Full Press Release Details
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CONSOLIDATED FINANCIAL STATEMENTS
A European Company (Societas Europaea)
with a Management and a Supervisory Board
6 rue Alain Bombard, 44800 SAINT-HERBLAIN
Nantes Companies Register (RCS) No. 422 497 560
Unaudited Consolidated Interim financial
as at March 31, 2022
| in thousand | Three months ended March 31, | |||||||
| (except per share amounts) | 2022 | 2021 | ||||||
| Product sales | 16,162 | 16,124 | ||||||
| Other revenues | 5,686 | 7,092 | ||||||
| Revenues | 21,847 | 23,215 | ||||||
| Cost of goods and services | ( 13,860 | ) | ( 14,650 | ) | ||||
| Research and development expenses | ( 20,689 | ) | ( 27,732 | ) | ||||
| Marketing and distribution expenses | ( 2,034 | ) | ( 4,941 | ) | ||||
| General and administrative expenses | ( 5,770 | ) | ( 10,010 | ) | ||||
| Other income and expenses, net | 2,084 | 2,979 | ||||||
| OPERATING LOSS | ( 18,422 | ) | ( 31,138 | ) | ||||
| Finance income | 13 | 7,695 | ||||||
| Finance expenses | ( 7,130 | ) | ( 4,607 | ) | ||||
| Result from investments in associates | - | ( 19 | ) | |||||
| LOSS BEFORE INCOME TAX | ( 25,539 | ) | ( 28,070 | ) | ||||
| Income tax income/(expense) | ( 502 | ) | 368 | |||||
| LOSS FOR THE PERIOD | ( 26,041 | ) | ( 27,702 | ) | ||||
| Losses per share for profit/loss for the period attributable to the equity holders of the Company, expressed in per share | ||||||||
| - basic | ( 0.24 | ) | ( 0.30 | ) | ||||
| - diluted | ( 0.24 | ) | ( 0.30 | ) |
| in thousand | Three months ended March 31, | |||||||
| 2022 | 2021 | |||||||
| Loss for the period | ( 26,041 | ) | ( 27,702 | ) | ||||
| Other comprehensive income/(loss) | ||||||||
| Items that may be reclassified to profit or loss | ||||||||
| Currency translation differences | ( 244 | ) | ( 337 | ) | ||||
| Items that will not be reclassified to profit or loss | ||||||||
| Defined benefit plan actuarial gains/(losses) | - | - | ||||||
| Other comprehensive loss for the period, net of tax | ( 244 | ) | ( 337 | ) | ||||
| TOTAL COMPREHENSIVE LOSS FOR THE PERIOD ATTRIBUTABLE TO THE OWNERS OF THE COMPANY | ( 26,285 | ) | ( 28,038 | ) |
| in thousand | March 31, | December 31, | ||||||
| 2022 | 2021 | |||||||
| ASSETS | ||||||||
| Non-current assets | 232,690 | 231,520 | ||||||
| Intangible assets | 31,765 | 32,700 | ||||||
| Right of use assets | 47,562 | 48,285 | ||||||
| Property, plant and equipment | 128,418 | 125,545 | ||||||
| Investments in associates | 2,124 | 2,124 | ||||||
| Deferred tax assets | 3,304 | 3,582 | ||||||
| Other non-current assets | 19,516 | 19,282 | ||||||
| Current assets | 545,021 | 585,832 | ||||||
| Inventories | 139,725 | 124,098 | ||||||
| Trade receivables | 25,061 | 44,013 | ||||||
| Other current assets | 68,972 | 71,036 | ||||||
| Cash and cash equivalents | 311,264 | 346,686 | ||||||
| Total assets | 777,711 | 817,352 | ||||||
| EQUITY | ||||||||
| Capital and reserves attributable to the Company's equity holders | 148,406 | 170,581 | ||||||
| Share capital | 16,170 | 15,786 | ||||||
| Share premium | 412,799 | 409,258 | ||||||
| Other reserves | 52,452 | 52,512 | ||||||
| Accumulated deficit | ( 306,974 | ) | ( 233,549 | ) | ||||
| Loss for the period | ( 26,041 | ) | ( 73,425 | ) | ||||
| LIABILITIES | ||||||||
| Non-current liabilities | 266,049 | 277,791 | ||||||
| Borrowings | 48,005 | 50,726 | ||||||
| Lease liabilities | 52,663 | 53,687 | ||||||
| Contract liabilities | 4,830 | 4,741 | ||||||
| Refund liabilities | 156,229 | 158,970 | ||||||
| Provisions | 2,975 | 8,308 | ||||||
| Deferred tax liabilities | 1,280 | 1,290 | ||||||
| Other liabilities | 68 | 69 | ||||||
| Current liabilities | 363,257 | 368,979 | ||||||
| Borrowings | 11,730 | 7,107 | ||||||
| Trade payables and accruals | 66,268 | 68,119 | ||||||
| Income tax liability | 72 | 83 | ||||||
| Tax and Employee-related liabilities | 19,838 | 17,249 | ||||||
| Lease liabilities | 3,122 | 3,135 | ||||||
| Contract liabilities | 122,478 | 124,017 | ||||||
| Refund liabilities | 100,279 | 95,611 | ||||||
| Provisions | 30,554 | 48,708 | ||||||
| Other liabilities | 8,917 | 4,950 | ||||||
| Total liabilities | 629,305 | 646,771 | ||||||
| Total equity and liabilities | 777,711 | 817,352 |
| in thousand | Three months ended March 31, | |||||||
| 2022 | 2021 | |||||||
| Cash flows from operating activities | ||||||||
| Loss for the period | ( 26,041 | ) | ( 27,702 | ) | ||||
| Adjustments for non-cash transactions | ( 6,922 | ) | 6,232 | |||||
| Changes in non-current operating assets and liabilities | ( 4,763 | ) | 1,951 | |||||
| Changes in working capital | 11,193 | 68,373 | ||||||
| Cash generated from/(used in) operations | ( 26,533 | ) | 48,855 | |||||
| Income tax paid | ( 318 | ) | ( 1,296 | ) | ||||
| Net cash generated from/(used in) operating activities | ( 26,851 | ) | 47,559 | |||||
| Cash flows from investing activities | ||||||||
| Purchases of property, plant and equipment | ( 9,385 | ) | ( 16,333 | ) | ||||
| Purchases of intangible assets | ( 76 | ) | ( 543 | ) | ||||
| Interest received | 13 | 19 | ||||||
| Net cash used in investing activities | ( 9,447 | ) | ( 16,857 | ) | ||||
| Cash flows from financing activities | ||||||||
| Proceeds from issuance of common stock, net of costs of equity transactions | 3,726 | 2,209 | ||||||
| Disposal of treasury shares | - | 154 | ||||||
| Payment of lease liabilities | ( 835 | ) | ( 518 | ) | ||||
| Interest paid | ( 1,909 | ) | ( 3,396 | ) | ||||
| Net cash generated from/(used in) financing activities | 982 | ( 1,550 | ) | |||||
| Net change in cash and cash equivalents | ( 35,316 | ) | 29,152 | |||||
| Cash and cash equivalents at beginning of the period | 346,642 | 204,394 | ||||||
| Exchange gains/(losses) on cash | ( 107 | ) | 2,324 | |||||
| Restricted cash | 45 | 43 | ||||||
| Cash and cash equivalents at end of the period | 311,264 | 235,913 |
| in thousand (except number of shares) | Number of shares issued | Share capital | Share premium | Other reserves | Retained earnings/ (Accumulated deficit) | Profit/ (loss) for the period | Total equity | |||||||||||||||||||||
| Balance as at January 1, 2021 | 90,970,562 | 13,646 | 244,984 | 52,342 | ( 169,156 | ) | ( 64,393 | ) | 77,422 | |||||||||||||||||||
| Total comprehensive loss | - | - | - | ( 337 | ) | - | ( 27,702 | ) | ( 28,038 | ) | ||||||||||||||||||
| Income appropriation | - | - | - | - | ( 64,393 | ) | 64,393 | - | ||||||||||||||||||||
| Share-based compensation expense: | ||||||||||||||||||||||||||||
| - value of services | - | - | - | 608 | - | - | 608 | |||||||||||||||||||||
| - exercises | 793,200 | 119 | 2,090 | - | - | - | 2,209 | |||||||||||||||||||||
| Treasury shares | - | - | - | 154 | - | - | 154 | |||||||||||||||||||||
| Balance as at March 31, 2021 | 91,763,762 | 13,765 | 247,074 | 52,768 | ( 233,549 | ) | ( 27,702 | ) | 52,355 | |||||||||||||||||||
| Balance as at January 1, 2022 | 105,239,085 | 15,786 | 409,258 | 52,512 | ( 233,549 | ) | ( 73,425 | ) | 170,581 | |||||||||||||||||||
| Total comprehensive loss | - | - | - | ( 244 | ) | - | ( 26,041 | ) | ( 26,285 | ) | ||||||||||||||||||
| Income appropriation | - | - | - | - | ( 73,425 | ) | 73,425 | - | ||||||||||||||||||||
| Share-based compensation expense: | ||||||||||||||||||||||||||||
| - value of services | - | - | - | 185 | - | - | 185 | |||||||||||||||||||||
| - exercises | 2,563,011 | 384 | 3,541 | - | - | - | 3,925 | |||||||||||||||||||||
| Treasury shares | - | - | - | - | - | - | - | |||||||||||||||||||||
| Balance as at March 31, 2022 | 107,802,096 | 16,170 | 412,799 | 52,452 | ( 306,974 | ) | ( 26,041 | ) | 148,406 |