Document and Entity Information
Document and Entity Information | 6 Months Ended |
Jun. 30, 2022 | |
Document Information [Line Items] | |
Entity Registrant Name | Centogene N.V. |
Entity Central Index Key | 0001757097 |
Document Type | 6-K |
Document Period End Date | Jun. 30, 2022 |
Amendment Flag | false |
Current Fiscal Year End Date | --12-31 |
Document Fiscal Year Focus | 2022 |
Document Fiscal Period Focus | Q2 |
Unaudited consolidated statemen
Unaudited consolidated statements of comprehensive loss € in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 EUR (€) € / shares | Jun. 30, 2021 EUR (€) € / shares | Jun. 30, 2022 EUR (€) € / shares | Jun. 30, 2021 EUR (€) € / shares | |
Unaudited consolidated statements of comprehensive loss | ||||
Revenue | € 11,198 | € 9,209 | € 21,389 | € 19,002 |
Cost of sales | 6,586 | 6,617 | 13,036 | 12,825 |
Gross profit | 4,612 | 2,592 | 8,353 | 6,177 |
Research and development expenses | 4,457 | 4,053 | 9,071 | 8,388 |
General administrative expenses | 9,378 | 10,494 | 17,284 | 22,090 |
Selling expenses | 2,798 | 1,942 | 5,192 | 3,891 |
Impairment of financial assets | 544 | 615 | ||
Gain on reversal of financial asset impairment | 1,035 | 919 | ||
Other operating income | 657 | 1,276 | 1,390 | 1,642 |
Other operating expenses | 506 | 2 | 507 | 36 |
Operating loss | (10,835) | (13,167) | (21,392) | (27,201) |
Changes in fair value of warrants | 1,401 | 1,639 | ||
Interest and similar income | 1 | |||
Interest and similar expense | 2,278 | 175 | 3,137 | 434 |
Financial costs, net | (877) | (175) | (1,497) | (434) |
Loss before taxes from continuing operations | (11,712) | (13,342) | (22,889) | (27,635) |
Income tax expenses | 175 | 124 | 179 | 124 |
Loss for the period from continuing operations | (11,887) | (13,466) | (23,068) | (27,759) |
Net income from discontinued operations, net of tax | 1,539 | 5,110 | 6,140 | 14,338 |
Loss for the period | (10,348) | (8,356) | (16,928) | (13,421) |
Other comprehensive income/(loss), all attributable to equity holders of the parent | (71) | (191) | 23 | (70) |
Total comprehensive loss | (10,419) | (8,547) | (16,905) | (13,491) |
Attributable to: | ||||
Equity holders of the parent | (10,145) | (8,559) | (13,537) | |
Non-controlling interests from continuing operations | (16,658) | |||
Non-controlling interests from discontinued operations | (274) | 12 | (247) | 46 |
Total comprehensive loss | € (10,419) | € (8,547) | € (16,905) | € (13,491) |
Net loss per share - Continuing operations - Basic (in EUR) | € / shares | € (0.44) | € (0.61) | € (0.88) | € (1.24) |
Net loss per share - Continuing operations - Diluted (in EUR) | € / shares | (0.44) | (0.61) | (0.88) | (1.24) |
Net loss per share - Loss attributable to parent - Basic (in EUR) | € / shares | (0.38) | (0.38) | (0.64) | (0.60) |
Net loss per share - Loss attributable to parent - Diluted (in EUR) | € / shares | € (0.38) | € (0.38) | € (0.64) | € (0.60) |
Unaudited consolidated statem_2
Unaudited consolidated statements of financial position € in Thousands, $ in Thousands | Jun. 30, 2022 EUR (€) | Dec. 31, 2021 EUR (€) | Jan. 01, 2021 EUR (€) |
Non-current assets | |||
Intangible assets | € 7,576 | € 9,194 | € 12,407 |
Property, plant and equipment* | 7,217 | 9,464 | 16,590 |
Right-of-use assets | 17,059 | 18,904 | 22,120 |
Other assets | 2,972 | 2,972 | 1,967 |
Non-current assets | 34,824 | 40,534 | 53,084 |
Current assets | |||
Inventories | 2,154 | 3,869 | 11,405 |
Trade receivables and contract assets* | 15,716 | 23,646 | 29,250 |
Other assets | 3,954 | 5,453 | 8,286 |
Cash and cash equivalents | 33,515 | 17,818 | 48,156 |
Current assets | 55,339 | 50,786 | 97,097 |
Assets | 90,163 | 91,320 | 150,181 |
Equity | |||
Issued capital | 3,250 | 2,708 | 2,654 |
Capital reserve | 144,027 | 133,897 | 125,916 |
Accumulated deficit and other reserves* | (126,171) | (109,414) | (63,477) |
Non-controlling interests | (54) | 193 | 95 |
Equity | 21,052 | 27,384 | 65,188 |
Non-current liabilities | |||
Non-current loans | 23,632 | 401 | |
Lease liabilities* | 13,770 | 15,394 | 17,677 |
Deferred tax liabilities | 49 | 79 | 207 |
Government grants | 7,305 | 8,028 | 8,950 |
Other liabilities* | 1,018 | 640 | |
Warrants liability | 1,194 | ||
Non-current liabilities | 45,950 | 24,519 | 27,875 |
Current liabilities | |||
Government grants | 1,351 | 1,368 | 1,342 |
Current loans | 1,730 | 3,815 | 2,492 |
Lease liabilities* | 2,713 | 3,330 | 3,528 |
Trade payables | 4,757 | 11,252 | 31,736 |
Liabilities from income taxes | 124 | 178 | 58 |
Other liabilities* | 12,486 | 19,474 | 17,962 |
Current liabilities | 23,161 | 39,417 | 57,118 |
Equity and liabilities | € 90,163 | € 91,320 | € 150,181 |
Unaudited consolidated statem_3
Unaudited consolidated statements of cash flows - EUR (€) € in Thousands | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Operating activities | ||
Loss before taxes from continuing operations | € (22,889) | € (27,635) |
Income before taxes from discontinued operations | 6,153 | 14,338 |
Loss before taxes | (16,736) | (13,297) |
Adjustments to reconcile loss to cash flow from operating activities | ||
Amortization and depreciation | 5,958 | 6,670 |
Interest income | (1) | |
Interest expense | 3,137 | 471 |
Expected credit loss allowances on trade receivables and contract assets | 675 | |
Gain on revaluation of credit loss allowance on trade receivables and contract assets | (919) | |
Gain on disposal of property, plant and equipment | (683) | |
Share-based payment (true up)/ expenses | (1,386) | 4,276 |
Fair value adjustments of warrants | (1,639) | |
Tax expense | 192 | 124 |
Other non-cash items | (580) | 126 |
Changes in operating assets and liabilities | ||
Inventories | 1,715 | 2,124 |
Trade receivables and contract assets | 8,849 | 10,370 |
Other assets | 1,499 | 328 |
Trade payables | (6,495) | (17,722) |
Other liabilities | (8,060) | (1,975) |
Thereof cash flow (used in) continuing operating activities | (22,504) | (16,603) |
Thereof cash flow from discontinued operating activities | 7,355 | 8,773 |
Net cash flow (used in) operating activities | (15,149) | (7,830) |
Investing activities | ||
Cash paid for investments in intangible assets | (151) | (2,089) |
Cash paid for investments in property, plant and equipment | (843) | (2,696) |
Cash received for disposal of property, plant and equipment | 779 | |
Thereof cash flow (used in) continuing investing activities | (994) | (2,397) |
Thereof cash flow from/(used in) discontinued investing activities | 779 | (2,388) |
Cash flow received/ (used in) investing activities | (215) | (4,785) |
Financing activities | ||
Cash received from issuance of shares | 12,058 | |
Cash received from issuance of warrants | 2,833 | |
Cash received from loans | 21,695 | 1,769 |
Cash repayments of loans | (148) | (185) |
Cash repayments of lease liabilities | (2,241) | (2,263) |
Interest paid | (3,137) | (82) |
Thereof net cash flow from/(used in) continuing financing activities | 31,542 | (404) |
Thereof net cash flow (used in) discontinued financing activities | (481) | (357) |
Net cash flow from/ (used in) financing activities | 31,061 | (761) |
Changes in cash and cash equivalents | 15,697 | (13,376) |
Cash and cash equivalents at the beginning of the period | 17,818 | 48,156 |
Cash and cash equivalents at the end of the period | € 33,515 | € 34,780 |
Segment information
Segment information | 6 Months Ended |
Jun. 30, 2022 | |
Segment information | |
Segment information | 1 Segment information in EUR k For the three months ended June 30, 2022 Pharmaceutical Diagnostics Corporate Total Total Revenues from contracts with external customers 3,653 7,545 — 11,198 Adjusted EBITDA 1,472 2,005 (9,413) (5,936) Capital Expenditures Additions to property, plant and equipment and right-of-use assets 12 713 34 759 Additions to intangible assets 70 — 37 107 Other segment information Depreciation and amortization 124 512 1,513 2,149 Research and development expenses — — 4,457 4,457 in EUR k For the three months ended June 30, 2021 Pharmaceutical Diagnostics* Corporate Total Total Revenues from contracts with external customers 2,831 6,378 — 9,209 Adjusted EBITDA 647 278 (9,543) (8,618) Capital Expenditures Additions to property, plant and equipment and right-of-use assets 3 — 105 108 Additions to intangible assets 241 — 522 763 Other segment information Depreciation and amortization 410 412 1,493 2,315 Research and development expenses — — 4,053 4,053 For the six months ended June 30, 2022 in EUR k Pharmaceutical Diagnostics Corporate Total Total Revenues from contracts with external customers 6,888 14,501 — 21,389 Adjusted EBITDA 2,571 2,719 (21,377) (16,087) Capital Expenditures Additions to property, plant and equipment and right-of-use assets 12 713 113 838 Additions to intangible assets 99 — 52 151 Other segment information Depreciation and amortization 251 953 3,308 4,512 Research and development expenses — — 9,071 9,071 For the six months ended June 30, 2021 in EUR k Pharmaceutical Diagnostics* Corporate Total Total Revenues from contracts with external customers 6,429 12,573 — 19,002 Adjusted EBITDA 2,144 1,168 (21,563) (18,251) Capital Expenditures Additions to property, plant and equipment and right-of-use assets 9 234 419 662 Additions to intangible assets 563 — 1,172 1,735 Other segment information Depreciation and amortization 824 818 3,032 4,674 Research and development expenses — — 8,388 8,388 For the year ended December 31, 2021 in EUR k Pharmaceutical Diagnostics* COVID-19* Corporate Total Total Revenues from contracts with external customers 15,641 26,697 146,334 — 188,672 Adjusted EBITDA 4,843 2,952 20,903 (46,247) (17,549) Capital Expenditures Additions to property, plant and equipment and right-of-use assets 690 261 2,480 936 4,367 Additions to intangible assets 2,401 — 386 — 2,787 Other segment information Depreciation and amortization 2,076 2,539 9,511 5,848 19,974 Research and development expenses — — — 19,297 19,297 * Total Revenues from contracts with external customers have been revised for the second quarter and first half of 2021 and for the year ended December 31, 2021. Refer to Note 2 – Revision of previously issued financial statements. Adjusted EBITDA Adjustments to income/ loss include non-cash charges in relation to depreciation, amortization (including impairments), one-off costs (as defined below), share-based payments as well as net financial costs and income taxes. Certain costs, and related income, are not allocated to the reporting segment results and represent the residual operating activities of the Group reported as ‘Corporate’. These costs include general financing costs and corporate overheads related to, centralized functions such as communications, information technology, facilities, legal, finance and accounting, insurance (D&O), human resources, business development and strategic initiatives, certain professional and consulting services, procurement, research and development and other supporting activities. “One-off costs” are related to the costs incurred for the process of obtaining the equity and debt financing which were not directly attributable to the Oxford Loan or issuance of shares. One-off costs primarily include legal and consulting fees. These costs were disclosed under corporate expenses for the first quarter of 2022. Management reassessed and classified the one-off costs as an adjustment item for the first half of 2022. Decreases in corporate expenses for the second quarter and first half of 2022 are mainly due to decreases in personnel costs and implementation of cost saving measures. Reconciliation of segment Adjusted EBITDA to Group loss before taxes from continuing operations For the three months ended June 30 in EUR k 2022 2021* Reported segment Adjusted EBITDA 3,477 925 Corporate expenses (9,413) (9,543) (5,936) (8,618) Share-based payment income/(expenses) (571) (2,234) Depreciation and amortization (2,149) (2,315) One-off costs (2,179) — Operating loss from continuing operations (10,835) (13,167) Financial costs, net (877) (175) Income tax expenses (175) (124) Loss before taxes from continuing operations for the three months ended June 30 (11,887) (13,466) For the six months ended June 30 in EUR k 2022 2021* Reported segment Adjusted EBITDA 5,290 3,312 Corporate expenses (21,377) (21,563) (16,087) (18,251) Share-based payment income/(expenses) 1,386 (4,276) Depreciation and amortization (4,512) (4,674) One-off costs (2,179) — Operating loss from continuing operations (21,392) (27,201) Financial costs, net (1,497) (434) Income tax expenses (179) (124) Loss before taxes from continuing operations for the six months ended June 30 (23,068) (27,759) Reconciliation of segment Adjusted EBITDA to Group loss for the period in EUR k 2021* 2020* 2019* Reported segment Adjusted EBITDA 28,697 40,655 17,020 Corporate expenses (46,247) (39,918) (22,949) (17,550) 737 (5,929) Share-based payment income/(expenses) (8,035) (5,658) (6,418) Depreciation and amortization (19,974) (15,128) (6,579) Operating loss (45,559) (20,049) (18,926) Financial costs, net (848) (1,394) (2,013) Income tax expenses 24 (281) (158) Loss for the year (46,383) (21,724) (21,097) * Reported segment Adjusted EBITDA has been revised for the second quarter and first half of 2021 and for the years ended December 31, 2021, 2020 and 2019. Refer to Note 2 – Revision of previously issued financial statements. Non-current asset locations Non-current assets of the Group consist of right-of-use assets (under IFRS 16), property, plant and equipment, as well as intangible assets. All of such assets are located in Germany, which is the country of the business address of Centogene GmbH, except for property, plant and equipment of EUR 115k (December 31, 2021: EUR 147k) and right-of-use assets of EUR Nil (December 31, 2021: EUR 137k), which are located in the United States. |
Revision of previously issued f
Revision of previously issued financial statements | 6 Months Ended |
Jun. 30, 2022 | |
Revision of previously issued financial statements | |
Revision of previously issued financial statements | 2 Revision of previously issued financial statements During the preparation of unaudited condensed consolidated financial statements as of and for the three months ended March 31, 2022, the Group identified unadjusted differences related to certain property, plant and equipment and lease liabilities balances on the consolidated statement of financial position and cost of sales and other operating income amounts in the statements of comprehensive loss as of and for the year ended December 31, 2021. During the preparation of the unaudited financial results for the second quarter ended June 30, 2022, the Group identified unadjusted differences related to revenue recognized and impairment losses for the years ended December 31, 2021, December 31, 2020 and December 31, 2019 and trade receivables outstanding as of December 31, 2021, 2020 and 2019 for the Diagnostics segment. The Group assessed the materiality of these unadjusted differences on the previously issued consolidated financial statements and concluded that the errors were not material to any period presented. The Group revised the amounts presented for certain property, plant and equipment, lease liabilities, trade receivables and other liabilities balances on the consolidated statement of financial position and revenue, cost of sales, impairment of financial assets and other operating income amounts in the statements of comprehensive loss for the previous periods. The impact of the revision on the previously issued financial statements is disclosed below. The impact of the revisions on the consolidated statements of financial position as of March 31, 2022 and 2021, are as follows: in EUR k March 31 2022 (as previously reported) March 31 2022 (revised) March 31 2021 (as previously reported) March 31 2021 (revised) Non ‑ current assets 36,801 36,801 54,116 54,116 Trade receivables and contract assets 21,125 20,380 28,604 28,520 Current assets 71,301 70,556 91,318 91,234 Total Assets 108,102 107,357 145,434 145,350 Equity and liabilities Retained earnings and other reserves (114,120) (115,927) (67,691) (68,455) Equity 32,806 30,999 63,051 62,287 Other liabilities - - - 680 Non ‑ current liabilities 46,598 46,598 26,050 26,730 Other liabilities 14,559 15,621 22,591 22,591 Current liabilities 28,698 29,760 56,333 56,333 Total Equity and Liabilities 108,102 107,357 145,434 145,350 The impact of the revisions on the consolidated statements of comprehensive income for the three months ended March 31, 2022 and 2021 are as follows: in EUR k For the three months ended March 31 2022 (as previously reported) For the three months ended March 31 2022 (as revised) For the three months ended March 31 2021 (as previously reported) For the three months ended March 31 2021 (revised) Revenue 10,327 10,191 9,981 9,793 Cost of sales 6,450 6,450 6,208 6,208 Gross profit 3,877 3,741 3,773 3,585 Research and development expenses 4,614 4,614 4,335 4,335 General administrative expenses 7,906 7,906 11,596 11,596 Selling expenses 2,394 2,394 1,949 1,949 Impairment of financial assets 154 116 95 71 Other operating income 733 733 366 366 Other operating expenses 1 1 34 34 Operating loss (10,459) (10,557) (13,870) (14,034) Loss for the period from continuing operations (11,083) (11,180) (14,129) (14,293) Net income from discontinued operations, net of tax 4,601 4,601 9,240 9,227 Loss for the period (6,482) (6,579) (4,889) (5,066) Total comprehensive loss (6,388) (6,485) (4,768) (4,945) Loss per share- Basic and diluted (in EUR) (0.28) (0.28) (0.22) (0.23) The impact of the revisions on the consolidated statements of financial position as of June 30, 2021 are as follows: in EUR k June 30, 2021 (as previously reported) June 30, 2021 (as revised) Non ‑ current assets 52,171 52,171 Trade receivables and contract assets 18,490 18,204 Current assets 68,615 68,329 Total Assets 120,786 120,500 Equity and liabilities Retained earnings and other reserves (75,913) (77,015) Equity 57,074 55,972 Other liabilities - 816 Non ‑ current liabilities 25,295 26,111 Current liabilities 38,417 38,417 Total Equity and Liabilities 120,786 120,500 The impact of the revisions on the consolidated statements of comprehensive income for the three and six months ended June 30, 2021 are as follows: in EUR k For the three months ended June 30, 2021 (as previously reported - including Discontinued Operations) For the three months ended June 30, 2021 (as revised) For the six months ended June 30, 2021 (as previously reported - including Discontinued Operations) For the six months ended June 30, 2021 (as revised) Revenue 9,546 9,209 19,527 19,002 Cost of sales 6,617 6,617 12,825 12,825 Gross profit 2,929 2,592 6,702 6,177 Research and development expenses 4,053 4,053 8,388 8,388 General administrative expenses 10,494 10,494 22,090 22,090 Selling expenses 1,942 1,942 3,891 3,891 Impairment of financial assets 580 544 675 615 Other operating income 1,276 1,276 1,642 1,642 Other operating expenses 2 2 36 36 Operating loss (12,866) (13,167) (26,736) (27,201) Loss for the period from continuing operations (13,165) (13,466) (27,294) (27,759) Net income from discontinued operations, net of tax 5,145 5,110 14,385 14,338 Loss for the period (8,020) (8,356) (12,909) (13,421) Total comprehensive loss (8,211) (8,547) (12,979) (13,491) Net loss per share- Basic and diluted (in EUR) (0.37) (0.38) (0.58) (0.60) The impact of the revisions on the consolidated statements of financial position as of September 30, 2021 are as follows: in EUR k September 30, 2021 (as previously reported) September 30, 2021 (as revised) Non ‑ current assets 45,781 45,781 Trade receivables and contract assets 13,907 13,444 Current assets 50,409 49,946 Total Assets 96,190 95,727 Equity and liabilities Retained earnings and other reserves (97,523) (98,925) Equity 37,376 35,974 Other liabilities - 939 Non ‑ current liabilities 24,136 25,075 Current liabilities 34,678 34,678 Total Equity and Liabilities 96,190 95,727 The impact of the revisions on the consolidated statements of comprehensive income for the three and nine months ended September 30, 2021 are as follows: in EUR k For the three months ended September 30, 2021 (as previously reported - including Discontinued Operations) For the three months ended September 30, 2021 (as revised) For the nine months ended September 30, 2021 (as previously reported - including Discontinued Operations) For the nine months ended September 30, 2021 (as revised) Revenue 9,993 9,661 29,520 28,663 Cost of sales 6,828 6,828 19,653 19,653 Gross profit 3,165 2,833 9,867 9,010 Research and development expenses 3,821 3,821 12,209 12,209 General administrative expenses 10,406 10,406 32,496 32,496 Selling expenses 2,206 2,206 6,097 6,097 Impairment of financial assets 502 471 1,177 1,086 Other operating income 1,011 1,011 2,653 2,653 Other operating expenses - - 36 36 Operating loss (12,759) (13,060) (39,495) (40,261) Loss for the period from continuing operations (13,057) (13,358) (40,351) (41,117) Net income from discontinued operations, net of tax (8,587) (8,587) 5,798 5,751 Loss for the period (21,644) (21,945) (34,553) (35,366) Total comprehensive loss (21,558) (21,859) (34,537) (35,350) Net loss per share- Basic and diluted (in EUR) (0.96) (0.97) (1.55) (1.58) The impact of the revisions on the consolidated statements of financial position as of December 31, 2021, 2020 and 2019, are as follows: in EUR k Dec 31, 2021 (as previously reported) Dec 31, 2021 (as revised) Dec 31, 2020 (as previously reported) Dec 31, 2020 (as revised) Dec 31, 2019 (as previously reported) Dec 31, 2019 (as revised) Non ‑ current assets 40,534 40,534 53,084 53,084 49,401 49,401 Trade receivables and contract assets 24,337 23,646 29,199 29,250 16,593 16,554 Current assets 51,477 50,786 97,046 97,097 68,109 68,070 Total Assets 92,011 91,320 150,130 150,181 117,510 117,471 Equity and liabilities Issued capital 2,708 2,708 2,654 2,654 2,383 2,383 Capital reserve 133,897 133,897 125,916 125,916 98,099 98,099 Retained earnings and other reserves (107,705) (109,414) (62,888) (63,477) (40,622) (40,865) Non‑controlling interests 193 193 95 95 (938) (938) Equity 29,093 27,384 65,777 65,188 58,922 58,679 Other liabilities - 1,018 - 640 - 204 Non ‑ current liabilities 23,501 24,519 27,235 27,875 29,588 29,792 Current liabilities 39,417 39,417 57,118 57,118 29,000 29,000 Total Equity and Liabilities 92,011 91,320 150,130 150,181 117,510 117,471 The impact of the revisions on the consolidated statements of comprehensive income for the years ended December 31, 2021, 2020, and 2019 are as follows: in EUR k Dec 31, 2021 (as previously reported) Dec 31, 2021 (as revised) Dec 31, 2020 (as previously reported) Dec 31, 2020 (as revised) Dec 31, 2019 (as previously reported) Dec 31, 2019 (as revised) Revenue 189,923 188,672 128,381 127,679 48,780 48,538 Cost of sales 160,448 160,448 83,437 83,437 26,005 26,005 Gross profit 29,475 28,224 44,944 44,242 22,775 22,533 Research and development expenses 19,297 19,297 14,935 14,935 9,590 9,590 General administrative expenses 46,739 46,739 40,160 40,160 23,160 23,160 Selling expenses 9,860 9,860 8,026 8,026 9,254 9,254 Impairment of financial assets 1,140 1,009 3,738 3,382 752 752 Other operating income 3,209 3,209 2,394 2,394 3,781 3,781 Other operating expenses 86 86 182 182 1,284 1,284 Real estate transfer tax expenses - - - - 1,200 1,200 Operating loss (44,438) (45,558) (19,703) (20,049) (18,684) (18,926) Loss for the year (45,262) (46,382) (21,378) (21,724) (20,855) (21,097) Total comprehensive loss (44,719) (45,839) (21,426) (21,772) (20,839) (21,081) Loss per share- Basic and diluted (in EUR) (1.98) (2.04) (1.02) (1.04) (1.27) (1.28) The revisions above have no impact on the changes in cash, cash equivalents and net cash flows in operating, investing, and financing activities within the consolidated statements of cash flows for all periods presented. However, the revision will result in cash outflows in the amount of € 910 thousand subsequent to the release date of this financial information. The impact of the revisions on the consolidated statements of cash flows as of June 30, 2021 are as follows: For the six months ended June 30 2021 2021 (Revised) Operating activities Loss before taxes from continuing operations (27,170) (27,635) Income before taxes from discontinued operations 14,385 14,338 Loss before taxes (12,785) (13,297) Adjustments to reconcile loss to cash flow from operating activities Amortization and depreciation 6,670 6,670 Interest expense 471 471 Expected credit loss allowances on trade receivables and contract assets 675 675 Gain on revaluation of credit loss allowance on trade receivables and contract assets — — Gain on disposal of property, plant and equipment — — Share‑based payment (true up)/ expenses 4,276 4,276 Tax expense 124 124 Other non‑cash items 126 126 Changes in operating assets and liabilities Inventories 2,124 2,124 Trade receivables and contract assets 10,034 10,370 Other assets 328 328 Trade payables (17,722) (17,722) Other liabilities (2,151) (1,975) Thereof cash flow (used in) continuing operating activities (16,650) (16,603) Thereof cash flow from discontinued operating activities 8,820 8,773 Net cash flow (used in) operating activities (7,830) (7,830) Investing activities Cash flow received/ (used in) investing activities (4,785) (4,785) Financing activities Net cash flow from/ (used in) financing activities (761) (761) Changes in cash and cash equivalents (13,376) (13,376) Cash and cash equivalents at the beginning of the period 48,156 48,156 Cash and cash equivalents at the end of the period 34,780 34,780 |
Segment information (Tables)
Segment information (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Segment information | |
Schedule of reconciliation of segment Adjusted EBITDA to Group loss before taxes from continuing operations | in EUR k For the three months ended June 30, 2022 Pharmaceutical Diagnostics Corporate Total Total Revenues from contracts with external customers 3,653 7,545 — 11,198 Adjusted EBITDA 1,472 2,005 (9,413) (5,936) Capital Expenditures Additions to property, plant and equipment and right-of-use assets 12 713 34 759 Additions to intangible assets 70 — 37 107 Other segment information Depreciation and amortization 124 512 1,513 2,149 Research and development expenses — — 4,457 4,457 in EUR k For the three months ended June 30, 2021 Pharmaceutical Diagnostics* Corporate Total Total Revenues from contracts with external customers 2,831 6,378 — 9,209 Adjusted EBITDA 647 278 (9,543) (8,618) Capital Expenditures Additions to property, plant and equipment and right-of-use assets 3 — 105 108 Additions to intangible assets 241 — 522 763 Other segment information Depreciation and amortization 410 412 1,493 2,315 Research and development expenses — — 4,053 4,053 For the six months ended June 30, 2022 in EUR k Pharmaceutical Diagnostics Corporate Total Total Revenues from contracts with external customers 6,888 14,501 — 21,389 Adjusted EBITDA 2,571 2,719 (21,377) (16,087) Capital Expenditures Additions to property, plant and equipment and right-of-use assets 12 713 113 838 Additions to intangible assets 99 — 52 151 Other segment information Depreciation and amortization 251 953 3,308 4,512 Research and development expenses — — 9,071 9,071 For the six months ended June 30, 2021 in EUR k Pharmaceutical Diagnostics* Corporate Total Total Revenues from contracts with external customers 6,429 12,573 — 19,002 Adjusted EBITDA 2,144 1,168 (21,563) (18,251) Capital Expenditures Additions to property, plant and equipment and right-of-use assets 9 234 419 662 Additions to intangible assets 563 — 1,172 1,735 Other segment information Depreciation and amortization 824 818 3,032 4,674 Research and development expenses — — 8,388 8,388 For the year ended December 31, 2021 in EUR k Pharmaceutical Diagnostics* COVID-19* Corporate Total Total Revenues from contracts with external customers 15,641 26,697 146,334 — 188,672 Adjusted EBITDA 4,843 2,952 20,903 (46,247) (17,549) Capital Expenditures Additions to property, plant and equipment and right-of-use assets 690 261 2,480 936 4,367 Additions to intangible assets 2,401 — 386 — 2,787 Other segment information Depreciation and amortization 2,076 2,539 9,511 5,848 19,974 Research and development expenses — — — 19,297 19,297 * Total Revenues from contracts with external customers have been revised for the second quarter and first half of 2021 and for the year ended December 31, 2021. Refer to Note 2 – Revision of previously issued financial statements. Reconciliation of segment Adjusted EBITDA to Group loss before taxes from continuing operations For the three months ended June 30 in EUR k 2022 2021* Reported segment Adjusted EBITDA 3,477 925 Corporate expenses (9,413) (9,543) (5,936) (8,618) Share-based payment income/(expenses) (571) (2,234) Depreciation and amortization (2,149) (2,315) One-off costs (2,179) — Operating loss from continuing operations (10,835) (13,167) Financial costs, net (877) (175) Income tax expenses (175) (124) Loss before taxes from continuing operations for the three months ended June 30 (11,887) (13,466) For the six months ended June 30 in EUR k 2022 2021* Reported segment Adjusted EBITDA 5,290 3,312 Corporate expenses (21,377) (21,563) (16,087) (18,251) Share-based payment income/(expenses) 1,386 (4,276) Depreciation and amortization (4,512) (4,674) One-off costs (2,179) — Operating loss from continuing operations (21,392) (27,201) Financial costs, net (1,497) (434) Income tax expenses (179) (124) Loss before taxes from continuing operations for the six months ended June 30 (23,068) (27,759) Reconciliation of segment Adjusted EBITDA to Group loss for the period in EUR k 2021* 2020* 2019* Reported segment Adjusted EBITDA 28,697 40,655 17,020 Corporate expenses (46,247) (39,918) (22,949) (17,550) 737 (5,929) Share-based payment income/(expenses) (8,035) (5,658) (6,418) Depreciation and amortization (19,974) (15,128) (6,579) Operating loss (45,559) (20,049) (18,926) Financial costs, net (848) (1,394) (2,013) Income tax expenses 24 (281) (158) Loss for the year (46,383) (21,724) (21,097) * Reported segment Adjusted EBITDA has been revised for the second quarter and first half of 2021 and for the years ended December 31, 2021, 2020 and 2019. Refer to Note 2 – Revision of previously issued financial statements. |
Revision of previously issued_2
Revision of previously issued financial statements (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Revision of previously issued financial statements | |
Schedule of changes in presentation of items in the financial statements | The impact of the revisions on the consolidated statements of financial position as of March 31, 2022 and 2021, are as follows: in EUR k March 31 2022 (as previously reported) March 31 2022 (revised) March 31 2021 (as previously reported) March 31 2021 (revised) Non ‑ current assets 36,801 36,801 54,116 54,116 Trade receivables and contract assets 21,125 20,380 28,604 28,520 Current assets 71,301 70,556 91,318 91,234 Total Assets 108,102 107,357 145,434 145,350 Equity and liabilities Retained earnings and other reserves (114,120) (115,927) (67,691) (68,455) Equity 32,806 30,999 63,051 62,287 Other liabilities - - - 680 Non ‑ current liabilities 46,598 46,598 26,050 26,730 Other liabilities 14,559 15,621 22,591 22,591 Current liabilities 28,698 29,760 56,333 56,333 Total Equity and Liabilities 108,102 107,357 145,434 145,350 The impact of the revisions on the consolidated statements of comprehensive income for the three months ended March 31, 2022 and 2021 are as follows: in EUR k For the three months ended March 31 2022 (as previously reported) For the three months ended March 31 2022 (as revised) For the three months ended March 31 2021 (as previously reported) For the three months ended March 31 2021 (revised) Revenue 10,327 10,191 9,981 9,793 Cost of sales 6,450 6,450 6,208 6,208 Gross profit 3,877 3,741 3,773 3,585 Research and development expenses 4,614 4,614 4,335 4,335 General administrative expenses 7,906 7,906 11,596 11,596 Selling expenses 2,394 2,394 1,949 1,949 Impairment of financial assets 154 116 95 71 Other operating income 733 733 366 366 Other operating expenses 1 1 34 34 Operating loss (10,459) (10,557) (13,870) (14,034) Loss for the period from continuing operations (11,083) (11,180) (14,129) (14,293) Net income from discontinued operations, net of tax 4,601 4,601 9,240 9,227 Loss for the period (6,482) (6,579) (4,889) (5,066) Total comprehensive loss (6,388) (6,485) (4,768) (4,945) Loss per share- Basic and diluted (in EUR) (0.28) (0.28) (0.22) (0.23) The impact of the revisions on the consolidated statements of financial position as of June 30, 2021 are as follows: in EUR k June 30, 2021 (as previously reported) June 30, 2021 (as revised) Non ‑ current assets 52,171 52,171 Trade receivables and contract assets 18,490 18,204 Current assets 68,615 68,329 Total Assets 120,786 120,500 Equity and liabilities Retained earnings and other reserves (75,913) (77,015) Equity 57,074 55,972 Other liabilities - 816 Non ‑ current liabilities 25,295 26,111 Current liabilities 38,417 38,417 Total Equity and Liabilities 120,786 120,500 The impact of the revisions on the consolidated statements of comprehensive income for the three and six months ended June 30, 2021 are as follows: in EUR k For the three months ended June 30, 2021 (as previously reported - including Discontinued Operations) For the three months ended June 30, 2021 (as revised) For the six months ended June 30, 2021 (as previously reported - including Discontinued Operations) For the six months ended June 30, 2021 (as revised) Revenue 9,546 9,209 19,527 19,002 Cost of sales 6,617 6,617 12,825 12,825 Gross profit 2,929 2,592 6,702 6,177 Research and development expenses 4,053 4,053 8,388 8,388 General administrative expenses 10,494 10,494 22,090 22,090 Selling expenses 1,942 1,942 3,891 3,891 Impairment of financial assets 580 544 675 615 Other operating income 1,276 1,276 1,642 1,642 Other operating expenses 2 2 36 36 Operating loss (12,866) (13,167) (26,736) (27,201) Loss for the period from continuing operations (13,165) (13,466) (27,294) (27,759) Net income from discontinued operations, net of tax 5,145 5,110 14,385 14,338 Loss for the period (8,020) (8,356) (12,909) (13,421) Total comprehensive loss (8,211) (8,547) (12,979) (13,491) Net loss per share- Basic and diluted (in EUR) (0.37) (0.38) (0.58) (0.60) The impact of the revisions on the consolidated statements of financial position as of September 30, 2021 are as follows: in EUR k September 30, 2021 (as previously reported) September 30, 2021 (as revised) Non ‑ current assets 45,781 45,781 Trade receivables and contract assets 13,907 13,444 Current assets 50,409 49,946 Total Assets 96,190 95,727 Equity and liabilities Retained earnings and other reserves (97,523) (98,925) Equity 37,376 35,974 Other liabilities - 939 Non ‑ current liabilities 24,136 25,075 Current liabilities 34,678 34,678 Total Equity and Liabilities 96,190 95,727 The impact of the revisions on the consolidated statements of comprehensive income for the three and nine months ended September 30, 2021 are as follows: in EUR k For the three months ended September 30, 2021 (as previously reported - including Discontinued Operations) For the three months ended September 30, 2021 (as revised) For the nine months ended September 30, 2021 (as previously reported - including Discontinued Operations) For the nine months ended September 30, 2021 (as revised) Revenue 9,993 9,661 29,520 28,663 Cost of sales 6,828 6,828 19,653 19,653 Gross profit 3,165 2,833 9,867 9,010 Research and development expenses 3,821 3,821 12,209 12,209 General administrative expenses 10,406 10,406 32,496 32,496 Selling expenses 2,206 2,206 6,097 6,097 Impairment of financial assets 502 471 1,177 1,086 Other operating income 1,011 1,011 2,653 2,653 Other operating expenses - - 36 36 Operating loss (12,759) (13,060) (39,495) (40,261) Loss for the period from continuing operations (13,057) (13,358) (40,351) (41,117) Net income from discontinued operations, net of tax (8,587) (8,587) 5,798 5,751 Loss for the period (21,644) (21,945) (34,553) (35,366) Total comprehensive loss (21,558) (21,859) (34,537) (35,350) Net loss per share- Basic and diluted (in EUR) (0.96) (0.97) (1.55) (1.58) The impact of the revisions on the consolidated statements of financial position as of December 31, 2021, 2020 and 2019, are as follows: in EUR k Dec 31, 2021 (as previously reported) Dec 31, 2021 (as revised) Dec 31, 2020 (as previously reported) Dec 31, 2020 (as revised) Dec 31, 2019 (as previously reported) Dec 31, 2019 (as revised) Non ‑ current assets 40,534 40,534 53,084 53,084 49,401 49,401 Trade receivables and contract assets 24,337 23,646 29,199 29,250 16,593 16,554 Current assets 51,477 50,786 97,046 97,097 68,109 68,070 Total Assets 92,011 91,320 150,130 150,181 117,510 117,471 Equity and liabilities Issued capital 2,708 2,708 2,654 2,654 2,383 2,383 Capital reserve 133,897 133,897 125,916 125,916 98,099 98,099 Retained earnings and other reserves (107,705) (109,414) (62,888) (63,477) (40,622) (40,865) Non‑controlling interests 193 193 95 95 (938) (938) Equity 29,093 27,384 65,777 65,188 58,922 58,679 Other liabilities - 1,018 - 640 - 204 Non ‑ current liabilities 23,501 24,519 27,235 27,875 29,588 29,792 Current liabilities 39,417 39,417 57,118 57,118 29,000 29,000 Total Equity and Liabilities 92,011 91,320 150,130 150,181 117,510 117,471 The impact of the revisions on the consolidated statements of comprehensive income for the years ended December 31, 2021, 2020, and 2019 are as follows: in EUR k Dec 31, 2021 (as previously reported) Dec 31, 2021 (as revised) Dec 31, 2020 (as previously reported) Dec 31, 2020 (as revised) Dec 31, 2019 (as previously reported) Dec 31, 2019 (as revised) Revenue 189,923 188,672 128,381 127,679 48,780 48,538 Cost of sales 160,448 160,448 83,437 83,437 26,005 26,005 Gross profit 29,475 28,224 44,944 44,242 22,775 22,533 Research and development expenses 19,297 19,297 14,935 14,935 9,590 9,590 General administrative expenses 46,739 46,739 40,160 40,160 23,160 23,160 Selling expenses 9,860 9,860 8,026 8,026 9,254 9,254 Impairment of financial assets 1,140 1,009 3,738 3,382 752 752 Other operating income 3,209 3,209 2,394 2,394 3,781 3,781 Other operating expenses 86 86 182 182 1,284 1,284 Real estate transfer tax expenses - - - - 1,200 1,200 Operating loss (44,438) (45,558) (19,703) (20,049) (18,684) (18,926) Loss for the year (45,262) (46,382) (21,378) (21,724) (20,855) (21,097) Total comprehensive loss (44,719) (45,839) (21,426) (21,772) (20,839) (21,081) Loss per share- Basic and diluted (in EUR) (1.98) (2.04) (1.02) (1.04) (1.27) (1.28) The impact of the revisions on the consolidated statements of cash flows as of June 30, 2021 are as follows: For the six months ended June 30 2021 2021 (Revised) Operating activities Loss before taxes from continuing operations (27,170) (27,635) Income before taxes from discontinued operations 14,385 14,338 Loss before taxes (12,785) (13,297) Adjustments to reconcile loss to cash flow from operating activities Amortization and depreciation 6,670 6,670 Interest expense 471 471 Expected credit loss allowances on trade receivables and contract assets 675 675 Gain on revaluation of credit loss allowance on trade receivables and contract assets — — Gain on disposal of property, plant and equipment — — Share‑based payment (true up)/ expenses 4,276 4,276 Tax expense 124 124 Other non‑cash items 126 126 Changes in operating assets and liabilities Inventories 2,124 2,124 Trade receivables and contract assets 10,034 10,370 Other assets 328 328 Trade payables (17,722) (17,722) Other liabilities (2,151) (1,975) Thereof cash flow (used in) continuing operating activities (16,650) (16,603) Thereof cash flow from discontinued operating activities 8,820 8,773 Net cash flow (used in) operating activities (7,830) (7,830) Investing activities Cash flow received/ (used in) investing activities (4,785) (4,785) Financing activities Net cash flow from/ (used in) financing activities (761) (761) Changes in cash and cash equivalents (13,376) (13,376) Cash and cash equivalents at the beginning of the period 48,156 48,156 Cash and cash equivalents at the end of the period 34,780 34,780 |
Segment information - Informati
Segment information - Information by operating segments (Details) - EUR (€) € in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||
Jun. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Sep. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Segment information | |||||||||||
Total Revenues from contracts with external customers | € 11,198 | € 10,191 | € 9,661 | € 9,209 | € 9,793 | € 21,389 | € 19,002 | € 28,663 | € 188,672 | € 127,679 | € 48,538 |
Adjusted EBITDA | (5,936) | (8,618) | (16,087) | (18,251) | (17,549) | ||||||
Additions to property, plant and equipment and right-of-use assets | 759 | 108 | 838 | 662 | 4,367 | ||||||
Additions to intangible assets | 107 | 763 | 151 | 1,735 | 2,787 | ||||||
Other segment information | |||||||||||
Depreciation and amortization | 2,149 | 2,315 | 4,512 | 4,674 | 19,974 | ||||||
Research and development expenses | 4,457 | € 4,614 | € 3,821 | 4,053 | € 4,335 | 9,071 | 8,388 | € 12,209 | 19,297 | € 14,935 | € 9,590 |
Operating segment | Pharmaceutical | |||||||||||
Segment information | |||||||||||
Total Revenues from contracts with external customers | 3,653 | 2,831 | 6,888 | 6,429 | 15,641 | ||||||
Adjusted EBITDA | 1,472 | 647 | 2,571 | 2,144 | 4,843 | ||||||
Additions to property, plant and equipment and right-of-use assets | 12 | 3 | 12 | 9 | 690 | ||||||
Additions to intangible assets | 70 | 241 | 99 | 563 | 2,401 | ||||||
Other segment information | |||||||||||
Depreciation and amortization | 124 | 410 | 251 | 824 | 2,076 | ||||||
Operating segment | Diagnostics | |||||||||||
Segment information | |||||||||||
Total Revenues from contracts with external customers | 7,545 | 6,378 | 14,501 | 12,573 | 26,697 | ||||||
Adjusted EBITDA | 2,005 | 278 | 2,719 | 1,168 | 2,952 | ||||||
Additions to property, plant and equipment and right-of-use assets | 713 | 713 | 234 | 261 | |||||||
Other segment information | |||||||||||
Depreciation and amortization | 512 | 412 | 953 | 818 | 2,539 | ||||||
Operating segment | COVID-19 | |||||||||||
Segment information | |||||||||||
Total Revenues from contracts with external customers | 146,334 | ||||||||||
Adjusted EBITDA | 20,903 | ||||||||||
Additions to property, plant and equipment and right-of-use assets | 2,480 | ||||||||||
Additions to intangible assets | 386 | ||||||||||
Other segment information | |||||||||||
Depreciation and amortization | 9,511 | ||||||||||
Corporate | |||||||||||
Segment information | |||||||||||
Adjusted EBITDA | (9,413) | (9,543) | (21,377) | (21,563) | (46,247) | ||||||
Additions to property, plant and equipment and right-of-use assets | 34 | 105 | 113 | 419 | 936 | ||||||
Additions to intangible assets | 37 | 522 | 52 | 1,172 | |||||||
Other segment information | |||||||||||
Depreciation and amortization | 1,513 | 1,493 | 3,308 | 3,032 | 5,848 | ||||||
Research and development expenses | € 4,457 | € 4,053 | € 9,071 | € 8,388 | € 19,297 |
Segment information - Reconcili
Segment information - Reconciliation of segment Adjusted EBITDA to Group loss before taxes (Details) - EUR (€) € in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||
Jun. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Sep. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Segment information | |||||||||||
Depreciation and amortization | € (2,149) | € (2,315) | € (4,512) | € (4,674) | € (19,974) | ||||||
Operating loss | (10,835) | € (10,557) | € (13,060) | (13,167) | € (14,034) | (21,392) | (27,201) | € (40,261) | (45,558) | € (20,049) | € (18,926) |
Financial costs, net | (877) | (175) | (1,497) | (434) | |||||||
Income tax expenses | (175) | (124) | (179) | (124) | |||||||
Loss before taxes from continuing operations | (11,712) | (13,342) | (22,889) | (27,635) | |||||||
Operating segment | |||||||||||
Segment information | |||||||||||
Reported segment Adjusted EBITDA | 3,477 | 925 | 5,290 | 3,312 | 28,697 | 40,655 | 17,020 | ||||
Reported segment Adjusted EBITDA after corporate expenses | (5,936) | (8,618) | (16,087) | (18,251) | (17,550) | 737 | (5,929) | ||||
Operating loss | (10,835) | (13,167) | (21,392) | (27,201) | (45,559) | (20,049) | (18,926) | ||||
Financial costs, net | (877) | (175) | (1,497) | (434) | (848) | (1,394) | (2,013) | ||||
Income tax expenses | (175) | (124) | (179) | (124) | 24 | (281) | (158) | ||||
Loss before taxes from continuing operations | (11,887) | (13,466) | (23,068) | (27,759) | (46,383) | (21,724) | (21,097) | ||||
Corporate | |||||||||||
Segment information | |||||||||||
Corporate expenses | (9,413) | (9,543) | (21,377) | (21,563) | (46,247) | (39,918) | (22,949) | ||||
Depreciation and amortization | (1,513) | (1,493) | (3,308) | (3,032) | (5,848) | ||||||
Share-based payment expenses | |||||||||||
Segment information | |||||||||||
Share-based payment expenses (Note 12) | (571) | (2,234) | 1,386 | (4,276) | (8,035) | (5,658) | (6,418) | ||||
Depreciation and amortization | |||||||||||
Segment information | |||||||||||
Depreciation and amortization | (2,149) | € (2,315) | (4,512) | € (4,674) | € (19,974) | € (15,128) | € (6,579) | ||||
One-off costs | |||||||||||
Segment information | |||||||||||
One-off costs | € (2,179) | € (2,179) |
Segment information - Additiona
Segment information - Additional information (Details) - EUR (€) € in Thousands | 12 Months Ended | |||
Dec. 31, 2019 | Jun. 30, 2022 | Dec. 31, 2021 | Jan. 01, 2021 | |
Segment information and revenue from contracts with customers | ||||
Real estate transfer tax expenses | € 1,200 | |||
Property, plant and equipment* | € 7,217 | € 9,464 | € 16,590 | |
Right-of-use assets | 17,059 | 18,904 | € 22,120 | |
-United States | ||||
Segment information and revenue from contracts with customers | ||||
Property, plant and equipment* | 115 | 147 | ||
Right-of-use assets | € 0 | € 137 |
Revision of previously issued_3
Revision of previously issued financial statements - Consolidated statements of financial position (Details) € in Thousands, $ in Thousands | 12 Months Ended | ||||||||||
Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | Dec. 31, 2019 USD ($) | Jun. 30, 2022 EUR (€) | Mar. 31, 2022 EUR (€) | Dec. 31, 2021 EUR (€) | Dec. 31, 2021 USD ($) | Sep. 30, 2021 EUR (€) | Jun. 30, 2021 EUR (€) | Mar. 31, 2021 EUR (€) | Jan. 01, 2021 EUR (€) | |
IFRS Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||||||||
Non-current assets | $ 53,084 | $ 49,401 | € 34,824 | € 36,801 | € 40,534 | $ 40,534 | € 45,781 | € 52,171 | € 54,116 | € 53,084 | |
Trade receivables and contract assets | 29,250 | 16,554 | 15,716 | 20,380 | 23,646 | 23,646 | 13,444 | 18,204 | 28,520 | 29,250 | |
Current assets | 97,097 | 68,070 | 55,339 | 70,556 | 50,786 | 50,786 | 49,946 | 68,329 | 91,234 | 97,097 | |
Total Assets | 150,181 | 117,471 | 90,163 | 107,357 | 91,320 | 91,320 | 95,727 | 120,500 | 145,350 | 150,181 | |
Equity and liabilities | |||||||||||
Issued capital | 2,654 | 2,383 | 3,250 | 2,708 | 2,708 | 2,654 | |||||
Capital reserve | 125,916 | 98,099 | 144,027 | 133,897 | 133,897 | 125,916 | |||||
Retained earnings and other reserves | (63,477) | (40,865) | (126,171) | (115,927) | (109,414) | (109,414) | (98,925) | (77,015) | (68,455) | (63,477) | |
Non-controlling interests | $ 193 | 95 | (938) | ||||||||
Equity | 65,188 | 58,679 | 21,052 | 30,999 | 27,384 | 27,384 | 35,974 | 55,972 | 62,287 | 65,188 | |
Other liabilities | 640 | 204 | 1,018 | 1,018 | 939 | 816 | 680 | 640 | |||
Non-current liabilities | 27,875 | 29,792 | 45,950 | 46,598 | 24,519 | 24,519 | 25,075 | 26,111 | 26,730 | 27,875 | |
Other liabilities | € | 12,486 | 15,621 | 19,474 | 22,591 | 17,962 | ||||||
Current liabilities | 57,118 | 29,000 | 23,161 | 29,760 | 39,417 | 39,417 | 34,678 | 38,417 | 56,333 | 57,118 | |
Total Equity and Liabilities | 150,181 | 117,471 | € 90,163 | 107,357 | € 91,320 | 91,320 | 95,727 | 120,500 | 145,350 | € 150,181 | |
Previously Reported | |||||||||||
IFRS Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||||||||
Non-current assets | 53,084 | 49,401 | 36,801 | 40,534 | 45,781 | 52,171 | 54,116 | ||||
Trade receivables and contract assets | 29,199 | 16,593 | 21,125 | 24,337 | 13,907 | 18,490 | 28,604 | ||||
Current assets | 97,046 | 68,109 | 71,301 | 51,477 | 50,409 | 68,615 | 91,318 | ||||
Total Assets | 150,130 | 117,510 | 108,102 | 92,011 | 96,190 | 120,786 | 145,434 | ||||
Equity and liabilities | |||||||||||
Issued capital | 2,654 | 2,383 | 2,708 | ||||||||
Capital reserve | 125,916 | 98,099 | 133,897 | ||||||||
Retained earnings and other reserves | (62,888) | (40,622) | (114,120) | (107,705) | (97,523) | (75,913) | (67,691) | ||||
Non-controlling interests | $ 193 | 95 | (938) | ||||||||
Equity | 65,777 | 58,922 | 32,806 | 29,093 | 37,376 | 57,074 | 63,051 | ||||
Non-current liabilities | 27,235 | 29,588 | 46,598 | 23,501 | 24,136 | 25,295 | 26,050 | ||||
Other liabilities | € | 14,559 | 22,591 | |||||||||
Current liabilities | 57,118 | 29,000 | 28,698 | 39,417 | 34,678 | 38,417 | 56,333 | ||||
Total Equity and Liabilities | $ 150,130 | $ 117,510 | € 108,102 | $ 92,011 | € 96,190 | € 120,786 | € 145,434 |
Revision of previously issued_4
Revision of previously issued financial statements - Consolidated statements of comprehensive income (Details) - EUR (€) € / shares in Units, € in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||
Jun. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Sep. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
IFRS Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||||||||
Revenue | € 11,198 | € 10,191 | € 9,661 | € 9,209 | € 9,793 | € 21,389 | € 19,002 | € 28,663 | € 188,672 | € 127,679 | € 48,538 |
Cost of sales | 6,586 | 6,450 | 6,828 | 6,617 | 6,208 | 13,036 | 12,825 | 19,653 | 160,448 | 83,437 | 26,005 |
Gross profit | 4,612 | 3,741 | 2,833 | 2,592 | 3,585 | 8,353 | 6,177 | 9,010 | 28,224 | 44,242 | 22,533 |
Research and development expenses | 4,457 | 4,614 | 3,821 | 4,053 | 4,335 | 9,071 | 8,388 | 12,209 | 19,297 | 14,935 | 9,590 |
General administrative expenses | 9,378 | 7,906 | 10,406 | 10,494 | 11,596 | 17,284 | 22,090 | 32,496 | 46,739 | 40,160 | 23,160 |
Selling expenses | 2,798 | 2,394 | 2,206 | 1,942 | 1,949 | 5,192 | 3,891 | 6,097 | 9,860 | 8,026 | 9,254 |
Impairment of financial assets | 116 | 471 | 544 | 71 | 615 | 1,086 | 1,009 | 3,382 | 752 | ||
Other operating income | 657 | 733 | 1,011 | 1,276 | 366 | 1,390 | 1,642 | 2,653 | 3,209 | 2,394 | 3,781 |
Other operating expenses | 506 | 1 | 2 | 34 | 507 | 36 | 36 | 86 | 182 | 1,284 | |
Real estate transfer tax expenses | 1,200 | ||||||||||
Operating loss | (10,835) | (10,557) | (13,060) | (13,167) | (14,034) | (21,392) | (27,201) | (40,261) | (45,558) | (20,049) | (18,926) |
Loss for the period from continuing operations | (11,887) | (11,180) | (13,358) | (13,466) | (14,293) | (23,068) | (27,759) | (41,117) | |||
Net income from discontinued operations, net of tax | 1,539 | 4,601 | (8,587) | 5,110 | 9,227 | 6,140 | 14,338 | 5,751 | |||
Loss for the period | (10,348) | (6,579) | (21,945) | (8,356) | (5,066) | (16,928) | (13,421) | (35,366) | (46,382) | (21,724) | (21,097) |
Total comprehensive loss | € (10,419) | € (6,485) | € (21,859) | € (8,547) | € (4,945) | € (16,905) | € (13,491) | € (35,350) | € (45,839) | € (21,772) | € (21,081) |
Net loss per share - Basic (in EUR) | € (0.38) | € (0.28) | € (0.97) | € (0.38) | € (0.23) | € (0.64) | € (0.60) | € (1.58) | € (2.04) | € (1.04) | € (1.28) |
Net loss per share - Diluted (in EUR) | € (0.38) | € (0.28) | € (0.97) | € (0.38) | € (0.23) | € (0.64) | € (0.60) | € (1.58) | € (2.04) | € (1.04) | € (1.28) |
Previously Reported | |||||||||||
IFRS Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||||||||
Revenue | € 10,327 | € 9,993 | € 9,546 | € 9,981 | € 19,527 | € 29,520 | € 189,923 | € 128,381 | € 48,780 | ||
Cost of sales | 6,450 | 6,828 | 6,617 | 6,208 | 12,825 | 19,653 | 160,448 | 83,437 | 26,005 | ||
Gross profit | 3,877 | 3,165 | 2,929 | 3,773 | 6,702 | 9,867 | 29,475 | 44,944 | 22,775 | ||
Research and development expenses | 4,614 | 3,821 | 4,053 | 4,335 | 8,388 | 12,209 | 19,297 | 14,935 | 9,590 | ||
General administrative expenses | 7,906 | 10,406 | 10,494 | 11,596 | 22,090 | 32,496 | 46,739 | 40,160 | 23,160 | ||
Selling expenses | 2,394 | 2,206 | 1,942 | 1,949 | 3,891 | 6,097 | 9,860 | 8,026 | 9,254 | ||
Impairment of financial assets | 154 | 502 | 580 | 95 | 675 | 1,177 | 1,140 | 3,738 | 752 | ||
Other operating income | 733 | 1,011 | 1,276 | 366 | 1,642 | 2,653 | 3,209 | 2,394 | 3,781 | ||
Other operating expenses | 1 | 2 | 34 | 36 | 36 | 86 | 182 | 1,284 | |||
Real estate transfer tax expenses | 1,200 | ||||||||||
Operating loss | (10,459) | (12,759) | (12,866) | (13,870) | (26,736) | (39,495) | (44,438) | (19,703) | (18,684) | ||
Loss for the period from continuing operations | (11,083) | (13,057) | (13,165) | (14,129) | (27,294) | (40,351) | |||||
Net income from discontinued operations, net of tax | 4,601 | (8,587) | 5,145 | 9,240 | 14,385 | 5,798 | |||||
Loss for the period | (6,482) | (21,644) | (8,020) | (4,889) | (12,909) | (34,553) | (45,262) | (21,378) | (20,855) | ||
Total comprehensive loss | € (6,388) | € (21,558) | € (8,211) | € (4,768) | € (12,979) | € (34,537) | € (44,719) | € (21,426) | € (20,839) | ||
Net loss per share - Basic (in EUR) | € (0.28) | € (0.96) | € (0.37) | € (0.22) | € (0.58) | € (1.55) | € (1.98) | € (1.02) | € (1.27) | ||
Net loss per share - Diluted (in EUR) | € (0.28) | € (0.96) | € (0.37) | € (0.22) | € (0.58) | € (1.55) | € (1.98) | € (1.02) | € (1.27) |
Revision of previously issued_5
Revision of previously issued financial statements (Details) - EUR (€) € in Thousands | 6 Months Ended | ||
Jul. 01, 2022 | Jun. 30, 2022 | Jun. 30, 2021 | |
IFRS Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||
Changes in cash and cash equivalents | € 15,697 | € (13,376) | |
Adjustment | Effect of Revision of Financial Statements | |||
IFRS Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||
Changes in cash and cash equivalents | € 910 |
Revision of previously issued_6
Revision of previously issued financial statements - Consolidated statements of cash flows (Details) - EUR (€) € in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Operating activities | |||||
Loss before taxes from continuing operations | € (11,712) | € (13,342) | € (22,889) | € (27,635) | |
Income before taxes from discontinued operations | 6,153 | 14,338 | |||
Loss before taxes | (16,736) | (13,297) | |||
Adjustments to reconcile loss to cash flow from operating activities | |||||
Amortization and depreciation | 5,958 | 6,670 | |||
Interest expense | 3,137 | 471 | |||
Expected credit loss allowances on trade receivables and contract assets | 675 | ||||
Gain on revaluation of credit loss allowance on trade receivables and contract assets | (919) | ||||
Gain on disposal of property, plant and equipment | (683) | ||||
Share-based payment (true up)/ expenses | (1,386) | 4,276 | |||
Tax expense | 192 | 124 | |||
Other non-cash items | (580) | 126 | |||
Changes in operating assets and liabilities | |||||
Inventories | 1,715 | 2,124 | |||
Trade receivables and contract assets | 8,849 | 10,370 | |||
Other assets | 1,499 | 328 | |||
Trade payables | (6,495) | (17,722) | |||
Other liabilities | (8,060) | (1,975) | |||
Thereof cash flow (used in) continuing operating activities | (22,504) | (16,603) | |||
Thereof cash flow from discontinued operating activities | 7,355 | 8,773 | |||
Net cash flow (used in) operating activities | (15,149) | (7,830) | |||
Investing activities | |||||
Cash flow received/ (used in) investing activities | (215) | (4,785) | |||
Financing activities | |||||
Net cash flow from/ (used in) financing activities | 31,061 | (761) | |||
Changes in cash and cash equivalents | 15,697 | (13,376) | |||
Cash and cash equivalents at the beginning of the period | 17,818 | 48,156 | € 48,156 | ||
Cash and cash equivalents at the end of the period | € 33,515 | 34,780 | € 33,515 | 34,780 | 17,818 |
Previously Reported | |||||
Operating activities | |||||
Loss before taxes from continuing operations | (27,170) | ||||
Income before taxes from discontinued operations | 14,385 | ||||
Loss before taxes | (12,785) | ||||
Adjustments to reconcile loss to cash flow from operating activities | |||||
Amortization and depreciation | 6,670 | ||||
Interest expense | 471 | ||||
Expected credit loss allowances on trade receivables and contract assets | 675 | ||||
Share-based payment (true up)/ expenses | 4,276 | ||||
Tax expense | 124 | ||||
Other non-cash items | 126 | ||||
Changes in operating assets and liabilities | |||||
Inventories | 2,124 | ||||
Trade receivables and contract assets | 10,034 | ||||
Other assets | 328 | ||||
Trade payables | (17,722) | ||||
Other liabilities | (2,151) | ||||
Thereof cash flow (used in) continuing operating activities | (16,650) | ||||
Thereof cash flow from discontinued operating activities | 8,820 | ||||
Net cash flow (used in) operating activities | (7,830) | ||||
Investing activities | |||||
Cash flow received/ (used in) investing activities | (4,785) | ||||
Financing activities | |||||
Net cash flow from/ (used in) financing activities | (761) | ||||
Changes in cash and cash equivalents | (13,376) | ||||
Cash and cash equivalents at the beginning of the period | 48,156 | € 48,156 | |||
Cash and cash equivalents at the end of the period | € 34,780 | € 34,780 |