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Derivative financial instruments (Tables)
 12 Months Ended
Dec. 31, 2025
Derivative Financial Instruments [Abstract]  
Schedule of Outstanding Derivative Instruments
The Group’s outstanding derivative instruments are presented below.
At December 31, 2025At December 31, 2024
(€ thousands)Notional AmountPositive Fair Value Negative Fair Value Notional AmountPositive Fair Value Negative Fair Value
Foreign currency exchange risk
Foreign currency derivatives835,8126,993(4,315)756,3161,596(14,699)
Interest rate risk
Interest rate swaps81,29562(261)82,631115(439)
Total derivatives instruments - Notional / Assets / (Liabilities)917,1077,055(4,576)838,9471,711(15,138)
Schedule of Notional Amount of Foreign Exchange The notional amount of foreign exchange forward contracts to hedge projected future cash flows is presented below.
For the years ended December 31,
(€ thousands)20252024
USD314,100278,068
CHF402—
CNY263,735255,447
GBP48,04853,991
JPY55,05742,435
HKD29,87734,825
Other124,59391,550
Total notional amount835,812756,316
Schedule of Interest Rate Swap (IRS) Agreements
The key features of the interest rate swap (IRS) agreements are presented below.
(€ thousands, except percentages)Notional amount at December 31,Fair value at December 31,
ContractMaturity dateFixed interest rate2025202420252024
IRS 16/30/20272.10%50,00050,0003849
IRS 26/14/20272.77%30,00030,000(261)(439)
IRS 39/30/20270.22%1,2952,0352457
IRS 412/31/2025(0.15%)—596—9
Total81,29582,631(199)(324)