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Financial risk management objectives and policies (Tables)

12 Months Ended

Dec. 31, 2024

Financial Risk Management [Abstract]

Maturity Profile and Exposure of Non-Current Borrowings

The maturity profile of the Company’s non-current borrowings, including lease liabilities, is presented below:

			2024						2023
Loans from related parties
Between 1 and 2 years			$	13,298					$	—
Between 2 and 3 years			189,683						40,333
Between 3 and 4 years			—						35,929
Between 4 and 5 years			155,241						—
Over 5 years			—						—
Total loans from related parties			$	358,222					$	76,262
Lease liabilities
Between 1 and 2 years			$	7,950					$	8,777
Between 2 and 3 years			6,936						8,576
Between 3 and 4 years			5,524						5,406
Between 4 and 5 years			6,338						3,986
Over 5 years			29,219						26,999
Total lease liabilities			$	55,967					$	53,744
Total non-current borrowings			$	414,189					$	130,006

The table below summarizes the maturity profile of financial liabilities at December 31, 2024 based on contractual undiscounted payments.

			Less than 6 months						6 to 12 months						1 to 5 years						>5 years						Total
Loans from related parties			$	11,446					$	7,135					$	397,591					$	—					$	416,172
Loans from third parties			25,143						—						—						—						25,143
Lease liabilities			6,974						6,974						37,286						37,440						88,674
Derivative financial instruments			2,210						3,436						26,261						—						31,907
Other non-current liabilities			—						—						—						—						—
Trade and other payables			148,558						—						—						—						148,558
			$	194,331					$	17,545					$	461,138					$	37,440					$	710,454

The table below summarizes the maturity profile of financial liabilities at December 31, 2023 based on contractual undiscounted payments.

25. Financial risk management objectives and policies (continued)

			Less than 6 months						6 to 12 months						1 to 5 years						>5 years						Total
Loans from related parties			$	4,676					$	269,876					$	80,457					$	—					$	355,009
Loans from third parties			—						—						—						—						—
Lease liabilities			6,053						6,053						34,403						26,824						73,333
Derivative financial instruments			2,706						16,621						—						—						19,327
Other non-current liabilities			—						—						114						—						114
Trade and other payables			162,696						—						—						—						162,696
			$	176,131					$	292,550					$	114,974					$	26,824					$	610,479

Disclosure of Sensitivity Analysis

The following table demonstrates the sensitivity of the Company’s profit before income tax to reasonable changes in foreign exchange rates (after taking into consideration the impact of outstanding economic hedges in place for Euro denominated borrowings and other obligations), with all other variables held constant:

Year Ended			Decrease in USD:Euro FX Rate			Effect on profit before tax (-/+)			Increase in USD:Euro FX Rate			Effect on profit before tax (+/-)
12/31/24			5.0		%	$	—		-5.0		%	$	—
12/31/23			5.0		%	$	—		-5.0		%	$	—
12/31/22			5.0		%	$	—		-5.0		%	$	—

The following table demonstrates the sensitivity of the Company’s profit before income tax (considering the impact of the outstanding floating rate borrowings at the end of the period) to reasonable changes in interest rates, with all other variables held constant:

25. Financial risk management objectives and policies (continued)

Year Ended			Interest Rate Increase			Effect on profit before tax (-/+)			Interest Rate Decrease			Effect on profit before tax (+/-)
12/31/24			1.0		%	$	133		(1.0)%			$	(133)
12/31/23			1.0		%	$	403		(1.0)%			$	(403)
12/31/22			1.0		%	$	700		(1.0)%			$	(700)

The following table demonstrates the sensitivity of the Company’s OCI (considering the impact of the outstanding contracts at the end of the period) to reasonable changes in natural gas pricing, with all other variables held constant:

Year Ended			Decrease in NG contract price			Effect on OCI before tax (-/+)			Increase in NG contract price			Effect on OCI before tax (+/-)
12/31/24			$	1.00		$	—		$	1.00		$	—
12/31/23			$	1.00		$	390		$	1.00		$	(390)
12/31/22			$	1.00		$	2,940		$	1.00		$	(2,940)

Disclosure of Financial Assets

As of December 31, 2024 and 2023, the Company’s financial assets were classified as follows:

						2024												2023
						Assets at amortized cost						Assets at FVPL *						Assets at amortized cost						Assets at FVPL *
Financial Assets
Trade receivables, net						$	48,119					$	—					$	55,873					$	—
Other receivables, net						57,937						—						65,121						—
Non-current assets						—						10,076						—						5,547
Derivative financial instruments						—						709						—						7,386
Derivative credit support payments						4,389						—						11,470						—
Cash and cash equivalents						12,124						—						22,036						—
						$	122,569					$	10,785					$	154,500					$	12,933

Disclosure of Financial Liabilities

At December 31, 2024 and 2023, the Company’s financial liabilities were classified as follows:

			2024												2023
			Liabilities at amortized cost						Liabilities at FVPL *									Liabilities at amortized cost						Liabilities at FVPL *
Financial Liabilities
Accounts payable			$	139,831					$	—								$	151,229					$	—
Related party payables			8,727						—									11,467						—
Borrowings			391,830						—									343,932						—
Derivative financial instruments-economic hedges			—						9,432									—						10,512
Derivative credit support receipts			304						—									7,142						—
Other noncurrent liabilities			330						—									114						—
			$	541,022					$	9,432								$	513,884					$	10,512

                                                                                              

*    “FVPL” Fair value through profit or loss

**     “FVOCI” Fair value through comprehensive income

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