Consolidated Statement of Changes in Equity

Attributable to shareholders of the Company

in EUR m

Share capital

Treasury shares

Retained earnings and other reserves

Hedging reserves

Currency translation

Total

Non- controlling interests

Total equity

At January 1, 2025

154.8

(1.9)

(1,243.7)

-

(94.6)

(1,185.4)

109.5

(1,075.9)

(Loss)/Profit for the year

-

-

(136.1)

-

-

(136.1)

30.9

(105.2)

Other comprehensive income

-

-

70.8

(7.2)

(48.0)

15.6

(8.1)

7.5

Total comprehensive income

-

-

(65.3)

(7.2)

(48.0)

(120.5)

22.8

(97.7)

Effect of hyperinflation accounting

-

-

0.5

-

-

0.5

-

0.5

Change in non-controlling interests (Note 4.3)

-

-

(2.3)

-

-

(2.3)

(1.9)

(4.2)

Dividends paid to non-controlling interests (Note 4.3)

-

-

-

-

-

-

(14.4)

(14.4)

At December 31, 2025

154.8

(1.9)

(1,310.8)

(7.2)

(142.6)

(1,307.7)

116.0

(1,191.7)

At January 1, 2024

154.8

(1.9)

(1,187.5)

-

(117.8)

(1,152.4)

91.3

(1,061.1)

(Loss)/Profit for the year

-

-

(58.8)

-

-

(58.8)

34.0

(24.8)

Other comprehensive income

-

-

6.6

-

23.2

29.8

(3.4)

26.4

Total comprehensive income

-

-

(52.2)

-

23.2

(29.0)

30.6

1.6

Effect of hyperinflation accounting

-

-

(4.0)

-

-

(4.0)

-

(4.0)

Change in non-controlling interests (Note 4.3)

-

-

-

-

-

-

(0.9)

(0.9)

Dividends paid to non-controlling interests (Note 4.3)

-

-

-

-

-

-

(11.5)

(11.5)

At December 31, 2024(I)

154.8

(1.9)

(1,243.7)

-

(94.6)

(1,185.4)

109.5

(1,075.9)

At January 1, 2023

154.8

(1.9)

(994.7)

-

(44.7)

(886.5)

79.7

(806.8)

(Loss)/Profit for the year

-

-

(179.7)

-

-

(179.7)

29.6

(150.1)

Other comprehensive income

-

-

(7.8)

-

(73.1)

(80.9)

(3.8)

(84.7)

Total comprehensive income

-

-

(187.5)

-

(73.1)

(260.6)

25.8

(234.8)

Effect of hyperinflation accounting

-

-

(8.5)

-

-

(8.5)

-

(8.5)

Contribution by non-controlling interests

-

-

-

-

-

-

0.3

0.3

Change in non-controlling interests (Note 4.3)

-

-

3.2

-

-

3.2

(6.7)

(3.5)

Dividends paid to non-controlling interests (Note 4.3)

-

-

-

-

-

-

(7.8)

(7.8)

At December 31, 2023(I)

154.8

(1.9)

(1,187.5)

-

(117.8)

(1,152.4)

91.3

(1,061.1)

(I)The Group changed its presentation currency to EUR in 2025 as further described in Note 1.4