v3.26.1
Financial instruments (Tables)
6 Months Ended
Jun. 30, 2026
Financial instruments  
Schedule of carrying amount and fair value of financial instruments

Carrying amount and fair value of financial instruments

in € K

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

June 30, 2026

 

Carrying amount

 

Fair value

​

​

Amortized

​

​

​

​

​

Not

​

​

​

​

​

​

​

​

​

  ​ ​ ​

cost

  ​ ​ ​

FVPL

  ​ ​ ​

FVOCI

  ​ ​ ​

 classified

  ​ ​ ​

Total

  ​ ​ ​

Level 1

  ​ ​ ​

Level 2

  ​ ​ ​

Level 3

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Cash and cash equivalents

​

951,310

​

109,941

​

—

​

—

​

1,061,251

​

109,941

​

—

​

—

Trade accounts and other receivables from unrelated parties

​

3,186,023

​

—

​

—

​

95,333

​

3,281,356

​

—

​

—

​

—

Accounts receivable from related parties

​

29,569

​

—

​

—

​

—

​

29,569

​

—

​

—

​

—

Derivatives - cash flow hedging instruments

​

—

​

—

​

—

​

7,029

​

7,029

​

—

​

7,029

​

—

Derivatives - not designated as hedging instruments

​

—

​

9,731

​

—

​

—

​

9,731

​

—

​

9,731

​

—

Derivatives embedded in vPPAs

​

—

​

1,213

​

—

​

—

​

1,213

​

—

​

—

​

1,213

Equity investments

​

—

​

31,967

​

62,364

​

—

​

94,331

​

12,707

​

64,365

​

17,259

Debt securities

​

—

​

81,106

​

376,696

​

—

​

457,802

​

457,802

​

—

​

—

Other financial assets(1)

​

313,042

​

109,260

​

—

​

91,222

​

513,524

​

—

​

—

​

109,260

Other current and non-current assets

​

313,042

​

233,277

​

439,060

​

98,251

​

1,083,630

​

—

​

—

​

—

Financial assets

​

4,479,944

​

343,218

​

439,060

​

193,584

​

5,455,806

​

—

​

—

​

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Accounts payable to unrelated parties

​

799,865

​

—

​

—

​

—

​

799,865

​

—

​

—

​

—

Accounts payable to related parties

​

81,352

​

—

​

—

​

—

​

81,352

​

—

​

—

​

—

Short-term debt

​

464,648

​

—

​

—

​

—

​

464,648

​

—

​

—

​

—

Long-term debt

​

7,101,262

​

—

​

—

​

—

​

7,101,262

​

6,380,373

​

428,006

​

—

Lease liabilities

​

—

​

—

​

—

​

3,397,435

​

3,397,435

​

—

​

—

​

—

Derivatives - cash flow hedging instruments

​

—

​

—

​

—

​

23,677

​

23,677

​

—

​

23,677

​

—

Derivatives - not designated as hedging instruments

​

—

​

48,812

​

—

​

—

​

48,812

​

—

​

48,812

​

—

Derivatives embedded in vPPAs

​

—

​

13,553

​

—

​

—

​

13,553

​

—

​

—

​

13,553

Variable payments outstanding for acquisitions

​

—

​

6,670

​

—

​

—

​

6,670

​

—

​

—

​

6,670

Put option liabilities

​

—

​

—

​

—

​

868,198

​

868,198

​

—

​

—

​

868,198

Other financial liabilities(2)

​

1,582,674

​

—

​

—

​

—

​

1,582,674

​

—

​

—

​

—

Other current and non-current liabilities

​

1,582,674

​

69,035

​

—

​

891,875

​

2,543,584

​

—

​

—

​

—

Financial liabilities

​

10,029,801

​

69,035

​

—

​

4,289,310

​

14,388,146

​

—

​

—

​

—

​

Carrying amount and fair value of financial instruments

in € K

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2025

 

Carrying amount

 

Fair value

​

​

Amortized

​

​

​

​

​

Not

​

​

​

​

​

​

​

​

​

  ​ ​ ​

cost

  ​ ​ ​

FVPL

  ​ ​ ​

FVOCI

  ​ ​ ​

classified

  ​ ​ ​

Total

  ​ ​ ​

Level 1

  ​ ​ ​

Level 2

  ​ ​ ​

Level 3

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Cash and cash equivalents

 

1,341,121

​

257,992

​

—

​

—

​

1,599,113

​

257,992

​

—

​

—

Trade accounts and other receivables from unrelated parties

 

3,018,004

​

—

​

—

​

89,499

​

3,107,503

​

—

​

—

​

—

Accounts receivable from related parties

 

32,683

​

—

​

—

​

—

​

32,683

​

—

​

—

​

—

Derivatives - cash flow hedging instruments

 

—

​

—

​

—

​

13,856

​

13,856

​

—

​

13,856

​

—

Derivatives - not designated as hedging instruments

 

—

​

11,546

​

—

​

—

​

11,546

​

—

​

11,546

​

—

Derivatives embedded in vPPAs

​

—

​

7,730

​

—

​

—

​

7,730

​

—

​

—

​

7,730

Equity investments

 

—

​

31,011

​

58,497

​

—

​

89,508

​

15,239

​

60,498

​

13,771

Debt securities

 

—

​

73,924

​

356,295

​

—

​

430,219

​

430,219

​

—

​

—

Other financial assets(1)

 

365,081

​

99,154

​

—

​

89,241

​

553,476

​

—

​

—

​

99,154

Other current and non-current assets

 

365,081

​

223,365

​

414,792

​

103,097

​

1,106,335

​

—

​

—

​

—

Financial assets

 

4,756,889

​

481,357

​

414,792

​

192,596

​

5,845,634

​

—

​

—

​

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Accounts payable to unrelated parties

 

722,974

​

—

​

—

​

—

​

722,974

​

—

​

—

​

—

Accounts payable to related parties

 

97,951

​

—

​

—

​

—

​

97,951

​

—

​

—

​

—

Short-term debt

 

17,015

​

—

​

—

​

—

​

17,015

​

—

​

—

​

—

Long-term debt

 

7,287,881

​

—

​

—

​

—

​

7,287,881

​

6,716,223

​

318,336

​

—

Lease liabilities

​

—

​

—

​

—

​

3,490,709

​

3,490,709

​

—

​

—

​

—

Derivatives - cash flow hedging instruments

 

—

​

—

​

—

​

2,647

​

2,647

​

—

​

2,647

​

—

Derivatives - not designated as hedging instruments

 

—

​

9,147

​

—

​

—

​

9,147

​

—

​

9,147

​

—

Derivatives embedded in vPPAs

 

—

​

9,463

​

—

​

—

​

9,463

​

—

​

—

​

9,463

Variable payments outstanding for acquisitions

 

—

​

3,262

​

—

​

—

​

3,262

​

—

​

—

​

3,262

Put option liabilities

 

—

​

—

​

—

​

793,043

​

793,043

​

—

​

—

​

793,043

Other financial liabilities(2)

 

966,121

​

—

​

—

​

—

​

966,121

​

—

​

—

​

—

Other current and non-current liabilities

​

966,121

​

21,872

​

—

​

795,690

​

1,783,683

​

—

​

—

​

—

Financial liabilities

 

9,091,942

​

21,872

​

—

​

4,286,399

​

13,400,213

​

—

​

—

​

—

(1)

As of June 30, 2026 other financial assets primarily include receivables related to a royalty stream that the Company is entitled to base on sales made by Humacyte, Inc. in the U.S., vendor and supplier rebates, lease receivables, deposits, guarantees, and securities, notes receivables as well as receivables related to consent agreement on certain pharmaceuticals. As of December 31, 2025 other financial assets primarily include receivables related to a royalty stream that the Company is entitled to base on sales made by Humacyte, Inc., vendor and supplier rebates, lease receivables, notes receivable, receivables related to consent agreement on certain pharmaceuticals as well as deposits, guarantees, and securities.

(2)

As of June 30, 2026 other financial liabilities primarily include liabilities for shares yet to be repurchased under the Company’s share buyback program, receivable credit balances and goods and services received. As of December 31, 2025, other financial liabilities primarily include receivable credit balances and goods and services received.

​

Schedule of sensitivities of derivatives embedded in vPPAs to changes in unobservable inputs

Sensitivities of derivatives embedded in vPPAs to changes in unobservable inputs

in € K

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Change in expected electricity prices

  ​ ​ ​

Change in expected production volumes

  ​ ​ ​

Change in expected interest rates

​

​

10% increase

  ​ ​ ​

10% decrease

​

10% increase

  ​ ​ ​

10% decrease

  ​ ​ ​

1% increase

  ​ ​ ​

1% decrease

2026

​

23,918

​

(23,859)

​

(865)

​

865

​

337

​

(384)

2025

​

24,356

​

(24,305)

​

155

​

(155)

​

(183)

​

196

Schedule of reconciliation of level 3 financial instruments

Reconciliation of derivatives embedded in vPPAs

in € K

​

​

​

​

​

​

  ​ ​ ​

2026

  ​ ​ ​

2025

​

​

Derivatives embedded in the vPPAs - (Liabilities)/Assets

Beginning balance at January 1,

​

(1,733)

 

(25,394)

Settlements

​

5,620

 

10,867

Gain (loss) recognized in profit or loss (1)

​

(16,312)

 

11,308

Foreign currency translation and other changes

​

85

 

1,486

Ending balance at June 30, and December 31,

​

(12,340)

 

(1,733)

(1)Includes realized and unrealized gains / losses.

Reconciliation from beginning to ending balance of level 3 financial instruments

in € K

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

2026

  ​ ​ ​

2025

​

​

​

​

​

Variable

​

​

​

Other

​

​

​

Variable

​

​

​

Other

​

​

​

​

​

payments

​

​

​

financial

​

​

​

payments

​

​

​

financial

​

​

​

​

​

outstanding

​

​

​

assets

​

​

​

outstanding

​

​

​

assets

​

​

​

Equity

​

for

​

Put option

​

measured at

​

Equity

​

for

​

Put option

​

measured at

​

​

  ​ ​ ​

investments

  ​ ​ ​

acquisitions

  ​ ​ ​

liabilities

  ​ ​ ​

FVPL (1)

  ​ ​ ​

investments

  ​ ​ ​

acquisitions

  ​ ​ ​

liabilities

  ​ ​ ​

FVPL (1)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Beginning balance at January 1,

 

13,771

​

3,262

​

793,043

​

99,154

​

29,154

​

7,933

​

1,299,117

​

142,264

​

Increase

​

3,283

​

3,229

​

5,128

​

—

​

2,002

​

1,507

​

32,307

​

7,808

​

Decrease

​

—

​

—

​

(31,281)

​

—

​

—

​

(4,581)

​

(341,992)

​

(22,855)

​

Gain / loss recognized in profit or loss (2)

​

(295)

​

—

​

—

​

6,858

​

(14,487)

​

(928)

​

—

​

(13,460)

​

Gain / loss recognized in equity

 

—

​

—

​

76,050

​

—

​

—

​

—

​

(54,964)

​

—

​

Foreign currency translation and other changes

​

500

​

179

​

25,258

​

3,248

​

(2,898)

​

(669)

​

(141,425)

​

(14,603)

​

Ending balance at June 30, and December 31,

​

17,259

​

6,670

​

868,198

​

109,260

​

13,771

​

3,262

​

793,043

​

99,154

​

(1)As of June 30, 2026 and December 31, 2025, other financial assets measured at FVPL consist mainly of receivables related to a royalty stream that the Company is entitled to base on sales made by Humacyte, Inc.
(2)Includes realized and unrealized gains / losses.