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Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases

Summary of detailed information about lease amounts recognized In statements of cash flows


		As of December 31,
in €‘000		2023		2022
Right-of-use assets – Property and equipment
Buildings		51,394		20,409
Other facilities and equipment		318		259
Lease liabilities – Loans and borrowings
Current		9,537		7,302
Non-current		40,414		14,712

Summary of detailed information about reconciliation of right of use assets


		Office buildings
in €‘000		2023		2022
Balance as of January 1,		20,409		22,905
Depreciation charge for the year		(7,181)		(5,913)
Additions		39,727		3,113
Derecognition due to lease termination		(1,311)		(19)
Foreign currency effects		(250)		323
Balance as of December 31,		51,394		20,409

Summary of detailed information about reconciliation of lease liabilities


in €‘000		2023		2022
Balance as of January 1,		22,014		23,898
Additions to lease liabilities		38,209		2,609
Accretion of interest		1,149		661
Interest paid		(1,149)		(661)
Payments		(7,983)		(5,958)
Additions from business combinations		—		867
Rent concessions		(30)		(38)
Derecognition due to lease termination		(1,323)		(16)
Foreign currency effects		(936)		652
Balance as of December 31,		49,951		22,014
Current		9,537		7,302
Non-current		40,414		14,712

Summary of detailed information about lease amounts recognized in profit or loss


		Years Ended December 31,
in €‘000		2023		2022		2021
Interest on lease liabilities		1,149		661		324
Depreciation		7,181		5,913		5,569
Income from sub-leasing right-of-use assets		(14)		—		(33)
Expenses relating to short-term leases¹		938		682		547
Expenses relating to low-value assets¹		3		—		8
Rent concessions		(30)		(38)		(59)
Total amount recognized in profit from continuing operations		9,227		7,218		6,356

¹	The Company has elected not to recognize a lease liability for short term leases (leases with an expected term of 12 months or less) or for leases of low value assets. Payments made under such leases are expensed on a straight-line basis.

Summary of detailed information about lease amounts recognized in statements of cash flows


		Years Ended December 31,
in €‘000		2023		2022		2021
Operating activities - cash outflow for leases
-Short-term and low-value lease payments		938		682		555
-Interest paid on lease liabilities		1,149		661		324
Financing activities – Principal payment on lease liabilities		7,983		5,958		7,118
Total cash outflow for leases		10,070		7,301		7,997