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Financial Risk Management (Tables) | 12 Months Ended
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Dec. 31, 2023
Financial Risk Management |
Schedule of maturity analysis of contract obligation for the construction of the newbuilds vessels | ​
​ | ​ | ​ | ​ | ​ | ​
​ |  | Less than | Between | Between | ​
Millions | ​ | 1 year | 1 and 2 years | 2 and 5 years | Total
2023 | ​ | ​ | ​ | ​ | ​
Obligation in USD | ​ | 328 | 833 | 180 | 1,341
Obligation in USD (in EUR) | ​ | 296 | 752 | 163 | 1,211
​ | ​ | ​ | ​ | ​ | ​
Obligation in EUR | ​ | 69 | 99 | 6 | 174
Total obligations (in EUR) | ​ | 365 | 851 | 169 | 1,385
2022 | ​ | ​ | ​ | ​ | ​
Obligation in USD |  | — | 197 | 619 | 816
Obligation in USD (in EUR) | ​ | — | 187 | 588 | 775
​ | ​ | ​ | ​ | ​ | ​
Obligation in EUR |  | 13 | 69 | 105 | 187
Total obligations (in EUR) | ​ | 13 | 256 | 693 | 962
Schedule of analysis of maturity profile of the financial liabilities of the Company based on contractual undiscounted cash flows | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Less than | ​ | Between | ​ | Between | ​ | ​
EUR’000 |  | 1 year |  | 1 and 2 years |  | 2 and 5 years |  | Total
2023 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Trade and other payables | ​ | 32,636 | ​ | — | ​ | — | ​ | 32,636
Payables to Related parties | ​ | 162 | ​ | — | ​ | — | ​ | 162
Lease liabilities | ​ | 601 | ​ | 392 | ​ | — | ​ | 993
Debt to credit institutions | ​ | 799 | ​ | — | ​ | 204,773 | ​ | 205,572
Derivatives | ​ | 4,004 | ​ | 5,683 | ​ | 12,274 | ​ | 21,961
​ | ​ | 38,202 | ​ | 6,075 | ​ | 217,047 | ​ | 261,324
2022 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Trade and other payables | ​ | 8,822 | ​ | — | ​ | — | ​ | 8,822
Payables to Related parties |  | 89 |  | — |  | — |  | 89
Lease liabilities |  | 279 |  | — |  | — |  | 279
Debt to credit institutions |  | 772 |  | — |  | 114,230 |  | 115,002
Derivatives |  | — |  | 1,821 |  | 287 |  | 2,108
​ |  | 9,962 |  | 1,821 |  | 114,517 |  | 126,300
2021 |  |  |  |  |  |  |  |
Trade and other payables |  | 9,703 |  | — |  | — |  | 9,703
Payables to Related parties |  | 63 |  | — |  | — |  | 63
Lease liabilities |  | 298 |  | 209 |  | — |  | 507
Debt to credit institutions |  | 28,599 |  | 14,476 |  | 30,000 |  | 73,075
​ |  | 38,663 |  | 14,685 |  | 30,000 |  | 83,348
Schedule of changes in lease liabilities and change in the debts to credit institutes during the year | ​
​ | ​ | ​ | ​ | ​
EUR’000 |  | 2023 | 2022 | 2021
Lease liabilities at 1 January (current and non-current lease) |  | 279 | 507 | 792
Acquisition of subsidiaries |  | 1,299 | — | —
Exchange differences | ​ | (16) | — | —
Cash paid for lease obligations | ​ | (569) | (228) | (285)
Lease liabilities at 31 December (current and non-current lease) |  | 993 | 279 | 507
Current | ​ | 392 | — | 209
Non-current | ​ | 601 | 279 | 298
​ Change in the debts to credit institutions during the year ​
​ | ​ | ​ | ​ | ​
EUR’000 |  | 2023 | 2022 | 2021
Debt to credit institutions at 1 January |  | (115,002) | (73,075) | (73,500)
Overdraft facility drawn |  | — | (16,067) | (8,998)
Loans repayment |  | 115,000 | 65,000 | 10,000
Overdraft repayment |  | — | 25,065 | —
New loan |  | (211,934) | (115,000) | —
New loan interests |  | 8,262 | 1,541 | —
Write off of loan fees | ​ | (1,898) | (923) | —
Others |  | — | (1,543) | (577)
Debt to credit institutions at 31 December |  | (205,572) | (115,002) | (73,075)
Schedule of maturity analysis of derivative financial instruments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Less than | Between | After | ​ | Carrying
EUR’000 |  | 1 year | 1 and 2 years | 2 years | Total | amount
2023 | ​ |  |  |  |  |
Derivative financial instruments |  |  |  |  |  |
Interest rate swaps with a positive fair value |  | — | — | — | — | —
Interest rate swaps with a negative fair value |  | 798 | (3,166) | (11,862) | (14,229) | (11,855)
Gross settled foreign currency contracts, pay leg (EUR) |  | — | (183,741) | — | (183,741) | —
Gross settled foreign currency contracts, receive leg (USD) | ​ | — | 178,403 | — | 178,403 | (5,338)
​ | ​ | 798 | (8,504) | (11,862) | (19,567) | (17,193)
2022 | ​ | ​ | ​ | ​ | ​ | ​
Derivative financial instruments | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps with a positive fair value | ​ | (305) | 1,158 | 4,231 | 5,084 | 3,376
Interest rate swaps with a negative fair value | ​ | — | — | (370) | (370) | (287)
Gross settled foreign currency contracts, pay leg (EUR) | ​ | — | (183,741) | — | (183,741) | —
Gross settled foreign currency contracts, receive leg (USD) | ​ | — | 181,921 | — | 181,921 | (1,821)
​ |  | (305) | (662) | 3,861 | 2,894 | 1,268
Schedule of fair value measurement hierarchy of the Group's assets and liabilities | ​
​ | ​ | ​ | ​ | ​ | ​
EUR’000 |  | Level 1 | Level 2 | Level 3 | Total
2023 |  |  |  |  |
Through the consolidated statement of profit and loss |  | ​ | ​ | ​ | ​
Derivative assets |  | — | — | — | —
Total financial assets at fair value through the consolidated statement of profit and loss |  | — | — | — | —
Derivative liabilities |  | — | (403) | — | (403)
Total financial liabilities at fair value through the consolidated statement of profit and loss |  | — | (403) | — | (403)
Cash flow hedges: | ​ | ​ | ​ | ​ | ​
Derivative assets |  | — | 338 | — | 338
Derivative liabilities | ​ | — | (17,937) | — | (17,937)
2022 | ​ | ​ | ​ | ​ | ​
Through the consolidated statement of profit and loss | ​ | ​ | ​ | ​ | ​
Derivative assets | ​ | — | 363 | — | 363
Total financial assets at fair value through the consolidated statement of profit and loss | ​ | — | 363 | — | 363
Derivative liabilities | ​ | — | — | — | —
Total financial liabilities at fair value through the consolidated statement of profit and loss | ​ | — | — | — | —
Cash flow hedges: | ​ | ​ | ​ | ​ | ​
Derivative assets | ​ | — | 3,013 | — | 3,013
Derivative liabilities |  | — | (2,108) | — | (2,108)
​

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