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Financial Risk Management (Tables) | 12 Months Ended
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Dec. 31, 2023
Disclosure of Financial Risk Management [Abstract] |
Summary of Credit Risk | The maximum credit risk exposure is as follows:
|  | December 31, 2023 |  |  | December 31, 2022 |
(In thousand Euros) |  | Non-current |  |  | Current |  |  | Non-current |  |  | Current |
Customer sales and services |  |  | — |  |  |  | 43,258 |  |  |  | — |  |  |  | 39,797 |
Other receivables |  |  | — |  |  |  | 140 |  |  |  | — |  |  |  | 16 |
Loans to employees |  |  | 180 |  |  |  | 18 |  |  |  | — |  |  |  | 14 |
Trade and other financial receivables |  |  | 180 |  |  |  | 43,416 |  |  |  | — |  |  |  | 39,827 |
Loans granted to Joint Venture |  |  |  |  |  |  |  |  |  |  |  |
Guarantee deposit |  |  | 1,341 |  |  |  | — |  |  |  | 1,133 |  |  |  | — |
Non-current financial assets |  |  | 1,521 |  |  |  | — |  |  |  | 1,133 |  |  |  | — |
Guarantee deposit |  |  |  |  |  | 82 |  |  |  |  |  |  | 560 |
Financial investments |  |  | — |  |  |  | 5,728 |  |  |  | — |  |  |  | 5,397 |
Other current financial assets |  |  | — |  |  |  | 5,810 |  |  |  | — |  |  |  | 5,957 |
Total |  |  | 1,521 |  |  |  | 49,226 |  |  |  | 1,133 |  |  |  | 45,784 |
Summary of Interest Rate Risk | Interest rate risk arises from possible losses due to changes in the fair value or the future cash flows of a financial instrument because of fluctuations in market interest rates.
(In thousand Euros) |  | Currency |  | December 31, 2023 |  |  | December 31, 2022 |
Fixed rate Loan |  | EUR |  |  | 27,926 |  |  |  | 32,125 |
Floating rate loan |  | EUR |  |  | 179,431 |  |  |  | 101,502 |
Total |  |  |  |  | 207,357 |  |  |  | 133,627 |
This analysis assumes that all other variables are held constant and considers the effect of interest rates.
|  | 2023 |  |  | 2022 |  |  | 2021 |
(In thousand Euros) |  | Profit or loss |  |  | Profit or loss |  |  | Profit or loss |
|  | 100 bp increase |  |  | 100 bp decrease |  |  | 100 bp increase |  |  | 100 bp decrease |  |  | 100 bp increase |  |  | 100 bp decrease |
Floating rate loan |  |  | (1,951 | ) |  |  | 1,951 |  |  |  | (1,317 | ) |  |  | 1,317 |  |  |  | (691 | ) |  |  | 691 |
Summary of Sensitivity of a Reasonably Possible Strengthening (Weakening) | The following table shows the sensitivity of monetary assets and liabilities to a reasonably possible strengthening (weakening) of the Euro in each of the foreign currencies as of December 31. This analysis assumes that all other variables, particularly interest rates, remain constant and ignores any impact from anticipated sales and purchases. The Group’s exposure to foreign currency exchange for all other currencies is not significant.
|  | 2023 |  |  | 2022 |  |  | 2021 |
|  | Profit or loss |  |  | Profit or loss |  |  | Profit or loss |
(In thousand Euros) |  | Strengthening |  |  | Weakening |  |  | Strengthening |  |  | Weakening |  |  | Strengthening |  |  | Weakening |
USD (10% movement) |  |  | (1,270 | ) |  |  | 1,552 |  |  |  | (565 | ) |  |  | 691 |  |  |  | (8,819 | ) |  |  | 10,779 |
Summary of Liquidity Risk | Details of working capital are as follows:
(In thousand Euros) |  | December 31, 2023 |  |  | December 31, 2022 |
Current assets |  |  | 256,924 |  |  |  | 255,171 |
Current liabilities |  |  | 190,774 |  |  |  | 178,793 |
Total |  |  | 66,150 |  |  |  | 76,378 |
Summary of Maturity Analysis for Derivative Financial Liabilities | Details of the maturities, by year, of the principal of the loans and borrowings at December 31, are as follows:
|  | December 31, 2023 |
(In Euros) |  | Capital |  |  | Interest |  |  | Total |
2024 |  |  | 126,496 |  |  |  | 9,682 |  |  |  | 136,179 |
2025 |  |  | 25,533 |  |  |  | 5,784 |  |  |  | 31,317 |
2026 |  |  | 22,859 |  |  |  | 3,520 |  |  |  | 26,379 |
2027 |  |  | 15,831 |  |  |  | 1,868 |  |  |  | 17,699 |
2028 |  |  | 12,017 |  |  |  | 815 |  |  |  | 12,831 |
More than five years |  |  | 4,621 |  |  |  | 163 |  |  |  | 4,784 |
Total |  |  | 207,357 |  |  |  | 21,832 |  |  |  | 229,189 |
|  | December 31, 2022 |
(In Euros) |  | Capital |  |  | Interest |  |  | Total |
2023 |  |  | 89,268 |  |  |  | 3,428 |  |  |  | 92,696 |
2024 |  |  | 12,063 |  |  |  | 2,785 |  |  |  | 14,848 |
2025 |  |  | 10,688 |  |  |  | 2,014 |  |  |  | 12,702 |
2026 |  |  | 8,024 |  |  |  | 1,398 |  |  |  | 9,422 |
2027 |  |  | 6,907 |  |  |  | 838 |  |  |  | 7,745 |
More than five years |  |  | 6,677 |  |  |  | 759 |  |  |  | 7,436 |
Total |  |  | 133,627 |  |  |  | 11,222 |  |  |  | 144,849 |

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- Definition The disclosure of the credit risk exposure. Credit risk exposure is the credit risk inherent in an entity’s financial assets and commitments to extend credit. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2023-01-01 -Paragraph 35M -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2023-en-r&anchor=para_35M&doctype=Standard -URIDate 2023-03-23 + Details
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- Definition The disclosure of financial instruments by type of interest rate. [Refer: Financial instruments, class [member]] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IFRS -Number 7 -IssueDate 2023-01-01 -Paragraph 39 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2023-en-r&anchor=para_39&doctype=Standard -URIDate 2023-03-23 + Details
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- Definition The disclosure of liquidity risk. [Refer: Liquidity risk [member]] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_10_e&doctype=Standard -URIDate 2023-03-23 + Details
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- Definition The disclosure of information that enables users of financial statements to evaluate the nature and extent of risks arising from financial instruments to which the entity is exposed. [Refer: Financial instruments, class [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2023-01-01 -Paragraph 31 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2023-en-r&anchor=para_31&doctype=Standard -URIDate 2023-03-23 + Details
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- Definition The disclosure of a maturity analysis for derivative financial liabilities, including the remaining contractual maturities for those derivative financial liabilities for which contractual maturities are essential for an understanding of the timing of the cash flows. [Refer: Derivative financial liabilities] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2023-01-01 -Paragraph 39 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2023-en-r&anchor=para_39_b&doctype=Standard -URIDate 2023-03-23 + Details
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