Financial Risk Management (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure of detailed information about financial instruments [abstract]

Summary of Number of Shares

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

	2022		2021		2020		2019		2018
	(Number)
Changes in share capital
At January 1		56,937,682		53,750,386		47,985,837		42,135,448		36,984,292
Increase through cash contributions		214,613		3,187,296		5,764,549		5,850,389		5,151,156
At December 31		57,152,295		56,937,682		53,750,386		47,985,837		42,135,448

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, 2021		—			—			—
Acquired from third parties		21			154,837			—
At December 31, 2021		21			154,837			0.3	%
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	%

Summary of Foreign Currency Sensitivity Analysis

			Hypothetical impact on consolidated financial statements
	Nominal positions (net)		Increase in foreign currency exchange rate			Profit and loss before tax		Equity before tax
	(EUR ‘000)
USD/EUR
December 31, 2022		60,581		10	%		6,058		6,058
December 31, 2021		549,243		10	%		54,924		54,924

Summary Of Rate Structure Of Marketable Securities

Rate structure of marketable securities are specified below:

	December 31, 2022				December 31, 2021
	Carrying amount		Fair value		Carrying amount		Fair value
	(EUR’000)
Marketable securities specified by rate structure
Fixed rate		205,825		203,543		323,176		322,556
Floating rate		11,787		11,773		17,975		17,968
Zero-coupon		80,568		80,527		2,207		2,207
Total marketable securities		298,180		295,843		343,358		342,731

Schedule Of Marketable Securities Specified By Investment Grade Credit Rating

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

	December 31, 2022				December 31, 2021
	Carrying amount		Fair value		Carrying amount		Fair value
	(EUR’000)
Marketable securities specified by investment grade credit rating
High grade		203,530		202,048		144,307		144,030
Upper medium grade		94,650		93,795		196,909		196,566
Lower medium grade		—		—		2,142		2,135
Total marketable securities		298,180		295,843		343,358		342,731

Summary of Marketable securities

	December 31, 2022				December 31, 2021
	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		99,337		98,075		95,408		95,211
Commercial papers		—		—		2,207		2,207
Corporate bonds		104,236		103,301		226,771		226,379
Agency bonds		15,521		15,424		18,972		18,934
Total marketable securities		298,180		295,843		343,358		342,731
Classified based on maturity profiles
Non-current assets		7,492		7,201		107,561		107,175
Current assets		290,688		288,642		235,797		235,556
Total marketable securities		298,180		295,843		343,358		342,731

Summary of Contractual Cashflows for Financial Liabilities

Contractual cashflows 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, 2022
Borrowings
Lease liabilities		13,996		53,821		60,946		128,763		109,191
Convertible senior notes		12,130		48,519		545,161		605,810		399,186
Total borrowings		26,126		102,340		606,107		734,573		508,377
Trade payables and accrued expenses		101,032		—		—		101,032		101,032
Total financial liabilities		127,158		102,340		606,107		835,605		609,409
Financial liabilities
December 31, 2021
Borrowings
Lease liabilities		7,098		51,442		68,378		126,918		104,961
Total borrowings		7,098		51,442		68,378		126,918		104,961
Trade payables and accrued expenses		59,417		—		—		59,417		59,417
Total financial liabilities		66,515		51,442		68,378		186,335		164,378