32. Other liabilities
Other non-current liabilities comprise both financial and non-financial items. Other non-current financial liabilities as at December 31, 2024 are reported in the amount of EUR 5,254 thousand (December 31, 2023: EUR 8,434 thousand), and relate in particular to derivatives and other liabilities. The reported non-financial liabilities amount to EUR 4,542 thousand as at December 31, 2024 (December 31, 2023: EUR 5,125 thousand), and mainly include accrued items for personnel expenses and partial retirement obligations.
Other current liabilities consist of the following:
|
31/12/2024 |
31/12/2023 |
|---|---|---|
Other current financial liabilities |
|
|
Derivatives not yet settled (open positions) |
20,484 |
8,315 |
Other accruals |
35,531 |
33,672 |
Contract liabilities – accruals for discounts and rebates (see note 5) |
4,033 |
4,525 |
Supplier finance arrangements (payment services) |
64,480 |
0 |
Debtor payments from factoring not yet forwarded |
10,120 |
9,438 |
Interest accruals |
20,413 |
6,664 |
Other current financial liabilities |
6,054 |
4,155 |
|
161,115 |
66,769 |
|
|
|
Other current non-financial liabilities |
|
|
Liabilities from other taxes |
7,822 |
6,503 |
Wage and salary liabilities |
9,452 |
10,585 |
Social security liabilities |
8,391 |
7,769 |
Contract liabilities – down payments received (see note 5) |
18,830 |
12,198 |
Accruals for personnel expenses |
84,035 |
24,018 |
Deferred income and other |
2,276 |
1,403 |
|
130,806 |
62,476 |
|
|
|
Total |
291,921 |
129,244 |
The other accruals mainly cover liabilities for the delivery of goods and the performance of services by third parties which have not yet been invoiced.
In the 2024 financial year, the Lenzing Group started supplier financing agreements with suppliers of individual Group companies. The payment service provider settles the original trade payables on the respective invoice due date, discharging the debt, which results in a change of presentation on the consolidated statement of financial position. Liabilities to the payment service provider are shown as other current financial liabilities. Under the supplier financing agreements, the Lenzing Group pays the payment service provider 60 days after the invoice due date. The payments rendered to the payment service providers are included in the cash flow from operating activities, as the factual connection to the original liability and thereby the financial background of the cash outflows remains. The Lenzing Group regards the payments made by the payment service provider as non-cash transactions (see note 31).
The accruals for personnel costs consist primarily of liabilities for short-term claims by active and former employees (in particular, for unused vacation and compensation time, overtime and performance bonuses).