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Consolidated Statements of Cash Flows - EUR (€)
€ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities      
Profit / (Loss) for the year € 113,545 € (8,606) € 182,269
Add back:      
Income tax expense 75,253 25,386 34,240
Depreciation and amortization expense 77,709 82,189 66,729
Change in fair value of option 12,976 28,642 (6,292)
RSU expense 10,337 16,836 24,261
Net foreign currency losses 7,686 10,670 2,910
Bad debt 6,453 12,398 8,618
Increase / (decrease) in provisions 38,285 1,081 (3,935)
Impairment of goodwill 7,034 35,949 0
Impairment of assets 29,929 344 0
Gain on disposal of business (40,135) 0 0
Change in fair value of earnout liability 0 0 (237,354)
Change in fair value of warrant liability 0 0 (34,518)
Foreign exchange on revaluation of warrants and earnout liabilities 0 0 25,047
Share listing expense 0 0 126,252
Other non-cash adjustments [1] 2,175 (973) (1,324)
Changes in working capital:      
Decrease / (increase) in trade and other receivables 13,746 (39,024) 47,050
Increase / (decrease) in trade and other payables 890 8,527 (27,742)
(Decrease) / increase in customer liabilities (16,484) 14,769 (4,170)
Decrease / (increase) in restricted cash 25,966 (12,030) (7,084)
Cash from operating activities 365,365 176,158 194,957
Withholding taxes paid on subsidiaries dividends (6,194) (223) (5,611)
Corporation tax rebates/refunds received 10,411 30,868 1,846
Corporation tax paid (85,999) (73,954) (24,356)
Net cash flows from operating activities 283,583 132,849 166,836
Cash flows from investing activities      
Cash received in interest 9,630 5,154 1,700
Acquisition of intangible assets (78,397) (44,446) (21,229)
Acquisition of property, plant and equipment (12,167) (9,106) (6,311)
Initial direct costs on acquisition of right-of-use assets (1,180) 0 0
Cash received from loans receivable 1,758 4,814 8,528
Cash extended for financial assets (29,841) (71,055) (24,332)
Cash received for sale of DGC B2B 9,181 0 0
Cash paid for investment in entities (5,687) 0 0
Cash received from financial assets 917 0 0
Acquisition of businesses, net of cash acquired 0 (10,269) 7,282
Extension of restricted cash guarantee 0 (18,604) (79,293)
Release of restricted cash guarantee 0 138,499 0
Settled derivative contracts 0 0 17,132
Net cash flows used in investing activities (105,786) (5,013) (96,523)
Cash flows from financing activities      
Repayment of lease liabilities - interest (2,559) (1,844) (1,196)
Repayment of lease liabilities - principal (5,401) (5,811) (7,026)
Proceeds from interest-bearing loans and borrowings 0 18,594 0
Repayment of interest-bearing loans and borrowings (27) (139,436) (26,679)
Cash paid for deferred consideration 0 0 (13,200)
Dividends paid to non-controlling interests (42) (35) (1,388)
Dividends paid to parent equity holders (46,120) 0 0
Shares repurchased 0 (2,632) (224,322)
Proceeds from shares issued net of transaction costs 0 0 170,632
Net cash flows used in financing activities (54,149) (131,164) (103,179)
Increase / (decrease) in cash and cash equivalents 123,648 (3,328) (32,866)
Cash and cash equivalents at beginning of the year 241,923 [2] 254,778 [2] 293,798
Effects of exchange rate fluctuations on cash held 7,311 (9,527) (6,154)
Cash and cash equivalents at end of the year [2] € 372,882 € 241,923 € 254,778
[1] Amounts related to the comparative periods are composed by certain line items that have been grouped together and presented within other non-cash adjustments.
[2] Cash and cash equivalents at the year end includes unrestricted cash held for corporate purposes of €355.8 million and monies held for regulatory purposes of €17.1 million.