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Loans and borrowings (Tables)

12 Months Ended

Dec. 31, 2023

Loans and borrowings

Summary of loans and borrowings


Loans and borrowings		As of December 31,
in €‘000		2023		2022
Current portion of loans and borrowings
Bank loans and overdrafts		49		59
Lease liabilities (Note 15)		9,537		7,302
		9,586		7,361
Non - current portion of loans and borrowings
Bank loans		145		772
Lease liabilities (Note 15)		40,414		14,712
		40,559		15,484
Total		50,145		22,845

Summary of senior secured net leverage ratio on excess cash flow


		Excess Cash Flow prepayment
Senior Secured Net Leverage Ratio		percentage
Greater than 5.00:1		50	%
Equal to or less than 5.00:1 but greater than 4.50:1		25	%
Equal to or less than 4.50:1		0	%

Summary of bank loans and bank overdrafts


Financial debt movements and change in bank overdrafts		Loans		Loans
in €‘000		non-current		current		Overdrafts		Total
Balance as of January 1, 2022		411,379		—		73		411,452
Addition		219		6		—		225
Transaction costs related to borrowing costs		(1,100)		—		—		(1,100)
Payment of loans and borrowings		(420,682)		(3)		(23)		(420,708)
Amortization of borrowing costs		8,057		—		—		8,057
Reclassification of borrowing costs		2,846		—		—		2,846
Foreign currency rate adjustment		53		—		6		59
Balance as of December 31, 2022		772		3		56		831
Payment of loans and borrowings		(620)		—		(7)		(627)
Addition		—		2		—		2
Foreign currency rate adjustment		(7)		—		(5)		(12)
Balance as of December 31, 2023		145		5		44		194

Senior Facilities Agreement | Senior Secured Term Loan Facility

Loans and borrowings

Summary of senior secured net leverage ratio


Senior Secured Net Leverage Ratio		Facility B Margin (% per annum)
Greater than 4.50:1.00		4.25
Greater than 4.00:1.00 but equal to or less than 4.50:1.00		4.00
Greater than 3.50:1.00 but equal to or less than 4.00:1.00		3.75
Equal to or less than 3.50:1.00		3.50

Senior Facilities Agreement | Multicurrency Revolving Credit Facility

Loans and borrowings

Summary of senior secured net leverage ratio


Senior Secured Net Leverage Ratio		RCF Margin (% per annum)
Greater than 4.50:1.00		3.75
Greater than 4.00:1.00 but equal to or less than 4.50:1.00		3.50
Greater than 3.50:1.00 but equal to or less than 4.00:1.00		3.25
Greater than 3.00:1.00 but equal to or less than 3.50:1.00		3.00
Equal to or less than 3.00:1.00		2.75