Share-based Payment (Tables)

12 Months Ended

Dec. 31, 2024

Disclosure of terms and conditions of share-based payment arrangement [abstract]

Summary of Share Based Payment

The following table specifies the number of RSUs and PSUs granted and outstanding:

	Restricted Stock Units			Performance Stock Units			Total
	(Number)
Outstanding at January 1, 2022		148,148			—			148,148
Transferred during the year		(41,685	)		—			(41,685	)
Forfeited during the year		(23,971	)		—			(23,971	)
Outstanding at December 31, 2022		82,492			—			82,492
Granted during the year (1)		609,860			112,268			722,128
Settled during the year		(18,132	)		—			(18,132	)
Transferred during the year		(20,098	)		—			(20,098	)
Forfeited during the year		(77,497	)		(7,245	)		(84,742	)
Outstanding at December 31, 2023		576,625			105,023			681,648
Granted during the year (1)		717,980			92,655			810,635
Transferred during the year		(212,160	)		(35,007	)		(247,167	)
Forfeited during the year		(88,638	)		(6,004	)		(94,642	)
Outstanding at December 31, 2024		993,807			156,667			1,150,474
Specified by vesting date
2025		384,098			62,304			446,402
2026		384,438			63,478			447,916
2027		225,271			30,885			256,156
Outstanding at December 31, 2024		993,807			156,667			1,150,474

(1)The fair value of RSUs and PSUs is determined on the basis of the closing ADS price on the grant date. The fair value of one RSU and one PSU at the date of grant was €141.01 and €105.96 for the years ended December 31, 2024 and December 31, 2023, respectively.

Summary of Weighted Average Exercise Prices and Movements in Warrants

The following table specifies the number and weighted average exercise prices of, and movements, in warrants:

	Warrants (number)			Weighted Average Exercise Price (EUR)
Outstanding at January 1, 2022		7,085,073			80.30
Granted during the year		357,092			100.40
Exercised during the year (1)		(214,613	)		21.83
Forfeited during the year		(363,541	)		123.62
Outstanding at December 31, 2022		6,864,011			81.30
Vested at the reporting date		4,972,026			66.34
Granted during the year		395,275			91.07
Exercised during the year (1)		(555,144	)		17.76
Forfeited during the year		(180,358	)		115.79
Outstanding at December 31, 2023		6,523,784			86.38
Vested at the reporting date		5,273,056			80.02
Granted during the year		504,105			122.48
Exercised during the year (1)		(682,048	)		43.35
Forfeited during the year		(141,719	)		107.85
Outstanding at December 31, 2024		6,204,122			93.25
Vested at the reporting date		5,226,643			89.33

(1)The weighted average share price (listed in $) at the date of exercise was €135.86, €98.10 and €113.60 for the years ended December 31, 2024, 2023 and 2022, respectively.

Schedule of Weighted Average Exercise Price and Weighted Remaining Contractual Life for Outstanding Warrants

The following table specifies the weighted average exercise prices and weighted average remaining contractual life for outstanding warrants at December 31, 2024 per grant year.

	Outstanding Warrants (number)		Weighted Average Exercise Price (EUR)		Weighted Average Remaining Life (months)
Granted before January 1, 2022		5,185,556		89.67		57
Granted in 2022		235,408		100.71		90
Granted in 2023		292,648		90.66		101
Granted in 2024		490,510		122.34		114
Outstanding at December 31, 2024		6,204,122		93.25		65

Summary of Fair Values for Warrant Grants

The following table summarizes the input to the Black-Scholes option-pricing model and the calculated fair values for warrant grants in 2024, 2023 and 2022:

		2024			2023			2022
Expected volatility		50	%		49-51	%		48-49	%
Risk-free interest rate		1.71 - 2.57	%		2.40 - 2.97	%		(0.08) - 2.54	%
Expected life of warrants (years)		6.0			6.0			6.0
Weighted average exercise price	€	122.48		€	91.07		€	100.40
Fair value of warrants granted in the year	€	50.86 - 70.39		€	37.34 - 52.03		€	36.55 - 60.85