<p class="section-heading" id="el-8-0">Consolidated statement of changes in equity</p>
<p class="sub-section-heading" id="el-8-1">for the year ended 31 December 2023</p>
<table class="accounts-table" id="el-8-2"><tbody>
<tr data-row-no="0">
<td colspan="1">
</td>
<td colspan="1">
<p class="table-headings align-right"><strong>Share capital</strong></p>
</td>
<td colspan="1">
<p class="table-headings align-right"><strong>Share premium</strong></p>
</td>
<td colspan="1">
<p class="table-headings align-right"><strong>Capital reserves</strong></p>
</td>
<td colspan="1">
<p class="table-headings align-right"><strong>Share-based payment reserve</strong></p>
</td>
<td colspan="1">
<p class="table-headings align-right"><strong>Hedging reserve</strong></p>
</td>
<td colspan="1">
<p class="table-headings align-right"><strong>Revaluation reserve</strong></p>
</td>
<td colspan="1">
<p class="table-headings align-right"><strong>Translation reserve</strong></p>
</td>
<td colspan="1">
<p class="table-headings align-right"><strong>Retained earnings</strong></p>
</td>
<td colspan="1">
<p class="table-headings align-right"><strong>Total</strong></p>
</td>
</tr>
<tr data-row-no="1">
<td class="heavy-line" colspan="1">
</td>
<td class="heavy-line" colspan="1">
<p class="table-headings align-right"><strong>€’000</strong></p>
</td>
<td class="heavy-line" colspan="1">
<p class="table-headings align-right"><strong>€’000</strong></p>
</td>
<td class="heavy-line" colspan="1">
<p class="table-headings align-right"><strong>€’000</strong></p>
</td>
<td class="heavy-line" colspan="1">
<p class="table-headings align-right"><strong>€’000</strong></p>
</td>
<td class="heavy-line" colspan="1">
<p class="table-headings align-right"><strong>€’000</strong></p>
</td>
<td class="heavy-line" colspan="1">
<p class="table-headings align-right"><strong>€’000</strong></p>
</td>
<td class="heavy-line" colspan="1">
<p class="table-headings align-right"><strong>€’000</strong></p>
</td>
<td class="heavy-line" colspan="1">
<p class="table-headings align-right"><strong>€’000</strong></p>
</td>
<td class="heavy-line" colspan="1">
<p class="table-headings align-right"><strong>€’000</strong></p>
</td>
</tr>
<tr data-row-no="2">
<td colspan="1">
<p class="normal">At 1 January 2023</p>
</td>
<td colspan="1">
<p class="accounts align-right"><strong>2,229</strong></p>
</td>
<td colspan="1">
<p class="accounts align-right"><strong>504,910</strong></p>
</td>
<td colspan="1">
<p class="accounts align-right"><strong>106,988</strong></p>
</td>
<td colspan="1">
<p class="accounts align-right"><strong>5,011</strong></p>
</td>
<td colspan="1">
<p class="accounts align-right"><strong>8,788</strong></p>
</td>
<td colspan="1">
<p class="accounts align-right"><strong>379,534</strong></p>
</td>
<td colspan="1">
<p class="normal align-right"><strong>(17,235)</strong></p>
</td>
<td colspan="1">
<p class="accounts align-right"><strong>232,541</strong></p>
</td>
<td colspan="1">
<p class="accounts align-right"><strong>1,222,766</strong></p>
</td>
</tr>
<tr data-row-no="3">
<td colspan="1">
<p class="heading-2"><strong>Comprehensive income:</strong></p>
</td>
<td colspan="1">
</td>
<td colspan="1">
</td>
<td colspan="1">
</td>
<td colspan="1">
</td>
<td colspan="1">
</td>
<td colspan="1">
</td>
<td colspan="1">
</td>
<td colspan="1">
</td>
<td colspan="1">
</td>
</tr>
<tr data-row-no="4">
<td colspan="1">
<p class="normal">Profit for the year</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">- </p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">90,222</p>
</td>
<td colspan="1">
<p class="accounts align-right"><strong>90,222</strong></p>
</td>
</tr>
<tr data-row-no="5">
<td colspan="1">
<p class="heading-2"><strong>Other comprehensive income</strong></p>
</td>
<td colspan="1">
</td>
<td colspan="1">
</td>
<td colspan="1">
</td>
<td colspan="1">
</td>
<td colspan="1">
</td>
<td colspan="1">
</td>
<td colspan="1">
</td>
<td colspan="1">
</td>
<td colspan="1">
</td>
</tr>
<tr data-row-no="6">
<td colspan="1">
<p class="normal">Exchange gain on translating foreign operations</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">- </p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">11,396</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right"><strong>11,396</strong></p>
</td>
</tr>
<tr data-row-no="7">
<td colspan="1">
<p class="normal">Loss on net investment hedge</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">- </p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts-bracket align-right">(6,343)</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="normal align-right"><strong>(6,343)</strong></p>
</td>
</tr>
<tr data-row-no="8">
<td colspan="1">
<p class="normal">Revaluation of properties (<a href="#note-13">note 13</a>)</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">- </p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">92,098</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right"><strong>92,098</strong></p>
</td>
</tr>
<tr data-row-no="9">
<td colspan="1">
<p class="normal">Fair value movement on cash flow hedges (<a href="#note-23">note 23</a>)</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">- </p>
</td>
<td colspan="1">
<p class="accounts align-right">1,753</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right"><strong>1,753</strong></p>
</td>
</tr>
<tr data-row-no="10">
<td colspan="1">
<p class="normal">Cash flow hedges – reclassified to profit or loss (<a href="#note-23">note 23</a>)</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">- </p>
</td>
<td colspan="1">
<p class="accounts-bracket align-right">(6,949)</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="normal align-right"><strong>(6,949)</strong></p>
</td>
</tr>
<tr data-row-no="11">
<td class="light-line" colspan="1">
<p class="normal">Related deferred tax</p>
</td>
<td class="light-line" colspan="1">
<p class="accounts align-right">-</p>
</td>
<td class="light-line" colspan="1">
<p class="accounts align-right">-</p>
</td>
<td class="light-line" colspan="1">
<p class="accounts align-right">-</p>
</td>
<td class="light-line" colspan="1">
<p class="accounts align-right">- </p>
</td>
<td class="light-line" colspan="1">
<p class="accounts align-right">1,299</p>
</td>
<td class="light-line" colspan="1">
<p class="accounts-bracket align-right">(10,451)</p>
</td>
<td class="light-line" colspan="1">
<p class="accounts align-right">-</p>
</td>
<td class="light-line" colspan="1">
<p class="accounts align-right">-</p>
</td>
<td class="light-line" colspan="1">
<p class="normal align-right"><strong>(9,152)</strong></p>
</td>
</tr>
<tr data-row-no="12">
<td class="light-line" colspan="1">
<p class="heading-2"><strong>Total comprehensive income for the year</strong></p>
</td>
<td class="light-line" colspan="1">
<p class="accounts align-right"><strong>-</strong></p>
</td>
<td class="light-line" colspan="1">
<p class="accounts align-right"><strong>-</strong></p>
</td>
<td class="light-line" colspan="1">
<p class="accounts align-right"><strong>-</strong></p>
</td>
<td class="light-line" colspan="1">
<p class="accounts align-right"><strong>- </strong></p>
</td>
<td class="light-line" colspan="1">
<p class="normal align-right"><strong>(3,897)</strong></p>
</td>
<td class="light-line" colspan="1">
<p class="accounts align-right"><strong>81,647</strong></p>
</td>
<td class="light-line" colspan="1">
<p class="accounts align-right"><strong>5,053</strong></p>
</td>
<td class="light-line" colspan="1">
<p class="accounts align-right"><strong>90,222</strong></p>
</td>
<td class="light-line" colspan="1">
<p class="accounts align-right"><strong>173,025</strong></p>
</td>
</tr>
<tr data-row-no="13">
<td colspan="1">
</td>
<td colspan="1">
</td>
<td colspan="1">
</td>
<td colspan="1">
</td>
<td colspan="1">
</td>
<td colspan="1">
</td>
<td colspan="1">
</td>
<td colspan="1">
</td>
<td colspan="1">
</td>
<td colspan="1">
</td>
</tr>
<tr data-row-no="14">
<td colspan="1">
<p class="heading-2"><strong>Transactions with owners of the Company:</strong></p>
</td>
<td colspan="1">
</td>
<td colspan="1">
</td>
<td colspan="1">
</td>
<td colspan="1">
</td>
<td colspan="1">
</td>
<td colspan="1">
</td>
<td colspan="1">
</td>
<td colspan="1">
</td>
<td colspan="1">
</td>
</tr>
<tr data-row-no="15">
<td colspan="1">
<p class="normal">Equity-settled share-based payments (<a href="#note-8">note 8</a>)</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">5,910</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right"><strong>5,910</strong></p>
</td>
</tr>
<tr data-row-no="16">
<td colspan="1">
<p class="normal">Transfer from share-based payment reserve to retained earnings</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts-bracket align-right">(2,504)</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">2,504</p>
</td>
<td colspan="1">
<p class="accounts align-right"><strong>-</strong></p>
</td>
</tr>
<tr data-row-no="17">
<td colspan="1">
<p class="normal">Vesting of share awards and options (<a href="#note-8">note 8</a>)</p>
</td>
<td colspan="1">
<p class="accounts align-right">6</p>
</td>
<td colspan="1">
<p class="accounts align-right">169</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right">-</p>
</td>
<td colspan="1">
<p class="accounts align-right"><strong> 175</strong></p>
</td>
</tr>
<tr data-row-no="18">
<td class="light-line" colspan="1">
<p class="normal">Dividends paid (<a href="#note-19">note 19</a>)</p>
</td>
<td class="light-line" colspan="1">
<p class="accounts align-right">-</p>
</td>
<td class="light-line" colspan="1">
<p class="accounts align-right">-</p>
</td>
<td class="light-line" colspan="1">
<p class="accounts align-right">-</p>
</td>
<td class="light-line" colspan="1">
<p class="accounts align-right">-</p>
</td>
<td class="light-line" colspan="1">
<p class="accounts align-right">-</p>
</td>
<td class="light-line" colspan="1">
<p class="accounts align-right">-</p>
</td>
<td class="light-line" colspan="1">
<p class="accounts align-right">-</p>
</td>
<td class="light-line" colspan="1">
<p class="accounts-bracket align-right">(8,939)</p>
</td>
<td class="light-line" colspan="1">
<p class="normal align-right"><strong>(8,939)</strong></p>
</td>
</tr>
<tr data-row-no="19">
<td class="light-line" colspan="1">
<p class="heading-2"><strong>Total transactions with owners of the Company</strong></p>
</td>
<td class="light-line" colspan="1">
<p class="accounts align-right"><strong>6</strong></p>
</td>
<td class="light-line" colspan="1">
<p class="accounts align-right"><strong>169</strong></p>
</td>
<td class="light-line" colspan="1">
<p class="accounts align-right"><strong>-</strong></p>
</td>
<td class="light-line" colspan="1">
<p class="accounts align-right"><strong>3,406</strong></p>
</td>
<td class="light-line" colspan="1">
<p class="accounts align-right"><strong>-</strong></p>
</td>
<td class="light-line" colspan="1">
<p class="accounts align-right"><strong>-</strong></p>
</td>
<td class="light-line" colspan="1">
<p class="accounts align-right"><strong>-</strong></p>
</td>
<td class="light-line" colspan="1">
<p class="normal align-right"><strong>(6,435)</strong></p>
</td>
<td class="light-line" colspan="1">
<p class="normal align-right"><strong>(2,854)</strong></p>
</td>
</tr>
<tr data-row-no="20">
<td class="heavy-line" colspan="1">
<p class="heading-2"><strong>At 31 December 2023</strong></p>
</td>
<td class="heavy-line" colspan="1">
<p class="accounts align-right"><strong>2,235</strong></p>
</td>
<td class="heavy-line" colspan="1">
<p class="accounts align-right"><strong>505,079</strong></p>
</td>
<td class="heavy-line" colspan="1">
<p class="accounts align-right"><strong>106,988</strong></p>
</td>
<td class="heavy-line" colspan="1">
<p class="accounts align-right"><strong>8,417</strong></p>
</td>
<td class="heavy-line" colspan="1">
<p class="accounts align-right"><strong>4,891</strong></p>
</td>
<td class="heavy-line" colspan="1">
<p class="accounts align-right"><strong>461,181</strong></p>
</td>
<td class="heavy-line" colspan="1">
<p class="normal align-right"><strong>(12,182)</strong></p>
</td>
<td class="heavy-line" colspan="1">
<p class="accounts align-right"><strong>316,328</strong></p>
</td>
<td class="heavy-line" colspan="1">
<p class="accounts align-right"><strong>1,392,937</strong></p>
</td>
</tr>
</tbody></table>
<p class="normal" id="el-8-3">Notes 1 to 31 are an integral part of these consolidated financial statements.</p>
