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Borrowings (Tables)

9 Months Ended

Sep. 30, 2025

Borrowings [abstract]

Schedule of Detailed Information about Borrowings


			September 30, 2025						December 31, 2024
			(unaudited)
Non-current
Senior Notes (*)			760,136						414,638
Bank borrowings (*)			294,056						265,367

			1,054,192						680,005
Current
Senior Notes (*)			6,751						6,858

Bank borrowings (*)			176,028						92,693

			182,779						99,551
Total borrowings			1,236,971						779,556

(*) As of September 30, 2025, the Group was in compliance with the related financial covenants under the respective loan agreements.

The maturity of the Group’s borrowings and the Group’s exposure to fixed and variable interest rates is as follows:


			September 30, 2025						December 31, 2024
			(unaudited)
Fixed rate:
Less than 1 year			151,252						69,178
Between 1 and 2 years			287,574						55,952
Between 2 and 3 years			6,814						414,994
Between 3 and 4 years			991						356
Between 4 and 5 years			1,435						356
More than 5 years			547,230						35,936
			995,296						576,772
Variable rate:
Less than 1 year			31,527						30,373
Between 1 and 2 years			121,113						83,142
Between 2 and 3 years			51,525						46,593
Between 3 and 4 years			—						2,932
Between 4 and 5 years			—						441
More than 5 years			37,510						39,303
			241,675						202,784
			1,236,971						779,556