947\"> million lapsed. </span></div><div class=\"ps10958 ss787\" style=\"font-size:12pt\"><span class=\"f charStyle-f8d16a17 ps10930\"><sup>2</sup></span><span class=\"f charStyle-df865089 ps10949\"> The difference between </span><span class=\"f charStyle-df865089 ps10950\">EUR</span><span class=\"f charStyle-df865089 ps10951\"> </span><span class=\"f charStyle-df865089 ps10952\">1,696 million</span><span class=\"f charStyle-df865089 ps10953\"> and the carrying amount of </span><span class=\"f charStyle-df865089 ps10954\">EUR</span><span class=\"f charStyle-58d8bcbe ps10955\"> </span><span class=\"f charStyle-df865089 ps10956\">1,611 million</span><span class=\"f charStyle-df865089 ps10957\"> is mainly related to interest and fees.</span></div></div></div></td></tr></tbody></table></div></div></div></div><div class=\"ps10963 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Green Corporate Facility (formerly referred to as \u201cNew <span id=\"i4641db1b21454607875c215d46850a8c\"></span></span></div><div class=\"ps10964 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">debt Facility\u201d)</span></div><div class=\"ps10965 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In December 2023, Cadeler announced the signing of a EUR </span></div><div class=\"ps8936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">550\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10966\"> Senior Secured Green Facilities, the \u201cGreen Corporate </span></div><div class=\"ps7350 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Facility\u201d, with a group of banks led by DNB and supported by </span></div><div class=\"ps6985 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Rabobank, Credit Agricole, Danske Bank, Oversea-Chinese Banking </span></div><div class=\"ps7362 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Corporation (\u201cOCBC\u201d), Standard Chartered Bank and Soci\u00e9t\u00e9 </span></div><div class=\"ps9349 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">G\u00e9n\u00e9rale.</span></div><div class=\"ps6988 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The main objective of the Green Corporate Facility is to refinance </span></div><div class=\"ps9352 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">and fund upgrades to existing vessels, as well as to provide funding </span></div><div class=\"ps9353 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">for general corporate and working capital purposes.</span></div><div class=\"ps8948 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Green Corporate Facility comprises two RCFs amounting to EUR </span></div><div class=\"ps8949 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">350\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10966\">, a EUR </span><span class=\"f charStyle-c1b8f9f6 ps10967\">100\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10968\"> term loan guaranteed by The Danish </span></div><div class=\"ps9356 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Export and Investment Fund of Denmark (EIFO) and a EUR </span></div><div class=\"ps10969 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">200\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10966\"> uncommitted Guarantee facility.</span></div><div class=\"ps10970 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Holdco Facility<span id=\"idc8116543ec04d0085a457bedbf8be4f\"></span></span></div><div class=\"ps8951 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In November 2023, Cadeler entered into a bilateral unsecured </span></div><div class=\"ps10973 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Green Loan Facility with HSBC of EUR </span><span class=\"f charStyle-c1b8f9f6 ps10971\">80\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10972\">, which was upsized </span></div><div class=\"ps10976 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">to EUR </span><span class=\"f charStyle-c1b8f9f6 ps10974\">125\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10975\"> during 2024. The main purpose of the facility has </span></div><div class=\"ps3209 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">been to pre-finance the construction of the P-class and A-class </span></div><div class=\"ps10977 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">newbuild vessels in addition to the upgrade of the existing O-class </span></div><div class=\"ps9387 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">vessels.</span></div><div class=\"ps10978 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">In November 2025, Cadeler entered into a second unsecured Green </span></div><div class=\"ps10982 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Loan Facility with HSBC and C</span><span class=\"f charStyle-c1b8f9f6 ps10979\">lifford Capital of EUR </span><span class=\"f charStyle-c1b8f9f6 ps10980\">60\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10981\"> with a </span></div><div class=\"ps10985 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">non-committed accordion option of up to EUR </span><span class=\"f charStyle-c1b8f9f6 ps10983\">80\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10984\">.</span></div><div class=\"ps10986 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">As of 31 December 2025, both unsecured facilities are fully utilised.</span></div><div class=\"ps10962 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-80a97fbb ps224\">Project Financing<span id=\"if56c08fedad24245974e647b20856c71\"></span></span></div><div class=\"ps10963 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps224\">P-class Facility<span id=\"if516b9384d2744eba9fb89344e3d0373\"></span></span></div><div class=\"ps3114 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">In December 2023, Cadeler announced the signing of a Sinosure-</span></div><div class=\"ps3115 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">backed Senior Secured Green Term Loan Facility of up to </span></div><div class=\"ps3116 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">EUR425\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10987\">. The purpose of the P-class Facility is to finance </span></div><div class=\"ps3117 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">Cadeler\u2019s </span><span class=\"f charStyle-c1b8f9f6 ps10988\">two</span><span class=\"f charStyle-c1b8f9f6 ps10989\"> newbuild vessels, Wind Peak and Wind Pace, which </span></div><div class=\"ps3118 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">were delivered on August 2024 and March 2025, respectively.</span></div><div class=\"ps10990 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps224\">M-class Facility I &amp; II<span id=\"i62f7e5a2ba7d497faf900a30229af0df\"></span></span></div><div class=\"ps6987 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">In August 2024, Cadeler successfully refinanced the USD </span><span class=\"f charStyle-c1b8f9f6 ps10991\">436\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10992\"> </span></div><div class=\"ps6988 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">Senior Secured Green Term Loan Facility (M-class Facility) to </span><span class=\"f charStyle-c1b8f9f6 ps10993\">two</span><span class=\"f charStyle-c1b8f9f6 ps10994\"> </span></div><div class=\"ps9352 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">individual M-class facilities (M-class Facility I and M-class Facility II). </span></div><div class=\"ps9353 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">Both facilities are backed by Danmarks Eksport og Investeringsfond </span></div><div class=\"ps9354 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">(EIFO) and Export Finance Norway (Eksfin), and provide an </span></div><div class=\"ps9346 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">aggregate of up to </span><span class=\"f charStyle-c1b8f9f6 ps10995\">EUR420\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps10996\"> in post-delivery financing. The </span></div><div class=\"ps9347 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">two</span><span class=\"f charStyle-c1b8f9f6 ps10997\"> newbuild vessels, Wind Maker and Wind Mover, were delivered </span></div><div class=\"ps10998 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">on January 2025 and November 2025, respectively.</span></div><div class=\"ps10999 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps224\">A-class Facility <span id=\"ia625b8cce4d34ba99b793a6c7821118d\"></span></span></div><div class=\"ps11002 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">In March 2025, Cadeler entered into a EUR </span><span class=\"f charStyle-c1b8f9f6 ps11000\">525</span><span class=\"f charStyle-c1b8f9f6 ps11001\">m Green Term Loan </span></div><div class=\"ps3430 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">Pre-Delivery and Post-Delivery Facility secured by Sinosure and </span></div><div class=\"ps3431 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">Eksfin. The purpose of the facility is to finance Cadeler\u2019s </span><span class=\"f charStyle-c1b8f9f6 ps11003\">two</span><span class=\"f charStyle-c1b8f9f6 ps11004\"> </span></div><div class=\"ps3432 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">newbuild vessels, Wind Ally and Wind Ace. Wind Ally has been </span></div><div class=\"ps3433 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">successful delivered ahead of schedule in September 2025 and </span></div><div class=\"ps3434 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">Wind Ace is expected to be delivered in Q1 2026.</span></div><div class=\"ps11005 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps224\">Keeper Facility<span id=\"id6d845dd45ba4bc28b6208ff6637defb\"></span></span></div><div class=\"ps2396 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">In May 2025, Cadeler entered into a bridge facility of up to EUR </span></div><div class=\"ps2397 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">150\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps11006\"> for the acquisition of Wind Keeper. This facility was </span></div><div class=\"ps11009 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">subsequently refinanced by a EUR </span><span class=\"f charStyle-c1b8f9f6 ps11007\">125\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps11008\"> Green Term Loan, </span></div><div class=\"ps11010 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps224\">which was fully drawn in October 2025.</span></div><div class=\"ps11011 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Covenants<span id=\"i39fb197c8cdb45309962aab6c128e6be\"></span></span></div><div class=\"ps11013 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group debt </span><span class=\"f charStyle-c1b8f9f6 ps11012\">facilities include the following covenants:</span></div><div class=\"ps11015 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">All debt facilities</span></div><div class=\"ps11016 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">\u2022<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1762\">Minimum Free Liquidity: Freely available cash and cash </span></div><div class=\"ps11024 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">equivalents of i) the higher of</span><span class=\"f charStyle-c1b8f9f6 ps11017\"> </span><span class=\"f charStyle-c1b8f9f6 ps11018\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps11019\"> </span><span class=\"f charStyle-c1b8f9f6 ps11020\">35</span><span class=\"f charStyle-c1b8f9f6 ps11021\"> million or </span><span class=\"f charStyle-c1b8f9f6 ps11022\">5%</span><span class=\"f charStyle-c1b8f9f6 ps11023\"> of gross </span></div><div class=\"ps11025 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">interest-bearing debt, where the ratio of forward-looking </span></div><div class=\"ps11028 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">contract cash flow to net interest-bearing debt exceeds </span><span class=\"f charStyle-c1b8f9f6 ps11026\">50%</span><span class=\"f charStyle-c1b8f9f6 ps11027\"> </span></div><div class=\"ps11034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">or ii) </span><span class=\"f charStyle-c1b8f9f6 ps11029\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps11030\"> </span><span class=\"f charStyle-c1b8f9f6 ps11031\">50</span><span class=\"f charStyle-c1b8f9f6 ps3664\"> million or an amount equal to </span><span class=\"f charStyle-c1b8f9f6 ps11032\">7.5%</span><span class=\"f charStyle-c1b8f9f6 ps11033\"> of gross </span></div><div class=\"ps11035 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">interest-bearing debt at all other times.</span></div><div class=\"ps11037 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">\u2022<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1762\">Equity Ratio: The ratio of b</span><span class=\"f charStyle-c1b8f9f6 ps11036\">ook equity to total assets must at </span></div><div class=\"ps11040 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">all times be a minimum </span><span class=\"f charStyle-c1b8f9f6 ps11038\">35%</span><span class=\"f charStyle-c1b8f9f6 ps11039\">.</span></div><div class=\"ps11041 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">\u2022<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1762\">Working capital: The working capital shall be higher than </span></div><div class=\"ps11044 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">zero (</span><span class=\"f charStyle-c1b8f9f6 ps11042\">0</span><span class=\"f charStyle-c1b8f9f6 ps11043\">).</span></div><div class=\"ps11045 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1761\">\u2022<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps1762\">Minimum security value (loan-to-value for individual debt </span></div><div class=\"ps11046 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1762\">facilities).</span></div><div class=\"ps11048 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\"> Additional items included in Green Corporate Facility</span></div><div class=\"ps11049 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2386\">\u2022<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps2387\">If, in any reported quarter, the aggregated loan balance </span></div><div class=\"ps11052 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2387\">exceeds </span><span class=\"f charStyle-c1b8f9f6 ps11050\">80%</span><span class=\"f charStyle-c1b8f9f6 ps11051\"> of the forward-looking expected cash </span></div><div class=\"ps11053 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2387\">revenues from legally binding contracts (the Contracted </span></div><div class=\"ps11054 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2387\">Cash Flows), the Borrower shall prepay the excess amount </span></div><div class=\"ps11055 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2387\">of the loans within five business days.</span></div><div class=\"ps11056 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">Additional items included in Holdco Facility </span></div><div class=\"ps11057 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2386\">\u2022<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps2387\">The Group is subject to a debt service coverage ratio where </span></div><div class=\"ps11058 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2387\">cash flow available for debt service (including available </span></div><div class=\"ps11059 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2387\">liquidity comprising cash, cash equivalents and undrawn </span></div><div class=\"ps11060 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2387\">Green Corporate Facility) at the Parent Company must be at </span></div><div class=\"ps11061 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2387\">leaast two times the debt service cash flow relating to the </span></div><div class=\"ps11062 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2387\">Holdco Facility (2:1). </span></div><div class=\"ps11064 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">Additional items included in M-Class Facility I &amp; II </span></div><div class=\"ps11065 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2386\">\u2022<span class=\"f ps40\"> </span></span><span class=\"f charStyle-c1b8f9f6 ps2387\">The Group is required to maintain a specified number of </span></div><div class=\"ps11066 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps2387\">employees in Denmark.</span></div><div class=\"ps11048 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">All covenants are tested semi-annually, at 30 June and 31 December. </span></div><div class=\"ps11049 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">The Group is in compliance with all covenants. </span></div><div class=\"ps11069 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">As of the reporting date, M-class Facilities I and II remain unutilised. </span></div><div class=\"ps11070 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Due to the non-utilisation of these facilities, no assessment of </span></div><div class=\"ps11071 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">compliance with associated covenants has been required to date. </span></div><div class=\"ps11072 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">These covenants, once applicable, will require assessment upon </span></div><div class=\"ps11073 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">utilisation of the facilities and include customary financial and other </span></div><div class=\"ps11074 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">covenants, including certain change of control provisions, similar to </span></div><div class=\"ps11075 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">those disclosed for the utilised facilities. </span></div><div class=\"ps11076 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">In addition, the Group is in compliance with the following </span></div><div class=\"ps4890 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">requirements:</span></div><div class=\"ps11077 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Restriction on dividends: The Company is not permitted to pay any </span></div><div class=\"ps11078 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">dividends or other distributions without lender\u2019s written consent. </span></div><div class=\"ps11079 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Across the Group\u2019s Debt Facilities, dividends and distributions must </span></div><div class=\"ps11082 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">not exceed </span><span class=\"f charStyle-c1b8f9f6 ps11080\">50%</span><span class=\"f charStyle-c1b8f9f6 ps11081\"> of the consolidated net profit for the respective year </span></div><div class=\"ps11083 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">and the net interest bearing debt to EBITDA ratio should not be lower </span></div><div class=\"ps11086 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">than </span><span class=\"f charStyle-c1b8f9f6 ps11084\">2.75</span><span class=\"f charStyle-c1b8f9f6 ps11085\">:1. Furthermore, under the Holdco Facility, the Company is </span></div><div class=\"ps11087 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">not permitted to make any distributions prior to the delivery of the P-</span></div><div class=\"ps11088 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Class, the first two A-Class and M-Class vessels. </span></div><div class=\"ps11089 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Change of control: If any person or group of persons (other than </span></div><div class=\"ps11090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">Swire Pacific, Scorpio Group or the BW Group) acting in concert </span></div><div class=\"ps11091 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">directly or indirectly gains control of 25% or more of the voting and/</span></div><div class=\"ps11092 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">or ordinary shares of the Borrower, the Agent (acting on the </span></div><div class=\"ps11095 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">instructions of the majority lenders) may, by written notice of </span><span class=\"f charStyle-c1b8f9f6 ps11093\">60</span><span class=\"f charStyle-c1b8f9f6 ps11094\"> days </span></div><div class=\"ps11096 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">cancel the total commitments and demand prepayment of all </span></div><div class=\"ps11097 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps916\">amounts outstanding under the facilities.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDebtSecuritiesExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-597": {
   "value": "<div class=\"ps11100 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Accounting policies<span id=\"ia724b79896824364bb1ed0a2821fa1af\"></span></span></div><div class=\"ps7078 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Debt to credit institutions etc. is recognised at the time of borrowing </span></div><div class=\"ps7079 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">at fair value after deduction of directly attributable transaction costs. </span></div><div class=\"ps7080 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Subsequently, the financial liabilities are measured at amortised cost </span></div><div class=\"ps7081 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">using the \"effective interest method\", whereby the difference </span></div><div class=\"ps7082 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">between the proceeds and the nominal value is recognised in the </span></div><div class=\"ps293 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">statement of profit and loss under financial expenses over the loan </span></div><div class=\"ps294 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">period. </span></div><div class=\"ps7083 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">A financial liability is derecognised when the obligation under the </span></div><div class=\"ps7084 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">liability is discharged, cancelled or expires.</span></div><div class=\"ps11101 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">When an existing financial liability is replaced by another from the </span></div><div class=\"ps11102 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">same lender on substantially different terms, or when the terms of an </span></div><div class=\"ps7023 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">existing liability are substantially modified, such an exchange or </span></div><div class=\"ps7024 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">modification is treated as the derecognition of the original liability </span></div><div class=\"ps7025 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">and the recognition of a new liability.</span></div><div class=\"ps11103 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The difference in the respective carrying amounts of the original and </span></div><div class=\"ps11104 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the new financial liability is recognised in the statement of profit and </span></div><div class=\"ps7026 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">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-598": {
   "value": "<div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">Note 26</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps879\">Business Combination<span id=\"ifa48ab74a3d146f0a3a94e9becaf80b4\"></span></span></div><div class=\"ps6920 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">On 19 December 2023, the Group completed the acquisition of Eneti. </span></div><div class=\"ps7183 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">The fair value of the identified net assets acquired and goodwill </span></div><div class=\"ps7184 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps879\">recognised in the Eneti acquisition comprises as follows:</span></div><div class=\"ps11117 ss0\"><div class=\"ss791 ws0 ps7598\"><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=\"ps37 ss789\"><div><div class=\"ps8191 ss361\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10380 ss790\"><div><div class=\"ps5628 ss602\"><span class=\"f charStyle-281247bf ps11106\">19 December <span class=\"f ps40\"> </span></span></div><div class=\"ps5627 ss602\"><span class=\"f charStyle-281247bf ps11107\">2023</span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps1987 ss789\"><div><div class=\"ps2702 ss361\"><span class=\"f charStyle-1bac868e ps630\">Vessels including dry docks<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11108 ss790\"><div><div class=\"ps2702 ss602\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9478\">296,707</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps7536 ss789\"><div><div class=\"ps2702 ss361\"><span class=\"f charStyle-1bac868e ps630\">Vessel under construction<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps11109 ss790\"><div><div class=\"ps2702 ss602\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9478\">144,219</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps7540 ss789\"><div><div class=\"ps2702 ss361\"><span class=\"f charStyle-1bac868e ps630\">Other fixtures &amp; fittings<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps11110 ss790\"><div><div class=\"ps2702 ss602\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:59.67pt\"></span></span><span class=\"ps632\">598</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps2306 ss789\"><div><div class=\"ps2702 ss361\"><span class=\"f charStyle-1bac868e ps630\">Right-of-use assets<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps11111 ss790\"><div><div class=\"ps2702 ss602\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:52.87pt\"></span></span><span class=\"ps749\">1,033</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps492 ss789\"><div><div class=\"ps2702 ss361\"><span class=\"f charStyle-1bac868e ps630\">Trade and other receivables<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps11112 ss790\"><div><div class=\"ps2702 ss602\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.02pt\"></span></span><span class=\"ps9496\">29,408</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps1041 ss789\"><div><div class=\"ps2702 ss361\"><span class=\"f charStyle-1bac868e ps630\">Inventories<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps11113 ss790\"><div><div class=\"ps2702 ss602\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:59.67pt\"></span></span><span class=\"ps632\">147</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps63 ss789\"><div><div class=\"ps2702 ss361\"><span class=\"f charStyle-1bac868e ps630\">Prepayments<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps11114 ss790\"><div><div class=\"ps2702 ss602\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:52.87pt\"></span></span><span class=\"ps749\">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=\"ps5711 ss789\"><div><div class=\"ps2702 ss361\"><span class=\"f charStyle-1bac868e ps630\">Cash and cash equivalents<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11115 ss790\"><div><div class=\"ps2702 ss602\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:43.17pt\"></span></span><span class=\"ps9478\">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=\"ps5551 ss789\"><div><div class=\"ps2702 ss361\"><span class=\"f charStyle-b07b4361 ps39\">Total assets<span class=\"f ps40\"> </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=\"ps11116 ss790\"><div><div class=\"ps2702 ss602\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:40.77pt\"></span></span><span class=\"ps7400\">581,989</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps11132 ss0\"><div class=\"ss795 ws0 ps11131\"><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=\"ps37 ss739\"><div><div class=\"ps6200 ss361\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10380 ss793\"><div><div class=\"ps4288 ss792\"><span class=\"f charStyle-281247bf ps11120\">19 December 2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps4293 ss789\"><div><div class=\"ps2702 ss361\"><span class=\"f charStyle-1bac868e ps630\">Provisions<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11122 ss794\"><div><div class=\"ps2702 ss792\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:58.12pt\"></span></span><span class=\"ps11121\">6,987</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5195 ss789\"><div><div class=\"ps2702 ss361\"><span class=\"f charStyle-1bac868e ps630\">Deferred tax liabilities<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps11124 ss794\"><div><div class=\"ps2702 ss792\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:53.27pt\"></span></span><span class=\"ps11123\">10,315</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5204 ss789\"><div><div class=\"ps2702 ss361\"><span class=\"f charStyle-1bac868e ps630\">Trade and other payables<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps11125 ss794\"><div><div class=\"ps2702 ss792\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:53.27pt\"></span></span><span class=\"ps11123\">40,271</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5211 ss789\"><div><div class=\"ps2702 ss361\"><span class=\"f charStyle-1bac868e ps630\">Lease liabilities<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps11126 ss794\"><div><div class=\"ps2702 ss792\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:58.12pt\"></span></span><span class=\"ps11121\">1,300</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"padding:0\"><div class=\"ps5220 ss789\"><div><div class=\"ps2702 ss361\"><span class=\"f charStyle-1bac868e ps630\">Deferred charter hire income<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps11127 ss794\"><div><div class=\"ps2702 ss792\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:58.12pt\"></span></span><span class=\"ps11121\">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=\"ps5686 ss789\"><div><div class=\"ps2702 ss361\"><span class=\"f charStyle-1bac868e ps630\">Current income tax liabilities<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11128 ss794\"><div><div class=\"ps2702 ss792\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:58.12pt\"></span></span><span class=\"ps11121\">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=\"ps6305 ss789\"><div><div class=\"ps2702 ss361\"><span class=\"f charStyle-b07b4361 ps39\">Total liabilities<span class=\"f ps40\"> </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=\"ps11130 ss794\"><div><div class=\"ps2702 ss792\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:51.19pt\"></span></span><span class=\"ps11129\">62,027</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7599 ss0\"><div class=\"ss795 ws0 ps11131\"><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=\"ps37 ss789\"><div><div class=\"ps2702 ss361\"><span class=\"f charStyle-b07b4361 ps39\">Total identifiable net assets at fair value<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10380 ss794\"><div><div class=\"ps2702 ss792\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.02pt\"></span></span><span class=\"ps11133\">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=\"ps1987 ss789\"><div><div class=\"ps2702 ss361\"><span class=\"f charStyle-1bac868e ps630\">Goodwill arising on acquisition<span class=\"f ps40\"> </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=\"ps11108 ss794\"><div><div class=\"ps2702 ss792\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:53.27pt\"></span></span><span class=\"ps11123\">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=\"ps7536 ss789\"><div><div class=\"ps2702 ss361\"><span class=\"f charStyle-b07b4361 ps39\">Purchase price transferred<span class=\"f ps40\"> </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=\"ps11109 ss794\"><div><div class=\"ps2702 ss792\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:46.02pt\"></span></span><span class=\"ps11133\">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=\"ps7540 ss789\"><div><div class=\"ps2702 ss361\"><span class=\"f charStyle-1bac868e ps630\">Cash and cash equivalents acquired<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11110 ss794\"><div><div class=\"ps2702 ss792\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.42pt\"></span></span><span class=\"ps11134\">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=\"ps2306 ss789\"><div><div class=\"ps2702 ss361\"><span class=\"f charStyle-1bac868e ps630\">Consideration paid in shares<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11111 ss794\"><div><div class=\"ps2702 ss792\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:48.42pt\"></span></span><span class=\"ps11134\">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=\"ps492 ss789\"><div><div class=\"ps2702 ss361\"><span class=\"f charStyle-b07b4361 ps39\">Net cash purchase price<span class=\"f ps40\"> </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=\"ps11112 ss794\"><div><div class=\"ps2702 ss792\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.55pt\"></span></span><span class=\"ps11135\">(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-599": {
   "value": "<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 ps183\">Note 27</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Related Party Transactions<span id=\"i2bb192173dd14b49a28761a863971e08\"></span></span></div><div class=\"ps7183 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The following significant transactions took place between the Company and related parties within the BW <span class=\"f ps40\"> </span></span></div><div class=\"ps7184 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Group, Scorpio Holdings and Swire Pacific Offshore Holdings Group at terms agreed between the parties:</span></div><div class=\"ps8675 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps11136\"> </span><div class=\"ss176 ws0 ps67\"><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=\"ps37 ss797\"><div><div class=\"ps621 ss796\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11137 ss798\"><div><div class=\"ps619 ss452\"><span class=\"f charStyle-281247bf ps4658\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11138 ss798\"><div><div class=\"ps619 ss452\"><span class=\"f charStyle-054ead99 ps4658\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2187 ss798\"><div><div class=\"ps619 ss452\"><span class=\"f charStyle-054ead99 ps4658\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:26.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps622 ss799\"><div><div class=\"ps3894 ss796\"><span class=\"f charStyle-e5ec5c44 ps39\">Purchases of services from related parties<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11139 ss800\"><div><div class=\"ps3894 ss452\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.97pt\"></span></span><span class=\"ps10719\">(5,732)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11140 ss800\"><div><div class=\"ps3894 ss452\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.97pt\"></span></span><span class=\"ps10719\">(8,260)</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11141 ss800\"><div><div class=\"ps3894 ss452\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:15.97pt\"></span></span><span class=\"ps10719\">(9,216)</span></span></div></div></div></td></tr><tr style=\"height:26.25pt\"><td style=\"padding:0\"><div class=\"ps11142 ss799\"><div><div class=\"ps3894 ss796\"><span class=\"f charStyle-1bac868e ps630\">BW Group Limited (including subsidiaries)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps11143 ss800\"><div><div class=\"ps3894 ss452\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.95pt\"></span></span><span class=\"ps10711\">(5,455)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11144 ss800\"><div><div class=\"ps3894 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.95pt\"></span></span><span class=\"ps10711\">(7,121)</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11145 ss800\"><div><div class=\"ps3894 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.95pt\"></span></span><span class=\"ps10711\">(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=\"ps3748 ss799\"><div><div class=\"ps3894 ss796\"><span class=\"f charStyle-1bac868e ps630\">Scorpio Holdings Limited (including subsidiaries)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11147 ss800\"><div><div class=\"ps3894 ss452\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:25.75pt\"></span></span><span class=\"ps11146\">(277)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11148 ss800\"><div><div class=\"ps3894 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:18.95pt\"></span></span><span class=\"ps10711\">(1,139)</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11150 ss800\"><div><div class=\"ps3894 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.6pt\"></span></span><span class=\"ps11149\">(17)</span></span></div></div></div></td></tr><tr style=\"height:26.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps767 ss799\"><div><div class=\"ps3894 ss796\"><span class=\"f charStyle-e5ec5c44 ps39\">Receivables from related parties at reported period<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11151 ss800\"><div><div class=\"ps3894 ss452\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.72pt\"></span></span><span class=\"ps10697\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11152 ss800\"><div><div class=\"ps3894 ss452\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.21pt\"></span></span><span class=\"ps6135\">214</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11153 ss800\"><div><div class=\"ps3894 ss452\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.21pt\"></span></span><span class=\"ps6135\">592</span></span></div></div></div></td></tr><tr style=\"height:26.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11154 ss799\"><div><div class=\"ps3894 ss796\"><span class=\"f charStyle-1bac868e ps630\">Scorpio Holdings Limited (including subsidiaries)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11155 ss800\"><div><div class=\"ps3894 ss452\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.72pt\"></span></span><span class=\"ps10697\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11156 ss800\"><div><div class=\"ps3894 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7805\">214</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11157 ss800\"><div><div class=\"ps3894 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7805\">592</span></span></div></div></div></td></tr><tr style=\"height:26.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps672 ss799\"><div><div class=\"ps3894 ss796\"><span class=\"f charStyle-e5ec5c44 ps39\">Payables to related parties at reported period<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11158 ss800\"><div><div class=\"ps3894 ss452\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.21pt\"></span></span><span class=\"ps6135\">382</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11159 ss800\"><div><div class=\"ps3894 ss452\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.21pt\"></span></span><span class=\"ps6135\">223</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11160 ss800\"><div><div class=\"ps3894 ss452\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:30.21pt\"></span></span><span class=\"ps6135\">162</span></span></div></div></div></td></tr><tr style=\"height:26.25pt\"><td style=\"padding:0\"><div class=\"ps4637 ss799\"><div><div class=\"ps3894 ss796\"><span class=\"f charStyle-1bac868e ps630\">BW Group Limited (including subsidiaries)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps11161 ss800\"><div><div class=\"ps3894 ss452\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7805\">306</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11162 ss800\"><div><div class=\"ps3894 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7805\">181</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11163 ss800\"><div><div class=\"ps3894 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.02pt\"></span></span><span class=\"ps7274\">10</span></span></div></div></div></td></tr><tr style=\"height:26.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8828 ss799\"><div><div class=\"ps3894 ss796\"><span class=\"f charStyle-1bac868e ps630\">Scorpio Holdings Limited (including subsidiaries)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11164 ss800\"><div><div class=\"ps3894 ss452\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.02pt\"></span></span><span class=\"ps7274\">76</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11165 ss800\"><div><div class=\"ps3894 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.02pt\"></span></span><span class=\"ps7274\">42</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11166 ss800\"><div><div class=\"ps3894 ss452\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:31.17pt\"></span></span><span class=\"ps7805\">152</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps11167 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Related party transactions during the reporting period are primarily related to guarantee fees charged by </span></div><div class=\"ps11168 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">BW Group Limited, bunker supply provided by Hafnia Pools (a member of the BW Group), training-related </span></div><div class=\"ps11169 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">costs charged by BW Maritime, and administrative expenses charged by Scorpio Services Holding. </span></div><div class=\"ps11172 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">As at 31 December 2025, approximately EUR </span><span class=\"f charStyle-c1b8f9f6 ps11170\">3\u00a0million</span><span class=\"f charStyle-c1b8f9f6 ps11171\"> recognised within prepayments relates to legal and </span></div><div class=\"ps11173 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">advisory costs incurred by the Company on behalf of a special purpose vehicle incorporated by BW Altor </span></div><div class=\"ps11174 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Pte. Ltd. in connection with the Cadeler Group\u2019s proposed re-domiciliation to the United Kingdom, as first </span></div><div class=\"ps11175 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">disclosed on 28 June 2024. It is anticipated that these costs will be reimbursed by the special purposes </span></div><div class=\"ps11176 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">vehicle (which is today a related party) immediately following the contemplated transaction, which the </span></div><div class=\"ps11177 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Company expects to complete in 2026.</span></div><div class=\"ps7183 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">In addition, Cadeler has not entered into any significant transactions with members of the Cadeler Board of </span></div><div class=\"ps7184 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Directors or Executive Management, other than remuneration and reimbursement of expenses. Cadeler has </span></div><div class=\"ps7186 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">not provided or granted any loans or guarantees to its directors or Executive Management. For information </span></div><div class=\"ps7187 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">on remuneration paid to members of the Cadeler Board and Executive Management, refer to </span><span class=\"f charStyle-c1b8f9f6 ps11178\">Note 8.</span></div><div class=\"ps11179 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Group\u2019s Related Party Transactions<span id=\"i6b1ab329e45d44a4a30987e63b836a0b\"></span></span></div><div class=\"ps7579 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Members of Cadeler\u2019s Executive Management and its Board of Directors, as well as their respective close </span></div><div class=\"ps6936 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">family members and entities controlled by them or over which they exercise significant influence are </span></div><div class=\"ps6937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">considered related parties of Cadeler. BW Altor Pte. Ltd. (\u201cBW Altor\u201d) and Scorpio Holdings Limited (\u201cScorpio </span></div><div class=\"ps6940 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Holdings\u201d), together with certain of their respective affiliates are considered related parties as they are </span></div><div class=\"ps2794 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">deemed to be controlled by, or under the significant influence of, Andreas Sohmen-Pao and Emanuele </span></div><div class=\"ps2795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Lauro (each a member of Cadeler\u2019s Board of Directors), respectively. For the financial year 2022, Swire </span></div><div class=\"ps2796 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Pacific Limited (\u201cSwire Pacific\u201d) was considered a related party of Cadeler due to its significant ownership </span></div><div class=\"ps2797 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">stake and the fact that one of its employees served as a director on the Cadeler Board of Directors. </span></div><div class=\"ps2798 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">However, with effect from 1 January 2023, Cadeler ceased to consider Swire Pacific to be a related party due </span></div><div class=\"ps2799 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">to its reduced ownership percentage and the fact that it was no longer represented on Cadeler\u2019s Board of </span></div><div class=\"ps3463 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Directors.</span></div><div class=\"ps2801 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">For the financial years ended </span><span class=\"f charStyle-c1b8f9f6 ps11180\">31\u00a0December 2025</span><span class=\"f charStyle-c1b8f9f6 ps11181\">, </span><span class=\"f charStyle-c1b8f9f6 ps11182\">2024</span><span class=\"f charStyle-c1b8f9f6 ps11183\"> and </span><span class=\"f charStyle-c1b8f9f6 ps11184\">2023</span><span class=\"f charStyle-c1b8f9f6 ps11185\">, there were no material transactions </span></div><div class=\"ps2802 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">between Cadeler or any entity within the Cadeler Group and BW Altor, Scorpio Holdings and/or Swire </span></div><div class=\"ps2803 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Pacific (or their respective affiliates) other than the transactions described below.</span></div></div><div class=\"ps7090 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Guarantees provided by BW Group<span id=\"i7e09cec18145458faf06e5c2ac0d695d\"></span></span></div><div class=\"ps369 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">BW Group has provided COSCO with </span><span class=\"f charStyle-c1b8f9f6 ps11187\">four</span><span class=\"f charStyle-c1b8f9f6 ps11188\"> guarantees in respect of </span></div><div class=\"ps370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the sums payable by Cadeler in accordance with the contracts for the </span></div><div class=\"ps397 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">construction of certain P-class and A-class WTIVs in 2021, 2022 and </span></div><div class=\"ps7437 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">2023. Under this guarantee arrangement, certain fees are payable by </span></div><div class=\"ps7438 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the Group to BW Group until the guarantees are discharged in full.</span></div><div class=\"ps374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">On 27 May 2024, additional guarantees were provided in respect of </span></div><div class=\"ps375 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the sums owed by Cadeler pursuant to the ordered third A-class </span></div><div class=\"ps376 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">vessel. </span></div><div class=\"ps11189 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Training courses provided by BW Maritime<span id=\"i3d29e78920a0443eb7d7314c92dbb326\"></span></span></div><div class=\"ps8702 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">BW Maritime has provided training courses for Cadeler\u2019s onshore </span></div><div class=\"ps11190 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">staff as well as reimbursement of travelling costs for board members.</span></div><div class=\"ps11191 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Administrative support provided by Scorpio Services <span id=\"i2d723143f9754066b9ced867ca33d860\"></span></span></div><div class=\"ps11192 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Holding</span></div><div class=\"ps3002 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The Group, due to the business combination with Eneti, holds an </span></div><div class=\"ps3003 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">agreement with Scorpio Services Holding (\u201cSSH\u201d) for the provision of </span></div><div class=\"ps3100 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">administrative staff, office space and accounting, legal compliance, </span></div><div class=\"ps3101 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">financial and information technology services for which it is required </span></div><div class=\"ps3102 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">to reimburse to SSH for the direct and indirect expenses incurred in </span></div><div class=\"ps3132 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">providing such services. </span></div><div class=\"ps11193 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Ultramax and Kamsarmax pools<span id=\"i8f3505abd1d04bb9b1585bd5dd4f8f18\"></span></span></div><div class=\"ps11194 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Through the business combination the Company acquired </span></div><div class=\"ps11196 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">receivables positions from Enet</span><span class=\"f charStyle-c1b8f9f6 ps11195\">i related to transactions to Scorpio </span></div><div class=\"ps11197 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Group related parties for commercial management services. These </span></div><div class=\"ps7251 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">services involved securing employment for Eneti\u2019s drybulk vessels in </span></div><div class=\"ps9926 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the spot market or on time charters. The pools are owned by Scorpio </span></div><div class=\"ps11198 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Holdings which is considered a related party.</span></div><div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 29</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Group Information<span id=\"i83c2450c9bb34a7c8d46a5d024a65e6b\"></span></span></div><div class=\"ps6920 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The consolidated financial statements of the Group include the following subsidiaries, which are all wholly </span></div><div class=\"ps11327 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">owned by the Parent Company: </span></div><div class=\"ps11352 ss0\"><div class=\"ss118 ws0 ps67\"><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=\"ps37 ss808\"><div><div class=\"ps4288 ss807\"><span class=\"f charStyle-23b55a92 ps39\">Entities<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11328 ss325\"><div><div class=\"ps4288 ss316\"><span class=\"f charStyle-23b55a92 ps39\">Country<span class=\"f ps40\"> </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=\"ps4293 ss808\"><div><div class=\"ps2174 ss807\"><span class=\"f charStyle-2b5af115 ps39\">Vessel owning entities<span class=\"f ps40\"> </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=\"ps6211 ss808\"><div><div class=\"ps2174 ss807\"><span class=\"f charStyle-1bac868e ps630\">Wind Orca Ltd<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11329 ss325\"><div><div class=\"ps2174 ss316\"><span class=\"f charStyle-2b5af115 ps39\">Cyprus<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps6218 ss808\"><div><div class=\"ps2174 ss807\"><span class=\"f charStyle-1bac868e ps630\">Wind Osprey Ltd<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11330 ss325\"><div><div class=\"ps2174 ss316\"><span class=\"f charStyle-2b5af115 ps39\">Cyprus<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps6224 ss808\"><div><div class=\"ps2174 ss807\"><span class=\"f charStyle-1bac868e ps630\">Wind Peak Ltd (formerly referred as to N1063 Ltd)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11331 ss325\"><div><div class=\"ps2174 ss316\"><span class=\"f charStyle-2b5af115 ps39\">Cyprus<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps6132 ss808\"><div><div class=\"ps2174 ss807\"><span class=\"f charStyle-1bac868e ps630\">Wind Pace Ltd (formerly referred as to N1064 Ltd)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11332 ss325\"><div><div class=\"ps2174 ss316\"><span class=\"f charStyle-2b5af115 ps39\">Cyprus<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps6339 ss808\"><div><div class=\"ps2174 ss807\"><span class=\"f charStyle-1bac868e ps630\">Wind Ally Ltd.<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11333 ss325\"><div><div class=\"ps2174 ss316\"><span class=\"f charStyle-2b5af115 ps39\">Cyprus<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps6345 ss808\"><div><div class=\"ps2174 ss807\"><span class=\"f charStyle-1bac868e ps630\">Wind Ace Ltd.<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11334 ss325\"><div><div class=\"ps2174 ss316\"><span class=\"f charStyle-2b5af115 ps39\">Cyprus<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps2310 ss808\"><div><div class=\"ps2174 ss807\"><span class=\"f charStyle-1bac868e ps630\">Wind Maker Ltd (formerly referred to as Seajacks 1 Ltd)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11335 ss325\"><div><div class=\"ps2174 ss316\"><span class=\"f charStyle-2b5af115 ps39\">UK<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps2016 ss808\"><div><div class=\"ps2174 ss807\"><span class=\"f charStyle-1bac868e ps630\">Wind Mover Ltd (formerly referred to as Seajacks 5 Ltd)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11336 ss325\"><div><div class=\"ps2174 ss316\"><span class=\"f charStyle-2b5af115 ps39\">UK<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps6357 ss808\"><div><div class=\"ps2174 ss807\"><span class=\"f charStyle-1bac868e ps630\">Wind Scylla Ltd (formerly referred to as Seajacks 5 Ltd)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11337 ss325\"><div><div class=\"ps2174 ss316\"><span class=\"f charStyle-2b5af115 ps39\">UK<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps6362 ss808\"><div><div class=\"ps2174 ss807\"><span class=\"f charStyle-1bac868e ps630\">Wind Keeper Ltd (formerly referred to as Seajacks 7 Ltd)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11338 ss325\"><div><div class=\"ps2174 ss316\"><span class=\"f charStyle-2b5af115 ps39\">UK<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2220 ss808\"><div><div class=\"ps2174 ss807\"><span class=\"f charStyle-1bac868e ps630\">Seajacks 3 Japan LLC<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11339 ss325\"><div><div class=\"ps2174 ss316\"><span class=\"f charStyle-2b5af115 ps39\">Japan<span class=\"f ps40\"> </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=\"ps685 ss808\"><div><div class=\"ps2174 ss807\"><span class=\"f charStyle-2b5af115 ps39\">Trading and Operations<span class=\"f ps40\"> </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=\"ps2111 ss808\"><div><div class=\"ps2174 ss807\"><span class=\"f charStyle-1bac868e ps630\">Cadeler UK Ltd (formerly referred to as Seajacks UK Ltd)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11340 ss325\"><div><div class=\"ps2174 ss316\"><span class=\"f charStyle-2b5af115 ps39\">UK<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps795 ss808\"><div><div class=\"ps2174 ss807\"><span class=\"f charStyle-cb69ec08 ps630\">Cadeler UK Ltd Taiwan Branch (formerly referred as to Seajacks UK Ltd Taiwan Branch)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11341 ss325\"><div><div class=\"ps2174 ss316\"><span class=\"f charStyle-2b5af115 ps39\">Taiwan<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps1052 ss808\"><div><div class=\"ps2174 ss807\"><span class=\"f charStyle-1bac868e ps630\">Seajacks US Inc.<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11342 ss325\"><div><div class=\"ps2174 ss316\"><span class=\"f charStyle-2b5af115 ps39\">USA<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps7663 ss808\"><div><div class=\"ps2174 ss807\"><span class=\"f charStyle-1bac868e ps630\">Seajacks Merman Marine Ltd<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11343 ss325\"><div><div class=\"ps2174 ss316\"><span class=\"f charStyle-2b5af115 ps39\">Bermuda<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps3782 ss808\"><div><div class=\"ps2174 ss807\"><span class=\"f charStyle-cb69ec08 ps630\">Cadeler Crewing Services Ltd (formerly referred to as Seajacks Crewing Services Ltd)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11344 ss325\"><div><div class=\"ps2174 ss316\"><span class=\"f charStyle-2b5af115 ps39\">UK<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps9850 ss808\"><div><div class=\"ps2174 ss807\"><span class=\"f charStyle-cb69ec08 ps630\">Cadeler Management Services SARL<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11345 ss325\"><div><div class=\"ps2174 ss316\"><span class=\"f charStyle-2b5af115 ps39\">Monaco<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps4855 ss808\"><div><div class=\"ps2174 ss807\"><span class=\"f charStyle-1bac868e ps630\">Seajacks Japan LLC<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11346 ss325\"><div><div class=\"ps2174 ss316\"><span class=\"f charStyle-2b5af115 ps39\">Japan<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps6460 ss808\"><div><div class=\"ps2174 ss807\"><span class=\"f charStyle-2b5af115 ps39\">Investment holding entities<span class=\"f ps40\"> </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=\"ps11347 ss808\"><div><div class=\"ps2174 ss807\"><span class=\"f charStyle-1bac868e ps630\">Wind MI Ltd<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11348 ss325\"><div><div class=\"ps2174 ss316\"><span class=\"f charStyle-2b5af115 ps39\">Marshall Islands<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps11349 ss808\"><div><div class=\"ps2174 ss807\"><span class=\"f charStyle-1bac868e ps630\">Cadeler Holdings Ltd (formerly referred to as Atlantis Investorco Ltd)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11350 ss325\"><div><div class=\"ps2174 ss316\"><span class=\"f charStyle-2b5af115 ps39\">Bermuda<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"><div class=\"ps4051 ss808\"><div><div class=\"ps2174 ss807\"><span class=\"f charStyle-1bac868e ps630\">Atlantis Investorco Ltd<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11351 ss325\"><div><div class=\"ps2174 ss316\"><span class=\"f charStyle-2b5af115 ps39\">UK<span class=\"f ps40\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps11358 ss0\"><div class=\"ss118 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=\"ps37 ss808\"><div><div class=\"ps4288 ss807\"><span class=\"f charStyle-23b55a92 ps39\">Entities<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#225f78;padding:0\"><div class=\"ps11328 ss325\"><div><div class=\"ps4288 ss316\"><span class=\"f charStyle-23b55a92 ps39\">Country<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps4293 ss809\"><div><div class=\"ps41 ss807\"><span class=\"f charStyle-2b5af115 ps39\">Investment holding entities (continuation)<span class=\"f ps40\"> </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=\"ps2576 ss809\"><div><div class=\"ps41 ss807\"><span class=\"f charStyle-1bac868e ps630\">Cadeler International Ltd (formerly referred to as Seajacks International Ltd)<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11354 ss328\"><div><div class=\"ps41 ss316\"><span class=\"f charStyle-1bac868e ps39\">UK<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps9803 ss809\"><div><div class=\"ps41 ss807\"><span class=\"f charStyle-2b5af115 ps39\">Dormant entities<span class=\"f ps40\"> </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=\"ps2074 ss809\"><div><div class=\"ps41 ss807\"><span class=\"f charStyle-1bac868e ps630\">SBI Chartering and Trading Ltd<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11355 ss328\"><div><div class=\"ps41 ss316\"><span class=\"f charStyle-1bac868e ps39\">Marshall Islands<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps2265 ss809\"><div><div class=\"ps41 ss807\"><span class=\"f charStyle-1bac868e ps630\">SBI Macarena Shipping Company Ltd<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11356 ss328\"><div><div class=\"ps41 ss316\"><span class=\"f charStyle-1bac868e ps39\">Marshall Islands<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps2271 ss809\"><div><div class=\"ps41 ss807\"><span class=\"f charStyle-1bac868e ps630\">SBI Taurus Shipping Company Ltd<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11357 ss328\"><div><div class=\"ps41 ss316\"><span class=\"f charStyle-1bac868e ps39\">Marshall Islands<span class=\"f ps40\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps11362 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">During </span><span class=\"f charStyle-c1b8f9f6 ps11360\">2025</span><span class=\"f charStyle-c1b8f9f6 ps11361\">, several entities were dissolved: </span></div><div class=\"ps11375 ss0\"><div class=\"ss118 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=\"ps37 ss810\"><div><div class=\"ps11363 ss807\"><span class=\"f charStyle-23b55a92 ps39\">Entities<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps11328 ss811\"><div><div class=\"ps11363 ss316\"><span class=\"f charStyle-23b55a92 ps39\">Country<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps4785 ss809\"><div><div class=\"ps41 ss807\"><span class=\"f charStyle-2b5af115 ps39\">Investment holding entities<span class=\"f ps40\"> </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=\"ps11364 ss809\"><div><div class=\"ps41 ss807\"><span class=\"f charStyle-1bac868e ps630\">Atlantis Equityco Ltd<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11365 ss328\"><div><div class=\"ps41 ss316\"><span class=\"f charStyle-1bac868e ps39\">UK<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps2069 ss809\"><div><div class=\"ps41 ss807\"><span class=\"f charStyle-1bac868e ps630\">Atlantis Midco Ltd<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11366 ss328\"><div><div class=\"ps41 ss316\"><span class=\"f charStyle-1bac868e ps39\">UK<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"background-color:#ecedef;padding:0\"><div class=\"ps2167 ss809\"><div><div class=\"ps41 ss807\"><span class=\"f charStyle-2b5af115 ps39\">Dormant entities<span class=\"f ps40\"> </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=\"ps2197 ss809\"><div><div class=\"ps41 ss807\"><span class=\"f charStyle-1bac868e ps630\">SBI Parapara Shipping Company Ltd<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11367 ss328\"><div><div class=\"ps41 ss316\"><span class=\"f charStyle-1bac868e ps39\">Marshall Islands<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps5667 ss809\"><div><div class=\"ps41 ss807\"><span class=\"f charStyle-1bac868e ps630\">SBI Pegasus Shipping Company Ltd<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11368 ss328\"><div><div class=\"ps41 ss316\"><span class=\"f charStyle-1bac868e ps39\">Marshall Islands<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps5673 ss809\"><div><div class=\"ps41 ss807\"><span class=\"f charStyle-1bac868e ps630\">SBI Perseus Shipping Company Ltd<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11369 ss328\"><div><div class=\"ps41 ss316\"><span class=\"f charStyle-1bac868e ps39\">Marshall Islands<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps1819 ss809\"><div><div class=\"ps41 ss807\"><span class=\"f charStyle-1bac868e ps630\">Eneti (Bermuda) Ltd<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11370 ss328\"><div><div class=\"ps41 ss316\"><span class=\"f charStyle-1bac868e ps39\">Bermuda<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps11371 ss809\"><div><div class=\"ps41 ss807\"><span class=\"f charStyle-1bac868e ps630\">Seajacks 2 Ltd<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11372 ss328\"><div><div class=\"ps41 ss316\"><span class=\"f charStyle-1bac868e ps39\">UK<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps6362 ss809\"><div><div class=\"ps41 ss807\"><span class=\"f charStyle-1bac868e ps630\">Seajacks 3 Ltd<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11338 ss328\"><div><div class=\"ps41 ss316\"><span class=\"f charStyle-1bac868e ps39\">UK<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps11373 ss809\"><div><div class=\"ps41 ss807\"><span class=\"f charStyle-1bac868e ps630\">Seajacks 8 Limited<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11374 ss328\"><div><div class=\"ps41 ss316\"><span class=\"f charStyle-1bac868e ps39\">UK<span class=\"f ps40\"> </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-601": {
   "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 ps183\">Note 28</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Commitments and Pledges<span id=\"i9559c362fa7445d2813ba504bfe1d578\"></span></span></div><div class=\"ps7795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Lease commitments<span id=\"ic1943004030a4b58bd199d4476407e94\"></span></span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The future minimum lease payables under non-cancellable low value and short-term leases contracted for </span></div><div class=\"ps7161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">at the balance sheet date but not recognised as liabilities are as follows:</span></div><div class=\"ps11212 ss0\"><div class=\"ss176 ws0 ps67\"><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=\"ps37 ss801\"><div><div class=\"ps7214 ss669\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8886 ss802\"><div><div class=\"ps2573 ss746\"><span class=\"f charStyle-281247bf ps11199\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7215 ss802\"><div><div class=\"ps2573 ss746\"><span class=\"f charStyle-054ead99 ps11199\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10658 ss802\"><div><div class=\"ps2573 ss746\"><span class=\"f charStyle-054ead99 ps11199\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2576 ss801\"><div><div class=\"ps2573 ss669\"><span class=\"f charStyle-1bac868e ps630\">Not later than one year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11201 ss802\"><div><div class=\"ps2573 ss746\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:54.77pt\"></span></span><span class=\"ps11200\">16,483</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11202 ss802\"><div><div class=\"ps2573 ss746\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:66.42pt\"></span></span><span class=\"ps7975\">117</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11204 ss802\"><div><div class=\"ps2573 ss746\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:59.62pt\"></span></span><span class=\"ps11203\">1,090</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps1993 ss801\"><div><div class=\"ps2573 ss669\"><span class=\"f charStyle-1bac868e ps630\">Between one and five years<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11205 ss802\"><div><div class=\"ps2573 ss746\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:66.42pt\"></span></span><span class=\"ps7975\">229</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7218 ss802\"><div><div class=\"ps2573 ss746\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:66.42pt\"></span></span><span class=\"ps7975\">219</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11206 ss802\"><div><div class=\"ps2573 ss746\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:59.62pt\"></span></span><span class=\"ps11203\">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=\"ps11208 ss802\"><div><div class=\"ps2573 ss746\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:52.69pt\"></span></span><span class=\"ps11207\">16,712</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7221 ss802\"><div><div class=\"ps2573 ss746\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:65.46pt\"></span></span><span class=\"ps11209\">336</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11211 ss802\"><div><div class=\"ps2573 ss746\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:57.86pt\"></span></span><span class=\"ps11210\">6,074</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps1002 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">As of 31 December 2025, the Company\u2019s lease commitments included the lease of third-party vessels </span></div><div class=\"ps3577 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">related to T&amp;I activities.</span></div><div class=\"ps3579 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">As of 31 December 2023, the Company\u2019s lease commitments included the tenure of the new headquarters. </span></div><div class=\"ps3580 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">These commitments were reflected on the balance sheet starting in Q1 2024 as 'Right-of-Use Assets' and </span></div><div class=\"ps3573 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">'Lease Liabilities' in accordance with IFRS 16. </span></div><div class=\"ps7183 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The Group has issued performance and payment guarantees through its banking partners in favour of </span></div><div class=\"ps7184 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">customers and suppliers in connection with offshore wind installation projects. At 31 December 2025, </span></div><div class=\"ps7186 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">outstanding guarantees totalled EUR </span><span class=\"f charStyle-c1b8f9f6 ps11214\">253</span><span class=\"f charStyle-c1b8f9f6 ps11215\"> million</span><span class=\"f charStyle-c1b8f9f6 ps11216\">. The guarantees relate to the Group\u2019s contractual </span></div><div class=\"ps7187 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">performance and payment obligations. No provision has been recognised, as management assesses that an </span></div><div class=\"ps7188 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">outflow of resources is not probable. The Group would be required to reimburse the issuing bank should </span></div><div class=\"ps7189 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">any guarantee be called.</span></div><div class=\"ps11217 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Pledge of Fixed Assets<span id=\"i11e388798bec455fa903297668fa64c6\"></span></span></div><div class=\"ps6937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The Green Corporate Facility detailed in </span><span class=\"f charStyle-c1b8f9f6 ps11218\">Note 25</span><span class=\"f charStyle-c1b8f9f6 ps11219\"> is secured by, inter alia, a first priority mortgage over the </span></div><div class=\"ps6940 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Wind Orca, Wind Osprey, Wind Scylla and Wind Zaratan Vessels (</span><span class=\"f charStyle-c1b8f9f6 ps11220\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps11221\"> </span><span class=\"f charStyle-c1b8f9f6 ps11222\">603</span><span class=\"f charStyle-c1b8f9f6 ps11223\"> million</span><span class=\"f charStyle-c1b8f9f6 ps11224\"> carrying amount, see </span><span class=\"f charStyle-c1b8f9f6 ps11225\">Note </span></div><div class=\"ps2794 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">13</span><span class=\"f charStyle-c1b8f9f6 ps11226\">). In addition, the facility is secured by a first priority assignment of the earnings of the vessel-owning </span></div><div class=\"ps2795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">entities, including certain change of control provisions which are similar to those included in the P-class </span></div><div class=\"ps2796 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Facility.</span></div><div class=\"ps7174 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The P-class Facility, detailed in </span><span class=\"f charStyle-c1b8f9f6 ps11227\">Note 25,</span><span class=\"f charStyle-c1b8f9f6 ps11228\"> is secured by a first priority mortgage over the P-class newbuild </span></div><div class=\"ps7175 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">vessels, first priority assignments of the insurances and earnings of the P-class newbuilds by Cadeler and the </span></div><div class=\"ps7177 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">two</span><span class=\"f charStyle-c1b8f9f6 ps11229\"> borrowers and contain customary financial and other covenants, including certain change of control </span></div><div class=\"ps2800 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">provisions. A change of control under the P-class Facility if any person or group of persons acting in concert </span></div><div class=\"ps2801 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">(other than Swire Pacific and the BW Group) legally and beneficially holds more than </span><span class=\"f charStyle-c1b8f9f6 ps11230\">25%</span><span class=\"f charStyle-c1b8f9f6 ps11231\"> of both the issued </span></div><div class=\"ps2802 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">and outstanding share capital and/or the issued and outstanding voting share capital of Cadeler A/S. In </span></div><div class=\"ps2803 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">addition, certain changes to the ownership structure further down in the Group will also trigger a change of </span></div><div class=\"ps2804 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">control, including, among others, circumstances in which Wind Pace Ltd (formerly referred as to N1064 Ltd) </span></div><div class=\"ps2805 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">or Wind Peak Ltd (formerly referred as to N1063 Ltd) ceases to be a wholly owned (direct or indirect) </span></div><div class=\"ps2806 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">subsidiary of Cadeler.</span></div></div><div class=\"ps7006 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Contractual amounts, newbuilds vessels:<span id=\"i6dd288598457476eb437b2d3725905c4\"></span></span></div><div class=\"ps11302 ss0\"><div class=\"ss806 ws0 ps67\"><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:23.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps37 ss803\"><div><div class=\"ps11236 ss555\"><span class=\"f charStyle-64a4cf84 ps39\">Millions<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6787 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-054ead99 ps11237\">P-Class<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11239 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-054ead99 ps11238\">M-Class<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11241 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-054ead99 ps11240\">A-Class<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11243 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-281247bf ps11242\">Total<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2068 ss803\"><div><div class=\"ps4607 ss555\"><span class=\"f charStyle-1bac868e ps630\">Contract amount in EUR<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11245 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11244\">220</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11246 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10607\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11247 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11244\">299</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11248 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11244\">519</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2069 ss803\"><div><div class=\"ps4607 ss555\"><span class=\"f charStyle-1bac868e ps630\">Contract amount in USD<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11249 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11244\">390</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11250 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11244\">655</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11251 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11244\">794</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11252 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10593\">1,839</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=\"ps9223 ss803\"><div><div class=\"ps4607 ss555\"><span class=\"f charStyle-e5ec5c44 ps39\">Total Contract amount translated to EUR<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11254 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.79pt\"></span></span><span class=\"ps11253\">573<span style=\"display:inline-block;height:6.55pt;width:3.32pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11255 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.79pt\"></span></span><span class=\"ps11253\">600<span style=\"display:inline-block;height:6.55pt;width:3.32pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11257 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-b07b4361 ps11256\">981<span class=\"f ps40\"> </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=\"ps11258 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.86pt\"></span></span><span class=\"ps10614\">2,154</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td colspan=\"2\" style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2271 ss805\"><div><div class=\"ps10836 ss804\"><span class=\"f charStyle-84544045 ps39\">Remaining commitments, newbuilds vessels:</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:23.25pt\"><td style=\"padding:0\"><div class=\"ps11259 ss803\"><div><div class=\"ps4607 ss555\"><span class=\"f charStyle-1bac868e ps630\">Commitment amount in EUR<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11260 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10607\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11261 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10607\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11263 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.27pt\"></span></span><span class=\"ps11262\">40</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps11264 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.27pt\"></span></span><span class=\"ps11262\">40</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2095 ss803\"><div><div class=\"ps4607 ss555\"><span class=\"f charStyle-1bac868e ps630\">Commitment amount in USD<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11265 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10607\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11266 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10607\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11267 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11244\">496</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11268 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11244\">496</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=\"ps6305 ss803\"><div><div class=\"ps11269 ss555\"><span class=\"f charStyle-e5ec5c44 ps39\">Remaining commitment translated to EUR at <span class=\"f ps40\"> </span></span></div><div class=\"ps11270 ss555\"><span class=\"f charStyle-e5ec5c44 ps39\">31 December 2025</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11272 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.3pt\"></span></span><span class=\"ps11271\">\u2014<span style=\"display:inline-block;height:6.55pt;width:3.32pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11273 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.3pt\"></span></span><span class=\"ps11271\">\u2014<span style=\"display:inline-block;height:6.55pt;width:3.32pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11274 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-b07b4361 ps11256\">462<span class=\"f ps40\"> </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=\"ps10700 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.46pt\"></span></span><span class=\"ps11275\">462</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps3979 ss803\"><div><div class=\"ps4607 ss555\"><span class=\"f charStyle-2b5af115 ps39\">Commitment amount in EUR<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11276 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10607\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11277 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10607\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11278 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11244\">105</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11279 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11244\">105</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2591 ss803\"><div><div class=\"ps4607 ss555\"><span class=\"f charStyle-2b5af115 ps39\">Commitment amount in USD<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11280 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11244\">193</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11281 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11244\">425</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11282 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11244\">724</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11283 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10593\">1,342</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=\"ps11284 ss803\"><div><div class=\"ps11269 ss555\"><span class=\"f charStyle-e5ec5c44 ps39\">Remaining commitment translated to EUR at <span class=\"f ps40\"> </span></span></div><div class=\"ps11270 ss555\"><span class=\"f charStyle-e5ec5c44 ps39\">31 December 2024</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11285 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.79pt\"></span></span><span class=\"ps11253\">185<span style=\"display:inline-block;height:6.55pt;width:3.32pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11286 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.79pt\"></span></span><span class=\"ps11253\">409<span style=\"display:inline-block;height:6.55pt;width:3.32pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11287 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-b07b4361 ps11256\">801<span class=\"f ps40\"> </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=\"ps11288 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.86pt\"></span></span><span class=\"ps10614\">1,395</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5875 ss803\"><div><div class=\"ps4607 ss555\"><span class=\"f charStyle-2b5af115 ps39\">Commitment amount in EUR<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11289 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.27pt\"></span></span><span class=\"ps11262\">69</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11290 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10607\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11291 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11244\">105</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11292 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11244\">174</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps4027 ss803\"><div><div class=\"ps4607 ss555\"><span class=\"f charStyle-2b5af115 ps39\">Commitment amount in USD<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11293 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11244\">390</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11294 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11244\">524</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11295 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11244\">426</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11296 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10593\">1,340</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=\"ps11297 ss803\"><div><div class=\"ps11269 ss555\"><span class=\"f charStyle-e5ec5c44 ps39\">Remaining commitment translated to EUR at <span class=\"f ps40\"> </span></span></div><div class=\"ps11270 ss555\"><span class=\"f charStyle-e5ec5c44 ps39\">31 December 2023</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11298 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.79pt\"></span></span><span class=\"ps11253\">421<span style=\"display:inline-block;height:6.55pt;width:3.32pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11299 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.79pt\"></span></span><span class=\"ps11253\">474<span style=\"display:inline-block;height:6.55pt;width:3.32pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11300 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-b07b4361 ps11256\">490<span class=\"f ps40\"> </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=\"ps11301 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.86pt\"></span></span><span class=\"ps10614\">1,385</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps11304 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Maturity of total payments are disclosed in </span><span class=\"f charStyle-c1b8f9f6 ps11303\">Note 23.</span></div><div class=\"ps7006 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">P-Class vessels <span id=\"i39739276062348009b57f75bf4f64d90\"></span></span></div><div class=\"ps11308 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Since 30 June 2021, the Company had a contract with COSCO to build </span><span class=\"f charStyle-c1b8f9f6 ps11306\">two</span><span class=\"f charStyle-c1b8f9f6 ps11307\"> new P-class WTIVs. On 14 August </span></div><div class=\"ps11310 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">2024, Wind Peak was delivered and the final instalments were paid upon delivery. </span><span class=\"f charStyle-c1b8f9f6 ps11309\">On 26 March 2025, Wind </span></div><div class=\"ps11311 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Pace was delivered with the final instalments also paid upon delivery.</span></div><div class=\"ps11312 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">A-class vessels<span id=\"i54bb13ecdc2d4428ae4897f8f64166da\"></span></span></div><div class=\"ps11313 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">On 9 May 2022 and 22 November 2022, the Company entered into contracts with COSCO to build a total of </span></div><div class=\"ps11314 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">two</span><span class=\"f charStyle-c1b8f9f6 ps11229\"> new A-class FIVs. In May 2024, the Company entered into an additional contract with COSCO to build </span></div><div class=\"ps11315 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">the third A-class FIV. On 29 September 2025, Wind Ally was delivered, with the final instalments paid upon </span></div><div class=\"ps11316 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">delivery.</span></div><div class=\"ps11317 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The remaining amounts are due in 2026 and 2027 with expected deliveries in Q3 2026 and Q2 2027, </span></div><div class=\"ps11318 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">respectively.</span></div><div class=\"ps11319 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">M-Class vessels<span id=\"i68e4397ac40244a994a178878999535a\"></span></span></div><div class=\"ps11320 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">As a result of the business combination with Eneti, the Company had a contract with Hanwha for the </span></div><div class=\"ps11323 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">construction of </span><span class=\"f charStyle-c1b8f9f6 ps11321\">two</span><span class=\"f charStyle-c1b8f9f6 ps11322\"> next-generation offshore WTIVs. </span></div><div class=\"ps11325 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">On 31 January 2025, Wind Maker was delivered and the final instalments were paid upon delivery. </span><span class=\"f charStyle-c1b8f9f6 ps11324\">On 28 </span></div><div class=\"ps11326 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">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-600": {
   "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 ps183\">Note 28</span></div><div class=\"ps6919 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Commitments and Pledges<span id=\"i9559c362fa7445d2813ba504bfe1d578\"></span></span></div><div class=\"ps7795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Lease commitments<span id=\"ic1943004030a4b58bd199d4476407e94\"></span></span></div><div class=\"ps7034 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">The future minimum lease payables under non-cancellable low value and short-term leases contracted for </span></div><div class=\"ps7161 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">at the balance sheet date but not recognised as liabilities are as follows:</span></div><div class=\"ps11212 ss0\"><div class=\"ss176 ws0 ps67\"><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=\"ps37 ss801\"><div><div class=\"ps7214 ss669\"><span class=\"f charStyle-64a4cf84 ps39\">EUR'000<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps8886 ss802\"><div><div class=\"ps2573 ss746\"><span class=\"f charStyle-281247bf ps11199\">2025<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7215 ss802\"><div><div class=\"ps2573 ss746\"><span class=\"f charStyle-054ead99 ps11199\">2024<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps10658 ss802\"><div><div class=\"ps2573 ss746\"><span class=\"f charStyle-054ead99 ps11199\">2023<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2576 ss801\"><div><div class=\"ps2573 ss669\"><span class=\"f charStyle-1bac868e ps630\">Not later than one year<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11201 ss802\"><div><div class=\"ps2573 ss746\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:54.77pt\"></span></span><span class=\"ps11200\">16,483</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11202 ss802\"><div><div class=\"ps2573 ss746\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:66.42pt\"></span></span><span class=\"ps7975\">117</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11204 ss802\"><div><div class=\"ps2573 ss746\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:59.62pt\"></span></span><span class=\"ps11203\">1,090</span></span></div></div></div></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps1993 ss801\"><div><div class=\"ps2573 ss669\"><span class=\"f charStyle-1bac868e ps630\">Between one and five years<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11205 ss802\"><div><div class=\"ps2573 ss746\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:66.42pt\"></span></span><span class=\"ps7975\">229</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps7218 ss802\"><div><div class=\"ps2573 ss746\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:66.42pt\"></span></span><span class=\"ps7975\">219</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11206 ss802\"><div><div class=\"ps2573 ss746\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:59.62pt\"></span></span><span class=\"ps11203\">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=\"ps11208 ss802\"><div><div class=\"ps2573 ss746\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:52.69pt\"></span></span><span class=\"ps11207\">16,712</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps7221 ss802\"><div><div class=\"ps2573 ss746\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:65.46pt\"></span></span><span class=\"ps11209\">336</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11211 ss802\"><div><div class=\"ps2573 ss746\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:57.86pt\"></span></span><span class=\"ps11210\">6,074</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps1002 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">As of 31 December 2025, the Company\u2019s lease commitments included the lease of third-party vessels </span></div><div class=\"ps3577 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">related to T&amp;I activities.</span></div><div class=\"ps3579 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">As of 31 December 2023, the Company\u2019s lease commitments included the tenure of the new headquarters. </span></div><div class=\"ps3580 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">These commitments were reflected on the balance sheet starting in Q1 2024 as 'Right-of-Use Assets' and </span></div><div class=\"ps3573 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">'Lease Liabilities' in accordance with IFRS 16. </span></div><div class=\"ps7183 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The Group has issued performance and payment guarantees through its banking partners in favour of </span></div><div class=\"ps7184 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">customers and suppliers in connection with offshore wind installation projects. At 31 December 2025, </span></div><div class=\"ps7186 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">outstanding guarantees totalled EUR </span><span class=\"f charStyle-c1b8f9f6 ps11214\">253</span><span class=\"f charStyle-c1b8f9f6 ps11215\"> million</span><span class=\"f charStyle-c1b8f9f6 ps11216\">. The guarantees relate to the Group\u2019s contractual </span></div><div class=\"ps7187 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">performance and payment obligations. No provision has been recognised, as management assesses that an </span></div><div class=\"ps7188 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">outflow of resources is not probable. The Group would be required to reimburse the issuing bank should </span></div><div class=\"ps7189 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">any guarantee be called.</span></div><div class=\"ps11217 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">Pledge of Fixed Assets<span id=\"i11e388798bec455fa903297668fa64c6\"></span></span></div><div class=\"ps6937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The Green Corporate Facility detailed in </span><span class=\"f charStyle-c1b8f9f6 ps11218\">Note 25</span><span class=\"f charStyle-c1b8f9f6 ps11219\"> is secured by, inter alia, a first priority mortgage over the </span></div><div class=\"ps6940 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Wind Orca, Wind Osprey, Wind Scylla and Wind Zaratan Vessels (</span><span class=\"f charStyle-c1b8f9f6 ps11220\">EUR</span><span class=\"f charStyle-c1b8f9f6 ps11221\"> </span><span class=\"f charStyle-c1b8f9f6 ps11222\">603</span><span class=\"f charStyle-c1b8f9f6 ps11223\"> million</span><span class=\"f charStyle-c1b8f9f6 ps11224\"> carrying amount, see </span><span class=\"f charStyle-c1b8f9f6 ps11225\">Note </span></div><div class=\"ps2794 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">13</span><span class=\"f charStyle-c1b8f9f6 ps11226\">). In addition, the facility is secured by a first priority assignment of the earnings of the vessel-owning </span></div><div class=\"ps2795 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">entities, including certain change of control provisions which are similar to those included in the P-class </span></div><div class=\"ps2796 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Facility.</span></div><div class=\"ps7174 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The P-class Facility, detailed in </span><span class=\"f charStyle-c1b8f9f6 ps11227\">Note 25,</span><span class=\"f charStyle-c1b8f9f6 ps11228\"> is secured by a first priority mortgage over the P-class newbuild </span></div><div class=\"ps7175 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">vessels, first priority assignments of the insurances and earnings of the P-class newbuilds by Cadeler and the </span></div><div class=\"ps7177 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">two</span><span class=\"f charStyle-c1b8f9f6 ps11229\"> borrowers and contain customary financial and other covenants, including certain change of control </span></div><div class=\"ps2800 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">provisions. A change of control under the P-class Facility if any person or group of persons acting in concert </span></div><div class=\"ps2801 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">(other than Swire Pacific and the BW Group) legally and beneficially holds more than </span><span class=\"f charStyle-c1b8f9f6 ps11230\">25%</span><span class=\"f charStyle-c1b8f9f6 ps11231\"> of both the issued </span></div><div class=\"ps2802 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">and outstanding share capital and/or the issued and outstanding voting share capital of Cadeler A/S. In </span></div><div class=\"ps2803 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">addition, certain changes to the ownership structure further down in the Group will also trigger a change of </span></div><div class=\"ps2804 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">control, including, among others, circumstances in which Wind Pace Ltd (formerly referred as to N1064 Ltd) </span></div><div class=\"ps2805 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">or Wind Peak Ltd (formerly referred as to N1063 Ltd) ceases to be a wholly owned (direct or indirect) </span></div><div class=\"ps2806 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">subsidiary of Cadeler.</span></div></div><div class=\"ps7006 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps183\">Contractual amounts, newbuilds vessels:<span id=\"i6dd288598457476eb437b2d3725905c4\"></span></span></div><div class=\"ps11302 ss0\"><div class=\"ss806 ws0 ps67\"><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:23.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps37 ss803\"><div><div class=\"ps11236 ss555\"><span class=\"f charStyle-64a4cf84 ps39\">Millions<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps6787 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-054ead99 ps11237\">P-Class<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11239 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-054ead99 ps11238\">M-Class<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11241 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-054ead99 ps11240\">A-Class<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11243 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-281247bf ps11242\">Total<span class=\"f ps40\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2068 ss803\"><div><div class=\"ps4607 ss555\"><span class=\"f charStyle-1bac868e ps630\">Contract amount in EUR<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11245 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11244\">220</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11246 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10607\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11247 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11244\">299</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11248 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11244\">519</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2069 ss803\"><div><div class=\"ps4607 ss555\"><span class=\"f charStyle-1bac868e ps630\">Contract amount in USD<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11249 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11244\">390</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11250 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11244\">655</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11251 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11244\">794</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11252 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10593\">1,839</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=\"ps9223 ss803\"><div><div class=\"ps4607 ss555\"><span class=\"f charStyle-e5ec5c44 ps39\">Total Contract amount translated to EUR<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11254 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.79pt\"></span></span><span class=\"ps11253\">573<span style=\"display:inline-block;height:6.55pt;width:3.32pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11255 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.79pt\"></span></span><span class=\"ps11253\">600<span style=\"display:inline-block;height:6.55pt;width:3.32pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11257 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-b07b4361 ps11256\">981<span class=\"f ps40\"> </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=\"ps11258 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.86pt\"></span></span><span class=\"ps10614\">2,154</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td colspan=\"2\" style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps2271 ss805\"><div><div class=\"ps10836 ss804\"><span class=\"f charStyle-84544045 ps39\">Remaining commitments, newbuilds vessels:</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:23.25pt\"><td style=\"padding:0\"><div class=\"ps11259 ss803\"><div><div class=\"ps4607 ss555\"><span class=\"f charStyle-1bac868e ps630\">Commitment amount in EUR<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11260 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10607\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11261 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10607\">\u2014</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11263 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.27pt\"></span></span><span class=\"ps11262\">40</span></span></div></div></div></td><td style=\"background-color:#206079;padding:0\"><div class=\"ps11264 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.27pt\"></span></span><span class=\"ps11262\">40</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2095 ss803\"><div><div class=\"ps4607 ss555\"><span class=\"f charStyle-1bac868e ps630\">Commitment amount in USD<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11265 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10607\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11266 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10607\">\u2014</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11267 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11244\">496</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11268 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11244\">496</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=\"ps6305 ss803\"><div><div class=\"ps11269 ss555\"><span class=\"f charStyle-e5ec5c44 ps39\">Remaining commitment translated to EUR at <span class=\"f ps40\"> </span></span></div><div class=\"ps11270 ss555\"><span class=\"f charStyle-e5ec5c44 ps39\">31 December 2025</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11272 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.3pt\"></span></span><span class=\"ps11271\">\u2014<span style=\"display:inline-block;height:6.55pt;width:3.32pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11273 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:44.3pt\"></span></span><span class=\"ps11271\">\u2014<span style=\"display:inline-block;height:6.55pt;width:3.32pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11274 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-b07b4361 ps11256\">462<span class=\"f ps40\"> </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=\"ps10700 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:35.46pt\"></span></span><span class=\"ps11275\">462</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps3979 ss803\"><div><div class=\"ps4607 ss555\"><span class=\"f charStyle-2b5af115 ps39\">Commitment amount in EUR<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11276 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10607\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11277 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10607\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11278 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11244\">105</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11279 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11244\">105</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps2591 ss803\"><div><div class=\"ps4607 ss555\"><span class=\"f charStyle-2b5af115 ps39\">Commitment amount in USD<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11280 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11244\">193</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11281 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11244\">425</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11282 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11244\">724</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11283 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10593\">1,342</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=\"ps11284 ss803\"><div><div class=\"ps11269 ss555\"><span class=\"f charStyle-e5ec5c44 ps39\">Remaining commitment translated to EUR at <span class=\"f ps40\"> </span></span></div><div class=\"ps11270 ss555\"><span class=\"f charStyle-e5ec5c44 ps39\">31 December 2024</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11285 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.79pt\"></span></span><span class=\"ps11253\">185<span style=\"display:inline-block;height:6.55pt;width:3.32pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11286 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.79pt\"></span></span><span class=\"ps11253\">409<span style=\"display:inline-block;height:6.55pt;width:3.32pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11287 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-b07b4361 ps11256\">801<span class=\"f ps40\"> </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=\"ps11288 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.86pt\"></span></span><span class=\"ps10614\">1,395</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps5875 ss803\"><div><div class=\"ps4607 ss555\"><span class=\"f charStyle-2b5af115 ps39\">Commitment amount in EUR<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11289 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.27pt\"></span></span><span class=\"ps11262\">69</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11290 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:41.97pt\"></span></span><span class=\"ps10607\">\u2014</span></span></div></div></div></td><td style=\"border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11291 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11244\">105</span></span></div></div></div></td><td style=\"background-color:#206079;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11292 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11244\">174</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps4027 ss803\"><div><div class=\"ps4607 ss555\"><span class=\"f charStyle-2b5af115 ps39\">Commitment amount in USD<span class=\"f ps40\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11293 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11244\">390</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11294 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11244\">524</span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11295 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-e5ec5c44\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:36.42pt\"></span></span><span class=\"ps11244\">426</span></span></div></div></div></td><td style=\"background-color:#206079;border-bottom:1pt solid #ecedef;padding:0\"><div class=\"ps11296 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-28b4b4c9\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:29.62pt\"></span></span><span class=\"ps10593\">1,340</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=\"ps11297 ss803\"><div><div class=\"ps11269 ss555\"><span class=\"f charStyle-e5ec5c44 ps39\">Remaining commitment translated to EUR at <span class=\"f ps40\"> </span></span></div><div class=\"ps11270 ss555\"><span class=\"f charStyle-e5ec5c44 ps39\">31 December 2023</span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11298 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.79pt\"></span></span><span class=\"ps11253\">421<span style=\"display:inline-block;height:6.55pt;width:3.32pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11299 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-b07b4361\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:37.79pt\"></span></span><span class=\"ps11253\">474<span style=\"display:inline-block;height:6.55pt;width:3.32pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:1pt solid #ecedef;border-top:1pt solid #ecedef;padding:0\"><div class=\"ps11300 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-b07b4361 ps11256\">490<span class=\"f ps40\"> </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=\"ps11301 ss382\"><div><div class=\"ps4607 ss287\"><span class=\"f charStyle-23b55a92\"><span class=\"ps39\"><span style=\"display:inline-block;height:6.55pt;width:27.86pt\"></span></span><span class=\"ps10614\">1,385</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps11304 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Maturity of total payments are disclosed in </span><span class=\"f charStyle-c1b8f9f6 ps11303\">Note 23.</span></div><div class=\"ps7006 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">P-Class vessels <span id=\"i39739276062348009b57f75bf4f64d90\"></span></span></div><div class=\"ps11308 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Since 30 June 2021, the Company had a contract with COSCO to build </span><span class=\"f charStyle-c1b8f9f6 ps11306\">two</span><span class=\"f charStyle-c1b8f9f6 ps11307\"> new P-class WTIVs. On 14 August </span></div><div class=\"ps11310 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">2024, Wind Peak was delivered and the final instalments were paid upon delivery. </span><span class=\"f charStyle-c1b8f9f6 ps11309\">On 26 March 2025, Wind </span></div><div class=\"ps11311 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">Pace was delivered with the final instalments also paid upon delivery.</span></div><div class=\"ps11312 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">A-class vessels<span id=\"i54bb13ecdc2d4428ae4897f8f64166da\"></span></span></div><div class=\"ps11313 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">On 9 May 2022 and 22 November 2022, the Company entered into contracts with COSCO to build a total of </span></div><div class=\"ps11314 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">two</span><span class=\"f charStyle-c1b8f9f6 ps11229\"> new A-class FIVs. In May 2024, the Company entered into an additional contract with COSCO to build </span></div><div class=\"ps11315 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">the third A-class FIV. On 29 September 2025, Wind Ally was delivered, with the final instalments paid upon </span></div><div class=\"ps11316 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">delivery.</span></div><div class=\"ps11317 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">The remaining amounts are due in 2026 and 2027 with expected deliveries in Q3 2026 and Q2 2027, </span></div><div class=\"ps11318 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">respectively.</span></div><div class=\"ps11319 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-84544045 ps1006\">M-Class vessels<span id=\"i68e4397ac40244a994a178878999535a\"></span></span></div><div class=\"ps11320 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">As a result of the business combination with Eneti, the Company had a contract with Hanwha for the </span></div><div class=\"ps11323 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">construction of </span><span class=\"f charStyle-c1b8f9f6 ps11321\">two</span><span class=\"f charStyle-c1b8f9f6 ps11322\"> next-generation offshore WTIVs. </span></div><div class=\"ps11325 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">On 31 January 2025, Wind Maker was delivered and the final instalments were paid upon delivery. </span><span class=\"f charStyle-c1b8f9f6 ps11324\">On 28 </span></div><div class=\"ps11326 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps1006\">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-602": {
   "value": "<div class=\"ps0 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 30</span></div><div class=\"ps6919 ss0\" style=\"font-size:16pt\"><span class=\"f charStyle-940783b5 ps183\">Events After Reporting <span id=\"ie55eb42c377940838a3071b75d6a1771\"></span></span><span class=\"f charStyle-940783b5 ps11377\">P</span><span class=\"f charStyle-940783b5 ps11378\">eriod</span></div><div class=\"ps6920 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Management has evaluated events and transactions occurring after </span></div><div class=\"ps11327 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">the balance sheet date through the date the financial statements </span></div><div class=\"ps11379 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">were available to be issued. Based on this evaluation, there were no </span></div><div class=\"ps3335 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">subsequent events identified that require adjustment to or disclosure </span></div><div class=\"ps3336 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">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-603": {
   "value": "<div class=\"ps7966 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">Note 31</span></div><div class=\"ps11380 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Authorisation of Financial <span id=\"iff3ad010ac4f419c87c1169939df0bbf\"></span></span></div><div class=\"ps11381 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-940783b5 ps183\">Statements</span></div><div class=\"ps3315 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">These financial statements were authorised for issue by a resolution </span></div><div class=\"ps3316 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">of the Board of Directors and Executive Management of Cadeler A/S </span></div><div class=\"ps3317 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">on 24 March </span><span class=\"f charStyle-c1b8f9f6 ps11382\">2026</span><span class=\"f charStyle-c1b8f9f6 ps11383\"> and will be submitted for approval to the </span></div><div class=\"ps3318 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">shareholders of the Company at the annual general meeting to be </span></div><div class=\"ps6999 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-c1b8f9f6 ps183\">held on </span><span class=\"f charStyle-c1b8f9f6 ps11384\">21 April </span><span class=\"f charStyle-c1b8f9f6 ps11385\">2026</span><span class=\"f charStyle-c1b8f9f6 ps11386\">.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory",
    "language": "en",
    "entity": "scheme:9845008439EUED140282",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  }
 }
}