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Inventories
 12 Months Ended
Dec. 31, 2023
Classes of current inventories [abstract]  
Inventories

14. INVENTORIES

Details of inventories at December 31, 2023 and 2022 are as follows:

 

(In thousand Euros)

 

December 31, 2023

 

 

December 31, 2022

 

Raw materials

 

 

41,066

 

 

 

47,668

 

Semi-finished goods

 

 

31,623

 

 

 

31,195

 

Finished goods

 

 

19,789

 

 

 

27,706

 

Total

 

 

92,478

 

 

 

106,569

 

 

The Group has insurance policies in place to cover all inventories, with specific global insurances coverage for each of the Group’s warehouses.

There were no commitments for the acquisition of inventories at the end of 2023 and 2022. Advance payments for the acquisition of inventories at December 31, 2023 were Euros 4,357 thousand (Euros 3,031 thousand at December 31, 2022).

Based on current information, the group has booked an inventory provision of Euros 2,885 thousand at December 31, 2023 to cover the impact of slow-moving and obsolete inventories (Euros 1,886 thousand at December 31, 2022). (See Note 20).