XML 33 R19.htm IDEA: XBRL DOCUMENT v3.23.1
Non-Underlying Items
 12 Months Ended
Dec. 31, 2022
Disclosure of Non Underlying Items [Abstract]  
Non-underlying items
1
1
.
Non-underlying
items
The
non-underlying
items included in the consolidated income statement are as follows:

 
  
For the years ended December 31,
 
(Euro thousands)
  
2022
 
  
2021
 
  
2020
 
Cost related to the Reverse Recapitalization
      (84,193 )       —          —    
Net gain on disposals
      964        24,014        40,307  
Government grants
      172        6,177        3,724  
Negative goodwill from acquisition of a subsidiary
      —        7,896        —    
Gain on debt restructuring
      —        7,380        —    
Other
      —        (261 )       (485 ) 
    
 
 
     
 
 
     
 
 
  
Total
non-underlying
items
     
(83,057
) 
   
 
45,206
 
   
 
43,546
 
    
 
 
     
 
 
     
 
 
  
Costs related to the Reverse Recapitalization include (i) the
excess of the fair value of LGHL ordinary shares issued as part of the Reverse Recapitalization and the fair value of PCAC’s identifiable net assets acquired, accounted for in accordance with IFRS 2 and measured based on the closing price of PCAC’s shares of USD
9.90
 per share on December 14, 2022, and (ii) bank services, legal advisors and other consultancy services relating to the Reverse Recapitalization. For additional information related to the Reverse Recapitalization please refer to Note
6
. 
Non-underlying
items included the net gains on disposals primarily related to disposal of long-term assets.
Non-underlying
items for the year ended December 31, 2021 included negative goodwill resulted from business combination of Sergio Rossi. Refer to Note
7
 for further information.
Gain on debt restructuring was included in
non-underlying
items. Refer to Note 2
5
 for further information.
Non-underlying
items for the year ended December 31, 2021 and 2020 included government grants primarily related to various grants and incentives given by local governments, based on the Group’s operations and developments in those regions.