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Employee benefits (Tables)

12 Months Ended

Dec. 31, 2025

Employee Benefits [Abstract]

Summary of Breakdown of Employee Benefits

The following table presents a breakdown of employee benefits.

			At December 31,
(€ thousands)			2025						2024
Italian leaving indemnities (TFR)			9,563						10,224
Other leaving indemnities			11,660						11,727
Post-employment benefits			7,046						7,866
Other long-term employee benefits			937						953
Termination benefits			894						783
Total defined benefit obligations			30,100						31,553
Other long-term payables to employees			—						3,392
Total employee benefits			30,100						34,945

Summary of Changes in Defined Benefit Obligations

The following table presents the changes in defined benefit obligations.

(€ thousands)			2025						2024
At January 1,			31,553						29,645
Changes through statement of profit and loss			5,109						6,631
- of which: Service cost			4,241						5,518
-of which: Financial charges			868						1,113
Changes through statement of comprehensive income and loss			(1,237)						(400)
- of which: Actuarial loss/(gain)			41						(668)
- of which: Translation differences			(1,278)						268
Benefits paid			(5,325)						(5,254)
Business Combination			—						931
At December 31,			30,100						31,553

Summary of Main Financial Assumptions Used in Determining the Prevent Value of the TFR and Other Leaving Indemnities

The following table summarizes the main financial assumptions used in determining the present value of the TFR and other leaving indemnities.

At December 31, 2025

At December 31, 2024

Italy

Spain

China

Italy

Spain

China

Discount rate

2.90% / 3.60%

3.20% / 3.40%

1.80% / 1.90%

2.70% / 3.20%

3.00% / 3.20%

2.00% / 2.10%

Inflation rate

1.70% / 2.00%

2.00%

1.50% / 6.50%

1.80% / 2.00%

2.00%

1.50% / 9.00%

Turn-over rate

1.00% / 10.00%

4.50% / 5.00%

2.00% / 7.00%

1.00% / 10.00%

4.00% / 5.00%

2.00% / 4.50%

Summary of Main Assumptions for Quantitative Sensitivity Analysis

The following table presents a quantitative sensitivity analysis for the main assumptions relating to the Group’s main employee benefit obligations and service costs.

			At December 31, 2025																								At December 31, 2024
			+50 bps						-50 bps						+50 bps						-50 bps						+50 bps						-50 bps						+50 bps						-50 bps
(€ thousands)			Employee benefit obligations												Service costs												Employee benefit obligations												Service costs
Discount rate			(757)						807						(117)						125						(855)						916						(141)						153
Inflation rate			687						(652)						115						(108)						805						(762)						147						(137)
Turn-over rate			2,314						(4,037)						345						(655)						2,684						(4,075)						469						(735)

X

- Definition

The disclosure of defined benefit plans. [Refer: Defined benefit plans [domain]]

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The disclosure of a net defined benefit liability (asset). [Refer: Net defined benefit liability (asset)]

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The disclosure of a sensitivity analysis for significant actuarial assumptions used to determine the present value of a defined benefit obligation. [Refer: Actuarial assumptions [domain]; Defined benefit obligation, at present value]

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