Consolidated statement of changes in equity

(x €1,000)

Attributable to the shareholders of the Company

Notes

Share capital and premium

Translation reserve

Hedging reserve

Retained earnings

Total

Non-controlling interests

Total equity

As at 1 January 2024

839,311

(86,723)

26,369

141,538

920,495

324

920,819

Cash flow hedges in joint ventures

-

-

3,448

-

3,448

-

3,448

Reclassification of reserves to income statement

22

-

(1,500)

(29,793)

-

(31,293)

-

(31,293)

Remeasurements of post-employment benefit obligations

25

-

-

-

(12,735)

(12,735)

-

(12,735)

Exchange rate differences

-

22,006

-

-

22,006

11

22,017

Other comprehensive income, net of tax

-

20,506

(26,345)

(12,735)

(18,574)

11

(18,563)

Net result

-

-

-

82,248

82,248

(13)

82,235

Total comprehensive income

-

20,506

(26,345)

69,513

63,674

(2)

63,672

Repurchase of ordinary shares

23

-

-

-

(65,525)

(65,525)

-

(65,525)

Dividend

23

-

-

-

(25,840)

(25,840)

(296)

(26,136)

Share-based payments

29

-

-

-

2,709

2,709

-

2,709

Total transactions with owners

-

-

-

(88,656)

(88,656)

(296)

(88,952)

As at 31 December 2024

839,311

(66,217)

24

122,395

895,513

26

895,539

Remeasurements of post-employment benefit obligations

25

-

-

-

(11,472)

(11,472)

-

(11,472)

Exchange rate differences

-

(23,523)

-

-

(23,523)

(4)

(23,527)

Other comprehensive income, net of tax

-

(23,523)

-

(11,472)

(34,995)

(4)

(34,999)

Net result

-

-

-

210,990

210,990

(2)

210,988

Total comprehensive income

-

(23,523)

-

199,518

175,995

(6)

175,989

Repurchase of ordinary shares

23

-

-

-

(50,036)

(50,036)

-

(50,036)

Cancelation of shares

23

(1,204)

-

-

1,204

-

-

-

Dividend

23

-

-

-

(65,998)

(65,998)

(47)

(66,045)

Share-based payments

29

-

-

-

2,573

2,573

-

2,573

Other

-

-

(24)

24

-

421

421

Total transactions with owners

(1,204)

-

(24)

(112,233)

(113,461)

374

(113,087)

As at 31 December 2025

838,107

(89,740)

-

209,680

958,047

394

958,441