v3.25.4
Consolidated statement of cash flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating activities      
Net loss $ (153,115) $ (202,272) $ (417,060)
Adjustments to reconcile net loss to net cash flows      
Depreciation of property, plant and equipment and right-of-use assets and amortization of intangible assets 48,570 49,966 51,702
Impairment of property, plant and equipment and right-of-use assets and intangible assets 740   1,828
Impairment loss/(gain)on trade receivables 913 (234) 611
Write-down of inventories 8,024 3,095 16,981
Share-based compensation 13,261 13,598 21,446
Movements in provisions (14,896) (14,414) 36,341
Finance income (9,944) (57,758) (117,876)
Finance expenses 87,132 70,179 69,029
Income tax expense 8,197 3,699 8,895
(Gain)/Loss on disposal of property, plant and equipment and intangible assets   (307) 675
Impairment related to discontinued construction of production facilities   24,117 172,588
Impairment related to closure of production facility   19,113  
Other   1,441  
Interest received 1,558 8,285 9,630
Interest paid (23,984) (24,518) (20,504)
Income tax paid (318) (3,386) (18,098)
Changes in working capital:      
(Increase)/decrease in inventories (6,176) (3,456) 30,543
Decrease/(increase) in trade receivables, other current receivables, prepaid expenses 14,400 14,786 (2,502)
Increase/(decrease) in trade payables, other current liabilities, accrued expenses 1,915 (16,362) (9,855)
Net cash flows used in operating activities (23,723) (114,428) (165,626)
Investing activities      
Purchase of intangible assets (2,858) (2,055) (2,950)
Purchase of property, plant and equipment (12,396) (39,140) (66,095)
Investments in financial assets (1,314)   (1,651)
Proceeds from sales of property, plant and equipment 575 31,201  
Proceeds from sale of assets held for sale     43,998
Other 449 743  
Net cash flows used in investing activities (15,544) (9,251) (26,698)
Financing activities      
Proceeds from liabilities to credit institutions 2,822   176,854
Repayment of liabilities to credit institutions (133,343) (2,678) (102,848)
Repurchase of U.S. Notes (24,629)    
Repayment of lease liabilities (11,945) (19,645) (11,411)
Payment of loan transaction costs (12,729) (4,965) (32,550)
Proceeds from exercise of stock options 111    
Cash flows from/(used in) financing activities 1,184 (27,288) 354,995
Net (decrease)/increase in cash and cash equivalents (38,083) (150,967) 162,671
Cash and cash equivalents at January 1 98,923 249,299 82,644
Exchange rate differences in cash and cash equivalents 3,505 591 3,984
Cash and cash equivalents at December 31 64,345 $ 98,923 249,299
Convertible Notes      
Financing activities      
Proceeds from Convertible Notes/bonds     $ 324,950
Nordic Bonds      
Financing activities      
Proceeds from Convertible Notes/bonds $ 180,897