Provisions

12 Months Ended

Dec. 31, 2022

. Provisions

The Provisions, which amount to Euro7,125 thousand in

2022 (2021: Euro

7,307

thousand) represent management’s best estimate of the potential liabilities. In managements’ opinion, based on the information available to them, the total amount allocated for risks and charges at the reporting date is adequate in respect of the liabilities that could arise from the underlying circumstances.

The following tables show the movement of the provisions in 2022 and 2021:


(Euro thousands)	Provisions for litigation			Provisions for contingencies and losses			Other provisions			Total provisions

At January 1, 2021		798			3,676			1,302			5,776
Of which current		—			1,914			576			2,490
Of which non-current		798			1,762			726			3,286
Provisions		1,036			536			133			1,705
Business combination		—			942			—			942
Releases		(39	)		(32	)		(285	)		(356	)
Utilizations		(21	)		(956	)		—			(977	)
Exchange differences		—			217			—			217

At December 31, 2021		1,774			4,383			1,150			7,307
Of which current		—			2,476			665			3,141
Of which non-current		1,774			1,907			485			4,166
Provisions		991			1,060			364			2,415
Releases		(627	)		(786	)		(19	)		(1,432	)
Utilizations		—			(869	)		(457	)		(1,326	)
Exchange differences		—			185			(24	)		161

At December 31, 2022		2,138			3,973			1,014			7,125

Of which current		12			2,470			532			3,014
Of which non-current		2,126			1,503			482			4,111

The

provision for litigation includes provisions for various litigated matters that have occurred in the ordinary course of business.

The Group is a defendant in various other legal and fiscal lawsuits arising in the ordinary course of business. It is the opinion of the management of the Company that it has meritorious defenses against all such outstanding claims, which the Company will vigorously pursue, and that the outcome of such claims, individually or in the aggregate, will not have a material adverse effect on the Group’s consolidated financial position or results of operations.