Financial Risk Management (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of detailed information about financial instruments [abstract]

Summary of Number of Shares

The number of outstanding shares of the Company are as follows:

	2023		2022		2021		2020		2019
	(Number)
Changes in share capital
At January 1		57,152,295		56,937,682		53,750,386		47,985,837		42,135,448
Increase through cash contributions		555,144		214,613		3,187,296		5,764,549		5,850,389
At December 31		57,707,439		57,152,295		56,937,682		53,750,386		47,985,837

Summary Of Holding Of Treasury Shares

The holding of treasury shares are as follows:

	Nominal value			Holding			Holding in % of total outstanding shares
	(EUR’000)			(Number)
Treasury shares
At January 1, 2022		21			154,837			—
Acquired from third parties		134			1,000,000			—
Transferred under stock incentive programs		(6	)		(41,685	)		—
At December 31, 2022		149			1,113,152			2.0	%
Transferred under stock incentive programs		(3	)		(20,098	)		—
At December 31, 2023		146			1,093,054			1.9	%

Summary of Foreign Currency Sensitivity Analysis

				Hypothetical impact on consolidated financial statements
	Nominal positions (net)			Increase in foreign currency exchange rate			Profit/(loss) before tax			Equity before tax
	(EUR ‘000)
USD/EUR
December 31, 2023		(369,091	)		10	%		(36,909	)		(36,909	)
December 31, 2022		60,581			10	%		6,058			6,058

Summary Of Rate Structure Of Marketable Securities

Rate structure of marketable securities are specified below:

	2023				2022
	Carrying amount		Fair value		Carrying amount		Fair value
	(EUR’000)
Marketable securities specified by rate structure
Fixed rate		7,275		7,266		205,825		203,543
Floating rate		—		—		11,787		11,773
Zero-coupon		—		—		80,568		80,527
Total marketable securities		7,275		7,266		298,180		295,843

Schedule Of Marketable Securities Specified By Investment Grade Credit Rating

Marketable securities specified by investment grade credit rating are specified below:

	2023				2022
	Carrying amount		Fair value		Carrying amount		Fair value
	(EUR’000)
Marketable securities specified by investment grade credit rating
High grade		4,523		4,519		203,530		202,048
Upper medium grade		2,752		2,747		94,650		93,795
Total marketable securities		7,275		7,266		298,180		295,843

Summary of Marketable securities

	2023				2022
	Carrying amount		Fair value		Carrying amount		Fair value
	(EUR’000)
Marketable securities specified by security type
U.S. Treasury bills		—		—		79,086		79,043
U.S. Government bonds		4,523		4,519		99,337		98,075
Corporate bonds		2,752		2,747		104,236		103,301
Agency bonds		—		—		15,521		15,424
Total marketable securities		7,275		7,266		298,180		295,843
Classified based on maturity profiles
Non-current assets		—		—		7,492		7,201
Current assets		7,275		7,266		290,688		288,642
Total marketable securities		7,275		7,266		298,180		295,843

At

Summary of Contractual Cash Flows for Financial Liabilities

Contractual cash flows for non-derivative financial liabilities recognized in the consolidated statements of financial position are specified below.

	< 1 year		1-5 years		>5 years		Total contractual cash-flows		Carrying amount
	(EUR’000)
Financial liabilities
December 31, 2023
Borrowings		11,708		742,925		42,397		797,030		545,472
Lease liabilities		14,385		51,426		49,056		114,867		98,793
Trade payables and accrued expenses		94,566		—		—		94,566		94,566
Total financial liabilities		120,659		794,351		91,453		1,006,463		738,831
Financial liabilities
December 31, 2022
Borrowings		12,130		48,519		545,161		605,810		399,186
Lease liabilities		13,996		53,821		60,946		128,763		109,191
Trade payables and accrued expenses		101,032		—		—		101,032		101,032
Total financial liabilities		127,158		102,340		606,107		835,605		609,409