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Note 23 - Other liabilities (Tables) | 12 Months Ended
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Dec. 31, 2024
Note 23 - Other liabilities |
Disclosure of other non-current liabilities [text block] |
| Year ended December 31, |
| 2024 |  |  | 2023 |
Post-employment benefits | 131,564 |  |  | 117,506 |
Other long-term benefits | 101,260 |  |  | 91,435 |
Miscellaneous | 68,927 |  |  | 62,327 |
| 301,751 |  |  | 271,268 |
Disclosure of net defined benefit liability (asset) [text block] |
| Year ended December 31, |
| 2024 |  |  | 2023 |
Unfunded | 129,032 |  |  | 112,532 |
Funded | 2,532 |  |  | 4,974 |
| 131,564 |  |  | 117,506 |
| Year ended December 31, |
| 2024 |  |  | 2023 |
Values at the beginning of the year | 112,532 |  |  | 103,822 |
Current service cost | 7,206 |  |  | 6,537 |
Interest cost | 14,692 |  |  | 11,707 |
Curtailments and settlements | (131 | ) |  | (675 | )
Remeasurements (*) | 7,506 |  |  | 8,899 |
Translation differences | (6,865 | ) |  | (12,687 | )
Increase due to business combinations (**) | - |  |  | 4,531 |
Benefits paid from the plan | (8,345 | ) |  | (8,762 | )
Other | 2,437 |  |  | (840 | )
At the end of the year | 129,032 |  |  | 112,532 |
(*) For the year 20 2 4 a loss of $1.6 million is attributable to demographic assumption s and a loss of $5.9 million to financ ial assumptions. For the year 202 3 a loss of $0.6 million is attributable to demographic assumptions and a loss of $8.3 million to financial assumptions. (**) For the year 2024, r elated to Mattr’s pipe coating business unit acquisition. For more information see note 34. For the year 2023, related to the GPC, Isoplus anticorrosion coating division and Mattr’s pipe coating business unit acquisitions.
| Year ended December 31, |
| 2024 |  |  | 2023 |
Present value of funded obligations | 91,698 |  |  | 123,234 |
Fair value of plan assets | (102,653 | ) |  | (134,052 | )
Asset (*) | (10,955 | ) |  | (10,818 | )
(*) In 20 2 4 and 20 2 3, $13.5 million and $15.8 million corresponding to plans with surplus balance s that w ere reclassified within other non-current assets, respectively, consequently the net post-employment benefits funded exposed as liabilities amounted to $2.5 million and $5.0 million respectively.
| Year ended December 31, |
| 2024 |  |  | 2023 |
At the beginning of the year | 123,234 |  |  | 116,617 |
Translation differences | (5,627 | ) |  | 1,940 |
Current service cost | 176 |  |  | - |
Interest cost | 5,424 |  |  | 5,715 |
Remeasurements (*) | (182 | ) |  | 2,142 |
Increase due to business combinations (**) | - |  |  | 4,708 |
Benefits paid | (8,300 | ) |  | (8,459 | )
Other | (23,027 | ) |  | 571 |
At the end of the year | 91,698 |  |  | 123,234 |
(*) For the year 202 4 a loss of $0.1 million is attributable to demographic assumptions and a loss of $0.1 million to financial assumptions. For the year 202 3 a loss of $0.9 million is attributable to demographic assumptions and a loss of $1.3 million to financial assumptions. (**) For the years 2024 and 2023, r elated to Mattr’s pipe coating business unit acquisition. For more information see note 34.
Disclosure of sensitivity analysis for actuarial assumptions [text block] |
| Year ended December 31, |
| 2024 |  |  | 2023 |
Discount rate | 3% - 8% |  |  | 3% - 7% |
Rate of compensation increase | 2% - 6% |  |  | 2% - 5% |
| Year ended December 31, |
| 2024 |  |  | 2023 |
Discount rate | 5% - 6% |  |  | 5% - 5% |
Rate of compensation increase | 3% - 3% |  |  | 0% - 3% |
Disclosure of fair value of plan assets [text block] |
| Year ended December 31, |
| 2024 |  |  | 2023 |
At the beginning of the year | (134,052 | ) |  | (126,842 | )
Translation differences | 7,047 |  |  | (1,897 | )
Return on plan assets | (6,010 | ) |  | (6,121 | )
Remeasurements | (302 | ) |  | (4,225 | )
Increase due to business combinations (*) | - |  |  | (3,903 | )
Contributions paid to the plan | (1,269 | ) |  | - |
Benefits paid from the plan | 8,300 |  |  | 8,459 |
Other | 23,633 |  |  | 477 |
At the end of the year | (102,653 | ) |  | (134,052 | )
(*) For the years 2024 and 2023, r elated to Mattr’s pipe coating business unit acquisitio n. For more information see note 34.
| Year ended December 31, |
| 2024 |  |  | 2023 |
Equity instruments | 3% |  |  | 18% |
Debt instruments | 60% |  |  | 33% |
Others (*) | 37% |  |  | 49% |
(*) For the years 2024 and 2023, mainly include annuities purchased from an insurance company for the benefit of current and future retirees.
Disclosure of other current liabilities [text block] |
| Year ended December 31, |
| 2024 |  |  | 2023 |
Payroll and social security payable | 270,016 |  |  | 301,213 |
Shares to be settled under buyback program | 243,264 |  |  | 86,240 |
Miscellaneous | 72,495 |  |  | 35,192 |
| 585,775 |  |  | 422,645 |

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- Definition The disclosure of a net defined benefit liability (asset). [Refer: Net defined benefit liability (asset)] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 19 -IssueDate 2024-01-01 -Paragraph 140 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=19&code=ifrs-tx-2024-en-r&anchor=para_140_a&doctype=Standard -URIDate 2024-03-27 + Details
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- Definition The disclosure of other current liabilities. [Refer: Other current liabilities] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2024-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2024-en-r&anchor=para_10_e&doctype=Standard -URIDate 2024-03-27 + Details
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- Definition The disclosure of a sensitivity analysis for significant actuarial assumptions used to determine the present value of a defined benefit obligation. [Refer: Actuarial assumptions [domain]; Defined benefit obligation, at present value] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 19 -IssueDate 2024-01-01 -Paragraph 145 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=19&code=ifrs-tx-2024-en-r&anchor=para_145&doctype=Standard -URIDate 2024-03-27 + Details
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