Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2024

A summary of the useful lives applied to the Group’s intangible assets is as follows:



Intangible assets		Useful life (years)
Intellectual property rights		8-20
Licenses		3-20
Software		3-8

Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets, as follows:



Property, plant and equipment		Useful life (years)
Buildings		10-33
Equipment, tools and installations		7-18



(in millions €)	Land and buildings	Equipment, tools and installations	Construction in progress and advance payments	Total
Acquisition and production costs
As of January 1, 2023	217.0	273.0	235.5	725.5
Additions	9.7	50.3	189.4	249.4
Disposals	—	(2.4)	(0.2)	(2.6)
Reclassifications	9.3	22.3	(31.6)	—
Currency differences	(0.6)	(1.2)	(3.6)	(5.4)
Acquisition of subsidiaries and businesses	—	2.1	—	2.1
As of December 31, 2023	235.4	344.1	389.5	969.0
Additions	46.2	49.3	192.4	287.9
Disposals	(0.3)	(4.7)	—	(5.0)
Reclassifications	86.6	36.3	(122.9)	—
Currency differences	1.5	2.7	1.6	5.8
As of December 31, 2024	369.4	427.7	460.6	1,257.7



(in millions €)	Land and buildings	Equipment, tools and installations	Construction in progress and advance payments	Total
Cumulative depreciation and impairment charges
As of January 1, 2023	22.0	94.3	—	116.3
Depreciation	14.4	83.3	—	97.7
Disposals	—	(1.7)	—	(1.7)
Currency differences	(0.2)	(0.3)	—	(0.5)
As of December 31, 2023	36.2	175.6	—	211.8
Depreciation	12.3	38.3	4.3	54.9
Impairment	26.0	32.1	—	58.1
Disposals	(0.1)	(4.0)	—	(4.1)
Currency differences	0.4	1.0	0.3	1.7
As of December 31, 2024	74.8	243.0	4.6	322.4



(in millions €)	Land and buildings	Equipment, tools and installations	Construction in progress and advance payments	Total
Carrying amount
As of December 31, 2023	199.2	168.5	389.5	757.2
As of December 31, 2024	294.6	184.7	456.0	935.3

The depreciation of the right-of-use asset is calculated on a straight-line basis over the estimated useful lives of

the assets or shorter lease term, as follows:



Right-of-use assets		Useful life or shorter lease term (years)
Buildings		2-25
Equipment, tools and installations		2-5
Production facilities		2-3
Automobiles		3-4

In 2024, the following potentially relevant new and amended standards and interpretations became effective, but

did not have a material impact on our consolidated financial statements:



Standards / Interpretations		Date of application
Amendments to IFRS 16 Leases: Lease Liability in a Sale and Leaseback		January 1, 2024
Amendments to IAS 7 Statement of Cash Flows and IFRS 7 Financial Instruments: Disclosures: Supplier Finance Arrangements		January 1, 2024
Amendments to IAS 1 Presentation of Financial Statements: Classification of Liabilities as Current or Non-Current		January 1, 2024
Amendments to IAS 1 Presentation of Financial Statements: Non-current Liabilities with Covenants		January 1, 2024

The new and amended standards and interpretations that are issued but not yet effective by the date of issuance

of the financial statements and that might have an impact on our financial statements are disclosed below. We

have not adopted any standards early and intend to adopt these new and amended standards and

interpretations, if applicable, when they become effective.



Standards / Interpretations			Date of application
Amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates: Lack of Exchangeability			January 1, 2025
Amendments to the Classification and Measurement of Financial Instruments: – Amendments to IFRS 9 and IFRS 7			January 1, 2026
Annual Improvements Volume 11			January 1, 2026
Contracts Referencing Nature-dependent Electricity – Amendments to IFRS 9 and IFRS 7			January 1, 2026
IFRS 18 Presentation and Disclosure in Financial Statements			January 1, 2027
IFRS 19 Subsidiaries without Public Accountability: Disclosures			January 1, 2027